v3.25.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities:      
Consolidated net loss $ (1,071,618) $ (940,614) $ (1,158,937)
Adjustments to reconcile consolidated net loss to net cash and cash equivalents provided by operating activities:      
Depreciation and amortization expense 225,820 226,437 208,142
Stock-based compensation expense 1,129,004 1,015,794 867,967
Operating lease non-cash expense 120,277 118,119 97,063
(Accretion)/amortization on marketable securities, net (66,546) (82,835) (73,162)
Amortization of debt issuance costs 1,427 1,371 1,316
Impairment expense, (gain)/loss on investments and other asset sales, and other, net 4,031 3,072 8,969
Changes in operating assets and liabilities, net of effect of acquisitions:      
Accounts receivable (290,693) (110,479) (126,172)
Prepaid expenses and other current assets (33,778) (3,140) (12,770)
Deferred cost of revenue (331,395) (165,697) (139,879)
Other assets (6,390) (3,376) (5,961)
Accounts payable 25,352 (7,527) (3,475)
Accrued expenses and other current liabilities 83,931 (2,705) 8,680
Developer exchange liability 156,420 24,734 83,162
Deferred revenue 1,935,318 795,422 742,294
Operating lease liabilities (111,818) (77,428) (50,454)
Other long-term liabilities 27,016 31,168 11,397
Net cash and cash equivalents provided by operating activities 1,796,358 822,316 458,180
Cash flows from investing activities:      
Acquisition of property and equipment (440,978) (179,646) (320,667)
Payments related to business combination, net of cash acquired 0 (2,840) (3,859)
Purchases of intangible assets (2,500) (1,370) (13,500)
Purchases of investments (5,437,159) (4,642,540) (4,591,974)
Maturities of investments 3,676,551 3,351,970 1,642,719
Sales of investments 811,445 622,354 462,182
Net cash and cash equivalents used in investing activities (1,392,641) (852,072) (2,825,099)
Cash flows from financing activities:      
Proceeds from issuance of common stock 88,526 70,344 53,226
Financing payments related to acquisitions 0 (4,450) (750)
Proceeds from debt issuances 0 0 14,700
Net cash and cash equivalents provided by financing activities 88,526 65,894 67,176
Effect of exchange rate changes on cash and cash equivalents 1,393 (2,921) 735
Net increase/(decrease) in cash and cash equivalents 493,636 33,217 (2,299,008)
Cash and cash equivalents      
Beginning of period 711,683 678,466 2,977,474
End of period 1,205,319 711,683 678,466
Supplemental disclosure of cash flow information:      
Cash paid for interest 38,750 38,750 38,750
Supplemental disclosure of noncash investing and financing activities:      
Property and equipment additions in accounts payable, accrued expenses and other current liabilities, and other long-term liabilities 16,460 26,748 31,340
Intangible asset purchases in accounts payable $ 0 $ 0 $ 1,200