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Redeemable Convertible Preferred Stock, Redeemable Common Stock, and Stockholders’ Equity (Deficit) (Tables)
 9 Months Ended
Sep. 30, 2025
Equity [Abstract]  
Schedule of temporary equity
As of December 31, 2024, the Company had five classes of redeemable convertible preferred stock, which consisted of the following (in thousands, except per share amounts):
Shares
Authorized		Shares
Issued and
Outstanding		Issuance
Price
Per Share		Carrying
Value		Aggregate
Liquidation
Preference
Series Seed60,00045,567$0.05 $2,039 $2,039 
Series A24,18219,3610.12 2,256 2,256 
Series B79,97979,9795.58 550,595 446,002 
Series B-112,48510,2050.40 4,091 4,091 
Series C29,52329,52338.95 1,163,130 1,163,671 
Total206,169184,635$1,722,111 $1,618,059 
Schedule of stock options activity
The following table summarizes stock option activity under the 2019 Plan (share data and aggregate intrinsic value in thousands):
Stock
Options
Outstanding		Weighted-Average
Exercise Price		Weighted-Average
Remaining
Contractual Term
(Years)		Aggregate
Intrinsic Value
Balance at January 1, 202547,219$1.74 7$2,163,455 
Granted—— 
Exercised(10,601)1.65 
Forfeited, expired, or canceled(294)7.41 
Outstanding at September 30, 2025 36,324$1.73 6$4,908,050 
Vested and expected to vest at September 30, 2025 36,324$1.73 6$4,908,050 
Exercisable at September 30, 2025 25,578$1.08 6$3,472,840 
Schedule of restricted stock unit activity
RSUs granted typically vest over four years. The following table summarizes restricted stock unit activity under the 2019 and 2025 Plans (share data in thousands):
SharesWeighted-
Average Fair
Value Per Share
Balance at January 1, 202515,455$38.80 
Granted15,26669.43 
Vested(4,361)36.30 
Forfeited, expired, or canceled(886)42.58 
Unvested balance at September 30, 2025 25,474$57.42 
Schedule of stock-based compensation expense
Total stock-based compensation expense recognized in the Company's condensed consolidated statements of operations was as follows (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
2025202420252024
Cost of revenue$3,533 $271 $8,927 $1,009 
Technology and infrastructure52,623 2,161 154,905 6,598 
Sales and marketing9,810 847 21,124 2,562 
General and administrative78,465 4,338 288,453 13,297 
Total stock-based compensation expense (1) (2)
$144,431 $7,617 $473,409 $23,466 
(1) Stock-based compensation expense was net of capitalized costs primarily related to the development of internal-use software of $12 million and $2 million during the three months ended September 30, 2025 and 2024, respectively, and $43 million and $6 million during the nine months ended September 30, 2025 and 2024, respectively.
(2) The Company recognized no and $177 million of stock-based compensation expense, net of no and $17 million of capitalized costs primarily related to the development of internal-use software, during the three and nine months ended September 30, 2025, respectively, associated with vested RSUs as a result of the satisfaction of the liquidity-event performance-based vesting condition which was satisfied in connection with the IPO.