| Reportable Segments |
16. Reportable Segments The following represents segment information for the Company’s single operating segment, for the periods presented (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | | 2025 | | 2024 | | 2025 | | 2024 | | Revenue | $ | 1,080,677 | | | $ | 893,543 | | | $ | 2,115,884 | | | $ | 1,694,843 | | | Add (deduct): | | | | | | | | Cost of revenue(1) | $ | (236,113) | | | $ | (198,557) | | | $ | (460,838) | | | $ | (377,423) | | | Developer exchange fees | (316,371) | | | (208,270) | | | (597,935) | | | (410,675) | | Adjusted infrastructure expenses(2) | (146,531) | | | (113,016) | | | (276,635) | | | (228,031) | | Adjusted trust & safety expenses(2) | (70,208) | | | (62,665) | | | (138,445) | | | (128,394) | | | Personnel costs, excluding stock-based compensation expense and excluding infrastructure and trust & safety personnel costs | (215,201) | | | (178,758) | | | (423,065) | | | (376,020) | | | Stock-based compensation expense, excluding infrastructure and trust & safety stock-based compensation expense | (250,144) | | | (223,918) | | | (475,530) | | | (437,145) | | | Depreciation and amortization expense | (53,784) | | | (52,772) | | | (107,518) | | | (106,513) | | Other segment items(3) | (109,654) | | | (96,851) | | | (204,697) | | | (174,580) | | | Interest income | 48,844 | | | 44,383 | | | 95,167 | | | 86,553 | | | Interest expense | (10,342) | | | (10,204) | | | (20,692) | | | (20,567) | | | (Provision for)/benefit from income taxes | (973) | | | (110) | | | (1,836) | | | (1,163) | | | Consolidated net loss | $ | (279,800) | | | $ | (207,195) | | | $ | (496,140) | | | $ | (479,115) | |
(1)Depreciation of servers and infrastructure equipment included in infrastructure and trust & safety expenses in the Company’s consolidated statement of operations. (2)Adjusted infrastructure and adjusted trust & safety expenses exclude depreciation and amortization expense. (3)Other segment items primarily include expenses for professional services, facilities, advertising and promotions, certain software and equipment, and other income/(expense), net.
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