v3.25.2
Segment and Geographic Information (Tables)
 6 Months Ended
Jun. 30, 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):
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
Amount%Amount%Amount%Amount%
Contribution:
Government revenue$552,983 $370,767 $1,039,946 $706,140 
Expenses attributable to government segment(202,571)(139,373)(388,574)(275,358)
Government contribution350,412 63 %231,394 62 %651,372 63 %430,782 61 %
Commercial revenue450,714 307,367 847,606 606,332 
Expenses attributable to commercial segment(163,138)(125,282)(318,885)(246,158)
Commercial contribution287,576 64 %182,085 59 %528,721 62 %360,174 59 %
Total contribution$637,988 64 %$413,479 61 %$1,180,093 63 %$790,956 60 %
Summary of Reconciliation of Segment Financial Information to Loss from Operations
The reconciliation of contribution to income from operations is as follows (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
Income from operations$269,317 $105,339 $445,365 $186,220 
Research and development expenses (1)
102,975 78,838 206,030 162,004 
General and administrative expenses (1)
105,725 87,538 213,388 175,317 
Total stock-based compensation expense159,971 141,764 315,310 267,415 
Total contribution$637,988 $413,479 $1,180,093 $790,956 
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(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):
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
Amount%Amount%Amount%Amount%
Revenue:
United States$732,592 73 %$437,189 64 %$1,361,086 72 %$843,578 64 %
United Kingdom97,172 10 %76,991 11 %186,826 10 %140,192 11 %
Rest of world (1)
173,933 17 %163,954 25 %339,640 18 %328,702 25 %
Total revenue$1,003,697 100 %$678,134 100 %$1,887,552 100 %$1,312,472 100 %
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(1)No other country represented 10% or more of total revenue for the three and six months ended June 30, 2025 or 2024.