Arista Networks, Inc(NYSE:ANET) 
Arista Networks, Inc. develops, markets, and sells cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of extensible operating systems, a set of network applications, as well as gigabit Ethernet switching...
Website: http://www.arista.com
Founded: 2004
Full Time Employees: 3,612 (Dec 2022)
Founder: Andy Bechtolsheim
CEO: Jayshree Ullal
Sector: Technology
Industry: Computer Hardware
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At a glance:
- Leader in High-Performance Cloud and Data Center Networking: Arista Networks specializes in delivering high-speed, software-driven networking solutions for large data centers, cloud computing environments, and enterprise campuses, powered by its Extensible Operating System (EOS).
- Strong Market Position and Growth: The company maintains a leading market share in high-speed data center switching, driven by significant demand from cloud service providers and large enterprises for scalable and efficient network infrastructure.
- Consistent Financial Performance: Arista has a track record of robust revenue growth and healthy profit margins, reflecting strong adoption of its advanced networking products and effective operational management.
- Strategic Expansion into Enterprise and AI/ML Networking: While dominant in data centers, Arista is strategically expanding its reach into the enterprise campus market and developing specialized networking solutions to support the growing demands of AI/ML workloads.
Bull Thesis:
- AI/ML Networking Tailwinds: The exponential growth in AI/ML workloads demands high-performance, low-latency networking infrastructure. Arista's leadership in 400G/800G Ethernet and its robust EOS platform position it strongly to capture significant market share from hyperscalers and enterprises building out AI compute clusters.
- Expanding Market Reach Beyond Hyperscale: While a dominant player in hyperscale data centers, Arista is successfully expanding into the enterprise campus, routing, and broader cloud networking segments. This diversification reduces reliance on a few large customers and opens up substantial new revenue opportunities.
- Robust Financial Performance and Profitability: Arista consistently demonstrates strong revenue growth, high gross margins, and excellent free cash flow generation. Its solid balance sheet and operational efficiency provide a strong foundation for continued investment in R&D and shareholder returns, indicating financial resilience.
- Continuous Innovation and Technology Leadership: Arista maintains a strong reputation for innovation, particularly in high-speed Ethernet, network automation, and cloud-native solutions. Its Extensible Operating System (EOS) is highly regarded, allowing the company to quickly adapt to new technologies and maintain a competitive edge.
Bear Thesis:
- Hyperscaler Customer Concentration Risk: A significant portion of Arista's revenue is derived from a few large hyperscale cloud providers. Any slowdown in their capital expenditures, a shift towards in-house networking solutions, or increased bargaining power could lead to revenue volatility and impact growth.
- Intense Competitive Landscape: The networking market is highly competitive, with established players like Cisco, Juniper, and HPE, as well as emerging white-box solutions and potential in-house development by large customers. This intense competition could put pressure on pricing, margins, and market share.
- Cyclical Nature of IT Spending: Enterprise and cloud capital expenditures for networking infrastructure can be cyclical. Economic downturns, periods of digestion after large build-outs, or shifts in technology priorities could lead to slower demand or even declines in Arista's product sales.
- Premium Valuation Concerns: Arista's strong growth and profitability have led to a premium valuation compared to many of its peers. Should growth rates moderate, or if broader market sentiment shifts, the stock could be vulnerable to a multiple contraction, impacting shareholder returns.
Main Competitors:
- Cisco Systems, Inc. ($CSCO) (Nexus Switches, Catalyst Switches, ACI), Cisco is the dominant incumbent in enterprise and data center networking. They compete directly with Arista across all major product lines, offering a comprehensive portfolio of switches, routers, and software-defined networking (SDN) solutions (like ACI) for data centers, campus networks, and cloud environments. Cisco leverages its vast installed base, end-to-end solutions, and strong channel partnerships.
- Juniper Networks, Inc. ($JNPR) (QFX Series Switches, MX Series Routers, Junos OS), Juniper competes with Arista in high-performance data center and enterprise switching, as well as routing. They focus on secure, AI-driven networking solutions and offer a strong portfolio for cloud, service provider, and enterprise customers. Juniper emphasizes automation, open standards, and a robust operating system (Junos OS). (Note: Juniper's acquisition by HPE is pending/ongoing, which will further consolidate competition).
- NVIDIA Corporation ($NVDA) (Spectrum-X Ethernet Platforms, InfiniBand, DPUs), NVIDIA, particularly after its Mellanox acquisition, is a significant competitor in high-performance data center networking, especially for AI/ML workloads. They compete with Arista's high-speed Ethernet switches by offering their own Spectrum-X platforms, InfiniBand solutions, and Data Processing Units (DPUs) that integrate networking, storage, and security functions, targeting hyperscalers and AI/ML clusters.
- Hewlett Packard Enterprise (HPE) ($HPE) (Aruba CX Switches, HPE GreenLake), HPE, through its Aruba Networks subsidiary, competes with Arista in enterprise and campus networking, offering a range of wired and wireless solutions. While traditionally stronger in campus, HPE is expanding its data center presence, especially with its GreenLake as-a-service offerings and the pending acquisition of Juniper Networks, which will significantly bolster its data center and cloud networking capabilities.
Moat:
Arista Networks' competitive moat is primarily built on its highly regarded Extensible Operating System (EOS), known for its programmability, reliability, and open standards, which appeals to hyperscale cloud providers, large enterprises, and financial institutions. Their focus on high-performance, low-latency Ethernet switches for data centers and AI/ML clusters allows them to differentiate from broader networking vendors. The competitive landscape is intense, dominated by established players like Cisco Systems, which offers a comprehensive portfolio and vast installed base. Juniper Networks (soon to be part of HPE) provides alternative high-performance solutions. NVIDIA is an increasingly formidable competitor, especially in the high-growth AI/ML data center segment, where its integrated stack of GPUs, DPUs, and high-speed Ethernet networking presents a compelling alternative. Arista must continue to innovate and expand its software-driven networking solutions to maintain its edge against these powerful and evolving rivals.
Income Statements:
Quarterly
Annual
| Unit: USD | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-12-31 | 2019-09-30 | 2019-06-30 | 2019-03-31 | 2018-12-31 | 2018-09-30 | 2018-06-30 | 2018-03-31 | 2017-12-31 | 2017-09-30 | 2017-06-30 | 2017-03-31 | 2016-12-31 | 2016-09-30 | 2016-06-30 | 2016-03-31 | 2015-12-31 | 2015-09-30 | 2015-06-30 | 2015-03-31 | 2014-12-31 | 2014-09-30 | 2014-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
revenue: | |||||||||||||||||||||||||||||||||||||||||||||||
product | 2,095,700,000 | 1,911,700,000 | 1,877,000,000 | 1,692,500,000 | 1,608,098,000 | 1,523,807,000 | 1,423,271,000 | 1,328,845,000 | 1,310,314,000 | 1,285,548,000 | 1,261,537,000 | 1,172,094,000 | 1,096,866,000 | 1,008,689,000 | 885,806,000 | 724,718,000 | 667,955,000 | 604,160,000 | 566,467,000 | 539,145,000 | 518,281,000 | 480,242,000 | 421,413,000 | 410,906,000 | 447,498,000 | 555,066,000 | 513,171,000 | 505,415,000 | 503,235,000 | 485,481,000 | 444,767,000 | 407,617,000 | 407,195,000 | 380,344,000 | 353,904,000 | 291,367,000 | 289,008,000 | 254,238,000 | 235,616,000 | 212,475,000 | 217,325,000 | 193,339,000 | 174,072,000 | 160,141,000 | |||
service | 392,100,000 | 396,600,000 | 327,800,000 | 312,300,000 | 322,338,000 | 287,129,000 | 267,129,000 | 242,529,000 | 230,123,000 | 223,908,000 | 197,387,000 | 179,257,000 | 178,686,000 | 168,112,000 | 166,085,000 | 152,348,000 | 156,504,000 | 144,537,000 | 140,852,000 | 128,417,000 | 130,201,000 | 125,189,000 | 119,157,000 | 112,123,000 | 105,048,000 | 99,349,000 | 95,150,000 | 90,009,000 | 92,491,000 | 77,828,000 | 75,078,000 | 64,872,000 | 60,672,000 | 57,289,000 | 51,307,000 | 44,108,000 | 38,961,000 | 36,023,000 | 33,125,000 | 29,721,000 | 28,121,000 | 24,209,000 | 21,480,000 | 18,904,000 | |||
total revenue | 2,487,800,000 | 2,308,300,000 | 2,204,800,000 | 2,004,800,000 | 1,930,436,000 | 1,810,936,000 | 1,690,400,000 | 1,571,374,000 | 1,540,437,000 | 1,509,456,000 | 1,458,924,000 | 1,351,351,000 | 1,275,552,000 | 1,176,801,000 | 1,051,891,000 | 877,066,000 | 824,459,000 | 748,697,000 | 707,319,000 | 667,562,000 | 648,482,000 | 605,431,000 | 540,570,000 | 523,029,000 | 552,546,000 | 654,415,000 | 608,321,000 | 595,424,000 | 595,726,000 | 563,309,000 | 519,845,000 | 472,489,000 | 467,867,000 | 437,633,000 | 405,211,000 | 335,475,000 | 327,969,000 | 290,261,000 | 268,741,000 | 242,196,000 | 245,446,000 | 217,548,000 | 195,552,000 | 179,045,000 | |||
yoy | 28.87% | 27.46% | 30.43% | 27.58% | 25.32% | 19.97% | 15.87% | 16.28% | 20.77% | 28.27% | 38.70% | 54.08% | 54.71% | 57.18% | 48.72% | 31.38% | 27.14% | 23.66% | 30.85% | 27.63% | 17.36% | -7.49% | -11.14% | -12.16% | -7.25% | 16.17% | 17.02% | 26.02% | 27.33% | 28.72% | 28.29% | 40.84% | 42.66% | 50.77% | 50.78% | 38.51% | 33.62% | 33.42% | 37.43% | 35.27% | |||||||
qoq | 7.78% | 4.69% | 9.98% | 3.85% | 6.60% | 7.13% | 7.57% | 2.01% | 2.05% | 3.46% | 7.96% | 5.94% | 8.39% | 11.87% | 19.93% | 6.38% | 10.12% | 5.85% | 5.96% | 2.94% | 7.11% | 12.00% | 3.35% | -5.34% | -15.57% | 7.58% | 2.17% | -0.05% | 5.75% | 8.36% | 10.02% | 0.99% | 6.91% | 8.00% | 20.79% | 2.29% | 12.99% | 8.01% | 10.96% | -1.32% | 12.82% | 11.25% | 9.22% | ||||
cost of revenue: | |||||||||||||||||||||||||||||||||||||||||||||||
total cost of revenue | 924,000,000 | 818,100,000 | 766,200,000 | 728,700,000 | 699,442,000 | 649,219,000 | 593,187,000 | 569,995,000 | 541,211,000 | 567,037,000 | 574,795,000 | 546,844,000 | 506,946,000 | 466,821,000 | 408,626,000 | 323,221,000 | 301,745,000 | 270,082,000 | 253,141,000 | 242,290,000 | 233,898,000 | 220,469,000 | 196,481,000 | 184,778,000 | 196,243,000 | 237,141,000 | 218,130,000 | 214,854,000 | 220,734,000 | 201,726,000 | 185,962,000 | 169,570,000 | 160,702,000 | 157,016,000 | 145,434,000 | 121,265,000 | 117,814,000 | 103,841,000 | 97,290,000 | 87,106,000 | 89,278,000 | 75,800,000 | 67,662,000 | 61,291,000 | |||
gross profit | 1,563,800,000 | 1,490,200,000 | 1,438,600,000 | 1,276,100,000 | 1,230,994,000 | 1,161,717,000 | 1,097,213,000 | 1,001,379,000 | 999,226,000 | 942,419,000 | 884,129,000 | 804,507,000 | 768,606,000 | 709,980,000 | 643,265,000 | 553,845,000 | 522,714,000 | 478,615,000 | 454,178,000 | 425,272,000 | 414,584,000 | 384,962,000 | 344,089,000 | 338,251,000 | 356,303,000 | 417,274,000 | 390,191,000 | 380,570,000 | 374,992,000 | 361,583,000 | 333,883,000 | 302,919,000 | 116,440,000 | 100,957,000 | 93,380,000 | ||||||||||||
yoy | 27.04% | 28.28% | 31.11% | 27.43% | 23.19% | 23.27% | 24.10% | 24.47% | 30.00% | 32.74% | 37.44% | 45.26% | 47.04% | 48.34% | 41.63% | 30.23% | 26.08% | 24.33% | 31.99% | 25.73% | 16.36% | -7.74% | -11.82% | -11.12% | -4.98% | 15.40% | 16.86% | 25.63% | |||||||||||||||||||
qoq | 4.94% | 3.59% | 12.73% | 3.66% | 5.96% | 5.88% | 9.57% | 0.22% | 6.03% | 6.59% | 9.90% | 4.67% | 8.26% | 10.37% | 16.15% | 5.96% | 9.21% | 5.38% | 6.80% | 2.58% | 7.69% | 11.88% | 1.73% | -5.07% | -14.61% | 6.94% | 2.53% | 1.49% | 3.71% | 8.30% | 10.22% | 15.34% | 8.11% | ||||||||||||||
gross margin % | 62.86% | 64.56% | 65.25% | 63.65% | 63.77% | 64.15% | 64.91% | 63.73% | 64.87% | 62.43% | 60.60% | 59.53% | 60.26% | 60.33% | 61.15% | 63.15% | 63.40% | 63.93% | 64.21% | 63.71% | 63.93% | 63.58% | 63.65% | 64.67% | 64.48% | 63.76% | 64.14% | 63.92% | 62.95% | 64.19% | 64.23% | 64.11% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | Infinity% | Infinity% | Infinity% |
operating expenses: | |||||||||||||||||||||||||||||||||||||||||||||||
research and development | 348,400,000 | 326,000,000 | 296,500,000 | 266,400,000 | 285,016,000 | 235,824,000 | 267,482,000 | 208,395,000 | 211,481,000 | 212,353,000 | 229,676,000 | 201,408,000 | 190,423,000 | 187,807,000 | 178,158,000 | 172,006,000 | 157,879,000 | 153,093,000 | 143,293,000 | 132,487,000 | 133,847,000 | 128,049,000 | 111,544,000 | 113,154,000 | 110,063,000 | 118,732,000 | 114,295,000 | 119,669,000 | 118,439,000 | 117,589,000 | 104,078,000 | 102,362,000 | 107,180,000 | 79,610,000 | 81,194,000 | 81,610,000 | 71,398,000 | 70,648,000 | 69,020,000 | 62,515,000 | 57,413,000 | 58,748,000 | 49,947,000 | 43,340,000 | 44,344,000 | 36,231,000 | 34,888,000 |
sales and marketing | 139,100,000 | 151,200,000 | 126,500,000 | 116,600,000 | 110,949,000 | 106,832,000 | 104,403,000 | 105,080,000 | 105,538,000 | 102,033,000 | 97,971,000 | 93,492,000 | 85,443,000 | 81,401,000 | 79,372,000 | 80,739,000 | 74,786,000 | 69,740,000 | 70,625,000 | 71,020,000 | 67,671,000 | 53,372,000 | 51,237,000 | 57,086,000 | 54,535,000 | 55,279,000 | 53,040,000 | 51,053,000 | 50,911,000 | 47,903,000 | 46,188,000 | 42,140,000 | 38,808,000 | 40,640,000 | 38,630,000 | 37,027,000 | 38,321,000 | 33,216,000 | 31,744,000 | 27,606,000 | 31,308,000 | 26,508,000 | 26,681,000 | 24,587,000 | 25,016,000 | 20,956,000 | 20,711,000 |
general and administrative | 43,400,000 | 34,800,000 | 29,400,000 | 34,300,000 | 35,377,000 | 33,811,000 | 25,755,000 | 27,763,000 | 42,293,000 | 25,338,000 | 26,420,000 | 25,029,000 | 23,821,000 | 23,425,000 | 22,882,000 | 23,113,000 | 24,261,000 | 22,488,000 | 20,895,000 | 15,473,000 | 18,428,000 | 15,146,000 | 14,319,000 | 18,349,000 | 15,716,000 | 14,657,000 | 16,019,000 | 15,506,000 | 12,000,000 | 15,321,000 | 18,420,000 | 19,679,000 | 21,789,000 | 19,535,000 | 23,319,000 | 22,155,000 | 22,941,000 | 19,535,000 | 17,529,000 | 15,234,000 | 18,050,000 | 25,195,000 | 18,403,000 | 14,072,000 | 8,078,000 | 9,896,000 | 7,126,000 |
total operating expenses | 530,900,000 | 512,000,000 | 452,400,000 | 417,300,000 | 431,342,000 | 376,467,000 | 397,640,000 | 341,238,000 | 359,312,000 | 339,724,000 | 354,067,000 | 319,929,000 | 299,687,000 | 292,633,000 | 280,412,000 | 275,858,000 | 256,926,000 | 245,321,000 | 234,813,000 | 218,980,000 | 219,946,000 | 196,567,000 | 177,100,000 | 188,589,000 | 180,314,000 | 188,668,000 | 183,354,000 | 186,228,000 | 181,350,000 | 180,813,000 | 573,686,000 | 164,181,000 | 167,777,000 | 139,785,000 | 143,143,000 | 140,792,000 | 132,660,000 | 123,399,000 | 118,293,000 | 105,355,000 | 106,771,000 | 110,451,000 | 95,031,000 | 81,999,000 | 77,438,000 | 67,083,000 | 62,725,000 |
income from operations | 1,032,900,000 | 978,200,000 | 986,200,000 | 858,800,000 | 799,652,000 | 785,250,000 | 699,573,000 | 660,141,000 | 639,914,000 | 602,695,000 | 530,062,000 | 484,578,000 | 468,919,000 | 417,347,000 | 362,853,000 | 277,987,000 | 265,788,000 | 233,294,000 | 219,365,000 | 206,292,000 | 194,638,000 | 188,395,000 | 166,989,000 | 149,662,000 | 175,989,000 | 228,606,000 | 206,837,000 | 194,342,000 | 193,642,000 | 180,770,000 | -239,803,000 | 138,738,000 | 139,388,000 | 140,832,000 | 116,634,000 | 73,418,000 | 77,495,000 | 63,021,000 | 53,158,000 | 49,735,000 | 49,397,000 | 31,297,000 | 32,859,000 | 35,755,000 | 39,002,000 | 33,874,000 | 30,655,000 |
yoy | 29.17% | 24.57% | 40.97% | 30.09% | 24.96% | 30.29% | 31.98% | 36.23% | 36.47% | 44.41% | 46.08% | 74.32% | 76.43% | 78.89% | 65.41% | 34.75% | 36.56% | 23.83% | 31.36% | 37.84% | 10.60% | -17.59% | -19.27% | -22.99% | -9.12% | 26.46% | -186.25% | 40.08% | 38.92% | 28.36% | -305.60% | 88.97% | 79.87% | 123.47% | 119.41% | 47.62% | 56.88% | 101.36% | 61.78% | 39.10% | 26.65% | -7.61% | 7.19% | ||||
qoq | 5.59% | -0.81% | 14.83% | 7.40% | 1.83% | 12.25% | 5.97% | 3.16% | 6.18% | 13.70% | 9.39% | 3.34% | 12.36% | 15.02% | 30.53% | 4.59% | 13.93% | 6.35% | 6.34% | 5.99% | 3.31% | 12.82% | 11.58% | -14.96% | -23.02% | 10.52% | 6.43% | 0.36% | 7.12% | -175.38% | -272.85% | -0.47% | -1.03% | 20.75% | 58.86% | -5.26% | 22.97% | 18.55% | 6.88% | 0.68% | 57.83% | -4.75% | -8.10% | -8.33% | 15.14% | 10.50% | |
operating margin % | 41.52% | 42.38% | 44.73% | 42.84% | 41.42% | 43.36% | 41.39% | 42.01% | 41.54% | 39.93% | 36.33% | 35.86% | 36.76% | 35.46% | 34.50% | 31.70% | 32.24% | 31.16% | 31.01% | 30.90% | 30.01% | 31.12% | 30.89% | 28.61% | 31.85% | 34.93% | 34.00% | 32.64% | 32.51% | 32.09% | -46.13% | 29.36% | 29.79% | 32.18% | 28.78% | 21.88% | 23.63% | 21.71% | 19.78% | 20.54% | 20.13% | 14.39% | 16.80% | 19.97% | Infinity% | Infinity% | Infinity% |
other income | 104,500,000 | 98,900,000 | 94,000,000 | 96,200,000 | 89,275,000 | 97,660,000 | 70,863,000 | 62,620,000 | 54,477,000 | 41,815,000 | 56,339,000 | 12,146,000 | 16,926,000 | 6,817,000 | -533,000 | 31,480,000 | 1,500,000 | 1,346,000 | 1,719,000 | 1,575,000 | 5,542,000 | 13,224,000 | 8,256,000 | 12,157,000 | 11,183,000 | 19,169,000 | 13,811,000 | 12,333,000 | 5,509,000 | 9,292,000 | -1,489,000 | 4,843,000 | 2,988,000 | 2,136,000 | 1,119,000 | 1,025,000 | 560,000 | 639,000 | 416,000 | 337,000 | -109,000 | 13,000 | 417,000 | -468,000 | -151,000 | -824,000 | |
income before income taxes | 1,137,400,000 | 1,077,100,000 | 1,080,200,000 | 955,000,000 | 888,927,000 | 882,910,000 | 770,436,000 | 722,761,000 | 694,391,000 | 644,510,000 | 586,401,000 | 496,724,000 | 485,845,000 | 424,164,000 | 362,320,000 | 309,467,000 | 267,288,000 | 234,640,000 | 221,084,000 | 207,867,000 | 200,180,000 | 201,619,000 | 175,245,000 | 161,819,000 | 187,172,000 | 247,775,000 | 220,648,000 | 206,675,000 | 198,490,000 | 189,389,000 | -241,972,000 | ||||||||||||||||
provision for income taxes | 181,600,000 | 224,100,000 | 191,400,000 | 141,200,000 | 87,931,000 | 134,972,000 | 105,008,000 | 85,069,000 | 80,755,000 | 99,183,000 | 94,516,000 | 60,251,000 | 58,756,000 | 70,165,000 | 63,221,000 | 37,208,000 | 27,993,000 | 10,335,000 | 24,196,000 | 27,501,000 | 17,222,000 | 33,244,000 | 30,452,000 | 23,388,000 | -73,520,000 | 38,880,000 | 31,397,000 | 5,646,000 | 13,938,000 | ||||||||||||||||||
net income | 955,800,000 | 853,000,000 | 888,800,000 | 813,800,000 | 800,996,000 | 747,938,000 | 665,428,000 | 637,692,000 | 613,636,000 | 545,327,000 | 491,885,000 | 436,473,000 | 427,089,000 | 353,999,000 | 299,099,000 | 272,259,000 | 239,295,000 | 224,305,000 | 196,888,000 | 180,366,000 | 182,958,000 | 168,375,000 | 144,793,000 | 138,431,000 | 260,692,000 | 208,895,000 | 189,251,000 | 201,029,000 | 170,322,000 | 168,524,000 | -155,269,000 | 144,538,000 | 103,833,000 | 133,722,000 | 102,685,000 | 82,961,000 | 58,783,000 | 51,257,000 | 38,904,000 | 35,245,000 | 43,924,000 | 28,690,000 | 23,996,000 | 24,492,000 | 31,037,000 | 21,866,000 | 21,618,000 |
yoy | 19.33% | 14.05% | 33.57% | 27.62% | 30.53% | 37.15% | 35.28% | 46.10% | 43.68% | 54.05% | 64.46% | 60.32% | 78.48% | 57.82% | 51.91% | 50.95% | 30.79% | 33.22% | 35.98% | 30.29% | -29.82% | -19.40% | -23.49% | -31.14% | 53.06% | 23.96% | -221.89% | 39.08% | 64.03% | 26.03% | -251.21% | 74.22% | 76.64% | 160.89% | 163.94% | 135.38% | 33.83% | 78.66% | 62.13% | 43.90% | 41.52% | 31.21% | 11.00% | ||||
qoq | 12.05% | -4.03% | 9.22% | 1.60% | 7.09% | 12.40% | 4.35% | 3.92% | 12.53% | 10.86% | 12.70% | 2.20% | 20.65% | 18.36% | 9.86% | 13.78% | 6.68% | 13.93% | 9.16% | -1.42% | 8.66% | 16.29% | 4.60% | -46.90% | 24.80% | 10.38% | -5.86% | 18.03% | 1.07% | -208.54% | -207.42% | 39.20% | -22.35% | 30.23% | 23.78% | 41.13% | 14.68% | 31.75% | 10.38% | -19.76% | 53.10% | 19.56% | -2.03% | -21.09% | 41.94% | 1.15% | |
net income margin % | 38.42% | 36.95% | 40.31% | 40.59% | 41.49% | 41.30% | 39.37% | 40.58% | 39.84% | 36.13% | 33.72% | 32.30% | 33.48% | 30.08% | 28.43% | 31.04% | 29.02% | 29.96% | 27.84% | 27.02% | 28.21% | 27.81% | 26.79% | 26.47% | 47.18% | 31.92% | 31.11% | 33.76% | 28.59% | 29.92% | -29.87% | 30.59% | 22.19% | 30.56% | 25.34% | 24.73% | 17.92% | 17.66% | 14.48% | 14.55% | 17.90% | 13.19% | 12.27% | 13.68% | Infinity% | Infinity% | Infinity% |
net income per share | |||||||||||||||||||||||||||||||||||||||||||||||
basic | 0.76 | 0.68 | 0.71 | 0.65 | 1.635 | 2.38 | 2.12 | 2.04 | 1.97 | 1.76 | 1.59 | 1.42 | 1.39 | 1.16 | 0.98 | 0.88 | -5.12 | 2.92 | 2.58 | 2.36 | 2.41 | 2.22 | 1.91 | 1.82 | 3.41 | 2.73 | 2.47 | 2.65 | 2.27 | 2.25 | -2.08 | 1.95 | 1.42 | 1.84 | 1.42 | 1.16 | 0.84 | 0.74 | 0.57 | 0.52 | 0.65 | 0.42 | 0.36 | 0.37 | 0.49 | 0.34 | 0.37 |
diluted | 0.75 | 0.67 | 0.7 | 0.64 | 1.603 | 2.33 | 2.08 | 1.99 | 1.92 | 1.72 | 1.55 | 1.38 | 1.35 | 1.13 | 0.94 | 0.85 | -4.91 | 2.81 | 2.47 | 2.27 | 2.31 | 2.12 | 1.83 | 1.73 | 3.25 | 2.59 | 2.33 | 2.47 | 2.11 | 2.08 | -2.08 | 1.79 | 1.29 | 1.68 | 1.3 | 1.07 | 0.79 | 0.69 | 0.53 | 0.48 | 0.6 | 0.39 | 0.33 | 0.34 | 0.44 | 0.3 | 0.34 |
weighted-average shares used for eps calculation | |||||||||||||||||||||||||||||||||||||||||||||||
basic | 1,258 | 1,258 | 1,256.3 | 1,260 | 1,256,303 | 314,482 | 313,711 | 313,032 | 309,354 | 310,185 | 308,636 | 306,985 | 306,473 | 304,931 | 306,754 | 308,045 | 306,512 | 76,864 | 76,461 | 76,306 | 75,984 | 75,999 | 75,808 | 76,264 | 76,312 | 76,426 | 76,552 | 75,920 | 74,750 | 75,011 | 74,503 | 73,994 | 72,258 | 72,588 | 71,992 | 71,114 | 68,771 | 69,076 | 68,275 | 67,737 | 65,964 | 66,629 | 65,524 | 64,635 | 48,427 | 62,402 | 38,491 |
diluted | 1,275.7 | 1,276.6 | 1,271.2 | 1,279.2 | 1,281,077 | 320,448 | 319,921 | 319,865 | 317,135 | 317,631 | 316,485 | 315,578 | 316,459 | 314,401 | 316,581 | 319,652 | 319,238 | 79,909 | 79,710 | 79,623 | 79,465 | 79,313 | 79,298 | 79,939 | 80,879 | 80,753 | 81,335 | 81,201 | 80,844 | 81,018 | 74,503 | 80,721 | 78,977 | 79,322 | 78,756 | 77,516 | 73,222 | 73,453 | 72,817 | 72,214 | 71,411 | 71,887 | 71,215 | 70,722 | 54,590 | 69,737 | 44,057 |
net income attributable to common stockholders: | |||||||||||||||||||||||||||||||||||||||||||||||
basic | 182,958,000 | 168,375,000 | 144,793,000 | 138,431,000 | 260,583,000 | 208,799,000 | 189,152,000 | 200,911,000 | 170,220,000 | 168,439,000 | -155,187,000 | 144,449,000 | 103,757,000 | 133,540,000 | 102,454,000 | 82,694,000 | 58,490,000 | 50,962,000 | 38,617,000 | 34,921,000 | 43,251,000 | 28,301,000 | 23,607,000 | 24,032,000 | 28,333,000 | 21,185,000 | 14,212,000 | ||||||||||||||||||||
diluted | 182,958,000 | 168,375,000 | 144,793,000 | 138,431,000 | 260,588,000 | 208,804,000 | 189,158,000 | 200,918,000 | 170,228,000 | 168,445,000 | -155,187,000 | 144,456,000 | 103,764,000 | 133,555,000 | 102,474,000 | 82,716,000 | 58,508,000 | 50,980,000 | 38,635,000 | 34,941,000 | 43,297,000 | 28,329,000 | 23,638,000 | 24,071,000 | 28,615,000 | 21,255,000 | 14,851,000 | ||||||||||||||||||||
legal settlement | 405,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||
other income, net: | |||||||||||||||||||||||||||||||||||||||||||||||
interest expense | -661,000 | -673,000 | -680,000 | -687,000 | -741,000 | -701,000 | -623,000 | -715,000 | -918,000 | -735,000 | -732,000 | -751,000 | -746,000 | -753,000 | -832,000 | -821,000 | -768,000 | -764,000 | -1,085,000 | ||||||||||||||||||||||||||||
total other income | 12,333,000 | 4,848,000 | 8,619,000 | -2,169,000 | 4,156,000 | 2,247,000 | 1,435,000 | 496,000 | 310,000 | -358,000 | -96,000 | -316,000 | -414,000 | -855,000 | -740,000 | -415,000 | -1,289,000 | -919,000 | -1,588,000 | 1,037,000 | |||||||||||||||||||||||||||
benefit from income taxes | 28,168,000 | 20,865,000 | -86,703,000 | -1,644,000 | 37,802,000 | 8,545,000 | 14,445,000 | 18,354,000 | 11,668,000 | 14,076,000 | 4,618,000 | 1,867,000 | 8,448,000 | 9,974,000 | 7,046,000 | 10,420,000 | 10,074,000 | ||||||||||||||||||||||||||||||
income before benefit from income taxes | 142,894,000 | 141,635,000 | 142,267,000 | 117,130,000 | 77,137,000 | 62,925,000 | 49,321,000 | 48,542,000 | 30,557,000 | 32,444,000 | 34,466,000 | 38,083,000 | 32,286,000 | 31,692,000 | |||||||||||||||||||||||||||||||||
total gross profit | 188,651,000 | 280,617,000 | 259,777,000 | 214,210,000 | 128,240,250 | 186,420,000 | 171,451,000 | 155,090,000 | 96,848,000 | 141,748,000 | 127,890,000 | 117,754,000 | |||||||||||||||||||||||||||||||||||
income before benefit for income taxes | 73,728,000 | ||||||||||||||||||||||||||||||||||||||||||||||
benefit for income taxes | -9,233,000 | ||||||||||||||||||||||||||||||||||||||||||||||
income before provision for income taxes | 52,842,000 | ||||||||||||||||||||||||||||||||||||||||||||||
interest expense—related party | -350,000 | ||||||||||||||||||||||||||||||||||||||||||||||
revenue | 173,489,000 | 155,463,000 | 137,947,000 | ||||||||||||||||||||||||||||||||||||||||||||
cost of revenue | 57,049,000 | 54,506,000 | 44,567,000 | ||||||||||||||||||||||||||||||||||||||||||||
interest and other income | 2,472,000 |
Balance Sheets:
Quarterly
Annual
| Unit: USD | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-12-31 | 2019-09-30 | 2019-06-30 | 2019-03-31 | 2018-12-31 | 2018-09-30 | 2018-06-30 | 2018-03-31 | 2017-12-31 | 2017-09-30 | 2017-06-30 | 2017-03-31 | 2016-12-31 | 2016-09-30 | 2016-06-30 | 2016-03-31 | 2015-12-31 | 2015-09-30 | 2015-06-30 | 2015-03-31 | 2014-12-31 | 2014-09-30 | 2014-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
assets | |||||||||||||||||||||||||||||||||||||||||||||||
current assets: | |||||||||||||||||||||||||||||||||||||||||||||||
cash and cash equivalents | 1,963,900,000 | 2,326,600,000 | 2,225,500,000 | 1,845,100,000 | 2,762,357,000 | 3,175,139,000 | 2,429,031,000 | 2,092,101,000 | 1,938,606,000 | 1,748,818,000 | 1,261,836,000 | 956,341,000 | 671,707,000 | 716,253,000 | 493,246,000 | 635,025,000 | 620,813,000 | 630,982,000 | 893,688,000 | 843,336,000 | 893,219,000 | 970,349,000 | 800,182,000 | 761,333,000 | 1,111,286,000 | 1,095,265,000 | 944,414,000 | 809,491,000 | 649,950,000 | 524,687,000 | 711,157,000 | 886,160,000 | 859,192,000 | 854,479,000 | 823,475,000 | 746,567,000 | 567,923,000 | 500,481,000 | 531,058,000 | 710,663,000 | 687,326,000 | 418,500,000 | 342,958,000 | 275,186,000 | 240,031,000 | 408,596,000 | 397,198,000 |
marketable securities | 8,779,100,000 | 7,779,600,000 | 6,618,900,000 | 6,304,500,000 | 5,541,116,000 | 4,253,249,000 | 3,844,923,000 | 3,357,597,000 | 3,069,362,000 | 2,706,785,000 | 2,479,290,000 | 2,374,789,000 | 2,352,022,000 | 2,263,818,000 | 2,408,656,000 | 2,788,889,000 | 2,787,502,000 | 2,755,499,000 | 2,388,015,000 | 2,184,330,000 | 1,979,649,000 | 1,875,552,000 | 1,981,589,000 | 1,875,660,000 | 1,613,082,000 | 1,351,775,000 | 1,313,389,000 | 1,341,427,000 | 1,306,197,000 | 1,137,112,000 | 1,149,247,000 | 851,880,000 | 676,363,000 | 488,635,000 | 301,364,000 | 296,675,000 | 299,910,000 | 299,667,000 | 292,760,000 | 51,589,000 | 150,117,000 | 208,805,000 | 209,153,000 | 209,426,000 | |||
accounts receivable | 1,886,900,000 | 1,489,400,000 | 1,623,600,000 | 1,435,900,000 | 1,140,478,000 | 1,130,897,000 | 1,226,795,000 | 1,090,041,000 | 1,024,569,000 | 833,374,000 | 779,726,000 | 862,875,000 | 923,096,000 | 651,512,000 | 585,786,000 | 648,606,000 | 516,509,000 | 395,590,000 | 364,214,000 | 380,466,000 | 389,540,000 | 300,217,000 | 383,225,000 | 352,159,000 | 391,987,000 | 447,252,000 | 343,080,000 | 271,246,000 | 331,777,000 | 322,053,000 | 260,917,000 | 207,339,000 | 247,346,000 | 212,611,000 | 269,624,000 | 209,062,000 | 253,119,000 | 210,243,000 | 146,659,000 | 135,119,000 | 144,263,000 | 160,230,000 | 122,342,000 | 113,057,000 | 96,982,000 | 84,063,000 | 67,946,000 |
inventories | 2,247,100,000 | 2,155,700,000 | 2,059,100,000 | 1,957,300,000 | 1,834,572,000 | 1,769,962,000 | 1,853,776,000 | 2,025,204,000 | 1,945,180,000 | 1,893,538,000 | 1,864,334,000 | 1,682,703,000 | 1,289,706,000 | 1,100,550,000 | 852,810,000 | 694,217,000 | 650,117,000 | 575,665,000 | 543,199,000 | 483,168,000 | 479,668,000 | 438,102,000 | 326,997,000 | 261,798,000 | 243,825,000 | 239,802,000 | 314,177,000 | 347,153,000 | 264,557,000 | 216,313,000 | 245,439,000 | 268,131,000 | 306,198,000 | 333,157,000 | 363,803,000 | 286,786,000 | 236,490,000 | 162,128,000 | 118,130,000 | 84,030,000 | 92,129,000 | 109,921,000 | 100,304,000 | 91,225,000 | 80,519,000 | 62,587,000 | 71,068,000 |
prepaid expenses and other current assets | 1,510,000,000 | 1,433,500,000 | 976,400,000 | 733,500,000 | 632,292,000 | 548,693,000 | 487,793,000 | 361,340,000 | 412,518,000 | 472,483,000 | 466,371,000 | 393,825,000 | 314,217,000 | 299,545,000 | 388,697,000 | 338,437,000 | 237,735,000 | 166,222,000 | 139,279,000 | 111,595,000 | 94,922,000 | 69,647,000 | 84,885,000 | 85,949,000 | 111,456,000 | 106,326,000 | 113,458,000 | 131,657,000 | 162,321,000 | 235,881,000 | 253,802,000 | 165,664,000 | 177,330,000 | 186,657,000 | 190,923,000 | 197,735,000 | 168,684,000 | 151,659,000 | 53,447,000 | 41,732,000 | 50,610,000 | 62,135,000 | 63,535,000 | 37,622,000 | 40,269,000 | 16,409,000 | 9,768,000 |
total current assets | 16,387,000,000 | 15,184,800,000 | 13,503,500,000 | 12,276,300,000 | 11,910,815,000 | 10,877,940,000 | 9,842,318,000 | 8,926,283,000 | 8,390,235,000 | 7,654,998,000 | 6,851,557,000 | 6,270,533,000 | 5,550,748,000 | 5,031,678,000 | 4,729,195,000 | 5,105,174,000 | 4,812,676,000 | 4,523,958,000 | 4,328,395,000 | 4,002,895,000 | 3,836,998,000 | 3,653,867,000 | 3,576,878,000 | 3,336,899,000 | 3,471,636,000 | 3,240,420,000 | 3,028,518,000 | 2,900,974,000 | 2,714,802,000 | 2,436,046,000 | 2,620,562,000 | 2,379,174,000 | 2,266,429,000 | 2,075,539,000 | 1,949,189,000 | 1,736,825,000 | 1,526,126,000 | 1,324,178,000 | 1,142,054,000 | 1,023,133,000 | 974,328,000 | 921,100,000 | 850,212,000 | 736,044,000 | 679,479,000 | 588,351,000 | 562,676,000 |
property and equipment | 203,100,000 | 172,600,000 | 152,300,000 | 123,900,000 | 98,845,000 | 93,034,000 | 96,282,000 | 97,949,000 | 101,580,000 | 102,592,000 | 101,705,000 | 97,157,000 | 95,009,000 | 96,449,000 | 91,823,000 | 87,391,000 | 78,634,000 | 75,373,000 | 32,362,000 | 32,462,000 | 32,231,000 | 32,670,000 | 35,263,000 | 37,806,000 | 39,273,000 | 40,188,000 | 41,023,000 | 41,529,000 | 75,355,000 | 75,397,000 | 73,736,000 | 73,825,000 | 74,279,000 | 73,061,000 | 75,840,000 | 76,319,000 | 76,961,000 | 78,147,000 | 79,681,000 | 79,944,000 | 79,706,000 | 75,248,000 | 73,178,000 | 72,787,000 | 71,558,000 | 66,991,000 | 68,799,000 |
goodwill | 416,100,000 | 416,200,000 | 416,500,000 | 268,500,000 | 268,531,000 | 268,531,000 | 268,531,000 | 268,531,000 | 268,531,000 | 265,924,000 | 265,924,000 | 271,018,000 | 273,494,000 | 216,915,000 | 188,397,000 | 188,397,000 | 188,277,000 | 188,277,000 | 189,696,000 | 84,968,000 | 84,968,000 | 84,781,000 | 54,855,000 | 54,855,000 | 53,684,000 | 53,684,000 | 53,684,000 | 55,168,000 | |||||||||||||||||||
deferred tax assets | 1,773,600,000 | 1,665,400,000 | 1,802,500,000 | 1,544,300,000 | 1,440,418,000 | 1,318,224,000 | 1,177,172,000 | 1,025,861,000 | 945,792,000 | 793,015,000 | 705,856,000 | 646,066,000 | 574,912,000 | 473,808,000 | 442,455,000 | 446,347,000 | 442,295,000 | 428,764,000 | 433,674,000 | 438,277,000 | 441,531,000 | 443,229,000 | 446,254,000 | 448,432,000 | 452,025,000 | 110,630,000 | 113,660,000 | 126,045,000 | 126,492,000 | 114,282,000 | 82,761,000 | 68,020,000 | 65,125,000 | 95,697,000 | 81,469,000 | 70,433,000 | 70,960,000 | 62,221,000 | 55,305,000 | 50,026,000 | 20,197,000 | 12,268,000 | 9,801,000 | 12,252,000 | 8,696,000 | 8,696,000 | |
other assets | 668,800,000 | 609,800,000 | 659,400,000 | 245,200,000 | 263,303,000 | 220,295,000 | 163,544,000 | 149,477,000 | 151,900,000 | 33,265,000 | 31,696,000 | 47,092,000 | 73,754,000 | 59,655,000 | 46,610,000 | 41,819,000 | 33,443,000 | 32,524,000 | 33,433,000 | 33,190,000 | 30,071,000 | 22,807,000 | 25,493,000 | 27,027,000 | 30,346,000 | 29,360,000 | 27,106,000 | 25,063,000 | 22,704,000 | 20,199,000 | 20,019,000 | 22,879,000 | 18,891,000 | 21,277,000 | 20,306,000 | 19,885,000 | 18,824,000 | 18,398,000 | 18,812,000 | 20,208,000 | 20,791,000 | 20,861,000 | 17,053,000 | 17,334,000 | 11,840,000 | 27,559,000 | |
total assets | 19,448,600,000 | 18,048,800,000 | 16,534,200,000 | 14,514,600,000 | 14,043,921,000 | 12,846,723,000 | 11,623,235,000 | 10,550,179,000 | 9,946,806,000 | 9,069,035,000 | 8,186,041,000 | 7,543,066,000 | 6,775,410,000 | 6,162,010,000 | 5,824,545,000 | 6,108,186,000 | 5,734,429,000 | 5,437,350,000 | 5,208,280,000 | 4,893,730,000 | 4,738,919,000 | 4,399,372,000 | 4,335,851,000 | 4,111,845,000 | 4,185,290,000 | 3,619,825,000 | 3,441,292,000 | 3,332,444,000 | 3,081,983,000 | 2,798,238,000 | 2,832,114,000 | 2,580,034,000 | 2,460,860,000 | 2,301,710,000 | 2,162,940,000 | 1,939,598,000 | 1,729,007,000 | 1,519,080,000 | 1,334,988,000 | 1,209,947,000 | 1,159,890,000 | 1,072,892,000 | 990,839,000 | 875,092,000 | 811,023,000 | 691,883,000 | 642,778,000 |
liabilities and stockholders’ equity | |||||||||||||||||||||||||||||||||||||||||||||||
current liabilities: | |||||||||||||||||||||||||||||||||||||||||||||||
accounts payable | 651,700,000 | 481,000,000 | 543,900,000 | 389,100,000 | 381,083,000 | 289,161,000 | 297,832,000 | 223,305,000 | 435,059,000 | 268,972,000 | 351,920,000 | 330,171,000 | 232,572,000 | 278,469,000 | 275,093,000 | 204,675,000 | 202,636,000 | 135,252,000 | 145,159,000 | 136,885,000 | 134,235,000 | 163,102,000 | 122,872,000 | 84,815,000 | 92,105,000 | 78,600,000 | 86,134,000 | 89,823,000 | 93,757,000 | 85,097,000 | 53,182,000 | 70,431,000 | 52,200,000 | 32,893,000 | 80,418,000 | 60,984,000 | 79,457,000 | 77,048,000 | 60,097,000 | 24,808,000 | 43,966,000 | 31,487,000 | 43,831,000 | 29,123,000 | 32,428,000 | 19,845,000 | 20,000,000 |
accrued liabilities | 475,400,000 | 471,000,000 | 380,700,000 | 263,100,000 | 435,277,000 | 323,990,000 | 320,071,000 | 270,586,000 | 407,302,000 | 410,071,000 | 363,036,000 | 351,764,000 | 292,487,000 | 240,609,000 | 210,334,000 | 197,063,000 | 226,643,000 | 174,425,000 | 163,245,000 | 122,466,000 | 143,357,000 | 110,348,000 | 100,070,000 | 100,443,000 | 140,249,000 | 128,930,000 | 113,898,000 | 104,228,000 | 123,254,000 | 103,108,000 | 86,693,000 | 85,728,000 | 133,827,000 | 94,459,000 | 84,413,000 | 75,291,000 | 90,951,000 | 77,163,000 | 55,110,000 | 46,113,000 | 60,971,000 | 58,979,000 | 43,347,000 | 28,920,000 | 40,369,000 | 32,246,000 | 28,016,000 |
deferred revenue | 4,002,600,000 | 3,520,700,000 | 2,787,600,000 | 2,072,700,000 | 1,727,280,000 | 1,599,590,000 | 1,329,450,000 | 997,914,000 | 915,204,000 | 698,675,000 | 624,207,000 | 671,700,000 | 637,432,000 | 607,189,000 | 697,762,000 | 778,436,000 | 593,578,000 | 511,354,000 | 482,112,000 | 457,799,000 | 396,259,000 | 321,290,000 | 328,525,000 | 332,175,000 | 312,668,000 | 291,384,000 | 272,366,000 | 304,729,000 | 358,586,000 | 318,850,000 | 262,345,000 | 274,677,000 | 327,706,000 | 423,705,000 | 426,750,000 | 383,245,000 | 273,350,000 | 191,094,000 | 138,885,000 | 135,524,000 | 122,049,000 | 124,740,000 | 107,245,000 | 81,826,000 | 60,327,000 | 40,277,000 | 37,888,000 |
other current liabilities | 246,800,000 | 193,900,000 | 339,200,000 | 147,600,000 | 188,582,000 | 221,633,000 | 214,526,000 | 291,259,000 | 152,041,000 | 469,007,000 | 316,629,000 | 231,274,000 | 131,040,000 | 128,645,000 | 94,837,000 | 188,831,000 | 86,972,000 | 72,356,000 | 69,419,000 | 69,382,000 | 94,392,000 | 70,043,000 | 88,714,000 | 55,574,000 | 52,052,000 | 49,275,000 | 52,622,000 | 44,413,000 | 30,907,000 | 32,727,000 | 19,543,000 | 26,943,000 | 16,172,000 | 16,490,000 | 19,216,000 | 12,993,000 | 15,795,000 | 9,777,000 | 9,347,000 | 7,819,000 | 8,025,000 | 9,760,000 | 8,075,000 | 8,462,000 | 11,249,000 | 9,428,000 | 11,790,000 |
total current liabilities | 5,376,500,000 | 4,666,600,000 | 4,051,400,000 | 3,121,600,000 | 2,732,222,000 | 2,434,374,000 | 2,161,879,000 | 1,783,064,000 | 1,909,606,000 | 1,846,725,000 | 1,655,792,000 | 1,584,909,000 | 1,293,531,000 | 1,254,912,000 | 1,278,026,000 | 1,369,005,000 | 1,109,829,000 | 893,387,000 | 859,935,000 | 786,532,000 | 768,243,000 | 664,783,000 | 640,181,000 | 573,007,000 | 597,074,000 | 548,189,000 | 525,020,000 | 543,193,000 | 606,504,000 | 539,782,000 | 826,763,000 | 457,779,000 | 529,905,000 | 567,547,000 | 610,797,000 | 532,513,000 | 459,553,000 | 355,082,000 | 263,439,000 | 214,264,000 | 235,011,000 | 224,966,000 | 202,498,000 | 148,331,000 | 144,373,000 | 101,796,000 | 97,694,000 |
deferred revenue, non-current | 1,369,800,000 | 1,165,500,000 | 1,274,100,000 | 1,016,100,000 | 1,064,135,000 | 907,741,000 | 789,336,000 | 665,328,000 | 591,000,000 | 496,076,000 | 460,697,000 | 420,574,000 | 403,814,000 | 333,855,000 | 335,728,000 | 345,310,000 | 335,734,000 | 289,086,000 | 263,978,000 | 262,232,000 | 254,568,000 | 241,014,000 | 248,986,000 | 264,600,000 | 262,620,000 | 237,628,000 | 229,852,000 | 231,742,000 | 228,641,000 | 211,005,000 | 186,299,000 | 181,377,000 | 187,556,000 | 141,440,000 | 127,760,000 | 113,925,000 | 99,585,000 | 93,741,000 | 91,439,000 | 83,696,000 | 74,759,000 | 65,966,000 | 57,198,000 | 50,998,000 | 46,141,000 | ||
other long-term liabilities | 331,800,000 | 309,600,000 | 307,100,000 | 257,800,000 | 252,757,000 | 142,115,000 | 133,379,000 | 132,293,000 | 131,390,000 | 67,975,000 | 61,546,000 | 58,385,000 | 58,400,000 | 58,791,000 | 60,337,000 | 57,672,000 | 54,749,000 | 51,165,000 | 47,508,000 | 44,620,000 | 42,431,000 | 39,165,000 | 38,679,000 | 38,099,000 | 37,693,000 | 30,627,000 | 25,351,000 | 25,601,000 | 31,851,000 | 23,065,000 | 22,116,000 | 21,343,000 | 9,745,000 | 7,811,000 | 7,992,000 | 8,069,000 | 7,958,000 | 6,900,000 | 6,754,000 | 6,385,000 | 6,698,000 | 6,011,000 | 5,839,000 | 5,558,000 | 4,981,000 | 39,312,000 | 25,718,000 |
total liabilities | 7,078,100,000 | 6,141,700,000 | 5,632,600,000 | 4,395,500,000 | 4,049,114,000 | 3,600,834,000 | 3,192,427,000 | 2,687,864,000 | 2,727,747,000 | 2,563,480,000 | 2,328,459,000 | 2,213,892,000 | 1,889,590,000 | 1,776,792,000 | 1,818,753,000 | 1,955,009,000 | 1,755,829,000 | 1,572,090,000 | 1,510,439,000 | 1,442,392,000 | 1,418,628,000 | 1,315,495,000 | 1,299,368,000 | 1,263,019,000 | 1,290,604,000 | 963,821,000 | 915,732,000 | 932,077,000 | 938,594,000 | 852,362,000 | 1,112,141,000 | 734,995,000 | 798,946,000 | 777,158,000 | 805,191,000 | 711,224,000 | 621,187,000 | 507,660,000 | 418,156,000 | 360,090,000 | 371,738,000 | 349,718,000 | 325,297,000 | 264,621,000 | 255,365,000 | 198,961,000 | 181,592,000 |
commitments and contingencies | |||||||||||||||||||||||||||||||||||||||||||||||
stockholders’ equity: | |||||||||||||||||||||||||||||||||||||||||||||||
preferred stock, 0.0001 par value—100 shares authorized and no shares issued and outstanding as of december 31, 2025 and 2024 | |||||||||||||||||||||||||||||||||||||||||||||||
common stock | 100,000 | 100,000 | 100,000 | 100,000 | 126,000 | 31,000 | 31,000 | 31,000 | 31,000 | 31,000 | 31,000 | 31,000 | 31,000 | 31,000 | 30,000 | 31,000 | 31,000 | 8,000 | 8,000 | 8,000 | 8,000 | 8,000 | 8,000 | 8,000 | 8,000 | 8,000 | 8,000 | 8,000 | 8,000 | 8,000 | 8,000 | 8,000 | 7,000 | 7,000 | 7,000 | 7,000 | 7,000 | 7,000 | 7,000 | 7,000 | 7,000 | 7,000 | 7,000 | 7,000 | 7,000 | 7,000 | 7,000 |
additional paid-in capital | 2,911,800,000 | 2,784,100,000 | 2,635,600,000 | 2,551,700,000 | 2,465,409,000 | 2,371,010,000 | 2,263,356,000 | 2,185,149,000 | 2,108,331,000 | 2,028,301,000 | 1,927,697,000 | 1,857,467,000 | 1,780,714,000 | 1,717,605,000 | 1,638,787,000 | 1,590,793,000 | 1,530,046,000 | 1,473,595,000 | 1,395,459,000 | 1,345,569,000 | 1,292,431,000 | 1,240,147,000 | 1,185,093,000 | 1,149,224,000 | 1,106,305,000 | 1,076,732,000 | 1,038,740,000 | 1,005,405,000 | 956,572,000 | 929,829,000 | 872,559,000 | 841,431,000 | 804,731,000 | 770,339,000 | 737,436,000 | 711,123,000 | 674,183,000 | 636,074,000 | 592,465,000 | 564,342,000 | 537,904,000 | 516,607,000 | 487,376,000 | 456,509,000 | 426,171,000 | 394,186,000 | 384,253,000 |
retained earnings | 9,446,600,000 | 9,115,100,000 | 8,262,100,000 | 7,569,200,000 | 7,542,460,000 | 6,865,260,000 | 6,182,479,000 | 5,689,064,000 | 5,114,025,000 | 4,500,389,000 | 3,955,062,000 | 3,493,181,000 | 3,138,983,000 | 2,714,711,000 | 2,408,294,000 | 2,592,854,000 | 2,456,823,000 | 2,393,661,000 | 2,303,513,000 | 2,106,625,000 | 2,027,614,000 | 1,844,656,000 | 1,843,559,000 | 1,698,766,000 | 1,788,230,000 | 1,579,063,000 | 1,484,777,000 | 1,395,534,000 | 1,190,803,000 | 1,020,481,000 | 851,957,000 | 1,007,226,000 | 859,114,000 | 755,281,000 | 621,559,000 | 518,874,000 | 435,105,000 | 376,322,000 | 325,065,000 | 286,161,000 | 250,916,000 | 206,991,000 | 178,302,000 | 154,306,000 | 129,814,000 | 98,777,000 | 76,911,000 |
accumulated other comprehensive income | 12,000,000 | 7,800,000 | 3,800,000 | -1,900,000 | -13,188,000 | 9,588,000 | -15,058,000 | -11,929,000 | -3,328,000 | -23,166,000 | -25,208,000 | -21,505,000 | -33,908,000 | -47,129,000 | -41,319,000 | -30,501,000 | -8,300,000 | -2,004,000 | -1,139,000 | -864,000 | 238,000 | -934,000 | 7,823,000 | 828,000 | 143,000 | 201,000 | 2,035,000 | -334,000 | -48,000 | 15,000 | |||||||||||||||||
total stockholders’ equity | 12,370,500,000 | 11,907,100,000 | 10,901,600,000 | 10,119,100,000 | 9,994,807,000 | 9,245,889,000 | 8,430,808,000 | 7,862,315,000 | 7,219,059,000 | 6,505,555,000 | 5,857,582,000 | 5,329,174,000 | 4,885,820,000 | 4,385,218,000 | 4,005,792,000 | 4,153,177,000 | 3,978,600,000 | 3,865,260,000 | 3,697,841,000 | 3,451,338,000 | 3,320,291,000 | 3,083,877,000 | 3,036,483,000 | 2,848,826,000 | 2,894,686,000 | 2,656,004,000 | 2,525,560,000 | 2,400,367,000 | 2,143,389,000 | 1,945,876,000 | 1,719,973,000 | 1,845,039,000 | 1,661,914,000 | 1,524,552,000 | 1,357,749,000 | 1,228,374,000 | 1,107,820,000 | 1,011,420,000 | 916,832,000 | 849,857,000 | 788,152,000 | 723,174,000 | 665,542,000 | 610,471,000 | 555,658,000 | 492,922,000 | 461,186,000 |
total liabilities and stockholders’ equity | 19,448,600,000 | 18,048,800,000 | 16,534,200,000 | 14,514,600,000 | 14,043,921,000 | 12,846,723,000 | 11,623,235,000 | 10,550,179,000 | 9,946,806,000 | 9,069,035,000 | 8,186,041,000 | 7,543,066,000 | 6,775,410,000 | 6,162,010,000 | 5,824,545,000 | 6,108,186,000 | 5,734,429,000 | 5,437,350,000 | 5,208,280,000 | 4,893,730,000 | 4,738,919,000 | 4,399,372,000 | 4,335,851,000 | 4,111,845,000 | 4,185,290,000 | 3,619,825,000 | 3,441,292,000 | 3,332,444,000 | 3,081,983,000 | 2,798,238,000 | 2,832,114,000 | 2,580,034,000 | 2,460,860,000 | 2,301,710,000 | 2,162,940,000 | 1,939,598,000 | 1,729,007,000 | 1,519,080,000 | 1,334,988,000 | 1,209,947,000 | 1,159,890,000 | 1,072,892,000 | 990,839,000 | 875,092,000 | 811,023,000 | 691,883,000 | 642,778,000 |
preferred stock, 0.0001 par value—100 shares authorized and no shares issued and outstanding as of september 30, 2025 and december 31, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||
preferred stock, 0.0001 par value—100 shares authorized and no shares issued and outstanding as of june 30, 2025 and december 31, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||
acquisition-related intangible assets | 56,400,000 | 75,388,000 | 82,078,000 | 88,768,000 | 95,458,000 | 103,575,000 | 112,890,000 | 122,205,000 | 131,520,000 | 140,836,000 | 105,244,000 | 93,555,000 | 100,713,000 | 107,995,000 | 115,359,000 | 122,790,000 | 77,752,000 | 83,562,000 | 89,373,000 | 45,235,000 | 48,319,000 | 51,612,000 | 55,111,000 | 58,610,000 | 62,110,000 | ||||||||||||||||||||||
income taxes payable | 249,100,000 | 116,604,000 | 107,833,000 | 107,179,000 | 95,751,000 | 104,660,000 | 98,722,000 | 94,733,000 | 89,839,000 | 82,167,000 | 79,422,000 | 74,497,000 | 69,916,000 | 62,563,000 | 57,977,000 | 55,314,000 | 53,053,000 | 47,918,000 | 45,971,000 | 58,507,000 | 55,485,000 | 60,278,000 | 45,804,000 | 37,925,000 | 36,167,000 | 42,470,000 | 40,369,000 | 37,358,000 | 34,067,000 | 22,161,000 | 19,970,000 | 17,581,000 | 14,498,000 | 11,896,000 | 16,086,000 | 14,918,000 | 14,060,000 | 11,188,000 | 17,850,000 | 17,502,000 | 17,323,000 | 15,022,000 | 15,072,000 | ||||
preferred stock, 0.0001 par value—100 shares authorized and no shares issued and outstanding as of march 31, 2025 and december 31, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||
goodwill and acquisition-related intangible assets | 330,540,000 | 337,230,000 | |||||||||||||||||||||||||||||||||||||||||||||
preferred stock, 0.0001 par value—100,000 shares authorized and no shares issued and outstanding as of december 31, 2024 and 2023 | |||||||||||||||||||||||||||||||||||||||||||||||
preferred stock, 0.0001 par value—100,000 shares authorized and no shares issued and outstanding as of september 30, 2024 and december 31, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||
preferred stock, 0.0001 par value—100,000 shares authorized and no shares issued and outstanding as of june 30, 2024 and december 31, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||
preferred stock, 0.0001 par value—100,000 shares authorized and no shares issued and outstanding as of march 31, 2024 and december 31, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||
preferred stock, 0.0001 par value—100,000 shares authorized and no shares issued and outstanding as of december 31, 2023 and 2022 | |||||||||||||||||||||||||||||||||||||||||||||||
investments | 62,288,000 | 61,788,000 | 39,401,000 | 39,468,000 | 39,677,000 | 38,263,000 | 38,625,000 | 20,247,000 | 18,247,000 | 13,647,000 | 10,314,000 | 8,314,000 | 4,150,000 | 4,150,000 | 4,150,000 | 4,150,000 | 4,150,000 | 31,486,000 | 31,486,000 | 30,336,000 | 35,036,000 | 35,036,000 | 36,136,000 | 36,136,000 | 36,136,000 | 36,136,000 | 36,136,000 | 36,136,000 | 36,136,000 | 39,136,000 | 36,636,000 | 36,636,000 | 36,636,000 | 36,636,000 | 36,636,000 | ||||||||||||
operating lease right-of-use assets | 58,888,000 | 61,333,000 | 64,003,000 | 53,390,000 | 58,205,000 | 61,869,000 | 66,671,000 | 65,182,000 | 69,374,000 | 70,497,000 | 72,956,000 | 77,288,000 | 79,929,000 | 79,283,000 | 83,377,000 | 87,770,000 | 91,903,000 | 94,203,000 | 98,552,000 | ||||||||||||||||||||||||||||
operating lease liabilities, non-current | 48,044,000 | 51,702,000 | 55,291,000 | 43,964,000 | 47,067,000 | 51,793,000 | 57,474,000 | 56,527,000 | 61,628,000 | 64,295,000 | 67,770,000 | 72,397,000 | 74,903,000 | 74,259,000 | 78,502,000 | 83,022,000 | 87,099,000 | 89,705,000 | 93,616,000 | ||||||||||||||||||||||||||||
preferred stock, 0.0001 par value—100,000 shares authorized and no shares issued and outstanding as of september 30, 2023 and december 31, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||
preferred stock, 0.0001 par value—100,000 shares authorized and no shares issued and outstanding as of june 30, 2023 and december 31, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||
preferred stock, 0.0001 par value—100,000 shares authorized and no shares issued and outstanding as of march 31, 2023 and december 31, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||
deferred tax liabilities, non-current | 42,000 | 13,447,000 | 51,051,000 | 129,074,000 | 214,261,000 | 216,746,000 | 225,924,000 | 227,936,000 | 247,712,000 | 251,292,000 | 250,304,000 | 254,710,000 | |||||||||||||||||||||||||||||||||||
preferred stock, 0.0001 par value—100,000 shares authorized and no shares issued and outstanding as of december 31, 2022 and 2021 | |||||||||||||||||||||||||||||||||||||||||||||||
preferred stock, 0.0001 par value—100,000 shares authorized and no shares issued and outstanding as of september 30, 2022 and december 31, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||
preferred stock, 0.0001 par value—100,000 shares authorized and no shares issued and outstanding as of june 30, 2022 and december 31, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||
preferred stock, 0.0001 par value—100,000 shares authorized and no shares issued and outstanding as of march 31, 2022 and december 31, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||
preferred stock, 0.0001 par value—100,000 shares authorized and no shares issued and outstanding as of december 31, 2021 and 2020 | |||||||||||||||||||||||||||||||||||||||||||||||
preferred stock, 0.0001 par value—100,000 shares authorized and no shares issued and outstanding as of september 30, 2021 and december 31, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||
preferred stock, 0.0001 par value—100,000 shares authorized and no shares issued and outstanding as of june 30, 2021 and december 31, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||
preferred stock, 0.0001 par value—100,000 shares authorized and no shares issued and outstanding as of march 31, 2021 and december 31, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||
preferred stock, 0.0001 par value—100,000 shares authorized and no shares issued and outstanding as of december 31, 2020 and 2019 | |||||||||||||||||||||||||||||||||||||||||||||||
preferred stock, 0.0001 par value—100,000 shares authorized and no shares issued and outstanding as of september 30, 2020 and december 31, 2019 | |||||||||||||||||||||||||||||||||||||||||||||||
preferred stock, 0.0001 par value—100,000 shares authorized and no shares issued and outstanding as of june 30, 2020 and december 31, 2019 | |||||||||||||||||||||||||||||||||||||||||||||||
preferred stock, 0.0001 par value—100,000 shares authorized and no shares issued and outstanding as of march 31, 2020 and december 31, 2019 | |||||||||||||||||||||||||||||||||||||||||||||||
finance lease liabilities, non-current | |||||||||||||||||||||||||||||||||||||||||||||||
preferred stock, 0.0001 par value—100,000 shares authorized and no shares issued and outstanding as of december 31, 2019 and 2018 | |||||||||||||||||||||||||||||||||||||||||||||||
preferred stock, 0.0001 par value—100,000 shares authorized and no shares issued and outstanding as of september 30, 2019 and december 31, 2018 | |||||||||||||||||||||||||||||||||||||||||||||||
preferred stock, 0.0001 par value—100,000 shares authorized and no shares issued and outstanding as of june 30, 2019 and december 31, 2018 | |||||||||||||||||||||||||||||||||||||||||||||||
preferred stock, 0.0001 par value—100,000 shares authorized and no shares issued and outstanding as of march 31, 2019 and december 31, 2018 | |||||||||||||||||||||||||||||||||||||||||||||||
accumulated other comprehensive loss | -580,000 | -3,994,000 | -4,442,000 | -4,551,000 | -3,626,000 | -1,938,000 | -1,075,000 | -1,253,000 | -1,630,000 | -1,475,000 | -983,000 | -705,000 | -653,000 | -675,000 | -431,000 | -143,000 | -351,000 | ||||||||||||||||||||||||||||||
lease financing obligations, non-current | 35,431,000 | 36,040,000 | 36,594,000 | 37,138,000 | 37,673,000 | 38,199,000 | 38,672,000 | 39,136,000 | 39,593,000 | 40,041,000 | 40,438,000 | 40,827,000 | 41,210,000 | 41,587,000 | 41,912,000 | 42,232,000 | 42,547,000 | 42,831,000 | 43,108,000 | ||||||||||||||||||||||||||||
preferred stock, 0.0001 par value—100,000 shares authorized and no shares issued and outstanding as of december 31, 2018 and 2017 | |||||||||||||||||||||||||||||||||||||||||||||||
preferred stock, 0.0001 par value—100,000 shares authorized and no shares issued and outstanding as of september 30, 2018 and december 31, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||
accrued legal settlement | 405,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||
preferred stock, 0.0001 par value—100,000 shares authorized and no shares issued and outstanding as of june 30, 2018 and december 31, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||
preferred stock, 0.0001 par value—100,000 shares authorized and no shares issued and outstanding as of march 31, 2018 and december 31, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||
preferred stock, 0.0001 par value—100,000 shares authorized and no shares issued and outstanding as of december 31, 2017 and 2016 | |||||||||||||||||||||||||||||||||||||||||||||||
preferred stock, 0.0001 par value—100,000 shares authorized, no shares issued and outstanding as of september 30, 2017 and december 31, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||
preferred stock, 0.0001 par value—100,000 shares authorized, no shares issued and outstanding as of june 30, 2017 and december 31, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||
preferred stock, 0.0001 par value—100,000 shares authorized, no shares issued and outstanding as of march 31, 2017 and december 31, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||
preferred stock, 0.0001 par value—100,000 shares authorized and no shares issued and outstanding as of december 31, 2016 and 2015 | |||||||||||||||||||||||||||||||||||||||||||||||
preferred stock, 0.0001 par value—100,000 shares authorized, no shares issued and outstanding as of september 30, 2016 and december 31, 2015 | |||||||||||||||||||||||||||||||||||||||||||||||
preferred stock, 0.0001 par value—100,000 shares authorized, no shares issued and outstanding as of june 30, 2016 and december 31, 2015 | |||||||||||||||||||||||||||||||||||||||||||||||
preferred stock, 0.0001 par value—100,000 shares authorized, no shares issued and outstanding as of march 31, 2016 and december 31, 2015 | |||||||||||||||||||||||||||||||||||||||||||||||
preferred stock, 0.0001 par value—100,000 shares authorized, no shares issued and outstanding as of december 31, 2015 and 2014 | |||||||||||||||||||||||||||||||||||||||||||||||
preferred stock, 0.0001 par value—100,000 shares authorized, no shares issued and outstanding as of september 30, 2015 and december 31, 2014 | |||||||||||||||||||||||||||||||||||||||||||||||
preferred stock, 0.0001 par value—100,000 shares authorized, no shares issued and outstanding as of june 30, 2015 and december 31, 2014 | |||||||||||||||||||||||||||||||||||||||||||||||
preferred stock, 0.0001 par value—100,000 shares authorized, no shares issued and outstanding as of march 31, 2015 and december 31, 2014 | |||||||||||||||||||||||||||||||||||||||||||||||
investments, non-current | 36,636,000 | ||||||||||||||||||||||||||||||||||||||||||||||
convertible notes payable, related party | |||||||||||||||||||||||||||||||||||||||||||||||
accrued interest payable, related party | |||||||||||||||||||||||||||||||||||||||||||||||
convertible notes payable | |||||||||||||||||||||||||||||||||||||||||||||||
accrued interest payable | |||||||||||||||||||||||||||||||||||||||||||||||
preferred stock, 0.0001 par value—100,000 shares authorized, no shares issued and outstanding as of december 31, 2014; no shares authorized, issued and outstanding as of december 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||
convertible preferred stock | |||||||||||||||||||||||||||||||||||||||||||||||
notes receivable | 8,000,000 | 8,000,000 | |||||||||||||||||||||||||||||||||||||||||||||
preferred stock, 0.0001 par value-100,000 shares authorized, no shares issued and outstanding as of september 30, 2014; no shares authorized, issued and outstanding as of december 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||
restricted cash | |||||||||||||||||||||||||||||||||||||||||||||||
deposits and other assets | 3,806,000 | ||||||||||||||||||||||||||||||||||||||||||||||
preferred stock, 0.0001 par value—100,000 shares authorized, no shares issued and outstanding as of june 30, 2014; no shares authorized, issued and outstanding as of december 31, 2013 |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-12-31 | 2019-09-30 | 2019-06-30 | 2019-03-31 | 2018-12-31 | 2018-09-30 | 2018-06-30 | 2018-03-31 | 2017-12-31 | 2017-09-30 | 2017-06-30 | 2017-03-31 | 2016-12-31 | 2016-09-30 | 2016-06-30 | 2016-03-31 | 2015-12-31 | 2015-09-30 | 2015-06-30 | 2015-03-31 | 2014-12-31 | 2014-09-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
cash flows from operating activities: | ||||||||||||||||||||||||||||||||||||||||||||||
net income | 955,800,000 | 853,000,000 | 888,800,000 | 813,800,000 | 800,996,000 | 747,938,000 | 665,428,000 | 637,692,000 | 613,636,000 | 545,327,000 | 491,885,000 | 436,473,000 | 427,089,000 | 353,999,000 | 299,099,000 | 272,259,000 | 239,295,000 | 224,305,000 | 196,888,000 | 180,366,000 | 182,958,000 | 168,375,000 | 144,793,000 | 138,431,000 | 260,692,000 | 208,895,000 | 189,251,000 | 201,029,000 | 170,322,000 | 168,524,000 | -155,269,000 | 144,538,000 | 103,833,000 | 133,722,000 | 102,685,000 | 82,961,000 | 58,783,000 | 51,257,000 | 38,904,000 | 35,245,000 | 43,924,000 | 28,690,000 | 23,996,000 | 24,492,000 | 31,037,000 | 21,866,000 |
adjustments to reconcile net income to net cash from operating activities: | ||||||||||||||||||||||||||||||||||||||||||||||
depreciation and amortization | 22,800,000 | 23,200,000 | 12,800,000 | 13,800,000 | 15,388,000 | 5,285,000 | 5,322,000 | 5,094,000 | 4,939,000 | 4,942,000 | 5,145,000 | 4,883,000 | 4,779,000 | 3,947,000 | 3,478,000 | 3,353,000 | 2,893,000 | 2,655,000 | 2,653,000 | |||||||||||||||||||||||||||
stock-based compensation | 133,100,000 | 127,900,000 | 85,200,000 | 93,000,000 | 100,734,000 | 98,123,000 | 79,292,000 | 77,215,000 | 81,358,000 | 85,390,000 | 67,127,000 | 62,881,000 | 64,954,000 | 65,477,000 | 50,224,000 | 50,279,000 | 51,243,000 | 53,135,000 | 44,944,000 | 37,553,000 | 40,095,000 | 36,469,000 | 32,922,000 | 27,556,000 | 26,435,000 | 26,257,000 | 24,297,000 | 24,291,000 | 24,619,000 | 23,254,000 | 22,478,000 | 20,851,000 | 20,436,000 | 20,152,000 | 18,400,000 | 16,439,000 | 16,324,000 | 15,116,000 | 14,232,000 | 13,360,000 | 12,978,000 | 12,278,000 | 11,208,000 | 8,839,000 | 8,050,000 | 8,082,000 |
deferred income taxes | -109,500,000 | 135,400,000 | -230,800,000 | -107,100,000 | -116,148,000 | -148,266,000 | -150,638,000 | -77,822,000 | -153,307,000 | -87,202,000 | -59,134,000 | -71,153,000 | -96,027,000 | -42,418,000 | -24,115,000 | -81,822,000 | -98,717,000 | 2,425,000 | -4,423,000 | 1,425,000 | -12,405,000 | 593,000 | 2,211,000 | 457,000 | -86,686,000 | 3,031,000 | 8,632,000 | -718,000 | -8,281,000 | -31,334,000 | -14,740,000 | -3,541,000 | 31,169,000 | -14,228,000 | -11,036,000 | 2,521,000 | -8,000,000 | -6,844,000 | -5,279,000 | -1,597,000 | -8,926,000 | -13,217,000 | -3,936,000 | 1,670,000 | -5,992,000 | -1,485,000 |
other | -3,600,000 | -2,500,000 | -8,900,000 | -12,100,000 | 5,018,000 | 487,000 | ||||||||||||||||||||||||||||||||||||||||
changes in operating assets and liabilities: | ||||||||||||||||||||||||||||||||||||||||||||||
accounts receivable | -397,500,000 | 134,200,000 | -187,700,000 | -295,400,000 | -9,581,000 | 105,727,000 | -136,754,000 | -65,472,000 | -191,195,000 | -53,648,000 | 83,149,000 | 60,221,000 | -271,584,000 | -65,612,000 | 67,526,000 | -131,861,000 | -120,919,000 | -31,376,000 | 16,252,000 | 9,074,000 | -87,598,000 | 83,008,000 | -31,066,000 | 46,329,000 | 55,265,000 | -104,172,000 | -71,834,000 | 60,531,000 | -9,724,000 | -54,621,000 | -53,578,000 | 40,007,000 | -34,735,000 | 57,013,000 | -60,562,000 | 44,057,000 | -42,876,000 | -63,584,000 | -11,540,000 | 9,144,000 | 16,617,000 | -38,057,000 | -9,565,000 | -16,276,000 | -13,187,000 | -16,335,000 |
inventories | -91,400,000 | -96,600,000 | -101,800,000 | -122,700,000 | -64,610,000 | 83,814,000 | 171,428,000 | -80,024,000 | -51,642,000 | -29,204,000 | -181,631,000 | -392,997,000 | -189,156,000 | -247,740,000 | -158,521,000 | -43,531,000 | -74,452,000 | -32,466,000 | -60,031,000 | -3,500,000 | -41,322,000 | -111,105,000 | -65,200,000 | -17,691,000 | -4,024,000 | 74,571,000 | 32,976,000 | -82,596,000 | -47,230,000 | 37,525,000 | 22,692,000 | 38,067,000 | 26,959,000 | 30,646,000 | -77,017,000 | -50,296,000 | -74,363,000 | -43,997,000 | -34,100,000 | 8,099,000 | 17,792,000 | -9,618,000 | -11,591,000 | -10,706,000 | -17,932,000 | 2,216,000 |
other assets | -253,700,000 | -280,500,000 | -289,500,000 | -113,700,000 | -61,123,000 | -80,542,000 | -130,659,000 | 38,082,000 | 52,221,000 | 2,242,000 | -147,225,000 | 26,361,000 | -14,400,000 | -12,356,000 | -4,903,000 | -640,000 | -1,305,000 | 475,000 | 109,000 | -3,499,000 | -2,885,000 | 2,490,000 | 1,414,000 | 3,946,000 | -1,103,000 | -2,374,000 | -5,849,000 | 1,214,000 | -2,622,000 | -1,396,000 | 2,656,000 | -2,027,000 | 2,467,000 | -1,090,000 | -539,000 | 69,000 | -342,000 | 1,342,000 | 1,333,000 | 533,000 | 5,000 | 165,000 | 245,000 | -3,502,000 | -2,119,000 | |
accounts payable | 162,400,000 | -61,900,000 | 153,300,000 | 6,700,000 | 90,370,000 | -5,769,000 | 70,998,000 | -207,234,000 | 164,872,000 | -81,165,000 | 20,341,000 | 94,564,000 | -42,044,000 | 2,311,000 | 68,691,000 | 2,478,000 | 67,756,000 | -11,954,000 | 8,046,000 | 2,833,000 | -30,642,000 | 40,330,000 | 37,859,000 | -6,386,000 | 12,424,000 | -7,578,000 | -4,392,000 | -2,391,000 | 8,822,000 | 26,918,000 | -16,443,000 | 20,040,000 | 15,971,000 | -47,374,000 | 19,947,000 | -18,648,000 | 3,168,000 | 17,009,000 | 34,624,000 | -16,123,000 | 9,182,000 | -11,967,000 | 13,758,000 | -1,936,000 | 8,407,000 | 811,000 |
other liabilities | 99,800,000 | 69,300,000 | 123,600,000 | -173,300,000 | 43,395,000 | 5,291,000 | -6,434,000 | 5,571,000 | 134,662,000 | 708,000 | -7,315,000 | -4,361,000 | 5,177,000 | -1,280,000 | 2,925,000 | -2,704,000 | 10,483,000 | -270,000 | -889,000 | -14,661,000 | 18,553,000 | -2,097,000 | 4,068,000 | -3,422,000 | 7,326,000 | -3,360,000 | 3,295,000 | 660,000 | 7,481,000 | 11,211,000 | -6,802,000 | 5,565,000 | 628,000 | -2,746,000 | 6,068,000 | -2,475,000 | 6,266,000 | 849,000 | 1,315,000 | 464,000 | -809,000 | 2,094,000 | 308,000 | -422,000 | 940,000 | -1,451,000 |
deferred revenue | 686,300,000 | 624,300,000 | 844,000,000 | 297,400,000 | 284,084,000 | 388,545,000 | 455,544,000 | 157,038,000 | 311,453,000 | 109,847,000 | -7,370,000 | 51,028,000 | 100,202,000 | -92,446,000 | -95,993,000 | 187,194,000 | 128,872,000 | 54,350,000 | 26,059,000 | 69,204,000 | 84,801,000 | -15,207,000 | -19,263,000 | 21,000 | 46,277,000 | 26,793,000 | -34,253,000 | -50,756,000 | 57,372,000 | 63,257,000 | -7,410,000 | -42,686,000 | -49,883,000 | 10,635,000 | 57,339,000 | 124,236,000 | 88,099,000 | 54,511,000 | 11,104,000 | 22,412,000 | 6,102,000 | 26,263,000 | 31,619,000 | 26,356,000 | 28,777,000 | 16,008,000 |
income taxes | 57,400,000 | -257,600,000 | -88,900,000 | 241,300,000 | -126,266,000 | -14,304,000 | -83,470,000 | 157,537,000 | -326,002,000 | 148,070,000 | 89,900,000 | 108,200,000 | ||||||||||||||||||||||||||||||||||
net cash from operating activities | 1,261,900,000 | 1,268,200,000 | 1,200,100,000 | 641,700,000 | 1,030,963,000 | 1,174,456,000 | 989,011,000 | 513,805,000 | 526,464,000 | 698,977,000 | 434,090,000 | 374,483,000 | 40,473,000 | 134,105,000 | 101,097,000 | 217,138,000 | 225,236,000 | 272,579,000 | 263,366,000 | 254,675,000 | 186,924,000 | 215,127,000 | 138,216,000 | 194,847,000 | 327,161,000 | 269,397,000 | 196,379,000 | 170,097,000 | 295,819,000 | -118,825,000 | 130,584,000 | 195,541,000 | 183,664,000 | 205,868,000 | 79,233,000 | 162,862,000 | 52,755,000 | -47,344,000 | 54,913,000 | 71,116,000 | 116,511,000 | 10,649,000 | 52,606,000 | 20,767,000 | 15,812,000 | 34,758,000 |
capital expenditures | 0 | -30,100,000 | -24,000,000 | -28,400,000 | 0 | -7,025,000 | -3,160,000 | -9,395,000 | 0 | -11,212,000 | -11,581,000 | -5,631,000 | 0 | -10,440,000 | -8,868,000 | -14,876,000 | 0 | -45,888,000 | -4,471,000 | -5,096,000 | 0 | -2,523,000 | -2,071,000 | -3,107,000 | -2,432,000 | -4,680,000 | -3,402,000 | -5,237,000 | -6,217,000 | -4,542,000 | -6,735,000 | -6,336,000 | -3,120,000 | -2,625,000 | -4,889,000 | -4,645,000 | -5,632,000 | -3,745,000 | -4,080,000 | -7,962,000 | -6,015,000 | -5,206,000 | -3,632,000 | -5,136,000 | -2,345,000 | -2,210,000 |
free cash flows | 1,261,900,000 | 1,238,100,000 | 1,176,100,000 | 613,300,000 | 1,030,963,000 | 1,167,431,000 | 985,851,000 | 504,410,000 | 526,464,000 | 687,765,000 | 422,509,000 | 368,852,000 | 40,473,000 | 123,665,000 | 92,229,000 | 202,262,000 | 225,236,000 | 226,691,000 | 258,895,000 | 249,579,000 | 186,924,000 | 212,604,000 | 136,145,000 | 191,740,000 | 324,729,000 | 264,717,000 | 192,977,000 | 164,860,000 | 289,602,000 | -123,367,000 | 123,849,000 | 189,205,000 | 180,544,000 | 203,243,000 | 74,344,000 | 158,217,000 | 47,123,000 | -51,089,000 | 50,833,000 | 63,154,000 | 110,496,000 | 5,443,000 | 48,974,000 | 15,631,000 | 13,467,000 | 32,548,000 |
cash flows from investing activities: | ||||||||||||||||||||||||||||||||||||||||||||||
proceeds from maturities of marketable securities | 842,200,000 | 939,100,000 | 852,000,000 | 799,200,000 | 631,240,000 | 474,776,000 | 362,136,000 | 590,436,000 | 322,989,000 | 299,645,000 | 441,284,000 | 824,021,000 | 366,003,000 | 448,107,000 | 425,538,000 | 404,176,000 | 296,742,000 | 338,916,000 | 440,202,000 | 379,605,000 | 362,088,000 | 308,388,000 | 460,710,000 | 414,503,000 | 402,198,000 | 254,007,000 | 250,248,000 | 302,264,000 | 180,798,000 | 144,235,000 | 132,316,000 | 90,448,000 | ||||||||||||||
proceeds from sale of marketable securities | 102,900,000 | 25,500,000 | 7,100,000 | 8,800,000 | 0 | 36,750,000 | 17,700,000 | 27,859,000 | 0 | 21,725,000 | 7,000,000 | 21,036,000 | 0 | 0 | ||||||||||||||||||||||||||||||||
purchases of marketable securities | -1,932,100,000 | -2,110,600,000 | -1,160,200,000 | -1,545,500,000 | -1,932,709,000 | -844,110,000 | -836,867,000 | -912,441,000 | -672,722,000 | -542,136,000 | -530,408,000 | -861,612,000 | -445,368,000 | -331,510,000 | -229,365,000 | -412,614,000 | -342,411,000 | -733,196,000 | -651,181,000 | -590,476,000 | -471,628,000 | -979,959,000 | -561,828,000 | -674,649,000 | -663,795,000 | -290,715,000 | -217,136,000 | -332,247,000 | -347,061,000 | -130,533,000 | -428,689,000 | -267,976,000 | -259,959,000 | -211,219,000 | -52,684,000 | -61,511,000 | -97,227,000 | -49,546,000 | -241,300,000 | -51,638,000 | ||||||
purchases of property, equipment and intangible assets | ||||||||||||||||||||||||||||||||||||||||||||||
cash paid for business combination, net of cash acquired | ||||||||||||||||||||||||||||||||||||||||||||||
net cash from investing activities | -999,100,000 | -1,186,100,000 | -625,100,000 | -765,900,000 | -1,309,941,000 | -373,872,000 | -477,891,000 | -295,650,000 | -336,957,000 | -225,844,000 | -102,906,000 | -21,747,000 | -82,825,000 | 126,193,000 | 245,574,000 | -72,615,000 | -64,199,000 | -425,281,000 | -218,133,000 | -217,949,000 | -278,326,000 | 102,283,000 | -103,281,000 | -329,478,000 | -264,029,000 | -14,533,000 | 29,710,000 | -35,220,000 | -171,661,000 | -86,480,000 | -313,108,000 | -183,864,000 | -192,233,000 | -187,417,000 | -10,010,000 | -2,920,000 | -6,428,000 | -11,374,000 | -247,907,000 | -60,270,000 | 144,726,000 | 48,917,000 | -3,670,000 | -5,803,000 | -223,162,000 | -21,661,000 |
cash flows from financing activities: | ||||||||||||||||||||||||||||||||||||||||||||||
proceeds from issuance of common stock under equity plans | 800,000 | 25,600,000 | 3,200,000 | 28,100,000 | 4,680,000 | 20,984,000 | 9,373,000 | 25,144,000 | 8,296,000 | 23,387,000 | 7,314,000 | 23,096,000 | 5,338,000 | 20,082,000 | 3,831,000 | 19,160,000 | 11,091,000 | 29,270,000 | 8,803,000 | 18,081,000 | 14,852,000 | 20,476,000 | 5,146,000 | 17,082,000 | 5,201,000 | 14,073,000 | 11,781,000 | 26,323,000 | 4,016,000 | 20,832,000 | 11,510,000 | 17,300,000 | 15,241,000 | 13,765,000 | 8,624,000 | 19,481,000 | ||||||||||
tax withholding paid on behalf of employees for net share settlement | -6,200,000 | -5,000,000 | -4,500,000 | -34,800,000 | -10,920,000 | -11,453,000 | -10,458,000 | -25,541,000 | -9,624,000 | -8,173,000 | -6,542,000 | -9,224,000 | -6,061,000 | -12,741,000 | -5,860,000 | -4,269,000 | -3,857,000 | -2,496,000 | -2,790,000 | -1,932,000 | -2,260,000 | -1,740,000 | -2,131,000 | -2,407,000 | -2,812,000 | -1,850,000 | -1,964,000 | -2,451,000 | -2,927,000 | -1,536,000 | ||||||||||||||||
repurchase of common stock | -483,660,000 | -136,228,000 | -176,133,000 | -134,157,000 | 0 | -101,355,000 | 0 | -167,278,000 | 0 | -227,895,000 | -51,525,000 | -114,609,000 | ||||||||||||||||||||||||||||||||||
net cash from financing activities | -625,500,000 | 20,600,000 | -197,200,000 | -793,800,000 | -130,036,000 | -55,626,000 | -173,098,000 | -63,050,000 | -1,328,000 | 15,214,000 | -29,232,000 | -68,403,000 | -4,662,000 | -34,240,000 | -485,890,000 | -129,809,000 | -170,902,000 | -109,156,000 | 4,946,000 | -85,770,000 | -212,553,000 | -48,455,000 | -102,943,000 | -91,039,000 | 24,473,000 | 1,515,000 | 17,910,000 | 8,118,000 | 15,308,000 | 13,226,000 | 12,267,000 | 7,458,000 | 18,518,000 | 21,446,000 | 28,215,000 | 13,491,000 | 12,448,000 | 7,835,000 | 16,223,000 | 18,816,000 | 20,231,000 | 38,829,000 | -1,556,000 | |||
effect of exchange rate changes | 0 | -1,600,000 | 2,600,000 | 700,000 | -3,756,000 | 1,681,000 | -1,084,000 | -1,608,000 | 1,609,000 | -1,363,000 | 115,000 | 314,000 | 2,479,000 | -3,049,000 | -2,560,000 | -481,000 | -303,000 | -848,000 | 173,000 | -838,000 | 2,212,000 | 1,417,000 | 1,028,000 | -2,691,000 | 1,347,000 | -1,066,000 | -123,000 | 195,000 | -406,000 | -377,000 | -593,000 | -14,000 | 56,000 | 286,000 | 227,000 | 184,000 | -331,000 | -74,000 | -102,000 | 43,000 | 20,000 | -40,000 | -44,000 | -143,000 | ||
net increase in cash, cash equivalents and restricted cash | -362,700,000 | 101,100,000 | 380,400,000 | -917,300,000 | -412,770,000 | 746,639,000 | 336,938,000 | 153,497,000 | 189,788,000 | 486,984,000 | 302,067,000 | 284,647,000 | -44,535,000 | 223,009,000 | -141,779,000 | 14,233,000 | -77,128,000 | 170,093,000 | 38,849,000 | -349,875,000 | 150,855,000 | 134,927,000 | 159,545,000 | 26,971,000 | ||||||||||||||||||||||
cash, cash equivalents and restricted cash —beginning of period | 0 | 0 | 0 | 2,763,800,000 | 0 | 0 | 0 | 1,939,464,000 | 0 | 0 | 0 | 675,978,000 | 0 | 0 | 0 | 625,050,000 | 0 | 0 | 0 | 897,454,000 | 0 | 0 | 0 | 1,115,515,000 | 0 | 0 | 0 | 654,164,000 | 0 | 0 | 0 | 864,697,000 | ||||||||||||||
cash, cash equivalents and restricted cash —end of period | -362,700,000 | 101,100,000 | 380,400,000 | 1,846,500,000 | -412,770,000 | 746,639,000 | 336,938,000 | 2,092,961,000 | 189,788,000 | 486,984,000 | 302,067,000 | 960,625,000 | -44,535,000 | 223,009,000 | -141,779,000 | 639,283,000 | -10,168,000 | -262,706,000 | 50,352,000 | 847,572,000 | -77,128,000 | 170,093,000 | 38,849,000 | 765,640,000 | 16,024,000 | 150,855,000 | 134,927,000 | 813,709,000 | 125,267,000 | -187,772,000 | -174,999,000 | 891,668,000 | ||||||||||||||
supplemental disclosures of cash flow information: | ||||||||||||||||||||||||||||||||||||||||||||||
cash paid for income taxes, net of refunds | 15,842,000 | 17,987,000 | 597,000 | |||||||||||||||||||||||||||||||||||||||||||
purchases of property and equipment | -30,100,000 | -24,000,000 | -28,400,000 | -7,025,000 | -3,160,000 | -9,395,000 | -11,212,000 | -11,581,000 | -5,631,000 | -10,440,000 | -8,868,000 | -14,876,000 | -45,888,000 | -4,471,000 | -5,096,000 | -2,523,000 | -2,071,000 | -3,107,000 | -2,432,000 | -4,680,000 | -3,402,000 | -5,237,000 | -6,217,000 | -4,542,000 | -6,735,000 | -6,336,000 | -3,120,000 | -2,625,000 | -4,889,000 | -4,645,000 | -5,632,000 | -3,745,000 | -4,080,000 | -7,962,000 | -6,015,000 | -5,206,000 | -3,632,000 | -5,136,000 | -2,345,000 | -2,210,000 | ||||||
cash paid for business combinations, net of cash acquired | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||||
repurchases of common stock | 0 | -195,900,000 | -787,100,000 | -65,157,000 | -172,013,000 | -62,653,000 | 0 | -30,004,000 | -82,275,000 | |||||||||||||||||||||||||||||||||||||
amortization of investment premiums | -15,859,000 | -16,766,000 | -15,425,000 | -12,418,000 | -11,129,000 | -10,391,000 | -7,778,000 | -4,220,000 | -1,400,000 | 2,710,000 | 4,424,000 | 7,033,000 | 7,654,000 | 7,072,000 | 6,675,000 | 5,446,000 | 4,351,000 | 3,092,000 | 1,896,000 | 1,042,000 | 346,000 | 353,000 | 423,000 | 330,000 | 499,000 | 609,000 | 139,000 | 449,000 | ||||||||||||||||||
other investing activities | 0 | 0 | 0 | -667,000 | -18,798,000 | |||||||||||||||||||||||||||||||||||||||||
accrued liabilities | 2,498,000 | 49,491,000 | -136,554,000 | 47,063,000 | 11,763,000 | 58,655,000 | 51,896,000 | 30,900,000 | 13,456,000 | -29,666,000 | 52,208,000 | 11,291,000 | 40,784,000 | -20,759,000 | 32,539,000 | 10,071,000 | -432,000 | -39,450,000 | 10,635,000 | 15,207,000 | 9,538,000 | -19,014,000 | 21,131,000 | 11,236,000 | 987,000 | -48,140,000 | 39,360,000 | 10,156,000 | 9,162,000 | -15,143,000 | 14,716,000 | 21,109,000 | 9,672,000 | -14,868,000 | 2,296,000 | 15,020,000 | 15,440,000 | -12,358,000 | 11,141,000 | 7,107,000 | ||||||
proceeds from sales of marketable securities | ||||||||||||||||||||||||||||||||||||||||||||||
depreciation, amortization and other | 15,498,000 | 15,614,000 | 14,397,000 | 17,006,000 | 18,322,000 | 20,905,000 | 17,531,000 | 17,157,000 | 14,921,000 | 13,091,000 | 12,470,000 | 12,629,000 | 12,577,000 | 12,658,000 | 12,615,000 | 10,805,000 | 10,962,000 | 10,208,000 | 7,901,000 | 8,191,000 | 8,395,000 | 8,362,000 | 9,231,000 | 7,112,000 | 5,631,000 | 5,697,000 | ||||||||||||||||||||
noncash lease expense | 4,712,000 | 4,580,000 | 4,621,000 | 4,461,000 | 4,521,000 | 4,633,000 | 4,811,000 | 4,676,000 | 4,629,000 | 4,532,000 | 4,374,000 | 4,328,000 | 4,167,000 | 4,243,000 | 4,364,000 | 4,383,000 | 4,150,000 | 4,073,000 | 4,172,000 | 4,052,000 | ||||||||||||||||||||||||||
gain on strategic investments | 0 | |||||||||||||||||||||||||||||||||||||||||||||
investments in notes and privately-held companies | 0 | -1,000,000 | ||||||||||||||||||||||||||||||||||||||||||||
supplemental disclosures of non-cash investing and financing information: | ||||||||||||||||||||||||||||||||||||||||||||||
right-of-use assets obtained in exchange for lease obligations | 2,116,000 | 1,781,000 | 15,229,000 | |||||||||||||||||||||||||||||||||||||||||||
property and equipment included in accounts payable and accrued liabilities | 3,645,000 | 746,000 | -1,688,000 | 727,000 | 4,926,000 | -4,293,000 | 1,184,000 | 1,761,000 | 2,759,000 | -352,000 | 2,117,000 | 203,000 | 1,529,000 | 1,109,000 | -332,000 | 264,000 | 524,000 | 321,000 | 1,055,000 | -1,349,000 | 2,426,000 | 3,343,000 | -204,000 | -299,000 | 971,000 | -95,000 | 450,000 | 958,000 | ||||||||||||||||||
common stock issued for business acquisition | 0 | 0 | 0 | 0 | 0 | 4,049,000 | ||||||||||||||||||||||||||||||||||||||||
loss on strategic investments | ||||||||||||||||||||||||||||||||||||||||||||||
investment in notes and privately-held companies | 1,086,000 | 0 | ||||||||||||||||||||||||||||||||||||||||||||
right-of-use assets obtained in exchange for new operating lease liabilities | 0 | 1,278,000 | 0 | 6,022,000 | 181,000 | 3,205,000 | 1,596,000 | 96,000 | 9,034,000 | |||||||||||||||||||||||||||||||||||||
unrealized gain on equity investments | -3,358,000 | -708,000 | 5,084,000 | -28,497,000 | ||||||||||||||||||||||||||||||||||||||||||
unrealized loss on equity investments | 5,571,000 | |||||||||||||||||||||||||||||||||||||||||||||
prepaid expenses and other current assets | -82,278,000 | -16,170,000 | 89,153,000 | -50,150,000 | -107,999,000 | -63,514,000 | -26,944,000 | -29,084,000 | -15,272,000 | -24,808,000 | 11,839,000 | 1,064,000 | 25,751,000 | -5,129,000 | 10,524,000 | 18,200,000 | 30,664,000 | 71,918,000 | 21,911,000 | -86,140,000 | 13,722,000 | 9,328,000 | 1,266,000 | 6,812,000 | -29,051,000 | -17,024,000 | -95,212,000 | -11,716,000 | 8,878,000 | 11,525,000 | 1,395,000 | -23,360,000 | 2,613,000 | -23,861,000 | -3,134,000 | |||||||||||
business acquisitions, net of cash acquired | 0 | -107,477,000 | -37,610,000 | 0 | -92,000 | -66,225,000 | 0 | -1,181,000 | ||||||||||||||||||||||||||||||||||||||
investments and notes receivable in privately-held companies | -250,000 | 0 | ||||||||||||||||||||||||||||||||||||||||||||
business acquisition, net of cash acquired | ||||||||||||||||||||||||||||||||||||||||||||||
escrow receipts from past business acquisitions | 0 | -120,000 | 1,401,000 | 18,000 | ||||||||||||||||||||||||||||||||||||||||||
vesting of early exercised stock options and restricted stock awards | ||||||||||||||||||||||||||||||||||||||||||||||
income taxes payable | 30,282,000 | -96,200,000 | 106,992,000 | 9,788,000 | 5,579,000 | 1,292,000 | -10,436,000 | 10,472,000 | -18,487,000 | 12,838,000 | 3,982,000 | -6,285,000 | 15,409,000 | 12,359,000 | 2,040,000 | -10,423,000 | 3,658,000 | 3,175,000 | 3,478,000 | 12,500,000 | 2,041,000 | 2,457,000 | 2,923,000 | 15,375,000 | 9,422,000 | 11,051,000 | 6,802,000 | 7,259,000 | 2,913,000 | 12,861,000 | 8,985,000 | 3,876,000 | 129,000 | |||||||||||||
tax withholdings paid on behalf of employees for net share settlement | ||||||||||||||||||||||||||||||||||||||||||||||
investments in privately-held companies and intangibles | ||||||||||||||||||||||||||||||||||||||||||||||
purchases of investments in privately-held companies | -11,691,000 | -2,000,000 | ||||||||||||||||||||||||||||||||||||||||||||
loss on investments in privately-held companies | 0 | -4,277,000 | ||||||||||||||||||||||||||||||||||||||||||||
loss on sale of marketable securities | ||||||||||||||||||||||||||||||||||||||||||||||
business combinations, net of cash acquired | ||||||||||||||||||||||||||||||||||||||||||||||
right-of-use assets recognized upon the adoption of asc 842 | 0 | 93,207,000 | ||||||||||||||||||||||||||||||||||||||||||||
gain on sale of marketable securities | 0 | |||||||||||||||||||||||||||||||||||||||||||||
sale of investments in privately-held companies and intangible assets | ||||||||||||||||||||||||||||||||||||||||||||||
net decrease in cash, cash equivalents and restricted cash | -49,882,000 | |||||||||||||||||||||||||||||||||||||||||||||
investment in privately-held companies and intangibles | ||||||||||||||||||||||||||||||||||||||||||||||
investments in privately-held companies | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||||
principal payments of lease financing obligations | -537,000 | -471,000 | -465,000 | -456,000 | -447,000 | -397,000 | -390,000 | -383,000 | -376,000 | -326,000 | -320,000 | -314,000 | -308,000 | -264,000 | -259,000 | -255,000 | -239,000 | -219,000 | ||||||||||||||||||||||||||||
cash paid for interest — lease financing obligation | ||||||||||||||||||||||||||||||||||||||||||||||
common stock issued for business combinations | ||||||||||||||||||||||||||||||||||||||||||||||
___________________________________________________ | ||||||||||||||||||||||||||||||||||||||||||||||
gain on investments in privately-held companies | ||||||||||||||||||||||||||||||||||||||||||||||
proceeds from investments in privately-held companies | ||||||||||||||||||||||||||||||||||||||||||||||
net cash provided used in financing activities | -148,734,000 | |||||||||||||||||||||||||||||||||||||||||||||
see note 4 of the accompanying notes for a reconciliation of the ending balance of cash, cash equivalents and restricted cash as shown in these condensed consolidated statements of cash flows. | ||||||||||||||||||||||||||||||||||||||||||||||
see note 4 of the accompanying notes for a reconciliation of the ending balance of cash, cash equivalents and restricted cash as shown in this condensed consolidated statements of cash flows. | ||||||||||||||||||||||||||||||||||||||||||||||
net increase/(decrease) in cash, cash equivalents and restricted cash | 125,267,000 | -187,772,000 | ||||||||||||||||||||||||||||||||||||||||||||
net cash from investing activities for the year ended december 31 of 2017 was adjusted as a result of our adoption of asu 2016-18, statement of cash flows (topic 230): restricted cash, in the first quarter of 2018. see note 1 of the accompanying notes for details of the adjustments. see note 4 of the accompanying notes for a reconciliation of the ending balance of cash, cash equivalents and restricted cash as shown in this consolidated statements of cash flows. see note 1 of the accompanying notes. | ||||||||||||||||||||||||||||||||||||||||||||||
accretion of investment discounts | -1,772,000 | -2,191,000 | -2,069,000 | |||||||||||||||||||||||||||||||||||||||||||
proceeds from (purchases of) investments in privately-held companies | ||||||||||||||||||||||||||||||||||||||||||||||
accrued legal settlement | ||||||||||||||||||||||||||||||||||||||||||||||
see note 4 of the accompanying notes for a reconciliation of the ending balance of cash, cash equivalents and restricted cash as shown in this condensed consolidated statements of cash flows. see note 1 of the accompanying notes. | ||||||||||||||||||||||||||||||||||||||||||||||
gain on investment in privately-held companies | -1,150,000 | |||||||||||||||||||||||||||||||||||||||||||||
amortization | -1,497,000 | -1,080,000 | -753,000 | -30,000 | ||||||||||||||||||||||||||||||||||||||||||
proceeds from repayment of notes receivable | 0 | |||||||||||||||||||||||||||||||||||||||||||||
net cash from investing activities for the years ended december 31 of 2017 and 2016, respectively, was adjusted as a result of our adoption of asu 2016-18, statement of cash flows (topic 230): restricted cash, in the first quarter of 2018. see note 1 of the accompanying notes for details of the adjustments. see note 4 of the accompanying notes for a reconciliation of the ending balance of cash, cash equivalents and restricted cash as shown in this consolidated statements of cash flows. | ||||||||||||||||||||||||||||||||||||||||||||||
unrealized loss on investments in privately-held companies | 0 | |||||||||||||||||||||||||||||||||||||||||||||
supplemental disclosures of non-cash investing information: | ||||||||||||||||||||||||||||||||||||||||||||||
net cash from investing activities for the six months ended june 30, 2017 was adjusted as a result of our adoption of accounting standards update 2016-18, statement of cash flows (topic 230): restricted cash, in the first quarter of 2018. see note 1 of the accompanying notes for details of the adjustments. see note 3 of the accompanying notes for a reconciliation of the ending balance of cash, cash equivalents and restricted cash as shown in this condensed consolidated statements of cash flows. | ||||||||||||||||||||||||||||||||||||||||||||||
net cash from investing activities for the three months ended march 31, 2017 was adjusted as a result of our adoption of accounting standards update 2016-18, statement of cash flows (topic 230): restricted cash, in the first quarter of 2018. see note 1 of the accompanying notes for details of the adjustments. see note 3 of the accompanying notes for a reconciliation of the ending balance of cash, cash equivalents and restricted cash as shown in this statements of cash flows. | ||||||||||||||||||||||||||||||||||||||||||||||
investment in privately-held companies | 0 | |||||||||||||||||||||||||||||||||||||||||||||
change in restricted cash | -3,000 | -3,000 | -2,000 | -1,252,000 | -2,000 | 0 | 0 | |||||||||||||||||||||||||||||||||||||||
minimum tax withholding paid on behalf of employees for net share settlement | -1,568,000 | -1,101,000 | -776,000 | -580,000 | -289,000 | -212,000 | ||||||||||||||||||||||||||||||||||||||||
proceeds from initial public offering, net of issuance cost | -328,000 | -2,219,000 | ||||||||||||||||||||||||||||||||||||||||||||
net increase/(decrease) in cash and cash equivalents | ||||||||||||||||||||||||||||||||||||||||||||||
cash and cash equivalents—beginning of year | ||||||||||||||||||||||||||||||||||||||||||||||
cash and cash equivalents—end of year | ||||||||||||||||||||||||||||||||||||||||||||||
during our first fiscal quarter of 2017, we adopted accounting standards update 2016-09, "compensation-stock compensation (topic 718): improvements to employee share-based payment accounting." refer to note 1- recently adopted accounting pronouncements for further details. this adoption resulted in an increase in net cash from operating activities and a corresponding decrease in net cash from financing activities of 42.9 million and 37.3 million for the years ended december 31, 2016 and 2015, respectively. | ||||||||||||||||||||||||||||||||||||||||||||||
cash flows from operating activities | ||||||||||||||||||||||||||||||||||||||||||||||
cash flows from investing activities | ||||||||||||||||||||||||||||||||||||||||||||||
proceeds from marketable securities | 23,430,000 | 47,565,000 | 64,488,000 | |||||||||||||||||||||||||||||||||||||||||||
cash flows from financing activities | ||||||||||||||||||||||||||||||||||||||||||||||
net increase in cash and cash equivalents | 31,004,000 | 76,908,000 | 178,644,000 | -30,577,000 | -179,605,000 | 23,337,000 | 67,772,000 | 35,155,000 | -168,565,000 | 11,398,000 | ||||||||||||||||||||||||||||||||||||
cash and cash equivalents—beginning of period | 0 | 0 | 567,923,000 | 0 | 0 | 687,326,000 | 240,031,000 | 0 | 0 | |||||||||||||||||||||||||||||||||||||
cash and cash equivalents—end of period | 31,004,000 | 76,908,000 | 746,567,000 | -30,577,000 | -179,605,000 | 710,663,000 | 275,186,000 | -168,565,000 | 11,398,000 | |||||||||||||||||||||||||||||||||||||
supplemental disclosures of non-cash investing activities: | ||||||||||||||||||||||||||||||||||||||||||||||
excess tax benefit on stock based-compensation | -6,012,000 | -4,870,000 | -9,406,000 | -12,406,000 | -10,569,000 | -16,595,000 | -382,000 | |||||||||||||||||||||||||||||||||||||||
realized gain on notes receivable | ||||||||||||||||||||||||||||||||||||||||||||||
amortization of debt discount | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||||
write-off of debt discount on notes payable | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||||
interest payable | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||||
proceeds from issuance of common stock upon exercising options, net of repurchases | 9,299,000 | 9,239,000 | 4,455,000 | 1,862,000 | 3,273,000 | 2,571,000 | 6,669,000 | 5,322,000 | 22,801,000 | 500,000 | ||||||||||||||||||||||||||||||||||||
proceeds from issuance of common stock, employee stock purchase plan | ||||||||||||||||||||||||||||||||||||||||||||||
excess tax benefit on stock-based compensation | 72,898,000 | -14,076,000 | -21,979,000 | 6,012,000 | 4,870,000 | 9,406,000 | 12,406,000 | 10,569,000 | 16,595,000 | 382,000 | ||||||||||||||||||||||||||||||||||||
repayment on notes payable | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||||
proceeds from maturity of marketable securities | ||||||||||||||||||||||||||||||||||||||||||||||
purchases of intangible assets | 0 | -27,000 | -670,000 | -38,000 | ||||||||||||||||||||||||||||||||||||||||||
proceeds from issuance of common stock under employee stock purchase plan | 5,438,000 | 0 | 4,888,000 | 4,510,000 | 0 | 4,856,000 | ||||||||||||||||||||||||||||||||||||||||
issuance costs from initial public offering | ||||||||||||||||||||||||||||||||||||||||||||||
cash paid for interest—lease financing obligation | 727,000 | 732,000 | 737,000 | 757,000 | ||||||||||||||||||||||||||||||||||||||||||
interest payable—related party | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||||
benefit from bad debts | 169,000 | 280,000 | 201,000 | 267,000 | 219,000 | |||||||||||||||||||||||||||||||||||||||||
unrealized gain on notes receivable | 0 | |||||||||||||||||||||||||||||||||||||||||||||
investment in private companies | ||||||||||||||||||||||||||||||||||||||||||||||
payments—deferred offering costs | 0 | 0 | -261,000 | |||||||||||||||||||||||||||||||||||||||||||
cash paid for income taxes | 521,000 | |||||||||||||||||||||||||||||||||||||||||||||
deposits and other assets |