Shareholders' Equity (Tables)

9 Months Ended

Sep. 30, 2026

Schedule of the Stock Option and RSU Award Activities

The following table summarizes the stock option and Restricted Share Unit ("RSU") award activities under the Company's share-based compensation plans for the nine months ended September 30, 2026:


	Shares Subject to Options Outstanding					Outstanding RSUs
	Number of Options(1)	Weighted Average Exercise Price	Remaining Contractual Term (in years)	Aggregate Intrinsic Value(2)	Weighted Average Grant Date Fair Value	Outstanding RSUs	Weighted Average Grant Date Fair Value
	(in US $ millions, except share and share price amounts)
December 31, 2025	10,200,678	80.03	7.22	826	—	3,486,886	110.16
Stock options granted	3,055,469	115.96			53.60
Stock options exercised	(687,079)	35.09
Stock options forfeited	(747,307)	82.08
RSUs granted						4,306,245	120.47
RSUs settled						(2,937,355)	112.63
RSUs forfeited						(510,825)	105.96
September 30, 2026	11,821,761	91.80	7.27	304	—	4,344,951	119.20

Stock options exercisable as of September 30, 2026	5,369,082	79.69	5.81	216

(1) As of September 30, 2026, 11,815,800 of the outstanding stock options were granted under the Company's SOP and are exercisable for Class A subordinate voting shares and 5,961 of the outstanding stock options were granted under the Deliverr 2017 Stock Option and Grant Plan and are exercisable for Class A subordinate voting shares.

(2) The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying stock option awards and the closing market price of the Company's Class A subordinate voting shares as of September 30, 2026 and December 31, 2025.

Schedule of Classification of Stock-based Compensation

The following table illustrates the classification of stock-based compensation expense in the condensed consolidated statements of operations and comprehensive income, which includes both stock-based compensation and restricted stock-compensation expense:


	Three months ended September 30,		Nine months ended September 30,
	2026	2025	2026	2025
	(in US $ millions)
Cost of revenues	1	1	4	3
Sales and marketing	12	12	31	35
Research and development	99	73	282	232
General and administrative	28	21	83	64
	140	107	400	334

Summary of Repurchase Activity Under Stock Repurchase Program

The following table summarizes repurchase activity under our share repurchase program for the nine months ended September 30, 2026:


	Shares Repurchased(1)	Average Price per Share(2)		Value of Shares Repurchased(2)	Remaining Amount Authorized
	(in US $ millions, except share and share price amounts)
Balance, beginning of the period					$	—
Authorization of share repurchases in the first quarter of 2026					2,000
Authorization of additional share repurchases in the second quarter of 2026					3,000
Repurchase of shares of Class A subordinate voting shares	21,145,824	$	117.09	2,476	(2,476)
Balance, end of the period					$	2,524

(1) These repurchased shares of Class A subordinate voting shares were recognized within "Common stock".

(2) Excludes immaterial broker commissions and excise tax accruals.