v3.26.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 3,053,306 $ 2,487,096
Accounts receivable, net 2,171,017 1,819,366
Prepaid expenses and other current assets 167,993 124,330
Total current assets 5,392,316 4,430,792
Property and equipment, net 111,948 122,445
Goodwill 1,518,587 1,539,986
Intangible assets, net 355,661 396,714
Equity method investments 289,959 287,666
Other non-current assets 600,660 482,007
Total assets 8,269,131 7,259,610
Current liabilities:    
Accounts payable 778,942 746,977
Accrued and other current liabilities 475,016 586,811
Total current liabilities 1,253,958 1,333,788
Long-term debt 3,515,072 3,512,987
Other non-current liabilities 337,085 278,164
Total liabilities 5,106,115 5,124,939
Commitments and contingencies (Note 5)
Stockholders’ equity:    
Preferred Stock, $0.00003 par value—100,000 shares authorized, no shares issued and outstanding as of June 30, 2026 and December 31, 2025 0 0
Class A, Class B, and Class C Common Stock, $0.00003 par value—1,850,000 (Class A 1,500,000, Class B 200,000, Class C 150,000) shares authorized, 335,291 (Class A 305,084, Class B 30,208, Class C nil) and 338,313 (Class A 307,955, Class B 30,358, Class C nil) shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively 11 11
Additional paid-in capital 575,057 446,550
Accumulated other comprehensive loss (73,805) (46,987)
Retained earnings 2,661,753 1,735,097
Total stockholders’ equity 3,163,016 2,134,671
Total liabilities and stockholders’ equity $ 8,269,131 $ 7,259,610