v3.25.4
Segment and Geographic Information (Tables)
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Summary of Financial Information for Each Reportable Segment
Financial information for each reportable segment was as follows (in thousands, except percentages):
Years Ended December 31,
202520242023
Amount%Amount%Amount%
Contribution:
Government revenue$2,402,287 $1,569,605 $1,222,215 
Expenses attributable to government segment(826,217)(621,165)(497,245)
Government contribution1,576,070 66 %948,440 60 %724,970 59 %
Commercial revenue2,073,159 1,295,902 1,002,797 
Expenses attributable to commercial segment(706,532)(524,394)(482,212)
Commercial contribution1,366,627 66 %771,508 60 %520,585 52 %
Total contribution$2,942,697 66 %$1,719,948 60 %$1,245,555 56 %
Summary of Reconciliation of Segment Financial Information to Loss from Operations
The reconciliation of total contribution to income from operations is as follows (in thousands):
Years Ended December 31,
202520242023
Income from operations$1,414,015 $310,403 $119,966 
Research and development expenses (1)
420,838 342,813 306,560 
General and administrative expenses (1)
423,811 375,094 343,126 
Total stock-based compensation expense684,033 691,638 475,903 
Total contribution$2,942,697 $1,719,948 $1,245,555 
—————
(1) Excludes stock-based compensation expense.
Summary of Revenue by Geography
Revenue by geography is based on the customer’s headquarters or agency location at the time of sale. Revenue is as follows (in thousands, except percentages):
Years Ended December 31,
202520242023
Amount%Amount%Amount%
Revenue:
United States$3,320,043 74 %$1,900,247 66 %$1,378,247 62 %
United Kingdom427,398 10 %304,575 11 %235,257 11 %
Rest of world (1)
728,005 16 %660,685 23 %611,508 27 %
Total revenue$4,475,446 100 %$2,865,507 100 %$2,225,012 100 %
—————
(1) No other country represented 10% or more of total revenue for the years ended December 31, 2025, 2024, or 2023.
Summary of Property and Equipment, Net by Geography
Property and equipment, net is attributed to the Company’s office locations as follows (in thousands, except percentages):
As of December 31,
20252024
Amount%Amount%
Property and equipment, net:
United States$38,102 73 %$22,968 58 %
Japan7,063 14 %9,183 23 %
United Kingdom5,027 10 %5,634 14 %
Rest of world1,768 3 %1,853 5 %
Total property and equipment, net$51,960 100 %$39,638 100 %