Share-Based Awards (Tables)

3 Months Ended

Mar. 31, 2026

Share-Based Payment Arrangement [Abstract]

The following table summarizes option award activity for the three months ended March 31, 2026:


	Number of Shares Subject to Existing Options (in thousands)	Weighted- Average Exercise Price Per Share		Weighted- Average Remaining Contractual Life (in years)	Aggregate Intrinsic Value (in millions)
Outstanding at January 1, 2026	27,303	$	49.79	5.7	$	565
Granted	4,487	43.61
Exercised	(658)	27.26
Forfeited or canceled	(168)	56.65
Outstanding at March 31, 2026	30,964	49.34		6.1	26
Vested and exercisable at March 31, 2026	22,189	48.28		5.0	24

Schedule of Fair Value of Options Granted, Estimated at Date of Grant Using Black Scholes Merton Option Pricing Model

The following assumptions were used to determine the fair value of option awards granted for the periods presented:


	Three Months Ended March 31,
	2026	2025
Expected volatility	54% - 56%	59% - 60%
Risk-free interest rate	3.87% - 3.98%	4.16% - 4.17%
Weighted-average expected life	5.8 - 7.0 years	5.3 - 6.8 years
Weighted-average fair value of options granted	$23.62	$43.41

Schedule of Restricted Stock Units Activity

The following table summarizes activity for restricted stock units for the three months ended March 31, 2026:


	Restricted Stock Units (in thousands)	Weighted-Average Grant Date Fair Value
Unvested outstanding at January 1, 2026	9,319	$	61.83
Granted	5,660	43.70
Vested	(1,456)	52.54
Forfeited	(426)	59.91
Unvested outstanding at March 31, 2026	13,097	$	55.09

Schedule of Effects of Share Based Compensation in Consolidated Statements of Operations

The following table presents the effects of share-based compensation expense in our condensed consolidated statements of operations during the periods presented (in millions):


	Three Months Ended March 31,
	2026		2025
Cost of revenue	$	2	$	3
Sales and marketing	16		18
Technology and development	33		38
General and administrative	30		38
Total share-based compensation	$	81	$	97