XML 12 R2.htm IDEA: XBRL DOCUMENT v3.25.2
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 426,004 $ 483,220
Accounts receivable, net 1,303,042 1,200,046
Prepaid expenses and other current assets 27,474 19,914
TOTAL CURRENT ASSETS 1,756,520 1,703,180
Property and equipment, net 89,505 68,730
Right-of-use lease assets 58,429 50,329
Internal use software development costs, net 27,268 26,625
Intangible assets, net 11,036 21,309
Goodwill 978,217 978,217
Other assets, non-current 6,172 6,378
TOTAL ASSETS 2,927,147 2,854,768
Current liabilities:    
Accounts payable and accrued expenses 1,530,389 1,466,377
Lease liabilities, current 19,388 16,086
Debt, current, net of debt issuance costs 207,862 3,641
Other current liabilities 7,316 9,880
TOTAL CURRENT LIABILITIES 1,764,955 1,495,984
Debt, non-current, net of debt discount and issuance costs 348,556 550,104
Lease liabilities, non-current 43,401 38,983
Other liabilities, non-current 1,768 1,479
TOTAL LIABILITIES 2,158,680 2,086,550
Commitments and contingencies (Note 10)
STOCKHOLDERS' EQUITY    
Preferred stock, $0.00001 par value, 10,000 shares authorized at June 30, 2025 and December 31, 2024; 0 shares issued and outstanding at June 30, 2025 and December 31, 2024 0 0
Common stock, $0.00001 par value; 500,000 shares authorized at June 30, 2025 and December 31, 2024; 142,383 and 141,427 shares issued and outstanding at June 30, 2025 and December 31, 2024 2 2
Additional paid-in capital 1,429,206 1,433,809
Accumulated other comprehensive loss (1,074) (4,421)
Accumulated deficit (659,667) (661,172)
TOTAL STOCKHOLDERS' EQUITY 768,467 768,218
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 2,927,147 $ 2,854,768