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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Operating activities    
Net income $ 139,785 $ 14,631
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 19,143 15,202
Share-based compensation 649,796 566,882
Deferred income taxes (36,278) (3,967)
Non-cash charitable contributions 13,495 0
Net amortization of investment premium and discount (13,636) (21,124)
Other 10,445 4,864
Changes in assets and liabilities:    
Accounts receivable 94,573 88,449
Prepaid expenses and other assets (4,970) (49,963)
Operating lease right-of-use assets 21,820 24,361
Accounts payable 7,611 9,933
Accrued expenses and other liabilities 17,508 89,616
Operating lease liabilities (26,241) (28,285)
Net cash provided by operating activities 893,051 710,599
Investing activities    
Purchases of property and equipment (21,530) (20,813)
Purchases of marketable securities (1,234,446) (1,196,557)
Sales of marketable securities 22,648 9,718
Maturities of marketable securities 1,065,121 954,844
Net cash used in investing activities (168,207) (252,808)
Financing activities    
Proceeds from exercise of stock options, net 8,053 20,266
Repurchases of Class A common stock (425,013) (500,000)
Shares repurchased for tax withholdings on release of restricted stock units and restricted stock awards (314,260) (305,519)
Net cash used in financing activities (731,220) (785,253)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 2,355 (668)
Net decrease in cash, cash equivalents and restricted cash (4,021) (328,130)
Cash, cash equivalents and restricted cash, beginning of period 1,141,221 1,368,532
Cash, cash equivalents and restricted cash, end of period 1,137,200 1,040,402
Supplemental cash flow information    
Cash paid for income taxes, net 17,098 18,660
Non-cash investing and financing activities:    
Repurchases of Class A common stock in accrued expenses and other current liabilities 2,000 0
Operating lease right-of-use assets obtained in exchange for operating lease liabilities $ 80,458 $ 21,744