Arista Networks (ANET) 10-Q1 Aug 222022 Q2 Quarterly reportFinancial data

Company Profile

Cover Page

Cover Page - shares	6 Months Ended
Cover Page - shares	Jun. 30, 2022	Jul. 27, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2022
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)		304,280,458
Entity Central Index Key	0001596532
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
CURRENT ASSETS:
Cash and cash equivalents	$ 493,246	$ 620,813
Marketable securities	2,408,656	2,787,502
Accounts receivable, net	585,786	516,509
Inventories	852,810	650,117
Prepaid expenses and other current assets	388,697	237,735
Total current assets	4,729,195	4,812,676
Property and equipment, net	91,823	78,634
Acquisition-related intangible assets, net	140,836	93,555
Goodwill	273,494	188,397
Investments	38,263	20,247
Operating lease right-of-use assets	61,869	65,182
Deferred tax assets	442,455	442,295
Other assets	46,610	33,443
TOTAL ASSETS	5,824,545	5,734,429
CURRENT LIABILITIES:
Accounts payable	275,093	202,636
Accrued liabilities	210,334	226,643
Deferred revenue	697,762	593,578
Other current liabilities	94,837	86,972
Total current liabilities	1,278,026	1,109,829
Income taxes payable	79,422	69,916
Operating lease liabilities, non-current	51,793	56,527
Deferred revenue, non-current	335,728	335,734
Deferred tax liabilities, non-current	13,447	129,074
Other long-term liabilities	60,337	54,749
TOTAL LIABILITIES	1,818,753	1,755,829
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 June 30, 2022 and December 31, 2021	0	0
Common stock, $0.0001 par value—1,000,000 shares authorized as of June 30, 2022 and December 31, 2021; 304,455 and 307,681 shares issued and outstanding as of June 30, 2022 and December 31, 2021	30	31
Additional paid-in capital	1,638,787	1,530,046
Retained earnings	2,408,294	2,456,823
Accumulated other comprehensive income (loss)	(41,319)	(8,300)
TOTAL STOCKHOLDERS’ EQUITY	4,005,792	3,978,600
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 5,824,545	$ 5,734,429

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
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)	304,455,000	307,681,000
Common stock, shares outstanding (in shares)	304,455,000	307,681,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Revenue:
Total revenue		$ 1,051,891	$ 707,319	$ 1,928,957	$ 1,374,881
Cost of revenue:
Total cost of revenue		408,626	253,141	731,847	495,431
Gross profit		643,265	454,178	1,197,110	879,450
Operating expenses:
Research and development		178,158	143,293	350,164	275,780
Sales and marketing		79,372	70,625	160,111	141,645
General and administrative		22,882	20,895	45,995	36,368
Total operating expenses		280,412	234,813	556,270	453,793
Income from operations		362,853	219,365	640,840	425,657
Other income (expense), net		(533)	1,719	30,947	3,294
Income before income taxes		362,320	221,084	671,787	428,951
Provision for income taxes		63,221	24,196	100,429	51,697
Net income		$ 299,099	$ 196,888	$ 571,358	$ 377,254
Net income per share
Basic (in dollars per share)	[1]	$ 0.98	$ 0.64	$ 1.86	$ 1.23
Diluted (in dollars per share)	[1]	$ 0.94	$ 0.62	$ 1.80	$ 1.18
Weighted-average shares used in computing net income per share
Basic (in shares)	[1]	306,754	305,844	307,399	305,536
Diluted (in shares)	[1]	316,581	318,840	318,040	318,708
Product
Revenue:
Total revenue		$ 885,806	$ 566,467	$ 1,610,524	$ 1,105,612
Cost of revenue:
Total cost of revenue		375,634	225,779	669,443	444,212
Service
Revenue:
Total revenue		166,085	140,852	318,433	269,269
Cost of revenue:
Total cost of revenue		$ 32,992	$ 27,362	$ 62,404	$ 51,219

[1]Prior periods have been adjusted to reflect the four-for-one stock split effected in the form of a stock dividend in November 2021.

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Operations (Parenthetical)	1 Months Ended
	Nov. 30, 2021
Income Statement [Abstract]
Stock split ratio	4

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 299,099	$ 196,888	$ 571,358	$ 377,254
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	(2,359)	191	(2,732)	(350)
Net change in unrealized gains (losses) on available-for-sale securities	(8,459)	(466)	(30,287)	(1,027)
Other comprehensive income (loss)	(10,818)	(275)	(33,019)	(1,377)
Comprehensive income	$ 288,281	$ 196,613	$ 538,339	$ 375,877

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands		Total	Common Stock		Additional Paid-In Capital		Retained Earnings	Accumulated Other Comprehensive Loss
Beginning balance (in shares) at Dec. 31, 2020	[1]		304,696
Beginning balance at Dec. 31, 2020		$ 3,320,291	$ 30	[1]	$ 1,292,409	[1]	$ 2,027,614	$ 238
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		377,254					377,254
Other comprehensive loss, net of tax		(1,377)						(1,377)
Stock-based compensation		82,497			82,497	[1]
Issuance of common stock in connection with employee equity incentive plans (in shares)	[1]		3,512
Issuance of common stock in connection with employee equity incentive plans		26,884			26,884	[1]
Repurchase of common stock (in shares)	[1]		(1,468)
Repurchase of common stock		(101,355)					(101,355)
Tax withholding paid for net share settlement of equity awards (in shares)	[1]		(80)
Tax withholding paid for net share settlement of equity awards		(6,353)			(6,353)	[1]
Ending balance (in shares) at Jun. 30, 2021	[1]		306,660
Ending balance at Jun. 30, 2021		3,697,841	$ 30	[1]	1,395,437	[1]	2,303,513	(1,139)
Beginning balance (in shares) at Mar. 31, 2021	[1]		305,028
Beginning balance at Mar. 31, 2021		3,451,338	$ 30	[1]	1,345,547	[1]	2,106,625	(864)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		196,888					196,888
Other comprehensive loss, net of tax		(275)						(275)
Stock-based compensation		44,944			44,944	[1]
Issuance of common stock in connection with employee equity incentive plans (in shares)	[1]		1,676
Issuance of common stock in connection with employee equity incentive plans		8,803			8,803	[1]
Tax withholding paid for net share settlement of equity awards (in shares)	[1]		(44)
Tax withholding paid for net share settlement of equity awards		(3,857)			(3,857)	[1]
Ending balance (in shares) at Jun. 30, 2021	[1]		306,660
Ending balance at Jun. 30, 2021		3,697,841	$ 30	[1]	1,395,437	[1]	2,303,513	(1,139)
Beginning balance (in shares) at Dec. 31, 2021			307,681
Beginning balance at Dec. 31, 2021		3,978,600	$ 31		1,530,046		2,456,823	(8,300)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		571,358					571,358
Other comprehensive loss, net of tax		(33,019)						(33,019)
Stock-based compensation		100,503			100,503
Issuance of common stock in connection with employee equity incentive plans (in shares)			2,858
Issuance of common stock in connection with employee equity incentive plans		$ 22,991			22,991
Repurchase of common stock (in shares)		(5,954)	(5,954)
Repurchase of common stock		$ (619,888)	$ (1)				(619,887)
Tax withholding paid for net share settlement of equity awards (in shares)			(163)
Tax withholding paid for net share settlement of equity awards		(18,802)			(18,802)
Common stock issued for business acquisition (in shares)			33
Common stock issued for business acquisition		4,049			4,049
Ending balance (in shares) at Jun. 30, 2022			304,455
Ending balance at Jun. 30, 2022		4,005,792	$ 30		1,638,787		2,408,294	(41,319)
Beginning balance (in shares) at Mar. 31, 2022			308,165
Beginning balance at Mar. 31, 2022		4,153,177	$ 31		1,590,793		2,592,854	(30,501)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		299,099					299,099
Other comprehensive loss, net of tax		(10,818)						(10,818)
Stock-based compensation		50,224			50,224
Issuance of common stock in connection with employee equity incentive plans (in shares)			1,131
Issuance of common stock in connection with employee equity incentive plans		3,831			3,831
Repurchase of common stock (in shares)			(4,783)
Repurchase of common stock		(483,660)	$ (1)				(483,659)
Tax withholding paid for net share settlement of equity awards (in shares)			(58)
Tax withholding paid for net share settlement of equity awards		(6,061)			(6,061)
Ending balance (in shares) at Jun. 30, 2022			304,455
Ending balance at Jun. 30, 2022		$ 4,005,792	$ 30		$ 1,638,787		$ 2,408,294	$ (41,319)

[1]Prior periods have been adjusted to reflect the four-for-one stock split effected in the form of a stock dividend in November 2021.

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Stockholders' Equity (Parenthetical)	1 Months Ended
	Nov. 30, 2021
Statement of Stockholders' Equity [Abstract]
Stock split ratio	4

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 571,358	$ 377,254
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, amortization and other	28,012	25,235
Stock-based compensation	100,503	82,497
Noncash lease expense	9,161	8,410
Deferred income taxes	(105,937)	(2,998)
Unrealized gain on equity investments	(23,413)	0
Amortization of investment premiums	11,457	12,121
Changes in operating assets and liabilities:
Accounts receivable, net	(64,335)	25,326
Inventories	(202,052)	(63,531)
Prepaid expenses and other current assets	(158,149)	(44,356)
Other assets	(5,543)	(3,390)
Accounts payable	71,169	10,879
Accrued liabilities	(16,210)	20,025
Deferred revenue	91,201	95,263
Income taxes payable	10,792	(9,144)
Other liabilities	221	(15,550)
Net cash provided by operating activities	318,235	518,041
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from maturities of marketable securities	829,714	819,807
Purchases of marketable securities	(641,979)	(1,241,657)
Purchases of property and equipment	(23,744)	(9,567)
Business acquisitions, net of cash acquired	(145,087)	1,419
Investments in privately-held companies and intangibles	(11,691)	(6,084)
Proceeds from sale of marketable securities	165,746	0
Net cash provided by (used in) investing activities	172,959	(436,082)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of common stock under equity plans	22,991	26,884
Tax withholding paid on behalf of employees for net share settlement	(18,802)	(6,353)
Repurchase of common stock	(619,888)	(101,355)
Net cash used in financing activities	(615,699)	(80,824)
Effect of exchange rate changes	(3,041)	(665)
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	(127,546)	470
CASH, CASH EQUIVALENTS AND RESTRICTED CASH —Beginning of period	625,050	897,454
CASH, CASH EQUIVALENTS AND RESTRICTED CASH —End of period	497,504	897,924
SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING AND FINANCING INFORMATION:
Right-of-use assets obtained in exchange for new operating lease liabilities	6,022	1,619
Property and equipment included in accounts payable and accrued liabilities	4,520	1,732
Common stock issued for business acquisition	$ 4,049	$ 0

Organization and Summary of Sig

Organization and Summary of Significant Accounting Policies	6 Months Ended
Organization and Summary of Significant Accounting Policies	Jun. 30, 2022
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 and six months ended June 30, 2022, are not necessarily indicative of the results expected for the full fiscal year. The condensed consolidated balance sheet as of December 31, 2021 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, 2021, filed with the SEC on February 15, 2022. 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, allowance for doubtful accounts, sales rebates and return reserves, 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. Risks and Uncertainties Global economic and business activities continue to face widespread macroeconomic uncertainties, including supply chain and labor shortages, inflation and monetary policy shifts, recession risks, the ongoing global coronavirus ("COVID-19") pandemic and potential disruptions from the Russia-Ukraine conflict. Our contract manufacturers and suppliers have experienced workforce disruptions, delays in component sourcing, production and export of their products as well as component shortages and increased component costs, which have disrupted our supply chain and have impacted and will likely continue to impact our ability to supply products to our customers on a timely basis. While we continue to experience strong overall demand from customers, we believe ongoing supply disruptions combined with other supply chain related constraints could impact our ability to fulfill this increased demand and as a result could negatively impact our business in future periods. In addition, inflation pressure in our supply chain and scarcity of some materials needed to build our products have increased our cost of revenue and have impacted, and may continue to negatively impact our gross margin. The extent of the impact 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, the impact to our customers, partners, employees, contract manufacturers and supply chain, as well as restrictions on travel and transport, all of which continue to evolve and are unpredictable. Management continues to actively monitor the impact of these macroeconomic factors 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 these factors may materially impact the Company's financial condition, liquidity, or results of operations is uncertain. Recently Adopted Accounting Pronouncements In October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers. ASU 2021-08 requires companies to recognize and measure contract assets and contract liabilities relating to contracts with customers that are acquired in a business combination in accordance with ASC 606. Under previous GAAP, an acquirer generally recognizes assets acquired and liabilities assumed in a business combination, including contract assets and contract liabilities arising from revenue contracts with customers, at fair value on the acquisition date. ASU No. 2021-08 results in the acquirer recording acquired contract assets and liabilities on the same basis that would have been recorded by the acquiree before the acquisition under ASC Topic 606. The ASU is effective for fiscal years beginning after December 15, 2022, with early adoption permitted. The Company adopted this ASU as of January 1, 2022 on a prospective basis and the adoption impact was immaterial to the condensed consolidated financial statements. The standard will not impact acquired contract assets or liabilities from business combinations occurring prior to the adoption date.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
Fair Value Measurements	Jun. 30, 2022
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, marketable equity securities and available-for-sale debt securities 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 thousands): As of June 30, 2022 As of December 31, 2021 Level I Level II Level III Total Level I Level II Level III Total Financial Assets: Cash Equivalents: Money market funds $ 274,754 $ — $ — $ 274,754 $ 221,382 $ — $ — $ 221,382 Commercial paper — 3,642 — 3,642 — — — — 274,754 3,642 — 278,396 221,382 — — 221,382 Marketable Securities: Commercial paper — 18,462 — 18,462 — 141,274 — 141,274 Certificate of deposits (1) — 13,030 — 13,030 — 44,931 — 44,931 U.S. government notes 1,082,084 — — 1,082,084 1,057,810 — — 1,057,810 Corporate bonds — 1,066,585 — 1,066,585 — 1,252,226 — 1,252,226 Agency securities — 211,768 — 211,768 — 291,261 — 291,261 Marketable equity securities (2) 16,727 — — 16,727 — — — — 1,098,811 1,309,845 — 2,408,656 1,057,810 1,729,692 — 2,787,502 Other Assets: Money market funds - restricted 4,258 — — 4,258 4,237 — — 4,237 Total Financial Assets $ 1,377,823 $ 1,313,487 $ — $ 2,691,310 $ 1,283,429 $ 1,729,692 $ — $ 3,013,121 ______________________________________ (1) As of June 30, 2022 and December 31, 2021, all of our certificates of deposits were domestic deposits. (2) The $16.7 million represents the fair value of marketable equity securities as of June 30, 2022. This amount includes $8.3 million that was reclassified from Investments on our condensed consolidated balance sheet following the commencement of public market trading of the issuer in January 2022. This publicly-traded equity investment generated an unrealized gain of $8.4 million for the six months ended June 30, 2022, and an unrealized loss of $5.1 million for the three months ended June 30, 2022. The unrealized gains and losses are included in Other income (expense), net on the Condensed Consolidated Statements of Operations. Refer to Note 3. Financial Statements Details. During the three and six months ended on June 30, 2022, the Company did not make any transfers between the levels of the fair value hierarchy. Marketable 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 thousands): As of June 30, 2022 As of December 31, 2021 Amortized Cost Unrealized Gains Unrealized Losses Fair Value Amortized Cost Unrealized Gains Unrealized Losses Fair Value Commercial paper $ 18,462 $ — $ — $ 18,462 $ 141,274 $ — $ — $ 141,274 U.S. government 1,098,360 — (16,276) 1,082,084 1,060,716 3 (2,909) 1,057,810 Corporate bonds 1,083,803 6 (17,224) 1,066,585 1,255,149 105 (3,028) 1,252,226 Agency securities 214,687 1 (2,920) 211,768 291,558 36 (333) 291,261 Total $ 2,415,312 $ 7 $ (36,420) $ 2,378,899 $ 2,748,697 $ 144 $ (6,270) $ 2,742,571 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 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. Given the short-term and conservative nature of our portfolio, the unrealized losses are not related to credit risk; therefore, we did not recognize any credit losses or non-credit-related impairments related to our available-for-sale marketable debt securities for the three and six months ended June 30, 2022. All unrealized losses were recognized in other comprehensive income (loss). Realized losses were immaterial for the three and six months ended June 30, 2022. The following table is an analysis of our marketable debt securities in unrealized loss positions (in thousands): As of June 30, 2022 Unrealized Losses within 12 months Unrealized Losses 12 months or greater Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses U.S. government notes $ 1,082,084 $ (16,276) $ — $ — $ 1,082,084 $ (16,276) Corporate bonds 995,771 (16,075) 65,373 (1,149) 1,061,144 (17,224) Agency securities 206,768 (2,920) — — 206,768 (2,920) Total $ 2,284,623 $ (35,271) $ 65,373 $ (1,149) $ 2,349,996 $ (36,420) As of June 30, 2022, we had no marketable debt securities with contractual maturities that exceed 24 months. The fair values of marketable debt securities, by remaining contractual maturities, are as follows (in thousands): As of June 30, 2022 Fair Value Due in 1 year or less $ 1,700,701 Due in 1 to 2 years 678,198 Total debt securities $ 2,378,899 The weighted-average remaining duration of our marketable debt securities is approximately 0.8 years as of June 30, 2022. 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. Assets measured at fair value on a non-recurring basis Non-Marketable Equity Securities We have non-marketable equity securities in privately-held companies that do not have readily-determinable fair values. These equity securities are included in Investments on the condensed consolidated balance sheets. 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. We did not record any realized gains or losses for our non-marketable equity securities measured at fair value on a non-recurring basis during the three and six months ended June 30, 2022 and June 30, 2021. We recorded an unrealized gain of $15.0 million on non-marketable equity securities based on observable price changes from orderly transactions of identical or similar securities of the same issuer in the six months ended June 30, 2022, but did not record any unrealized losses or additional unrealized gains in the three months ended June 30, 2022 and the three and six months ended June 30, 2021. We evaluate our non-marketable equity securities for impairment at each reporting period via a qualitative assessment with various potential impairment indicators, including, but not limited to, an assessment of a significant adverse change in the economic environment, significant adverse changes in the general market condition of the geographies and industries in which our investees operate, and other publicly-available information that affected the value of the its non-marketable equity securities. The following table summarizes the activity related to our non-marketable equity securities as of June 30, 2022 and December 31, 2021 (in thousands): June 30, 2022 December 31, 2021 Cost of investments (1) $ 23,263 $ 14,933 Cumulative impairment — — Cumulative upward adjustment (1) 15,000 5,314 Carrying amount of investments $ 38,263 $ 20,247

Financial Statements Details

Financial Statements Details	6 Months Ended
Financial Statements Details	Jun. 30, 2022
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 on the unaudited condensed consolidated balance sheets to the total of the same such amounts in the unaudited condensed consolidated statements of cash flows is as follows (in thousands): June 30, 2022 December 31, 2021 Cash and cash equivalents $ 493,246 $ 620,813 Restricted cash included in other assets 4,258 4,237 Total cash, cash equivalents and restricted cash $ 497,504 $ 625,050 Accounts Receivable, net Accounts receivable, net consists of the following (in thousands): June 30, 2022 December 31, 2021 Accounts receivable $ 598,380 $ 521,597 Allowance for doubtful accounts (207) (132) Product sales rebate and returns reserve (12,387) (4,956) Accounts receivable, net $ 585,786 $ 516,509 Inventories Inventories consist of the following (in thousands): June 30, 2022 December 31, 2021 Raw materials $ 462,396 $ 316,737 Finished goods 390,414 333,380 Total inventories $ 852,810 $ 650,117 Prepaid Expenses and Other Current Assets Prepaid expenses and other current assets consist of the following (in thousands): June 30, 2022 December 31, 2021 Inventory deposits $ 98,099 $ 46,311 Prepaid income taxes 10,189 8,977 Other current assets 256,102 163,916 Other prepaid expenses and deposits 24,307 18,531 Total prepaid expenses and other current assets $ 388,697 $ 237,735 Property and Equipment, net Property and equipment, net consists of the following (in thousands): June 30, 2022 December 31, 2021 Land $ 40,485 $ 40,145 Equipment and machinery 111,646 90,915 Computer hardware and software 47,376 44,083 Leasehold improvements 30,208 30,502 Furniture and fixtures 3,612 3,634 Construction-in-process 2,207 2,378 Property and equipment, gross 235,534 211,657 Less: accumulated depreciation (143,711) (133,023) Property and equipment, net $ 91,823 $ 78,634 Depreciation expense was $6.2 million and $4.8 million for the three months ended June 30, 2022 and 2021, respectively, and $11.8 million and $9.7 million for the six months ended June 30, 2022 and 2021, respectively. Accrued Liabilities Accrued liabilities consist of the following (in thousands): June 30, 2022 December 31, 2021 Accrued payroll related costs $ 78,066 $ 99,571 Accrued manufacturing costs 79,949 80,213 Accrued product development costs 24,311 22,188 Accrued warranty costs 13,288 10,414 Other 14,720 14,257 Total accrued liabilities $ 210,334 $ 226,643 Warranty Accrual The following table summarizes the activity related to our accrued liability for estimated future warranty costs (in thousands): Six Months Ended June 30, 2022 2021 Warranty accrual, beginning of period $ 10,414 $ 9,314 Liabilities accrued for warranties issued during the period 8,441 5,603 Warranty costs incurred during the period (5,567) (5,922) Warranty accrual, end of period $ 13,288 $ 8,995 Contract Assets The following table summarizes the beginning and ending balances of our contract assets included in "Prepaid and other current assets" on the condensed consolidated balance sheets (in thousands): Six Months Ended June 30, 2022 Contract assets, beginning balance $ 24,388 Contract assets, ending balance 29,237 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 thousands): Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Contract liabilities, beginning balance $ 98,422 $ 80,465 $ 93,382 $ 85,957 Less: Revenue recognized from beginning balance (8,589) (8,482) (19,076) (18,482) Less: Beginning balance reclassified to deferred revenue (4,338) (3,856) (3,606) (12,710) Add: Contract liabilities recognized 16,105 15,227 30,900 28,589 Contract liabilities, ending balance $ 101,600 $ 83,354 $ 101,600 $ 83,354 As of June 30, 2022 and December 31, 2021, $41.4 million and $38.7 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, services and product deferrals related to acceptance clauses. The following table summarizes the activity related to our deferred revenue (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Deferred revenue, beginning balance $ 1,123,746 $ 720,031 $ 929,312 $ 650,827 Less: Revenue recognized from beginning balance (309,594) (145,556) (322,954) (222,865) Add: Deferral of revenue in current period, excluding amounts recognized during the period 219,338 171,615 427,132 318,128 Deferred revenue, ending balance $ 1,033,490 $ 746,090 $ 1,033,490 $ 746,090 Other Performance Obligations Other performance obligations include unbilled contract revenue for services and products that will be recognized in future periods. As of June 30, 2022, other performance obligations of $178.1 million were comprised mainly of unbilled multi-year PCS contract amounts that will be recognized as revenue in future periods. In addition, as of June 30, 2022 the company had entered into $762.7 million of binding contractual agreements with certain customers that are primarily related to future product shipments. 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 June 30, 2022, approximately $1,313.3 million of revenue is expected to be recognized from remaining performance obligations, of which approximately 83% is expected to be recognized over the next two years and approximately 17% is expected to be recognized during the third to the fifth year. These amounts do not include the $762.7 million of binding contractual agreements related primarily to future product shipments outlined above. As of June 30, 2022, it is expected that the majority of the amounts allocated to these specific performance obligations will be recognized as revenue upon product shipment over the next two years; however, given the current uncertain supply chain environment and industry wide supply constraints, we may experience manufacturing and shipment delays or cancellations related to these performance obligations, which could impact revenue recognition. Other Income (Expense), net Other income (expense), net consists of the following (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Interest income $ 4,427 $ 1,872 $ 6,855 $ 3,917 Unrealized gain (loss) on equity investments (5,084) — 23,413 — Other income (expense), net 124 (153) 679 (623) Total $ (533) $ 1,719 $ 30,947 $ 3,294

Acquisition, Goodwill and Acqui

Acquisition, Goodwill and Acquisition-Related Intangible Assets	6 Months Ended
	Jun. 30, 2022
Business Combination and Asset Acquisition [Abstract]
Acquisition, Goodwill and Acquisition-Related Intangible Assets	Acquisition, Goodwill and Acquisition-Related Intangible Assets Acquisitions During the six months ended June 30, 2022, we completed two acquisitions of private companies for total consideration of $158.9 million including $4.0 million in common stock and the remainder in cash. The purchase prices included $62.3 million of intangible assets, $85.1 million of goodwill and $11.5 million of net assets acquired. We also incurred certain acquisition-related expenses of $4.7 million, which primarily consisted of retention bonuses to continuing employees as well as professional and consulting fees. The intangible assets are amortized 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. The following table sets forth the components of identifiable intangible assets acquired and their estimated useful lives as of the date of acquisition (in thousands, except years): Acquisition Date Fair Value Weighted Average Estimated Useful Life (in years) Developed technology $ 30,200 5.7 Customer relationships 28,700 7.0 Trade name 3,400 3.0 Total intangible assets acquired $ 62,300 Goodwill The changes in the carrying values of goodwill for the three and six months ended June 30, 2022 are as follows (in thousands): Amount Balance at December 31, 2021 $ 188,397 Additions related to the acquisition completed in January, 2022 28,518 Balance at March 31, 2022 $ 216,915 Additions related to the acquisition completed in June, 2022 56,530 Measurement-period adjustments to the acquisition completed in January, 2022 49 Balance at June 30, 2022 $ 273,494 Acquisition-Related Intangible Assets Acquisition-related intangible assets were as follows (in thousands, except years): Gross Carrying Amount Accumulated Amortization Net Carrying Amount Weighted Average Remaining Useful Life (in years) December 31, 2021 Additions June 30, 2022 December 31, 2021 Amortization June 30, 2022 December 31, 2021 June 30, 2022 Developed technology $ 124,730 $ 30,200 $ 154,930 $ (53,663) $ (11,732) $ (65,395) $ 71,067 $ 89,535 4.7 Customer relationships 25,920 28,700 54,620 (7,899) (2,347) (10,246) 18,021 44,374 6.1 Trade name 8,990 3,400 12,390 (4,693) (770) (5,463) 4,297 6,927 3.1 Others 5,720 — 5,720 (5,550) (170) (5,720) 170 — 0.0 Total $ 165,360 $ 62,300 $ 227,660 $ (71,805) $ (15,019) $ (86,824) $ 93,555 $ 140,836 5.1 Amortization expense related to acquisition-related intangible assets was $7.7 million, and $7.4 million for the three months ended June 30, 2022 and 2021, and $15.0 million and $14.8 million for the six months ended June 30, 2022 and 2021, respectively. As of June 30, 2022, future estimated amortization expense related to the acquisition-related intangible assets is as follows (in thousands): Future Amortization Expense Remainder of 2022 $ 18,630 2023 33,438 2024 26,759 2025 19,642 2026 17,260 Thereafter 25,107 Total $ 140,836

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Jun. 30, 2022
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 June 30, 2022, we had non-cancellable purchase commitments of $4,472.2 million, out of which $2,937.6 million have confirmed receipt dates within 12 months, and $1,534.6 million have confirmed 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 $100.8 million and $49.1 million as of June 30, 2022 and December 31, 2021, respectively, which were recorded within prepaid expenses and other current assets, as well as other assets in the 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. On November 5, 2021, the case was transferred to the Northern District of California. On March 30, 2022, WSOU dismissed one of the patents with prejudice, removing Arista wireless products from those accused of infringement. On July 1, 2022, the court stayed the case pending the resolution of an inter partes review of one of the patents-in-suit. 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 June 30, 2022, 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

Stockholders_ Equity and Stock-

Stockholders’ Equity and Stock-Based Compensation	6 Months Ended
Stockholders’ Equity and Stock-Based Compensation	Jun. 30, 2022
Share-based Payment Arrangement [Abstract]
Stockholders’ Equity and Stock-Based Compensation	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 allowed us to repurchase shares of our common stock over three years, and we completed our repurchases under the Repurchase Program during the fourth quarter of 2021. In the fourth quarter of 2021, our board of directors authorized an additional $1.0 billion stock repurchase program (the “New Repurchase Program”), which allows us to repurchase shares of our common stock to 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 Exchange Act, or a combination of the foregoing. The New Repurchase Program commenced in November 2021 and expires on the three-year anniversary thereof. The New Repurchase Program 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 June 30, 2022, the remaining authorized amount for stock repurchases under this program was approximately $307.2 million. A summary of the stock repurchase activity under the New Repurchase Program for the six months ended June 30, 2022 is as follows (in thousands, except per share amounts): Six Months Ended June 30, 2022 Aggregate purchase price $ 619,888 Shares repurchased 5,954 Average price paid per share $ 104.11 The aggregate purchase price of repurchased shares of our common stock is recorded as a reduction to retained earnings in our condensed consolidated statements of stockholders' equity. All shares repurchased have been retired. Equity Award Plan Activities 2014 Equity Incentive Plan In April 2014, our board of directors and stockholders approved the 2014 Equity Incentive Plan (the “2014 Plan”), effective on the first day that our common stock was publicly traded, and simultaneously terminated the 2004 and 2011 equity plans as to future grants; however, these plans will continue to govern the terms and conditions of the outstanding options previously granted thereunder. Awards granted under the 2014 Plan could be in the form 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 commencing with 2016 by the number of shares equal to 3% of the outstanding shares of our common stock on the immediately preceding December 31, but not to exceed 50,000,000 shares (the “2014 Plan Evergreen Increase”), unless our board of directors, in its discretion, determines to make a smaller increase. Effective January 1, 2022, our board of directors authorized an increase of 9,230,434 shares to the shares available for issuance under the 2014 Plan. As of June 30, 2022, there remained approximately 94.7 million shares available for issuance under the 2014 Plan. 2014 Employee Stock Purchase Plan In April 2014, our board of directors and stockholders approved the 2014 Employee Stock Purchase Plan (the “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 immediately preceding December 31, but not to exceed 10,000,000 shares, unless our board of directors, in its discretion, determines to make a smaller increase. Effective January 1, 2022, our board of directors authorized an increase of 3,076,811 shares to the shares available for issuance under our 2014 Employee Stock Purchase Plan (the “ESPP”). During the six months ended June 30, 2022, we issued 240,394 shares at a weighted-average purchase price of $48.75 per share under the ESPP. As of June 30, 2022, there remained approximately 20.8 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): Number of Weighted- Weighted- Aggregate Balance—December 31, 2021 8,685 $ 12.45 2.8 $ 1,140,369 Options granted — — Options exercised (1,230) 9.17 Options canceled (164) 16.44 Balance—June 30, 2022 7,291 $ 12.91 2.4 $ 589,386 Vested and exercisable—June 30, 2022 6,145 $ 10.58 2.0 $ 511,007 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, 2021 7,821 $ 70.98 1.7 $ 1,124,229 RSUs granted 2,873 99.57 RSUs vested (1,374) 63.72 RSUs forfeited/canceled (272) 74.77 Unvested balance—June 30, 2022 9,048 $ 81.16 1.9 $ 848,123 Stock-Based Compensation Expense The following table summarizes the stock-based compensation expense related to our equity awards (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Cost of revenue $ 2,312 $ 1,796 $ 3,621 $ 3,196 Research and development 28,449 23,139 56,025 45,121 Sales and marketing 12,827 11,368 25,936 21,453 General and administrative 6,636 8,641 14,921 12,727 Total stock-based compensation $ 50,224 $ 44,944 $ 100,503 $ 82,497

Net Income Per Share

Net Income Per Share	6 Months Ended
Net Income Per Share	Jun. 30, 2022
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 June 30, Six Months Ended June 30, 2022 2021 (1) 2022 2021 (1) Numerator: Net income $ 299,099 $ 196,888 $ 571,358 $ 377,254 Denominator: Weighted-average shares used in computing net income per share, basic 306,754 305,844 307,399 305,536 Add weighted-average effect of dilutive securities: Stock options and RSUs 9,695 12,764 10,509 12,940 Employee stock purchase plan 132 232 132 232 Weighted-average shares used in computing net income per share, diluted 316,581 318,840 318,040 318,708 Net income per share: Basic $ 0.98 $ 0.64 $ 1.86 $ 1.23 Diluted $ 0.94 $ 0.62 $ 1.80 $ 1.18 (1) Prior periods have been adjusted to reflect the four-for-one stock split effected in the form of a stock dividend in November 2021. 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 June 30, Six Months Ended June 30, 2022 2021 (1) 2022 2021 (1) Stock options and RSUs 781 404 423 460 Employee stock purchase plan — 80 8 60 Total 781 484 431 520 (1) Prior periods have been adjusted to reflect the four-for-one stock split effected in the form of a stock dividend in November 2021.

Income Taxes

Income Taxes	6 Months Ended
Income Taxes	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes (in thousands, except percentages) Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Income before income taxes $ 362,320 $ 221,084 $ 671,787 $ 428,951 Provision for income taxes 63,221 24,196 100,429 51,697 Effective tax rate 17.4 % 10.9 % 14.9 % 12.1 % The increase in the effective tax rates in the three and six months ended June 30, 2022, as compared to the same periods in 2021, was primarily due to a decrease in the proportion of tax benefits attributable to stock-based compensation versus total pre-tax income.

Geographical Information

Geographical Information	6 Months Ended
Geographical Information	Jun. 30, 2022
Segment Reporting [Abstract]
Geographical Information	Geographical Information We operate in one reportable segment. The following table represents revenue based on customers’ shipping addresses (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Americas $ 845,055 $ 514,149 $ 1,509,432 $ 1,016,021 Europe, Middle East and Africa 104,538 112,048 239,343 208,322 Asia-Pacific 102,298 81,122 180,182 150,538 Total revenue $ 1,051,891 $ 707,319 $ 1,928,957 $ 1,374,881 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 thousands): June 30, 2022 December 31, 2021 United States $ 70,216 $ 62,163 International 21,607 16,471 Total $ 91,823 $ 78,634

Organization and Summary of S_2

Organization and Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2022
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 and six months ended June 30, 2022, are not necessarily indicative of the results expected for the full fiscal year. The condensed consolidated balance sheet as of December 31, 2021 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 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, allowance for doubtful accounts, sales rebates and return reserves, 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.
Risks And Uncertainties	Risks and Uncertainties Global economic and business activities continue to face widespread macroeconomic uncertainties, including supply chain and labor shortages, inflation and monetary policy shifts, recession risks, the ongoing global coronavirus ("COVID-19") pandemic and potential disruptions from the Russia-Ukraine conflict. Our contract manufacturers and suppliers have experienced workforce disruptions, delays in component sourcing, production and export of their products as well as component shortages and increased component costs, which have disrupted our supply chain and have impacted and will likely continue to impact our ability to supply products to our customers on a timely basis. While we continue to experience strong overall demand from customers, we believe ongoing supply disruptions combined with other supply chain related constraints could impact our ability to fulfill this increased demand and as a result could negatively impact our business in future periods. In addition, inflation pressure in our supply chain and scarcity of some materials needed to build our products have increased our cost of revenue and have impacted, and may continue to negatively impact our gross margin. The extent of the impact 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, the impact to our customers, partners, employees, contract manufacturers and supply chain, as well as restrictions on travel and transport, all of which continue to evolve and are unpredictable. Management continues to actively monitor the impact of these macroeconomic factors
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements In October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers. ASU 2021-08 requires companies to recognize and measure contract assets and contract liabilities relating to contracts with customers that are acquired in a business combination in accordance with ASC 606. Under previous GAAP, an acquirer generally recognizes assets acquired and liabilities assumed in a business combination, including contract assets and contract liabilities arising from revenue contracts with customers, at fair value on the acquisition date. ASU No. 2021-08 results in the acquirer recording acquired contract assets and liabilities on the same basis that would have been recorded by the acquiree before the acquisition under ASC Topic 606. The ASU is effective for fiscal years beginning after December 15, 2022, with early adoption permitted. The Company adopted this ASU as of January 1, 2022 on a prospective basis and the adoption impact was immaterial to the condensed consolidated financial statements. The standard will not impact acquired contract assets or liabilities from business combinations occurring prior to the adoption date.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
Fair Value Measurements (Tables)	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Summary 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 thousands): As of June 30, 2022 As of December 31, 2021 Level I Level II Level III Total Level I Level II Level III Total Financial Assets: Cash Equivalents: Money market funds $ 274,754 $ — $ — $ 274,754 $ 221,382 $ — $ — $ 221,382 Commercial paper — 3,642 — 3,642 — — — — 274,754 3,642 — 278,396 221,382 — — 221,382 Marketable Securities: Commercial paper — 18,462 — 18,462 — 141,274 — 141,274 Certificate of deposits (1) — 13,030 — 13,030 — 44,931 — 44,931 U.S. government notes 1,082,084 — — 1,082,084 1,057,810 — — 1,057,810 Corporate bonds — 1,066,585 — 1,066,585 — 1,252,226 — 1,252,226 Agency securities — 211,768 — 211,768 — 291,261 — 291,261 Marketable equity securities (2) 16,727 — — 16,727 — — — — 1,098,811 1,309,845 — 2,408,656 1,057,810 1,729,692 — 2,787,502 Other Assets: Money market funds - restricted 4,258 — — 4,258 4,237 — — 4,237 Total Financial Assets $ 1,377,823 $ 1,313,487 $ — $ 2,691,310 $ 1,283,429 $ 1,729,692 $ — $ 3,013,121 ______________________________________ (1) As of June 30, 2022 and December 31, 2021, all of our certificates of deposits were domestic deposits. (2) The $16.7 million represents the fair value of marketable equity securities as of June 30, 2022. This amount includes $8.3 million that was reclassified from Investments on our condensed consolidated balance sheet following the commencement of public market trading of the issuer in January 2022. This publicly-traded equity investment generated an unrealized gain of $8.4 million for the six months ended June 30, 2022, and an unrealized loss of $5.1 million for the three months ended June 30, 2022. The unrealized gains and losses are included in Other income (expense), net on the Condensed Consolidated Statements of Operations. Refer to Note 3. Financial Statements Details. As of June 30, 2022 As of December 31, 2021 Amortized Cost Unrealized Gains Unrealized Losses Fair Value Amortized Cost Unrealized Gains Unrealized Losses Fair Value Commercial paper $ 18,462 $ — $ — $ 18,462 $ 141,274 $ — $ — $ 141,274 U.S. government 1,098,360 — (16,276) 1,082,084 1,060,716 3 (2,909) 1,057,810 Corporate bonds 1,083,803 6 (17,224) 1,066,585 1,255,149 105 (3,028) 1,252,226 Agency securities 214,687 1 (2,920) 211,768 291,558 36 (333) 291,261 Total $ 2,415,312 $ 7 $ (36,420) $ 2,378,899 $ 2,748,697 $ 144 $ (6,270) $ 2,742,571
Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value	The following table is an analysis of our marketable debt securities in unrealized loss positions (in thousands): As of June 30, 2022 Unrealized Losses within 12 months Unrealized Losses 12 months or greater Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses U.S. government notes $ 1,082,084 $ (16,276) $ — $ — $ 1,082,084 $ (16,276) Corporate bonds 995,771 (16,075) 65,373 (1,149) 1,061,144 (17,224) Agency securities 206,768 (2,920) — — 206,768 (2,920) Total $ 2,284,623 $ (35,271) $ 65,373 $ (1,149) $ 2,349,996 $ (36,420)
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 thousands): As of June 30, 2022 Fair Value Due in 1 year or less $ 1,700,701 Due in 1 to 2 years 678,198 Total debt securities $ 2,378,899
Equity Securities without Readily Determinable Fair Value	The following table summarizes the activity related to our non-marketable equity securities as of June 30, 2022 and December 31, 2021 (in thousands): June 30, 2022 December 31, 2021 Cost of investments (1) $ 23,263 $ 14,933 Cumulative impairment — — Cumulative upward adjustment (1) 15,000 5,314 Carrying amount of investments $ 38,263 $ 20,247

Financial Statements Details (T

Financial Statements Details (Tables)	6 Months Ended
Financial Statements Details (Tables)	Jun. 30, 2022
Balance Sheet Components [Abstract]
Schedule of Cash, Cash Equivalents and Restricted Cash	The reconciliation of cash, cash equivalents and restricted cash reported on the unaudited condensed consolidated balance sheets to the total of the same such amounts in the unaudited condensed consolidated statements of cash flows is as follows (in thousands): June 30, 2022 December 31, 2021 Cash and cash equivalents $ 493,246 $ 620,813 Restricted cash included in other assets 4,258 4,237 Total cash, cash equivalents and restricted cash $ 497,504 $ 625,050
Schedule of Accounts Receivable, Net	Accounts receivable, net consists of the following (in thousands): June 30, 2022 December 31, 2021 Accounts receivable $ 598,380 $ 521,597 Allowance for doubtful accounts (207) (132) Product sales rebate and returns reserve (12,387) (4,956) Accounts receivable, net $ 585,786 $ 516,509
Schedule of Inventories	Inventories consist of the following (in thousands): June 30, 2022 December 31, 2021 Raw materials $ 462,396 $ 316,737 Finished goods 390,414 333,380 Total inventories $ 852,810 $ 650,117
Schedule of Prepaid Expenses and Other Current Assets	Prepaid expenses and other current assets consist of the following (in thousands): June 30, 2022 December 31, 2021 Inventory deposits $ 98,099 $ 46,311 Prepaid income taxes 10,189 8,977 Other current assets 256,102 163,916 Other prepaid expenses and deposits 24,307 18,531 Total prepaid expenses and other current assets $ 388,697 $ 237,735
Schedule of Property and Equipment, Net	Property and equipment, net consists of the following (in thousands): June 30, 2022 December 31, 2021 Land $ 40,485 $ 40,145 Equipment and machinery 111,646 90,915 Computer hardware and software 47,376 44,083 Leasehold improvements 30,208 30,502 Furniture and fixtures 3,612 3,634 Construction-in-process 2,207 2,378 Property and equipment, gross 235,534 211,657 Less: accumulated depreciation (143,711) (133,023) Property and equipment, net $ 91,823 $ 78,634
Schedule of Accrued Liabilities	Accrued liabilities consist of the following (in thousands): June 30, 2022 December 31, 2021 Accrued payroll related costs $ 78,066 $ 99,571 Accrued manufacturing costs 79,949 80,213 Accrued product development costs 24,311 22,188 Accrued warranty costs 13,288 10,414 Other 14,720 14,257 Total accrued liabilities $ 210,334 $ 226,643
Schedule of Warranty Accrual	The following table summarizes the activity related to our accrued liability for estimated future warranty costs (in thousands): Six Months Ended June 30, 2022 2021 Warranty accrual, beginning of period $ 10,414 $ 9,314 Liabilities accrued for warranties issued during the period 8,441 5,603 Warranty costs incurred during the period (5,567) (5,922) Warranty accrual, end of period $ 13,288 $ 8,995
Schedule of Contract Assets, Contract Liabilities and Deferred Revenue	The following table summarizes the beginning and ending balances of our contract assets included in "Prepaid and other current assets" on the condensed consolidated balance sheets (in thousands): Six Months Ended June 30, 2022 Contract assets, beginning balance $ 24,388 Contract assets, ending balance 29,237 Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Contract liabilities, beginning balance $ 98,422 $ 80,465 $ 93,382 $ 85,957 Less: Revenue recognized from beginning balance (8,589) (8,482) (19,076) (18,482) Less: Beginning balance reclassified to deferred revenue (4,338) (3,856) (3,606) (12,710) Add: Contract liabilities recognized 16,105 15,227 30,900 28,589 Contract liabilities, ending balance $ 101,600 $ 83,354 $ 101,600 $ 83,354 Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Deferred revenue, beginning balance $ 1,123,746 $ 720,031 $ 929,312 $ 650,827 Less: Revenue recognized from beginning balance (309,594) (145,556) (322,954) (222,865) Add: Deferral of revenue in current period, excluding amounts recognized during the period 219,338 171,615 427,132 318,128 Deferred revenue, ending balance $ 1,033,490 $ 746,090 $ 1,033,490 $ 746,090
Schedule of Other Income (Expense), Net	Other income (expense), net consists of the following (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Interest income $ 4,427 $ 1,872 $ 6,855 $ 3,917 Unrealized gain (loss) on equity investments (5,084) — 23,413 — Other income (expense), net 124 (153) 679 (623) Total $ (533) $ 1,719 $ 30,947 $ 3,294

Acquisition, Goodwill and Acq_2

Acquisition, Goodwill and Acquisition-Related Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2022
Business Combination and Asset Acquisition [Abstract]
Schedule of Acquisition-Related Intangible Assets	The following table sets forth the components of identifiable intangible assets acquired and their estimated useful lives as of the date of acquisition (in thousands, except years): Acquisition Date Fair Value Weighted Average Estimated Useful Life (in years) Developed technology $ 30,200 5.7 Customer relationships 28,700 7.0 Trade name 3,400 3.0 Total intangible assets acquired $ 62,300
Schedule of Goodwill	The changes in the carrying values of goodwill for the three and six months ended June 30, 2022 are as follows (in thousands): Amount Balance at December 31, 2021 $ 188,397 Additions related to the acquisition completed in January, 2022 28,518 Balance at March 31, 2022 $ 216,915 Additions related to the acquisition completed in June, 2022 56,530 Measurement-period adjustments to the acquisition completed in January, 2022 49 Balance at June 30, 2022 $ 273,494
Schedule of Finite-Lived Intangible Assets	Acquisition-related intangible assets were as follows (in thousands, except years): Gross Carrying Amount Accumulated Amortization Net Carrying Amount Weighted Average Remaining Useful Life (in years) December 31, 2021 Additions June 30, 2022 December 31, 2021 Amortization June 30, 2022 December 31, 2021 June 30, 2022 Developed technology $ 124,730 $ 30,200 $ 154,930 $ (53,663) $ (11,732) $ (65,395) $ 71,067 $ 89,535 4.7 Customer relationships 25,920 28,700 54,620 (7,899) (2,347) (10,246) 18,021 44,374 6.1 Trade name 8,990 3,400 12,390 (4,693) (770) (5,463) 4,297 6,927 3.1 Others 5,720 — 5,720 (5,550) (170) (5,720) 170 — 0.0 Total $ 165,360 $ 62,300 $ 227,660 $ (71,805) $ (15,019) $ (86,824) $ 93,555 $ 140,836 5.1
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	As of June 30, 2022, future estimated amortization expense related to the acquisition-related intangible assets is as follows (in thousands): Future Amortization Expense Remainder of 2022 $ 18,630 2023 33,438 2024 26,759 2025 19,642 2026 17,260 Thereafter 25,107 Total $ 140,836

Stockholders_ Equity and Stoc_2

Stockholders’ Equity and Stock-Based Compensation (Tables)	6 Months Ended
Stockholders’ Equity and Stock-Based Compensation (Tables)	Jun. 30, 2022
Share-based Payment Arrangement [Abstract]
Schedule of Shares Repurchased	A summary of the stock repurchase activity under the New Repurchase Program for the six months ended June 30, 2022 is as follows (in thousands, except per share amounts): Six Months Ended June 30, 2022 Aggregate purchase price $ 619,888 Shares repurchased 5,954 Average price paid per share $ 104.11
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): Number of Weighted- Weighted- Aggregate Balance—December 31, 2021 8,685 $ 12.45 2.8 $ 1,140,369 Options granted — — Options exercised (1,230) 9.17 Options canceled (164) 16.44 Balance—June 30, 2022 7,291 $ 12.91 2.4 $ 589,386 Vested and exercisable—June 30, 2022 6,145 $ 10.58 2.0 $ 511,007
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, 2021 7,821 $ 70.98 1.7 $ 1,124,229 RSUs granted 2,873 99.57 RSUs vested (1,374) 63.72 RSUs forfeited/canceled (272) 74.77 Unvested balance—June 30, 2022 9,048 $ 81.16 1.9 $ 848,123
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 June 30, Six Months Ended June 30, 2022 2021 2022 2021 Cost of revenue $ 2,312 $ 1,796 $ 3,621 $ 3,196 Research and development 28,449 23,139 56,025 45,121 Sales and marketing 12,827 11,368 25,936 21,453 General and administrative 6,636 8,641 14,921 12,727 Total stock-based compensation $ 50,224 $ 44,944 $ 100,503 $ 82,497

Net Income Per Share (Tables)

Net Income Per Share (Tables)	6 Months Ended
Net Income Per Share (Tables)	Jun. 30, 2022
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 June 30, Six Months Ended June 30, 2022 2021 (1) 2022 2021 (1) Numerator: Net income $ 299,099 $ 196,888 $ 571,358 $ 377,254 Denominator: Weighted-average shares used in computing net income per share, basic 306,754 305,844 307,399 305,536 Add weighted-average effect of dilutive securities: Stock options and RSUs 9,695 12,764 10,509 12,940 Employee stock purchase plan 132 232 132 232 Weighted-average shares used in computing net income per share, diluted 316,581 318,840 318,040 318,708 Net income per share: Basic $ 0.98 $ 0.64 $ 1.86 $ 1.23 Diluted $ 0.94 $ 0.62 $ 1.80 $ 1.18 (1) Prior periods have been adjusted to reflect the four-for-one stock split effected in the form of a stock dividend in November 2021.
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 June 30, Six Months Ended June 30, 2022 2021 (1) 2022 2021 (1) Stock options and RSUs 781 404 423 460 Employee stock purchase plan — 80 8 60 Total 781 484 431 520 (1) Prior periods have been adjusted to reflect the four-for-one stock split effected in the form of a stock dividend in November 2021.

Income Taxes (Tables)

Income Taxes (Tables)	6 Months Ended
Income Taxes (Tables)	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Schedule of Income Tax Expense (Benefit)	Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Income before income taxes $ 362,320 $ 221,084 $ 671,787 $ 428,951 Provision for income taxes 63,221 24,196 100,429 51,697 Effective tax rate 17.4 % 10.9 % 14.9 % 12.1 %

Geographical Information (Table

Geographical Information (Tables)	6 Months Ended
Geographical Information (Tables)	Jun. 30, 2022
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 June 30, Six Months Ended June 30, 2022 2021 2022 2021 Americas $ 845,055 $ 514,149 $ 1,509,432 $ 1,016,021 Europe, Middle East and Africa 104,538 112,048 239,343 208,322 Asia-Pacific 102,298 81,122 180,182 150,538 Total revenue $ 1,051,891 $ 707,319 $ 1,928,957 $ 1,374,881 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 thousands): June 30, 2022 December 31, 2021 United States $ 70,216 $ 62,163 International 21,607 16,471 Total $ 91,823 $ 78,634

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Fair Value of Financial Assets (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Assets, Fair Value Disclosure [Abstract]
Cash Equivalents, Fair Value	$ 278,396		$ 278,396		$ 221,382
Marketable Securities, Fair Value	2,378,899		2,378,899		2,742,571
Total Financial Assets, Fair Value	2,691,310		2,691,310		3,013,121
Unrealized gain (loss) on equity investments	(5,084)	$ 0	23,413	$ 0
Fair Value to Amortized Cost
Amortized Cost	2,415,312		2,415,312		2,748,697
Unrealized Gains	7		7		144
Unrealized Losses	(36,420)		(36,420)		(6,270)
Fair Value	2,378,899		2,378,899		2,742,571
Level I
Assets, Fair Value Disclosure [Abstract]
Cash Equivalents, Fair Value	274,754		274,754		221,382
Total Financial Assets, Fair Value	1,377,823		1,377,823		1,283,429
Level II
Assets, Fair Value Disclosure [Abstract]
Cash Equivalents, Fair Value	3,642		3,642		0
Total Financial Assets, Fair Value	1,313,487		1,313,487		1,729,692
Level III
Assets, Fair Value Disclosure [Abstract]
Cash Equivalents, Fair Value	0		0		0
Total Financial Assets, Fair Value	0		0		0
Commercial paper
Assets, Fair Value Disclosure [Abstract]
Marketable Securities, Fair Value	18,462		18,462		141,274
Fair Value to Amortized Cost
Amortized Cost	18,462		18,462		141,274
Unrealized Gains	0		0		0
Unrealized Losses	0		0		0
Fair Value	18,462		18,462		141,274
Commercial paper \| Level I
Assets, Fair Value Disclosure [Abstract]
Marketable Securities, Fair Value	0		0		0
Fair Value to Amortized Cost
Fair Value	0		0		0
Commercial paper \| Level II
Assets, Fair Value Disclosure [Abstract]
Marketable Securities, Fair Value	18,462		18,462		141,274
Fair Value to Amortized Cost
Fair Value	18,462		18,462		141,274
Commercial paper \| Level III
Assets, Fair Value Disclosure [Abstract]
Marketable Securities, Fair Value	0		0		0
Fair Value to Amortized Cost
Fair Value	0		0		0
Certificate of deposits
Assets, Fair Value Disclosure [Abstract]
Marketable Securities, Fair Value	13,030		13,030		44,931
Fair Value to Amortized Cost
Fair Value	13,030		13,030		44,931
Certificate of deposits \| Level I
Assets, Fair Value Disclosure [Abstract]
Marketable Securities, Fair Value	0		0		0
Fair Value to Amortized Cost
Fair Value	0		0		0
Certificate of deposits \| Level II
Assets, Fair Value Disclosure [Abstract]
Marketable Securities, Fair Value	13,030		13,030		44,931
Fair Value to Amortized Cost
Fair Value	13,030		13,030		44,931
Certificate of deposits \| Level III
Assets, Fair Value Disclosure [Abstract]
Marketable Securities, Fair Value	0		0		0
Fair Value to Amortized Cost
Fair Value	0		0		0
U.S. government notes
Assets, Fair Value Disclosure [Abstract]
Marketable Securities, Fair Value	1,082,084		1,082,084		1,057,810
Fair Value to Amortized Cost
Amortized Cost	1,098,360		1,098,360		1,060,716
Unrealized Gains	0		0		3
Unrealized Losses	(16,276)		(16,276)		(2,909)
Fair Value	1,082,084		1,082,084		1,057,810
U.S. government notes \| Level I
Assets, Fair Value Disclosure [Abstract]
Marketable Securities, Fair Value	1,082,084		1,082,084		1,057,810
Fair Value to Amortized Cost
Fair Value	1,082,084		1,082,084		1,057,810
U.S. government notes \| Level II
Assets, Fair Value Disclosure [Abstract]
Marketable Securities, Fair Value	0		0		0
Fair Value to Amortized Cost
Fair Value	0		0		0
U.S. government notes \| Level III
Assets, Fair Value Disclosure [Abstract]
Marketable Securities, Fair Value	0		0		0
Fair Value to Amortized Cost
Fair Value	0		0		0
Corporate bonds
Assets, Fair Value Disclosure [Abstract]
Marketable Securities, Fair Value	1,066,585		1,066,585		1,252,226
Fair Value to Amortized Cost
Amortized Cost	1,083,803		1,083,803		1,255,149
Unrealized Gains	6		6		105
Unrealized Losses	(17,224)		(17,224)		(3,028)
Fair Value	1,066,585		1,066,585		1,252,226
Corporate bonds \| Level I
Assets, Fair Value Disclosure [Abstract]
Marketable Securities, Fair Value	0		0		0
Fair Value to Amortized Cost
Fair Value	0		0		0
Corporate bonds \| Level II
Assets, Fair Value Disclosure [Abstract]
Marketable Securities, Fair Value	1,066,585		1,066,585		1,252,226
Fair Value to Amortized Cost
Fair Value	1,066,585		1,066,585		1,252,226
Corporate bonds \| Level III
Assets, Fair Value Disclosure [Abstract]
Marketable Securities, Fair Value	0		0		0
Fair Value to Amortized Cost
Fair Value	0		0		0
Agency securities
Assets, Fair Value Disclosure [Abstract]
Marketable Securities, Fair Value	211,768		211,768		291,261
Fair Value to Amortized Cost
Amortized Cost	214,687		214,687		291,558
Unrealized Gains	1		1		36
Unrealized Losses	(2,920)		(2,920)		(333)
Fair Value	211,768		211,768		291,261
Agency securities \| Level I
Assets, Fair Value Disclosure [Abstract]
Marketable Securities, Fair Value	0		0		0
Fair Value to Amortized Cost
Fair Value	0		0		0
Agency securities \| Level II
Assets, Fair Value Disclosure [Abstract]
Marketable Securities, Fair Value	211,768		211,768		291,261
Fair Value to Amortized Cost
Fair Value	211,768		211,768		291,261
Agency securities \| Level III
Assets, Fair Value Disclosure [Abstract]
Marketable Securities, Fair Value	0		0		0
Fair Value to Amortized Cost
Fair Value	0		0		0
Marketable equity securities
Assets, Fair Value Disclosure [Abstract]
Marketable Securities, Fair Value	16,727		16,727		0
Fair value of securities reclassified			8,300
Unrealized gain (loss) on equity investments	(5,100)		8,400
Fair Value to Amortized Cost
Fair Value	16,727		16,727		0
Marketable equity securities \| Level I
Assets, Fair Value Disclosure [Abstract]
Marketable Securities, Fair Value	16,727		16,727		0
Fair Value to Amortized Cost
Fair Value	16,727		16,727		0
Marketable equity securities \| Level II
Assets, Fair Value Disclosure [Abstract]
Marketable Securities, Fair Value	0		0		0
Fair Value to Amortized Cost
Fair Value	0		0		0
Marketable equity securities \| Level III
Assets, Fair Value Disclosure [Abstract]
Marketable Securities, Fair Value	0		0		0
Fair Value to Amortized Cost
Fair Value	0		0		0
Marketable Securities
Assets, Fair Value Disclosure [Abstract]
Marketable Securities, Fair Value	2,408,656		2,408,656		2,787,502
Fair Value to Amortized Cost
Fair Value	2,408,656		2,408,656		2,787,502
Marketable Securities \| Level I
Assets, Fair Value Disclosure [Abstract]
Marketable Securities, Fair Value	1,098,811		1,098,811		1,057,810
Fair Value to Amortized Cost
Fair Value	1,098,811		1,098,811		1,057,810
Marketable Securities \| Level II
Assets, Fair Value Disclosure [Abstract]
Marketable Securities, Fair Value	1,309,845		1,309,845		1,729,692
Fair Value to Amortized Cost
Fair Value	1,309,845		1,309,845		1,729,692
Marketable Securities \| Level III
Assets, Fair Value Disclosure [Abstract]
Marketable Securities, Fair Value	0		0		0
Fair Value to Amortized Cost
Fair Value	0		0		0
Money market funds - restricted
Assets, Fair Value Disclosure [Abstract]
Other Assets, Fair Value	4,258		4,258		4,237
Money market funds - restricted \| Level I
Assets, Fair Value Disclosure [Abstract]
Other Assets, Fair Value	4,258		4,258		4,237
Money market funds - restricted \| Level II
Assets, Fair Value Disclosure [Abstract]
Other Assets, Fair Value	0		0		0
Money market funds - restricted \| Level III
Assets, Fair Value Disclosure [Abstract]
Other Assets, Fair Value	0		0		0
Money market funds
Assets, Fair Value Disclosure [Abstract]
Cash Equivalents, Fair Value	274,754		274,754		221,382
Money market funds \| Level I
Assets, Fair Value Disclosure [Abstract]
Cash Equivalents, Fair Value	274,754		274,754		221,382
Money market funds \| Level II
Assets, Fair Value Disclosure [Abstract]
Cash Equivalents, Fair Value	0		0		0
Money market funds \| Level III
Assets, Fair Value Disclosure [Abstract]
Cash Equivalents, Fair Value	0		0		0
Commercial paper
Assets, Fair Value Disclosure [Abstract]
Cash Equivalents, Fair Value	3,642		3,642		0
Commercial paper \| Level I
Assets, Fair Value Disclosure [Abstract]
Cash Equivalents, Fair Value	0		0		0
Commercial paper \| Level II
Assets, Fair Value Disclosure [Abstract]
Cash Equivalents, Fair Value	3,642		3,642		0
Commercial paper \| Level III
Assets, Fair Value Disclosure [Abstract]
Cash Equivalents, Fair Value	$ 0		$ 0		$ 0

Fair Value Measurements - Unrea

Fair Value Measurements - Unrealized Loss Position (Details) $ in Thousands	Jun. 30, 2022 USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unrealized Losses within 12 months, Fair Value	$ 2,284,623
Unrealized Losses within 12 months, Unrealized Losses	(35,271)
Unrealized Losses 12 months or greater, Fair Value	65,373
Unrealized Losses 12 months or greater, Unrealized Losses	(1,149)
Total, Fair Value	2,349,996
Total, Unrealized Losses	(36,420)
U.S. government notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unrealized Losses within 12 months, Fair Value	1,082,084
Unrealized Losses within 12 months, Unrealized Losses	(16,276)
Unrealized Losses 12 months or greater, Fair Value	0
Unrealized Losses 12 months or greater, Unrealized Losses	0
Total, Fair Value	1,082,084
Total, Unrealized Losses	(16,276)
Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unrealized Losses within 12 months, Fair Value	995,771
Unrealized Losses within 12 months, Unrealized Losses	(16,075)
Unrealized Losses 12 months or greater, Fair Value	65,373
Unrealized Losses 12 months or greater, Unrealized Losses	(1,149)
Total, Fair Value	1,061,144
Total, Unrealized Losses	(17,224)
Agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unrealized Losses within 12 months, Fair Value	206,768
Unrealized Losses within 12 months, Unrealized Losses	(2,920)
Unrealized Losses 12 months or greater, Fair Value	0
Unrealized Losses 12 months or greater, Unrealized Losses	0
Total, Fair Value	206,768
Total, Unrealized Losses	$ (2,920)

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) $ in Millions	6 Months Ended
Fair Value Measurements - Narrative (Details) $ in Millions	Jun. 30, 2022 USD ($)
Fair Value Disclosures [Abstract]
Invested marketable securities, maximum maturity period	2 years
Marketable securities, maximum maturity period	24 months
Marketable securities, weighted average remaining duration	9 months 18 days
Unrealized gain on non-marketable equity securities	$ 15

Fair Value Measurements - Inves

Fair Value Measurements - Investment by Maturity Dates (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Due in 1 year or less	$ 1,700,701
Due in 1 to 2 years	678,198
Total debt securities	$ 2,378,899	$ 2,742,571

Fair Value Measurements - Nonma

Fair Value Measurements - Nonmarketable Equity Securities (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cost of investments	$ 23,263	$ 14,933
Cumulative impairment	0	0
Cumulative upward adjustment	15,000	5,314
Carrying amount of investments	38,263	$ 20,247
Cost of investments, reclassified	3,000
Cumulative upward adjustment, reclassified	5,300
Marketable equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of securities reclassified	$ 8,300

Financial Statements Details -

Financial Statements Details - Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021	Jun. 30, 2021	Dec. 31, 2020
Balance Sheet Components [Abstract]
Cash and cash equivalents	$ 493,246	$ 620,813
Restricted cash included in other assets	4,258	4,237
Total cash, cash equivalents and restricted cash	$ 497,504	$ 625,050	$ 897,924	$ 897,454

Financial Statements Details _2

Financial Statements Details - Accounts Receivable, net (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Balance Sheet Components [Abstract]
Accounts receivable	$ 598,380	$ 521,597
Allowance for doubtful accounts	(207)	(132)
Product sales rebate and returns reserve	(12,387)	(4,956)
Accounts receivable, net	$ 585,786	$ 516,509

Financial Statements Details _3

Financial Statements Details - Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Balance Sheet Components [Abstract]
Raw materials	$ 462,396	$ 316,737
Finished goods	390,414	333,380
Total inventories	$ 852,810	$ 650,117

Financial Statements Details _4

Financial Statements Details - Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Balance Sheet Components [Abstract]
Inventory deposits	$ 98,099	$ 46,311
Prepaid income taxes	10,189	8,977
Other current assets	256,102	163,916
Other prepaid expenses and deposits	24,307	18,531
Total prepaid expenses and other current assets	$ 388,697	$ 237,735

Financial Statements Details _5

Financial Statements Details - Property and Equipment, net (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 235,534		$ 235,534		$ 211,657
Less: accumulated depreciation	(143,711)		(143,711)		(133,023)
Property and equipment, net	91,823		91,823		78,634
Depreciation	6,200	$ 4,800	11,800	$ 9,700
Land
Property, Plant and Equipment [Line Items]
Property and equipment, gross	40,485		40,485		40,145
Equipment and machinery
Property, Plant and Equipment [Line Items]
Property and equipment, gross	111,646		111,646		90,915
Computer hardware and software
Property, Plant and Equipment [Line Items]
Property and equipment, gross	47,376		47,376		44,083
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	30,208		30,208		30,502
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property and equipment, gross	3,612		3,612		3,634
Construction-in-process
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 2,207		$ 2,207		$ 2,378

Financial Statements Details _6

Financial Statements Details - Accrued Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021	Jun. 30, 2021	Dec. 31, 2020
Balance Sheet Components [Abstract]
Accrued payroll related costs	$ 78,066	$ 99,571
Accrued manufacturing costs	79,949	80,213
Accrued product development costs	24,311	22,188
Accrued warranty costs	13,288	10,414	$ 8,995	$ 9,314
Other	14,720	14,257
Total accrued liabilities	$ 210,334	$ 226,643

Financial Statements Details _7

Financial Statements Details - Warranty Accrual (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Warranty [Roll Forward]
Warranty accrual, beginning of period	$ 10,414	$ 9,314
Liabilities accrued for warranties issued during the period	8,441	5,603
Warranty costs incurred during the period	(5,567)	(5,922)
Warranty accrual, end of period	$ 13,288	$ 8,995

Financial Statements Details _8

Financial Statements Details - Contract Assets (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Change in Contract with Customer, Asset [Roll Forward]
Contract assets, beginning balance			$ 24,388
Contract assets, ending balance	$ 29,237		29,237
Change in Contract with Customer, Liability [Roll Forward]
Contract liabilities, beginning balance	98,422	$ 80,465	93,382	$ 85,957
Less: Revenue recognized from beginning balance	(8,589)	(8,482)	(19,076)	(18,482)
Less: Beginning balance reclassified to deferred revenue	(4,338)	(3,856)	(3,606)	(12,710)
Add: Contract liabilities recognized	16,105	15,227	30,900	28,589
Contract liabilities, ending balance	101,600	$ 83,354	101,600	$ 83,354
Other Current Liabilities
Change in Contract with Customer, Liability [Roll Forward]
Contract liabilities, beginning balance			38,700
Contract liabilities, ending balance	$ 41,400		$ 41,400

Financial Statements Details _9

Financial Statements Details - Deferred Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Change in Contract with Customer, Liability [Roll Forward]
Deferred revenue, beginning balance	$ 1,123,746	$ 720,031	$ 929,312	$ 650,827
Less: Revenue recognized from beginning balance	(309,594)	(145,556)	(322,954)	(222,865)
Add: Deferral of revenue in current period, excluding amounts recognized during the period	219,338	171,615	427,132	318,128
Deferred revenue, ending balance	$ 1,033,490	$ 746,090	$ 1,033,490	$ 746,090

Financial Statements Details_10

Financial Statements Details - Revenue from Total Remaining Performance Obligations (Details) $ in Millions	Jun. 30, 2022 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 1,313.3
Product
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	762.7
Unbilled Revenues
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 178.1
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, performance obligation, percentage	83%
Revenue, performance obligation, period	2 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-07-01 \| Product
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, performance obligation, period	2 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, performance obligation, percentage	17%
Revenue, performance obligation, period	3 years

Financial Statements Details_11

Financial Statements Details - Other Income (Expense), net (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Balance Sheet Components [Abstract]
Interest income	$ 4,427	$ 1,872	$ 6,855	$ 3,917
Unrealized gain (loss) on equity investments	(5,084)	0	23,413	0
Other income (expense), net	124	(153)	679	(623)
Total other income (expense), net	$ (533)	$ 1,719	$ 30,947	$ 3,294

Acquisition, Goodwill and Acq_3

Acquisition, Goodwill and Acquisition-Related Intangible Assets - Narrative (Details) $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2022 USD ($)	Mar. 31, 2022 USD ($)	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($) acquisition	Jun. 30, 2021 USD ($)
Business Acquisition [Line Items]
Number of completed acquisitions \| acquisition				2
Goodwill acquired	$ 56,530	$ 28,518
Amortization of intangible assets				$ 15,019
Privately-held Technology Company
Business Acquisition [Line Items]
Total fair value of consideration transferred				158,900
Common stock consideration				4,000
Intangible assets	62,300			62,300
Goodwill acquired				85,100
Net assets acquired	11,500			11,500
Acquisition related costs				4,700
Amortization of intangible assets	$ 7,700		$ 7,400	$ 15,000	$ 14,800

Acquisition, Goodwill and Acq_4

Acquisition, Goodwill and Acquisition-Related Intangible Assets - Identifiable Intangible Assets Acquired (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2022 USD ($)
Finite-Lived Intangible Assets [Line Items]
Weighted Average Estimated Useful Life (in years)	5 years 1 month 6 days
Developed technology
Finite-Lived Intangible Assets [Line Items]
Weighted Average Estimated Useful Life (in years)	4 years 8 months 12 days
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Weighted Average Estimated Useful Life (in years)	6 years 1 month 6 days
Trade name
Finite-Lived Intangible Assets [Line Items]
Weighted Average Estimated Useful Life (in years)	3 years 1 month 6 days
Privately-held Technology Company
Finite-Lived Intangible Assets [Line Items]
Acquisition-related intangible assets, net	$ 62,300
Privately-held Technology Company \| Developed technology
Finite-Lived Intangible Assets [Line Items]
Acquisition-related intangible assets, net	$ 30,200
Weighted Average Estimated Useful Life (in years)	5 years 8 months 12 days
Privately-held Technology Company \| Customer relationships
Finite-Lived Intangible Assets [Line Items]
Acquisition-related intangible assets, net	$ 28,700
Weighted Average Estimated Useful Life (in years)	7 years
Privately-held Technology Company \| Trade name
Finite-Lived Intangible Assets [Line Items]
Acquisition-related intangible assets, net	$ 3,400
Weighted Average Estimated Useful Life (in years)	3 years

Acquisition, Goodwill and Acq_5

Acquisition, Goodwill and Acquisition-Related Intangible Assets - Goodwill Rollforward (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2022
Goodwill [Roll Forward]
Goodwill, Beginning balance	$ 216,915	$ 188,397	$ 188,397
Additions related to the acquisition completed	56,530	28,518
Measurement period adjustments	49
Goodwill, Ending balance	$ 273,494	$ 216,915	$ 273,494

Acquisition, Goodwill and Acq_6

Acquisition, Goodwill and Acquisition-Related Intangible Assets - Acquisition-Related Intangible Assets (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2022 USD ($)	Dec. 31, 2021 USD ($)
Finite-lived Intangible Assets [Roll Forward]
Gross Carrying Amount, beginning balance	$ 165,360
Accumulated Amortization, beginning balance	(71,805)
Gross Carrying Amount, Additions	62,300
Accumulated Amortization, Amortization	(15,019)
Gross Carrying Amount, ending balance	227,660
Accumulated Amortization, ending balance	(86,824)
Net Carrying Amount	$ 140,836	$ 93,555
Weighted Average Estimated Useful Life (in years)	5 years 1 month 6 days
Developed technology
Finite-lived Intangible Assets [Roll Forward]
Gross Carrying Amount, beginning balance	$ 124,730
Accumulated Amortization, beginning balance	(53,663)
Gross Carrying Amount, Additions	30,200
Accumulated Amortization, Amortization	(11,732)
Gross Carrying Amount, ending balance	154,930
Accumulated Amortization, ending balance	(65,395)
Net Carrying Amount	$ 89,535	71,067
Weighted Average Estimated Useful Life (in years)	4 years 8 months 12 days
Customer relationships
Finite-lived Intangible Assets [Roll Forward]
Gross Carrying Amount, beginning balance	$ 25,920
Accumulated Amortization, beginning balance	(7,899)
Gross Carrying Amount, Additions	28,700
Accumulated Amortization, Amortization	(2,347)
Gross Carrying Amount, ending balance	54,620
Accumulated Amortization, ending balance	(10,246)
Net Carrying Amount	$ 44,374	18,021
Weighted Average Estimated Useful Life (in years)	6 years 1 month 6 days
Trade name
Finite-lived Intangible Assets [Roll Forward]
Gross Carrying Amount, beginning balance	$ 8,990
Accumulated Amortization, beginning balance	(4,693)
Gross Carrying Amount, Additions	3,400
Accumulated Amortization, Amortization	(770)
Gross Carrying Amount, ending balance	12,390
Accumulated Amortization, ending balance	(5,463)
Net Carrying Amount	$ 6,927	4,297
Weighted Average Estimated Useful Life (in years)	3 years 1 month 6 days
Others
Finite-lived Intangible Assets [Roll Forward]
Gross Carrying Amount, beginning balance	$ 5,720
Accumulated Amortization, beginning balance	(5,550)
Gross Carrying Amount, Additions	0
Accumulated Amortization, Amortization	(170)
Gross Carrying Amount, ending balance	5,720
Accumulated Amortization, ending balance	(5,720)
Net Carrying Amount	$ 0	$ 170
Weighted Average Estimated Useful Life (in years)	0 years

Acquisition, Goodwill and Acq_7

Acquisition, Goodwill and Acquisition-Related Intangible Assets - Future Estimated Amortization Expense (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Business Combination and Asset Acquisition [Abstract]
Remainder of 2022	$ 18,630
2023	33,438
2024	26,759
2025	19,642
2026	17,260
Thereafter	25,107
Net Carrying Amount	$ 140,836	$ 93,555

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	Mar. 30, 2022 patent	Nov. 25, 2020 patent	Jun. 30, 2022 USD ($)	Dec. 31, 2021 USD ($)
Long-term Purchase Commitment [Line Items]
Non-cancellable purchase commitments			$ 4,472.2
Non-cancellable purchase commitments, due in next twelve months			2,937.6
Non-cancelable purchase commitments, due after next twelve months			1,534.6
WSOU Investments, LLC
Long-term Purchase Commitment [Line Items]
Patents allegedly infringed, number \| patent		3
Patents found not infringed, number \| patent	1
Prepaid Expenses and Other Current Assets
Long-term Purchase Commitment [Line Items]
Deposits to purchase inventory			$ 100.8	$ 49.1

Stockholders_ Equity and Stoc_3

Stockholders’ Equity and Stock-Based Compensation - Narrative (Details) - USD ($)		1 Months Ended	3 Months Ended	6 Months Ended	12 Months Ended
	Jan. 01, 2022	Apr. 30, 2019	Mar. 31, 2022	Jun. 30, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Authorized amount for stock repurchases		$ 1,000,000,000			$ 1,000,000,000
Repurchase authorization period		3 years
Remaining authorized repurchase amount				$ 307,200,000
Unamortized compensation costs				$ 643,600,000
Unamortized compensation costs weighted-average period				3 years 7 months 6 days
2014 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of additional shares authorized for issuance (in shares)	9,230,434
Number of shares available for grant (in shares)				94,700,000
2014 Equity Incentive Plan \| Share-based Payment Arrangement, Option
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	3%
Maximum increase of number of shares available for issuance (in shares)					50,000,000
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			1%
2014 Employee Stock Purchase Plan \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for grant (in shares)					10,000,000
2014 Employee Stock Purchase Plan \| Employee Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of additional shares authorized for issuance (in shares)	3,076,811
Shares issued (in shares)				240,394
Weighted-average purchase price (in dollars per share)				$ 48.75
Common stock reserved for issuance (in shares)				20,800,000

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	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2022	Jun. 30, 2021
Share-based Payment Arrangement [Abstract]
Aggregate purchase price	$ 483,660	$ 619,888	$ 101,355
Shares repurchased (in shares)		5,954
Average price paid per share (in dollars per share)		$ 104.11

Stockholders_ Equity and Stoc_5

Stockholders’ Equity and Stock-Based Compensation - Option Activities (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Number of Shares Underlying Outstanding Options
Outstanding, beginning balance (in shares)	8,685
Options granted (in shares)	0
Options exercised (in shares)	(1,230)
Options canceled (in shares)	(164)
Outstanding, ending balance (in shares)	7,291	8,685
Vested and exercisable (in shares)	6,145
Weighted- Average Exercise Price per Share
Outstanding, beginning balance (in dollars per share)	$ 12.45
Options granted (in dollars per share)	0
Options exercised (in dollars per share)	9.17
Options canceled (in dollars per share)	16.44
Outstanding, ending balance (in dollars per share)	12.91	$ 12.45
Vested and exercisable (in dollars per share)	$ 10.58
Weighted- Average Remaining Contractual Term (Years) and Aggregate Intrinsic Value
Weighted-average remaining contractual term of stock options outstanding	2 years 4 months 24 days	2 years 9 months 18 days
Weighted-average remaining contractual term of stock options vested and exercisable	2 years
Aggregate intrinsic value of stock options outstanding	$ 589,386	$ 1,140,369
Aggregate intrinsic value of stock options outstanding, vested and exercisable	$ 511,007

Stockholders_ Equity and Stoc_6

Stockholders’ Equity and Stock-Based Compensation - Restricted Stock Unit (RSU) Activities (Details) - Restricted Stock Units (RSUs) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Number of Shares
Unvested beginning balance (in shares)	7,821
RSUs granted (in shares)	2,873
RSUs vested (in shares)	(1,374)
RSUs forfeited/canceled (in shares)	(272)
Unvested ending balance (in shares)	9,048	7,821
Weighted- Average Grant Date Fair Value Per Share
Unvested beginning balance (in dollars per share)	$ 70.98
RSUs granted (in dollars per share)	99.57
RSUs vested (in dollars per share)	63.72
RSUs forfeited/canceled (in dollars per share)	74.77
Unvested ending balance (in dollars per share)	$ 81.16	$ 70.98
Restricted Stock Unit Activities, Weighted-Average Remaining Contractual Term and Aggregate Intrinsic Value
Unvested, weighted average remaining contractual term (in years)	1 year 10 months 24 days	1 year 8 months 12 days
Unvested, aggregate intrinsic value	$ 848,123	$ 1,124,229

Stockholders_ Equity and Stoc_7

Stockholders’ Equity and Stock-Based Compensation - Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation	$ 50,224	$ 44,944	$ 100,503	$ 82,497
Cost of revenue
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation	2,312	1,796	3,621	3,196
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation	28,449	23,139	56,025	45,121
Sales and marketing
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation	12,827	11,368	25,936	21,453
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation	$ 6,636	$ 8,641	$ 14,921	$ 12,727

Net Income Per Share - Basic an

Net Income Per Share - Basic and Diluted Net Income Per Share (Details) $ / shares in Units, shares in Thousands, $ in Thousands		1 Months Ended	3 Months Ended		6 Months Ended
		Nov. 30, 2021	Jun. 30, 2022 USD ($) $ / shares shares	Jun. 30, 2021 USD ($) $ / shares shares	Jun. 30, 2022 USD ($) $ / shares shares	Jun. 30, 2021 USD ($) $ / shares shares
Numerator:
Net income \| $			$ 299,099	$ 196,888	$ 571,358	$ 377,254
Denominator:
Weighted-average shares used in computing net income per share, basic (in shares)	[1]		306,754	305,844	307,399	305,536
Add weighted-average effect of dilutive securities:
Stock options and RSUs (in shares)			9,695	12,764	10,509	12,940
Employee stock purchase plan (in shares)			132	232	132	232
Weighted-average shares used in computing net income per share, diluted (in shares)	[1]		316,581	318,840	318,040	318,708
Net income per share:
Basic (in dollars per share) \| $ / shares	[1]		$ 0.98	$ 0.64	$ 1.86	$ 1.23
Diluted (in dollars per share) \| $ / shares	[1]		$ 0.94	$ 0.62	$ 1.80	$ 1.18
Stock split ratio		4

[1]Prior periods have been adjusted to reflect the four-for-one stock split effected in the form of a stock dividend in November 2021.

Net Income Per Share - Antidilu

Net Income Per Share - Antidilutive Securities Excluded from Earnings Per Share (Details) shares in Thousands	1 Months Ended	3 Months Ended		6 Months Ended
	Nov. 30, 2021	Jun. 30, 2022 shares	Jun. 30, 2021 shares	Jun. 30, 2022 shares	Jun. 30, 2021 shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from earnings per share (in shares)		781	484	431	520
Stock split ratio	4
Stock options and RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from earnings per share (in shares)		781	404	423	460
Employee stock purchase plan
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from earnings per share (in shares)		0	80	8	60

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Income before income taxes	$ 362,320	$ 221,084	$ 671,787	$ 428,951
Provision for income taxes	$ 63,221	$ 24,196	$ 100,429	$ 51,697
Effective tax rate	17.40%	10.90%	14.90%	12.10%

Geographical Information (Detai

Geographical Information (Details) $ in Thousands	3 Months Ended		6 Months Ended
Geographical Information (Details) $ in Thousands	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($) segment	Jun. 30, 2021 USD ($)	Dec. 31, 2021 USD ($)
Revenues from External Customers and Long-Lived Assets [Line Items]
Number of reportable segments \| segment			1
Revenue	$ 1,051,891	$ 707,319	$ 1,928,957	$ 1,374,881
Long-lived assets	91,823		91,823		$ 78,634
Americas
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	845,055	514,149	1,509,432	1,016,021
Europe, Middle East and Africa
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	104,538	112,048	239,343	208,322
Asia-Pacific
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	102,298	$ 81,122	180,182	$ 150,538
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	70,216		70,216		62,163
International
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	$ 21,607		$ 21,607		$ 16,471