v3.25.2
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 775,100 $ 726,100
Accounts receivable, net 67,200 59,700
Deferred costs, net 20,200 24,700
Prepaid expenses and other current assets 19,400 20,200
Total current assets 881,900 830,700
Property, equipment, and software, net 40,000 36,900
Intangible assets, net 26,400 24,500
Other assets 31,600 38,200
Total assets 979,900 930,300
Current liabilities:    
Content liabilities 102,000 104,100
Other accounts payable and accrued expenses 22,700 19,200
Accrued compensation and benefits 22,200 31,600
Deferred revenue, current 186,000 159,700
Other current liabilities 13,300 12,900
Total current liabilities 346,200 327,500
Deferred revenue, non-current 1,800 1,600
Other liabilities 4,900 3,800
Total liabilities 352,900 332,900
Commitments and contingencies (Note 9)
Stockholders’ equity:    
Preferred stock, $0.00001 par value—10.0 shares authorized and no shares issued and outstanding as of June 30, 2025 and December 31, 2024 0 0
Common stock, $0.00001 par value—300.0 shares authorized as of June 30, 2025 and December 31, 2024; 165.3 shares issued and 163.5 shares outstanding as of June 30, 2025, and 165.3 shares issued and 160.1 shares outstanding as of December 31, 2024 0 0
Additional paid-in capital 1,519,800 1,506,700
Treasury stock, at cost— 1.8 and 5.2 shares as of June 30, 2025 and December 31, 2024 (17,000) (49,100)
Accumulated deficit (875,800) (860,200)
Total stockholders’ equity 627,000 597,400
Total liabilities and stockholders’ equity $ 979,900 $ 930,300