v3.25.4
Other Balance Sheet Components
 12 Months Ended
Dec. 31, 2025
Other Balance Sheet Components [Abstract]  
Other Balance Sheet Components
7. Other Balance Sheet Components
Prepaid expenses and other current assets
Prepaid expenses and other current assets consisted of the following (in thousands):
As of December 31,
20252024
Prepaid expenses$63,015 $47,919 
Accrued interest receivable35,218 19,690 
Other current assets11,061 7,806 
Total prepaid expenses and other current assets
$109,294 $75,415 
Property and equipment, net
Property and equipment, net, consisted of the following (in thousands):
As of December 31,
20252024
Servers and related equipment and software$1,065,828 $898,598 
Computer hardware and software licenses58,716 55,002 
Furniture and fixtures2,369 2,121 
Leasehold improvements262,733 245,150 
Construction in progress10,657 46,158 
Prepayments for purchase of equipment and construction in progress
168,914 — 
Total property and equipment
1,569,217 1,247,029 
Less accumulated depreciation and amortization
(684,441)(587,440)
Property and equipment—net
$884,776 $659,589 
Construction in progress primarily relates to leasehold improvements for the Company’s leased office buildings, and networking and other infrastructure equipment to support the Company’s data centers.
Property and equipment, net, by geographic area was as follows (in thousands):
As of December 31,
20252024
United States
$762,181 $615,665 
Rest of world
122,595 43,924 
Total
$884,776 $659,589 
Total depreciation and amortization expense of property and equipment was $207.4 million, $207.5 million, and $188.9 million for years ended December 31, 2025, 2024, and 2023, respectively. In the third quarter of 2024, the Company re-assessed the estimated useful life of certain software licenses, resulting in the acceleration of their remaining depreciation expense of $17.9 million within infrastructure and trust & safety expenses.
Accrued expenses and other current liabilities
Accrued expenses and other current liabilities consisted of the following (in thousands):
As of December 31,
20252024
Accrued operating expenses and liabilities$67,414 $49,478 
Short-term operating lease liabilities151,550 128,857 
Accrued interest on the 2030 Notes6,458 6,458 
Taxes payable98,528 54,609 
Accrued compensation and other employee related liabilities47,586 28,147 
Short-term debt
14,700 — 
Other current liabilities10,215 8,205 
Total accrued expenses and other current liabilities
$396,451 $275,754