BALANCE SHEET COMPONENTS (Tables)

3 Months Ended

Mar. 31, 2026

Balance Sheet Related Disclosures [Abstract]

Schedule of Accounts Receivable, Net

Accounts receivable, net consisted of the following (in thousands):

	As of
	March 31, 2026		December 31, 2025
Accounts receivable, gross	$	809,738	$	960,319
Less: Allowances
Allowance for sales returns	2,916		4,539
Allowance for sales incentives	51,552		70,839
Allowance for credit losses	2,574		3,073
Other allowances	110		1,997
Total allowances	57,152		80,448
Accounts receivable, net	$	752,586	$	879,871

Schedule of Property and Equipment, Net

Property and equipment, net consisted of the following (in thousands):

	As of
	March 31, 2026		December 31, 2025
Computers and equipment	$	51,789	$	51,699
Leasehold improvements	287,166		284,748
Internal-use software	5,904		5,904
Office equipment and furniture	36,151		36,075
Property and equipment, gross	381,010		378,426
Less: Accumulated depreciation and amortization	(218,753)		(204,849)
Property and equipment, net	$	162,257	$	173,577

Schedule of Accrued Liabilities

Accrued liabilities consisted of the following (in thousands):

	As of
	March 31, 2026		December 31, 2025
Revenue share payable	$	319,682	$	311,488
Accrued cost of revenue	167,573		173,171
Marketing, retail, and merchandising expenses	79,773		95,887
Operating lease liability, current	88,412		87,425
Accrued legal and licensing expenses	32,609		68,843
Content liability, current	35,301		42,158
Contingent consideration, current	28,810		28,110
Other accrued expenses	159,039		150,901
Total Accrued liabilities	$	911,199	$	957,983

Schedule of Other Long Term Liabilities

Other Long-term liabilities consisted of the following (in thousands):

	As of
	March 31, 2026		December 31, 2025
Content liability, non-current	$	4,909	$	5,078
Contingent consideration, non-current	40,995		40,006
Other long-term liabilities	37,674		28,172
Total Other long-term liabilities	$	83,578	$	73,256