v3.26.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 871.7 $ 792.6
Marketable securities 110.5 0.0
Accounts receivable, net 158.8 65.4
Deferred costs, net 25.9 19.6
Prepaid expenses and other current assets 54.5 20.5
Total current assets 1,221.4 898.1
Property, equipment, and software, net 55.0 43.4
Intangible assets, net 436.3 27.1
Goodwill 182.7 0.0
Other assets 52.4 31.4
Total assets 1,947.8 1,000.0
Current liabilities:    
Content liabilities 122.5 100.0
Other accounts payable and accrued expenses 53.8 29.8
Accrued compensation and benefits 56.6 36.7
Deferred revenue, current 498.4 180.9
Other current liabilities 36.8 10.5
Total current liabilities 768.1 357.9
Deferred revenue, non-current 3.0 1.4
Other liabilities 9.7 5.0
Total liabilities 780.8 364.3
Commitments and contingencies (Note 10)
Stockholders’ equity:    
Preferred stock, $0.00001 par value—10.0 shares authorized and no shares issued and outstanding as of June 30, 2026 and December 31, 2025 0.0 0.0
Common stock, $0.00001 par value—600.0 shares authorized as of June 30, 2026 and 300.0 shares authorized as of December 31, 2025; 274.5 shares issued and outstanding as of June 30, 2026, and 167.9 shares issued and outstanding as of December 31, 2025 0.0 0.0
Additional paid-in capital 2,179.0 1,546.9
Accumulated other comprehensive income 0.1 0.0
Accumulated deficit (1,012.1) (911.2)
Total stockholders’ equity 1,167.0 635.7
Total liabilities and stockholders’ equity $ 1,947.8 $ 1,000.0