v3.26.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 1,486,838 $ 953,569
Marketable securities 1,299,519 1,523,242
Accounts receivable, net 650,098 590,162
Prepaid expenses and other current assets 105,210 69,012
Total current assets 3,541,665 3,135,985
Property and equipment, net 11,981 12,710
Operating lease right-of-use assets, net 18,411 20,788
Intangible assets, net 10,565 15,521
Goodwill 42,174 42,174
Other noncurrent assets 11,809 11,995
Total assets 3,636,605 3,239,173
Current liabilities:    
Accounts payable 89,144 62,929
Operating lease liabilities 7,783 7,023
Accrued expenses and other current liabilities 240,822 201,331
Total current liabilities 337,749 271,283
Operating lease liabilities, noncurrent 13,084 16,191
Other noncurrent liabilities 72 22,661
Total liabilities 350,905 310,135
Commitments and contingencies (Note 9)
Stockholders’ equity:    
Preferred stock, par value $0.0001 per share; 100,000,000 shares authorized as of June 30, 2026 and December 31, 2025; no shares issued and outstanding as of June 30, 2026 and December 31, 2025 0 0
Additional paid-in capital 3,504,664 3,595,772
Accumulated other comprehensive income (loss) (4,695) 4,364
Accumulated deficit (214,288) (671,117)
Total stockholders’ equity 3,285,700 2,929,038
Total liabilities and stockholders’ equity 3,636,605 3,239,173
Class A common stock    
Stockholders’ equity:    
Common stock, value 14 14
Class B common stock    
Stockholders’ equity:    
Common stock, value 5 5
Class C common stock    
Stockholders’ equity:    
Common stock, value $ 0 $ 0