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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Net revenue:        
Total net revenue $ 1,210,638 $ 1,062,203 $ 3,342,348 $ 2,911,851
Cost of revenue:        
Total cost of revenue 685,739 582,128 1,874,746 1,618,785
Gross profit (loss):        
Total gross profit 524,899 480,075 1,467,602 1,293,066
Operating expenses:        
Research and development 182,235 178,798 544,831 534,738
Sales and marketing 242,077 237,047 709,026 660,827
General and administrative 91,121 99,993 285,342 276,543
Total operating expenses 515,433 515,838 1,539,199 1,472,108
Income (loss) from operations 9,466 (35,763) (71,597) (179,042)
Other income, net:        
Interest expense (455) 0 (1,348) 0
Other income, net 29,019 30,880 75,134 84,955
Total other income, net 28,564 30,880 73,786 84,955
Income (loss) before income taxes 38,030 (4,883) 2,189 (94,087)
Income tax expense (benefit) 13,218 4,147 (5,695) (249)
Net income (loss) $ 24,812 $ (9,030) $ 7,884 $ (93,838)
Net income (loss) per share — basic (in dollars per share) $ 0.17 $ (0.06) $ 0.05 $ (0.65)
Net income (loss) per share — diluted (in dollars per share) $ 0.16 $ (0.06) $ 0.05 $ (0.65)
Weighted-average common shares outstanding — basic (in shares) 147,466 144,862 146,855 144,319
Weighted-average common shares outstanding — diluted (in shares) 151,580 144,862 150,449 144,319
Platform | Services        
Net revenue:        
Total net revenue $ 1,064,644 $ 908,175 $ 2,920,932 $ 2,487,443
Cost of revenue:        
Total cost of revenue 516,869 416,396 1,411,170 1,161,416
Gross profit (loss):        
Total gross profit 547,775 491,779 1,509,762 1,326,027
Devices | Goods        
Net revenue:        
Total net revenue 145,994 154,028 421,416 424,408
Cost of revenue:        
Total cost of revenue 168,870 165,732 463,576 457,369
Gross profit (loss):        
Total gross profit $ (22,876) $ (11,704) $ (42,160) $ (32,961)