XML 42 R22.htm IDEA: XBRL DOCUMENT v3.25.1
Segment and Geographic Information
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Segment and Geographic Information
15. 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):
Three months ended March 31,
20252024
(in thousands)
Revenue$392,361 $242,963 
Adjusted cost of revenue(1)
36,872 27,358 
Adjusted gross profit355,489 215,605 
Adjusted operating expenses(2)
240,218 205,580 
Stock-based compensation and related taxes107,405 595,537 
Depreciation and amortization3,963 3,743 
Interest (income) expense, net(20,414)(15,447)
Income tax expense (benefit)(1,721)365 
Other segment expenses(3)
(120)893 
Segment net income (loss)$26,158 $(575,066)
Consolidated net income (loss)$26,158 $(575,066)
________________
(1)Adjusted cost of revenue is cost of revenue adjusted for stock-based compensation and related taxes as follows:
Three months ended March 31,
20252024
(in thousands)
Cost of revenue$37,089 $27,616 
Less:
Stock-based compensation and related taxes217 258 
Adjusted cost of revenue$36,872 $27,358 
(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 and depreciation and amortization as follows:
Three months ended March 31,
20252024
(in thousands)
Operating expenses$351,369 $804,602 
Less:
Stock-based compensation and related taxes107,188 595,279 
Depreciation and amortization3,963 3,743 
Adjusted operating expenses$240,218 $205,580 
(3)Other segment expenses primarily includes realized gains and losses on sales of marketable securities and foreign currency transaction gains and losses.