v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN REDEEMABLE CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS’ EQUITY (unaudited) - USD ($)
$ in Thousands
Total
Treasury Stock
Additional paid-in capital
Accumulated deficit
Accumulated other comprehensive income (loss)
Noncontrolling interests
Class A common stock
Class A common stock
Class A common Stock
Class B common stock
Class B common stock
Class A common Stock
Temporary equity, beginning balance (in shares) at Dec. 31, 2024 139,762,000                  
Temporary equity, beginning balance at Dec. 31, 2024 $ 1,139,765                  
Temporary Equity                    
Issuance of common stock and preferred stock upon exercise of warrants (in shares) 45,000                  
Issuance of common stock and preferred stock upon exercise of warrants $ 737                  
Temporary equity, ending balance (in shares) at Mar. 31, 2025 139,807,000                  
Temporary equity, ending balance at Mar. 31, 2025 $ 1,140,502                  
Common stock, beginning balance (in shares) at Dec. 31, 2024               61,313,000   0
Beginning balance at Dec. 31, 2024 $ 570,529 $ (2,877) $ 1,792,969 $ (1,223,213) $ 3,644 $ 0   $ 6   $ 0
Treasury stock, beginning balance (in shares) at Dec. 31, 2024   4,960,000                
Permanent Equity                    
Issuance of common stock upon exercise of stock options (in shares) 1,009,000             1,009,000    
Issuance of common stock upon exercise of stock options $ 642   642              
Issuance of common stock and preferred stock upon exercise of warrants (in shares)               1,130,000    
Issuance of preferred stock for conversion of convertible notes, net 854   854              
Warrants in common stock 1,064   1,064              
Issuance of common stock in connection with acquisition (in shares)               3,857,000    
Issuance of common stock in connection with acquisitions 89,919   89,919              
Re-issuance of treasury stock to Circle Foundation 0                  
Stock-based compensation 15,440   15,440              
Other comprehensive income (loss), net of tax 1,725       1,725          
Other 12     12            
Net income 64,791     64,791            
Common stock, ending balance (in shares) at Mar. 31, 2025               67,310,000   0
Ending balance at Mar. 31, 2025 $ 744,976 $ (2,877) 1,900,888 (1,158,410) 5,369 0   $ 6   $ 0
Treasury stock, ending balance (in shares) at Mar. 31, 2025   4,960,000                
Temporary equity, beginning balance (in shares) at Dec. 31, 2025 0                  
Temporary equity, beginning balance at Dec. 31, 2025 $ 0                  
Temporary equity, ending balance (in shares) at Mar. 31, 2026 0                  
Temporary equity, ending balance at Mar. 31, 2026 $ 0                  
Common stock, beginning balance (in shares) at Dec. 31, 2025             223,600,000 228,286,000 18,700,000 18,665,000
Beginning balance at Dec. 31, 2025 $ 3,330,773 $ (2,721) 4,610,216 (1,292,709) 14,515 1,446   $ 24   $ 2
Treasury stock, beginning balance (in shares) at Dec. 31, 2025 4,700,000 4,692,000                
Permanent Equity                    
Issuance of common stock upon exercise of stock options (in shares) 2,543,000             2,483,000   60,000
Issuance of common stock upon exercise of stock options $ 14,412   14,411         $ 1    
Issuance of common stock upon settlement of restricted stock units, net of shares withheld (in shares)               1,688,000   60,000
Issuance of common stock upon settlement of restricted stock units, net of shares withheld (80,453)   (80,453)              
Issuance of common stock and preferred stock upon exercise of warrants (in shares)               525,000    
Issuance of preferred stock for conversion of convertible notes, net 4,659   4,659              
Re-issuance of treasury stock to Circle Foundation (in shares)   (67,060)                
Re-issuance of treasury stock to Circle Foundation 7,737 $ 38 7,699              
Conversion of Class A common stock to Class B (in shares)               70,000   (70,000)
Conversion of convertible debt, net (in shares)               465,000    
Conversion of convertible debt, net 39,382   39,382              
Vesting of restricted stock units and common stock in connection with business combinations (in shares)               37,000    
Stock-based compensation 61,279   61,279              
Other comprehensive income (loss), net of tax (6,172)       (6,148) (24)        
Capital contribution from noncontrolling interest 0   (12)     12        
Other 1,768   1,768              
Net income 55,246     55,253   (7)        
Common stock, ending balance (in shares) at Mar. 31, 2026             228,900,000 233,554,000 18,700,000 18,715,000
Ending balance at Mar. 31, 2026 $ 3,428,631 $ (2,683) $ 4,658,949 $ (1,237,456) $ 8,367 $ 1,427   $ 25   $ 2
Treasury stock, ending balance (in shares) at Mar. 31, 2026 4,600,000 4,625,000