v3.25.4

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions

12 Months Ended

Dec. 31, 2025

Dec. 31, 2024

Dec. 31, 2023

Income Statement [Abstract]

Revenue

$ 2,521.0

$ 2,548.2

$ 2,501.6

Cost of revenue

^[1],[2]

500.8

445.1

478.5

Gross profit

2,020.2

2,103.1

2,023.1

Operating expenses:

Research and development

^[1],[2]

732.0

914.9

936.5

Sales and marketing

^[1],[2]

369.9

460.7

466.0

General and administrative

^[1],[2]

230.5

241.2

237.1

Net (gain) loss on real estate assets

^[3]

(1.3)

0.1

(155.2)

Total operating expenses

^[1],[2]

1,331.1

1,616.9

1,484.4

Income from operations

689.1

486.2

538.7

Interest (expense) income, net

(78.6)

13.9

19.4

Other income (loss), net

7.1

9.7

(3.7)

Income before income taxes

617.6

509.8

554.4

Provision for income taxes

(109.2)

(57.5)

(100.8)

Net income

$ 508.4

$ 452.3

$ 453.6

Basic net income per share (in dollars per share)

$ 1.89

$ 1.42

$ 1.33

Diluted net income per share (in dollars per share)

$ 1.86

$ 1.40

$ 1.31

Weighted-average shares used in computing net income per share attributable to common stockholders, basic (in shares)

268.3

318.2

341.2

Weighted-average shares used in computing net income per share attributable to common stockholders, diluted (in shares)

272.8

323.4

345.6

[1]

Includes expenses related to the Company's reduction in workforce such as severance, benefits and other related items during the years ended December 31, 2025, 2024, and 2023. See Note 1, "Description of the Business and Summary of Significant Accounting Policies - Reduction in Workforce" for additional information.

[2]

Includes stock-based compensation as follows:


	Year Ended December 31,
		2025		2024		2023
Cost of revenue		$	20.6	$	22.9	$	23.3
Research and development		211.2		247.6		237.6
Sales and marketing		20.7		23.7		22.0
General and administrative		48.3		52.3		55.1
Total stock-based compensation		$	300.8	$	346.5	$	338.0

[3]

See Note 9, "Leases" for additional information.

- Definition

The aggregate costs related to goods produced and sold and services rendered by an entity during the reporting period. This excludes costs incurred during the reporting period related to financial services rendered and other revenue generating activities.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4A
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 220
-SubTopic 40
-Name Accounting Standards Codification
-Section 55
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476153/220-40-55-11

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 220
-SubTopic 40
-Name Accounting Standards Codification
-Section 55
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476153/220-40-55-4

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(2)(d))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(2)(a))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 924
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479941/924-10-S99-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 220
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476148/220-40-50-6

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