v3.26.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 2,758,671 $ 2,487,096
Accounts receivable, net 1,958,023 1,819,366
Prepaid expenses and other current assets 130,881 124,330
Total current assets 4,847,575 4,430,792
Property and equipment, net 114,820 122,445
Goodwill 1,523,050 1,539,986
Intangible assets, net 368,996 396,714
Equity method investments 288,669 287,666
Other non-current assets 564,595 482,007
Total assets 7,707,705 7,259,610
Current liabilities:    
Accounts payable 697,524 746,977
Accrued and other current liabilities 796,858 586,811
Total current liabilities 1,494,382 1,333,788
Long-term debt 3,514,022 3,512,987
Other non-current liabilities 335,818 278,164
Total liabilities 5,344,222 5,124,939
Commitments and contingencies (Note 5)
Stockholders’ equity:    
Preferred Stock, $0.00003 par value—100,000 shares authorized, no shares issued and outstanding as of March 31, 2026 and December 31, 2025 0 0
Class A, Class B, and Class C Common Stock, $0.00003 par value—1,850,000 (Class A 1,500,000, Class B 200,000, Class C 150,000) shares authorized, 336,294 (Class A 306,087, Class B 30,208, Class C nil) and 338,313 (Class A 307,955, Class B 30,358, Class C nil) shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively 11 11
Additional paid-in capital 504,342 446,550
Accumulated other comprehensive loss (67,767) (46,987)
Retained earnings 1,926,897 1,735,097
Total stockholders’ equity 2,363,483 2,134,671
Total liabilities and stockholders’ equity $ 7,707,705 $ 7,259,610