Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares shares in Millions |
Sep. 30, 2025 |
Dec. 31, 2024 |
|---|---|---|
| Statement of Financial Position [Abstract] | ||
| Preferred stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 |
| Preferred stock, shares authorized (in shares) | 100.0 | 100.0 |
| Preferred stock, shares issued (in shares) | 0.0 | 0.0 |
| Preferred stock, shares outstanding (in shares) | 0.0 | 0.0 |
| Common stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 |
| Common stock, shares authorized (in shares) | 4,000.0 | 4,000.0 |
| Common stock, shares issued (in shares) | 1,259.2 | 1,261.3 |
| Common stock, shares outstanding (in shares) | 1,259.2 | 1,261.3 |
Condensed Consolidated Income Statements - USD ($) shares in Millions, $ in Millions |
3 Months Ended | 9 Months Ended | ||||
|---|---|---|---|---|---|---|
Sep. 30, 2025 |
Sep. 30, 2024 |
Sep. 30, 2025 |
Sep. 30, 2024 |
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| Revenue: | ||||||
| Total revenue | $ 2,308.3 | $ 1,810.9 | $ 6,517.9 | $ 5,072.7 | ||
| Cost of revenue: | ||||||
| Total cost of revenue | 818.1 | 649.2 | 2,313.0 | 1,812.4 | ||
| Gross profit | 1,490.2 | 1,161.7 | 4,204.9 | 3,260.3 | ||
| Operating expenses: | ||||||
| Research and development | 326.0 | 235.8 | 888.9 | 711.7 | ||
| Sales and marketing | 151.2 | 106.8 | 394.3 | 316.3 | ||
| General and administrative | 34.8 | 33.8 | 98.5 | 87.3 | ||
| Total operating expenses | 512.0 | 376.4 | 1,381.7 | 1,115.3 | ||
| Income from operations | 978.2 | 785.3 | 2,823.2 | 2,145.0 | ||
| Other income (expense), net | 98.9 | 97.6 | 289.1 | 231.1 | ||
| Income before income taxes | 1,077.1 | 882.9 | 3,112.3 | 2,376.1 | ||
| Provision for income taxes | 224.1 | 134.9 | 556.7 | 325.0 | ||
| Net income | $ 853.0 | $ 748.0 | $ 2,555.6 | $ 2,051.1 | ||
| Net income per share | ||||||
| Basic (in dollars per share) | [1] | $ 0.68 | $ 0.59 | $ 2.03 | $ 1.63 | |
| Diluted (in dollars per share) | [1] | $ 0.67 | $ 0.58 | $ 2.00 | $ 1.60 | |
| Weighted-average shares used in computing net income per share | ||||||
| Basic (in shares) | [1] | 1,258.0 | 1,257.9 | 1,258.1 | 1,255.0 | |
| Diluted (in shares) | [1] | 1,276.6 | 1,281.8 | 1,275.7 | 1,280.3 | |
| Product | ||||||
| Revenue: | ||||||
| Total revenue | $ 1,911.7 | $ 1,523.8 | $ 5,481.2 | $ 4,275.9 | ||
| Cost of revenue: | ||||||
| Total cost of revenue | 745.5 | 593.3 | 2,125.5 | 1,655.4 | ||
| Service | ||||||
| Revenue: | ||||||
| Total revenue | 396.6 | 287.1 | 1,036.7 | 796.8 | ||
| Cost of revenue: | ||||||
| Total cost of revenue | $ 72.6 | $ 55.9 | $ 187.5 | $ 157.0 | ||
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Condensed Consolidated Income Statements (Parenthetical) |
1 Months Ended | |
|---|---|---|
Nov. 07, 2024 |
Dec. 31, 2024 |
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| Income Statement [Abstract] | ||
| Stock split ratio | 4 | 4 |
Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Millions |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Sep. 30, 2025 |
Sep. 30, 2024 |
Sep. 30, 2025 |
Sep. 30, 2024 |
|
| Statement of Comprehensive Income [Abstract] | ||||
| Net income | $ 853.0 | $ 748.0 | $ 2,555.6 | $ 2,051.1 |
| Other comprehensive income (loss), net of tax: | ||||
| Change in foreign currency translation | (1.3) | 1.5 | 1.8 | (0.9) |
| Available-for-sale investments: | ||||
| Change in net unrealized gains (losses) on available-for-sale securities | 5.3 | 23.1 | 19.2 | 13.8 |
| Other comprehensive income (loss) | 4.0 | 24.6 | 21.0 | 12.9 |
| Comprehensive income | $ 857.0 | $ 772.6 | $ 2,576.6 | $ 2,064.0 |
Condensed Consolidated Statements of Stockholders' Equity (Parenthetical) |
1 Months Ended | |
|---|---|---|
Nov. 07, 2024 |
Dec. 31, 2024 |
|
| Statement of Stockholders' Equity [Abstract] | ||
| Stock split ratio | 4 | 4 |
Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions |
9 Months Ended | |
|---|---|---|
Sep. 30, 2025 |
Sep. 30, 2024 |
|
| CASH FLOWS FROM OPERATING ACTIVITIES: | ||
| Net income | $ 2,555.6 | $ 2,051.1 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation and amortization | 49.8 | 46.7 |
| Stock-based compensation | 306.1 | 254.6 |
| Deferred income taxes | (202.5) | (376.7) |
| Other | (23.5) | (42.7) |
| Changes in operating assets and liabilities: | ||
| Accounts receivable, net | (348.9) | (96.5) |
| Inventories | (321.1) | 175.2 |
| Other assets | (683.7) | (173.1) |
| Accounts payable | 98.1 | (142.0) |
| Deferred revenue | 1,765.7 | 1,001.1 |
| Income taxes, net | (105.2) | 59.8 |
| Other liabilities | 19.6 | (80.2) |
| Net cash provided by operating activities | 3,110.0 | 2,677.3 |
| CASH FLOWS FROM INVESTING ACTIVITIES: | ||
| Proceeds from maturities of marketable securities | 2,590.3 | 1,427.3 |
| Proceeds from sale of marketable securities | 41.4 | 44.9 |
| Purchases of marketable securities | (4,816.3) | (2,593.4) |
| Purchases of property and equipment | (82.5) | (19.6) |
| Cash paid for business combinations, net of cash acquired | (300.0) | 0.0 |
| Other | (10.0) | (6.6) |
| Net cash used in investing activities | (2,577.1) | (1,147.4) |
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||
| Proceeds from issuance of common stock under equity plans | 56.9 | 55.5 |
| Tax withholding paid on behalf of employees for net share settlement | (44.3) | (47.5) |
| Repurchases of common stock | (983.0) | (299.8) |
| Net cash used in financing activities | (970.4) | (291.8) |
| Effect of exchange rate changes | 1.7 | (1.1) |
| NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH | (435.8) | 1,237.0 |
| CASH, CASH EQUIVALENTS AND RESTRICTED CASH —Beginning of period | 2,763.8 | 1,939.5 |
| CASH, CASH EQUIVALENTS AND RESTRICTED CASH —End of period | $ 2,328.0 | $ 3,176.5 |
Organization and Summary of Significant Accounting Policies |
9 Months Ended |
|---|---|
Sep. 30, 2025 | |
| Accounting Policies [Abstract] | |
| Organization and Summary of Significant Accounting Policies | Organization and Summary of Significant Accounting Policies Organization Arista Networks, Inc. (together with our subsidiaries, “we,” “our,” "Arista," "Company" or “us”) is an industry leader in data-driven, client-to-cloud networking for large AI, data center, campus and routing environments. Our cloud networking solutions consist of our Extensible Operating System ("EOS®"), a set of network applications and our Ethernet switching and routing platforms. We are incorporated in the state of Delaware. Our corporate headquarters are located in Santa Clara, California, and we have wholly-owned subsidiaries throughout the world, including North America, Europe, Asia and Australia. Basis of Presentation and Principles of Consolidation The accompanying unaudited condensed consolidated financial statements include the accounts of Arista Networks, Inc. and our wholly-owned subsidiaries and have been prepared in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”) and the requirements of the U.S. Securities and Exchange Commission (the “SEC”) for interim reporting. As permitted under those rules, certain footnotes or other financial information that are normally required by GAAP can be condensed or omitted. In management’s opinion, the unaudited condensed consolidated financial statements have been prepared on the same basis as the audited consolidated financial statements and include all adjustments, which include only normal recurring adjustments, necessary for the fair presentation of our financial information. The results for the three and nine months ended September 30, 2025, are not necessarily indicative of the results expected for the full fiscal year. The condensed consolidated balance sheet as of December 31, 2024 has been derived from the audited consolidated financial statements at that date but does not include all of the information and notes required by GAAP for complete financial statements. All significant inter-company accounts and transactions have been eliminated. Certain reclassifications of prior period amounts were made in the current year to conform to the current period presentation. On November 7, 2024, the Company announced a four-for-one forward stock split ("Stock Split") of the Company’s common stock that was effected through the filing of an amendment to the Company's Amended and Restated Certificate of Incorporation ("Amendment") on December 3, 2024. The Stock Split proportionately increased the authorized shares of common stock, and all share and per share amounts presented herein have been retroactively adjusted to reflect the impact of the Stock Split. Our condensed consolidated financial statements and related financial information in this Quarterly Report on Form 10-Q should be read in conjunction with the audited consolidated financial statements and related footnotes included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2024, filed with the SEC on February 18, 2025. Use of Estimates The preparation of the accompanying consolidated financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the amounts reported and disclosed in the consolidated financial statements and accompanying notes. Those estimates and assumptions include, but are not limited to, valuation of inventory and contract manufacturer/supplier liabilities, accounting for income taxes, including the recognition of deferred tax assets and liabilities, valuation allowance on deferred tax assets and reserves for uncertain tax positions, revenue recognition and deferred revenue, valuation of goodwill and acquisition-related intangible assets, estimate of useful lives of long-lived assets including intangible assets, and the recognition and measurement of contingent liabilities. We evaluate our estimates and assumptions based on historical experience and other factors and adjust these estimates and assumptions when facts and circumstances dictate. Actual results could differ materially from these estimates. Recent Accounting Pronouncements Not Yet Effective In December 2023, the Financial Accounting Standards Board ("FASB") issued ASU 2023-09, Income Taxes (Topic 740)-Improvements to Income Tax Disclosures. The ASU requires that an entity disclose specific categories in the effective tax rate reconciliation as well as provide additional information for reconciling items that meet a quantitative threshold. Further, the ASU requires certain disclosures of state versus federal income tax expense and taxes paid. The amendments in this ASU are required to be adopted for fiscal years beginning after December 15, 2024. Early adoption is permitted for annual financial statements that have not yet been issued. The amendments should be applied on a prospective basis although retrospective application is permitted. We will adopt the standard in our 2025 annual period using a prospective transition method. In November 2024, the FASB issued ASU 2024-03, Disaggregation of Income Statement Expenses (Subtopic 220-40). The ASU requires the disaggregated disclosure of specific expense categories, including purchases of inventory, employee compensation, depreciation, and amortization, within relevant income statement captions. This ASU also requires disclosure of the total amount of selling expenses along with the definition of selling expenses. The ASU is effective for annual periods beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. Adoption of this ASU can either be applied prospectively to consolidated financial statements issued for reporting periods after the effective date of this ASU or retrospectively to any or all prior periods presented in the consolidated financial statements. Early adoption is also permitted. This ASU will likely result in the required additional disclosures being included in our consolidated financial statements, once adopted. We are currently evaluating the impact of future adoption on our financial statement disclosures. In July 2025, the FASB issued ASU 2025-05 Financial Instruments - Credit Losses (Topic 326) Measurement of Credit Losses for Accounts Receivable and Contract Assets, or ASU 2025-05. The ASU provides a practical expedient that allows entities to assume that current conditions as of the balance sheet date do not change for the remaining life of the asset when estimating expected credit losses for current accounts receivable and current contract assets. The amendments of ASU 2025-05 should be applied prospectively and are effective for annual and interim periods beginning after December 15, 2025, with early adoption permitted. We do not expect the adoption of ASU 2025-05 to have a material impact on our consolidated financial statements and related disclosures.
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Fair Value Measurements |
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| Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Fair Value Measurements | Fair Value Measurements Assets measured at fair values on a recurring basis We measure and report our cash equivalents, restricted cash, and available-for-sale marketable securities at fair value on a recurring basis. We use a fair value hierarchy to measure fair value, maximizing the use of observable inputs and minimizing the use of unobservable inputs. The two-tiers of the fair value hierarchy are as follows: Level I—Inputs are unadjusted, quoted prices in active markets for identical assets or liabilities at the measurement date and Level II—Inputs are observable, unadjusted quoted prices in active markets for similar assets or liabilities, unadjusted quoted prices for identical or similar assets or liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the related assets or liabilities. We don't have any level III financial assets measured at fair value on a recurring basis. The following tables summarize the fair value of these financial assets by significant investment category and their levels within the fair value hierarchy (in millions):
During the three and nine months ended September 30, 2025, the Company did not make any transfers between the levels of the fair value hierarchy. Debt securities The following table summarizes the amortized cost, unrealized gains and losses, and fair value of our debt securities measured at fair value on a recurring basis (in millions):
For debt securities in unrealized loss positions, it is not likely that we will be required to sell such securities before recovery of their amortized cost basis nor do we have the intent to sell such securities before maturity. We invest in debt securities that have maximum maturities of three years and are generally deemed to be low risk based on their credit ratings from the major rating agencies. The longer the duration of these debt securities, the more susceptible they are to changes in market interest rates and bond yields. Given the short-term and conservative nature of our portfolio, our debt securities are generally not subject to credit risk; therefore, we did not recognize any credit losses or non-credit-related impairments related to such securities for the three and nine months ended September 30, 2025. All unrealized losses were recognized in other comprehensive income (loss). Realized gains or losses were immaterial for the three and nine months ended September 30, 2025. The following table is an analysis of our debt securities in unrealized loss positions (in millions):
As of September 30, 2025, we had no marketable debt securities with contractual maturities that exceeded three years. The fair values of marketable debt securities, by remaining contractual maturities, are as follows (in millions):
The weighted-average remaining duration of our marketable debt securities is approximately 1.4 years as of September 30, 2025. As we view these marketable debt securities as available to support current operations, we classify marketable debt securities with maturities beyond 12 months as current assets under the caption "Marketable securities" on the condensed consolidated balance sheets.
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Financial Statements Details |
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| Balance Sheet Components [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Financial Statements Details | Financial Statements Details Inventories Inventories consist of the following (in millions):
(1) The balance includes evaluation inventory totaling $427.3 million and $422.1 million as of September 30, 2025 and December 31, 2024, respectively. Property and Equipment, net Property and equipment, net consists of the following (in millions):
Depreciation expense was $7.4 million and $8.5 million for the three months ended September 30, 2025 and 2024, respectively, and $23.2 million and $25.6 million for the nine months ended September 30, 2025 and 2024, respectively. Contract Liabilities, Deferred Revenue and Other Performance Obligations Contract Liabilities A contract liability is recognized when we have received customer payments in advance of our satisfaction of a performance obligation under a cancellable contract. The following table summarizes the activity related to our contract liabilities (in millions):
As of September 30, 2025 and December 31, 2024, $78.5 million and $65.7 million of our contract liabilities, respectively, were included in "Other current liabilities" with the remaining balances included in "Other long-term liabilities" on the condensed consolidated balance sheets. Deferred Revenue Deferred revenue is comprised mainly of unearned revenue related to multi-year post-contract support ("PCS") contracts and product deferrals related to contracts with acceptance clauses. The following table summarizes the activity related to our deferred revenue (in millions):
Other Performance Obligations Other performance obligations totaling $465.9 million as of September 30, 2025 include unbilled multi-year PCS and service contract amounts of $377.2 million, and $88.7 million of binding contractual agreements with certain customers that are primarily related to future product shipments. Revenue from Total Remaining Performance Obligations Total revenue from our contract liabilities, deferred revenue and other performance obligations that is expected to be recognized in future periods amounts to $5.3 billion as of September 30, 2025. Approximately 90% of this future revenue is expected to be recognized over the next two years and the remaining 10% is expected to be recognized during the third to the fifth year. Other Income (Expense), net Other income (expense), net consists of the following (in millions):
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Acquisition |
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| Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Acquisition | Acquisition On June 30, 2025, we completed the acquisition of the VeloCloud business ("VeloCloud") from Broadcom for total cash consideration of $300.0 million. VeloCloud's secure, AI-optimized cloud WAN portfolio provides seamless connectivity to customer sites of any type, complementing Arista's leading data center and campus wired/wireless portfolio. The preliminary purchase price allocation based on the estimated fair values of the assets acquired and liabilities assumed as of the acquisition date, included $268.4 million of intangible assets, $148.0 million of goodwill and $116.4 million of net tangible liabilities assumed as of June 30, 2025. A portion of the goodwill is deductible for tax purposes. The change in the carrying value of goodwill for the three months ended September 30, 2025 was not material. Acquisition-Related Intangible Assets Acquisition-related intangible assets, included in other assets, are subject to amortization on a straight-line basis over their estimated useful lives, as we believe this method most closely reflects the pattern in which the economic benefits of the assets will be consumed. Acquisition-related intangible assets, excluding those that are fully amortized and no longer have economic benefit, were as follows (in millions, except years):
Future estimated amortization expense related to acquisition-related intangible assets is as follows (in millions):
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Commitments and Contingencies |
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| Commitments and Contingencies Disclosure [Abstract] | |
| Commitments and Contingencies | Commitments and Contingencies Purchase Commitments We outsource most of our manufacturing and supply chain management operations to third-party contract manufacturers, who procure components and assemble products on our behalf. A significant portion of purchase orders to our contract manufacturers for finished products consist of non-cancellable purchase commitments. In addition, we purchase strategic component inventory from certain suppliers under non-cancellable purchase commitments, including integrated circuits, which are consigned to our contract manufacturers. As of September 30, 2025, we had non-cancellable purchase commitments not recorded on our balance sheet of $4.8 billion, of which $4.3 billion have expected receipt dates within 12 months, and $0.5 billion have expected receipt dates greater than 12 months. These open purchase orders are considered enforceable and legally binding, and while we may have some limited ability to reschedule, and adjust our requirements based on our business needs prior to the delivery of goods or performance of services, this can only occur with the agreement of the related supplier. We also had deposits to our contract manufacturers to secure our purchase commitments in the amount of $50.1 million and $95.8 million as of September 30, 2025 and December 31, 2024, respectively, which were recorded within prepaid expenses and other current assets, as well as other assets in the condensed consolidated balance sheets. Property Project During the year ended December 31, 2021, we purchased land and the improvements thereon in Santa Clara, California to construct a building for office, lab and data center space. As of September 30, 2025, the estimated remaining capital expenditures related to this project are expected to be approximately $170.0 million to $200.0 million through the end of fiscal 2026 when we expect construction to be completed. Guarantees We have entered into agreements with some of our direct customers and channel partners that contain indemnification provisions relating to potential situations where claims could be alleged that our products infringe the intellectual property rights of a third party. We have, at our option and expense, the ability to repair any infringement, replace product with a non-infringing equivalent-in-function product or refund our customers all or a portion of the value of the product. Other guarantees or indemnification agreements include guarantees of product and service performance and standby letters of credit for leased facilities and corporate credit cards. We have not recorded a liability related to these indemnification and guarantee provisions and our guarantee and indemnification arrangements have not had a significant impact on our consolidated financial statements to date. Legal Proceedings In the ordinary course of business, we are a party to various claims, litigation and other legal proceedings, including matters relating to intellectual property and patent disputes. We record a provision for contingent losses when it is both probable that a liability has been incurred and the amount of the loss can be reasonably estimated. As of September 30, 2025, provisions recorded for contingent losses related to other claims and matters have not been significant. Based on currently-available information, management does not believe that any additional liabilities relating to other unresolved matters are probable or that the amount of any resulting loss is estimable, and believes these other matters are not likely, individually and in the aggregate, to have a material adverse effect on our financial position, results of operations or cash flows; however, litigation is subject to inherent uncertainties and our view of these matters may change in the future. Were an unfavorable outcome to occur, there exists the possibility of a material adverse impact on our financial position, results of operations or cash flows for the period in which the unfavorable outcome occurs, and potentially in future periods.
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Stockholders’ Equity and Stock-Based Compensation |
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| Share-Based Payment Arrangement [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Stockholders’ Equity and Stock-Based Compensation | Stockholders’ Equity and Stock-Based Compensation Stock Repurchase Programs In May 2025 we completed repurchases under our previous $1.2 billion stock repurchase program (the "Prior Repurchase Program") and our board of directors authorized a new $1.5 billion stock repurchase program (the “New Repurchase Program”, and together with the Prior Repurchase Program, the "Repurchase Programs"). This authorization allows us to repurchase shares of our common stock that will be funded from working capital. Repurchases may be made at management's discretion from time to time on the open market, through privately negotiated transactions, transactions structured through investment banking institutions, block purchases, trading plans under Rule 10b5-1 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or a combination of the foregoing. The New Repurchase Program does not obligate us to acquire any of our common stock and may be suspended or discontinued by the Company at any time without prior notice. We did not repurchase any shares during the three months ended September 30, 2025. During the nine months ended September 30, 2025, we repurchased a total of $921.0 million of our common stock under our Prior Repurchase Program and $62.0 million of our common stock under our New Repurchase Program. As of September 30, 2025, the remaining authorized amount for repurchases under the New Repurchase Program was $1.4 billion. A summary of the stock repurchase activity under the Repurchase Programs for the nine months ended September 30, 2025 is as follows (in millions, except per share amounts):
The aggregate purchase price of repurchased shares of our common stock is recorded as a reduction to retained earnings in our unaudited condensed consolidated statements of stockholders' equity. All shares repurchased have been retired. Equity Award Plan Activities 2014 Employee Stock Purchase Plan In April 2014, our board of directors and stockholders approved the 2014 Employee Stock Purchase Plan (“ESPP”). The ESPP became effective on the first day that our common stock was publicly traded. The number of shares reserved for issuance under the ESPP increases automatically on January 1 of each year by the number of shares equal to 1% of our shares outstanding on the immediately preceding December 31, but not to exceed 40 million shares, unless our board of directors, in its discretion, determines to make a smaller increase. As of September 30, 2025, there remained approximately 104.1 million shares available for issuance under the ESPP. Under our ESPP, eligible employees are permitted to acquire shares of our common stock at 85% of the lower of the fair market value of our common stock on the first trading day of each offering period or on the exercise date. Each offering period lasts approximately two years starting on the first trading date after February 15 and August 15 of each year, and includes purchase dates every six months on or after February 15 and August 15 of each year. Participants may purchase shares of common stock through payroll deductions up to 15% of their eligible compensation, subject to Internal Revenue Service mandated purchase limits. During the nine months ended September 30, 2025, we issued 0.7 million shares at a weighted-average purchase price of $67.27 per share under the ESPP. 2014 Equity Incentive Plan On April 16, 2024, our board of directors adopted an amended and restated Arista Networks, Inc. 2014 Equity Plan ("Restated Plan"), effective April 17, 2024 ("Effective Date") subject to the approval of our stockholders, which was approved at the 2024 Annual Meeting of Stockholders on June 7, 2024. The Restated Plan provides for the grant of equity-based awards, including stock options, restricted stock units, restricted stock, stock appreciation rights, and performance awards. The share pool available under the prior version of the Company's 2014 Equity Incentive Plan ("Prior Plan") was extinguished, and the Restated Plan provides for a new share pool not to exceed (i) 52.8 million shares of our Common Stock (“Shares”), plus (ii) any Shares subject to awards under the Prior Plan that, on or after the Effective Date, expired or otherwise terminated without having been exercised in full, or that were forfeited to or repurchased by us, including net settlement of Shares subject to restricted stock units, with the maximum number of Shares to be added to the Restated Plan as a result of clause (ii) equal to 40.2 million Shares. The Restated Plan’s terms are substantially similar to the Prior Plan’s terms, including with respect to treatment of equity awards in the event of a “change in control” as defined under the Restated Plan, but with certain modifications, including the elimination of the automatic “evergreen” share reserve increase provided for under the Prior Plan. As of September 30, 2025, there remained approximately 45.7 million shares available for grant under the Restated Plan. Stock Option Activities The following table summarizes the option activity under our stock plans and related information (in millions, except years and per share amounts):
Restricted Stock Unit (RSU) Activities A summary of the RSU activity is presented below (in millions, except years and per share amounts):
Stock-Based Compensation Expense The following table summarizes the stock-based compensation expense related to our equity awards (in millions):
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Net Income Per Share |
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Sep. 30, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Earnings Per Share [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Net Income Per Share | Net Income Per Share Basic net income per share is computed using the weighted-average number of shares of common stock outstanding during the period. Diluted net income per share is computed using the weighted-average number of shares of common stock outstanding during the period, including potential common shares assuming the dilutive effect of outstanding stock options, restricted stock units, and the employee stock purchase plan using the treasury stock method. Potential common shares whose effect would have been antidilutive are excluded from the computation of diluted net income per share. The following table sets forth the computation of our basic and diluted net income per share (in millions, except per share amounts):
The following weighted-average outstanding shares of common stock equivalents were excluded from the computation of diluted net income per share for the periods presented because their effect would have been anti-dilutive for the periods presented (in millions):
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Income Taxes |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Income Tax Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Income Taxes | Income Taxes (in millions, except percentages)
On July 4, 2025, the One Big Beautiful Bill Act ("OBBB Act") was signed into law in the U.S. This legislation provides for significant tax law changes and modifications, including changes to the U.S. effective tax rates on certain foreign earnings, and permanently repeals the domestic research and development capitalization requirement. The increase in the effective tax rates in the three and nine months ended September 30, 2025, as compared to the same periods in 2024, was primarily associated with a one-time deferred tax provision arising from the remeasurement of our basis difference associated with the U.S. tax effect of foreign deferred tax assets resulting from the enactment of the OBBB Act, and a decrease in tax benefits attributable to equity-based compensation. While some specific provisions of the OBBB Act are not effective until our fiscal 2026 period, our deferred method of accounting policy with respect to U.S. tax on foreign earnings, known as global intangible low tax income, requires us to account for these changes in the period of enactment. In addition, we do not anticipate a material impact to our effective tax rate in future periods as a result of the OBBB Act.
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Segment and Geographical Information |
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Sep. 30, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Segment and Geographical Information | Segment and Geographical Information We operate as one reportable segment. The accounting policies of the reportable segment are the same as those described in the summary of significant accounting policies. Our chief operating decision maker ("CODM") is our President, Chief Executive Officer and Chairperson of the Board, who reviews financial information presented on a consolidated basis for purposes of allocating resources and evaluating financial performance. The financial information reviewed by the CODM reflects quarterly and year-to-date operating results, with a primary focus on revenue, gross margin, operating margin and net income as reported on the consolidated statements of income. Consolidated financial information is used by the CODM to evaluate performance and make decisions regarding resource allocation and other strategic initiatives. This consolidated financial information is also what is used to establish and approve operating budgets and forecasts. The measure of segment assets is reported on the consolidated balance sheets in total. There was no change for each of the periods presented in the measurement methods used to determine reported segment profit and loss. The CODM reviews the following significant segment expenses, which are presented separately on the Company’s consolidated statements of income: cost of product, cost of services, selling and marketing expenses, general and administrative expenses, and research and development expenses. Other segment items that are included in the calculation of the Company’s net income include other income (expense), net, which is further described in Note 3. Financial Statements Details and income taxes, which is further described in Note 8. Income Taxes. Other segment disclosures such as depreciation and amortization and stock-based compensation are disclosed in the Consolidated Statements of Cash Flows. The following table represents revenue based on customers’ shipping addresses (in millions):
(1) Includes $1,825.7 million and $1,465.3 million revenue generated from the U.S. for the three months ended September 30, 2025 and September 30, 2024, respectively, and $5,119.3 million and $4,060.8 million for the nine months ended September 30, 2025 and September 30, 2024, respectively. Long-lived assets, net, excluding intercompany receivables, investments in subsidiaries, privately-held equity investments and deferred tax assets, by location are summarized as follows (in millions):
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Insider Trading Arrangements |
3 Months Ended |
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Sep. 30, 2025 | |
| Trading Arrangements, by Individual | |
| Rule 10b5-1 Arrangement Adopted | false |
| Non-Rule 10b5-1 Arrangement Adopted | false |
| Rule 10b5-1 Arrangement Terminated | false |
| Non-Rule 10b5-1 Arrangement Terminated | false |
Organization and Summary of Significant Accounting Policies (Policies) |
9 Months Ended |
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Sep. 30, 2025 | |
| Accounting Policies [Abstract] | |
| Basis of Presentation and Principles of Consolidation | Basis of Presentation and Principles of Consolidation The accompanying unaudited condensed consolidated financial statements include the accounts of Arista Networks, Inc. and our wholly-owned subsidiaries and have been prepared in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”) and the requirements of the U.S. Securities and Exchange Commission (the “SEC”) for interim reporting. As permitted under those rules, certain footnotes or other financial information that are normally required by GAAP can be condensed or omitted. In management’s opinion, the unaudited condensed consolidated financial statements have been prepared on the same basis as the audited consolidated financial statements and include all adjustments, which include only normal recurring adjustments, necessary for the fair presentation of our financial information. The results for the three and nine months ended September 30, 2025, are not necessarily indicative of the results expected for the full fiscal year. The condensed consolidated balance sheet as of December 31, 2024 has been derived from the audited consolidated financial statements at that date but does not include all of the information and notes required by GAAP for complete financial statements. All significant inter-company accounts and transactions have been eliminated. Certain reclassifications of prior period amounts were made in the current year to conform to the current period presentation. On November 7, 2024, the Company announced a four-for-one forward stock split ("Stock Split") of the Company’s common stock that was effected through the filing of an amendment to the Company's Amended and Restated Certificate of Incorporation ("Amendment") on December 3, 2024. The Stock Split proportionately increased the authorized shares of common stock, and all share and per share amounts presented herein have been retroactively adjusted to reflect the impact of the Stock Split. Our condensed consolidated financial statements and related financial information in this Quarterly Report on Form 10-Q should be read in conjunction with the audited consolidated financial statements and related footnotes included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2024, filed with the SEC on February 18, 2025.
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| Use of Estimates | Use of Estimates The preparation of the accompanying consolidated financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the amounts reported and disclosed in the consolidated financial statements and accompanying notes. Those estimates and assumptions include, but are not limited to, valuation of inventory and contract manufacturer/supplier liabilities, accounting for income taxes, including the recognition of deferred tax assets and liabilities, valuation allowance on deferred tax assets and reserves for uncertain tax positions, revenue recognition and deferred revenue, valuation of goodwill and acquisition-related intangible assets, estimate of useful lives of long-lived assets including intangible assets, and the recognition and measurement of contingent liabilities. We evaluate our estimates and assumptions based on historical experience and other factors and adjust these estimates and assumptions when facts and circumstances dictate. Actual results could differ materially from these estimates.
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| Recent Accounting Pronouncements Not Yet Effective | Recent Accounting Pronouncements Not Yet Effective In December 2023, the Financial Accounting Standards Board ("FASB") issued ASU 2023-09, Income Taxes (Topic 740)-Improvements to Income Tax Disclosures. The ASU requires that an entity disclose specific categories in the effective tax rate reconciliation as well as provide additional information for reconciling items that meet a quantitative threshold. Further, the ASU requires certain disclosures of state versus federal income tax expense and taxes paid. The amendments in this ASU are required to be adopted for fiscal years beginning after December 15, 2024. Early adoption is permitted for annual financial statements that have not yet been issued. The amendments should be applied on a prospective basis although retrospective application is permitted. We will adopt the standard in our 2025 annual period using a prospective transition method. In November 2024, the FASB issued ASU 2024-03, Disaggregation of Income Statement Expenses (Subtopic 220-40). The ASU requires the disaggregated disclosure of specific expense categories, including purchases of inventory, employee compensation, depreciation, and amortization, within relevant income statement captions. This ASU also requires disclosure of the total amount of selling expenses along with the definition of selling expenses. The ASU is effective for annual periods beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. Adoption of this ASU can either be applied prospectively to consolidated financial statements issued for reporting periods after the effective date of this ASU or retrospectively to any or all prior periods presented in the consolidated financial statements. Early adoption is also permitted. This ASU will likely result in the required additional disclosures being included in our consolidated financial statements, once adopted. We are currently evaluating the impact of future adoption on our financial statement disclosures. In July 2025, the FASB issued ASU 2025-05 Financial Instruments - Credit Losses (Topic 326) Measurement of Credit Losses for Accounts Receivable and Contract Assets, or ASU 2025-05. The ASU provides a practical expedient that allows entities to assume that current conditions as of the balance sheet date do not change for the remaining life of the asset when estimating expected credit losses for current accounts receivable and current contract assets. The amendments of ASU 2025-05 should be applied prospectively and are effective for annual and interim periods beginning after December 15, 2025, with early adoption permitted. We do not expect the adoption of ASU 2025-05 to have a material impact on our consolidated financial statements and related disclosures.
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Fair Value Measurements (Tables) |
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| Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Fair Value of Financial Assets by Level | The following tables summarize the fair value of these financial assets by significant investment category and their levels within the fair value hierarchy (in millions):
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| Schedule of Debt Securities, Available-for-Sale, Unrealized Loss Position, Fair Value | The following table is an analysis of our debt securities in unrealized loss positions (in millions):
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| Schedule of Fair Value of Available-for-Sale Investments by Contractual Maturity | The fair values of marketable debt securities, by remaining contractual maturities, are as follows (in millions):
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Financial Statements Details (Tables) |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sep. 30, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Balance Sheet Components [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Inventories | Inventories consist of the following (in millions):
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| Schedule of Property and Equipment, Net | Property and equipment, net consists of the following (in millions):
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| Schedule of Contract Assets, Contract Liabilities and Deferred Revenue | The following table summarizes the activity related to our contract liabilities (in millions):
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| Schedule of Other Income (Expense), Net | Other income (expense), net consists of the following (in millions):
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Acquisition (Tables) |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Finite-lived Intangible Assets | Acquisition-related intangible assets, excluding those that are fully amortized and no longer have economic benefit, were as follows (in millions, except years):
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| Schedule of Finite-lived Intangible Assets, Future Amortization Expense | Future estimated amortization expense related to acquisition-related intangible assets is as follows (in millions):
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Stockholders’ Equity and Stock-Based Compensation (Tables) |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Share-Based Payment Arrangement [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Shares Repurchased | A summary of the stock repurchase activity under the Repurchase Programs for the nine months ended September 30, 2025 is as follows (in millions, except per share amounts):
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| Schedule of Option Activity | The following table summarizes the option activity under our stock plans and related information (in millions, except years and per share amounts):
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| Schedule of Restricted Stock Units Activity | A summary of the RSU activity is presented below (in millions, except years and per share amounts):
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| Schedule of Stock-based Compensation Expense | The following table summarizes the stock-based compensation expense related to our equity awards (in millions):
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Net Income Per Share (Tables) |
9 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Earnings Per Share [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Basic and Diluted Net Income Per Share Available to Common Stock | The following table sets forth the computation of our basic and diluted net income per share (in millions, except per share amounts):
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| Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share | The following weighted-average outstanding shares of common stock equivalents were excluded from the computation of diluted net income per share for the periods presented because their effect would have been anti-dilutive for the periods presented (in millions):
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Income Taxes (Tables) |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Income Tax Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Income Tax Expense (Benefit) |
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Segment and Geographical Information (Tables) |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Revenue and Long-lived Assets, by Location | The following table represents revenue based on customers’ shipping addresses (in millions):
(1) Includes $1,825.7 million and $1,465.3 million revenue generated from the U.S. for the three months ended September 30, 2025 and September 30, 2024, respectively, and $5,119.3 million and $4,060.8 million for the nine months ended September 30, 2025 and September 30, 2024, respectively. Long-lived assets, net, excluding intercompany receivables, investments in subsidiaries, privately-held equity investments and deferred tax assets, by location are summarized as follows (in millions):
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Organization and Summary of Significant Accounting Policies (Details) |
1 Months Ended | |
|---|---|---|
Nov. 07, 2024 |
Dec. 31, 2024 |
|
| Accounting Policies [Abstract] | ||
| Stock split ratio | 4 | 4 |
Fair Value Measurements - Fair Value of Financial Assets by Level (Details) - USD ($) $ in Millions |
Sep. 30, 2025 |
Dec. 31, 2024 |
|---|---|---|
| Assets, Fair Value Disclosure [Abstract] | ||
| Cash Equivalents: | $ 1,031.0 | $ 1,741.9 |
| Marketable Securities: | 7,779.6 | |
| Total Financial Assets | 8,812.0 | 7,284.4 |
| Debt Securities, Available-for-Sale, Fair Value to Amortized Cost, after Allowance for Credit Loss [Abstract] | ||
| Amortized Cost | 7,894.2 | 5,580.3 |
| Unrealized Gains | 23.1 | 8.7 |
| Unrealized Losses | (2.8) | (13.5) |
| Fair Value | 7,914.5 | 5,575.5 |
| Marketable securities | ||
| Assets, Fair Value Disclosure [Abstract] | ||
| Marketable Securities | 7,779.6 | 5,541.1 |
| Commercial paper | ||
| Assets, Fair Value Disclosure [Abstract] | ||
| Marketable Securities: | 37.3 | 48.8 |
| Debt Securities, Available-for-Sale, Fair Value to Amortized Cost, after Allowance for Credit Loss [Abstract] | ||
| Amortized Cost | 42.3 | 48.8 |
| Unrealized Gains | 0.0 | 0.0 |
| Unrealized Losses | 0.0 | 0.0 |
| Fair Value | 42.3 | 48.8 |
| U.S. government notes | ||
| Assets, Fair Value Disclosure [Abstract] | ||
| Marketable Securities: | 2,618.6 | 1,921.5 |
| Debt Securities, Available-for-Sale, Fair Value to Amortized Cost, after Allowance for Credit Loss [Abstract] | ||
| Amortized Cost | 2,742.0 | 1,954.8 |
| Unrealized Gains | 7.1 | 2.7 |
| Unrealized Losses | (0.6) | (4.6) |
| Fair Value | 2,748.5 | 1,952.9 |
| Corporate bonds | ||
| Assets, Fair Value Disclosure [Abstract] | ||
| Marketable Securities: | 3,760.9 | 2,593.6 |
| Debt Securities, Available-for-Sale, Fair Value to Amortized Cost, after Allowance for Credit Loss [Abstract] | ||
| Amortized Cost | 3,748.8 | 2,595.7 |
| Unrealized Gains | 13.7 | 4.4 |
| Unrealized Losses | (1.6) | (6.5) |
| Fair Value | 3,760.9 | 2,593.6 |
| Municipal bonds | ||
| Assets, Fair Value Disclosure [Abstract] | ||
| Marketable Securities: | 9.8 | 0.0 |
| Debt Securities, Available-for-Sale, Fair Value to Amortized Cost, after Allowance for Credit Loss [Abstract] | ||
| Amortized Cost | 9.8 | 0.0 |
| Unrealized Gains | 0.0 | 0.0 |
| Unrealized Losses | 0.0 | 0.0 |
| Fair Value | 9.8 | 0.0 |
| Agency securities | ||
| Assets, Fair Value Disclosure [Abstract] | ||
| Marketable Securities: | 1,353.0 | 977.2 |
| Debt Securities, Available-for-Sale, Fair Value to Amortized Cost, after Allowance for Credit Loss [Abstract] | ||
| Amortized Cost | 1,351.3 | 981.0 |
| Unrealized Gains | 2.3 | 1.6 |
| Unrealized Losses | (0.6) | (2.4) |
| Fair Value | 1,353.0 | 980.2 |
| Money market funds - restricted | ||
| Assets, Fair Value Disclosure [Abstract] | ||
| Money market funds - restricted | 1.4 | 1.4 |
| Money market funds | ||
| Assets, Fair Value Disclosure [Abstract] | ||
| Cash Equivalents: | 896.1 | 1,707.5 |
| Commercial paper | ||
| Assets, Fair Value Disclosure [Abstract] | ||
| Cash Equivalents: | 5.0 | 0.0 |
| U.S. government notes | ||
| Assets, Fair Value Disclosure [Abstract] | ||
| Cash Equivalents: | 129.9 | 31.4 |
| Agency securities | ||
| Assets, Fair Value Disclosure [Abstract] | ||
| Cash Equivalents: | 0.0 | 3.0 |
| Level I | ||
| Assets, Fair Value Disclosure [Abstract] | ||
| Cash Equivalents: | 1,026.0 | 1,738.9 |
| Total Financial Assets | 3,646.0 | 3,661.8 |
| Level I | Marketable securities | ||
| Assets, Fair Value Disclosure [Abstract] | ||
| Marketable Securities | 2,618.6 | 1,921.5 |
| Level I | Commercial paper | ||
| Assets, Fair Value Disclosure [Abstract] | ||
| Marketable Securities: | 0.0 | 0.0 |
| Level I | U.S. government notes | ||
| Assets, Fair Value Disclosure [Abstract] | ||
| Marketable Securities: | 2,618.6 | 1,921.5 |
| Level I | Corporate bonds | ||
| Assets, Fair Value Disclosure [Abstract] | ||
| Marketable Securities: | 0.0 | 0.0 |
| Level I | Municipal bonds | ||
| Assets, Fair Value Disclosure [Abstract] | ||
| Marketable Securities: | 0.0 | 0.0 |
| Level I | Agency securities | ||
| Assets, Fair Value Disclosure [Abstract] | ||
| Marketable Securities: | 0.0 | 0.0 |
| Level I | Money market funds - restricted | ||
| Assets, Fair Value Disclosure [Abstract] | ||
| Money market funds - restricted | 1.4 | 1.4 |
| Level I | Money market funds | ||
| Assets, Fair Value Disclosure [Abstract] | ||
| Cash Equivalents: | 896.1 | 1,707.5 |
| Level I | Commercial paper | ||
| Assets, Fair Value Disclosure [Abstract] | ||
| Cash Equivalents: | 0.0 | 0.0 |
| Level I | U.S. government notes | ||
| Assets, Fair Value Disclosure [Abstract] | ||
| Cash Equivalents: | 129.9 | 31.4 |
| Level I | Agency securities | ||
| Assets, Fair Value Disclosure [Abstract] | ||
| Cash Equivalents: | 0.0 | 0.0 |
| Level II | ||
| Assets, Fair Value Disclosure [Abstract] | ||
| Cash Equivalents: | 5.0 | 3.0 |
| Total Financial Assets | 5,166.0 | 3,622.6 |
| Level II | Marketable securities | ||
| Assets, Fair Value Disclosure [Abstract] | ||
| Marketable Securities | 5,161.0 | 3,619.6 |
| Level II | Commercial paper | ||
| Assets, Fair Value Disclosure [Abstract] | ||
| Marketable Securities: | 37.3 | 48.8 |
| Level II | U.S. government notes | ||
| Assets, Fair Value Disclosure [Abstract] | ||
| Marketable Securities: | 0.0 | 0.0 |
| Level II | Corporate bonds | ||
| Assets, Fair Value Disclosure [Abstract] | ||
| Marketable Securities: | 3,760.9 | 2,593.6 |
| Level II | Municipal bonds | ||
| Assets, Fair Value Disclosure [Abstract] | ||
| Marketable Securities: | 9.8 | 0.0 |
| Level II | Agency securities | ||
| Assets, Fair Value Disclosure [Abstract] | ||
| Marketable Securities: | 1,353.0 | 977.2 |
| Level II | Money market funds - restricted | ||
| Assets, Fair Value Disclosure [Abstract] | ||
| Money market funds - restricted | 0.0 | 0.0 |
| Level II | Money market funds | ||
| Assets, Fair Value Disclosure [Abstract] | ||
| Cash Equivalents: | 0.0 | 0.0 |
| Level II | Commercial paper | ||
| Assets, Fair Value Disclosure [Abstract] | ||
| Cash Equivalents: | 5.0 | 0.0 |
| Level II | U.S. government notes | ||
| Assets, Fair Value Disclosure [Abstract] | ||
| Cash Equivalents: | 0.0 | 0.0 |
| Level II | Agency securities | ||
| Assets, Fair Value Disclosure [Abstract] | ||
| Cash Equivalents: | 0.0 | 3.0 |
| Level III | ||
| Assets, Fair Value Disclosure [Abstract] | ||
| Cash Equivalents: | 0.0 | 0.0 |
| Total Financial Assets | 0.0 | 0.0 |
| Level III | Marketable securities | ||
| Assets, Fair Value Disclosure [Abstract] | ||
| Marketable Securities | 0.0 | 0.0 |
| Level III | Commercial paper | ||
| Assets, Fair Value Disclosure [Abstract] | ||
| Marketable Securities: | 0.0 | 0.0 |
| Level III | U.S. government notes | ||
| Assets, Fair Value Disclosure [Abstract] | ||
| Marketable Securities: | 0.0 | 0.0 |
| Level III | Corporate bonds | ||
| Assets, Fair Value Disclosure [Abstract] | ||
| Marketable Securities: | 0.0 | 0.0 |
| Level III | Municipal bonds | ||
| Assets, Fair Value Disclosure [Abstract] | ||
| Marketable Securities: | 0.0 | 0.0 |
| Level III | Agency securities | ||
| Assets, Fair Value Disclosure [Abstract] | ||
| Marketable Securities: | 0.0 | 0.0 |
| Level III | Money market funds - restricted | ||
| Assets, Fair Value Disclosure [Abstract] | ||
| Money market funds - restricted | 0.0 | 0.0 |
| Level III | Money market funds | ||
| Assets, Fair Value Disclosure [Abstract] | ||
| Cash Equivalents: | 0.0 | 0.0 |
| Level III | Commercial paper | ||
| Assets, Fair Value Disclosure [Abstract] | ||
| Cash Equivalents: | 0.0 | 0.0 |
| Level III | U.S. government notes | ||
| Assets, Fair Value Disclosure [Abstract] | ||
| Cash Equivalents: | 0.0 | 0.0 |
| Level III | Agency securities | ||
| Assets, Fair Value Disclosure [Abstract] | ||
| Cash Equivalents: | $ 0.0 | $ 0.0 |
Fair Value Measurements - Narrative (Details) |
9 Months Ended |
|---|---|
Sep. 30, 2025 | |
| Fair Value Disclosures [Abstract] | |
| Invested marketable securities, maximum maturity period (in years) | 3 years |
| Marketable securities, weighted average remaining duration (in years) | 1 year 4 months 24 days |
Fair Value Measurements - Unrealized Loss Position (Details) $ in Millions |
Sep. 30, 2025
USD ($)
|
|---|---|
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
| Unrealized Losses within 12 months, Fair Value | $ 2,141.6 |
| Unrealized Losses within 12 months, Unrealized Losses | (2.7) |
| Unrealized Losses 12 months or greater, Fair Value | 77.7 |
| Unrealized Losses 12 months or greater, Unrealized Losses | (0.1) |
| Total, Fair Value | 2,219.3 |
| Total, Unrealized Losses | (2.8) |
| Commercial paper | |
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
| Unrealized Losses within 12 months, Fair Value | 9.8 |
| Unrealized Losses within 12 months, Unrealized Losses | 0.0 |
| Unrealized Losses 12 months or greater, Fair Value | 0.0 |
| Unrealized Losses 12 months or greater, Unrealized Losses | 0.0 |
| Total, Fair Value | 9.8 |
| Total, Unrealized Losses | 0.0 |
| U.S. government notes | |
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
| Unrealized Losses within 12 months, Fair Value | 882.7 |
| Unrealized Losses within 12 months, Unrealized Losses | (0.5) |
| Unrealized Losses 12 months or greater, Fair Value | 46.6 |
| Unrealized Losses 12 months or greater, Unrealized Losses | (0.1) |
| Total, Fair Value | 929.3 |
| Total, Unrealized Losses | (0.6) |
| Corporate bonds | |
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
| Unrealized Losses within 12 months, Fair Value | 833.8 |
| Unrealized Losses within 12 months, Unrealized Losses | (1.6) |
| Unrealized Losses 12 months or greater, Fair Value | 19.2 |
| Unrealized Losses 12 months or greater, Unrealized Losses | 0.0 |
| Total, Fair Value | 853.0 |
| Total, Unrealized Losses | (1.6) |
| Agency securities | |
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
| Unrealized Losses within 12 months, Fair Value | 415.3 |
| Unrealized Losses within 12 months, Unrealized Losses | (0.6) |
| Unrealized Losses 12 months or greater, Fair Value | 11.9 |
| Unrealized Losses 12 months or greater, Unrealized Losses | 0.0 |
| Total, Fair Value | 427.2 |
| Total, Unrealized Losses | $ (0.6) |
Fair Value Measurements - Investment by Maturity Dates (Details) $ in Millions |
Sep. 30, 2025
USD ($)
|
|---|---|
| Fair Value Disclosures [Abstract] | |
| Due in 1 year or less | $ 2,893.3 |
| Due in 1 to 3 years | 4,886.3 |
| Total debt securities | $ 7,779.6 |
Financial Statements Details - Inventories (Details) - USD ($) $ in Millions |
Sep. 30, 2025 |
Dec. 31, 2024 |
|---|---|---|
| Inventories | ||
| Raw materials | $ 650.6 | $ 565.4 |
| Finished goods | 1,505.1 | 1,269.2 |
| Total inventories | 2,155.7 | 1,834.6 |
| Inventory [Line Items] | ||
| Finished goods | 1,505.1 | 1,269.2 |
| Evaluation Inventory | ||
| Inventories | ||
| Finished goods | 427.3 | 422.1 |
| Inventory [Line Items] | ||
| Finished goods | $ 427.3 | $ 422.1 |
Financial Statements Details - Property and Equipment, net (Details) - USD ($) $ in Millions |
3 Months Ended | 9 Months Ended | |||
|---|---|---|---|---|---|
Sep. 30, 2025 |
Sep. 30, 2024 |
Sep. 30, 2025 |
Sep. 30, 2024 |
Dec. 31, 2024 |
|
| Property, Plant and Equipment [Line Items] | |||||
| Property and equipment, gross | $ 413.4 | $ 413.4 | $ 318.2 | ||
| Less: accumulated depreciation | (240.8) | (240.8) | (219.4) | ||
| Property and equipment, net | 172.6 | 172.6 | 98.8 | ||
| Depreciation | 7.4 | $ 8.5 | 23.2 | $ 25.6 | |
| Land | |||||
| Property, Plant and Equipment [Line Items] | |||||
| Property and equipment, gross | 47.3 | 47.3 | 47.2 | ||
| Equipment and machinery | |||||
| Property, Plant and Equipment [Line Items] | |||||
| Property and equipment, gross | 178.4 | 178.4 | 160.7 | ||
| Computer hardware and software | |||||
| Property, Plant and Equipment [Line Items] | |||||
| Property and equipment, gross | 65.9 | 65.9 | 63.9 | ||
| Leasehold improvements | |||||
| Property, Plant and Equipment [Line Items] | |||||
| Property and equipment, gross | 37.0 | 37.0 | 34.7 | ||
| Furniture and fixtures | |||||
| Property, Plant and Equipment [Line Items] | |||||
| Property and equipment, gross | 3.7 | 3.7 | 3.5 | ||
| Construction-in-process | |||||
| Property, Plant and Equipment [Line Items] | |||||
| Property and equipment, gross | $ 81.1 | $ 81.1 | $ 8.2 | ||
Financial Statements Details - Contract Liabilities (Details) - USD ($) $ in Millions |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Sep. 30, 2025 |
Sep. 30, 2024 |
Sep. 30, 2025 |
Sep. 30, 2024 |
|
| Change in Contract with Customer, Liability [Roll Forward] | ||||
| Contract liabilities, beginning balance | $ 188.1 | $ 144.1 | $ 160.8 | $ 133.2 |
| Less: Revenue recognized from beginning balance | (26.9) | (12.7) | (49.0) | (44.7) |
| Add: Contract liabilities recognized, net | 25.6 | 15.6 | 75.0 | 58.5 |
| Contract liabilities, ending balance | 186.8 | $ 147.0 | 186.8 | $ 147.0 |
| Other Current Liabilities | ||||
| Change in Contract with Customer, Liability [Roll Forward] | ||||
| Contract liabilities, beginning balance | 65.7 | |||
| Contract liabilities, ending balance | $ 78.5 | $ 78.5 | ||
Financial Statements Details - Deferred Revenue (Details) - USD ($) $ in Millions |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Sep. 30, 2025 |
Sep. 30, 2024 |
Sep. 30, 2025 |
Sep. 30, 2024 |
|
| Change in Contract with Customer, Liability [Roll Forward] | ||||
| Deferred revenue, beginning balance | $ 4,061.7 | $ 2,118.8 | $ 2,791.4 | $ 1,506.2 |
| Less: Revenue recognized from beginning balance | (699.7) | (249.3) | (1,094.5) | (616.3) |
| Add: Deferral of revenue in current period, excluding amounts recognized during the period | 1,324.2 | 637.8 | 2,989.3 | 1,617.4 |
| Deferred revenue, ending balance | $ 4,686.2 | $ 2,507.3 | $ 4,686.2 | $ 2,507.3 |
Financial Statements Details - Other Performance Obligations (Details) - USD ($) $ in Millions |
Sep. 30, 2025 |
Sep. 30, 2024 |
|---|---|---|
| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | ||
| Revenue, remaining performance obligation including contract liabilities, deferred revenue and other performance obligations, amount | $ 5,300.0 | |
| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-10-01 | ||
| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | ||
| Revenue, performance obligation (as a percent) | 90.00% | |
| Revenue, performance obligation, period (in years) | 2 years | |
| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-10-01 | ||
| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | ||
| Revenue, performance obligation (as a percent) | 10.00% | |
| Revenue, performance obligation, period (in years) | 3 years | |
| Unbilled Revenues | ||
| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | ||
| Revenue, remaining performance obligation, amount | $ 377.2 | |
| Product | ||
| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | ||
| Revenue, remaining performance obligation, amount | 88.7 | |
| Product | Unbilled Revenues | ||
| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | ||
| Revenue, remaining performance obligation, amount | $ 465.9 |
Financial Statements Details - Other Income (Expense), net (Details) - USD ($) $ in Millions |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Sep. 30, 2025 |
Sep. 30, 2024 |
Sep. 30, 2025 |
Sep. 30, 2024 |
|
| Balance Sheet Components [Abstract] | ||||
| Interest income | $ 99.8 | $ 85.4 | $ 280.4 | $ 220.6 |
| Other income (expense), net | (0.9) | 12.2 | 8.7 | 10.5 |
| Total | $ 98.9 | $ 97.6 | $ 289.1 | $ 231.1 |
Acquisition - Narrative (Details) - VeloCloud $ in Millions |
Jun. 30, 2025
USD ($)
|
|---|---|
| Business Combination [Line Items] | |
| Business Combination, Consideration Transferred | $ 300.0 |
| Intangible assets acquired | 268.4 |
| Goodwill acquired | 148.0 |
| Net tangible liabilities assumed | $ 116.4 |
Acquisition - Acquisition-related Intangible Assets (Details) - USD ($) $ in Millions |
9 Months Ended | 12 Months Ended |
|---|---|---|
Sep. 30, 2025 |
Dec. 31, 2024 |
|
| Finite-lived Intangible Assets [Roll Forward] | ||
| Weighted-Average Remaining Useful Lives (in years) | 5 years 7 months 6 days | |
| Gross Carrying Amount | $ 490.3 | $ 221.9 |
| Accumulated Amortization | (186.2) | (159.9) |
| Total | $ 304.1 | 62.0 |
| Developed technology | ||
| Finite-lived Intangible Assets [Roll Forward] | ||
| Weighted-Average Remaining Useful Lives (in years) | 4 years 3 months 18 days | |
| Gross Carrying Amount | $ 241.1 | 154.9 |
| Accumulated Amortization | (132.0) | (119.2) |
| Total | $ 109.1 | 35.7 |
| Customer relationships | ||
| Finite-lived Intangible Assets [Roll Forward] | ||
| Weighted-Average Remaining Useful Lives (in years) | 6 years 4 months 24 days | |
| Gross Carrying Amount | $ 224.3 | 54.6 |
| Accumulated Amortization | (41.2) | (29.5) |
| Total | $ 183.1 | 25.1 |
| Trade name | ||
| Finite-lived Intangible Assets [Roll Forward] | ||
| Weighted-Average Remaining Useful Lives (in years) | 4 years 9 months 18 days | |
| Gross Carrying Amount | $ 24.9 | 12.4 |
| Accumulated Amortization | (13.0) | (11.2) |
| Total | $ 11.9 | $ 1.2 |
Acquisition - Future Estimated Amortization Expense (Details) - USD ($) $ in Millions |
Sep. 30, 2025 |
Dec. 31, 2024 |
|---|---|---|
| Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract] | ||
| Remainder of 2025 | $ 15.3 | |
| 2026 | 61.3 | |
| 2027 | 57.4 | |
| 2028 | 54.0 | |
| 2029 and thereafter | 116.1 | |
| Total | $ 304.1 | $ 62.0 |
Commitments and Contingencies (Details) - USD ($) $ in Millions |
Sep. 30, 2025 |
Dec. 31, 2024 |
|---|---|---|
| Long-term Purchase Commitment [Line Items] | ||
| Non-cancellable purchase commitments | $ 4,800.0 | |
| Non-cancellable purchase commitments, due in next twelve months | 4,300.0 | |
| Non-cancelable purchase commitments, due after next twelve months | 500.0 | |
| Prepaid Expenses and Other Current Assets | ||
| Long-term Purchase Commitment [Line Items] | ||
| Deposits to purchase inventory | 50.1 | $ 95.8 |
| Minimum | ||
| Long-term Purchase Commitment [Line Items] | ||
| Estimated capital expenditures | 170.0 | |
| Maximum | ||
| Long-term Purchase Commitment [Line Items] | ||
| Estimated capital expenditures | $ 200.0 |
Stockholders’ Equity and Stock-Based Compensation - Narrative (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions |
3 Months Ended | 9 Months Ended | |||||
|---|---|---|---|---|---|---|---|
Jan. 01, 2024 |
Sep. 30, 2025 |
Sep. 30, 2024 |
Sep. 30, 2025 |
Sep. 30, 2024 |
May 31, 2025 |
Apr. 17, 2024 |
|
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
| Aggregate purchase price | $ 0.0 | $ 65.1 | $ 983.0 | $ 299.8 | |||
| 2014 Employee Stock Purchase Plan | |||||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
| Percent of shares outstanding to increase number of shares available for grant and issuance (as a percent) | 1.00% | ||||||
| Maximum increase of number of shares available for issuance (in shares) | 40.0 | ||||||
| Percentage of share cost offered to eligible employees for share purchases (as a percent) | 85.00% | ||||||
| Offering period | 2 years | ||||||
| Purchase period term | 6 months | ||||||
| Maximum percentage of payroll deductions per employee (as a percent) | 0.15 | ||||||
| Restated Plan | |||||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
| Share-based compensation arrangement by share-based payment award, maximum, number of outstanding stock (in shares) | 52.8 | ||||||
| Share-based compensation arrangement by share-based payment award, number of shares authorized (in shares) | 40.2 | ||||||
| Employee Stock | 2014 Employee Stock Purchase Plan | |||||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
| Common stock reserved for issuance (in shares) | 104.1 | 104.1 | |||||
| Shares issued (in shares) | 0.7 | ||||||
| Weighted-average purchase price (in dollars per share) | $ 67.27 | $ 67.27 | |||||
| Stock Option | |||||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
| Unamortized compensation costs | $ 1,600.0 | $ 1,600.0 | |||||
| Unamortized compensation costs weighted-average period (in years) | 4 years 4 months 24 days | ||||||
| Stock Option | Restated Plan | |||||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
| Common stock reserved for issuance (in shares) | 45.7 | 45.7 | |||||
| Prior Repurchase Program | |||||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
| Authorized amount for stock repurchases | $ 1,200.0 | ||||||
| Aggregate purchase price | $ 0.0 | $ 921.0 | |||||
| New Repurchase Program | |||||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
| Authorized amount for stock repurchases | $ 1,500.0 | ||||||
| Aggregate purchase price | 62.0 | ||||||
| Remaining authorized repurchase amount | $ 1,400.0 | $ 1,400.0 | |||||
Stockholders’ Equity and Stock-Based Compensation - Stock Repurchase Program (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Sep. 30, 2025 |
Sep. 30, 2024 |
Sep. 30, 2025 |
Sep. 30, 2024 |
|
| Share-Based Payment Arrangement [Abstract] | ||||
| Aggregate purchase price | $ 0.0 | $ 65.1 | $ 983.0 | $ 299.8 |
| Shares repurchased (in shares) | 11.1 | |||
| Average price paid per share (in dollars per share) | $ 88.7 | |||
Stockholders’ Equity and Stock-Based Compensation - Stock Option Activities (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions |
9 Months Ended | 12 Months Ended |
|---|---|---|
Sep. 30, 2025 |
Dec. 31, 2024 |
|
| Number of Shares Underlying Outstanding Options | ||
| Outstanding, beginning balance (in shares) | 3.1 | |
| Options granted (in shares) | 0.0 | |
| Options exercised (in shares) | (2.1) | |
| Options canceled (in shares) | (0.1) | |
| Outstanding, ending balance (in shares) | 0.9 | 3.1 |
| Vested and exercisable (in shares) | 0.9 | |
| Weighted- Average Exercise Price per Share | ||
| Outstanding, beginning balance (in dollars per share) | $ 6.71 | |
| Options granted (in dollars per share) | 0 | |
| Options exercised (in dollars per share) | 3.99 | |
| Options canceled (in dollars per share) | 14.70 | |
| Outstanding, ending balance (in dollars per share) | 11.74 | $ 6.71 |
| Vested and exercisable (in dollars per share) | $ 11.74 | |
| Weighted- Average Remaining Contractual Term (in Years) and Aggregate Intrinsic Value | ||
| Weighted-average remaining contractual term of stock options outstanding (in years) | 2 years 7 months 6 days | 1 year 6 months |
| Weighted-average remaining contractual term of stock options vested and exercisable (in years) | 2 years 7 months 6 days | |
| Aggregate intrinsic value of stock options outstanding | $ 126.4 | $ 320.9 |
| Aggregate intrinsic value of stock options outstanding, vested and exercisable | $ 126.4 |
Stockholders’ Equity and Stock-Based Compensation - Restricted Stock Unit (RSU) Activities (Details) - Restricted Stock Units (RSUs) including PRSUs shares in Millions |
9 Months Ended |
|---|---|
|
Sep. 30, 2025
$ / shares
shares
| |
| Number of Shares | |
| Unvested beginning balance (in shares) | shares | 28.6 |
| RSUs and PRSUs granted (in shares) | shares | 9.6 |
| RSUs and PRSUs vested (in shares) | shares | (6.7) |
| RSUs and PRSUs forfeited/canceled (in shares) | shares | (2.2) |
| Unvested ending balance (in shares) | shares | 29.3 |
| Weighted- Average Grant Date Fair Value Per Share | |
| Unvested beginning balance (in dollars per share) | $ / shares | $ 45.46 |
| RSUs and PRSUs granted (in dollars per share) | $ / shares | 98.29 |
| RSUs and PRSUs vested (in dollars per share) | $ / shares | 35.82 |
| RSUs and PRSUs forfeited/canceled (in dollars per share) | $ / shares | 48.65 |
| Unvested ending balance (in dollars per share) | $ / shares | $ 65.18 |
Stockholders’ Equity and Stock-Based Compensation - Stock-Based Compensation Expense (Details) - USD ($) $ in Millions |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Sep. 30, 2025 |
Sep. 30, 2024 |
Sep. 30, 2025 |
Sep. 30, 2024 |
|
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
| Total stock-based compensation | $ 127.9 | $ 98.1 | $ 306.1 | $ 254.6 |
| Cost of revenue | ||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
| Total stock-based compensation | 8.0 | 4.1 | 19.3 | 11.5 |
| Research and development | ||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
| Total stock-based compensation | 74.6 | 58.3 | 184.8 | 152.9 |
| Sales and marketing | ||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
| Total stock-based compensation | 32.9 | 21.0 | 71.6 | 56.6 |
| General and administrative | ||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
| Total stock-based compensation | $ 12.4 | $ 14.7 | $ 30.4 | $ 33.6 |
Net Income Per Share - Basic and Diluted Net Income Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions |
3 Months Ended | 9 Months Ended | ||||
|---|---|---|---|---|---|---|
Sep. 30, 2025 |
Sep. 30, 2024 |
Sep. 30, 2025 |
Sep. 30, 2024 |
|||
| Numerator: | ||||||
| Net income | $ 853.0 | $ 748.0 | $ 2,555.6 | $ 2,051.1 | ||
| Net income | $ 853.0 | $ 748.0 | $ 2,555.6 | $ 2,051.1 | ||
| Denominator: | ||||||
| Basic weighted-average shares outstanding (in shares) | [1] | 1,258.0 | 1,257.9 | 1,258.1 | 1,255.0 | |
| Add weighted-average effect of dilutive securities: | ||||||
| Employee equity awards (in shares) | 18.6 | 23.9 | 17.6 | 25.3 | ||
| Diluted weighted-average shares outstanding (in shares) | [1] | 1,276.6 | 1,281.8 | 1,275.7 | 1,280.3 | |
| Net income per share: | ||||||
| Basic (in dollars per share) | [1] | $ 0.68 | $ 0.59 | $ 2.03 | $ 1.63 | |
| Diluted (in dollars per share) | [1] | $ 0.67 | $ 0.58 | $ 2.00 | $ 1.60 | |
| ||||||
Net Income Per Share - Antidilutive Securities Excluded from Earnings Per Share (Details) - shares shares in Millions |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Sep. 30, 2025 |
Sep. 30, 2024 |
Sep. 30, 2025 |
Sep. 30, 2024 |
|
| Earnings Per Share [Abstract] | ||||
| Employee equity awards (in shares) | 0.2 | 0.2 | 1.4 | 0.3 |
Income Taxes (Details) - USD ($) $ in Millions |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Sep. 30, 2025 |
Sep. 30, 2024 |
Sep. 30, 2025 |
Sep. 30, 2024 |
|
| Income Tax Disclosure [Abstract] | ||||
| Income before income taxes | $ 1,077.1 | $ 882.9 | $ 3,112.3 | $ 2,376.1 |
| Provision for income taxes | $ 224.1 | $ 134.9 | $ 556.7 | $ 325.0 |
| Effective tax rate | 20.80% | 15.30% | 17.90% | 13.70% |
Segment and Geographical Information (Details) $ in Millions |
3 Months Ended | 9 Months Ended | |||
|---|---|---|---|---|---|
|
Sep. 30, 2025
USD ($)
|
Sep. 30, 2024
USD ($)
|
Sep. 30, 2025
USD ($)
segment
|
Sep. 30, 2024
USD ($)
|
Dec. 31, 2024
USD ($)
|
|
| Segment Reporting [Abstract] | |||||
| Number of reportable segments | segment | 1 | ||||
| Revenues from External Customers and Long-Lived Assets [Line Items] | |||||
| Total revenue | $ 2,308.3 | $ 1,810.9 | $ 6,517.9 | $ 5,072.7 | |
| Long-lived assets | 172.6 | 172.6 | $ 98.8 | ||
| Americas | |||||
| Revenues from External Customers and Long-Lived Assets [Line Items] | |||||
| Total revenue | 1,840.0 | 1,480.1 | 5,162.6 | 4,109.7 | |
| Europe, Middle East and Africa | |||||
| Revenues from External Customers and Long-Lived Assets [Line Items] | |||||
| Total revenue | 238.8 | 191.2 | 695.0 | 511.5 | |
| Asia-Pacific | |||||
| Revenues from External Customers and Long-Lived Assets [Line Items] | |||||
| Total revenue | 229.5 | 139.6 | 660.3 | 451.5 | |
| United States | |||||
| Revenues from External Customers and Long-Lived Assets [Line Items] | |||||
| Total revenue | 1,825.7 | $ 1,465.3 | 5,119.3 | $ 4,060.8 | |
| Long-lived assets | 155.6 | 155.6 | 83.5 | ||
| International | |||||
| Revenues from External Customers and Long-Lived Assets [Line Items] | |||||
| Long-lived assets | $ 17.0 | $ 17.0 | $ 15.3 | ||