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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net income (loss) $ 249,916 $ (16,928)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 32,033 32,073
Stock-based compensation expense 154,003 180,134
Amortization of right-of-use assets 24,674 23,836
Amortization and write-off of content assets 100,536 101,003
Foreign currency remeasurement (gains) losses 1,017 (112)
Change in fair value of strategic investment in convertible promissory notes 0 3,100
Impairment of assets 4,920 2,870
Provision for credit losses 2,530 1,414
Other items, net (11,927) 849
Changes in operating assets and liabilities:    
Accounts receivable 100,221 189,024
Inventories (1,782) 45,576
Prepaid expenses and other current assets (60,238) (21,115)
Content assets and liabilities, net (97,701) (91,361)
Other non-current assets (7,028) 5,864
Accounts payable 9,335 (114,583)
Accrued liabilities 35,511 (48,955)
Operating lease liabilities (55,361) (38,523)
Other long-term liabilities 3,781 (6,797)
Deferred revenue (656) 1,096
Net cash provided by operating activities 483,784 248,465
Cash flows from investing activities:    
Purchases of property and equipment (6,904) (3,053)
Purchase of business, net of cash acquired 0 (95,090)
Sale (Purchase) of strategic investment 18,399  
Sale (Purchase) of strategic investment   (7,000)
Purchases of short-term investments (425,000) 0
Sales and maturities of short-term investments 600,000 0
Repayments of convertible promissory notes 0 10,000
Net cash provided by (used in) investing activities 186,495 (95,143)
Cash flows from financing activities:    
Proceeds from equity issued under incentive plans 36,586 2,946
Taxes paid related to net share settlement of equity awards (110,833) (71,508)
Repurchases of common stock (162,702) 0
Payment of contingent consideration (15,210) 0
Other (236) 0
Net cash used in financing activities (252,395) (68,562)
Net increase in cash and cash equivalents 417,884 84,760
Effect of exchange rate changes on cash and cash equivalents (3,137) 7,877
Cash and cash equivalents — beginning of period 1,587,068 2,160,639
Cash and cash equivalents — end of period 2,001,815 2,253,276
Supplemental disclosures of cash flow information:    
Cash paid for interest 869 347
Cash paid for (refunded from) income taxes, net (2,426) 10,123
Supplemental disclosures of non-cash investing and financing activities:    
Non-cash contingent consideration for business combination 0 65,815
Unpaid portion of property and equipment purchases $ 204 $ 368