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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 953,569 $ 562,092
Marketable securities 1,523,242 1,278,717
Accounts receivable, net 590,162 349,534
Prepaid expenses and other current assets 69,012 33,058
Total current assets 3,135,985 2,223,401
Property and equipment, net 12,710 12,652
Operating lease right-of-use assets, net 20,788 23,249
Intangible assets, net 15,521 25,424
Goodwill 42,174 42,174
Other noncurrent assets 11,995 9,695
Total assets 3,239,173 2,336,595
Current liabilities:    
Accounts payable 62,929 45,423
Operating lease liabilities 7,023 6,137
Accrued expenses and other current liabilities 201,331 124,464
Total current liabilities 271,283 176,024
Operating lease liabilities, noncurrent 16,191 20,565
Other noncurrent liabilities 22,661 9,257
Total liabilities 310,135 205,846
Commitments and contingencies (Note 11)
Stockholders’ equity (deficit):    
Preferred stock, par value $0.0001 per share; 100,000,000 authorized as of December 31, 2025 and 2024; no shares issued and outstanding as of December 31, 2025 and 2024 0 0
Additional paid-in capital 3,595,772 3,331,546
Accumulated other comprehensive income (loss) 4,364 24
Accumulated deficit (671,117) (1,200,838)
Total stockholders’ equity (deficit) 2,929,038 2,130,749
Total liabilities and stockholders’ equity (deficit) 3,239,173 2,336,595
Class A    
Stockholders’ equity (deficit):    
Common stock 14 12
Class B    
Stockholders’ equity (deficit):    
Common stock 5 5
Class C    
Stockholders’ equity (deficit):    
Common stock $ 0 $ 0