Other Balance Sheet Components

3 Months Ended

Mar. 31, 2025

Other Balance Sheet Components [Abstract]

7. Other Balance Sheet Components

Prepaid expenses and other current assets

Prepaid expenses and other current assets consisted of the following (in thousands):


	As of
	March 31, 2025		December 31, 2024
Prepaid expenses	$	60,618	$	47,919
Accrued interest receivable	21,680		19,690
Other current assets	6,672		7,806
Total prepaid expenses and other current assets	$	88,970	$	75,415

Property and equipment, net

Property and equipment, net, consisted of the following (in thousands):


	As of
	March 31, 2025		December 31, 2024
Servers and related equipment and software	$	928,353	$	898,598
Computer hardware and software licenses	44,521		55,002
Furniture and fixtures	2,035		2,121
Leasehold improvements	250,357		245,150
Construction in progress	14,821		46,158
Total property and equipment	1,240,087		1,247,029
Less accumulated depreciation and amortization	(622,960)		(587,440)
Property and equipment—net	$	617,127	$	659,589

Construction in progress primarily relates to networking and other infrastructure equipment to support the Company’s data centers.

Total depreciation and amortization expense of property and equipment was $49.6 million for the three months ended March 31, 2025 and $48.7 million for the three months ended March 31, 2024.

Accrued expenses and other current liabilities

Accrued expenses and other current liabilities consisted of the following (in thousands):


	As of
	March 31, 2025		December 31, 2024
Accrued operating expenses and liabilities	$	56,609	$	49,478
Short term operating lease liabilities	131,503		128,857
Accrued interest on the 2030 Notes	16,146		6,458
Taxes payable	47,517		54,609
Accrued compensation and other employee related liabilities	11,616		28,147
Other current liabilities	13,858		8,205
Total accrued expenses and other current liabilities	$	277,249	$	275,754