The following table presents our significant expense categories included in our reported measure of segment profitability for the periods presented (in millions): | | | | | | | | | | | | | | | | | | | | Year Ended December 31, | | 2025 | | 2024 | | 2023 | | Revenue | $ | 2,583 | | | $ | 2,236 | | | $ | 1,945 | | | Less: | | | | | | | Headcount-related expenses, excluding share-based compensation | 1,187 | | | 1,110 | | | 993 | | | Share-based compensation | 390 | | | 448 | | | 451 | | | Depreciation and amortization | 264 | | | 240 | | | 187 | | Marketing and advertising costs | 191 | | | 194 | | | 155 | | Direct product and service costs | 300 | | | 184 | | | 144 | | Software and hardware costs | 113 | | | 98 | | | 85 | | Third-party professional service fees | 90 | | | 70 | | | 75 | | | Facility expenses | 26 | | | 28 | | | 59 | | Impairment and restructuring costs | 2 | | | 6 | | | 19 | | Acquisition-related costs | — | | | 1 | | | 4 | | Other items (1) | 54 | | | 54 | | | 43 | | | Loss from operations | (34) | | | (197) | | | (270) | | Gain (loss) on extinguishment of debt | — | | | (1) | | | 1 | | Other income, net | 77 | | | 127 | | | 151 | | Interest expense | (18) | | | (36) | | | (36) | | Income tax expense | (2) | | | (5) | | | (4) | | | Net income (loss) | $ | 23 | | | $ | (112) | | | $ | (158) | |
(1) Other items include taxes, insurance costs and data acquisition costs.
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