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Segment and Geographic Information
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Segment and Geographic Information
18. Segment and Geographic Information
Segment Information
We have one reportable segment as our chief operating decision maker reviews consolidated profitability measures in managing the business. Specifically, our chief operating decision maker uses consolidated net income (loss) as the measure of segment profit or loss for evaluating performance and allocating resources through comparison of actual amounts against budgeted and prior period amounts.
The following table presents the calculation of segment net income (loss):
Year ended December 31,
202420232022
(in thousands)
Revenue$1,300,205 $804,029 $666,701 
Adjusted cost of revenue(1)
122,975 110,758 103,952 
Adjusted gross profit1,177,230 693,271 562,749 
Adjusted operating expenses(2)
879,223 762,546 671,143 
Stock-based compensation and related taxes842,932 49,086 55,768 
Depreciation and amortization15,643 13,702 8,000 
Interest (income) expense, net(78,121)(53,281)(15,681)
Income tax expense (benefit)(931)3,801 622 
Other segment expenses(3)
2,760 8,241 1,447 
Segment net income (loss)$(484,276)$(90,824)$(158,550)
Consolidated net income (loss)$(484,276)$(90,824)$(158,550)
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(1)Adjusted cost of revenue is cost of revenue adjusted for stock-based compensation and related taxes and depreciation and amortization as follows:
Year ended December 31,
202420232022
(in thousands)
Cost of revenue$123,595 $111,011 $104,799 
Less:
Stock-based compensation and related taxes620 101 133 
Depreciation and amortization— 152 714 
Adjusted cost of revenue$122,975 $110,758 $103,952 
(2)Adjusted operating expenses is operating expenses (comprised of research and development, sales and marketing, and general and administrative expenses) adjusted for stock-based compensation and related taxes, depreciation and amortization, and restructuring costs as follows:
Year ended December 31,
202420232022
(in thousands)
Operating expenses$1,737,178 $833,179 $734,064 
Less:
Stock-based compensation and related taxes842,312 48,985 55,635 
Depreciation and amortization15,643 13,550 7,286 
Restructuring costs— 8,098 — 
Adjusted operating expenses$879,223 $762,546 $671,143 
(3)Other segment expenses primarily includes restructuring costs, realized gains and losses on sales of marketable securities, and foreign currency transaction gains and losses.

Geographic Information
As of December 31, 2024 and 2023, substantially all of our long-lived assets were located within the United States.