Balance Sheet Components

3 Months Ended

Mar. 31, 2026

Organization, Consolidation and Presentation of Financial Statements [Abstract]

5. Balance Sheet Components

Accounts Receivable and Allowance for Credit Losses

Accounts receivable, net of allowance for credit losses consists of the following:


	March 31, 2026		December 31, 2025
	(In thousands)
Accounts receivable	$	295,691	$	358,728
Allowance for credit losses	(16,910)		(16,376)
Accounts receivable, net of allowance for credit losses	$	278,781	$	342,352

The allowance for credit losses consists of the following activity:


	Three Months Ended March 31, 2026		Year Ended December 31, 2025

Allowance for credit losses, beginning balance	$	16,376	$	5,922
Provision for credit losses, net of recoveries	4,959		14,287
Write-offs	(4,425)		(3,833)
Allowance for credit losses, ending balance	$	16,910	$	16,376

Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consists of the following:


	March 31, 2026		December 31, 2025
	(In thousands)
Prepaid taxes	$	29,156	$	30,290
Prepaid traffic acquisition costs	6,805		6,794
Prepaid software licenses	4,679		5,211
Other prepaid expenses and other current assets	7,940		7,052
Total prepaid expenses and other current assets	$	48,580	$	49,347

Property, Equipment and Capitalized Software, Net

Property, equipment and capitalized software, net consists of the following:


	March 31, 2026		December 31, 2025
	(In thousands)
Capitalized software development costs	$	110,399	$	104,877
Computer and equipment	69,795		69,670
Leasehold improvements	4,853		4,374
Software	3,634		3,560
Furniture and fixtures	1,677		1,643
Property, equipment, and capitalized software, gross	190,358		184,124
Less: accumulated depreciation and amortization	(137,268)		(133,126)
Total property, equipment and capitalized software, net	$	53,090	$	50,998

Accounts Payable

The Company’s accounts payable includes $176.5 million and $217.3 million of traffic acquisition costs as of March 31, 2026 and December 31, 2025, respectively.

Accrued and Other Current Liabilities

Accrued and other current liabilities consists of the following:


	March 31, 2026		December 31, 2025
	(In thousands)
Accrued agency commissions	$	64,761	$	69,446
Accrued tax liabilities	28,389		26,328
Operating lease obligations, current	9,030		9,108
Interest payable	7,952		23,663
Accrued professional fees	7,921		8,187
Other	12,889		15,978
Total accrued and other current liabilities	$	130,942	$	152,710