v3.26.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 609,811 $ 228,616
Short-term available-for-sale investments 231,237 348,876
Receivables, net 375,291 32,149
Inventory 87,781 80,128
Prepaid expenses and other current assets 80,493 77,869
Total current assets 1,384,613 767,638
Long-term available-for-sale investments: 0 351,263
Goodwill 1,101,720 278,325
Property, equipment, and software, net 364,215 311,930
Intangible assets, net 422,809 196,116
Operating lease right-of-use assets 165,565 137,046
Deferred tax assets, net 111,578 82,707
Other long-term assets 78,314 29,680
Total assets 3,628,814 2,154,705
Current liabilities:    
Accounts payable 501,297 143,278
Accrued liabilities 210,255 77,039
Deferred revenue 141,384 127,160
Deferred acquisition payable 537,381 1,479
Earn-out consideration 81,364 50,632
Operating lease liabilities 11,551 4,843
Total current liabilities 1,483,232 404,431
Convertible senior notes, net 1,365,299 972,580
Operating lease liabilities 169,389 143,167
Deferred acquisition payable 165,624 5,484
Earn-out consideration 81,600 53,009
Deferred tax liabilities, net 30,934 28,856
Other long-term liabilities 8,664 6,250
Total liabilities 3,304,742 1,613,777
Commitments and contingencies
Stockholders' equity:    
Common stock – Class A shares, par value $0.0001, 2,750,000,000 shares authorized and 224,920,310 and 218,867,898 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively; Class V shares, par value $0.0001, 10,000,000 shares authorized and 8,377,623 shares issued and outstanding as of June 30, 2026 and December 31, 2025 23 23
Additional paid-in capital 662,263 652,383
Accumulated other comprehensive (loss) income (46,037) 2,294
Accumulated deficit (292,177) (113,772)
Total stockholders' equity 324,072 540,928
Total liabilities and stockholders' equity $ 3,628,814 $ 2,154,705