Arista Networks (ANET) 10-Q6 May 212021 Q1 Quarterly reportFinancial data

Company Profile

Cover Page

Cover Page - shares	3 Months Ended
Cover Page - shares	Mar. 31, 2021	May 03, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2021
Document Transition Report	false
Entity File Number	001-36468
Entity Registrant Name	Arista Networks, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	20-1751121
Entity Address, Address Line One	5453 Great America Parkway
Entity Address, City or Town	Santa Clara
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	95054
City Area Code	(408)
Local Phone Number	547-5500
Title of 12(b) Security	Common Stock, $0.0001 par value
Trading Symbol	ANET
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		76,321,815
Entity Central Index Key	0001596532
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
CURRENT ASSETS:
Cash and cash equivalents	$ 843,336	$ 893,219
Marketable securities	2,184,330	1,979,649
Accounts receivable, net of rebates and allowances of $4,738 and $4,497, respectively	380,466	389,540
Inventories	483,168	479,668
Prepaid expenses and other current assets	111,595	94,922
Total current assets	4,002,895	3,836,998
Property and equipment, net	32,462	32,231
Acquisition-related intangible assets, net	115,359	122,790
Goodwill	188,277	189,696
Investments	10,314	8,314
Operating lease right-of-use assets	72,956	77,288
Deferred tax assets	438,277	441,531
Other assets	33,190	30,071
TOTAL ASSETS	4,893,730	4,738,919
CURRENT LIABILITIES:
Accounts payable	136,885	134,235
Accrued liabilities	122,466	143,357
Deferred revenue	457,799	396,259
Other current liabilities	69,382	94,392
Total current liabilities	786,532	768,243
Income taxes payable	55,314	53,053
Operating lease liabilities, non-current	67,770	72,397
Deferred revenue, non-current	262,232	254,568
Deferred tax liabilities, non-current	225,924	227,936
Other long-term liabilities	44,620	42,431
TOTAL LIABILITIES	1,442,392	1,418,628
Commitments and contingencies (Note 5)
STOCKHOLDERS’ EQUITY:
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	0	0
Common stock, $0.0001 par value—1,000,000 shares authorized as of March 31, 2021 and December 31, 2020; 76,257 and 76,174 shares issued and outstanding as of March 31, 2021 and December 31, 2020	8	8
Additional paid-in capital	1,345,569	1,292,431
Retained earnings	2,106,625	2,027,614
Accumulated other comprehensive income (loss)	(864)	238
TOTAL STOCKHOLDERS’ EQUITY	3,451,338	3,320,291
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 4,893,730	$ 4,738,919

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Rebates and allowances	$ 4,738	$ 4,497
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)	100,000,000	100,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	1,000,000,000	1,000,000,000
Common stock, shares issued (in shares)	76,257,000	76,174,000
Common stock, shares outstanding (in shares)	76,257,000	76,174,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Revenue:
Total revenue	$ 667,562	$ 523,029
Cost of revenue:
Total cost of revenue	242,290	184,778
Gross profit	425,272	338,251
Operating expenses:
Research and development	132,487	113,154
Sales and marketing	71,020	57,086
General and administrative	15,473	18,349
Total operating expenses	218,980	188,589
Income from operations	206,292	149,662
Other income, net	1,575	12,157
Income before income taxes	207,867	161,819
Provision for income taxes	27,501	23,388
Net income	$ 180,366	$ 138,431
Net income per share:
Basic (in dollars per share)	$ 2.36	$ 1.82
Diluted (in dollars per share)	$ 2.27	$ 1.73
Weighted-average shares used in computing net income per share:
Basic (in shares)	76,306	76,264
Diluted (in shares)	79,623	79,939
Product
Revenue:
Total revenue	$ 539,145	$ 410,906
Cost of revenue:
Total cost of revenue	218,433	163,629
Service
Revenue:
Total revenue	128,417	112,123
Cost of revenue:
Total cost of revenue	$ 23,857	$ 21,149

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Statement of Comprehensive Income [Abstract]
Net income	$ 180,366	$ 138,431
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	(541)	(2,739)
Net change in unrealized gains (losses) on available-for-sale securities	(561)	3,424
Other comprehensive income (loss)	(1,102)	685
Comprehensive income	$ 179,264	$ 139,116

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)
Beginning balance (in shares) at Dec. 31, 2019		76,389
Beginning balance at Dec. 31, 2019	$ 2,894,686	$ 8	$ 1,106,305	$ 1,788,230	$ 143
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	138,431			138,431
Other comprehensive loss, net of tax	685				685
Stock-based compensation	27,556		27,556
Issuance of common stock in connection with employee equity incentive plans (in shares)		482
Issuance of common stock in connection with employee equity incentive plans	17,082	$ 0	17,082
Tax withholding paid for net share settlement of equity awards (in shares)		(7)
Tax withholding paid for net share settlement of equity awards	(1,740)		(1,740)
Vesting of early-exercised stock options	21		21
Repurchase of common stock (in shares)		(1,209)
Repurchase of common stock	(227,895)			(227,895)
Ending balance (in shares) at Mar. 31, 2020		75,655
Ending balance at Mar. 31, 2020	2,848,826	$ 8	1,149,224	1,698,766	828
Beginning balance (in shares) at Dec. 31, 2020		76,174
Beginning balance at Dec. 31, 2020	3,320,291	$ 8	1,292,431	2,027,614	238
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	180,366			180,366
Other comprehensive loss, net of tax	(1,102)				(1,102)
Stock-based compensation	37,553		37,553
Issuance of common stock in connection with employee equity incentive plans (in shares)		459
Issuance of common stock in connection with employee equity incentive plans	18,081		18,081
Tax withholding paid for net share settlement of equity awards (in shares)		(9)
Tax withholding paid for net share settlement of equity awards	$ (2,496)		(2,496)
Repurchase of common stock (in shares)	(367)	(367)
Repurchase of common stock	$ (101,355)			(101,355)
Ending balance (in shares) at Mar. 31, 2021		76,257
Ending balance at Mar. 31, 2021	$ 3,451,338	$ 8	$ 1,345,569	$ 2,106,625	$ (864)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 180,366	$ 138,431
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, amortization and other	12,658	10,208
Stock-based compensation	37,553	27,556
Noncash lease expense	4,243	4,073
Deferred income taxes	1,425	457
Amortization of investment premiums	5,446	1,042
Changes in operating assets and liabilities:
Accounts receivable, net	9,074	46,329
Inventories	(3,500)	(17,691)
Prepaid expenses and other current assets	(15,272)	25,751
Other assets	(3,499)	3,946
Accounts payable	2,833	(6,386)
Accrued liabilities	(20,759)	(39,450)
Deferred revenue	69,204	21
Income taxes payable	(10,436)	3,982
Other liabilities	(14,661)	(3,422)
Net cash provided by operating activities	254,675	194,847
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from maturities of marketable securities	379,605	414,503
Purchases of marketable securities	(590,476)	(674,649)
Business acquisitions, net of cash acquired	0	(66,225)
Purchases of property and equipment	(5,096)	(3,107)
Escrow receipts from past business acquisitions	18	0
Purchases of investments in privately-held companies	(2,000)	0
Net cash used in investing activities	(217,949)	(329,478)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of common stock under equity plans	18,081	17,082
Tax withholding paid on behalf of employees for net share settlement	(2,496)	(1,740)
Repurchase of common stock	(101,355)	(227,895)
Net cash used in financing activities	(85,770)	(212,553)
Effect of exchange rate changes	(838)	(2,691)
NET DECREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	(49,882)	(349,875)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH —Beginning of period	897,454	1,115,515
CASH, CASH EQUIVALENTS AND RESTRICTED CASH —End of period	847,572	765,640
SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING AND FINANCING INFORMATION:
Property and equipment included in accounts payable and accrued liabilities	$ 1,529	$ 524

Organization and Summary of Sig

Organization and Summary of Significant Accounting Policies	3 Months Ended
Organization and Summary of Significant Accounting Policies	Mar. 31, 2021
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 a supplier of cloud networking solutions that use software innovations to address the needs of large-scale internet companies, cloud service providers and next-generation enterprises. Our cloud networking solutions consist of our Extensible Operating System ("EOS"), a set of network applications and our Gigabit 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 its 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 months ended March 31, 2021, are not necessarily indicative of the results expected for the full fiscal year. The condensed consolidated balance sheet as of December 31, 2020 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. 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, 2020, filed with the SEC on February 19, 2021. Use of Estimates The preparation of the condensed consolidated financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the amounts reported and disclosed in the condensed consolidated financial statements and accompanying notes. These estimates and assumptions include, but are not limited to, revenue recognition and deferred revenue; allowance for doubtful accounts, sales rebates and return reserves; valuation of goodwill and acquisition-related intangible assets, accounting for income taxes, including the valuation allowance on deferred tax assets and reserves for uncertain tax positions; estimate of useful lives of long-lived assets including intangible assets; valuation of inventory and contract manufacturer/supplier liabilities; and the recognition and measurement of contingent liabilities. We evaluate our estimates and assumptions based on historical experience and other factors and adjust those estimates and assumptions when facts and circumstances dictate. Actual results could differ materially from those estimates. Risks and Uncertainties The global coronavirus ("COVID-19") pandemic and resulting mitigation efforts by governments around the world to contain or slow its spread have negatively impacted the global economy, disrupted business, sales activities, global supply chains and workforce participation, including our own, and created significant volatility and disruption of financial markets. Our contract manufacturers and suppliers have experienced delays in component sourcing, production and export of their products, which have negatively impacted our supply chain and could negatively impact our business in the future. In addition, COVID-19 related disruptions may have a negative impact on demand from our customers in future periods. However, the extent of the impact of COVID-19 on our operational and financial performance, including our ability to execute our business strategies and initiatives in the expected time frame, and the impact of any initiatives and programs we may undertake to address financial and operational challenges, will depend on future developments, including the duration and spread of the pandemic and related mitigation efforts, the impact to our customers, partners, contract manufacturers and supply chain, as well as restrictions on travel and transport, all of which are uncertain and cannot be predicted. Management is actively monitoring the impact of the pandemic on the Company's financial condition, liquidity, operations, suppliers, industry, and workforce. As of the date of issuance of these condensed consolidated financial statements, the extent to which the COVID-19 pandemic may materially impact the Company's financial condition, liquidity, or results of operations is uncertain. Recently Adopted Accounting Pronouncements Income Taxes In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, which simplifies the accounting for incomes taxes by removing certain exceptions to the general principles in Topic 740 and amending existing guidance to improve consistent application. This new standard is effective for our interim and annual periods beginning January 1, 2021. Most amendments within this standard are required to be applied on a prospective basis, while certain amendments must be applied on a retrospective or modified retrospective basis. We adopted this new standard on January 1, 2021 with no material impact on our condensed consolidated financial statements.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
Fair Value Measurements	Mar. 31, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements We measure and report our cash equivalents, restricted cash, and available-for-sale marketable securities at fair value on a recurring basis. The following tables summarize the amortized costs, unrealized gains and losses and fair value of these financial assets by significant investment category and their levels within the fair value hierarchy (in thousands): March 31, 2021 Amortized Cost Unrealized Gains Unrealized Losses Fair Value Level I Level II Level III Financial Assets: Cash Equivalents: Money market funds $ 379,345 $ — $ — $ 379,345 $ 379,345 $ — $ — Marketable Securities: Commercial paper 46,658 — — 46,658 — 46,658 — Certificate of deposits (1) 80,069 — — 80,069 — 80,069 — U.S. government notes 661,366 190 (38) 661,518 661,518 — — Corporate bonds 972,063 709 (522) 972,250 — 972,250 — Agency securities 423,551 287 (3) 423,835 — 423,835 — 2,183,707 1,186 (563) 2,184,330 661,518 1,522,812 — Other Assets: Money market funds - restricted 4,236 — — 4,236 4,236 — — Total Financial Assets $ 2,567,288 $ 1,186 $ (563) $ 2,567,911 $ 1,045,099 $ 1,522,812 $ — December 31, 2020 Amortized Cost Unrealized Gains Unrealized Losses Fair Value Level I Level II Level III Financial Assets: Cash Equivalents: Money market funds $ 438,854 $ — $ — $ 438,854 $ 438,854 $ — $ — Marketable Securities: Commercial paper 51,211 — — 51,211 — 51,211 — Certificate of deposits (1) 50,136 3 — 50,139 — 50,139 — U.S. government notes 523,320 187 (1) 523,506 523,506 — — Corporate bonds 878,484 1,167 (330) 879,321 — 879,321 — Agency securities 475,132 343 (3) 475,472 — 475,472 — 1,978,283 1,700 (334) 1,979,649 523,506 1,456,143 — Other Assets: Money market funds - restricted 4,235 — — 4,235 4,235 — — Total Financial Assets $ 2,421,372 $ 1,700 $ (334) $ 2,422,738 $ 966,595 $ 1,456,143 $ — ______________________ (1) As of March 31, 2021 and December 31, 2020, all of our certificates of deposits were domestic deposits. As of March 31, 2021 and December 31, 2020, total unrealized losses of our marketable securities were immaterial. We invest in marketable securities that have maximum maturities of up to two 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 marketable securities, the more susceptible they are to changes in market interest rates and bond yields. We expect to realize the full value of these investments upon maturity or sale and therefore, we do not consider any of our marketable securities to be impaired as of March 31, 2021. We did not recognize any credit losses or non-credit-related impairments related to our available-for-sale marketable securities for the quarter ended March 31, 2021. As of March 31, 2021, the contractual maturities of our investments did not exceed 24 months. The fair values of available-for-sale marketable securities, by remaining contractual maturity, are as follows (in thousands): March 31, 2021 Due in 1 year or less $ 1,246,986 Due in 1 to 2 years 937,344 Total marketable securities $ 2,184,330

Financial Statements Details

Financial Statements Details	3 Months Ended
Financial Statements Details	Mar. 31, 2021
Balance Sheet Components [Abstract]
Financial Statements Details	Financial Statements Details Cash, Cash Equivalents and Restricted Cash The reconciliation of cash, cash equivalents and restricted cash reported in the accompanying unaudited condensed consolidated balance sheets to the total of the same such amounts in the accompanying unaudited condensed consolidated statements of cash flows is as follows (in thousands): March 31, 2021 December 31, 2020 Cash and cash equivalents $ 843,336 $ 893,219 Restricted cash included in other assets 4,236 4,235 Total cash, cash equivalents and restricted cash $ 847,572 $ 897,454 Accounts Receivable, net Accounts receivable, net consists of the following (in thousands): March 31, 2021 December 31, 2020 Accounts receivable $ 385,204 $ 394,037 Allowance for doubtful accounts (549) (659) Product sales rebate and returns reserve (4,189) (3,838) Accounts receivable, net $ 380,466 $ 389,540 Inventories Inventories consist of the following (in thousands): March 31, 2021 December 31, 2020 Raw materials $ 234,941 $ 219,218 Finished goods 248,227 260,450 Total inventories $ 483,168 $ 479,668 Prepaid Expenses and Other Current Assets Prepaid expenses and other current assets consist of the following (in thousands): March 31, 2021 December 31, 2020 Inventory deposit $ 21,478 $ 18,783 Prepaid income taxes 3,612 267 Other current assets 69,790 60,556 Other prepaid expenses and deposits 16,715 15,316 Total prepaid expenses and other current assets $ 111,595 $ 94,922 Property and Equipment, net Property and equipment, net consists of the following (in thousands): March 31, 2021 December 31, 2020 Equipment and machinery $ 74,401 $ 70,655 Computer hardware and software 42,201 40,081 Furniture and fixtures 3,793 3,787 Leasehold improvements 31,499 31,448 Construction-in-process 470 1,441 Property and equipment, gross 152,364 147,412 Less: accumulated depreciation (119,902) (115,181) Property and equipment, net $ 32,462 $ 32,231 Depreciation expense was $4.9 million and $5.2 million for the three months ended March 31, 2021 and 2020, respectively. Accrued Liabilities Accrued liabilities consist of the following (in thousands): March 31, 2021 December 31, 2020 Accrued payroll related costs $ 42,670 $ 73,634 Accrued manufacturing costs 43,420 43,181 Accrued product development costs 15,084 6,733 Accrued warranty costs 10,043 9,314 Other 11,249 10,495 Total accrued liabilities $ 122,466 $ 143,357 Warranty Accrual The following table summarizes the activity related to our accrued liability for estimated future warranty costs (in thousands): Three Months Ended March 31, 2021 2020 Warranty accrual, beginning of period $ 9,314 $ 6,742 Liabilities accrued for warranties issued during the period 3,456 1,070 Warranty costs incurred during the period (2,727) (1,471) Warranty accrual, end of period $ 10,043 $ 6,341 Contract Assets The following table summarizes the beginning and ending balances of our contract assets (in thousands): Three Months Ended March 31, 2021 2020 Contract assets, beginning balance $ 16,380 $ 25,565 Contract assets, ending balance 9,762 9,636 Contract Liabilities, Deferred Revenue and Other Performance Obligations 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 thousands): Three Months Ended March 31, 2021 2020 Contract liabilities, beginning balance $ 85,957 $ 61,050 Less: Revenue recognized from beginning balance (7,913) (4,847) Less: Beginning balance reclassified to deferred revenue (12,492) (2,433) Add: Contract liabilities recognized 14,913 10,555 Contract liabilities, ending balance $ 80,465 $ 64,325 As of March 31, 2021 and December 31, 2020, $35.9 million and $34.5 million, respectively, of our contract liabilities were recorded within other current liabilities with the remaining balance recorded within other long-term liabilities in the accompanying unaudited condensed consolidated balance sheets. Deferred revenue is comprised mainly of unearned revenue related to multi-year post-contract support ("PCS") contracts, services and product deferrals related to acceptance clauses. The following table summarizes the activity related to our deferred revenue (in thousands): Three Months Ended March 31, 2021 2020 Deferred revenue, beginning balance $ 650,827 $ 575,288 Less: Revenue recognized from beginning balance (107,442) (100,377) Add: Deferral of revenue in current period, excluding amounts recognized during the period 176,646 121,864 Deferred revenue, ending balance $ 720,031 $ 596,775 As of March 31, 2021, other performance obligations of $171.7 million were comprised mainly of unbilled multi-year PCS contract amounts that will be recognized as revenue in future periods. Revenue from Total Remaining Performance Obligations Revenue from total remaining performance obligations represents contract liabilities, deferred revenue and unbilled contract revenue that will be recognized in future periods. As of March 31, 2021, approximately $972.2 million of revenue is expected to be recognized from total remaining performance obligations. We expect to recognize revenue on approximately 80% of these remaining performance obligations over the next two years and 20% during years 3 to 5. Other Income, net Other income, net consists of the following (in thousands): Three Months Ended March 31, 2021 2020 Interest income $ 2,045 $ 11,662 Other income (expense), net (470) 495 Total $ 1,575 $ 12,157

Investments

Investments	3 Months Ended
Investments	Mar. 31, 2021
Investments in privately-held companies [Abstract]
Investments	Investments Investments in Privately-Held Companies Our investments in privately-held companies do not have readily determinable fair values. Their initial cost is adjusted to fair value on a non-recurring basis based on observable price changes from orderly transactions of identical or similar securities of the same issuer, or for impairment. These investments are classified within Level III of the fair value hierarchy as we estimate the value based on valuation methods using the observable transaction price at the transaction date and other significant unobservable inputs, such as volatility, rights, and obligations related to these securities. In addition, the valuation requires management judgment due to the absence of market price and lack of liquidity. The following table summarizes the activity related to our investments in privately-held companies as of March 31, 2021 and December 31, 2020 (in thousands): March 31, 2021 December 31, 2020 Cost of investments $ 5,000 $ 3,000 Cumulative impairment — — Cumulative upward adjustment 5,314 5,314 Carrying amount of investments $ 10,314 $ 8,314

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Mar. 31, 2021
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 our purchase orders to our contract manufacturers for finished products consists 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 March 31, 2021, we had non-cancellable purchase commitments of $747.6 million, of which $712.7 million were to our contract manufacturers and suppliers. In addition, we had deposits to our contract manufacturers to secure our purchase commitments in the amount of $24.2 million and $21.5 million as of March 31, 2021 and December 31, 2020, respectively, which were included within prepaid expenses and other current assets and other assets on the unaudited condensed consolidated balance sheets. 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 WSOU Investments, LLC On November 25, 2020, WSOU Investments LLC ("WSOU") filed a lawsuit against us in the Western District of Texas asserting that certain of our products infringe three WSOU patents. WSOU's allegations are directed to certain features of our wireless and switching products. WSOU seeks remedies including monetary damages, attorney's fees and costs. On February 4, 2021, we filed an answer denying WSOU's allegations. We intend to vigorously defend against the claims brought against us by WSOU. However, we cannot be certain that any of WSOU's claims will be resolved in our favor, regardless of the merits of those claims. Any adverse litigation ruling could result in a significant damages award against us and injunctive relief. With respect to the legal proceedings described above, it is our belief that while a loss is not probable, it may be reasonably possible. Further, at this stage in the litigation, any possible loss or range of loss cannot be estimated. However, the outcome of litigation is inherently uncertain. Therefore, if this legal matter were resolved against us in a reporting period for a material amount, our consolidated financial statements for that reporting period could be materially adversely affected. Other matters In the ordinary course of business, we are a party to other claims and legal proceedings including matters relating to commercial, employee relations, business practices and intellectual property. 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 March 31, 2021, 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.

Stockholders_ Equity and Stock-

Stockholders’ Equity and Stock-Based Compensation	3 Months Ended
Stockholders’ Equity and Stock-Based Compensation	Mar. 31, 2021
Share-based Payment Arrangement [Abstract]
Shareholders' Equity and Share-based Payments	Stockholders’ Equity and Stock-Based Compensation Stock Repurchase Program In April 2019, our board of directors authorized a $1.0 billion stock repurchase program (the "Repurchase Program"). This authorization allows us to repurchase shares of our common stock and is 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 Repurchase Program, which expires in April 2022, does not obligate us to acquire any of our common stock, and may be suspended or discontinued by us at any time without prior notice. As of March 31, 2021, the remaining authorized amount for stock repurchases under this program was approximately $237.3 million. A summary of the stock repurchase activity under the Repurchase Program is as follows (in thousands, except per share amounts): Three Months Ended March 31, 2021 Aggregate purchase price $ 101,355 Shares repurchased 367 Average price paid per share $ 275.88 The aggregate purchase price of repurchased shares of our common stock is recorded as a reduction to retained earnings and common stock in our condensed consolidated statements of stockholders' equity. All shares repurchased under the Repurchase Program have been retired. Equity Award Plan Activities 2014 Equity Incentive Plan The 2014 Equity Incentive Plan (the “2014 plan”) provides for the granting of Incentive Stock Options (“ISOs”), Nonstatutory Stock Options (“NSOs”), Restricted Stock Units (“RSUs”), Restricted Stock Awards (“RSAs”) or Stock Appreciation Rights (“SARs”). The number of shares available for grant and issuance under the 2014 Plan increases automatically on January 1 of each year by the lesser of (i) 12,500,000 shares, (ii) 3% of the outstanding shares of our common stock on the last day of our immediately preceding fiscal year, or (iii) such other amount as determined by our board of directors. Effective January 1, 2021, our board of directors authorized an increase of 2,285,228 shares to the shares available for issuance under the 2014 Plan. As of March 31, 2021, there remained approximately 23.4 million shares available for issuance under the 2014 Plan. 2014 Employee Stock Purchase Plan Effective January 1, 2021, our board of directors authorized an increase of 761,742 shares to the shares available for issuance under our 2014 Employee Stock Purchase Plan (the “ESPP”). Pursuant to the ESPP, the 2021 share increase was determined based on the lesser of 1% of the total shares of common stock outstanding on December 31, 2020, 2,500,000 shares, or such amount as determined by our board of directors. During the three months ended March 31, 2021, we issued 56,326 shares at a weighted-average purchase price of $182.76 per share under the ESPP. As of March 31, 2021, there remained 4.6 million shares available for issuance under the ESPP. Stock Option Activities The following table summarizes the option activity under our stock plans and related information (in thousands, except years and per share amounts): Options Outstanding Number of Weighted- Weighted- Aggregate Balance—December 31, 2020 3,430 $ 45.17 3.6 $ 841,659 Options granted — — Options exercised (263) 29.57 Options canceled (12) 36.08 Balance—March 31, 2021 3,155 $ 46.51 3.4 $ 805,597 Vested and exercisable—March 31, 2021 2,169 $ 34.55 3.0 $ 579,805 Restricted Stock Unit (RSU) Activities A summary of the RSU activity is presented below (in thousands, except years and per share amounts): Number of Weighted- Weighted-Average Aggregate Intrinsic Value Unvested balance—December 31, 2020 1,816 $ 215.68 1.8 $ 527,574 RSUs granted 176 310.32 RSUs vested (139) 199.41 RSUs forfeited/canceled (46) 225.87 Unvested balance—March 31, 2021 1,807 $ 225.88 1.7 $ 545,194 In the quarter ended March 31, 2021, we granted 69,620 performance-based RSUs (“PRSUs”) to our CEO and other key employees that include both service and performance-based conditions. These PRSUs will vest over the next three Stock-Based Compensation Expense The following table summarizes the stock-based compensation expense related to our equity awards (in thousands): Three Months Ended March 31, 2021 2020 Cost of revenue $ 1,400 $ 1,327 Research and development 21,982 15,928 Sales and marketing 10,085 6,396 General and administrative 4,086 3,905 Total stock-based compensation $ 37,553 $ 27,556

Net Income Per Share

Net Income Per Share	3 Months Ended
Net Income Per Share	Mar. 31, 2021
Earnings Per Share [Abstract]
Net Income Per Share	Net Income Per Share The following table sets forth the computation of our basic and diluted net income per share (in thousands, except per share amounts): Three Months Ended March 31, 2021 2020 Numerator: Net income $ 180,366 $ 138,431 Denominator: Weighted-average shares used in computing net income per share, basic 76,306 76,264 Add weighted-average effect of dilutive securities: Stock options and RSUs 3,279 3,675 Employee stock purchase plan 38 — Weighted-average shares used in computing net income per share, diluted 79,623 79,939 Net income per share: Basic $ 2.36 $ 1.82 Diluted $ 2.27 $ 1.73 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 thousands): Three Months Ended March 31, 2021 2020 Stock options and RSUs 130 601 Employee stock purchase plan 10 — Total 140 601

Income Taxes

Income Taxes	3 Months Ended
Income Taxes	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Three Months Ended March 31, 2021 2020 (in thousands, except percentages) Income before income taxes $ 207,867 $ 161,819 Provision for income taxes 27,501 23,388 Effective tax rate 13.2 % 14.5 %

Geographical Information

Geographical Information	3 Months Ended
Geographical Information	Mar. 31, 2021
Segment Reporting [Abstract]
Geographical Information	Geographical Information We operate as one reportable segment. The following table represents revenue based on customers’ shipping addresses (in thousands): Three Months Ended March 31, 2021 2020 Americas $ 501,872 $ 400,660 Europe, Middle East and Africa 96,274 72,624 Asia-Pacific 69,416 49,745 Total revenue $ 667,562 $ 523,029 Long-lived assets, excluding intercompany receivables, investments in subsidiaries, privately-held equity investments and deferred tax assets, net by location are summarized as follows (in thousands): March 31, 2021 December 31, 2020 United States $ 23,851 $ 24,110 International 8,611 8,121 Total $ 32,462 $ 32,231

Organization and Summary of S_2

Organization and Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2021
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 its 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 months ended March 31, 2021, are not necessarily indicative of the results expected for the full fiscal year. The condensed consolidated balance sheet as of December 31, 2020 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.
Use of Estimates	Use of Estimates The preparation of the condensed consolidated financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the amounts reported and disclosed in the condensed consolidated financial statements and accompanying notes. These estimates and assumptions include, but are not limited to, revenue recognition and deferred revenue; allowance for doubtful accounts, sales rebates and return reserves; valuation of goodwill and acquisition-related intangible assets, accounting for income taxes, including the valuation allowance on deferred tax assets and reserves for uncertain tax positions; estimate of useful lives of long-lived assets including intangible assets; valuation of inventory and contract manufacturer/supplier liabilities; and the recognition and measurement of contingent liabilities. We evaluate our estimates and assumptions based on historical experience and other factors and adjust those estimates and assumptions when facts and circumstances dictate. Actual results could differ materially from those estimates.
Risks and Uncertainties	Risks and Uncertainties The global coronavirus ("COVID-19") pandemic and resulting mitigation efforts by governments around the world to contain or slow its spread have negatively impacted the global economy, disrupted business, sales activities, global supply chains and workforce participation, including our own, and created significant volatility and disruption of financial markets. Our contract manufacturers and suppliers have experienced delays in component sourcing, production and export of their products, which have negatively impacted our supply chain and could negatively impact our business in the future. In addition, COVID-19 related disruptions may have a negative impact on demand from our customers in future periods. However, the extent of the impact of COVID-19 on our operational and financial performance, including our ability to execute our business strategies and initiatives in the expected time frame, and the impact of any initiatives and programs we may undertake to address financial and operational challenges, will depend on future developments, including the duration and spread of the pandemic and related mitigation efforts, the impact to our customers, partners, contract manufacturers and supply chain, as well as restrictions on travel and transport, all of which are uncertain and cannot be predicted. Management is actively monitoring the impact of the pandemic on the Company's financial condition, liquidity, operations, suppliers, industry, and workforce. As of the date of issuance of these condensed consolidated financial statements, the extent to which the COVID-19 pandemic may materially impact the Company's financial condition, liquidity, or results of operations is uncertain.
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements Income Taxes In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, which simplifies the accounting for incomes taxes by removing certain exceptions to the general principles in Topic 740 and amending existing guidance to improve consistent application. This new standard is effective for our interim and annual periods beginning January 1, 2021. Most amendments within this standard are required to be applied on a prospective basis, while certain amendments must be applied on a retrospective or modified retrospective basis. We adopted this new standard on January 1, 2021 with no material impact on our condensed consolidated financial statements.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
Fair Value Measurements (Tables)	Mar. 31, 2021
Fair Value Disclosures [Abstract]
Summary of Fair Value of Financial Assets by Level	The following tables summarize the amortized costs, unrealized gains and losses and fair value of these financial assets by significant investment category and their levels within the fair value hierarchy (in thousands): March 31, 2021 Amortized Cost Unrealized Gains Unrealized Losses Fair Value Level I Level II Level III Financial Assets: Cash Equivalents: Money market funds $ 379,345 $ — $ — $ 379,345 $ 379,345 $ — $ — Marketable Securities: Commercial paper 46,658 — — 46,658 — 46,658 — Certificate of deposits (1) 80,069 — — 80,069 — 80,069 — U.S. government notes 661,366 190 (38) 661,518 661,518 — — Corporate bonds 972,063 709 (522) 972,250 — 972,250 — Agency securities 423,551 287 (3) 423,835 — 423,835 — 2,183,707 1,186 (563) 2,184,330 661,518 1,522,812 — Other Assets: Money market funds - restricted 4,236 — — 4,236 4,236 — — Total Financial Assets $ 2,567,288 $ 1,186 $ (563) $ 2,567,911 $ 1,045,099 $ 1,522,812 $ — December 31, 2020 Amortized Cost Unrealized Gains Unrealized Losses Fair Value Level I Level II Level III Financial Assets: Cash Equivalents: Money market funds $ 438,854 $ — $ — $ 438,854 $ 438,854 $ — $ — Marketable Securities: Commercial paper 51,211 — — 51,211 — 51,211 — Certificate of deposits (1) 50,136 3 — 50,139 — 50,139 — U.S. government notes 523,320 187 (1) 523,506 523,506 — — Corporate bonds 878,484 1,167 (330) 879,321 — 879,321 — Agency securities 475,132 343 (3) 475,472 — 475,472 — 1,978,283 1,700 (334) 1,979,649 523,506 1,456,143 — Other Assets: Money market funds - restricted 4,235 — — 4,235 4,235 — — Total Financial Assets $ 2,421,372 $ 1,700 $ (334) $ 2,422,738 $ 966,595 $ 1,456,143 $ — ______________________ (1) As of March 31, 2021 and December 31, 2020, all of our certificates of deposits were domestic deposits.
Fair Value of Available-For-Sale Investments By Contractual Maturity	The fair values of available-for-sale marketable securities, by remaining contractual maturity, are as follows (in thousands): March 31, 2021 Due in 1 year or less $ 1,246,986 Due in 1 to 2 years 937,344 Total marketable securities $ 2,184,330

Financial Statements Details (T

Financial Statements Details (Tables)	3 Months Ended
Financial Statements Details (Tables)	Mar. 31, 2021
Balance Sheet Components [Abstract]
Schedule of Cash, Cash Equivalents and Restricted Cash	The reconciliation of cash, cash equivalents and restricted cash reported in the accompanying unaudited condensed consolidated balance sheets to the total of the same such amounts in the accompanying unaudited condensed consolidated statements of cash flows is as follows (in thousands): March 31, 2021 December 31, 2020 Cash and cash equivalents $ 843,336 $ 893,219 Restricted cash included in other assets 4,236 4,235 Total cash, cash equivalents and restricted cash $ 847,572 $ 897,454
Schedule of Accounts Receivable, Net	Accounts receivable, net consists of the following (in thousands): March 31, 2021 December 31, 2020 Accounts receivable $ 385,204 $ 394,037 Allowance for doubtful accounts (549) (659) Product sales rebate and returns reserve (4,189) (3,838) Accounts receivable, net $ 380,466 $ 389,540
Schedule of Inventories	Inventories consist of the following (in thousands): March 31, 2021 December 31, 2020 Raw materials $ 234,941 $ 219,218 Finished goods 248,227 260,450 Total inventories $ 483,168 $ 479,668
Schedule of Prepaid Expenses and Other Current Assets	Prepaid expenses and other current assets consist of the following (in thousands): March 31, 2021 December 31, 2020 Inventory deposit $ 21,478 $ 18,783 Prepaid income taxes 3,612 267 Other current assets 69,790 60,556 Other prepaid expenses and deposits 16,715 15,316 Total prepaid expenses and other current assets $ 111,595 $ 94,922
Schedule of Property and Equipment, Net	Property and equipment, net consists of the following (in thousands): March 31, 2021 December 31, 2020 Equipment and machinery $ 74,401 $ 70,655 Computer hardware and software 42,201 40,081 Furniture and fixtures 3,793 3,787 Leasehold improvements 31,499 31,448 Construction-in-process 470 1,441 Property and equipment, gross 152,364 147,412 Less: accumulated depreciation (119,902) (115,181) Property and equipment, net $ 32,462 $ 32,231
Schedule of Accrued Liabilities	Accrued liabilities consist of the following (in thousands): March 31, 2021 December 31, 2020 Accrued payroll related costs $ 42,670 $ 73,634 Accrued manufacturing costs 43,420 43,181 Accrued product development costs 15,084 6,733 Accrued warranty costs 10,043 9,314 Other 11,249 10,495 Total accrued liabilities $ 122,466 $ 143,357
Schedule of Warranty Accrual	The following table summarizes the activity related to our accrued liability for estimated future warranty costs (in thousands): Three Months Ended March 31, 2021 2020 Warranty accrual, beginning of period $ 9,314 $ 6,742 Liabilities accrued for warranties issued during the period 3,456 1,070 Warranty costs incurred during the period (2,727) (1,471) Warranty accrual, end of period $ 10,043 $ 6,341
Schedule of Contract Balances	The following table summarizes the beginning and ending balances of our contract assets (in thousands): Three Months Ended March 31, 2021 2020 Contract assets, beginning balance $ 16,380 $ 25,565 Contract assets, ending balance 9,762 9,636 Contract Liabilities, Deferred Revenue and Other Performance Obligations 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 thousands): Three Months Ended March 31, 2021 2020 Contract liabilities, beginning balance $ 85,957 $ 61,050 Less: Revenue recognized from beginning balance (7,913) (4,847) Less: Beginning balance reclassified to deferred revenue (12,492) (2,433) Add: Contract liabilities recognized 14,913 10,555 Contract liabilities, ending balance $ 80,465 $ 64,325
Schedule of Deferred Revenue	Deferred revenue is comprised mainly of unearned revenue related to multi-year post-contract support ("PCS") contracts, services and product deferrals related to acceptance clauses. The following table summarizes the activity related to our deferred revenue (in thousands): Three Months Ended March 31, 2021 2020 Deferred revenue, beginning balance $ 650,827 $ 575,288 Less: Revenue recognized from beginning balance (107,442) (100,377) Add: Deferral of revenue in current period, excluding amounts recognized during the period 176,646 121,864 Deferred revenue, ending balance $ 720,031 $ 596,775
Schedule of Other Income (Expense), Net	Other income, net consists of the following (in thousands): Three Months Ended March 31, 2021 2020 Interest income $ 2,045 $ 11,662 Other income (expense), net (470) 495 Total $ 1,575 $ 12,157

Investments (Tables)

Investments (Tables)	3 Months Ended
Investments (Tables)	Mar. 31, 2021
Investments in privately-held companies [Abstract]
Equity Securities without Readily Determinable Fair Value	The following table summarizes the activity related to our investments in privately-held companies as of March 31, 2021 and December 31, 2020 (in thousands): March 31, 2021 December 31, 2020 Cost of investments $ 5,000 $ 3,000 Cumulative impairment — — Cumulative upward adjustment 5,314 5,314 Carrying amount of investments $ 10,314 $ 8,314

Stockholders_ Equity and Stoc_2

Stockholders’ Equity and Stock-Based Compensation (Tables)	3 Months Ended
Stockholders’ Equity and Stock-Based Compensation (Tables)	Mar. 31, 2021
Share-based Payment Arrangement [Abstract]
Schedule of Shares Repurchased	A summary of the stock repurchase activity under the Repurchase Program is as follows (in thousands, except per share amounts): Three Months Ended March 31, 2021 Aggregate purchase price $ 101,355 Shares repurchased 367 Average price paid per share $ 275.88
Schedule of Option Activity	The following table summarizes the option activity under our stock plans and related information (in thousands, except years and per share amounts): Options Outstanding Number of Weighted- Weighted- Aggregate Balance—December 31, 2020 3,430 $ 45.17 3.6 $ 841,659 Options granted — — Options exercised (263) 29.57 Options canceled (12) 36.08 Balance—March 31, 2021 3,155 $ 46.51 3.4 $ 805,597 Vested and exercisable—March 31, 2021 2,169 $ 34.55 3.0 $ 579,805
Schedule of Restricted Stock Units Activity	A summary of the RSU activity is presented below (in thousands, except years and per share amounts): Number of Weighted- Weighted-Average Aggregate Intrinsic Value Unvested balance—December 31, 2020 1,816 $ 215.68 1.8 $ 527,574 RSUs granted 176 310.32 RSUs vested (139) 199.41 RSUs forfeited/canceled (46) 225.87 Unvested balance—March 31, 2021 1,807 $ 225.88 1.7 $ 545,194
Schedule of Stock-Based Compensation Expense	The following table summarizes the stock-based compensation expense related to our equity awards (in thousands): Three Months Ended March 31, 2021 2020 Cost of revenue $ 1,400 $ 1,327 Research and development 21,982 15,928 Sales and marketing 10,085 6,396 General and administrative 4,086 3,905 Total stock-based compensation $ 37,553 $ 27,556

Net Income Per Share (Tables)

Net Income Per Share (Tables)	3 Months Ended
Net Income Per Share (Tables)	Mar. 31, 2021
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 thousands, except per share amounts): Three Months Ended March 31, 2021 2020 Numerator: Net income $ 180,366 $ 138,431 Denominator: Weighted-average shares used in computing net income per share, basic 76,306 76,264 Add weighted-average effect of dilutive securities: Stock options and RSUs 3,279 3,675 Employee stock purchase plan 38 — Weighted-average shares used in computing net income per share, diluted 79,623 79,939 Net income per share: Basic $ 2.36 $ 1.82 Diluted $ 2.27 $ 1.73
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 thousands): Three Months Ended March 31, 2021 2020 Stock options and RSUs 130 601 Employee stock purchase plan 10 — Total 140 601

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
Income Taxes (Tables)	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Schedule of Income Tax Expense (Benefit)	Three Months Ended March 31, 2021 2020 (in thousands, except percentages) Income before income taxes $ 207,867 $ 161,819 Provision for income taxes 27,501 23,388 Effective tax rate 13.2 % 14.5 %

Geographical Information (Table

Geographical Information (Tables)	3 Months Ended
Geographical Information (Tables)	Mar. 31, 2021
Segment Reporting [Abstract]
Schedule of Revenue and Long Lived Assets, by Location	The following table represents revenue based on customers’ shipping addresses (in thousands): Three Months Ended March 31, 2021 2020 Americas $ 501,872 $ 400,660 Europe, Middle East and Africa 96,274 72,624 Asia-Pacific 69,416 49,745 Total revenue $ 667,562 $ 523,029 Long-lived assets, excluding intercompany receivables, investments in subsidiaries, privately-held equity investments and deferred tax assets, net by location are summarized as follows (in thousands): March 31, 2021 December 31, 2020 United States $ 23,851 $ 24,110 International 8,611 8,121 Total $ 32,462 $ 32,231

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Fair Value of Financial Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable Securities, Amortized Cost	$ 2,183,707	$ 1,978,283
Marketable Securities, Unrealized Gains	1,186	1,700
Marketable Securities, Unrealized Losses	(563)	(334)
Marketable Securities, Fair Value	2,184,330	1,979,649
Total Financial Assets, Amortized Cost	2,567,288	2,421,372
Total Financial Assets, Fair Value	2,567,911	2,422,738
Level I
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable Securities, Fair Value	661,518	523,506
Total Financial Assets, Fair Value	1,045,099	966,595
Level II
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable Securities, Fair Value	1,522,812	1,456,143
Total Financial Assets, Fair Value	1,522,812	1,456,143
Level III
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable Securities, Fair Value	0	0
Total Financial Assets, Fair Value	0	0
Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents, Amortized Cost	379,345	438,854
Cash Equivalents, Fair Value	379,345	438,854
Money market funds \| Level I
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents, Fair Value	379,345	438,854
Money market funds \| Level II
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents, Fair Value	0	0
Money market funds \| Level III
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents, Fair Value	0	0
Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable Securities, Amortized Cost	46,658	51,211
Marketable Securities, Unrealized Gains	0	0
Marketable Securities, Unrealized Losses	0	0
Marketable Securities, Fair Value	46,658	51,211
Commercial paper \| Level I
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable Securities, Fair Value	0	0
Commercial paper \| Level II
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable Securities, Fair Value	46,658	51,211
Commercial paper \| Level III
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable Securities, Fair Value	0	0
Certificate of deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable Securities, Amortized Cost	80,069	50,136
Marketable Securities, Unrealized Gains	0	3
Marketable Securities, Unrealized Losses	0	0
Marketable Securities, Fair Value	80,069	50,139
Certificate of deposits \| Level I
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable Securities, Fair Value	0	0
Certificate of deposits \| Level II
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable Securities, Fair Value	80,069	50,139
Certificate of deposits \| Level III
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable Securities, Fair Value	0	0
U.S. government notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable Securities, Amortized Cost	661,366	523,320
Marketable Securities, Unrealized Gains	190	187
Marketable Securities, Unrealized Losses	(38)	(1)
Marketable Securities, Fair Value	661,518	523,506
U.S. government notes \| Level I
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable Securities, Fair Value	661,518	523,506
U.S. government notes \| Level II
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable Securities, Fair Value	0	0
U.S. government notes \| Level III
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable Securities, Fair Value	0	0
Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable Securities, Amortized Cost	972,063	878,484
Marketable Securities, Unrealized Gains	709	1,167
Marketable Securities, Unrealized Losses	(522)	(330)
Marketable Securities, Fair Value	972,250	879,321
Corporate bonds \| Level I
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable Securities, Fair Value	0	0
Corporate bonds \| Level II
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable Securities, Fair Value	972,250	879,321
Corporate bonds \| Level III
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable Securities, Fair Value	0	0
Agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable Securities, Amortized Cost	423,551	475,132
Marketable Securities, Unrealized Gains	287	343
Marketable Securities, Unrealized Losses	(3)	(3)
Marketable Securities, Fair Value	423,835	475,472
Agency securities \| Level I
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable Securities, Fair Value	0	0
Agency securities \| Level II
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable Securities, Fair Value	423,835	475,472
Agency securities \| Level III
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable Securities, Fair Value	0	0
Money market funds - restricted
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other Assets, Amortized Cost	4,236	4,235
Other Assets, Fair Value	4,236	4,235
Money market funds - restricted \| Level I
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other Assets, Fair Value	4,236	4,235
Money market funds - restricted \| Level II
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other Assets, Fair Value	0	0
Money market funds - restricted \| Level III
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other Assets, Fair Value	$ 0	$ 0

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details)	3 Months Ended
Fair Value Measurements - Narrative (Details)	Mar. 31, 2021
Fair Value Disclosures [Abstract]
Marketable securities, maximum maturity period	24 months
Marketable securities, weighted average remaining duration	10 months 24 days

Fair Value Measurements - Inves

Fair Value Measurements - Investment by Maturity Dates (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Due in 1 year or less	$ 1,246,986
Due in 1 to 2 years	937,344
Total marketable securities	$ 2,184,330	$ 1,979,649

Financial Statements Details -

Financial Statements Details - Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019
Balance Sheet Components [Abstract]
Cash and cash equivalents	$ 843,336	$ 893,219
Restricted cash included in other assets	4,236	4,235
Total cash, cash equivalents and restricted cash	$ 847,572	$ 897,454	$ 765,640	$ 1,115,515

Financial Statements Details _2

Financial Statements Details - Accounts Receivable, Net (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Balance Sheet Components [Abstract]
Accounts receivable	$ 385,204	$ 394,037
Allowance for doubtful accounts	(549)	(659)
Product sales rebate and returns reserve	(4,189)	(3,838)
Accounts receivable, net	$ 380,466	$ 389,540

Financial Statements Details _3

Financial Statements Details - Inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Balance Sheet Components [Abstract]
Raw materials	$ 234,941	$ 219,218
Finished goods	248,227	260,450
Total inventories	$ 483,168	$ 479,668

Financial Statements Details _4

Financial Statements Details - Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Balance Sheet Components [Abstract]
Inventory deposit	$ 21,478	$ 18,783
Prepaid income taxes	3,612	267
Other current assets	69,790	60,556
Other prepaid expenses and deposits	16,715	15,316
Total prepaid expenses and other current assets	$ 111,595	$ 94,922

Financial Statements Details _5

Financial Statements Details - Property and Equipment, Net (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 152,364		$ 147,412
Less: accumulated depreciation	(119,902)		(115,181)
Property and equipment, net	32,462		32,231
Depreciation	4,900	$ 5,200
Equipment and machinery
Property, Plant and Equipment [Line Items]
Property and equipment, gross	74,401		70,655
Computer hardware and software
Property, Plant and Equipment [Line Items]
Property and equipment, gross	42,201		40,081
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property and equipment, gross	3,793		3,787
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	31,499		31,448
Construction-in-process
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 470		$ 1,441

Financial Statements Details _6

Financial Statements Details - Accrued Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019
Balance Sheet Components [Abstract]
Accrued payroll related costs	$ 42,670	$ 73,634
Accrued manufacturing costs	43,420	43,181
Accrued product development costs	15,084	6,733
Accrued warranty costs	10,043	9,314	$ 6,341	$ 6,742
Other	11,249	10,495
Total accrued liabilities	$ 122,466	$ 143,357

Financial Statements Details _7

Financial Statements Details - Warranty Accrual (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Warranty [Roll Forward]
Warranty accrual, beginning of period	$ 9,314	$ 6,742
Liabilities accrued for warranties issued during the period	3,456	1,070
Warranty costs incurred during the period	(2,727)	(1,471)
Warranty accrual, end of period	$ 10,043	$ 6,341

Financial Statements Details _8

Financial Statements Details - Contract Balances (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Change in Contract with Customer, Asset [Roll Forward]
Contract assets, beginning balance	$ 16,380	$ 25,565
Contract assets, ending balance	9,762	9,636
Change in Contract with Customer, Liability [Roll Forward]
Contract liabilities, beginning balance	85,957	61,050
Less: Revenue recognized from beginning balance	(7,913)	(4,847)
Less: Beginning balance reclassified to deferred revenue	(12,492)	(2,433)
Add: Contract liabilities recognized	14,913	10,555
Contract liabilities, ending balance	80,465	$ 64,325
Other Current Liabilities
Change in Contract with Customer, Liability [Roll Forward]
Contract liabilities, beginning balance	34,500
Contract liabilities, ending balance	$ 35,900

Financial Statements Details _9

Financial Statements Details - Deferred Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Movement in Deferred Revenue [Roll Forward]
Deferred revenue, beginning balance	$ 650,827	$ 575,288
Less: Revenue recognized from beginning balance	(107,442)	(100,377)
Add: Deferral of revenue in current period, excluding amounts recognized during the period	176,646	121,864
Deferred revenue, ending balance	$ 720,031	$ 596,775

Financial Statements Details_10

Financial Statements Details - Performance Obligations (Details) $ in Millions	Mar. 31, 2021USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 972.2
Unbilled Revenues
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 171.7
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligation, percentage	80.00%
Performance obligation, period	2 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligation, percentage	20.00%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01 \| Maximum
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligation, period	5 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01 \| Minimum
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligation, period	3 years

Financial Statements Details_11

Financial Statements Details - Other Income (Expense), Net (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Balance Sheet Components [Abstract]
Interest income	$ 2,045	$ 11,662
Other income (expense), net	(470)	495
Total other income (expense), net	$ 1,575	$ 12,157

Investments (Details)

Investments (Details) - USD ($)	3 Months Ended
Investments (Details) - USD ($)	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Equity Securities without Readily Determinable Fair Value
Cost of investments	$ 5,000,000		$ 3,000,000
Cumulative impairment	0		0
Cumulative upward adjustment	5,314,000		5,314,000
Carrying amount of investments	10,314,000		$ 8,314,000
Equity Securities, Gain (Loss)
Realized gain (loss)	0	$ 0
Unrealized gain (loss)	$ 0	$ 0

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Long-term Purchase Commitment [Line Items]
Non-cancellable purchase commitments	$ 747.6
Deposits to purchase inventory	24.2	$ 21.5
Contract with manufacturers and suppliers
Long-term Purchase Commitment [Line Items]
Non-cancellable purchase commitments	$ 712.7

Stockholders_ Equity and Stoc_3

Stockholders’ Equity and Stock-Based Compensation - Narrative (Details) - USD ($)	Jan. 01, 2021	Mar. 31, 2021	Apr. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Authorized amount for stock repurchases			$ 1,000,000,000
Remaining authorized repurchase amount		$ 237,300,000
Unamortized compensation costs		$ 414,500,000
Unamortized compensation costs, weighted-average period of recognition		3 years 1 month 6 days
PRSU
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted (in shares)		69,620
PRSU \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		3 years
Award vesting rights percentage		0.00%
PRSU \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		4 years
Award vesting rights percentage		200.00%
2014 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of additional shares authorized for issuance (in shares)	2,285,228
2014 Equity Incentive Plan \| Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum increase of number of shares available for issuance (in shares)	12,500,000
Percent of shares outstanding to increase number of shares available for grant and issuance	3.00%
Common stock reserved for issuance (in shares)		23,400,000
2014 Employee Stock Purchase Plan \| Employee stock purchase plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum increase of number of shares available for issuance (in shares)	2,500,000
Percent of shares outstanding to increase number of shares available for grant and issuance	1.00%
Number of additional shares authorized for issuance (in shares)	761,742
Common stock reserved for issuance (in shares)		4,600,000
Shares issued (in shares)		56,326
Weighted-average purchase price (in dollars per share)		$ 182.76

Stockholders_ Equity and Stoc_4

Stockholders’ Equity and Stock-Based Compensation - Stock Repurchase Program (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Share-based Payment Arrangement [Abstract]
Aggregate purchase price	$ 101,355	$ 227,895
Shares repurchased (in shares)	367
Average price paid per share (in dollars per share)	$ 275.88

Stockholders_ Equity and Stoc_5

Stockholders’ Equity and Stock-Based Compensation - Option Activities (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Number of Shares Underlying Outstanding Options
Outstanding, beginning balance (in shares)	3,430
Options granted (in shares)	0
Options exercised (in shares)	(263)
Options canceled (in shares)	(12)
Outstanding, ending balance (in shares)	3,155	3,430
Vested and exercisable (in shares)	2,169
Weighted- Average Exercise Price per Share
Outstanding, beginning balance (in dollars per share)	$ 45.17
Options granted (in dollars per share)	0
Options exercised (in dollars per share)	29.57
Options canceled (in dollars per share)	36.08
Outstanding, ending balance (in dollars per share)	46.51	$ 45.17
Vested and exercisable (in dollars per share)	$ 34.55
Weighted- Average Remaining Contractual Term (Years) and Aggregate Intrinsic Value of Stock Options
Weighted-average remaining contractual term of stock options outstanding	3 years 4 months 24 days	3 years 7 months 6 days
Weighted-average remaining contractual term of stock options vested and exercisable	3 years
Aggregate intrinsic value of stock options outstanding	$ 805,597	$ 841,659
Aggregate intrinsic value of stock options outstanding, vested and exercisable	$ 579,805

Stockholders_ Equity and Stoc_6

Stockholders’ Equity and Stock-Based Compensation - RSU Activity (Details) - (RSUs) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Number of Shares
Unvested beginning balance (in shares)	1,816
Shares granted (in shares)	176
RSUs vested (in shares)	(139)
RSUs forfeited/canceled (in shares)	(46)
Unvested ending balance (in shares)	1,807	1,816
Weighted- Average Grant Date Fair Value Per Share
Unvested beginning balance (in dollars per share)	$ 215.68
RSUs granted (in dollars per share)	310.32
Vested (in dollars per share)	199.41
RSUs forfeited/canceled (in dollars per share)	225.87
Unvested ending balance (in dollars per share)	$ 225.88	$ 215.68
Unvested, weighted average remaining contractual term (in years)	1 year 8 months 12 days	1 year 9 months 18 days
Unvested, aggregate intrinsic value	$ 545,194	$ 527,574

Stockholders_ Equity and Stoc_7

Stockholders’ Equity and Stock-Based Compensation - Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation	$ 37,553	$ 27,556
Cost of revenue
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation	1,400	1,327
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation	21,982	15,928
Sales and marketing
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation	10,085	6,396
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation	$ 4,086	$ 3,905

Net Income Per Share - Basic an

Net Income Per Share - Basic and Diluted Net Income Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Numerator:
Net income	$ 180,366	$ 138,431
Denominator:
Weighted-average shares used in computing net income per share, basic (in shares)	76,306	76,264
Add weighted-average effect of dilutive securities:
Stock options and RSUs (in shares)	3,279	3,675
Employee stock purchase plan (in shares)	38	0
Weighted-average shares used in computing net income per share, diluted (in shares)	79,623	79,939
Net income per share:
Basic (in dollars per share)	$ 2.36	$ 1.82
Diluted (in dollars per share)	$ 2.27	$ 1.73

Net Income Per Share - Antidilu

Net Income Per Share - Antidilutive Securities Excluded from Earnings Per Share (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from earnings per share (in shares)	140	601
Stock options and RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from earnings per share (in shares)	130	601
Employee stock purchase plan
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from earnings per share (in shares)	10	0

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Mar. 31, 2020
Income Tax Disclosure [Abstract]
Income before income taxes	$ 207,867	$ 161,819
Provision for income taxes	$ 27,501	$ 23,388
Effective tax rate	13.20%	14.50%

Geographical Information (Detai

Geographical Information (Details) $ in Thousands	3 Months Ended
Geographical Information (Details) $ in Thousands	Mar. 31, 2021USD ($)segment	Mar. 31, 2020USD ($)	Dec. 31, 2020USD ($)
Revenues from External Customers and Long-Lived Assets [Line Items]
Number of reportable segments \| segment	1
Revenue	$ 667,562	$ 523,029
Long-lived assets	32,462		$ 32,231
Americas
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	501,872	400,660
Europe, Middle East and Africa
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	96,274	72,624
Asia-Pacific
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	69,416	$ 49,745
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	23,851		24,110
International
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	$ 8,611		$ 8,121