Segment Information
The Company's Chief Executive Officer, who is the chief operating decision maker ("CODM"), regularly assesses performance and decides how to allocate resources primarily based on consolidated net income reported in the Consolidated Income Statements. The CODM uses consolidated net income to assess performance and make operating decisions by monitoring consolidated net income actual results compared to forecasted results, as well as reviewing historical performance trends. The CODM also manages the Company’s operations by reviewing consolidated net revenues by products and services and consolidated expense information consistent with the financial statement line items reported in the Consolidated Income Statements. Significant expenses include cost of net revenues by products and services, sales and marketing expenses, research and development expenses, general and administrative expenses, restructuring charges, and provision for income taxes, all of which are presented in the Consolidated Income Statements. Other segment items primarily include interest income, interest expense, and foreign currency transactions gains and losses, which are presented in other income, net in the Consolidated Income Statements. The measure of segment assets is reported on the Consolidated Balance Sheets as total assets. The accounting policies and description of products and services are those described in Note 1.
Revenues by Geographic Location and Other Information
The Company does business in three main geographic regions: the Americas (primarily the United States); Europe, the Middle East, and Africa ("EMEA"); and the Asia Pacific region ("APAC"). The Company’s CODM reviews financial information presented on a consolidated basis accompanied by information about net product revenues and revenues by geographic region. The Company’s foreign offices conduct sales, marketing, research and development, and support activities. Revenues are attributed by geographic location based on the location of the end-user customer.
The following presents revenues by geographic region (in thousands):
| | | | | | | | | | | | | | | | | | | | |
| | | Years Ended September 30, |
| | | 2025 | | 2024 | | 2023 |
| Americas: | | | | | | |
| United States | | $ | 1,631,180 | | | $ | 1,488,413 | | | $ | 1,487,416 | |
| Other | | 92,889 | | | 92,859 | | | 96,958 | |
| Total Americas | | 1,724,069 | | | 1,581,272 | | | 1,584,374 | |
| EMEA | | 827,168 | | | 755,934 | | | 741,598 | |
| APAC | | 536,835 | | | 478,914 | | | 487,197 | |
| | $ | 3,088,072 | | | $ | 2,816,120 | | | $ | 2,813,169 | |
The Company continues to offer its products through a range of consumption models, from physical systems to software solutions and managed services. The following presents net product revenues by systems and software (in thousands):
| | | | | | | | | | | | | | | | | | | | |
| | | Years Ended September 30, |
| | | 2025 | | 2024 | | 2023 |
| Net product revenues | | | | | | |
| Systems revenue | | $ | 705,551 | | | $ | 537,318 | | | $ | 670,652 | |
| Software revenue | | 803,089 | | | 735,477 | | | 663,986 | |
| Total net product revenue | | $ | 1,508,640 | | | $ | 1,272,795 | | | $ | 1,334,638 | |
The following distributor customers accounted for more than 10% of total net revenue:
| | | | | | | | | | | | | | | | | | | | |
| | | Years Ended September 30, |
| | | 2025 | | 2024 | | 2023 |
| Customer A | | 15.8 | % | | 16.3 | % | | 15.6 | % |
| | | | | | |
| | | | | | |
| Customer B | | 17.5 | % | | 15.9 | % | | 15.0 | % |
| | | | | | |
| | | | | | |
The following distributor customers accounted for more than 10% of total receivables:
| | | | | | | | | | | | | | |
| | September 30, |
| | 2025 | | 2024 |
| | | | |
| Customer A | | 11.1 | % | | 20.3 | % |
| Customer B | | 17.8 | % | | 14.8 | % |
| | | | |
| Customer C | | 10.9 | % | | — | |
| Customer D | | 11.4 | % | | — | |
| | | | |
No end-user customers accounted for more than 10% of total net revenue or receivables. No other distributor customers accounted for more than 10% of total net revenue or receivables, other than those noted above.
The Company tracks assets by physical location. Long-lived assets consist of property and equipment, net, and are shown below (in thousands):
| | | | | | | | | | | | | | |
| | | September 30, |
| | | 2025 | | 2024 |
| Americas: | | | | |
| United States | | $ | 118,414 | | | $ | 112,420 | |
| Other | | 1,696 | | | 1,773 | |
| Total Americas | | 120,110 | | | 114,193 | |
| EMEA | | 20,985 | | | 21,970 | |
| APAC | | 15,852 | | | 14,780 | |
| | $ | 156,947 | | | $ | 150,943 | |