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v3.26.1

Segment and Geographic Information (Tables) | 6 Months Ended
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Jun. 30, 2026
Segment Reporting [Abstract] |
Schedule of Segment Net Income | 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.

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- Definition Tabular disclosure of segment reporting. Includes, but is not limited to, reconciliation of reportable segment amount to corresponding consolidated total. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -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 2: http://www.xbrl.org/2009/role/commonPracticeRef -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 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef -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 6: http://www.xbrl.org/2009/role/commonPracticeRef -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 7: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26A Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef -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/2009/role/commonPracticeRef -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 + Details
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