The following table presents our significant expense categories included in our reported measure of segment profitability for the periods presented (in millions): | | | | | | | | | | | | | | | | | | Three Months Ended March 31, | | | | 2026 | | 2025 | | | | | | Revenue | $ | 708 | | | $ | 598 | | | | | | | Less: | | | | | | | | | Headcount-related expenses, excluding share-based compensation | 304 | | | 288 | | | | | | | Direct product and service costs | 99 | | | 50 | | | | | | | Share-based compensation | 81 | | | 97 | | | | | | | Depreciation and amortization | 65 | | | 65 | | | | | | | Marketing and advertising costs | 45 | | | 43 | | | | | | Software and hardware costs | 34 | | | 26 | | | | | | | Third-party professional service fees | 31 | | | 17 | | | | | | | Facility expenses | 6 | | | 7 | | | | | | | Other items (1) | 7 | | | 14 | | | | | | Income (loss) from operations | 36 | | | (9) | | | | | | | Other income, net | 16 | | | 22 | | | | | | | Interest expense | (4) | | | (5) | | | | | | | Income tax expense | (2) | | | — | | | | | | Net income | $ | 46 | | | $ | 8 | | | | | |
(1) Other items include taxes, insurance costs, and data acquisition costs.
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