Stockholders’ Equity (Tables)

6 Months Ended

Jun. 30, 2026

Schedule of Share-based Compensation Expense

Stock-based compensation expenses recognized for the three and six months ended June 30, 2026 and 2025, were as follows (in millions):


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Cost of revenue	$	6	$	9	$	13	$	18
Sales and marketing	13		14		26		28
Research and development	22		21		43		41
General and administrative	14		16		27		30
Restructuring expenses	—		—		—		3
Stock-based compensation expense	$	55	$	60	$	109	$	120

Schedule of Stock Option Activity

The following is a summary of stock option activity under the Company’s stock option plans for the six months ended June 30, 2026:


	Number of Shares (in millions)	Weighted- Average Exercise Price (per share)		Weighted-Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value (in millions)(1)

Outstanding as of December 31, 2025	21	$	11.84
Granted	1	28.67
Exercised	(2)	4.18
Forfeited	—	21.68
Outstanding as of June 30, 2026	20	$	14.25


Options vested and expected to vest as of June 30, 2026	20	$	13.78	5.2	$	288

(1) The aggregate intrinsic value was determined as the difference between the closing price of the Class A common stock on the last trading day of June 2026, or the date of exercise, as appropriate, and the exercise price, multiplied by the number of in-the-money options that would have been received by the option holders had all option holders exercised their in-the-money options at period end.

Schedule of Restricted Stock Unit Activity

The following table summarizes restricted stock units, or RSUs, activity during the six months ended June 30, 2026:


	Number of Shares (in millions)	Weighted-Average Grant Date Fair Value (per share)
Outstanding balance as of December 31, 2025	15	$	26.80
Granted	8	28.27
Vested	(4)	22.64
Forfeited	(1)	27.33
Outstanding balance as of June 30, 2026	18	$	28.36
Expected to vest as of June 30, 2026	15	$	28.03