v3.25.4
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Current assets    
Cash and cash equivalents $ 1,132,009 $ 759,319
Short-term investments 705,172 1,225,124
Prepaid expenses and other current assets 1,082,334 966,090
Total current assets 2,919,515 2,950,533
Restricted cash and cash equivalents 705,361 186,721
Restricted investments 1,230,758 1,355,451
Other investments 47,066 42,516
Property and equipment, net 418,530 444,864
Operating lease right-of-use assets 165,579 148,397
Intangible assets, net 178,944 42,776
Goodwill 439,754 251,376
Deferred tax assets 2,906,135 435
Other assets 18,411 12,000
Total assets 9,030,053 5,435,069
Current liabilities    
Accounts payable 120,464 97,704
Insurance reserves 2,180,426 1,701,393
Accrued and other current liabilities 2,196,863 1,666,278
Operating lease liabilities, current 28,068 25,192
Convertible senior notes, current 0 390,175
Total current liabilities 4,525,821 3,880,742
Operating lease liabilities 159,904 152,074
Long-term debt, net of current portion 1,002,404 565,968
Other liabilities 68,401 69,269
Total liabilities 5,756,530 4,668,053
Commitments and contingencies (Note  10.)
Stockholders’ equity    
Preferred stock, $0.00001 par value; 1,000,000 shares authorized as of December 31, 2025 and December 31, 2024; no shares issued and outstanding as of December 31, 2025 and 2024 0 0
Common stock, $0.00001 par value; 18,000,000 Class A shares authorized as of December 31, 2025 and 2024; 400,856 and 409,474 Class A shares issued and outstanding as of December 31, 2025 and 2024, respectively; 87,220 and 100,000 Class B shares authorized as of December 31, 2025 and 2024; no Class B shares issued and outstanding as of December 31, 2025 and 8,531 Class B shares issued and outstanding as of December 31, 2024 4 4
Additional paid-in capital 10,687,017 11,035,246
Accumulated other comprehensive income (loss) 625 (10,103)
Accumulated deficit (7,414,123) (10,258,131)
Total stockholders’ equity 3,273,523 767,016
Total liabilities and stockholders’ equity $ 9,030,053 $ 5,435,069