v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Net revenue:        
Total net revenue $ 1,354,690 $ 1,111,038 $ 2,603,569 $ 2,131,710
Cost of revenue:        
Total cost of revenue 680,994 613,380 1,364,937 1,189,007
Gross profit (loss):        
Total gross profit 673,696 497,658 1,238,632 942,703
Operating expenses:        
Research and development 179,680 178,017 369,172 362,596
Sales and marketing 223,223 243,256 444,444 466,949
General and administrative 124,618 99,718 227,069 194,221
Total operating expenses 527,521 520,991 1,040,685 1,023,766
Income (loss) from operations 146,175 (23,333) 197,947 (81,063)
Other income, net:        
Interest expense (475) (460) (1,099) (893)
Other income, net 23,691 28,466 61,188 46,115
Total other income, net 23,216 28,006 60,089 45,222
Income (loss) before income taxes 169,391 4,673 258,036 (35,841)
Income tax expense (benefit) 5,175 (5,830) 8,120 (18,913)
Net income (loss) $ 164,216 $ 10,503 $ 249,916 $ (16,928)
Net income (loss) per share—basic (in dollars per share) $ 1.11 $ 0.07 $ 1.69 $ (0.12)
Net income (loss) per share—diluted (in dollars per share) $ 1.08 $ 0.07 $ 1.65 $ (0.12)
Weighted-average common shares outstanding —basic (in shares) 147,972 146,888 147,742 146,545
Weighted-average common shares outstanding - diluted (in shares) 151,895 149,675 151,461 146,545
Platform        
Net revenue:        
Total net revenue $ 1,220,969 $ 975,471 $ 2,352,199 $ 1,856,288
Cost of revenue:        
Total cost of revenue 574,217 477,795 1,121,362 894,301
Gross profit (loss):        
Total gross profit 646,752 497,676 1,230,837 961,987
Advertising        
Net revenue:        
Total net revenue 672,816 539,053 1,285,521 1,021,876
Cost of revenue:        
Total cost of revenue 252,778 237,405 494,514 449,829
Gross profit (loss):        
Total gross profit 420,038 301,648 791,007 572,047
Subscriptions        
Net revenue:        
Total net revenue 548,153 436,418 1,066,678 834,412
Cost of revenue:        
Total cost of revenue 321,439 240,390 626,848 444,472
Gross profit (loss):        
Total gross profit 226,714 196,028 439,830 389,940
Devices        
Net revenue:        
Total net revenue 133,721 135,567 251,370 275,422
Cost of revenue:        
Total cost of revenue 106,777 135,585 243,575 294,706
Gross profit (loss):        
Total gross profit $ 26,944 $ (18) $ 7,795 $ (19,284)