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CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenue:        
Total revenue $ 1,109,457 $ 1,003,578 $ 2,107,884 $ 1,967,673
Cost of Revenue:        
Cost of revenue 414,725 384,419 789,773 755,444
Gross profit 694,732 619,159 1,318,111 1,212,229
Expenses:        
Sales and marketing 161,107 142,665 317,330 292,118
General and administrative 98,681 157,243 190,242 249,267
Research and development 61,898 55,450 120,959 108,085
Total operating expense 321,686 355,358 628,531 649,470
Income from operations 373,046 263,801 689,580 562,759
Interest expense (11,321) (8,099) (18,987) (16,010)
Interest income 627 3,354 1,843 7,786
Income before provision for income taxes 362,352 259,056 672,436 554,535
Provision for income taxes 68,363 55,758 135,770 115,658
Net income $ 293,989 $ 203,298 $ 536,666 $ 438,877
Earnings per Share:        
Basic (in USD per share) $ 3.66 $ 2.46 $ 6.64 $ 5.30
Diluted (in USD per share) $ 3.63 $ 2.44 $ 6.59 $ 5.24
Weighted Average Shares Outstanding:        
Basic (in shares) 80,413 82,630 80,864 82,863
Diluted (in shares) 80,994 83,393 81,465 83,684
Product revenue        
Revenue:        
Total revenue $ 657,561 $ 577,272 $ 1,230,612 $ 1,120,321
Cost of Revenue:        
Cost of revenue 205,146 180,642 380,678 357,412
Service revenue        
Revenue:        
Total revenue 451,896 426,306 877,272 847,352
Cost of Revenue:        
Cost of revenue $ 209,579 $ 203,777 $ 409,095 $ 398,032