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Condensed Consolidated Statements of Operations and Comprehensive Income (unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Revenue:        
Revenue $ 334,493 $ 235,336 $ 658,315 $ 379,059
Cost of revenue:        
Cost of revenue 204,198 162,029 407,750 260,984
Gross profit 130,295 73,307 250,565 118,075
Operating expenses:        
Research and development 20,606 8,636 36,304 17,807
Sales and marketing 33,030 13,437 60,519 25,884
General and administrative 12,507 5,473 24,926 11,173
Total operating expenses 66,143 27,546 121,749 54,864
Income from operations 64,152 45,761 128,816 63,211
Other income (expense), net 14 (368) (15) (942)
Income before provision for income taxes 64,166 45,393 128,801 62,269
Provision for income taxes 15,040 10,514 30,257 14,350
Net income 49,126 34,879 98,544 47,919
Other comprehensive income (loss):        
Foreign currency translation adjustment 4 (33) (9) 65
Comprehensive income 49,130 34,846 98,535 47,984
Net income $ 49,126 $ 34,879 $ 98,544 $ 47,919
Earnings per share, basic (in dollars per share) $ 0.24 $ 0.17 $ 0.47 $ 0.23
Earnings per share, diluted (in dollars per share) $ 0.22 $ 0.17 $ 0.46 $ 0.23
Weighted-average common shares outstanding, basic (in shares) 208,205,162 208,116,104 207,760,027 208,116,104
Weighted-average common shares outstanding, diluted (in shares) 222,947,030 208,116,104 216,403,427 208,116,104
Connected machines        
Revenue:        
Revenue $ 146,326 $ 113,388 $ 287,646 $ 170,276
Cost of revenue:        
Cost of revenue 116,217 95,543 235,909 147,120
Subscriptions        
Revenue:        
Revenue 50,673 24,028 96,812 43,208
Cost of revenue:        
Cost of revenue 5,285 3,122 9,583 5,963
Accessories and materials        
Revenue:        
Revenue 137,494 97,920 273,857 165,575
Cost of revenue:        
Cost of revenue $ 82,696 $ 63,364 $ 162,258 $ 107,901