v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Operating activities    
Net income $ 1,942,364 $ 546,289
Adjustment to Reconcile Net Income to Cash Provided by (Used in) Operating Activity [Abstract]    
Depreciation and amortization 14,985 13,152
Stock-based compensation 466,801 315,310
Unrealized and realized (gain) loss from marketable securities, net (62,242) (452)
Other operating activities (85,582) 2,092
Changes in operating assets and liabilities:    
Accounts receivable, net (433,801) (163,501)
Prepaid expenses and other assets (53,906) (7,307)
Accounts payable and accrued liabilities 88,097 48,202
Contract liabilities 256,528 120,666
Other liabilities (17,912) (24,937)
Net cash provided by operating activities 2,115,332 849,514
Investing activities    
Purchases of property and equipment (21,955) (13,818)
Purchases of marketable securities (3,505,299) (2,576,231)
Proceeds from sales and redemption of marketable securities 2,017,589 652,762
Other investing activities 0 (70,000)
Net cash used in investing activities (1,509,665) (2,007,287)
Financing activities    
Proceeds from the exercise of common stock options 9,757 95,201
Other financing activities (1,379) (117,648)
Net cash provided by (used in) financing activities 8,378 (22,447)
Effect of foreign exchange on cash, cash equivalents, and restricted cash (2,112) 11,518
Net increase (decrease) in cash, cash equivalents, and restricted cash 611,933 (1,168,702)
Cash, cash equivalents, and restricted cash - beginning of period 1,451,425 2,119,936
Cash, cash equivalents, and restricted cash - end of period $ 2,063,358 $ 951,234