v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY - USD ($)
$ in Thousands
Total
Ordinary Shares Issued
Additional Paid-In Capital
Accumulated Other Comprehensive Loss
Accumulated Deficit
Shares issued at the beginning of period (in shares) at Dec. 31, 2024   1,387,367,704      
Shares, issues, reduction in capital at the beginning of period (in shares) at Dec. 31, 2024 [1] 0        
Shares outstanding at the beginning of period (in shares) at Dec. 31, 2024   1,387,367,704      
Balance at the beginning of period at Dec. 31, 2024 $ 3,332,222 $ 138 $ 12,087,908 $ (148,988) $ (8,606,836)
Increase (Decrease) in Stockholders' Equity          
Issuance of shares reserved for share option exercises (in shares)   402,532      
Issuance of shares reserved for share option exercises (in shares)   402,532      
Exercise of options, ESPP and release of RSUs (in shares)   15,511,587      
Exercise of options, ESPP and release of RSUs 63,876 $ 2 63,874    
Share-based compensation 95,478   95,478    
Other comprehensive income 6,667     6,667  
Net income $ 1,270       1,270
Shares issued at the end of period (in shares) at Mar. 31, 2025   1,403,281,823      
Shares, issues, reduction in capital at the end of the period (in shares) at Mar. 31, 2025 [1] 0        
Shares outstanding at the end of period (in shares) at Mar. 31, 2025   1,403,281,823      
Balance at the end of period at Mar. 31, 2025 $ 3,499,513 $ 140 12,247,260 (142,321) (8,605,566)
Shares issued at the beginning of period (in shares) at Dec. 31, 2024   1,387,367,704      
Shares, issues, reduction in capital at the beginning of period (in shares) at Dec. 31, 2024 [1] 0        
Shares outstanding at the beginning of period (in shares) at Dec. 31, 2024   1,387,367,704      
Balance at the beginning of period at Dec. 31, 2024 $ 3,332,222 $ 138 12,087,908 (148,988) (8,606,836)
Increase (Decrease) in Stockholders' Equity          
Net income $ 95,590        
Shares issued at the end of period (in shares) at Jun. 30, 2025   1,540,975,898      
Shares, issues, reduction in capital at the end of the period (in shares) at Jun. 30, 2025 [1] (112,772,594)        
Shares outstanding at the end of period (in shares) at Jun. 30, 2025   1,428,203,304      
Balance at the end of period at Jun. 30, 2025 $ 3,770,475 $ 143 12,395,276 (113,698) (8,511,246)
Shares issued at the beginning of period (in shares) at Mar. 31, 2025   1,403,281,823      
Shares, issues, reduction in capital at the beginning of period (in shares) at Mar. 31, 2025 [1] 0        
Shares outstanding at the beginning of period (in shares) at Mar. 31, 2025   1,403,281,823      
Balance at the beginning of period at Mar. 31, 2025 $ 3,499,513 $ 140 12,247,260 (142,321) (8,605,566)
Increase (Decrease) in Stockholders' Equity          
Issuance of shares reserved for share option exercises (in shares)   109,306,902      
Issuance of shares reserved for share option exercises (in shares) [1] (112,772,594)        
Issuance of shares reserved for share option exercises (in shares)   (3,465,692)      
Exercise of options, ESPP and release of RSUs (in shares)   28,387,173      
Exercise of options, ESPP and release of RSUs $ 32,733 $ 3 32,730    
Share-based compensation 150,809   150,809    
Withholding taxes from share-based awards (35,523)   (35,523)    
Other comprehensive income 28,623     28,623  
Net income $ 94,320       94,320
Shares issued at the end of period (in shares) at Jun. 30, 2025   1,540,975,898      
Shares, issues, reduction in capital at the end of the period (in shares) at Jun. 30, 2025 [1] (112,772,594)        
Shares outstanding at the end of period (in shares) at Jun. 30, 2025   1,428,203,304      
Balance at the end of period at Jun. 30, 2025 $ 3,770,475 $ 143 12,395,276 (113,698) (8,511,246)
Shares issued at the beginning of period (in shares) at Dec. 31, 2025 1,540,975,898 1,540,975,898      
Shares, issues, reduction in capital at the beginning of period (in shares) at Dec. 31, 2025 [1] (99,900,280)        
Shares outstanding at the beginning of period (in shares) at Dec. 31, 2025 1,441,075,618 1,441,075,618      
Balance at the beginning of period at Dec. 31, 2025 $ 4,361,194 $ 144 12,759,137 (78,184) (8,319,903)
Increase (Decrease) in Stockholders' Equity          
Exercise of options, ESPP and release of RSUs (in shares) [1] 3,403,760        
Exercise of options, ESPP and release of RSUs (in shares)   3,403,760      
Exercise of options, ESPP and release of RSUs $ 23,834   23,834    
Share-based compensation 123,355   123,355    
Other comprehensive income 24,702     24,702  
Net income $ 227,357       227,357
Shares issued at the end of period (in shares) at Mar. 31, 2026   1,540,975,898      
Shares, issues, reduction in capital at the end of the period (in shares) at Mar. 31, 2026 [1] (96,496,520)        
Shares outstanding at the end of period (in shares) at Mar. 31, 2026   1,444,479,378      
Balance at the end of period at Mar. 31, 2026 $ 4,760,442 $ 144 12,906,326 (53,482) (8,092,546)
Shares issued at the beginning of period (in shares) at Dec. 31, 2025 1,540,975,898 1,540,975,898      
Shares, issues, reduction in capital at the beginning of period (in shares) at Dec. 31, 2025 [1] (99,900,280)        
Shares outstanding at the beginning of period (in shares) at Dec. 31, 2025 1,441,075,618 1,441,075,618      
Balance at the beginning of period at Dec. 31, 2025 $ 4,361,194 $ 144 12,759,137 (78,184) (8,319,903)
Increase (Decrease) in Stockholders' Equity          
Other comprehensive income 52,814        
Net income $ 464,364        
Shares issued at the end of period (in shares) at Jun. 30, 2026 1,540,975,898 1,540,975,898      
Shares, issues, reduction in capital at the end of the period (in shares) at Jun. 30, 2026 [1] (71,697,083)        
Shares outstanding at the end of period (in shares) at Jun. 30, 2026 1,469,278,815 1,469,278,815      
Balance at the end of period at Jun. 30, 2026 $ 5,173,998 $ 147 13,054,760 (25,370) (7,855,539)
Shares issued at the beginning of period (in shares) at Mar. 31, 2026   1,540,975,898      
Shares, issues, reduction in capital at the beginning of period (in shares) at Mar. 31, 2026 [1] (96,496,520)        
Shares outstanding at the beginning of period (in shares) at Mar. 31, 2026   1,444,479,378      
Balance at the beginning of period at Mar. 31, 2026 $ 4,760,442 $ 144 12,906,326 (53,482) (8,092,546)
Increase (Decrease) in Stockholders' Equity          
Exercise of options, ESPP and release of RSUs (in shares) [1] 24,799,437        
Exercise of options, ESPP and release of RSUs (in shares)   24,799,437      
Exercise of options, ESPP and release of RSUs $ 11,032 $ 3 11,029    
Share-based compensation 137,405   137,405    
Other comprehensive income 28,112     28,112  
Net income $ 237,007       237,007
Shares issued at the end of period (in shares) at Jun. 30, 2026 1,540,975,898 1,540,975,898      
Shares, issues, reduction in capital at the end of the period (in shares) at Jun. 30, 2026 [1] (71,697,083)        
Shares outstanding at the end of period (in shares) at Jun. 30, 2026 1,469,278,815 1,469,278,815      
Balance at the end of period at Jun. 30, 2026 $ 5,173,998 $ 147 $ 13,054,760 $ (25,370) $ (7,855,539)
[1] Upon effectiveness of the Continuation, ordinary shares (including in the form of ADS) held by the Company or one of its controlled subsidiaries immediately prior to the effective date of the Continuation became part of the Company’s issued but not outstanding share capital and are considered ordinary shares of the Company, or “treasury shares” under Swiss law. The Company expects to use these treasury shares in the future to satisfy obligations to deliver shares in connection with awards granted under the Company’s equity incentive plans and agreements.