Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2026 |
Jun. 30, 2025 |
Jun. 30, 2026 |
Jun. 30, 2025 |
|
| Revenue: | ||||
| Revenue | $ 1,220,068 | $ 1,497,208 | $ 2,633,050 | $ 3,531,503 |
| Operating expenses: | ||||
| Transaction expense | 189,790 | 245,261 | 385,649 | 548,287 |
| Technology and development | 472,848 | 387,322 | 998,496 | 742,690 |
| Sales and marketing | 239,843 | 236,245 | 506,569 | 483,528 |
| General and administrative | 356,924 | 353,707 | 733,018 | 748,053 |
| Losses on crypto assets held for operations, net | 31,719 | (8,702) | 66,870 | 25,663 |
| Restructuring | 52,408 | 0 | 52,408 | 0 |
| Other operating (income) expense, net | (9,976) | 308,025 | 24,949 | 302,126 |
| Total operating expenses | 1,333,556 | 1,521,858 | 2,767,959 | 2,850,347 |
| Operating (loss) income | (113,488) | (24,650) | (134,909) | 681,156 |
| Interest expense | 22,516 | 20,535 | 45,085 | 41,046 |
| Losses on crypto assets held for investment, net | 209,499 | (362,053) | 691,855 | 234,598 |
| Other expense (income), net | 49,908 | (1,506,905) | (11,733) | (1,500,717) |
| (Loss) income before income taxes | (395,411) | 1,823,773 | (860,116) | 1,906,229 |
| (Benefit from) provision for income taxes | (35,943) | 394,873 | (106,531) | 411,721 |
| Net (loss) income | (359,468) | 1,428,900 | (753,585) | 1,494,508 |
| Net (loss) income attributable to common shareholders: | ||||
| Basic | (359,468) | 1,428,900 | (753,585) | 1,494,508 |
| Diluted | $ (359,468) | $ 1,432,511 | $ (753,585) | $ 1,501,717 |
| Net (loss) income per share: | ||||
| Basic (in dollars per share) | $ (1.36) | $ 5.60 | $ (2.85) | $ 5.87 |
| Diluted (in dollars per share) | $ (1.36) | $ 5.14 | $ (2.85) | $ 5.39 |
| Weighted-average shares of common stock used to compute net (loss) income per share: | ||||
| Basic (in shares) | 263,412 | 255,188 | 264,128 | 254,537 |
| Diluted (in shares) | 263,412 | 278,913 | 264,128 | 278,700 |
| Net revenue | ||||
| Revenue: | ||||
| Revenue | $ 1,154,301 | $ 1,396,513 | $ 2,493,649 | $ 3,333,334 |
| Other revenue | ||||
| Revenue: | ||||
| Revenue | $ 65,767 | $ 100,695 | $ 139,401 | $ 198,169 |
| X | ||||||||||
- Definition Amount of realized and unrealized gain (loss) from remeasurement of crypto asset, classified as nonoperating. Excludes crypto asset held for platform user. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of realized and unrealized gain (loss) from remeasurement of crypto asset, classified as operating. Excludes crypto asset held for platform user. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- References No definition available.
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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of expenses incurred in the period for information technology and data processing products and services. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of interest expense classified as nonoperating. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities, and addition from assumption of issuance of common shares for dilutive potential common shares; of income (loss) available to common shareholders. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- References No definition available.
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| X | ||||||||||
- Definition The net result for the period of deducting operating expenses from operating revenues. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of income (expense) related to nonoperating activities, classified as other. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition The net amount of other operating income and expenses, the components of which are not separately disclosed on the income statement, from items that are associated with the entity's normal revenue producing operations. No definition available.
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- Definition Amount of expense for research and development. Includes, but is not limited to, cost for computer software product to be sold, leased, or otherwise marketed and writeoff of research and development assets acquired in transaction other than business combination or joint venture formation or both. Excludes write-down of intangible asset acquired in business combination or from joint venture formation or both, used in research and development activity. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of expenses associated with exit or disposal activities pursuant to an authorized plan. Excludes expenses related to a discontinued operation or an asset retirement obligation. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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| X | ||||||||||
- Definition The aggregate total amount of expenses directly related to the marketing or selling of products or services. No definition available.
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- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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| X | ||||||||||
- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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