v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF REDEEMABLE CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS' EQUITY - USD ($)
$ in Thousands
Total
IPO
Conversion Of Redeemable Convertible Preferred Stock
Conversion Of Redeemable Convertible Preferred Stock
IPO
Common Stock
Common Stock
IPO
Common Stock
Conversion Of Redeemable Convertible Preferred Stock
Common Stock
Conversion Of Redeemable Convertible Preferred Stock
IPO
Additional Paid-in Capital
Additional Paid-in Capital
IPO
Additional Paid-in Capital
Conversion Of Redeemable Convertible Preferred Stock
Additional Paid-in Capital
Conversion Of Redeemable Convertible Preferred Stock
IPO
Other Comprehensive Income (Loss)
Accumulated Deficit
Temporary equity, beginning balance (in shares) at Dec. 31, 2024 48,150,146                          
Temporary equity, beginning balance at Dec. 31, 2024 $ 851,272                          
Increase (Decrease) in Temporary Equity [Roll Forward]                            
Adjustment to reflect deemed contribution from Series D and Series E redeemable convertible preferred stock extinguishment $ (104,174)                          
Temporary equity, settlement of repurchase agreement (in shares) (4,983,533)                          
Settlement of repurchase agreement $ (200,694)                          
Conversion of redeemable preferred stock (in shares)       (40,584,776)                    
Conversion of redeemable preferred stock       $ (346,530)                    
Temporary equity, ending balance (in shares) at Jun. 30, 2025 2,581,837                          
Temporary equity, ending balance at Jun. 30, 2025 $ 199,874                          
Beginning balance (in shares) at Dec. 31, 2024         16,379,906                  
Beginning balance at Dec. 31, 2024 (434,570)       $ 0       $ 88,097       $ 68 $ (522,735)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                            
Issuance of common stock upon exercise of options (in shares)         186,407                  
Issuance of common stock upon exercise of options 256               256          
Issuance of common stock upon settlement of restricted stock units and performance-based restricted stock units (in shares)         16,815,445                  
Tax withholdings on settlement of restricted stock units and performance-based restricted stock units (in shares)         (8,513,244)                  
Tax withholdings on settlement of restricted stock units and performance-based restricted stock units (272,258)               (272,258)          
Proceeds from repayment of recourse loans for settlement of restricted units 4,935               4,935          
Adjustment to reflect deemed contribution from Series D and Series E redeemable convertible preferred stock extinguishment 104,174               104,174          
Settlement of repurchase agreement (in shares)         4,150,200                  
Settlement of repurchase agreement 150,694               150,694          
Conversion of redeemable preferred stock (in shares)               40,584,776            
Conversion of redeemable preferred stock       $ 346,530               $ 346,530    
Stock-based compensation 590,990               590,990          
Issuance of class A common stock pursuant to the initial public offering, net of issuance and offering costs (in shares)           8,522,528                
Issuance of Class A common stock pursuant to the initial public offering, net of issuance and offering costs   $ 241,641               $ 241,641        
Unrealized loss on marketable securities (102)                       (102)  
Net income (558,512)                         (558,512)
Ending balance (in shares) at Jun. 30, 2025         78,126,018                  
Ending balance at Jun. 30, 2025 $ 173,778       $ 0       1,255,059       (34) (1,081,247)
Temporary equity, beginning balance (in shares) at Mar. 31, 2025 48,150,146                          
Temporary equity, beginning balance at Mar. 31, 2025 $ 747,098                          
Increase (Decrease) in Temporary Equity [Roll Forward]                            
Adjustment to reflect deemed contribution from Series D and Series E redeemable convertible preferred stock extinguishment $ 0                          
Temporary equity, settlement of repurchase agreement (in shares) (4,983,533)                          
Settlement of repurchase agreement $ (200,694)                          
Conversion of redeemable preferred stock (in shares)       (40,584,776)                    
Conversion of redeemable preferred stock       $ (346,530)                    
Temporary equity, ending balance (in shares) at Jun. 30, 2025 2,581,837                          
Temporary equity, ending balance at Jun. 30, 2025 $ 199,874                          
Beginning balance (in shares) at Mar. 31, 2025         16,445,656                  
Beginning balance at Mar. 31, 2025 (308,276)       $ 0       197,310       10 (505,596)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                            
Issuance of common stock upon exercise of options (in shares)         120,657                  
Issuance of common stock upon exercise of options 159               159          
Issuance of common stock upon settlement of restricted stock units and performance-based restricted stock units (in shares)         16,815,445                  
Tax withholdings on settlement of restricted stock units and performance-based restricted stock units (in shares)         (8,513,244)                  
Tax withholdings on settlement of restricted stock units and performance-based restricted stock units (272,258)               (272,258)          
Settlement of repurchase agreement (in shares)         4,150,200                  
Settlement of repurchase agreement 150,694               150,694          
Conversion of redeemable preferred stock (in shares)               40,584,776            
Conversion of redeemable preferred stock       $ 346,530               346,530    
Stock-based compensation 590,983               590,983          
Issuance of class A common stock pursuant to the initial public offering, net of issuance and offering costs (in shares)           8,522,528                
Issuance of Class A common stock pursuant to the initial public offering, net of issuance and offering costs   $ 241,641               $ 241,641        
Unrealized loss on marketable securities (44)                       (44)  
Net income (575,651)                         (575,651)
Ending balance (in shares) at Jun. 30, 2025         78,126,018                  
Ending balance at Jun. 30, 2025 $ 173,778       $ 0       1,255,059       (34) (1,081,247)
Temporary equity, beginning balance (in shares) at Dec. 31, 2025 2,581,837                          
Temporary equity, beginning balance at Dec. 31, 2025 $ 199,874                          
Increase (Decrease) in Temporary Equity [Roll Forward]                            
Adjustment to reflect deemed contribution from Series D and Series E redeemable convertible preferred stock extinguishment $ 0                          
Conversion of redeemable preferred stock (in shares)       (2,581,837)                    
Conversion of redeemable preferred stock       $ (199,874)                    
Temporary equity, ending balance (in shares) at Jun. 30, 2026 0                          
Temporary equity, ending balance at Jun. 30, 2026 $ 0                          
Beginning balance (in shares) at Dec. 31, 2025         79,171,304                  
Beginning balance at Dec. 31, 2025 $ 178,662       $ 0       1,229,678       (20) (1,050,996)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                            
Issuance of common stock upon exercise of options (in shares) 484,625       487,457                  
Issuance of common stock upon exercise of options $ 680               680          
Issuance of common stock in connection with the employee stock purchase plan (in shares)         258,567                  
Issuance of common stock in connection with the employee stock purchase plan 7,276               7,276          
Issuance of common stock upon settlement of restricted stock units and performance-based restricted stock units (in shares)         1,062,552                  
Tax withholdings on settlement of restricted stock units and performance-based restricted stock units (in shares)         (426,258)                  
Tax withholdings on settlement of restricted stock units and performance-based restricted stock units $ (19,791)               (19,791)          
Repurchase and retirement of common stock (in shares) (2,934,671)       (2,934,671)                  
Repurchase and retirement of common stock $ (132,287)               (132,287)          
Adjustment to reflect deemed contribution from Series D and Series E redeemable convertible preferred stock extinguishment 0                          
Conversion of redeemable preferred stock (in shares)               2,581,837            
Conversion of redeemable preferred stock       $ 199,874               $ 199,874    
Stock-based compensation 31,440               31,440          
Unrealized loss on marketable securities (344)                       (344)  
Net income 78,818                         78,818
Ending balance (in shares) at Jun. 30, 2026         80,200,788                  
Ending balance at Jun. 30, 2026 $ 344,328       $ 0       1,316,870       (364) (972,178)
Temporary equity, beginning balance (in shares) at Mar. 31, 2026 2,581,837                          
Temporary equity, beginning balance at Mar. 31, 2026 $ 199,874                          
Increase (Decrease) in Temporary Equity [Roll Forward]                            
Adjustment to reflect deemed contribution from Series D and Series E redeemable convertible preferred stock extinguishment $ 0                          
Conversion of redeemable preferred stock (in shares)     (2,581,837)                      
Conversion of redeemable preferred stock     $ (199,874)                      
Temporary equity, ending balance (in shares) at Jun. 30, 2026 0                          
Temporary equity, ending balance at Jun. 30, 2026 $ 0                          
Beginning balance (in shares) at Mar. 31, 2026         77,304,138                  
Beginning balance at Mar. 31, 2026 111,686       $ 0       1,127,902       (348) (1,015,868)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                            
Issuance of common stock upon exercise of options (in shares)         205,890                  
Issuance of common stock upon exercise of options 270               270          
Issuance of common stock in connection with the employee stock purchase plan (in shares)         258,567                  
Issuance of common stock in connection with the employee stock purchase plan 7,276               7,276          
Issuance of common stock upon settlement of restricted stock units and performance-based restricted stock units (in shares)         554,920                  
Tax withholdings on settlement of restricted stock units and performance-based restricted stock units (in shares)         (223,405)                  
Tax withholdings on settlement of restricted stock units and performance-based restricted stock units (11,499)               (11,499)          
Repurchase and retirement of common stock (in shares)         (481,159)                  
Repurchase and retirement of common stock (26,449)               (26,449)          
Conversion of redeemable preferred stock (in shares)             2,581,837              
Conversion of redeemable preferred stock     $ 199,874               $ 199,874      
Stock-based compensation 19,496               19,496          
Unrealized loss on marketable securities (16)                       (16)  
Net income 43,690                         43,690
Ending balance (in shares) at Jun. 30, 2026         80,200,788                  
Ending balance at Jun. 30, 2026 $ 344,328       $ 0       $ 1,316,870       $ (364) $ (972,178)