v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Dec. 31, 2025
Operating activities      
Net (loss) income $ (92,115) $ 49,485  
Adjustments to reconcile net (loss) income to net cash provided by operating activities:      
Depreciation and amortization 21,953 8,276  
Stock-based compensation 36,862 24,858  
Change in fair value of equity securities 9,682 0 $ (4,400)
Change in fair value of liabilities 17,646 0  
Net accretion on securities (242) (693)  
Benefit from deferred taxes (13,975) (890)  
Amortization of debt discount and issuance costs 1,701 0  
Non-cash operating lease cost 4,582 1,905  
Non-cash acquisition-related costs 6,367 1,030  
Non-cash restructuring and other related charges included within cost of revenue 28,462 0  
Non-cash other 982 832  
Changes in operating assets and liabilities:      
Receivables, net (116,247) (864)  
Inventory (20,303) (11,669)  
Prepaid expenses and other current assets 645 (16,375)  
Other long-term assets (8,364) 73  
Accounts payable 167,643 14,473  
Accrued liabilities 10,016 4,351  
Deferred revenue 37,980 35,480  
Earn-out payable (2,058) 0  
Operating lease liabilities (1,861) (1,182)  
Net cash provided by operating activities 89,356 109,090  
Investing activities      
Maturities of available-for-sale investments 93,253 31,342  
Proceeds from sales of available-for-sale investments 76,708 0  
Purchases of property, equipment, and intangible assets (29,844) (55,327)  
Investment in website development and internal-use software (6,480) (3,711)  
Acquisition of businesses, net of cash acquired (137,866) (5,100)  
Purchases of equity securities (11,217) 0  
Net cash used in investing activities (15,446) (32,796)  
Financing activities      
Proceeds from exercise of vested stock options 5,008 3,928  
Payments for taxes related to net share settlement of equity awards (39,206) (25,711)  
Payments for acquisition-related earn-out consideration (43,682) 0  
Payments for debt issuance costs 0 (1,235)  
Net cash used in financing activities (77,880) (23,018)  
Foreign currency effect on cash and cash equivalents (2,380) 243  
(Decrease) increase in cash, cash equivalents, and restricted cash (6,350) 53,519  
Cash, cash equivalents, and restricted cash at beginning of period 228,616 221,440 221,440
Cash, cash equivalents, and restricted cash at end of period 222,266 274,959 228,616
Reconciliation of cash, cash equivalents, and restricted cash      
Cash and cash equivalents 222,266 273,736 228,616
Restricted cash 0 1,223  
Total cash, cash equivalents, and restricted cash 222,266 274,959 $ 228,616
Supplemental disclosures of cash flow information      
Cash (received) paid for taxes, net of refunds (6,603) 360  
Cash paid for interest 1,050 0  
Non-cash investing and financing activities      
Purchases of property, equipment, and intangible assets included in accounts payable and accrued liabilities 8,828 11,019  
Right-of-use asset obtained in exchange for lease liability 9,518 52,459  
Contingent consideration and liabilities assumed in connection with acquisition of businesses 24,068 0  
Deferred debt issuance costs included in accounts payable and accrued liabilities 0 633  
Issuance of common stock in connection with asset acquisition 0 12,760  
Common stock to be issued for asset acquisition indemnification holdback $ 0 $ 6,380