v3.25.4
Shareholders' Equity (Tables)
 12 Months Ended
Dec. 31, 2025
Equity [Abstract]  
Schedule of the Stock Option and RSU Award Activities
The following table summarizes the stock option and RSU award activities under the Company's share-based compensation plans for the years ended December 31, 2025 and 2024:
Shares Subject to Options OutstandingOutstanding RSUs
Number of Options(1)
Weighted Average Exercise PriceRemaining Contractual Term (in years)
Aggregate Intrinsic Value(2)
Weighted Average Grant Date Fair ValueOutstanding RSUsWeighted Average Grant Date Fair Value
(in US $ millions, except share and share price amounts)
December 31, 202311,462,631 49.887.09406 — 4,078,478 58.50 
Stock options granted6,065,237 75.75— — 39.74 — — 
Stock options exercised(2,576,628)23.83— — — — — 
Stock options forfeited(314,248)82.40— — — — — 
RSUs granted— —— — — 7,025,895 74.91 
RSUs settled— —— — — (5,433,218)63.95 
RSUs forfeited— —— — — (550,086)61.51 
December 31, 202414,636,992 64.497.68623 — 5,121,069 74.90 
Stock options granted1,746,047 125.35 — — 64.68 — — 
Stock options exercised(4,739,441)48.85 — — — — — 
Stock options forfeited(1,442,920)79.66 — — — — — 
RSUs granted— — — — — 3,755,264 124.55 
RSUs settled— — — — — (4,298,862)87.92 
RSUs forfeited— — — — — (1,090,585)81.80 
December 31, 202510,200,678 80.037.22826 — 3,486,886 110.16 
Stock options exercisable as of December 31, 20254,770,274 71.135.78429 
(1) As of December 31, 2025, 10,163,647 of the outstanding stock options were granted under the Company's SOP and are exercisable for Class A subordinate voting shares and 37,031 of the outstanding stock options were granted under the Deliverr 2017 Stock Option and Grant Plan and are exercisable for Class A subordinate voting shares.
(2) The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying stock option awards and the closing market price of the Company's Class A subordinate voting shares as of December 31, 2025 and December 31, 2024.
Schedule of Assumptions Used to Estimate the Fair Value of Stock Options
The grant weighted average assumptions used to estimate the fair value of stock options granted to employees were as follows:    
Years ended
December 31, 2025December 31, 2024
Expected volatility64.5 %65.6 %
Risk-free interest rate4.17 %4.17 %
Dividend yieldNilNil
Average expected term3.93.9
Schedule of Classification of Stock-based Compensation
The following table illustrates the classification of stock-based compensation in the consolidated statements of operations and comprehensive income, which includes both stock-based compensation and restricted share-based compensation expense:
Years ended
December 31, 2025December 31, 2024December 31, 2023
(in US $ millions)
Cost of revenues444
Sales and marketing(1)
444756
Research and development(1)
313287481
General and administrative889274
449430615
(1) Includes accelerated stock-based compensation of $5 million and $164 million in sales and marketing and research and development, respectively, during the year ended December 31, 2023