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2065658000 1207802000 8054000 1962000 0 41138000 2073712000 1250902000 <div><span style="color:#2e203c;font-family:'ABC Otto',sans-serif;font-size:17pt;font-weight:700;line-height:120%">Note 1—Basis of Presentation and Summary of Significant Accounting Policies </span></div><div style="margin-top:15pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Description of Business</span></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Etsy operates a two-sided online marketplace that connects millions of creative entrepreneurs with buyers around the world. The Etsy marketplace is the global destination for unique, creative goods from independent sellers, connecting artisans with thoughtful consumers seeking items that reflect their tastes and values. </span></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company generates revenue primarily from marketplace activities, including transaction fees (inclusive of offsite advertising), payments processing fees, and listing fees, as well as from optional seller services, which include on-site advertising and shipping labels.</span></div><div style="margin-top:15pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Basis of Consolidation</span></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The condensed consolidated financial statements include the accounts of Etsy and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. On July 30, 2026 (the “Closing Date”), Etsy completed the sale of Depop Limited (“Depop”), its fashion resale marketplace, and on June 2, 2025, Etsy completed the sale of Reverb Holdings, Inc. (“Reverb”), its musical instrument marketplace. The financial results of Depop and Reverb have been included in Etsy’s condensed consolidated financial statements through July 30, 2026 and until June 2, 2025, respectively.</span></div><div style="margin-top:15pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Assets Held for Sale and Discontinued Operations</span></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company classifies a business as held for sale when management commits to a plan to sell it, the sale is probable within one year, and the business is actively marketed at a price that is reasonable in relation to its fair value. Upon such classification, the Company measures the business at the lower of its carrying value or fair value less costs to sell, and ceases prospective depreciation and amortization. If the disposal represents a strategic shift that has, or will have, a major effect on operations and financial results, the Company presents the business as a discontinued operation and retrospectively reclassifies prior period amounts.</span></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As previously disclosed, on February 15, 2026, the Company executed a Sale and Purchase Agreement, as supplemented on May 21, 2026 and as amended on July 12, 2026 (collectively, the "Purchase Agreement"), to sell all of the outstanding equity interests of Depop to eBay Inc. ("eBay"), a Delaware corporation. The Company entered into the Purchase Agreement in an effort to focus on driving growth in the core Etsy marketplace.</span></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company determined in the first quarter of 2026 that the assets of the Depop subsidiary met the criteria for classification as held for sale. The Company analyzed the quantitative and qualitative factors relevant to the divestiture of Depop and determined the disposal represents a strategic shift that has a major effect on its operations and financial results. As such, the assets and liabilities, results of operations, and cash flows of Depop are presented as discontinued operations in the Consolidated Balance Sheets, Consolidated Statements of Operations, and Condensed Consolidated Statements of Cash Flows, respectively, for all periods presented</span><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> through </span><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">the Closing Date. In addition, divestiture-related expenses incurred as part of the Depop divestiture have been included in discontinued operations.</span></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Unless otherwise noted, all amounts and disclosures included in the Notes to Condensed Consolidated Financial Statements reflect only the Company’s continuing operations and exclude the results of the Depop marketplace. Refer to “Note 2—Discontinued Operations” for additional information.</span></div><div style="margin-top:15pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Basis of Presentation</span></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and pursuant to the applicable rules and regulations of the Securities and Exchange Commission (“SEC”). The Company has condensed or omitted certain information and notes normally included in complete annual financial statements prepared in accordance with GAAP. These unaudited interim condensed consolidated financial statements should therefore be read in conjunction with the audited consolidated financial statements and accompanying notes included in the Company’s Annual Report on Form 10-K filed with the SEC on February 19, 2026 (the “Annual Report”). In the opinion of management, all material adjustments, which are of a normal and recurring nature, necessary for a fair statement of the results for the periods presented have been reflected in the condensed consolidated financial statements. The results of operations of any interim period are not necessarily indicative of the results of operations for the full annual period or any future period due to seasonal and other factors.</span></div><div style="margin-top:15pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of condensed consolidated financial statements in conformity with GAAP requires the Company to make estimates and judgments that affect the amounts reported and disclosed in the condensed consolidated financial statements and accompanying notes. Actual results could differ from these estimates and judgments. The accounting estimates that require management’s most subjective judgments include: income taxes, including the estimate of the annual effective tax rate at interim periods and evaluation of uncertain tax positions; valuation of goodwill; and leases. As of September 30, 2026, there continues to be significant global macroeconomic and geopolitical uncertainty which may impact the Company’s business, results of operations, and financial condition. As a result, many of the Company’s estimates and judgments require increased judgment and carry a higher degree of variability and volatility. As additional information becomes available, the Company’s estimates may change materially in future periods.</span></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Recently Adopted Accounting Pronouncements</span></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In July 2025, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2025-05, </span><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets</span><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, which amends the guidance for estimating expected credit losses on accounts receivable and contract assets, requiring entities to apply a current expected credit loss model. The Company adopted this standard effective January 1, 2026 on a prospective basis. The adoption did not have a material impact on the Company’s consolidated financial statements or results of operations.</span></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In November 2024, the FASB issued ASU 2024-04, </span><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Debt—Debt with Conversion and Other Options (Subtopic 470-20): Induced Conversions of Convertible Debt Instruments</span><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, which clarifies the assessment of whether certain settlements of convertible debt instruments should be accounted for as an induced conversion or extinguishment of convertible debt. The Company adopted this standard effective January 1, 2026 on a prospective basis. The adoption did not have a material impact on the Company’s consolidated financial statements or results of operations.</span></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Recently Issued Accounting Pronouncements</span></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In May 2026, the FASB issued ASU 2026-02, </span><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Environmental Credits and Environmental Credit Obligations (Topic 818)</span><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, which establishes standardized requirements for the recognition, measurement, presentation, and disclosure of environmental credits and related obligations. The amendments are effective for annual reporting periods beginning after December 15, 2027, including interim reporting periods within those annual periods, and are to be applied retrospectively. Early adoption is permitted. The Company is currently evaluating the impact of this guidance on its consolidated financial statements and related disclosures.</span></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In December 2025, the FASB issued ASU 2025-12, </span><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Codification Improvements</span><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, which includes amendments that clarify guidance, correct errors, and make other minor improvements to the FASB Accounting Standards Codification (“ASC”). The amendments are effective for interim and annual reporting periods beginning after December 15, 2026, and are to be applied either prospectively or retrospectively, depending on the specific guidance amended. Early adoption is permitted, including on an issue-by-issue basis. The Company is currently evaluating the impact of this guidance on its consolidated financial statements and related disclosures.</span></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In December 2025, the FASB issued ASU 2025-11, </span><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Interim Reporting (Topic 270): Narrow-Scope Improvements,</span><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> which clarifies the scope and applicability of the interim reporting guidance in Topic 270 and improves the navigability of the interim disclosure requirements. The amendments are effective for interim and annual periods beginning after December 15, 2027, and are to be applied prospectively. Early adoption is permitted. The Company is currently evaluating the impact of this guidance on its consolidated financial statements and related disclosures.</span></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In September 2025, the FASB issued ASU 2025-06, </span><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software</span><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, which updates the guidance for accounting for internal-use software costs. An entity will be required to start capitalizing software costs when (1) management has authorized and committed to funding the project and (2) it is probable the project will be completed and the software will be used as intended. The amendments are effective for annual reporting periods beginning after December 15, 2027, including interim periods within those annual periods. Early adoption is permitted, and entities may apply the guidance on a prospective, retrospective, or modified transition basis. The Company is currently evaluating the impact of the standard on its consolidated financial statements and related disclosures.</span></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In November 2024, the FASB issued ASU 2024-03,</span><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%"> Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses</span><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. The primary objective is to disclose disaggregated information about specific categories underlying certain income statement expense line items for both annual and interim periods in a tabular format. The amendments are effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027, and can be applied on a prospective basis, although retrospective application to all periods presented is permitted. Early adoption is permitted. The Company is currently evaluating the impact of the standard on its disclosures.</span></div> <div style="margin-top:15pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Basis of Consolidation</span></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The condensed consolidated financial statements include the accounts of Etsy and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. On July 30, 2026 (the “Closing Date”), Etsy completed the sale of Depop Limited (“Depop”), its fashion resale marketplace, and on June 2, 2025, Etsy completed the sale of Reverb Holdings, Inc. (“Reverb”), its musical instrument marketplace. The financial results of Depop and Reverb have been included in Etsy’s condensed consolidated financial statements through July 30, 2026 and until June 2, 2025, respectively.</span></div> <div style="margin-top:15pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Assets Held for Sale and Discontinued Operations</span></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company classifies a business as held for sale when management commits to a plan to sell it, the sale is probable within one year, and the business is actively marketed at a price that is reasonable in relation to its fair value. Upon such classification, the Company measures the business at the lower of its carrying value or fair value less costs to sell, and ceases prospective depreciation and amortization. If the disposal represents a strategic shift that has, or will have, a major effect on operations and financial results, the Company presents the business as a discontinued operation and retrospectively reclassifies prior period amounts.</span></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As previously disclosed, on February 15, 2026, the Company executed a Sale and Purchase Agreement, as supplemented on May 21, 2026 and as amended on July 12, 2026 (collectively, the "Purchase Agreement"), to sell all of the outstanding equity interests of Depop to eBay Inc. ("eBay"), a Delaware corporation. The Company entered into the Purchase Agreement in an effort to focus on driving growth in the core Etsy marketplace.</span></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company determined in the first quarter of 2026 that the assets of the Depop subsidiary met the criteria for classification as held for sale. The Company analyzed the quantitative and qualitative factors relevant to the divestiture of Depop and determined the disposal represents a strategic shift that has a major effect on its operations and financial results. As such, the assets and liabilities, results of operations, and cash flows of Depop are presented as discontinued operations in the Consolidated Balance Sheets, Consolidated Statements of Operations, and Condensed Consolidated Statements of Cash Flows, respectively, for all periods presented</span><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> through </span><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">the Closing Date. In addition, divestiture-related expenses incurred as part of the Depop divestiture have been included in discontinued operations.</span></div> <div style="margin-top:15pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Basis of Presentation</span></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and pursuant to the applicable rules and regulations of the Securities and Exchange Commission (“SEC”). The Company has condensed or omitted certain information and notes normally included in complete annual financial statements prepared in accordance with GAAP. These unaudited interim condensed consolidated financial statements should therefore be read in conjunction with the audited consolidated financial statements and accompanying notes included in the Company’s Annual Report on Form 10-K filed with the SEC on February 19, 2026 (the “Annual Report”). In the opinion of management, all material adjustments, which are of a normal and recurring nature, necessary for a fair statement of the results for the periods presented have been reflected in the condensed consolidated financial statements. The results of operations of any interim period are not necessarily indicative of the results of operations for the full annual period or any future period due to seasonal and other factors.</span></div> <div style="margin-top:15pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of condensed consolidated financial statements in conformity with GAAP requires the Company to make estimates and judgments that affect the amounts reported and disclosed in the condensed consolidated financial statements and accompanying notes. Actual results could differ from these estimates and judgments. The accounting estimates that require management’s most subjective judgments include: income taxes, including the estimate of the annual effective tax rate at interim periods and evaluation of uncertain tax positions; valuation of goodwill; and leases. As of September 30, 2026, there continues to be significant global macroeconomic and geopolitical uncertainty which may impact the Company’s business, results of operations, and financial condition. As a result, many of the Company’s estimates and judgments require increased judgment and carry a higher degree of variability and volatility. As additional information becomes available, the Company’s estimates may change materially in future periods.</span></div> <div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Recently Adopted Accounting Pronouncements</span></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In July 2025, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2025-05, </span><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets</span><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, which amends the guidance for estimating expected credit losses on accounts receivable and contract assets, requiring entities to apply a current expected credit loss model. The Company adopted this standard effective January 1, 2026 on a prospective basis. The adoption did not have a material impact on the Company’s consolidated financial statements or results of operations.</span></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In November 2024, the FASB issued ASU 2024-04, </span><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Debt—Debt with Conversion and Other Options (Subtopic 470-20): Induced Conversions of Convertible Debt Instruments</span><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, which clarifies the assessment of whether certain settlements of convertible debt instruments should be accounted for as an induced conversion or extinguishment of convertible debt. The Company adopted this standard effective January 1, 2026 on a prospective basis. The adoption did not have a material impact on the Company’s consolidated financial statements or results of operations.</span></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Recently Issued Accounting Pronouncements</span></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In May 2026, the FASB issued ASU 2026-02, </span><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Environmental Credits and Environmental Credit Obligations (Topic 818)</span><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, which establishes standardized requirements for the recognition, measurement, presentation, and disclosure of environmental credits and related obligations. The amendments are effective for annual reporting periods beginning after December 15, 2027, including interim reporting periods within those annual periods, and are to be applied retrospectively. Early adoption is permitted. The Company is currently evaluating the impact of this guidance on its consolidated financial statements and related disclosures.</span></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In December 2025, the FASB issued ASU 2025-12, </span><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Codification Improvements</span><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, which includes amendments that clarify guidance, correct errors, and make other minor improvements to the FASB Accounting Standards Codification (“ASC”). The amendments are effective for interim and annual reporting periods beginning after December 15, 2026, and are to be applied either prospectively or retrospectively, depending on the specific guidance amended. Early adoption is permitted, including on an issue-by-issue basis. The Company is currently evaluating the impact of this guidance on its consolidated financial statements and related disclosures.</span></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In December 2025, the FASB issued ASU 2025-11, </span><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Interim Reporting (Topic 270): Narrow-Scope Improvements,</span><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> which clarifies the scope and applicability of the interim reporting guidance in Topic 270 and improves the navigability of the interim disclosure requirements. The amendments are effective for interim and annual periods beginning after December 15, 2027, and are to be applied prospectively. Early adoption is permitted. The Company is currently evaluating the impact of this guidance on its consolidated financial statements and related disclosures.</span></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In September 2025, the FASB issued ASU 2025-06, </span><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software</span><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, which updates the guidance for accounting for internal-use software costs. An entity will be required to start capitalizing software costs when (1) management has authorized and committed to funding the project and (2) it is probable the project will be completed and the software will be used as intended. The amendments are effective for annual reporting periods beginning after December 15, 2027, including interim periods within those annual periods. Early adoption is permitted, and entities may apply the guidance on a prospective, retrospective, or modified transition basis. The Company is currently evaluating the impact of the standard on its consolidated financial statements and related disclosures.</span></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In November 2024, the FASB issued ASU 2024-03,</span><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%"> Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses</span><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. The primary objective is to disclose disaggregated information about specific categories underlying certain income statement expense line items for both annual and interim periods in a tabular format. The amendments are effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027, and can be applied on a prospective basis, although retrospective application to all periods presented is permitted. Early adoption is permitted. The Company is currently evaluating the impact of the standard on its disclosures.</span></div> <div style="margin-top:15pt"><span style="color:#2e203c;font-family:'ABC Otto',sans-serif;font-size:17pt;font-weight:700;line-height:120%">Note 2—Discontinued Operations</span></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On July 30, 2026, the Company completed the sale of Depop to eBay for aggregate cash consideration of $1.4 billion, reflecting the purchase price of $1.2 billion plus $200.0 million of net purchase price</span><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> adjustments and interest as set forth in the Purchase Agreement. The consideration received is subject to customary post-closing adjustments. Any post-closing adjustments are expected to adjust the gain on sale amount included in</span><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> income (loss) from discontinued operations</span><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> before income taxes in the period in which they are finalized. </span></div><div style="margin-top:10pt"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The financial results of Depop have been included in Etsy’s condensed consolidated financial statements through </span><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">the Closing Date</span><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. </span><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company recognized a gain on sale of Depop of $839.7 million during the three and nine months ended September 30, 2026. </span><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The gain on sale, together with Depop’s results of operations through the Closing Date, are included </span><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">in income (loss) from discontinued operations before income taxes in the Consolidated Statements of Operations for the three and nine months ended September 30, 2026. </span></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The gain on sale includes aggregate cash consideration of $1.4 billion less (i) derecognition of Depop net assets of $313.1 million; (ii) a reclassification out of accumulated other comprehensive loss of $236.4 million related to cumulative translation adjustment associated with Depop, which was a non-cash component of the gain on sale; and (iii) costs incurred to sell the business of $10.7 million. </span></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net cash provided by investing activities of discontinued operations for the nine months ended September 30, 2026 includes $1.4 billion of proceeds from the sale of Depop, net of $78.8 million of cash and cash equivalents.</span></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Financial Information of Discontinued Operations (Depop)</span></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table summarizes the major line items for Depop that are included within net income (loss) from discontinued operations in the Consolidated Statements of Operations for the periods presented below (in thousands):</span></div><div style="margin-top:10pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.701%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.449%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.449%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.449%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.452%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Three Months Ended <br/> September 30,</span></td><td colspan="6" style="border-left:1pt solid #000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Nine Months Ended <br/>September 30,</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2025</span></td><td colspan="3" style="border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2025</span></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Revenue</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,433 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#dfd3e8;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">53,873 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#dfd3e8;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">138,586 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#dfd3e8;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">136,377 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cost of revenue</span></td><td colspan="2" style="background-color:#ffffff;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">14,811 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">28,416 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">82,849 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">77,601 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Gross profit</span></td><td colspan="2" style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(12,378)</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25,457 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">55,737 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">58,776 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Operating expenses:</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 13pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Marketing</span></td><td colspan="2" style="background-color:#dfd3e8;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">81,615 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">34,472 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">293,885 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">72,676 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 13pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Product development</span></td><td colspan="2" style="background-color:#ffffff;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">644 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">13,612 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">28,574 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">35,848 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 13pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">General and administrative</span></td><td colspan="2" style="background-color:#dfd3e8;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,434 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,666 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">27,955 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">14,671 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 19pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total operating expenses</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">85,693 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">53,750 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">350,414 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">123,195 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Loss from discontinued operations</span></td><td colspan="2" style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(98,071)</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(28,293)</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(294,677)</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(64,419)</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other income (expense): </span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 13pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Gain on sale of Depop</span></td><td colspan="2" style="background-color:#dfd3e8;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">839,716 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">839,716 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 13pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Foreign exchange gain (loss)</span></td><td colspan="2" style="background-color:#ffffff;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,051)</span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">228 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,023)</span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(137)</span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other income (expense), net</span></td><td colspan="2" style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">838,665 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">228 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">838,693 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(137)</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Income (loss) from discontinued operations before income taxes</span></td><td colspan="2" style="background-color:#ffffff;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">740,594 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(28,065)</span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">544,016 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(64,556)</span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Provision) benefit for income taxes</span></td><td colspan="2" style="background-color:#dfd3e8;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(714)</span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,028)</span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(107)</span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,656 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net income (loss) from discontinued operations</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">739,880 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(29,093)</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">543,909 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(62,900)</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">No assets or liabilities of Depop remain in the Consolidated Balance Sheet as of September 30, 2026, following completion of the sale of Depop. The following table summarizes the carrying amounts of major classes of assets and liabilities of Depop’s discontinued operations as of December 31, 2025 (in thousands):</span></div><div style="margin-top:10pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:82.379%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:15.421%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">As of December 31, <br/>2025</span></td></tr><tr><td colspan="3" style="background-color:#2e203c;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#ffffff;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Assets</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#2e203c;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cash and cash equivalents</span></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">40,408 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Prepaid and other current assets</span></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">13,414 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total current assets</span></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">53,822 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Property and equipment, net</span></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">23,645 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Intangible assets, net</span></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">282,841 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other assets</span></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">740 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total non-current assets</span></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">307,226 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#2e203c;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#ffffff;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Liabilities</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#2e203c;padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Accrued expenses</span></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50,815 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other current liabilities</span></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,459 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total current liabilities</span></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">52,274 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other liabilities</span></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,107 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total non-current liabilities</span></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,107 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:15pt"><span style="color:#2e203c;font-family:'ABC Otto',sans-serif;font-size:17pt;font-weight:700;line-height:120%">Note 3—Sale of Business</span></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For the sale of Depop completed on July 30, 2026 see “Note 2—Discontinued Operations.”</span></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On April 21, 2025, the Company entered into an agreement to sell Reverb to Reverb IntermediateCo LLC, a Delaware limited liability company and wholly owned subsidiary of Reverb Partners LLC, a Delaware limited liability company, in an effort to focus on driving growth in the core Etsy marketplace. Reverb Partners LLC is an affiliate of Servco Pacific Inc., a Hawaii corporation, and Creator Partners LLC, a Delaware limited liability company, for a purchase price of $105.0 million in cash, subject to certain closing adjustments.</span></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The transaction closed on June 2, 2025 and the Company recorded a loss on sale of $5.1 million during the nine months ended September 30, 2025. The loss on sale is the difference between the fair value of the consideration received of $108.2 million and the carrying amount of Reverb’s net assets as of the closing date of $113.3 million.</span></div> 1400000000 1200000000 200000000.0 839700000 839700000 1400000000 313100000 236400000 10700000 1400000000 78800000 <div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table summarizes the major line items for Depop that are included within net income (loss) from discontinued operations in the Consolidated Statements of Operations for the periods presented below (in thousands):</span></div><div style="margin-top:10pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.701%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.449%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.449%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.449%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.452%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Three Months Ended <br/> September 30,</span></td><td colspan="6" style="border-left:1pt solid #000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Nine Months Ended <br/>September 30,</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2025</span></td><td colspan="3" style="border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2025</span></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Revenue</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,433 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#dfd3e8;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">53,873 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#dfd3e8;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">138,586 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#dfd3e8;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">136,377 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cost of revenue</span></td><td colspan="2" style="background-color:#ffffff;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">14,811 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">28,416 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">82,849 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">77,601 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Gross profit</span></td><td colspan="2" style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(12,378)</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25,457 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">55,737 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">58,776 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Operating expenses:</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 13pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Marketing</span></td><td colspan="2" style="background-color:#dfd3e8;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">81,615 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">34,472 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">293,885 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">72,676 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 13pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Product development</span></td><td colspan="2" style="background-color:#ffffff;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">644 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">13,612 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">28,574 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">35,848 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 13pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">General and administrative</span></td><td colspan="2" style="background-color:#dfd3e8;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,434 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,666 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">27,955 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">14,671 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 19pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total operating expenses</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">85,693 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">53,750 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">350,414 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">123,195 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Loss from discontinued operations</span></td><td colspan="2" style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(98,071)</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(28,293)</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(294,677)</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(64,419)</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other income (expense): </span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 13pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Gain on sale of Depop</span></td><td colspan="2" style="background-color:#dfd3e8;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">839,716 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">839,716 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 13pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Foreign exchange gain (loss)</span></td><td colspan="2" style="background-color:#ffffff;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,051)</span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">228 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,023)</span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(137)</span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other income (expense), net</span></td><td colspan="2" style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">838,665 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">228 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">838,693 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(137)</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Income (loss) from discontinued operations before income taxes</span></td><td colspan="2" style="background-color:#ffffff;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">740,594 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(28,065)</span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">544,016 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(64,556)</span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Provision) benefit for income taxes</span></td><td colspan="2" style="background-color:#dfd3e8;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(714)</span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,028)</span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(107)</span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,656 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net income (loss) from discontinued operations</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">739,880 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(29,093)</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">543,909 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(62,900)</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div>The following table summarizes the carrying amounts of major classes of assets and liabilities of Depop’s discontinued operations as of December 31, 2025 (in thousands):<div style="margin-top:10pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:82.379%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:15.421%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">As of December 31, <br/>2025</span></td></tr><tr><td colspan="3" style="background-color:#2e203c;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#ffffff;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Assets</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#2e203c;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cash and cash equivalents</span></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">40,408 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Prepaid and other current assets</span></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">13,414 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total current assets</span></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">53,822 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Property and equipment, net</span></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">23,645 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Intangible assets, net</span></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">282,841 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other assets</span></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">740 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total non-current assets</span></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">307,226 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#2e203c;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#ffffff;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Liabilities</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#2e203c;padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Accrued expenses</span></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50,815 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other current liabilities</span></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,459 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total current liabilities</span></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">52,274 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other liabilities</span></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,107 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total non-current liabilities</span></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,107 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div> 2433000 53873000 138586000 136377000 14811000 28416000 82849000 77601000 -12378000 25457000 55737000 58776000 81615000 34472000 293885000 72676000 644000 13612000 28574000 35848000 3434000 5666000 27955000 14671000 85693000 53750000 350414000 123195000 -98071000 -28293000 -294677000 -64419000 839716000 0 839716000 0 -1051000 228000 -1023000 -137000 838665000 228000 838693000 -137000 740594000 -28065000 544016000 -64556000 714000 1028000 107000 -1656000 739880000 -29093000 543909000 -62900000 40408000 13414000 53822000 23645000 282841000 740000 307226000 50815000 1459000 52274000 1107000 1107000 105000000.0 -5100000 108200000 113300000 <div style="margin-top:15pt"><span style="color:#2e203c;font-family:'ABC Otto',sans-serif;font-size:17pt;font-weight:700;line-height:120%">Note 4—Revenue</span></div><div style="margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.116%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.595%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:10.595%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:10.595%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:10.599%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Three Months Ended <br/> September 30,</span></td><td colspan="3" style="display:none"></td><td colspan="6" style="border-left:1pt solid #000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Nine Months Ended <br/> September 30,</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-left:1pt solid #2e203c;border-top:1pt solid #000000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2025</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-left:1pt solid #000;border-top:1pt solid #000000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-left:1pt solid #000;border-top:1pt solid #000000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2025</span></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Marketplace revenue</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">468,143 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">429,081 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #000;border-top:1pt solid #000000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,356,990 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #000;border-top:1pt solid #000000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,292,343 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Services revenue</span></td><td colspan="2" style="background-color:#ffffff;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">224,326 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">195,072 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">635,069 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">573,145 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Revenue</span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">692,469 </span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000000;border-left:1pt solid #2e203c;border-top:1pt solid #000000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">624,153 </span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000000;border-left:1pt solid #000;border-top:1pt solid #000000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,992,059 </span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000000;border-left:1pt solid #000;border-top:1pt solid #000000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,865,488 </span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:6pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Contract balances </span></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Deferred revenues</span></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The amount of revenue recognized in </span><span style="color:#2e203c;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">the nine months ended September 30, 2026</span><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> that was included in the deferred balance at January 1, </span><span style="color:#2e203c;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2026</span><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> was </span><span style="color:#2e203c;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$24.3 million</span><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">.</span></div> <div style="margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.116%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.595%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:10.595%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:10.595%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:10.599%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Three Months Ended <br/> September 30,</span></td><td colspan="3" style="display:none"></td><td colspan="6" style="border-left:1pt solid #000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Nine Months Ended <br/> September 30,</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-left:1pt solid #2e203c;border-top:1pt solid #000000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2025</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-left:1pt solid #000;border-top:1pt solid #000000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-left:1pt solid #000;border-top:1pt solid #000000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2025</span></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Marketplace revenue</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">468,143 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">429,081 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #000;border-top:1pt solid #000000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,356,990 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #000;border-top:1pt solid #000000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,292,343 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Services revenue</span></td><td colspan="2" style="background-color:#ffffff;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">224,326 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">195,072 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">635,069 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">573,145 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Revenue</span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">692,469 </span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000000;border-left:1pt solid #2e203c;border-top:1pt solid #000000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">624,153 </span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000000;border-left:1pt solid #000;border-top:1pt solid #000000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,992,059 </span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000000;border-left:1pt solid #000;border-top:1pt solid #000000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,865,488 </span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div> 468143000 429081000 1356990000 1292343000 224326000 195072000 635069000 573145000 692469000 624153000 1992059000 1865488000 24300000 <div style="margin-top:15pt"><span style="color:#2e203c;font-family:'ABC Otto',sans-serif;font-size:17pt;font-weight:700;line-height:120%">Note 5—Income Taxes </span></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company’s provision or benefit from income taxes in interim periods is determined using an estimate of the annual effective tax rate, adjusted for discrete items, if any, that are taken into account in the relevant period. Each quarter, the Company updates its estimate of the annual effective tax rate, and if its estimated tax rate changes, the Company makes a cumulative adjustment. The estimate of the annual effective income tax rate for the full year is applied to the respective interim period, taking into account year-to-date amounts and projected results for the full year.</span></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For the nine months ended September 30, 2026, the Company’s effective income tax rate was 15.3% representing a provision for income taxes from continuing operations recorded on net income from continuing operations before taxes. The effective tax rate for the nine months ended September 30, 2026 was favorably impacted by foreign operations taxed at a lower rate.</span></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Although management believes its tax positions and related provisions reflected in the condensed consolidated financial statements are fully supportable, it recognizes that these tax positions and related provisions may be challenged by various tax authorities. These tax positions and related provisions are reviewed on an ongoing basis and are adjusted as additional facts and information become available, including progress on tax audits, changes in interpretation of tax laws, developments in case law and closing of statute of limitations. To the extent that the ultimate results differ from the original or adjusted estimates of the Company, the effect will be included in the provision for income taxes.</span></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">A significant period of time may elapse between the filing of an income tax return and the ultimate resolution of an issue raised by a revenue authority with respect to that return. Any adjustments as a result of any examination may result in additional taxes and/or penalties against the Company. If the ultimate result of these audits differ from original or adjusted estimates, they could have a material impact on the Company’s tax provision.</span></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The amount of unrecognized tax benefits included in the Consolidated Balance Sheets increased $7.1 million in the nine months ended September 30, 2026, from $55.7 million as of December 31, 2025 to $62.8 million as of September 30, 2026. The total amount of unrecognized tax benefits that, if recognized, would favorably affect the effective tax rate is $58.3 million as of September 30, 2026. The total amount of unrecognized tax benefits relating to the Company’s tax positions is subject to change based on future events including, but not limited to, the settlements of ongoing audits and/or the expiration of applicable statutes of limitations. </span></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company recognizes interest and/or penalties related to uncertain tax positions in income tax expense. For the nine months ended September 30, 2026, the Company recorded interest and penalties of $4.2 million as a component of income tax expense, which increased the cumulative balance from $9.8 million as of December 31, 2025 to $14.0 million as of September 30, 2026.</span></div>On July 4, 2025, the One Big Beautiful Bill Act (“OBBBA”) was enacted in the U.S. OBBBA includes significant corporate tax changes, including a restoration of the current deductibility for domestic research expenditures beginning in 2025, with transition options for previously capitalized amounts. OBBBA also includes changes to certain U.S. international provisions beginning in 2026. While certain provisions of OBBBA may favorably change the timing of cash tax payments in the near term, the Company does not expect the legislation to have a material impact on the provision for income taxes. 0.153 7100000 55700000 62800000 58300000 4200000 9800000 14000000.0 <div style="margin-top:15pt"><span style="color:#2e203c;font-family:'ABC Otto',sans-serif;font-size:17pt;font-weight:700;line-height:120%">Note 6—Net Income (Loss) Per Share</span></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table presents the calculation of basic and diluted </span><span style="color:#2e203c;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">net income (loss) per share</span><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> for the periods presented below (in thousands, except per share amounts):</span></div><div style="margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:52.340%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.466%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:10.466%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:10.613%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:10.615%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:1.5pt 1pt;text-align:left;vertical-align:bottom"></td><td colspan="6" style="padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Three Months Ended <br/> September 30,</span></td><td colspan="3" style="display:none"></td><td colspan="6" style="border-left:1pt solid #000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Nine Months Ended <br/> September 30,</span></td></tr><tr><td colspan="3" style="padding:1.5pt 1pt;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-left:1pt solid #000;border-top:1pt solid #000000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2025</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2025</span></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Numerator:</span></td><td colspan="3" style="background-color:#dfd3e8;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #000;border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net income from continuing operations—basic</span></td><td style="background-color:#ffffff;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">113,637 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">104,596 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">332,638 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">115,147 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Add back interest expense, net of tax attributable to assumed conversion of convertible senior notes </span></td><td colspan="2" style="background-color:#dfd3e8;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,337 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,333 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10,011 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,792 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net income from continuing operations—diluted</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">116,974 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">107,929 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">342,649 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">121,939 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:top"><div><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </span></div></td><td colspan="3" style="background-color:#dfd3e8;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #000;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #000;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #000;border-top:3pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net income (loss) from discontinued operations—basic and diluted</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">739,880 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(29,093)</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">543,909 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(62,900)</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#dfd3e8;padding:0 1pt"></td><td colspan="3" style="background-color:#dfd3e8;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #000;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #000;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #000;border-top:3pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total net income—basic</span></td><td style="background-color:#ffffff;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">853,517 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">75,503 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">876,547 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">52,247 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Add back interest expense, net of tax attributable to assumed conversion of convertible senior notes</span></td><td colspan="2" style="background-color:#dfd3e8;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,337 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,333 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10,011 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,792 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total net income—diluted</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">856,854 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">78,836 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">886,558 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">59,039 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#dfd3e8;padding:0 1pt"></td><td colspan="3" style="background-color:#dfd3e8;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #000;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #000;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #000;border-top:3pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Denominator:</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Weighted-average common shares outstanding—basic</span></td><td colspan="2" style="background-color:#dfd3e8;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">91,099 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">99,334 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">94,273 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">103,660 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Dilutive effect of outstanding stock-based compensation awards</span></td><td colspan="2" style="background-color:#ffffff;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,263 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,750 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,295 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,452 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Dilutive effect of assumed conversion of convertible senior notes</span></td><td colspan="2" style="background-color:#dfd3e8;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">22,873 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">22,873 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">22,873 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">17,912 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Weighted-average common shares outstanding—diluted</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">117,235 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">124,957 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">120,441 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">124,024 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#dfd3e8;padding:0 1pt"></td><td colspan="3" style="background-color:#dfd3e8;border-top:3pt double #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #000;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #000;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #000;border-top:3pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Basic net income (loss) per share attributable to common stockholders:</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 7pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Continuing operations</span></td><td style="background-color:#dfd3e8;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.25 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.05 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.53 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.11 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 7pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Discontinued operations</span></td><td colspan="2" style="background-color:#ffffff;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8.12 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(0.29)</span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5.77 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(0.61)</span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 13pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total basic net income per share attributable to common stockholders</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9.37 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.76 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9.30 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.50 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #000;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #000;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #000;border-top:3pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Diluted net income (loss) per share attributable to common stockholders:</span></td><td colspan="3" style="background-color:#dfd3e8;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 7pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Continuing operations</span></td><td style="background-color:#ffffff;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.00 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.86 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.84 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.98 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 7pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Discontinued operations</span></td><td colspan="2" style="background-color:#dfd3e8;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6.31 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(0.23)</span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.52 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(0.51)</span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 13pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total diluted net income per share attributable to common stockholders</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7.31 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.63 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7.36 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.47 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#dfd3e8;padding:0 1pt"></td><td colspan="3" style="background-color:#dfd3e8;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #000;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #000;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #000;border-top:3pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Outstanding stock-based compensation awards excluded from diluted weighted-average common shares outstanding because their effect would have been anti-dilutive</span></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">633 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #000;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,831 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #000;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,032 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #000;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,086 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div> <div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table presents the calculation of basic and diluted </span><span style="color:#2e203c;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">net income (loss) per share</span><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> for the periods presented below (in thousands, except per share amounts):</span></div><div style="margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:52.340%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.466%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:10.466%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:10.613%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:10.615%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:1.5pt 1pt;text-align:left;vertical-align:bottom"></td><td colspan="6" style="padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Three Months Ended <br/> September 30,</span></td><td colspan="3" style="display:none"></td><td colspan="6" style="border-left:1pt solid #000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Nine Months Ended <br/> September 30,</span></td></tr><tr><td colspan="3" style="padding:1.5pt 1pt;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-left:1pt solid #000;border-top:1pt solid #000000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2025</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2025</span></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Numerator:</span></td><td colspan="3" style="background-color:#dfd3e8;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #000;border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net income from continuing operations—basic</span></td><td style="background-color:#ffffff;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">113,637 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">104,596 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">332,638 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">115,147 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Add back interest expense, net of tax attributable to assumed conversion of convertible senior notes </span></td><td colspan="2" style="background-color:#dfd3e8;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,337 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,333 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10,011 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,792 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net income from continuing operations—diluted</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">116,974 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">107,929 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">342,649 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">121,939 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:top"><div><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </span></div></td><td colspan="3" style="background-color:#dfd3e8;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #000;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #000;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #000;border-top:3pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net income (loss) from discontinued operations—basic and diluted</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">739,880 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(29,093)</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">543,909 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(62,900)</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#dfd3e8;padding:0 1pt"></td><td colspan="3" style="background-color:#dfd3e8;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #000;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #000;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #000;border-top:3pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total net income—basic</span></td><td style="background-color:#ffffff;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">853,517 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">75,503 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">876,547 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">52,247 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Add back interest expense, net of tax attributable to assumed conversion of convertible senior notes</span></td><td colspan="2" style="background-color:#dfd3e8;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,337 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,333 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10,011 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,792 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total net income—diluted</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">856,854 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">78,836 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">886,558 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">59,039 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#dfd3e8;padding:0 1pt"></td><td colspan="3" style="background-color:#dfd3e8;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #000;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #000;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #000;border-top:3pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Denominator:</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Weighted-average common shares outstanding—basic</span></td><td colspan="2" style="background-color:#dfd3e8;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">91,099 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">99,334 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">94,273 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">103,660 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Dilutive effect of outstanding stock-based compensation awards</span></td><td colspan="2" style="background-color:#ffffff;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,263 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,750 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,295 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,452 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Dilutive effect of assumed conversion of convertible senior notes</span></td><td colspan="2" style="background-color:#dfd3e8;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">22,873 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">22,873 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">22,873 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">17,912 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Weighted-average common shares outstanding—diluted</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">117,235 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">124,957 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">120,441 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">124,024 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#dfd3e8;padding:0 1pt"></td><td colspan="3" style="background-color:#dfd3e8;border-top:3pt double #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #000;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #000;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #000;border-top:3pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Basic net income (loss) per share attributable to common stockholders:</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 7pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Continuing operations</span></td><td style="background-color:#dfd3e8;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.25 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.05 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.53 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.11 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 7pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Discontinued operations</span></td><td colspan="2" style="background-color:#ffffff;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8.12 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(0.29)</span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5.77 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(0.61)</span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 13pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total basic net income per share attributable to common stockholders</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9.37 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.76 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9.30 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.50 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #000;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #000;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #000;border-top:3pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Diluted net income (loss) per share attributable to common stockholders:</span></td><td colspan="3" style="background-color:#dfd3e8;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 7pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Continuing operations</span></td><td style="background-color:#ffffff;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.00 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.86 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.84 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.98 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 7pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Discontinued operations</span></td><td colspan="2" style="background-color:#dfd3e8;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6.31 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(0.23)</span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.52 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(0.51)</span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 13pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total diluted net income per share attributable to common stockholders</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7.31 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.63 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7.36 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.47 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#dfd3e8;padding:0 1pt"></td><td colspan="3" style="background-color:#dfd3e8;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #000;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #000;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #000;border-top:3pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Outstanding stock-based compensation awards excluded from diluted weighted-average common shares outstanding because their effect would have been anti-dilutive</span></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">633 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #000;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,831 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #000;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,032 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #000;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,086 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div> 113637000 104596000 332638000 115147000 3337000 3333000 10011000 6792000 116974000 107929000 342649000 121939000 739880000 739880000 -29093000 -29093000 543909000 543909000 -62900000 -62900000 853517000 75503000 876547000 52247000 3337000 3333000 10011000 6792000 856854000 78836000 886558000 59039000 91099000 99334000 94273000 103660000 3263000 2750000 3295000 2452000 22873000 22873000 22873000 17912000 117235000 124957000 120441000 124024000 1.25 1.05 3.53 1.11 8.12 -0.29 5.77 -0.61 9.37 0.76 9.30 0.50 1.00 0.86 2.84 0.98 6.31 -0.23 4.52 -0.51 7.31 0.63 7.36 0.47 633000 3831000 1032000 4086000 <div style="margin-top:15pt"><span style="color:#2e203c;font-family:'ABC Otto',sans-serif;font-size:17pt;font-weight:700;line-height:120%">Note 7—Goodwill</span></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table summarizes the changes in the carrying amount of goodwill for the periods indicated (in thousands):</span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:67.613%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.543%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:14.544%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">As of September 30, 2026</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-left:1pt solid #2e203c;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">As of December 31,<br/>2025</span></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Balance as of the beginning of the period (January 1)</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">38,067 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">137,089 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Impairment charge</span></td><td colspan="2" style="background-color:#ffffff;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(101,703)</span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Foreign currency translation adjustments</span></td><td colspan="2" style="background-color:#dfd3e8;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(787)</span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,681 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Balance as of the end of the period </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">37,280 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-left:1pt solid #2e203c;border-top:1pt solid #000000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">38,067 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">During the first quarter of 2025, circumstances changed for the Reverb reporting unit, making a sale of the business more likely than not. This triggered a quantitative impairment test of its goodwill, finite-lived intangible assets, and other long-lived assets as of March 31, 2025.</span></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The quantitative analysis indicated that the fair value of finite-lived intangible assets and other long-lived assets was sufficiently in excess of its carrying value. However, the carrying value of the Reverb reporting unit exceeded its fair value, resulting in a non-cash goodwill impairment charge of $101.7 million in the first quarter of 2025 to write off goodwill in full for the Reverb reporting unit. The fair value estimate for the reporting unit considered both income and market approaches, ultimately concluding that the estimated proceeds from the potential sale of the business unit was the most reliable indicator of fair value as of March 31, 2025. The Company sold Reverb in the second quarter of 2025. See “Note 3—Sale of Business” for additional information. The remaining goodwill balance is allocated to the Etsy reporting unit.</span></div> <span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table summarizes the changes in the carrying amount of goodwill for the periods indicated (in thousands):</span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:67.613%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.543%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:14.544%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">As of September 30, 2026</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-left:1pt solid #2e203c;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">As of December 31,<br/>2025</span></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Balance as of the beginning of the period (January 1)</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">38,067 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">137,089 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Impairment charge</span></td><td colspan="2" style="background-color:#ffffff;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(101,703)</span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Foreign currency translation adjustments</span></td><td colspan="2" style="background-color:#dfd3e8;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(787)</span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,681 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Balance as of the end of the period </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">37,280 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-left:1pt solid #2e203c;border-top:1pt solid #000000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">38,067 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table> 38067000 137089000 0 101703000 -787000 2681000 37280000 38067000 101700000 <div style="margin-top:15pt"><span style="color:#2e203c;font-family:'ABC Otto',sans-serif;font-size:17pt;font-weight:700;line-height:120%">Note 8—Segment and Geographic Information</span></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For the three and nine months ended September 30, 2026, the Company had one operating and reportable segment, Etsy. Following the sale of Reverb in the second quarter of 2025, the Company had two operating segments, Etsy and Depop, which at the time qualified for aggregation as one reportable segment because they met the quantitative and qualitative aggregation criteria prescribed by ASC 280, </span><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Segment Reporting</span><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. Depop was sold in the third quarter of 2026, and is classified as discontinued operations for all periods presented through the Closing Date, as discussed in “Note 2—Discontinued Operations.”</span></div><div style="margin-top:6pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company’s Chief Operating Decision Maker (“CODM”), the Chief Executive Officer, reviews operating results to assess performance and allocate resources at the segment level. In connection with Depop’s classification as discontinued operations, the Company changed its measure of profit or loss. The Company has concluded that net income from continuing operations is the measure of profit or loss required to be disclosed under ASC 280 for its single operating segment, although Adjusted EBITDA is another measure of operating performance that continues to be used by the CODM.</span></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The significant segment expenses that are regularly provided on a quarterly basis to the CODM are cost of revenue, marketing, product development, and general and administrative, which are presented on the face of the Consolidated Statements of Operations and included within net income from continuing operations. Other segment items include asset impairment charge, other income (expense), net, and provision for income taxes from continuing operations, which represent the total expenses included in net income from continuing operations, but are not regularly provided to the CODM. The CODM does not review segment assets at a different asset level or category as compared to what is presented in the Consolidated Balance Sheets.</span></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Revenue by country is based on the billing address of the seller. The following table summarizes revenue by geographic area (in thousands):</span></div><div style="margin-top:6pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.116%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.595%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:10.595%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:10.595%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:10.599%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Three Months Ended <br/> September 30,</span></td><td colspan="3" style="display:none"></td><td colspan="6" style="border-left:1pt solid #000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Nine Months Ended <br/> September 30,</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2025</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2025</span></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United States</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">322,135 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">299,091 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">937,013 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">910,594 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="2" style="background-color:#ffffff;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">65,254 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">64,592 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">192,607 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">192,191 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">All Other</span></td><td colspan="2" style="background-color:#dfd3e8;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">305,080 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">260,470 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">862,439 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">762,703 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Revenue</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">692,469 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">624,153 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,992,059 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,865,488 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:6pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For the three and nine months ended September 30, 2026, no individual country’s revenue exceeded 10% of total revenue, with the exception of the United States. For the three and nine months ended September 30, 2025, the United States and United Kingdom exceeded 10% of total revenue.</span></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table summarizes tangible long-lived assets by geographic area (in thousands):</span></div><div style="margin-top:6pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:67.613%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.543%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:14.544%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">As of September 30,<br/>2026</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-left:1pt solid #2e203c;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">As of December 31,<br/>2025</span></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United States</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">122,606 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">130,711 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Ireland </span></td><td colspan="2" style="background-color:#ffffff;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">14,546 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12,316 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">All Other</span></td><td colspan="2" style="background-color:#dfd3e8;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,757 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9,348 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Long-lived assets</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">144,909 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">152,375 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:6pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">No individual country’s tangible long-lived assets exceeded 10% of total tangible long-lived assets, with the exception of the United States and Ireland as of September 30, 2026 and the United States as of December 31, 2025.</span></div> 1 1 1 1 2 1 The following table summarizes revenue by geographic area (in thousands):<div style="margin-top:6pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.116%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.595%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:10.595%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:10.595%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:10.599%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Three Months Ended <br/> September 30,</span></td><td colspan="3" style="display:none"></td><td colspan="6" style="border-left:1pt solid #000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Nine Months Ended <br/> September 30,</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2025</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2025</span></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United States</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">322,135 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">299,091 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">937,013 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">910,594 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="2" style="background-color:#ffffff;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">65,254 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">64,592 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">192,607 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">192,191 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">All Other</span></td><td colspan="2" style="background-color:#dfd3e8;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">305,080 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">260,470 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">862,439 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">762,703 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Revenue</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">692,469 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">624,153 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,992,059 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,865,488 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div> 322135000 299091000 937013000 910594000 65254000 64592000 192607000 192191000 305080000 260470000 862439000 762703000 692469000 624153000 1992059000 1865488000 <div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table summarizes tangible long-lived assets by geographic area (in thousands):</span></div><div style="margin-top:6pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:67.613%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.543%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:14.544%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">As of September 30,<br/>2026</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-left:1pt solid #2e203c;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">As of December 31,<br/>2025</span></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United States</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">122,606 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">130,711 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Ireland </span></td><td colspan="2" style="background-color:#ffffff;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">14,546 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12,316 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">All Other</span></td><td colspan="2" style="background-color:#dfd3e8;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,757 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9,348 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Long-lived assets</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">144,909 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">152,375 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div> 122606000 130711000 14546000 12316000 7757000 9348000 144909000 152375000 <div style="margin-top:15pt"><span style="color:#2e203c;font-family:'ABC Otto',sans-serif;font-size:17pt;font-weight:700;line-height:120%">Note 9—Fair Value Measurements</span></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of September 30, 2026 and December 31, 2025, the Company’s cash equivalents, short-term investments, and long-term investments primarily consisted of available-for-sale debt securities. These debt securities are measured at fair value and classified within Level 1 or Level 2 in the fair value hierarchy as the Company uses unadjusted quoted prices for identical assets in an active market that the Company has the ability to access (Level 1) or quoted market prices in markets that are not active or model derived valuations in which all significant inputs are observable in active markets (Level 2).</span></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of September 30, 2026 and December 31, 2025, the Company’s short-term and long-term investments also consisted of investments in loan receivables and in third-party managed funds. The investments in loan receivables are measured on an amortized cost basis and classified in Level 3 of the fair value hierarchy as the fair value is derived from techniques in which one or more significant inputs are unobservable. The investments in third-party managed funds are measured on the net assets value (“NAV”) basis as a practical expedient. NAV is primarily determined based on the information provided by external fund administrators for which the most recent financial information is typically received on a lag within the quarter following the Company’s balance sheet date. These investments are intended to further the Company’s impact strategy as part of the Company’s Impact Investment Fund.</span></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table sets forth the cost, gross unrealized losses, gross unrealized gains, and fair value of the Company’s investments as of the dates indicated (in thousands):</span></div><div style="margin-top:6pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:26.239%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.280%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:9.280%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:9.280%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:9.280%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:9.280%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:9.280%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:9.281%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:1.5pt 1pt;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Cost</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-bottom:1pt solid #000000;border-left:1pt solid #2e203c;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Gross<br/>Unrealized<br/>Holding<br/>Loss</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-bottom:1pt solid #000000;border-left:1pt solid #2e203c;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Gross<br/>Unrealized<br/>Holding<br/>Gain</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-bottom:1pt solid #000000;border-left:1pt solid #2e203c;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fair Value</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-bottom:1pt solid #000000;border-left:1pt solid #2e203c;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Cash and Cash Equivalents</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-bottom:1pt solid #000000;border-left:1pt solid #2e203c;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Short-term Investments</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-bottom:1pt solid #000000;border-left:1pt solid #2e203c;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Long-term Investments</span></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">September 30, 2026</span></td><td colspan="3" style="background-color:#dfd3e8;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Level 1</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 12.25pt;text-align:left;vertical-align:top"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Money market funds (1)</span></td><td style="background-color:#dfd3e8;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,842,567 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,842,567 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,805,427 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 12.25pt;text-align:left;vertical-align:top"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">U.S. Government securities</span></td><td colspan="2" style="background-color:#ffffff;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">77,607 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(362)</span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">77,245 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50,108 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">27,137 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:0 1pt"></td><td colspan="2" style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,920,174 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(362)</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,919,812 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,805,427 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50,108 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">27,137 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Level 2</span></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 12.25pt;text-align:left;vertical-align:top"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Certificate of deposit</span></td><td colspan="2" style="background-color:#dfd3e8;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11,279 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(11)</span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11,269 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11,269 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 12.25pt;text-align:left;vertical-align:top"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Commercial paper</span></td><td colspan="2" style="background-color:#ffffff;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">63,394 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(105)</span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">63,289 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">63,289 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 12.25pt;text-align:left;vertical-align:top"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Corporate bonds</span></td><td colspan="2" style="background-color:#dfd3e8;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">211,928 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,253)</span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">27 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">210,702 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">116,377 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">94,325 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">286,601 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,369)</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">28 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">285,260 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">190,935 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">94,325 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Level 3</span></td><td colspan="3" style="background-color:#dfd3e8;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 12.25pt;text-align:left;vertical-align:top"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Loans receivable - held for investment</span></td><td colspan="2" style="background-color:#ffffff;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">17,500 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">17,500 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,000 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">13,500 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:0 1pt"></td><td colspan="2" style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">17,500 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">17,500 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,000 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">13,500 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,224,275 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,731)</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">28 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,222,572 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,805,427 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">245,043 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">134,962 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Measured at NAV (2)</span></td><td colspan="3" style="background-color:#dfd3e8;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:3pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 12.25pt;text-align:left;vertical-align:top"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Third-party managed funds</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">15,430 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:0 1pt"></td><td colspan="3" style="background-color:#dfd3e8;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">245,043 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">150,392 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">December 31, 2025</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;border-top:3pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Level 1</span></td><td colspan="3" style="background-color:#dfd3e8;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 12.25pt;text-align:left;vertical-align:top"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Money market funds</span></td><td style="background-color:#ffffff;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">946,932 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">946,932 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">946,932 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 12.25pt;text-align:left;vertical-align:top"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">U.S. Government securities</span></td><td colspan="2" style="background-color:#dfd3e8;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">76,816 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">204 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">77,020 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">52,002 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25,018 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,023,748 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">204 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,023,952 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">946,932 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">52,002 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25,018 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Level 2</span></td><td colspan="3" style="background-color:#dfd3e8;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 12.25pt;text-align:left;vertical-align:top"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Certificate of deposit</span></td><td colspan="2" style="background-color:#ffffff;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20,913 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">30 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20,943 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">19,240 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,703 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 12.25pt;text-align:left;vertical-align:top"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Commercial paper</span></td><td colspan="2" style="background-color:#dfd3e8;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">32,409 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">26 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">32,435 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">32,435 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 12.25pt;text-align:left;vertical-align:top"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Corporate bonds</span></td><td colspan="2" style="background-color:#ffffff;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">199,920 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(12)</span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">549 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">200,457 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">118,411 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">82,046 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:0 1pt"></td><td colspan="2" style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">253,242 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(12)</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">605 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">253,835 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">170,086 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">83,749 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Level 3</span></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 12.25pt;text-align:left;vertical-align:top"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Loans receivable - held for investment</span></td><td colspan="2" style="background-color:#dfd3e8;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">13,000 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">13,000 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">13,000 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">13,000 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">13,000 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">13,000 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:0 1pt"></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,289,990 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(12)</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">809 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,290,787 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">946,932 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">222,088 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">121,767 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Measured at NAV (2)</span></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;border-top:3pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 12.25pt;text-align:left;vertical-align:top"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Third-party managed funds</span></td><td colspan="3" style="background-color:#dfd3e8;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,000 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12,609 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">224,088 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">134,376 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:6pt;padding-left:18pt;text-indent:-18pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1)</span><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:10.31pt">$37.1 million of money market funds were classified as funds receivable and seller accounts as of September 30, 2026</span><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">.</span></div><div style="margin-top:6pt;padding-left:18pt;text-indent:-18pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(2)</span><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:8.76pt">Third-party managed funds measured on the NAV basis have not been categorized in the fair value hierarchy. The amount presented in the table is intended to permit reconciliation of the short-term and long-term investments in the fair value hierarchy to the amount presented in the Consolidated Balance Sheets.</span></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The tables below show the fair value and gross unrealized loss related to available-for-sale debt securities, aggregated by investment category and the length of time that the securities have been in a continuous unrealized loss position as of the dates indicated (in thousands):</span></div><div style="margin-top:10pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.116%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.595%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:10.595%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:10.595%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:10.599%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="12" style="border-bottom:1pt solid #000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">As of September 30, 2026</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="border-top:1pt solid #000;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Less than 12 Months</span></div></td><td colspan="3" style="display:none"></td><td colspan="6" style="border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12 Months or Greater</span></div></td></tr><tr><td colspan="3" style="padding:1.5pt 1pt;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fair Value</span></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Gross Unrealized Holding Loss</span></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fair Value</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Gross Unrealized Holding Loss</span></div></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">U.S. Government securities</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">66,457 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(362)</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Certificate of deposit</span></td><td colspan="2" style="background-color:#ffffff;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8,597 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(11)</span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Commercial paper</span></td><td colspan="2" style="background-color:#dfd3e8;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">61,083 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(105)</span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Corporate bonds</span></td><td colspan="2" style="background-color:#ffffff;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">183,456 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,253)</span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total </span></div></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">319,593 </span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,731)</span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:10pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.116%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.595%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:10.595%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:10.595%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:10.599%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="12" style="border-bottom:1pt solid #000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">As of December 31, 2025</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="border-top:1pt solid #000;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Less than 12 Months</span></div></td><td colspan="3" style="display:none"></td><td colspan="6" style="border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12 Months or Greater</span></div></td></tr><tr><td colspan="3" style="padding:1.5pt 1pt;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fair Value</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Gross Unrealized Holding Loss</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fair Value</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Gross Unrealized Holding Loss</span></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Corporate bonds</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">17,577 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(12)</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">17,577 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(12)</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company evaluates fair value for each individual security in the investment portfolio. When assessing the risk of credit loss, the Company considers factors such as the extent to which the fair value is less than the amortized cost basis, the credit rating, including whether there have been any changes to the rating of the security by a rating agency, available information relevant to the collectibility of the security, and management’s intended holding period and time horizon for selling the security. The Company did not recognize a credit loss in the three and nine months ended September 30, 2026 or 2025.</span></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Outside of the Company’s Impact Investment Fund, the Company typically invests in short- and long-term instruments, including fixed-income funds and U.S. Government securities aligned with the Company’s investment strategy. In accordance with the Company’s investment policy, all investments, other than investments made through its Impact Investment Fund, have maturities no longer than 37 months, with the average maturity of these investments maintained at 12 months or less.</span></div><div style="margin-top:15pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Disclosure of Fair Values</span></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company’s financial instruments that are not remeasured at fair value in the Consolidated Balance Sheets include the $700.0 million aggregate principal amount of 1.00% Convertible Senior Notes due 2030 (the “2025 Notes”), the $1.0 billion aggregate principal amount of 0.25% Convertible Senior Notes due 2028 (the “2021 Notes”), the $650.0 million aggregate principal amount of 0.125% Convertible Senior Notes due 2027 (the “2020 Notes”), and the $649.9 million aggregate principal amount of 0.125% Convertible Senior Notes due 2026 (the “2019 Notes” and, together with the 2025 Notes, 2021 Notes, and 2020 Notes, the “Notes”). See “</span><span style="color:#2e203c;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Note 11—Debt</span><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">” for additional information. The Company estimates the fair value of the Notes through inputs that are observable in the market, classified as Level 2 as described above. The following table presents the carrying value and estimated fair value of the Notes as of the dates indicated (in thousands):</span></div><div style="margin-top:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.116%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.595%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:10.595%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:10.595%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:10.599%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">As of September 30, 2026</span></td><td colspan="3" style="display:none"></td><td colspan="6" style="border-left:1pt solid #2e203c;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">As of December 31, 2025</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Carrying Value</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fair Value</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Carrying Value</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fair Value</span></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2025 Notes</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">691,591 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">776,160 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">689,890 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">709,800 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2021 Notes</span></td><td colspan="2" style="background-color:#ffffff;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">996,754 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">917,500 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">995,329 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">891,300 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2020 Notes</span></td><td colspan="2" style="background-color:#dfd3e8;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">648,906 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">620,750 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">648,011 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">608,595 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2019 Notes</span></td><td colspan="2" style="background-color:#ffffff;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">649,887 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">649,302 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">649,008 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">655,736 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:0 1pt"></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,987,138 </span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,963,712 </span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,982,238 </span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,865,431 </span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The carrying value of other financial instruments, including accounts receivable, funds receivable and seller accounts, accounts payable, and funds payable and amounts due to sellers approximate fair value due to the immediate or short-term maturity associated with these instruments.</span></div> <div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table sets forth the cost, gross unrealized losses, gross unrealized gains, and fair value of the Company’s investments as of the dates indicated (in thousands):</span></div><div style="margin-top:6pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:26.239%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.280%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:9.280%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:9.280%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:9.280%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:9.280%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:9.280%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:9.281%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:1.5pt 1pt;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Cost</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-bottom:1pt solid #000000;border-left:1pt solid #2e203c;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Gross<br/>Unrealized<br/>Holding<br/>Loss</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-bottom:1pt solid #000000;border-left:1pt solid #2e203c;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Gross<br/>Unrealized<br/>Holding<br/>Gain</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-bottom:1pt solid #000000;border-left:1pt solid #2e203c;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fair Value</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-bottom:1pt solid #000000;border-left:1pt solid #2e203c;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Cash and Cash Equivalents</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-bottom:1pt solid #000000;border-left:1pt solid #2e203c;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Short-term Investments</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-bottom:1pt solid #000000;border-left:1pt solid #2e203c;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Long-term Investments</span></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">September 30, 2026</span></td><td colspan="3" style="background-color:#dfd3e8;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Level 1</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 12.25pt;text-align:left;vertical-align:top"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Money market funds (1)</span></td><td style="background-color:#dfd3e8;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,842,567 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,842,567 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,805,427 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 12.25pt;text-align:left;vertical-align:top"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">U.S. Government securities</span></td><td colspan="2" style="background-color:#ffffff;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">77,607 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(362)</span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">77,245 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50,108 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">27,137 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:0 1pt"></td><td colspan="2" style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,920,174 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(362)</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,919,812 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,805,427 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50,108 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">27,137 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Level 2</span></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 12.25pt;text-align:left;vertical-align:top"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Certificate of deposit</span></td><td colspan="2" style="background-color:#dfd3e8;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11,279 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(11)</span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11,269 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11,269 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 12.25pt;text-align:left;vertical-align:top"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Commercial paper</span></td><td colspan="2" style="background-color:#ffffff;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">63,394 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(105)</span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">63,289 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">63,289 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 12.25pt;text-align:left;vertical-align:top"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Corporate bonds</span></td><td colspan="2" style="background-color:#dfd3e8;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">211,928 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,253)</span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">27 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">210,702 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">116,377 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">94,325 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">286,601 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,369)</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">28 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">285,260 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">190,935 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">94,325 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Level 3</span></td><td colspan="3" style="background-color:#dfd3e8;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 12.25pt;text-align:left;vertical-align:top"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Loans receivable - held for investment</span></td><td colspan="2" style="background-color:#ffffff;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">17,500 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">17,500 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,000 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">13,500 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:0 1pt"></td><td colspan="2" style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">17,500 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">17,500 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,000 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">13,500 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,224,275 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,731)</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">28 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,222,572 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,805,427 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">245,043 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">134,962 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Measured at NAV (2)</span></td><td colspan="3" style="background-color:#dfd3e8;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:3pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 12.25pt;text-align:left;vertical-align:top"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Third-party managed funds</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">15,430 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:0 1pt"></td><td colspan="3" style="background-color:#dfd3e8;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">245,043 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">150,392 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">December 31, 2025</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;border-top:3pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Level 1</span></td><td colspan="3" style="background-color:#dfd3e8;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 12.25pt;text-align:left;vertical-align:top"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Money market funds</span></td><td style="background-color:#ffffff;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">946,932 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">946,932 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">946,932 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 12.25pt;text-align:left;vertical-align:top"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">U.S. Government securities</span></td><td colspan="2" style="background-color:#dfd3e8;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">76,816 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">204 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">77,020 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">52,002 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25,018 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,023,748 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">204 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,023,952 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">946,932 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">52,002 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25,018 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Level 2</span></td><td colspan="3" style="background-color:#dfd3e8;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 12.25pt;text-align:left;vertical-align:top"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Certificate of deposit</span></td><td colspan="2" style="background-color:#ffffff;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20,913 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">30 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20,943 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">19,240 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,703 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 12.25pt;text-align:left;vertical-align:top"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Commercial paper</span></td><td colspan="2" style="background-color:#dfd3e8;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">32,409 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">26 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">32,435 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">32,435 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 12.25pt;text-align:left;vertical-align:top"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Corporate bonds</span></td><td colspan="2" style="background-color:#ffffff;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">199,920 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(12)</span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">549 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">200,457 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">118,411 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">82,046 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:0 1pt"></td><td colspan="2" style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">253,242 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(12)</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">605 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">253,835 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">170,086 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">83,749 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Level 3</span></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 12.25pt;text-align:left;vertical-align:top"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Loans receivable - held for investment</span></td><td colspan="2" style="background-color:#dfd3e8;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">13,000 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">13,000 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">13,000 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">13,000 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">13,000 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">13,000 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:0 1pt"></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,289,990 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(12)</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">809 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,290,787 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">946,932 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">222,088 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">121,767 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Measured at NAV (2)</span></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;border-top:3pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 12.25pt;text-align:left;vertical-align:top"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Third-party managed funds</span></td><td colspan="3" style="background-color:#dfd3e8;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,000 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12,609 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">224,088 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">134,376 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:6pt;padding-left:18pt;text-indent:-18pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1)</span><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:10.31pt">$37.1 million of money market funds were classified as funds receivable and seller accounts as of September 30, 2026</span><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">.</span></div><div style="margin-top:6pt;padding-left:18pt;text-indent:-18pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(2)</span><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:8.76pt">Third-party managed funds measured on the NAV basis have not been categorized in the fair value hierarchy. The amount presented in the table is intended to permit reconciliation of the short-term and long-term investments in the fair value hierarchy to the amount presented in the Consolidated Balance Sheets.</span></div> 1842567000 0 0 1842567000 1805427000 0 0 77607000 362000 0 77245000 0 50108000 27137000 1920174000 362000 0 1919812000 1805427000 50108000 27137000 11279000 11000 1000 11269000 0 11269000 0 63394000 105000 0 63289000 0 63289000 0 211928000 1253000 27000 210702000 0 116377000 94325000 286601000 1369000 28000 285260000 0 190935000 94325000 17500000 0 0 17500000 0 4000000 13500000 17500000 0 0 17500000 0 4000000 13500000 2224275000 1731000 28000 2222572000 1805427000 245043000 134962000 15430000 245043000 150392000 946932000 0 0 946932000 946932000 0 0 76816000 0 204000 77020000 0 52002000 25018000 1023748000 0 204000 1023952000 946932000 52002000 25018000 20913000 0 30000 20943000 0 19240000 1703000 32409000 0 26000 32435000 0 32435000 0 199920000 12000 549000 200457000 0 118411000 82046000 253242000 12000 605000 253835000 0 170086000 83749000 13000000 0 0 13000000 0 0 13000000 13000000 0 0 13000000 0 0 13000000 1289990000 12000 809000 1290787000 946932000 222088000 121767000 2000000 12609000 224088000 134376000 37100000 <div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The tables below show the fair value and gross unrealized loss related to available-for-sale debt securities, aggregated by investment category and the length of time that the securities have been in a continuous unrealized loss position as of the dates indicated (in thousands):</span></div><div style="margin-top:10pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.116%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.595%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:10.595%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:10.595%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:10.599%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="12" style="border-bottom:1pt solid #000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">As of September 30, 2026</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="border-top:1pt solid #000;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Less than 12 Months</span></div></td><td colspan="3" style="display:none"></td><td colspan="6" style="border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12 Months or Greater</span></div></td></tr><tr><td colspan="3" style="padding:1.5pt 1pt;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fair Value</span></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Gross Unrealized Holding Loss</span></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fair Value</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Gross Unrealized Holding Loss</span></div></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">U.S. Government securities</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">66,457 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(362)</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Certificate of deposit</span></td><td colspan="2" style="background-color:#ffffff;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8,597 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(11)</span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Commercial paper</span></td><td colspan="2" style="background-color:#dfd3e8;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">61,083 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(105)</span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Corporate bonds</span></td><td colspan="2" style="background-color:#ffffff;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">183,456 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,253)</span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total </span></div></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">319,593 </span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,731)</span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-left:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:10pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.116%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.595%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:10.595%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:10.595%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:10.599%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="12" style="border-bottom:1pt solid #000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">As of December 31, 2025</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="border-top:1pt solid #000;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Less than 12 Months</span></div></td><td colspan="3" style="display:none"></td><td colspan="6" style="border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12 Months or Greater</span></div></td></tr><tr><td colspan="3" style="padding:1.5pt 1pt;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fair Value</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Gross Unrealized Holding Loss</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fair Value</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Gross Unrealized Holding Loss</span></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Corporate bonds</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">17,577 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(12)</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">17,577 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(12)</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div> 66457000 362000 0 0 8597000 11000 0 0 61083000 105000 0 0 183456000 1253000 0 0 319593000 1731000 0 0 17577000 12000 0 0 17577000 12000 0 0 P37M P12M 700000000.0 0.0100 1000000000.0 0.0025 650000000.0 0.00125 649900000 0.00125 The following table presents the carrying value and estimated fair value of the Notes as of the dates indicated (in thousands):<div style="margin-top:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.116%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.595%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:10.595%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:10.595%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:10.599%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">As of September 30, 2026</span></td><td colspan="3" style="display:none"></td><td colspan="6" style="border-left:1pt solid #2e203c;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">As of December 31, 2025</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Carrying Value</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fair Value</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Carrying Value</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fair Value</span></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2025 Notes</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">691,591 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">776,160 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">689,890 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">709,800 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2021 Notes</span></td><td colspan="2" style="background-color:#ffffff;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">996,754 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">917,500 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">995,329 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">891,300 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2020 Notes</span></td><td colspan="2" style="background-color:#dfd3e8;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">648,906 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">620,750 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">648,011 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">608,595 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2019 Notes</span></td><td colspan="2" style="background-color:#ffffff;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">649,887 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">649,302 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">649,008 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">655,736 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:0 1pt"></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,987,138 </span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,963,712 </span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,982,238 </span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,865,431 </span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div> 691591000 776160000 689890000 709800000 996754000 917500000 995329000 891300000 648906000 620750000 648011000 608595000 649887000 649302000 649008000 655736000 2987138000 2963712000 2982238000 2865431000 <div style="margin-top:15pt"><span style="color:#2e203c;font-family:'ABC Otto',sans-serif;font-size:17pt;font-weight:700;line-height:120%">Note 10—Accrued Expenses</span></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Accrued expenses consisted of the following as of the dates indicated (in thousands):</span></div><div style="margin-top:14pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:67.613%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.543%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:14.544%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">As of September 30,<br/>2026</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-left:1pt solid #2e203c;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">As of December 31,<br/>2025</span></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Vendor accruals</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">103,217 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">129,336 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pass-through marketplace tax collection obligation </span></td><td colspan="2" style="background-color:#ffffff;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">94,493 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">125,883 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Employee compensation-related liabilities</span></td><td colspan="2" style="background-color:#dfd3e8;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">69,341 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">67,206 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Taxes payable</span></td><td colspan="2" style="background-color:#ffffff;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">21,173 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">19,775 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total accrued expenses</span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">288,224 </span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000000;border-left:1pt solid #2e203c;border-top:1pt solid #000000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">342,200 </span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div> <div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Accrued expenses consisted of the following as of the dates indicated (in thousands):</span></div><div style="margin-top:14pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:67.613%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.543%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:14.544%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">As of September 30,<br/>2026</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-left:1pt solid #2e203c;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">As of December 31,<br/>2025</span></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Vendor accruals</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">103,217 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">129,336 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pass-through marketplace tax collection obligation </span></td><td colspan="2" style="background-color:#ffffff;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">94,493 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">125,883 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Employee compensation-related liabilities</span></td><td colspan="2" style="background-color:#dfd3e8;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">69,341 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">67,206 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Taxes payable</span></td><td colspan="2" style="background-color:#ffffff;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">21,173 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">19,775 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total accrued expenses</span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">288,224 </span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000000;border-left:1pt solid #2e203c;border-top:1pt solid #000000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">342,200 </span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div> 103217000 129336000 94493000 125883000 69341000 67206000 21173000 19775000 288224000 342200000 <div style="margin-top:15pt"><span style="color:#2e203c;font-family:'ABC Otto',sans-serif;font-size:17pt;font-weight:700;line-height:120%">Note 11—Debt</span></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table presents the outstanding principal amount and carrying value of short- and long-term debt as of the dates indicated (in thousands):</span></div><div style="margin-top:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:40.420%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.595%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:10.595%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:10.595%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:10.595%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:10.600%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">As of September 30, 2026</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2025 Notes</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021 Notes</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020 Notes</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2019 Notes</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Principal</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">700,000 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,000,000 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">650,000 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">649,887 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,999,887 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Unamortized debt issuance costs</span></td><td colspan="2" style="background-color:#ffffff;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8,409 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,246 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,094 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12,749 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net carrying value</span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">691,591 </span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">996,754 </span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">648,906 </span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">649,887 </span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,987,138 </span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="margin-top:4pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:40.420%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.595%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:10.595%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:10.595%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:10.595%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:10.600%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">As of December 31, 2025</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2025 Notes</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021 Notes</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020 Notes</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2019 Notes</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Principal</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">700,000 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,000,000 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">650,000 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">649,887 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,999,887 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Unamortized debt issuance costs</span></td><td colspan="2" style="background-color:#ffffff;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10,110 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,671 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,989 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">879 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">17,649 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net carrying value</span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">689,890 </span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">995,329 </span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">648,011 </span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">649,008 </span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,982,238 </span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:15pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Terms of the Notes</span></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The terms of the Notes are summarized below:</span></div><div style="margin-top:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:15.566%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:15.566%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:15.566%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:15.566%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:15.566%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:15.570%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Convertible Notes</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-left:1pt solid #2e203c;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Maturity Date</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-left:1pt solid #2e203c;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Contractual Convertibility Date (1)</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-left:1pt solid #2e203c;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Initial Conversion Rate per $1,000 Principal (2)</span></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-left:1pt solid #2e203c;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Initial Conversion Price</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-left:1pt solid #2e203c;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Annual Effective Interest Rate</span></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2025 Notes</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">June 15, 2030</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">February 15, 2030</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11.6570 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">85.79 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.3 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2021 Notes</span></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">June 15, 2028</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">February 15, 2028</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.0518 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">246.80 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.4 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2020 Notes</span></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">September 1, 2027</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">May 1, 2027</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5.0007 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">199.97 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.3 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2019 Notes</span></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">October 1, 2026</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">June 1, 2026</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11.4040 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">87.69 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.3 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="margin-top:6pt;padding-left:18pt;text-indent:-18pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1)</span><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:10.31pt">The 2019 Notes became freely convertible at the option of holders on June 1, 2026 and remained so through the close of business on September 29, 2026, the second scheduled trading day immediately preceding their October 1, 2026 maturity date. None of the conditions permitting early conversion of the 2025 Notes, 2021 Notes, or 2020 Notes were met during the quarter ended September 30, 2026.</span></div><div style="margin-top:6pt;padding-left:18pt;text-indent:-18pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(2)</span><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:8.76pt">The initial conversion rate will be subject to adjustment upon the occurrence of certain specified events, including certain distributions and dividends to all or substantially all of the holders of the Company’s common stock.</span></div><div style="margin-top:9pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Based on the terms of each series of Notes, they will mature on the respective maturity date, unless earlier converted, redeemed, or repurchased. Additionally, the holders of each series of Notes may convert all or a portion of such series of Notes prior to the close of business on the business day immediately preceding the respective contractual convertibility date only under the following circumstances: (1) during any calendar quarter preceding the respective contractual convertibility date of each series of Notes, in which the closing price of the Company’s common stock for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the applicable conversion price for such series of Notes on each applicable trading day; (2) during the 5 business day period after any 10 consecutive trading day period (the “measurement period”) in which the trading price per $1,000 principal amount of such series of Notes for each trading day of the measurement period was less than 98% of the product of the closing price of the Company’s common stock and the conversion rate on each such trading day; (3) if the Company calls the 2025 Notes or 2021 Notes for redemption at any time prior to the close of business on the second scheduled trading day immediately preceding the redemption date, but only with respect to the Notes called (or deemed called) for redemption; or (4) upon the occurrence of specified corporate events. On and after the applicable contractual convertibility date until the close of business on the second scheduled trading day immediately preceding the maturity date, holders may convert their Notes at any time, regardless of the foregoing circumstances.</span></div><div style="margin-top:9pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company may redeem all or any portion of the 2025 Notes and 2021 Notes, at the Company’s option, subject to partial redemption limitations, on or after June 20, 2028 and June 20, 2025, respectively, if the last reported sale price of the Company’s common stock has been at least 130% of the applicable conversion price for such series of Notes then in effect for at least 20 trading days (whether or not consecutive), including the trading day immediately preceding the date on which the Company provides notice of redemption, during any 30 consecutive trading day period ending on, and including, the trading day immediately preceding the date on which the Company provides notice of redemption for such series of Notes at a redemption price equal to 100% of the principal amount of the 2025 Notes or 2021 Notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date.</span></div><div style="margin-top:9pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">If a fundamental change occurs prior to the maturity date for any series of Notes, holders of the applicable series of Notes may require the Company to repurchase all or a portion of their Notes for cash at a price equal to 100% of the principal amount of the Note to be repurchased. Holders of the Notes who convert their Notes in connection with a notice of a redemption or a make-whole fundamental change may be entitled to a premium in the form of an increase in the conversion rate of the applicable series of Notes.</span></div><div style="margin-top:9pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Based on the terms of each series of Notes, when a conversion notice is received, the Company has the option to pay by delivery of cash, shares of the Company’s common stock, or a combination thereof. Accordingly, the Company cannot be required to settle the 2025 Notes and 2021 Notes in cash and, therefore, the aforementioned notes are classified as long-term debt in the Consolidated Balance Sheets. The 2020 Notes maturity date is September 1, 2027 and therefore, are classified as short-term debt in the Consolidated Balance Sheet as of September 30, 2026. The 2019 Notes matured on October 1, 2026 and therefore, are classified as short-term debt in the Consolidated Balance Sheets as of September 30, 2026 and December 31, 2025. On October 1, 2026, the Company paid $10.8 million in cash and recorded $1.3 million to additional paid-in capital to settle conversion notices of $12.1 million aggregate principal amount of outstanding 2019 Notes and paid $637.8 million in cash to settle the remaining aggregate principal amount of its outstanding 2019 Notes. </span></div><div style="margin-top:9pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Seniority of the Notes</span></div><div style="margin-top:9pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Notes are general unsecured obligations of the Company. The Notes rank senior in right of payment to all of the Company’s future indebtedness that is expressly subordinated in right of payment to the Notes; rank equal in right of payment with all of the Company’s liabilities that are not so subordinated; are effectively junior to any of the Company’s secured indebtedness; and are structurally junior to all indebtedness and liabilities (including trade payables) of the Company’s subsidiaries.</span></div><div style="margin-top:9pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Interest Expense</span></div><div style="margin-top:9pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Interest expense related to each of the Notes consisted of coupon interest and amortization of debt issuance costs, and was $4.4 million for both the three months ended September 30, 2026 and 2025, and </span><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$13.2 million</span><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> and </span><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$9.0 million</span><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> for the nine months ended September 30, 2026 and 2025, respectively.</span></div><div style="margin-top:10pt;padding-left:13.5pt;text-indent:-13.5pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Fair Value of Notes</span></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The estimated fair value of each of the Notes was determined through inputs that are observable in the market, and are classified as Level 2. See “</span><span style="color:#2e203c;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Note 9—Fair Value Measurements</span><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">” for more information regarding the fair value of the Notes. </span></div><div style="margin-top:9pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Capped Call Transactions</span></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company used a portion of the net proceeds from each of the 2021, 2020, and 2019 Note offerings to enter into separate privately negotiated capped call instruments (the 2021, 2020, and 2019 capped call instruments collectively referred to as the “Capped Call Transactions”) with certain financial institutions, initial purchasers, and/or their respective affiliates. The Capped Call Transactions are expected generally to reduce the potential dilution and/or offset the cash payments the Company is required to make in excess of the principal amount of the 2021, 2020, and 2019 Notes upon conversion of the respective Notes in the event that the market price per share of the Company’s common stock is greater than the strike price of the Capped Call Transactions with such reduction and/or offset subject to a cap. Collectively, the Capped Call Transactions cover, initially, the number of shares of the Company’s common stock underlying the respective Notes, subject to anti-dilution adjustments substantially similar to those applicable to the respective Notes.</span></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The initial terms of the Company’s outstanding Capped Call Transactions are presented below:</span></div><div style="margin-top:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:95.760%"><tr><td style="width:1.0%"></td><td style="width:25.006%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:20.884%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.235%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:19.205%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.170%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Capped Call Transactions</span></td><td colspan="3" style="border-left:1pt solid #2e203c;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Expiration Date (1)</span></td><td colspan="3" style="border-left:1pt solid #2e203c;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Notes Maturity Date</span></td><td colspan="3" style="border-left:1pt solid #2e203c;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Initial Cap Price per Share</span></td><td colspan="3" style="border-left:1pt solid #2e203c;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Cap Price Premium</span></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2021 Capped Call Transactions</span></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">June 13, 2028</span></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">June 15, 2028</span></td><td style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">340.42 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2020 Capped Call Transactions</span></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">August 30, 2027</span></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">September 1, 2027</span></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">327.83</span></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">150 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2019 Capped Call Transactions</span></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">September 29, 2026</span></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">October 1, 2026</span></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">148.63</span></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">150 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="15" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1) The Capped Call Transactions Expiration Dates are determined based on the earlier of (i) the last day any convertible securities remain outstanding and (ii) the second scheduled trading day immediately preceding the Notes' Maturity Date. The dates included in the table above represent the second scheduled trading day immediately preceding the Notes’ Maturity Date. The 2019 Capped Call Transactions expired unexercised and no shares of the Company’s common stock or cash were delivered to the Company. </span></td></tr></table></div><div style="margin-top:5pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2023 Credit Agreement</span></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On March 24, 2023, the Company entered into a $400.0 million senior secured revolving credit facility pursuant to an Amended and Restated Credit Agreement (the “2023 Credit Agreement”) among the Company, as borrower, certain subsidiaries of the Company as guarantors, the lenders, and JPMorgan Chase Bank N.A., as administrative agent. The 2023 Credit Agreement has been subsequently amended, including by a First Amendment to the 2023 Credit Agreement dated June 2, 2025 and a Second Amendment to the 2023 Credit Agreement dated July 30, 2026 which, among other things, permitted the dispositions of the shares of Reverb and Depop, respectively, in conjunction with the sales of those businesses. The 2023 Credit Agreement will mature in March 2028 and includes a letter of credit sublimit of </span><span style="color:#2e203c;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$60.0 million</span><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> and a swingline loan sublimit of </span><span style="color:#2e203c;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$20.0 million</span><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">.</span></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Borrowings under the 2023 Credit Agreement (other than swingline loans) bear interest, at the Company’s option, at (i) a base rate equal to the highest of (a) the prime rate, (b) the federal funds rate plus 0.50%, and (c) an adjusted Term SOFR rate for a one-month interest period plus 1.00%, in each case plus a margin ranging from 0.50% to 1.25% or (ii) an adjusted Term SOFR rate plus a margin ranging from 1.50% to 2.25%. Swingline loans under the 2023 Credit Agreement bear interest at the same base rate (plus the margin applicable to borrowings bearing interest at the base rate). These margins are determined based on the senior secured net leverage ratio (defined as secured funded debt, net of unrestricted cash up to $100.0 million, to EBITDA (as defined in the 2023 Credit Agreement)) for the preceding four fiscal quarter periods. The Company is also obligated to pay other customary fees for a credit facility of this size and type, including an unused commitment fee, ranging from 0.20% to 0.35% depending on the Company’s senior secured net leverage ratio, and fees associated with letters of credit. The 2023 Credit Agreement also permits the Company, in certain circumstances, to request an increase in the facility by an amount of up to $200.0 million at the same maturity, pricing and other terms and to request an extension of the maturity date for the facility. In connection with the 2023 Credit Agreement, the Company also paid the lenders certain upfront fees.</span></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company had no outstanding borrowings under the 2023 Credit Agreement and was in compliance with all financial covenants as of </span><span style="color:#2e203c;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">September 30, 2026</span><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">.</span></div> <div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table presents the outstanding principal amount and carrying value of short- and long-term debt as of the dates indicated (in thousands):</span></div><div style="margin-top:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:40.420%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.595%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:10.595%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:10.595%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:10.595%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:10.600%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">As of September 30, 2026</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2025 Notes</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021 Notes</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020 Notes</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2019 Notes</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Principal</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">700,000 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,000,000 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">650,000 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">649,887 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,999,887 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Unamortized debt issuance costs</span></td><td colspan="2" style="background-color:#ffffff;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8,409 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,246 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,094 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12,749 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net carrying value</span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">691,591 </span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">996,754 </span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">648,906 </span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">649,887 </span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,987,138 </span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="margin-top:4pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:40.420%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.595%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:10.595%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:10.595%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:10.595%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:10.600%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">As of December 31, 2025</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2025 Notes</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021 Notes</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020 Notes</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2019 Notes</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Principal</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">700,000 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,000,000 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">650,000 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">649,887 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,999,887 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Unamortized debt issuance costs</span></td><td colspan="2" style="background-color:#ffffff;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10,110 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,671 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,989 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">879 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">17,649 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net carrying value</span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">689,890 </span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">995,329 </span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">648,011 </span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">649,008 </span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,982,238 </span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div> 700000000 1000000000 650000000 649887000 2999887000 8409000 3246000 1094000 0 12749000 691591000 996754000 648906000 649887000 2987138000 700000000 1000000000 650000000 649887000 2999887000 10110000 4671000 1989000 879000 17649000 689890000 995329000 648011000 649008000 2982238000 <div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The terms of the Notes are summarized below:</span></div><div style="margin-top:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:15.566%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:15.566%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:15.566%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:15.566%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:15.566%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:15.570%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Convertible Notes</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-left:1pt solid #2e203c;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Maturity Date</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-left:1pt solid #2e203c;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Contractual Convertibility Date (1)</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-left:1pt solid #2e203c;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Initial Conversion Rate per $1,000 Principal (2)</span></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-left:1pt solid #2e203c;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Initial Conversion Price</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-left:1pt solid #2e203c;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Annual Effective Interest Rate</span></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2025 Notes</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">June 15, 2030</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">February 15, 2030</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11.6570 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">85.79 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.3 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2021 Notes</span></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">June 15, 2028</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">February 15, 2028</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.0518 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">246.80 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.4 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2020 Notes</span></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">September 1, 2027</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">May 1, 2027</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5.0007 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">199.97 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.3 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2019 Notes</span></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">October 1, 2026</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">June 1, 2026</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11.4040 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">87.69 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.3 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="margin-top:6pt;padding-left:18pt;text-indent:-18pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1)</span><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:10.31pt">The 2019 Notes became freely convertible at the option of holders on June 1, 2026 and remained so through the close of business on September 29, 2026, the second scheduled trading day immediately preceding their October 1, 2026 maturity date. None of the conditions permitting early conversion of the 2025 Notes, 2021 Notes, or 2020 Notes were met during the quarter ended September 30, 2026.</span></div><div style="margin-top:6pt;padding-left:18pt;text-indent:-18pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(2)</span><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:8.76pt">The initial conversion rate will be subject to adjustment upon the occurrence of certain specified events, including certain distributions and dividends to all or substantially all of the holders of the Company’s common stock.</span></div> 85.79 0.013 246.80 0.004 199.97 0.003 87.69 0.003 20 30 1.30 5 10 0.98 1.30 20 30 1 1 10800000 1300000 12100000 637800000 4400000 4400000 13200000 9000000.0 <div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The initial terms of the Company’s outstanding Capped Call Transactions are presented below:</span></div><div style="margin-top:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:95.760%"><tr><td style="width:1.0%"></td><td style="width:25.006%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:20.884%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.235%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:19.205%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.170%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Capped Call Transactions</span></td><td colspan="3" style="border-left:1pt solid #2e203c;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Expiration Date (1)</span></td><td colspan="3" style="border-left:1pt solid #2e203c;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Notes Maturity Date</span></td><td colspan="3" style="border-left:1pt solid #2e203c;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Initial Cap Price per Share</span></td><td colspan="3" style="border-left:1pt solid #2e203c;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Cap Price Premium</span></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2021 Capped Call Transactions</span></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">June 13, 2028</span></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">June 15, 2028</span></td><td style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">340.42 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2020 Capped Call Transactions</span></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">August 30, 2027</span></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">September 1, 2027</span></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">327.83</span></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">150 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2019 Capped Call Transactions</span></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">September 29, 2026</span></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">October 1, 2026</span></td><td colspan="3" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">148.63</span></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">150 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="15" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1) The Capped Call Transactions Expiration Dates are determined based on the earlier of (i) the last day any convertible securities remain outstanding and (ii) the second scheduled trading day immediately preceding the Notes' Maturity Date. The dates included in the table above represent the second scheduled trading day immediately preceding the Notes’ Maturity Date. The 2019 Capped Call Transactions expired unexercised and no shares of the Company’s common stock or cash were delivered to the Company. </span></td></tr></table></div> 340.42 1 327.83 1.50 148.63 1.50 400000000.0 60000000.0 20000000.0 0.0050 0.0100 0.0050 0.0125 0.0150 0.0225 100000000.0 0.0020 0.0035 200000000.0 0 <div style="margin-top:15pt"><span style="color:#2e203c;font-family:'ABC Otto',sans-serif;font-size:17pt;font-weight:700;line-height:120%">Note 12—Commitments and Contingencies</span></div><div style="margin-top:15pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Purchase Obligations</span></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company’s purchase obligations primarily consist of the minimum, non-cancelable commitments as well as cancellation fees related to technology spending. During the nine months ended September 30, 2026, there were no material changes outside the ordinary course of business to the Company’s non-cancelable purchase obligations disclosed in the Company’s Annual Report.</span></div><div style="margin-top:15pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Legal Proceedings</span></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In the ordinary course of business, various claims and litigation are regularly asserted or commenced against the Company. Due to uncertainties inherent in litigation and other claims, the Company can give no assurance that it will prevail in any such matters and such claims or litigation could have a material adverse effect on the Company’s business, financial condition, results of operations, or cash flows. However, the Company currently believes that the final outcome of these matters will not have a material adverse effect.</span></div> <div style="margin-top:15pt"><span style="color:#2e203c;font-family:'ABC Otto',sans-serif;font-size:17pt;font-weight:700;line-height:120%">Note 13—Stockholders’ Deficit</span></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In June 2023, the Board of Directors (the “Board”) approved a stock repurchase program that authorized the Company to repurchase up to $1 billion of its common stock. The program was completed in the first quarter of 2025.</span></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In October 2024, the Board approved a stock repurchase program that authorizes the Company to repurchase up to </span><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$1 billion</span><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> of its common stock (the “October 2024 Stock Repurchase Program”). The program was completed in the second quarter of 2026.</span></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In December 2025, the Board approved a stock repurchase program that authorizes the Company to repurchase up to $750 million of its common stock (the “December 2025 Stock Repurchase Program”).</span></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In August 2026, the Audit Committee of the Board (the “Audit Committee”), acting pursuant to a delegation of authority from the Board, approved a stock repurchase program that authorizes the Company to repurchase up to an additional $2 billion of its common stock (the “August 2026 Stock Repurchase Program”).</span></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of September 30, 2026, the combined remaining amount available to be repurchased under the December 2025 and August 2026 Stock Repurchase Programs was </span><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$2.2 billion</span><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">.</span></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The stock repurchase programs have no expiration date and may be modified, suspended, or terminated at any time by the Board. The number of shares repurchased and the timing of repurchases will depend on a number of factors, including, but not limited to, stock price, trading volume, and general market conditions, along with the Company’s working capital requirements, general business conditions, and other factors.</span></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Under the stock repurchase programs, the Company may purchase shares of its common stock through various means, including open market transactions, privately negotiated transactions, tender offers, or any combination thereof. In addition, open market repurchases of common stock have been and could be made pursuant to trading plans established pursuant to Rule 10b5-1 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), which would permit common stock to be repurchased at a time that the Company might otherwise be precluded from doing so under insider trading laws or self-imposed trading restrictions.</span></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">During the three and nine months ended September 30, 2026, the Company repurchased approximately 5.2 million and 11.7 million shares, respectively, at an average price of $76.19 and $67.37 per share, respectively, excluding broker commissions and excise tax, under the October 2024 Stock Repurchase Program, December 2025 Stock Repurchase Program, and August 2026 Stock Repurchase Program.</span></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">All repurchased shares of common stock have been retired.</span></div> 1000000000 1000000000 750000000 2000000000 2200000000 5200000 11700000 76.19 67.37 <div style="margin-top:15pt"><span style="color:#2e203c;font-family:'ABC Otto',sans-serif;font-size:17pt;font-weight:700;line-height:120%">Note 14—Stock-Based Compensation</span></div><div style="margin-top:15pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2024 Equity Incentive Plan</span></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">During the three and nine months ended September 30, 2026, the Company granted restricted stock units (“RSUs”), including financial performance-based restricted stock units (“Financial PBRSUs”) and total shareholder return performance-based restricted stock units (“TSR PBRSUs”), and long-term cash awards (“LTC awards”) under its 2024 Equity Incentive Plan (“2024 Plan”). LTC awards are not included in the stock-based compensation awards disclosures below. In June 2026, the Company’s stockholders approved an amendment to increase the number of shares available for issuance under the 2024 Plan by 3,824,088 shares. At September 30, 2026, 23,104,150 shares were authorized under the 2024 Plan and 9,669,426 shares were available for future grant.</span></div><div style="margin-top:15pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2024 Inducement Plan</span></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Etsy, Inc. 2024 Inducement Plan (the “2024 Inducement Plan”) was terminated on March 6, 2026, and no further awards will be granted thereunder.</span></div><div style="margin-top:15pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Stock-Based Compensation Awards</span></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table summarizes the activity for the Company’s unvested RSUs under the 2024 Plan and the 2024 Inducement Plan, which includes Financial PBRSUs and TSR PBRSUs, and includes awards related to continuing and discontinued operations, during the nine months ended September 30, 2026 (in thousands, except per share amounts):</span></div><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:68.198%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.250%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:14.252%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Shares</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-left:1pt solid #2e203c;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Weighted-Average<br/>Grant Date Fair Value</span></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Unvested at December 31, 2025</span></td><td colspan="2" style="background-color:#dfd3e8;border-top:1pt solid #000000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,942 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">63.21 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 13pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Granted</span></td><td colspan="2" style="background-color:#ffffff;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,840 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">56.36 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 12.25pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Vested</span></td><td colspan="2" style="background-color:#dfd3e8;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,592)</span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">68.49 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 12.25pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Forfeited/Canceled</span></td><td colspan="2" style="background-color:#ffffff;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,378)</span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">59.32 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Unvested at September 30, 2026</span></td><td colspan="2" style="background-color:#dfd3e8;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,812 </span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">58.70 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The total unrecognized compensation expense at September 30, 2026 related to the Company’s unvested RSUs, including the Financial PBRSUs and TSR PBRSUs, was $312.9 million, which will be recognized over an estimated weighted-average amortization period of 2.11 years.</span></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Stock-based compensation expense included in continuing operations in the Consolidated Statements of Operations for the periods presented below is as follows (in thousands):</span></div><div style="margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.701%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.449%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:10.449%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:10.449%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:10.452%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:1.5pt 1pt;text-align:left;vertical-align:bottom"></td><td colspan="6" style="padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Three Months Ended <br/> September 30,</span></td><td colspan="3" style="display:none"></td><td colspan="6" style="border-left:1pt solid #000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Nine Months Ended <br/> September 30,</span></td></tr><tr><td colspan="3" style="padding:1.5pt 1pt;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-left:1pt solid #2e203c;border-top:1pt solid #000000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2025</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-left:1pt solid #000;border-top:1pt solid #000000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-left:1pt solid #000;border-top:1pt solid #000000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2025</span></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cost of revenue</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,970 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,962 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #000;border-top:1pt solid #000000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">14,532 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #000;border-top:1pt solid #000000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">19,623 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Marketing</span></td><td colspan="2" style="background-color:#ffffff;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,441 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,063 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10,911 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8,627 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Product development</span></td><td colspan="2" style="background-color:#dfd3e8;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">21,980 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">29,921 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">75,650 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">90,146 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">General and administrative</span></td><td colspan="2" style="background-color:#ffffff;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">16,314 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">15,179 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">48,759 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">45,828 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 7.75pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Stock-based compensation expense</span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">45,705 </span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000000;border-left:1pt solid #2e203c;border-top:1pt solid #000000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">55,125 </span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000000;border-left:1pt solid #000;border-top:1pt solid #000000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">149,852 </span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000000;border-left:1pt solid #000;border-top:1pt solid #000000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">164,224 </span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div> 3824088 23104150 9669426 <div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table summarizes the activity for the Company’s unvested RSUs under the 2024 Plan and the 2024 Inducement Plan, which includes Financial PBRSUs and TSR PBRSUs, and includes awards related to continuing and discontinued operations, during the nine months ended September 30, 2026 (in thousands, except per share amounts):</span></div><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:68.198%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.250%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:14.252%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Shares</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-left:1pt solid #2e203c;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Weighted-Average<br/>Grant Date Fair Value</span></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Unvested at December 31, 2025</span></td><td colspan="2" style="background-color:#dfd3e8;border-top:1pt solid #000000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,942 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">63.21 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 13pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Granted</span></td><td colspan="2" style="background-color:#ffffff;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,840 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">56.36 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 12.25pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Vested</span></td><td colspan="2" style="background-color:#dfd3e8;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,592)</span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">68.49 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 12.25pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Forfeited/Canceled</span></td><td colspan="2" style="background-color:#ffffff;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,378)</span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">59.32 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Unvested at September 30, 2026</span></td><td colspan="2" style="background-color:#dfd3e8;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,812 </span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">58.70 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div> 7942000 63.21 3840000 56.36 2592000 68.49 2378000 59.32 6812000 58.70 312900000 P2Y1M9D <div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Stock-based compensation expense included in continuing operations in the Consolidated Statements of Operations for the periods presented below is as follows (in thousands):</span></div><div style="margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.701%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.449%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:10.449%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:10.449%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:10.452%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:1.5pt 1pt;text-align:left;vertical-align:bottom"></td><td colspan="6" style="padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Three Months Ended <br/> September 30,</span></td><td colspan="3" style="display:none"></td><td colspan="6" style="border-left:1pt solid #000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Nine Months Ended <br/> September 30,</span></td></tr><tr><td colspan="3" style="padding:1.5pt 1pt;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-left:1pt solid #2e203c;border-top:1pt solid #000000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2025</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-left:1pt solid #000;border-top:1pt solid #000000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-left:1pt solid #000;border-top:1pt solid #000000;padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2025</span></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cost of revenue</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,970 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #2e203c;border-top:1pt solid #000000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,962 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #000;border-top:1pt solid #000000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">14,532 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-left:1pt solid #000;border-top:1pt solid #000000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">19,623 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Marketing</span></td><td colspan="2" style="background-color:#ffffff;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,441 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,063 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10,911 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8,627 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Product development</span></td><td colspan="2" style="background-color:#dfd3e8;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">21,980 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">29,921 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">75,650 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#dfd3e8;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">90,146 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">General and administrative</span></td><td colspan="2" style="background-color:#ffffff;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">16,314 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #2e203c;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">15,179 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">48,759 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">45,828 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 7.75pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Stock-based compensation expense</span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">45,705 </span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000000;border-left:1pt solid #2e203c;border-top:1pt solid #000000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">55,125 </span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000000;border-left:1pt solid #000;border-top:1pt solid #000000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">149,852 </span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000000;border-left:1pt solid #000;border-top:1pt solid #000000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">164,224 </span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div> 3970000 5962000 14532000 19623000 3441000 4063000 10911000 8627000 21980000 29921000 75650000 90146000 16314000 15179000 48759000 45828000 45705000 55125000 149852000 164224000 <div><span style="color:#2e203c;font-family:'ABC Otto',sans-serif;font-size:17pt;font-weight:700;line-height:120%">Note 15—Restructuring and Other Exit Costs</span></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On August 3, 2026, the Audit Committee, acting pursuant to a delegation of authority from the Board, approved a restructuring plan intended to better align the organization with Etsy’s long-term strategic priorities, including by simplifying Etsy’s structure to improve coordination and speed of decision-making (the “Restructuring Plan”). The Restructuring Plan included an approximately 12% reduction of the Etsy marketplace workforce, or approximately 220 employees.</span></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In connection with the Restructuring Plan, Etsy incurred approximately $33.9 million in charges in the third quarter of 2026, primarily consisting of severance payments, employee benefits, and related costs. As of the end of the third quarter of 2026, the execution of the Restructuring Plan was substantially complete.</span></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Total restructuring and other exit costs associated with the Restructuring Plan included in the Consolidated Statements of Operations for the periods presented are as follows (in thousands):</span></div><div style="margin-top:10pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:81.356%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.444%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Three and Nine Months Ended September 30, 2026</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cost of revenue</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,273 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Marketing</span></td><td colspan="2" style="background-color:#ffffff;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,126 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Product development</span></td><td colspan="2" style="background-color:#dfd3e8;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">22,623 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">General and administrative</span></td><td colspan="2" style="background-color:#ffffff;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,842 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total restructuring and other exit costs</span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">33,864 </span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table is a summary of the changes in the Company’s liability for severance, employee benefits, and related costs associated with the Restructuring Plan, included in accrued expenses in the Consolidated Balance Sheet (in thousands):</span></div><div style="margin-top:10pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:81.356%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.444%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Restructuring and Other Exit Costs</span></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Balance as of December 31, 2025</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Severance and employee-related benefits</span></td><td colspan="2" style="background-color:#ffffff;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">33,864 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cash payments</span></td><td colspan="2" style="background-color:#dfd3e8;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(27,349)</span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Balance as of September 30, 2026</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,515 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div>Payments related to the Restructuring Plan are included within net cash provided by operating activities of continuing operations within the Condensed Consolidated Statement of Cash Flows for the nine months ended September 30, 2026. 0.12 220 33900000 <div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Total restructuring and other exit costs associated with the Restructuring Plan included in the Consolidated Statements of Operations for the periods presented are as follows (in thousands):</span></div><div style="margin-top:10pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:81.356%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.444%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Three and Nine Months Ended September 30, 2026</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cost of revenue</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,273 </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Marketing</span></td><td colspan="2" style="background-color:#ffffff;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,126 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Product development</span></td><td colspan="2" style="background-color:#dfd3e8;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">22,623 </span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">General and administrative</span></td><td colspan="2" style="background-color:#ffffff;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,842 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total restructuring and other exit costs</span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">33,864 </span></td><td style="background-color:#dfd3e8;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="margin-top:10pt"><span style="color:#2e203c;font-family:'ABC Diatype',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table is a summary of the changes in the Company’s liability for severance, employee benefits, and related costs associated with the Restructuring Plan, included in accrued expenses in the Consolidated Balance Sheet (in thousands):</span></div><div style="margin-top:10pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:81.356%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.444%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Restructuring and Other Exit Costs</span></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Balance as of December 31, 2025</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dfd3e8;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Severance and employee-related benefits</span></td><td colspan="2" style="background-color:#ffffff;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">33,864 </span></td><td style="background-color:#ffffff;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dfd3e8;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cash payments</span></td><td colspan="2" style="background-color:#dfd3e8;padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(27,349)</span></td><td style="background-color:#dfd3e8;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Balance as of September 30, 2026</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'ABC Diatype',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,515 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div> 4273000 4273000 3126000 3126000 22623000 22623000 3842000 3842000 33864000 33864000 0 33864000 27349000 6515000 false false false On August 10, 2026, Lanny Baker, our Chief Financial Officer, adopted a trading plan intended to satisfy the affirmative defense of Rule 10b5-1(c) of the Exchange Act (a “10b5-1 Plan”) for the sale of an aggregate of up to 11,357 shares of Etsy common stock held by Mr. Baker. The plan terminates on the earlier of the date all the shares covered by the plan are sold and November 30, 2027. August 10, 2026 Lanny Baker Chief Financial Officer true 11357 November 30, 2027