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Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 1,374,348 $ 953,569
Marketable securities 1,396,284 1,523,242
Accounts receivable, net 522,905 590,162
Prepaid expenses and other current assets 92,397 69,012
Total current assets 3,385,934 3,135,985
Property and equipment, net 11,866 12,710
Operating lease right-of-use assets, net 19,001 20,788
Intangible assets, net 13,043 15,521
Goodwill 42,174 42,174
Other noncurrent assets 12,265 11,995
Total assets 3,484,283 3,239,173
Current liabilities:    
Accounts payable 51,743 62,929
Operating lease liabilities 7,170 7,023
Accrued expenses and other current liabilities 206,970 201,331
Total current liabilities 265,883 271,283
Operating lease liabilities, noncurrent 14,118 16,191
Other noncurrent liabilities 24,566 22,661
Total liabilities 304,567 310,135
Commitments and contingencies (Note 9)
Stockholders’ equity:    
Preferred stock, par value $0.0001 per share; 100,000,000 shares authorized as of March 31, 2026 and December 31, 2025; no shares issued and outstanding as of March 31, 2026 and December 31, 2025 0 0
Additional paid-in capital 3,647,812 3,595,772
Accumulated other comprehensive income (loss) (979) 4,364
Accumulated deficit (467,136) (671,117)
Total stockholders’ equity 3,179,716 2,929,038
Total liabilities and stockholders’ equity 3,484,283 3,239,173
Class A common stock    
Stockholders’ equity:    
Common stock, value 14 14
Class B common stock    
Stockholders’ equity:    
Common stock, value 5 5
Class C common stock    
Stockholders’ equity:    
Common stock, value $ 0 $ 0