XML 41 R21.htm IDEA: XBRL DOCUMENT
v3.26.1

Segment and Geographic Information | 6 Months Ended
--- | ---
Jun. 30, 2026
Segment Reporting [Abstract] |
Segment and Geographic Information | 14. Segment and Geographic Information Segment Information We have one reportable segment as our chief operating decision maker, our Chief Executive Officer, reviews consolidated profitability measures in managing the business. Specifically, our chief operating decision maker uses consolidated net income as the measure of segment profit or loss for evaluating performance and allocating resources through comparison of actual amounts against budgeted and prior period amounts in order to make strategic decisions. The following table presents the calculation of segment net income:
| Three months ended June 30, |  | Six months ended June 30,
| 2026 |  | 2025 |  | 2026 |  | 2025 |  |
| (in thousands)
Revenue | $ | 804,905 |  |  | $ | 499,627 |  |  | $ | 1,468,316 |  |  | $ | 891,988 |  |  |
Adjusted cost of revenue(1) | 70,055 |  |  | 45,696 |  |  | 126,177 |  |  | 82,568 |  |  |
Adjusted gross profit | 734,850 |  |  | 453,931 |  |  | 1,342,139 |  |  | 809,420 |  |  |
Adjusted operating expenses(2) | 392,040 |  |  | 287,182 |  |  | 733,359 |  |  | 527,400 |  |  |
Stock-based compensation and related taxes | 106,836 |  |  | 95,104 |  |  | 185,684 |  |  | 202,509 |  |  |
Depreciation and amortization | 4,258 |  |  | 3,934 |  |  | 8,468 |  |  | 7,897 |  |  |
Interest (income) expense, net | (25,027) |  |  | (21,056) |  |  | (48,912) |  |  | (41,470) |  |  |
Income tax expense (benefit) | 3,987 |  |  | (439) |  |  | 5,734 |  |  | (2,160) |  |  |
Other segment expenses(3) | (92) |  |  | (91) |  |  | 977 |  |  | (211) |  |  |
Segment net income | $ | 252,848 |  |  | $ | 89,297 |  |  | $ | 456,829 |  |  | $ | 115,455 |  |  |
Consolidated net income | $ | 252,848 |  |  | $ | 89,297 |  |  | $ | 456,829 |  |  | $ | 115,455 |  |  |
________________ (1)Adjusted cost of revenue is cost of revenue adjusted for stock-based compensation and related taxes as follows:
| Three months ended June 30, |  | Six months ended June 30,
| 2026 |  | 2025 |  | 2026 |  | 2025 |  |
| (in thousands)
Cost of revenue | $ | 70,308 |  |  | $ | 45,900 |  |  | $ | 126,575 |  |  | $ | 82,989 |  |  |
Less: |  |  |  |  |  |  |  |  |
Stock-based compensation and related taxes | 253 |  |  | 204 |  |  | 398 |  |  | 421 |  |  |
Adjusted cost of revenue | $ | 70,055 |  |  | $ | 45,696 |  |  | $ | 126,177 |  |  | $ | 82,568 |  |  |
(2)Adjusted operating expenses is operating expenses (comprised of research and development, sales and marketing, and general and administrative expenses) adjusted for stock-based compensation and related taxes and depreciation and amortization as follows:
| Three months ended June 30, |  | Six months ended June 30,
| 2026 |  | 2025 |  | 2026 |  | 2025 |  |
| (in thousands)
Operating expenses | $ | 502,881 |  |  | $ | 386,016 |  |  | $ | 927,113 |  |  | $ | 737,385 |  |  |
Less: |  |  |  |  |  |  |  |  |
Stock-based compensation and related taxes | 106,583 |  |  | 94,900 |  |  | 185,286 |  |  | 202,088 |  |  |
Depreciation and amortization | 4,258 |  |  | 3,934 |  |  | 8,468 |  |  | 7,897 |  |  |
Adjusted operating expenses | $ | 392,040 |  |  | $ | 287,182 |  |  | $ | 733,359 |  |  | $ | 527,400 |  |  |
(3)Other segment expenses primarily includes realized gains and losses on sales of marketable securities and foreign currency transaction gains and losses.

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for segment reporting. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-40 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-42 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-34 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (ee) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26C -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26C Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26B -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26B Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-15 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 15: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Topic 270 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482964/270-10-50-1 Reference 17: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 18: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 19: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 20: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 21: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 22: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 23: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/280/tableOfContent Reference 24: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration