v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 1,122,979 $ 658,175
Short-term investments, net 362,354 644,882
Accounts receivable, net of allowance for credit losses of $16,097 and $12,199 as of June 30, 2026 and December 31, 2025, respectively 3,200,824 3,770,194
Prepaid expenses and other current assets 129,670 187,753
TOTAL CURRENT ASSETS 4,815,827 5,261,004
Property and equipment, net 455,151 396,819
Operating lease assets 335,228 342,042
Deferred income taxes 55,700 55,700
Other assets, non-current 102,540 97,655
TOTAL ASSETS 5,764,446 6,153,220
Current liabilities:    
Accounts payable 2,562,580 3,007,651
Accrued expenses and other current liabilities 150,174 181,991
Operating lease liabilities 80,922 76,355
TOTAL CURRENT LIABILITIES 2,793,676 3,265,997
Operating lease liabilities, non-current 353,188 359,975
Other liabilities, non-current 43,230 42,857
TOTAL LIABILITIES 3,190,094 3,668,829
Commitments and contingencies (Note 11)
STOCKHOLDERS’ EQUITY    
Preferred stock, par value $0.000001; 100,000 shares authorized, zero shares issued and outstanding as of June 30, 2026 and December 31, 2025 0 0
Common stock, par value $0.000001 Class A, 1,000,000 shares authorized; 426,532 and 432,814 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively Class B, 95,000 shares authorized; 43,109 and 43,109 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively 0 0
Additional paid-in capital 3,293,840 3,075,303
Accumulated deficit (719,488) (590,912)
TOTAL STOCKHOLDERS’ EQUITY 2,574,352 2,484,391
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 5,764,446 $ 6,153,220