v3.25.2
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Jun. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 587 $ 1,082
Short-term investments 571 776
Accounts receivable, net 151 104
Mortgage loans held for sale 250 159
Prepaid expenses and other current assets 257 210
Restricted cash 5 3
Total current assets 1,821 2,334
Contract cost assets 28 25
Property and equipment, net 373 360
Right of use assets 62 59
Goodwill 2,823 2,823
Intangible assets, net 285 207
Other assets 24 21
Total assets 5,416 5,829
Current liabilities:    
Accounts payable 56 30
Accrued expenses and other current liabilities 121 105
Accrued compensation and benefits 57 57
Borrowings under credit facilities 230 145
Deferred revenue 70 62
Lease liabilities, current portion 12 14
Convertible senior notes 0 418
Total current liabilities 546 831
Lease liabilities, net of current portion 86 83
Other long-term liabilities 38 67
Total liabilities 670 981
Commitments and contingencies (Note 11)
Shareholders’ equity:    
Preferred stock, $0.0001 par value; authorized — 30,000,000 shares; no shares issued and outstanding 0 0
Additional paid-in capital 6,617 6,733
Accumulated other comprehensive income (loss) 1 (3)
Accumulated deficit (1,872) (1,882)
Total shareholders’ equity 4,746 4,848
Total liabilities and shareholders’ equity 5,416 5,829
Class A common stock    
Shareholders’ equity:    
Common stock/capital stock 0 0
Class B common Stock    
Shareholders’ equity:    
Common stock/capital stock 0 0
Class C capital stock    
Shareholders’ equity:    
Common stock/capital stock $ 0 $ 0