v3.25.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities      
Net loss $ (697,856) $ (1,322,485) $ (1,429,653)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:      
Depreciation and amortization 158,074 168,441 202,173
Stock-based compensation 1,041,023 1,324,004 1,387,787
Amortization of debt issuance costs 9,388 7,361 6,865
Losses (gains) on debt and equity securities, net 8,460 33,027 36,838
Other (14,153) (26,958) 15,596
Change in operating assets and liabilities, net of effect of acquisitions:      
Accounts receivable, net of allowance (94,005) (98,127) (119,780)
Prepaid expenses and other current assets (36,544) (9,920) (40,917)
Operating lease right-of-use assets 54,127 70,674 71,441
Other assets (9,952) 2,238 (504)
Accounts payable (100,728) 94,988 46,492
Accrued expenses and other current liabilities 150,391 62,130 71,706
Operating lease liabilities (62,663) (68,007) (68,886)
Other liabilities 7,918 9,155 5,456
Net cash provided by (used in) operating activities 413,480 246,521 184,614
Cash flows from investing activities      
Purchases of property and equipment (194,826) (211,727) (129,306)
Purchases of strategic investments (2,000) (7,770) (26,346)
Sales of strategic investments 1,755 7,559 63,276
Cash paid for acquisitions, net of cash acquired 0 (50,254) (67,067)
Purchases of marketable securities (2,287,668) (2,048,273) (3,485,638)
Sales of marketable securities 354,311 459,481 75,716
Maturities of marketable securities 1,411,444 2,424,717 2,525,215
Other (100) (2,779) (18,125)
Net cash provided by (used in) investing activities (717,084) 570,954 (1,062,275)
Cash flows from financing activities      
Proceeds from issuance of convertible notes, net of issuance costs 740,350 0 1,483,500
Purchase of capped calls (68,850) 0 (177,000)
Proceeds from termination of capped calls 62,683 0 0
Proceeds from the exercise of stock options 12,798 1,038 4,272
Payments of debt issuance costs 0 0 (3,006)
Repurchases of Class A non-voting common stock (311,069) (189,394) (1,001,052)
Deferred payments for acquisitions (3,695) (270,433) 0
Repurchases of convertible notes (859,042) 0 0
Other (1,799) 0 0
Net cash provided by (used in) financing activities (428,624) (458,789) 306,714
Change in cash, cash equivalents, and restricted cash (732,228) 358,686 (570,947)
Cash, cash equivalents, and restricted cash, beginning of period 1,782,462 1,423,776 1,994,723
Cash, cash equivalents, and restricted cash, end of period 1,050,234 1,782,462 1,423,776
Supplemental disclosures      
Cash paid for income taxes, net 24,686 30,924 12,087
Cash paid for interest $ 10,284 $ 10,244 $ 8,873