v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF REDEEMABLE CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS’ EQUITY - USD ($)
shares in Thousands, $ in Millions
Total
Common Stock
Additional Paid-In Capital
Accumulated Other Comprehensive Loss
Accumulated Deficit
Series A Redeemable Convertible Preferred Stock
Temporary equity, beginning balance (in shares) at Dec. 31, 2024           5,833
Temporary equity, beginning balance at Dec. 31, 2024           $ 186
Increase (Decrease) in Temporary Equity [Roll Forward]            
Accretion of Series A redeemable convertible preferred stock           $ 2
Temporary equity, ending balance (in shares) at Mar. 31, 2025           5,833
Temporary equity, ending balance at Mar. 31, 2025           $ 188
Common stock, beginning balance (in shares) at Dec. 31, 2024   260,964        
Beginning balance at Dec. 31, 2024 $ 3,093 $ 0 $ 6,687 $ (9) $ (3,585)  
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Accretion of Series A redeemable convertible preferred stock (2)   (2)      
Issuance of common stock upon settlement of restricted stock units (in shares)   3,661        
Exercise of common stock options (in shares)   451        
Exercise of common stock options 4   4      
Common stock withheld or cancelled for tax obligation and net settlement (in shares)   (154)        
Common stock withheld or cancelled for tax obligation and net settlement (8)   (8)      
Stock-based compensation 77   77      
Repurchase and retirement of common stock (in shares)   (2,405)        
Repurchase and retirement of common stock (94)       (94)  
Net income 106       106  
Common stock, ending balance (in shares) at Mar. 31, 2025   262,517        
Ending balance at Mar. 31, 2025 3,176 $ 0 6,758 (9) (3,573)  
Temporary equity, beginning balance (in shares) at Dec. 31, 2024           5,833
Temporary equity, beginning balance at Dec. 31, 2024           $ 186
Temporary equity, ending balance (in shares) at Jun. 30, 2025           5,833
Temporary equity, ending balance at Jun. 30, 2025           $ 191
Common stock, beginning balance (in shares) at Dec. 31, 2024   260,964        
Beginning balance at Dec. 31, 2024 3,093 $ 0 6,687 (9) (3,585)  
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Other comprehensive income (loss) 8          
Net income 222          
Common stock, ending balance (in shares) at Jun. 30, 2025   263,443        
Ending balance at Jun. 30, 2025 3,299 $ 0 6,869 (1) (3,568)  
Temporary equity, beginning balance (in shares) at Mar. 31, 2025           5,833
Temporary equity, beginning balance at Mar. 31, 2025           $ 188
Increase (Decrease) in Temporary Equity [Roll Forward]            
Accretion of Series A redeemable convertible preferred stock           $ 2
Temporary equity, ending balance (in shares) at Jun. 30, 2025           5,833
Temporary equity, ending balance at Jun. 30, 2025           $ 191
Common stock, beginning balance (in shares) at Mar. 31, 2025   262,517        
Beginning balance at Mar. 31, 2025 3,176 $ 0 6,758 (9) (3,573)  
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Accretion of Series A redeemable convertible preferred stock (2)   (2)      
Issuance of common stock upon settlement of restricted stock units (in shares)   3,464        
Exercise of common stock options (in shares)   301        
Exercise of common stock options 2   2      
Common stock withheld or cancelled for tax obligation and net settlement (in shares)   (135)        
Common stock withheld or cancelled for tax obligation and net settlement (6)   (6)      
Stock-based compensation 117   117      
Other comprehensive income (loss) 7     7    
Repurchase and retirement of common stock (in shares)   (2,704)        
Repurchase and retirement of common stock (111)       (111)  
Net income 116       116  
Common stock, ending balance (in shares) at Jun. 30, 2025   263,443        
Ending balance at Jun. 30, 2025 $ 3,299 $ 0 6,869 (1) (3,568)  
Temporary equity, beginning balance (in shares) at Dec. 31, 2025           5,833
Temporary equity, beginning balance at Dec. 31, 2025           $ 196
Increase (Decrease) in Temporary Equity [Roll Forward]            
Accretion of Series A redeemable convertible preferred stock           $ 2
Temporary equity, ending balance (in shares) at Mar. 31, 2026           5,833
Temporary equity, ending balance at Mar. 31, 2026           $ 198
Common stock, beginning balance (in shares) at Dec. 31, 2025 242,867 242,867        
Beginning balance at Dec. 31, 2025 $ 2,518 $ 0 7,005 (1) (4,486)  
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Accretion of Series A redeemable convertible preferred stock (2)   (2)      
Issuance of common stock upon settlement of restricted stock units (in shares)   2,975        
Exercise of common stock options (in shares)   347        
Exercise of common stock options 3   3      
Common stock withheld or cancelled for tax obligation and net settlement (in shares)   (104)        
Common stock withheld or cancelled for tax obligation and net settlement (4)   (4)      
Stock-based compensation 91   91      
Other comprehensive income (loss) (3)     (3)    
Repurchase and retirement of common stock (in shares) [1]   (9,375)        
Repurchase and retirement of common stock [1] (352)   50   (402)  
Net income 144       144  
Common stock, ending balance (in shares) at Mar. 31, 2026   236,710        
Ending balance at Mar. 31, 2026 $ 2,395 $ 0 7,143 (4) (4,744)  
Temporary equity, beginning balance (in shares) at Dec. 31, 2025           5,833
Temporary equity, beginning balance at Dec. 31, 2025           $ 196
Temporary equity, ending balance (in shares) at Jun. 30, 2026           5,833
Temporary equity, ending balance at Jun. 30, 2026           $ 200
Common stock, beginning balance (in shares) at Dec. 31, 2025 242,867 242,867        
Beginning balance at Dec. 31, 2025 $ 2,518 $ 0 7,005 (1) (4,486)  
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Exercise of common stock options (in shares) 471          
Other comprehensive income (loss) $ (6)          
Net income $ 256          
Common stock, ending balance (in shares) at Jun. 30, 2026 233,035 233,035        
Ending balance at Jun. 30, 2026 $ 2,322 $ 0 7,289 (7) (4,959)  
Temporary equity, beginning balance (in shares) at Mar. 31, 2026           5,833
Temporary equity, beginning balance at Mar. 31, 2026           $ 198
Increase (Decrease) in Temporary Equity [Roll Forward]            
Accretion of Series A redeemable convertible preferred stock           $ 2
Temporary equity, ending balance (in shares) at Jun. 30, 2026           5,833
Temporary equity, ending balance at Jun. 30, 2026           $ 200
Common stock, beginning balance (in shares) at Mar. 31, 2026   236,710        
Beginning balance at Mar. 31, 2026 2,395 $ 0 7,143 (4) (4,744)  
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Accretion of Series A redeemable convertible preferred stock (2)   (2)      
Issuance of common stock upon settlement of restricted stock units (in shares)   4,124        
Exercise of common stock options (in shares)   123        
Exercise of common stock options 1   1      
Common stock withheld or cancelled for tax obligation and net settlement (in shares)   (98)        
Common stock withheld or cancelled for tax obligation and net settlement (4)   (4)      
Stock-based compensation 151   151      
Other comprehensive income (loss) (3)     (3)    
Repurchase and retirement of common stock (in shares)   (7,825)        
Repurchase and retirement of common stock (327)       (327)  
Net income $ 111       111  
Common stock, ending balance (in shares) at Jun. 30, 2026 233,035 233,035        
Ending balance at Jun. 30, 2026 $ 2,322 $ 0 $ 7,289 $ (7) $ (4,959)  
[1] Includes the completion of the Company’s accelerated share repurchase agreement (the “ASR Agreement”). Refer to Note 13 — Stockholders’ Equity for further discussion.