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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets    
Cash and cash equivalents $ 1,137,942 $ 1,132,009
Short-term investments 656,573 705,172
Prepaid expenses and other current assets 1,064,898 1,082,334
Total current assets 2,859,413 2,919,515
Restricted cash and cash equivalents 758,988 705,361
Restricted investments 1,305,672 1,230,758
Investments 44,506 47,066
Property and equipment, net 430,318 418,530
Operating lease right-of-use assets 163,885 165,579
Intangible assets, net 164,570 178,944
Goodwill 477,082 439,754
Deferred tax assets 2,880,645 2,906,135
Other assets 22,407 18,411
Total assets 9,107,486 9,030,053
Current liabilities    
Accounts payable 115,641 120,464
Insurance reserves 2,307,657 2,180,426
Accrued and other current liabilities 2,428,912 2,196,863
Operating lease liabilities, current 28,261 28,068
Total current liabilities 4,880,471 4,525,821
Operating lease liabilities 156,279 159,904
Long-term debt, net of current portion 990,560 1,002,404
Other liabilities 56,530 68,401
Total liabilities 6,083,840 5,756,530
Commitments and contingencies (Note 10)
Stockholders’ equity    
Preferred stock, $0.00001 par value; 1,000,000 shares authorized as of June 30, 2026 and December 31, 2025; no shares issued and outstanding as of June 30, 2026 and December 31, 2025 0 0
Common stock, $0.00001 par value; 18,000,000 Class A shares authorized as of June 30, 2026 and December 31, 2025; 379,170 and 400,856 Class A shares issued and outstanding, as of June 30, 2026 and December 31, 2025, respectively; no Class B shares authorized as of June 30, 2026 and 87,220 Class B shares authorized as of December 31, 2025; no Class B shares issued and outstanding as of June 30, 2026 and December 31, 2025 4 4
Additional paid-in capital 10,388,610 10,687,017
Accumulated other comprehensive (loss) income (15,389) 625
Accumulated deficit (7,349,579) (7,414,123)
Total stockholders’ equity 3,023,646 3,273,523
Total liabilities and stockholders’ equity $ 9,107,486 $ 9,030,053