The following table sets forth unaudited quarterly statements of operations data for each of the eight quarters ended December 31, 2024 and 2023. In the opinion of management, this information has been prepared on the same basis as the audited consolidated financial statements and contains all adjustments, consisting only of normal recurring adjustments, considered necessary for a fair statement of the unaudited quarterly results for the periods presented. The quarterly data should be read in conjunction with the Company’s audited consolidated financial statements and the notes to the consolidated financial statements appearing elsewhere in this Form 10-K.


	Quarter Ended
	March 31,		June 30,		September 30,		December 31,
	(Amounts in thousands, except per share data)
2024
Revenue	$	637,524	$	699,264	$	708,655	$	713,424
Cost of sales (1)	191,201		210,948		217,170		220,831
Gross profit	446,323		488,316		491,485		492,593
Operating expenses:
Research and development (1)	110,869		121,145		101,487		97,709
Sales and marketing (1) (2)	217,780		211,552		220,264		244,529
General and administrative (1) (2)	219,652		177,524		193,539		191,110
Impairment of long-lived and indefinite-lived assets	4,446		8,152		18,698		838,164
Other operating income (loss)	(268)		3,800		3,100		2,568
Loss from operations	(106,692)		(26,257)		(39,403)		(876,351)
Other income (expense)	(1,730)		11,912		1,975		385
Income tax benefit (expense)	(1,806)		(1,463)		(808)		11,381
Net loss	$	(110,228)	$	(15,808)	$	(38,236)	$	(864,585)
Net loss per share—basic and diluted	$	(0.60)	$	(0.09)	$	(0.21)	$	(4.67)
Weighted average common shares outstanding—basic and diluted	182,350		184,313		184,795		185,312
2023
Revenue	$	602,450	$	622,093	$	628,338	$	646,885
Cost of sales (1)	177,584		177,709		189,307		192,964
Gross profit	424,866		444,384		439,031		453,921
Operating expenses:
Research and development (1)	95,680		104,356		111,707		115,184
Sales and marketing (1) (2)	212,015		201,028		198,172		216,590
General and administrative (1) (2)	194,193		215,377		194,330		196,388
Impairment of long-lived and indefinite-lived assets	69		552		—		—
Other operating income (loss)	—		—		72,027		6,400
Loss from operations	(77,091)		(76,929)		6,849		(67,841)
Other income (expense)	4,597		(2,990)		(5,806)		17,465
Income tax benefit (expense)	(1,657)		(1,107)		(249)		610
Net income (loss)	$	(74,151)	$	(81,026)	$	794	$	(49,766)
Net income (loss) per share—basic	$	(0.42)	$	(0.45)	$	0.00	$	(0.27)
Net income (loss) per share—diluted	$	(0.42)	$	(0.45)	$	0.00	$	(0.27)
Weighted average common shares outstanding—basic	178,574		180,204		180,649		181,114
Weighted average common shares outstanding—diluted	178,574		180,204		184,075		181,114

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(1) Amortization of acquired intangible assets, which was previously presented as a separate line item on the Company’s consolidated statements of operations, is now presented within the line item each intangible asset relates to within cost of sales, research and development, sales and marketing, and general and administrative expenses. Cost of sales is inclusive of amortization of acquired intangible assets of $21.1 million, $21.1 million, and $21.1 million for the quarters ended March 31, 2024, June 30, 2024, and September 30, 2024, respectively, and $20.7 million, $20.7 million, $20.8 million, and $21.1 million for the quarters ended March 31, 2023, June 30, 2023, September 30, 2023, and December 31, 2023, respectively. Amortization of acquired intangible assets included within research and development, sales and marketing, and general and administrative expenses were not significant for the quarterly periods presented.

(2) Certain general and administrative expenses have been reclassified to sales and marketing expenses related to customer care and customer experience. Sales and marketing expenses is inclusive of $23.5 million, $24.4 million, and $23.7 million for the quarters ended March 31, 2024, June 30, 2024, and September 30, 2024, respectively, which was previously included in general and administrative expenses. Sales and marketing expenses is inclusive of $23.1 million, $22.6 million, $23.1 million, and $24.2 million for the quarters ended March 31, 2023, June 30, 2023, September 30, 2023, and December 31, 2023, respectively, which was previously included in general and administrative expenses.