v3.26.1
Unaudited Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 958,314 $ 882,242
Short-term investments 379,629 821,552
Accounts receivable - net of allowance for doubtful accounts of $7,285 at June 30, 2026, and $6,825 at December 31, 2025 378,358 419,146
Deferred commission expense 249,298 226,184
Prepaid expenses and other current assets 161,895 100,611
Total current assets 2,127,494 2,449,735
Long-term investments 45,265 136,662
Property and equipment, net 157,126 141,869
Capitalized software development costs, net 232,829 213,794
Right-of-use assets 185,551 200,821
Deferred commission expense, net of current portion 230,561 218,991
Other assets 176,819 165,602
Intangible assets, net 29,359 35,225
Goodwill 319,391 291,452
Total assets 3,504,395 3,854,151
Current liabilities:    
Accounts payable 25,982 24,764
Accrued compensation costs 106,045 99,195
Accrued commissions 122,442 132,003
Accrued expenses and other current liabilities 194,729 166,861
Operating lease liabilities 38,095 39,703
Deferred revenue 1,056,353 1,004,945
Total current liabilities 1,543,646 1,467,471
Operating lease liabilities, net of current portion 198,819 222,602
Deferred revenue, net of current portion 6,377 8,495
Other long-term liabilities 98,825 89,339
Total liabilities 1,847,667 1,787,907
Commitments and contingencies (Note 12)
Stockholders’ equity:    
Common stock, $0.001 par value - 500,000 shares authorized; 55,402 and 54,832 shares issued; 49,658 and 52,555 shares outstanding at June 30, 2026, and December 31, 2025, respectively 50 53
Treasury stock, $0.001 par value - 5,744 and 2,277 shares held at June 30, 2026, and December 31, 2025, respectively 6 2
Additional paid-in capital 2,334,513 2,814,843
Accumulated other comprehensive income 165 5,244
Accumulated deficit (678,006) (753,898)
Total stockholders’ equity 1,656,728 2,066,244
Total liabilities and stockholders’ equity $ 3,504,395 $ 3,854,151