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SUPPLEMENTAL FINANCIAL INFORMATION
STOCK-BASED COMPENSATION EXPENSE (Unaudited, in thousands) | ||||||||||||||||
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Three Months Ended
June 30, |
Six Months Ended
June 30, | |||||||||||||||
| 2024 | 2023 | 2024 | 2023 | |||||||||||||
| Cost of revenue | $ | 1,611 | $ | 1,150 | $ | 3,009 | $ | 2,297 | ||||||||
| Research and development | 11,682 | 9,313 | 22,129 | 17,927 | ||||||||||||
| Selling, general and administrative | 39,013 | 27,529 | 73,094 | 54,777 | ||||||||||||
| Total stock-based compensation expense | $ | 52,306 | $ | 37,992 | $ | 98,232 | $ | 75,001 | ||||||||
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RECONCILIATION OF NET INCOME TO NON-GAAP NET INCOME
(Unaudited, in thousands, except per share amounts) | ||||||||||||||||
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Three Months Ended
June 30, |
Six Months Ended
June 30, | |||||||||||||||
| 2024 | 2023 | 2024 | 2023 | |||||||||||||
| Net income | $ | 100,366 | $ | 99,504 | $ | 192,907 | $ | 209,306 | ||||||||
| Adjustments to reconcile net income to non-GAAP net income: | ||||||||||||||||
| Stock-based compensation and related expenses* | 52,704 | 37,992 | 104,473 | 75,001 | ||||||||||||
| Amortization of acquisition-related intangible assets | 372 | 33 | 663 | 66 | ||||||||||||
| Deferred compensation plan expense, net | 106 | 260 | 153 | 511 | ||||||||||||
| Tax effect | 1,528 | (280 | ) | (5,628 | ) | (1,367 | ) | |||||||||
| Non-GAAP net income | $ | 155,076 | $ | 137,509 | $ | 292,568 | $ | 283,517 | ||||||||
| Non-GAAP net income per share: | ||||||||||||||||
| Basic | $ | 3.19 | $ | 2.90 | $ | 6.01 | $ | 5.99 | ||||||||
| Diluted | $ | 3.17 | $ | 2.82 | $ | 5.98 | $ | 5.82 | ||||||||
| Shares used in the calculation of non-GAAP net income per share: | ||||||||||||||||
| Basic | 48,687 | 47,489 | 48,660 | 47,361 | ||||||||||||
| Diluted | 48,945 | 48,756 | 48,935 | 48,705 | ||||||||||||
