v3.26.1
Balance Sheet Components
 12 Months Ended
Dec. 31, 2025
Balance Sheet Related Disclosures [Abstract]  
Balance Sheet Components
6. BALANCE SHEET COMPONENTS
Accounts Receivable, net: Accounts receivable, net consisted of the following (in thousands):
 As of December 31,
 20252024
Accounts receivable, gross$960,319 $885,167 
Less: Allowances
Allowance for sales returns4,539 6,427 
Allowance for sales incentives70,839 63,367 
Allowance for credit losses3,073 1,895 
Other allowances1,997 968 
Total allowances80,448 72,657 
Accounts receivable, net $879,871 $812,510 
Property and Equipment, net: Property and equipment, net consisted of the following (in thousands):
 As of December 31,
 20252024
Computers and equipment$51,699 $51,741 
Leasehold improvements284,748 286,585 
Internal-use software5,904 5,916 
Office equipment and furniture36,075 35,691 
Property and equipment, gross378,426 379,933 
Less: Accumulated depreciation and amortization(204,849)(166,243)
Property and equipment, net$173,577 $213,690 
Depreciation and amortization expense for property and equipment assets was approximately $45.6 million, $48.5 million, and $53.3 million for the years ended December 31, 2025, 2024, and 2023, respectively.
There were no impairment charges related to property and equipment during the year ended December 31, 2025. During the years ended December 31, 2024 and 2023, the Company recorded impairment charges of $7.0 million and $72.3 million, respectively, related to property and equipment associated with the leased office facilities that are part of its restructuring efforts. See Note 18 for additional details.
Accrued Liabilities: Accrued liabilities consisted of the following (in thousands):
 As of December 31,
 20252024
Revenue share payable$311,488 $267,163 
Accrued cost of revenue173,171 149,135 
Marketing, retail, and merchandising expenses
95,887 112,001 
Operating lease liability, current87,425 79,221 
Accrued legal and licensing expenses68,843 33,625 
Content liability, current42,158 69,710 
Contingent consideration, current28,110 — 
Other accrued expenses150,901 141,944 
Total Accrued liabilities
$957,983 $852,799 
Deferred Revenue: Deferred revenue consisted of the following (in thousands):
 As of December 31,
20252024
Platform, current$64,107 $75,026 
Devices, current56,805 30,692 
Total deferred revenue, current120,912 105,718 
Platform, non-current1,499 — 
Devices, non-current27,349 25,050 
Total deferred revenue, non-current28,848 25,050 
Total Deferred revenue$149,760 $130,768 
Other Long-term Liabilities: Other Long-term liabilities consisted of the following (in thousands):
As of December 31,
20252024
Content liability, non-current$5,078 $18,453 
Contingent consideration, non-current40,006 — 
Other long-term liabilities28,172 22,485 
Total Other long-term liabilities$73,256 $40,938