Segment Information

12 Months Ended

Dec. 31, 2025

Segment Reporting [Abstract]

Segment Information

Note 17. Segment Information

The Chief Executive Officer, who functions as the chief operating decision maker (“CODM”), oversees the Company’s business activities at the consolidated level as a single operating and reportable segment. The factors used to identify the Company’s single operating segment include the organizational structure of the Company and the financial information available for evaluation by the CODM. The CODM uses consolidated net income (or loss) and operating margin to evaluate financial performance and make decisions regarding resource allocation, including setting target revenue growth and distributing the budget across cost of revenues, research and development, sales and marketing, and general and administrative expenses.

The following table presents selected financial information for the Company’s single operating segment for the years ended December 31, 2025, 2024 and 2023:

	Twelve Months Ended December 31,
	2025			2024			2023
Revenue	$	2,515,142		$	2,400,395		$	2,202,429
Less:
Share-based compensation expense	269,658			339,059			426,679
Depreciation and amortization	222,603			222,609			233,940
Other segment items (1)	1,902,330			1,836,057			1,740,621
Income (loss) from operations	120,551			2,670			(198,811)
Operating margin as % of revenue	4.8		%	0.1		%	(9.0)		%
Other (expense) income, net
Interest expense	(60,279)			(64,995)			(35,997)
Other (expense) income (2)	(4,035)			15,100			77,963
Other (expense) income, net	(64,314)			(49,895)			41,966
Income (loss) before income taxes	56,237			(47,225)			(156,845)
Provision for income taxes	12,846			11,063			8,395
Net income (loss)	$	43,391		$	(58,288)		$	(165,240)

(1)Other segment items mainly consist of personnel costs, third-party commissions, and advertising and marketing costs.

(2)Includes interest income of $2.7 million, $8.0 million and $12.5 million for the years ended December 31, 2025, 2024 and 2023, respectively.

See the consolidated financial statements for other financial information regarding the Company’s operating segment.

Refer to Note 2 - Revenue in this Annual Report on Form 10-K for information about revenue by geographic location.

Concentrations

Financial instruments that subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents and accounts receivable. Although the Company deposits its cash with multiple financial institutions, its deposits, at times, may exceed federally insured limits. The Company’s accounts receivable are primarily derived from sales by resellers and to direct customers. The Company maintains an allowance for doubtful accounts for estimated potential credit losses. As of December 31, 2025 and 2024 and 2023, and for the years then ended, none of the Company’s customers accounted for more than 10% of total accounts receivable, total revenues, or subscription revenues.

Long-lived assets by geographic location is based on the location of the legal entity that owns the asset. As of December 31, 2025 and 2024, approximately 87% and 90%, of the Company’s consolidated long-lived assets, respectively, were located in the U.S. No other single country outside of the U.S. represented more than 10% of the Company’s consolidated long-lived assets as of December 31, 2025 and 2024.