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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income (loss) $ 33,834 $ (109,403) $ (1,015,441)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation and amortization 195,444 205,984 284,413
Non-cash reduction to the right-of-use asset 22,000 19,095 26,971
Net amortization of investment premium and discount (14,132) (22,940) (44)
Impairment of long-lived assets 1,849 0 320,504
Stock-based compensation 600,407 616,607 675,857
Amortization of deferred commissions 74,533 76,348 72,892
Realized and unrealized (gains) losses on equity securities (1,016) 1,681 8,043
Provision for doubtful accounts 8,230 35,393 51,859
Value of shares of Class A common stock issued and donated to charity 9,935 5,907 5,346
Share of losses from equity method investment 101,217 108,481 121,897
Impairment of equity method investment 80,629 0 0
Impairment of strategic investments 0 8,220 46,154
Loss on net assets divested 0 0 32,277
Other adjustments 4,182 5,009 14,669
Changes in operating assets and liabilities:      
Accounts receivable (55,067) (61,160) (85,093)
Prepaid expenses and other current assets 10,552 (153,470) (56,283)
Other long-term assets (122,203) (47,077) (2,328)
Accounts payable (14,973) (20,256) 12,370
Accrued expenses and other current liabilities 102,652 87,434 (51,816)
Deferred revenue and customer deposits 2,038 11,181 5,371
Operating lease liabilities (35,592) (48,759) (56,340)
Other long-term liabilities (1,275) (2,034) 3,474
Net cash provided by operating activities 1,003,244 716,241 414,752
CASH FLOWS FROM INVESTING ACTIVITIES:      
Acquisitions, net of cash acquired and payments related to prior period acquisitions (61,496) 0 (5,770)
Divestitures, net of cash divested 0 0 38,194
Purchases of marketable securities and other investments (1,050,858) (923,863) (1,953,003)
Proceeds from sales and maturities of marketable securities and other investments 1,251,119 2,353,486 2,200,417
Capitalized software development costs (51,969) (51,808) (39,925)
Purchases of long-lived and intangible assets (5,848) (6,978) (11,310)
Net cash provided by investing activities 80,948 1,370,837 228,603
CASH FLOWS FROM FINANCING ACTIVITIES:      
Principal payments on finance leases (5,306) (12,558) (16,134)
Value of equity awards withheld for tax liabilities (213) (2,000) (2,565)
Repurchases of shares of Class A common stock and related costs (868,939) (2,334,400) (668,751)
Proceeds from exercises of stock options and shares of Class A common stock issued under ESPP 41,363 37,386 43,840
Net cash used in financing activities (833,095) (2,311,572) (643,610)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 0 0 108
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 251,097 (224,494) (147)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH—Beginning of period 431,437 655,931 656,078
CASH, CASH EQUIVALENTS AND RESTRICTED CASH —End of period 682,534 431,437 655,931
Cash paid for income taxes, net 17,711 36,547 37,818
Cash paid for interest 37,578 37,904 38,389
RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH TO THE CONSOLIDATED BALANCE SHEETS      
Cash and cash equivalents 682,335 421,297 655,931
Restricted cash in other current assets 199 0 0
Restricted cash in other long-term assets 0 10,140 0
Total cash, cash equivalents and restricted cash $ 682,534 $ 431,437 $ 655,931