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Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Net revenue:        
Total net revenue $ 1,111,038 $ 968,179 $ 2,131,710 $ 1,849,648
Cost of revenue:        
Total cost of revenue 613,380 543,479 1,189,007 1,036,657
Gross profit (loss):        
Total gross profit 497,658 424,700 942,703 812,991
Operating expenses:        
Research and development 178,017 175,481 362,596 355,940
Sales and marketing 243,256 221,656 466,949 423,780
General and administrative 99,718 98,806 194,221 176,550
Total operating expenses 520,991 495,943 1,023,766 956,270
Loss from operations (23,333) (71,243) (81,063) (143,279)
Other income, net:        
Interest expense (460) 0 (893) 0
Other income, net 28,466 28,129 46,115 54,075
Total other income, net 28,006 28,129 45,222 54,075
Income (loss) before income taxes 4,673 (43,114) (35,841) (89,204)
Income tax benefit (5,830) (9,161) (18,913) (4,396)
Net income (loss) $ 10,503 $ (33,953) $ (16,928) $ (84,808)
Net income (loss) per share — basic (in dollars per share) $ 0.07 $ (0.24) $ (0.12) $ (0.59)
Net income (loss) per share — diluted (in dollars per share) $ 0.07 $ (0.24) $ (0.12) $ (0.59)
Weighted-average common shares outstanding — basic (in shares) 146,888 144,339 146,545 144,045
Weighted-average common shares outstanding — diluted (in shares) 149,675 144,339 146,545 144,045
Platform | Services        
Net revenue:        
Total net revenue $ 975,471 $ 824,333 $ 1,856,288 $ 1,579,268
Cost of revenue:        
Total cost of revenue 477,795 384,454 894,301 745,020
Gross profit (loss):        
Total gross profit 497,676 439,879 961,987 834,248
Devices | Goods        
Net revenue:        
Total net revenue 135,567 143,846 275,422 270,380
Cost of revenue:        
Total cost of revenue 135,585 159,025 294,706 291,637
Gross profit (loss):        
Total gross profit $ (18) $ (15,179) $ (19,284) $ (21,257)