v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY - USD ($)
$ in Thousands
Total
Ordinary Shares
Ordinary Shares
Before The Conversion
Ordinary Shares
After The Conversion
Additional Paid-In Capital
Accumulated Other Comprehensive Loss
Accumulated Deficit
Balance at the beginning of period (in shares) at Dec. 31, 2023   1,359,513,224          
Shares, Issues, Reduction In Capital at Dec. 31, 2023 [1] 0            
Balance at the beginning of period (in shares) at Dec. 31, 2023   1,359,513,224          
Balance at the beginning of period at Dec. 31, 2023 $ 3,537,327 $ 135     $ 11,598,688 $ (99,446) $ (7,962,050)
Increase (Decrease) in Stockholders' Equity              
Issuance of shares reserved for share option exercises (in shares)   (3,634,952)          
Exercise of options, ESPP and release of RSUs (in shares)   3,646,097          
Exercise of options, ESPP and release of RSUs 15,663 $ 1     15,662    
Share-based compensation 88,667       88,667    
Deconsolidation of a subsidiary 2,052       2,052    
Other comprehensive income (loss) (32,198)         (32,198)  
Net income (loss) (251,150)           (251,150)
Balance at the end of period (in shares) at Mar. 31, 2024   1,359,524,369          
Balance at the end of period (in shares) at Mar. 31, 2024   1,359,524,369          
Balance at the end of period at Mar. 31, 2024 $ 3,360,361 $ 136     11,705,069 (131,644) (8,213,200)
Shares, Issues, Reduction In Capital at Mar. 31, 2024 [1] 0            
Balance at the beginning of period (in shares) at Dec. 31, 2023   1,359,513,224          
Shares, Issues, Reduction In Capital at Dec. 31, 2023 [1] 0            
Balance at the beginning of period (in shares) at Dec. 31, 2023   1,359,513,224          
Balance at the beginning of period at Dec. 31, 2023 $ 3,537,327 $ 135     11,598,688 (99,446) (7,962,050)
Increase (Decrease) in Stockholders' Equity              
Net income (loss) (371,555)            
Balance at the end of period (in shares) at Jun. 30, 2024   1,379,101,901          
Balance at the end of period (in shares) at Jun. 30, 2024   1,379,101,901          
Balance at the end of period at Jun. 30, 2024 $ 3,366,255 $ 137     11,840,197 (140,474) (8,333,605)
Shares, Issues, Reduction In Capital at Jun. 30, 2024 [1] 0            
Balance at the beginning of period (in shares) at Mar. 31, 2024   1,359,524,369          
Shares, Issues, Reduction In Capital at Mar. 31, 2024 [1] 0            
Balance at the beginning of period (in shares) at Mar. 31, 2024   1,359,524,369          
Balance at the beginning of period at Mar. 31, 2024 $ 3,360,361 $ 136     11,705,069 (131,644) (8,213,200)
Increase (Decrease) in Stockholders' Equity              
Issuance of shares reserved for share option exercises (in shares)   2,418,936          
Exercise of options, ESPP and release of RSUs (in shares)   17,158,596          
Exercise of options, ESPP and release of RSUs 4,492 $ 1     4,491    
Share-based compensation 130,637       130,637    
Other comprehensive income (loss) (8,830)         (8,830)  
Net income (loss) (120,405)           (120,405)
Balance at the end of period (in shares) at Jun. 30, 2024   1,379,101,901          
Balance at the end of period (in shares) at Jun. 30, 2024   1,379,101,901          
Balance at the end of period at Jun. 30, 2024 $ 3,366,255 $ 137     11,840,197 (140,474) (8,333,605)
Shares, Issues, Reduction In Capital at Jun. 30, 2024 [1] 0            
Balance at the beginning of period (in shares) at Dec. 31, 2024 1,387,367,704 1,387,367,704          
Shares, Issues, Reduction In Capital at Dec. 31, 2024 [1] 0            
Balance at the beginning of period (in shares) at Dec. 31, 2024 1,387,367,704 1,387,367,704          
Balance at the beginning of period at Dec. 31, 2024 $ 3,332,222 $ 138     12,087,908 (148,988) (8,606,836)
Increase (Decrease) in Stockholders' Equity              
Issuance of shares reserved for share option exercises (in shares)   402,532          
Exercise of options, ESPP and release of RSUs (in shares)   15,511,587          
Exercise of options, ESPP and release of RSUs 63,876 $ 2     63,874    
Share-based compensation 95,478       95,478    
Other comprehensive income (loss) 6,667         6,667  
Net income (loss) 1,270           1,270
Balance at the end of period (in shares) at Mar. 31, 2025   1,403,281,823          
Balance at the end of period (in shares) at Mar. 31, 2025   1,403,281,823          
Balance at the end of period at Mar. 31, 2025 $ 3,499,513 $ 140     12,247,260 (142,321) (8,605,566)
Shares, Issues, Reduction In Capital at Mar. 31, 2025 [1] 0            
Balance at the beginning of period (in shares) at Dec. 31, 2024 1,387,367,704 1,387,367,704          
Shares, Issues, Reduction In Capital at Dec. 31, 2024 [1] 0            
Balance at the beginning of period (in shares) at Dec. 31, 2024 1,387,367,704 1,387,367,704          
Balance at the beginning of period at Dec. 31, 2024 $ 3,332,222 $ 138     12,087,908 (148,988) (8,606,836)
Increase (Decrease) in Stockholders' Equity              
Other comprehensive income (loss) 35,290            
Net income (loss) $ 95,590            
Balance at the end of period (in shares) at Jun. 30, 2025 1,540,975,898 1,540,975,898          
Balance at the end of period (in shares) at Jun. 30, 2025 1,428,203,304 1,428,203,304          
Balance at the end of period at Jun. 30, 2025 $ 3,770,475 $ 143     12,395,276 (113,698) (8,511,246)
Shares, Issues, Reduction In Capital at Jun. 30, 2025 [1] (112,772,594)            
Balance at the beginning of period (in shares) at Mar. 31, 2025   1,403,281,823          
Shares, Issues, Reduction In Capital at Mar. 31, 2025 [1] 0            
Balance at the beginning of period (in shares) at Mar. 31, 2025   1,403,281,823          
Balance at the beginning of period at Mar. 31, 2025 $ 3,499,513 $ 140     12,247,260 (142,321) (8,605,566)
Increase (Decrease) in Stockholders' Equity              
Issuance of shares reserved for share option exercises [1] (112,772,594)            
Issuance of shares reserved for share option exercises (in shares) [1]     109,306,902 (3,465,692)      
Exercise of options, ESPP and release of RSUs (in shares)   28,387,173          
Exercise of options, ESPP and release of RSUs $ 32,733 $ 3     32,730    
Share-based compensation 150,809       150,809    
Withholding taxes from share-based awards (35,523)       (35,523)    
Other comprehensive income (loss) 28,623         28,623  
Net income (loss) $ 94,320           94,320
Balance at the end of period (in shares) at Jun. 30, 2025 1,540,975,898 1,540,975,898          
Balance at the end of period (in shares) at Jun. 30, 2025 1,428,203,304 1,428,203,304          
Balance at the end of period at Jun. 30, 2025 $ 3,770,475 $ 143     $ 12,395,276 $ (113,698) $ (8,511,246)
Shares, Issues, Reduction In Capital at Jun. 30, 2025 [1] (112,772,594)            
[1] Upon effectiveness of the redomiciliation to Switzerland, ordinary shares (including in the form of ADS) held by the Company or one of its controlled subsidiaries immediately prior to the effective date of the redomiciliation became part of the Company’s issued but not outstanding share capital and are considered own ordinary shares of the Company, or “treasury shares,” under Swiss law. The Company expects to use these treasury shares in the future to satisfy obligations to deliver shares in connection with awards granted under the Company’s equity incentive plans and agreements.