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UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Current assets    
Cash and cash equivalents $ 976,231 $ 785,791
Short-term investments 121,652 91,854
Accounts receivable 112,919 128,923
Deferred cost of revenues 93,794 80,162
Prepaid expenses and other current assets 19,394 14,858
Total current assets 1,323,990 1,101,588
Operating lease right-of-use assets 80,987 47,495
Long-term investments 75,362 98,292
Intangible assets, net 19,924 19,899
Property and equipment, net 19,685 18,943
Goodwill 10,538 10,538
Restricted cash 2,735 2,735
Deferred tax assets, net 675 675
Other assets 8,663 1,563
Total assets 1,542,559 1,301,728
Current liabilities    
Deferred revenues 431,177 372,884
Accounts payable 7,729 6,381
Income tax payable 24 6,591
Accrued expenses and other current liabilities 32,453 36,375
Total current liabilities 471,383 422,231
Long-term obligation under operating leases 93,843 54,656
Deferred tax liabilities, net 302 291
Total liabilities 565,528 477,178
Commitments and contingencies (Note 10)
Stockholders’ equity    
Class A common stock, $0.0001 par value; 2,000,000 shares authorized as of June 30, 2025 and December 31, 2024; 39,660 and 38,730 issued and outstanding at June 30, 2025 and December 31, 2024, respectively Class B common stock, $0.0001 par value; 30,000 shares authorized as of June 30, 2025 and December 31, 2024; 6,127 and 6,206 issued and outstanding at June 30, 2025 and December 31, 2024, respectively 4 4
Additional paid-in capital 1,022,958 950,393
Accumulated deficit (45,931) (125,847)
Total stockholders’ equity 977,031 824,550
Total liabilities and stockholders' equity $ 1,542,559 $ 1,301,728