Financial Statements Details (Tables)
|
9 Months Ended |
Sep. 30, 2026 |
|---|
| Balance Sheet Components [Abstract] |
|
| Schedule of Inventories |
Inventories consist of the following (in millions): | | | | | | | | | | | | | | | | | September 30, 2026 | | December 31, 2025 | | Raw materials | | $ | 1,137.9 | | | $ | 611.2 | | Finished goods(1) | | 2,071.9 | | | 1,635.9 | | | Total inventories | | $ | 3,209.8 | | | $ | 2,247.1 | |
|
| Schedule of Prepaid Expenses and Other Current Assets |
Prepaid expenses and other current assets consist of the following (in millions): | | | | | | | | | | | | | | | | | September 30, 2026 | | December 31, 2025 | | | | | | Deferred cost of goods sold(1) | | $ | 1,586.2 | | | $ | 1,197.0 | | | Other prepaid expenses and deposits | | 649.5 | | | 313.0 | | | Total prepaid expenses and other current assets | | $ | 2,235.7 | | | $ | 1,510.0 | |
(1) The increase as of September 30, 2026 was driven by a corresponding increase in deferred product revenue.
|
| Schedule of Property and Equipment, Net |
Property and equipment, net consists of the following (in millions): | | | | | | | | | | | | | | | | | September 30, 2026 | | December 31, 2025 | | Land | | $ | 47.3 | | | $ | 47.3 | | | Equipment and machinery | | 230.1 | | | 188.3 | | | Computer hardware and software | | 67.4 | | | 66.2 | | Leasehold improvements | | 38.3 | | | 38.4 | | | Furniture and fixtures | | 3.8 | | | 3.7 | | | Construction-in-process | | 264.0 | | | 107.9 | | | Property and equipment, gross | | 650.9 | | | 451.8 | | | Less: accumulated depreciation | | (272.1) | | | (248.7) | | | Property and equipment, net | | $ | 378.8 | | | $ | 203.1 | |
|
| Schedule of Contract Assets, Contract Liabilities and Deferred Revenue |
The following table summarizes the activity related to our deferred revenue (in millions): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended September 30, | | Nine Months Ended September 30, | | | 2026 | | 2025 | | 2026 | | 2025 | Deferred revenue, beginning balance | | $ | 6,865.9 | | | $ | 4,061.7 | | | $ | 5,372.4 | | | $ | 2,791.4 | | | Less: Revenue recognized from beginning balance | | (1,715.0) | | | (699.7) | | | (3,137.7) | | | (1,094.5) | | | Add: Deferral of revenue in current period, excluding amounts recognized during the period | | 1,688.6 | | | 1,324.2 | | | 4,604.8 | | | 2,989.3 | | | Deferred revenue, ending balance | | $ | 6,839.5 | | | $ | 4,686.2 | | | $ | 6,839.5 | | | $ | 4,686.2 | |
|
| Schedule of Other Income (Expense), Net |
Other income (expense), net consists of the following (in millions): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended September 30, | | Nine Months Ended September 30, | | | 2026 | | 2025 | | 2026 | | 2025 | | Interest income | | $ | 137.3 | | | $ | 99.8 | | | $ | 368.9 | | | $ | 280.4 | | | | | | | | | | | | Other | | 135.8 | | | (0.9) | | | 144.1 | | | 8.7 | | | Total | | $ | 273.1 | | | $ | 98.9 | | | $ | 513.0 | | | $ | 289.1 | |
|