v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 1,015 $ 1,353
Marketable securities 698 638
Accounts receivable, net 142 127
Inventories, net 217 114
Other current assets 578 437
Total current assets 2,650 2,669
Property, equipment and right-of-use assets, net 149 132
Intangible assets, net 11 14
Goodwill 113 113
Restricted cash 73 71
Other non-current assets 185 146
Total non-current assets 531 476
Total assets 3,181 3,145
Current liabilities:    
Accounts payable 40 47
Deferred revenue 77 68
Accrued expenses and other current liabilities 987 854
Total current liabilities 1,104 969
Other long-term liabilities 32 52
Total liabilities 1,136 1,021
Commitments and Contingencies (Note 11)
Stockholders’ Equity:    
Preferred stock, par value $0.000001 per share; 100 million shares authorized; no shares issued or outstanding 0 0
Common stock, par value $0.000001 per share: Class A - 7,000 million shares authorized; 512 million and 523 million shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively Class B - 700 million shares authorized; 65 million and 66 million shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively 0 0
Accumulated other comprehensive income (loss) (2) 2
Additional paid-in capital 3,029 3,384
Accumulated deficit (982) (1,262)
Total stockholders’ equity 2,045 2,124
Total liabilities and stockholders’ equity $ 3,181 $ 3,145