XML 14 R4.htm IDEA: XBRL DOCUMENT v3.25.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Revenue:    
Revenue $ 5,771,796 $ 5,957,128
Cost of revenue:    
Amortization of acquired technology assets 14,674 18,027
Total cost of revenue 3,482,193 3,862,655
Gross profit 2,289,603 2,094,473
Operating expenses:    
Product development 760,699 720,574
Sales and marketing 504,460 443,885
General and administrative 491,797 471,260
Transaction, loan, and consumer receivable losses 169,689 165,729
Amortization of customer and other acquired intangible assets 33,656 43,282
Total operating expenses 1,960,301 1,844,730
Operating income 329,302 249,743
Interest expense (income), net 17,243 (18,745)
Remeasurement loss (gain) on bitcoin investment 93,351 (233,404)
Other income, net (8,342) (4,420)
Income before income tax 227,050 506,312
Provision for income taxes 38,328 35,492
Net income 188,722 470,820
Less: Net loss attributable to noncontrolling interests (1,150) (1,185)
Net income attributable to common stockholders $ 189,872 $ 472,005
Net income per share attributable to common stockholders:    
Basic (in USD per share) $ 0.31 $ 0.77
Diluted (in USD per share) $ 0.30 $ 0.74
Weighted-average shares used to compute net income per share attributable to common stockholders:    
Basic (in shares) 619,370 616,401
Diluted (in shares) 635,342 637,360
Transaction-based revenue    
Revenue:    
Revenue $ 1,550,731 $ 1,511,209
Cost of revenue:    
Cost of revenue 903,822 873,165
Subscription and services-based revenue    
Revenue:    
Revenue 1,890,973 1,682,294
Cost of revenue:    
Cost of revenue 275,048 269,668
Hardware revenue    
Revenue:    
Revenue 28,690 32,501
Cost of revenue:    
Cost of revenue 52,534 50,785
Bitcoin revenue    
Revenue:    
Revenue 2,301,402 2,731,124
Cost of revenue:    
Cost of revenue $ 2,236,115 $ 2,651,010