v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Jun. 30, 2026
Dec. 31, 2025
Current assets    
Cash and cash equivalents $ 1,065 $ 1,476
Short-term investments 78 66
Accounts receivable, net 184 132
Inventories 84 71
Prepaid expenses and other current assets 274 256
Total current assets 1,685 2,001
Operating lease right-of-use assets 722 862
Property and equipment, net 512 516
Other non-current assets 59 61
Total assets 2,978 3,440
Current liabilities    
Accounts payable 1,317 1,202
Other current liabilities 951 927
Total current liabilities 2,268 2,129
Long-term debt 2,797 3,233
Operating lease liabilities, net of current 680 835
Other non-current liabilities 21 25
Total liabilities 5,766 6,222
Commitments and contingencies (Note 5)
Stockholders' deficit:    
Convertible preferred stock, $0.001 par value per share: 10,000,000 shares authorized and none issued at June 30, 2026 and December 31, 2025 0 0
Additional paid-in capital 2,166 2,073
Accumulated deficit (4,929) (4,823)
Accumulated other comprehensive loss (25) (32)
Total stockholders' deficit (2,788) (2,782)
Total liabilities and stockholders' deficit 2,978 3,440
Class A common stock    
Stockholders' deficit:    
Common stock 0 0
Class B common stock    
Stockholders' deficit:    
Common stock $ 0 $ 0