| Schedule of Represents Segment Revenue, Significant Segment Expenses, and Other Segment Items |
The following represents segment information for the Company’s single operating segment, for the periods presented (in thousands): | | | | | | | | | | | | | | | | | | | Year ended December 31, | | 2025 | | 2024 | | 2023 | | Revenue | $ | 4,890,551 | | | $ | 3,601,979 | | | $ | 2,799,274 | | | Add (deduct): | | | | | | Cost of revenue(1) | (1,072,299) | | | (801,162) | | | (649,115) | | | Developer exchange fees | (1,503,106) | | | (922,821) | | | (740,752) | | Adjusted infrastructure expenses(2) | (682,357) | | | (465,782) | | | (458,753) | | Adjusted trust & safety expenses(2) | (286,505) | | | (254,300) | | | (239,711) | | | Personnel costs, excluding stock-based compensation expense and excluding infrastructure and trust & safety personnel costs | (860,658) | | | (729,424) | | | (691,899) | | | Stock-based compensation expense, excluding infrastructure and trust & safety stock-based compensation expense | (986,651) | | | (902,086) | | | (775,820) | | | Depreciation and amortization expense | (225,820) | | | (226,437) | | | (208,142) | | Other segment items(3) | (501,333) | | | (374,814) | | | (294,676) | | | Interest income | 201,610 | | | 179,531 | | | 141,818 | | | Interest expense | (41,457) | | | (41,184) | | | (40,707) | | | (Provision for)/benefit from income taxes | (3,593) | | | (4,114) | | | (454) | | | Consolidated net loss | $ | (1,071,618) | | | $ | (940,614) | | | $ | (1,158,937) | |
(1)Depreciation of servers and infrastructure equipment is included in infrastructure and trust & safety expenses in the Company’s consolidated statement of operations. (2)Adjusted infrastructure and adjusted trust & safety expenses exclude depreciation and amortization expense. (3)Other segment items primarily include expenses for professional services, facilities, advertising and promotions, transactional taxes, and other income/(expense), net
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