v3.25.2
Condensed Consolidated Statements of Changes In Redeemable Convertible Preferred Stock And Stockholders' Equity - USD ($)
shares in Thousands, $ in Thousands
Total
Preferred Stock Series E Redeemable Convertible [Member]
Preferred Stock Series F Redeemable Convertible [Member]
Redeemable convertible preferred stock [Member]
Temporary Equity [Member]
Preferred Stock Series A Redeemable Convertible [Member]
Temporary Equity [Member]
Preferred Stock Series B Redeemable Convertible [Member]
Temporary Equity [Member]
Preferred Stock Series C Redeemable Convertible [Member]
Temporary Equity [Member]
Preferred Stock Series D Redeemable Convertible [Member]
Temporary Equity [Member]
Preferred Stock Series E Redeemable Convertible [Member]
Temporary Equity [Member]
Preferred Stock Series F Redeemable Convertible [Member]
Temporary Equity [Member]
Redeemable convertible preferred stock [Member]
Common Stock [Member]
Class A common stock [Member]
Common Stock [Member]
Class B common stock [Member]
Treasury stock [Member]
Additional paid-in capital [Member]
Accumulated deficit [Member]
Accumulated other comprehensive income (loss) [Member]
Beginning balance, Shares at Dec. 31, 2021         33,621 17,586 18,445 23,203 9,077     45,265   4,960      
Beginning balance at Dec. 31, 2021 $ (768,408)       $ 9,000 $ 17,000 $ 40,050 $ 64,152 $ 149,024   $ 279,226 $ 5   $ (2,877) $ 113,103 $ (883,350) $ 4,711
Issuance of common stock upon exercise of stock options (Shares)                       510          
Issuance of common stock upon exercise of stock options 486                           486    
Issuance of common stock in connection with business combination (Shares)                       2,219          
Issuance of common stock in connection with business combination 120,961                           120,961    
Issuance of common stock in connection with merger termination costs (Shares)                       397          
Issuance of common stock in connection with merger termination costs 15,520                           15,520    
Issuance of common stock in connection with initial public offering, net of underwriting discounts and commissions and offering costs (Shares)   27,790 9,516                            
Issuance of common stock in connection with initial public offering, net of underwriting discounts and commissions and offering costs 1,074,014 $ 451,035 $ 400,999 $ 852,034                     1,074,014    
Stock-based compensation 75,528                           75,528    
Other comprehensive income (loss), net of tax (1,355)                               (1,355)
Net income (loss) (768,847)                             (768,847)  
Ending balance, Shares at Dec. 31, 2022         33,621 17,586 18,445 23,203 36,867 9,516   48,391   4,960      
Ending balance at Dec. 31, 2022 (252,101)       $ 9,000 $ 17,000 $ 40,050 $ 64,152 $ 600,059 $ 400,999 $ 1,131,260 $ 5   $ (2,877) 1,399,612 (1,652,197) 3,356
Adoption of new accounting standards $ (972)                             (972)  
Issuance of common stock upon exercise of stock options (Shares) 990                                
Issuance of common stock in connection with business combination (Shares)                       8,367          
Issuance of common stock in connection with business combination $ 209,939                           209,938    
Issuance of common stock in connection with initial public offering, net of underwriting discounts and commissions and offering costs (Shares)                       990          
Issuance of common stock in connection with initial public offering, net of underwriting discounts and commissions and offering costs 1,037                           1,037    
Vesting and issuance of common shares in connection with business combinations                       1,246          
Stock-based compensation 121,178                           121,178    
Other comprehensive income (loss), net of tax 1,573                               1,573
Cancellation of treasury stock, net (Shares)                       (349)          
Cancellation of treasury stock, net (8,745)                           (8,745)    
Net income (loss) $ 267,562                             267,562  
Ending balance, Shares at Dec. 31, 2023 4,960       33,621 17,586 18,445 23,203 36,867 9,516 139,238 58,645   4,960      
Ending balance at Dec. 31, 2023 $ 339,471       $ 9,000 $ 17,000 $ 40,050 $ 64,152 $ 600,059 $ 400,999 $ 1,131,260 $ 6   $ (2,877) 1,723,020 (1,385,607) 4,929
Adoption of new accounting standards 6,934                             6,934  
Issuance of common stock upon exercise of stock options (Shares)                       463          
Issuance of common stock upon exercise of stock options 355                           355    
Issuance of common stock in connection with business combination (Shares)                       1,444          
Stock-based compensation 12,808                           12,808    
Other comprehensive income (loss), net of tax (44)                               (44)
Net income (loss) 48,639                             48,639  
Ending balance, Shares at Mar. 31, 2024                     139,238 60,552   4,960      
Ending balance at Mar. 31, 2024 $ 408,163                   $ 1,131,260 $ 6   $ (2,877) 1,736,183 (1,330,034) 4,885
Beginning balance, Shares at Dec. 31, 2023 4,960       33,621 17,586 18,445 23,203 36,867 9,516 139,238 58,645   4,960      
Beginning balance at Dec. 31, 2023 $ 339,471       $ 9,000 $ 17,000 $ 40,050 $ 64,152 $ 600,059 $ 400,999 $ 1,131,260 $ 6   $ (2,877) 1,723,020 (1,385,607) 4,929
Net income (loss) 81,562                                
Ending balance, Shares at Jun. 30, 2024                     139,238 60,811   4,960      
Ending balance at Jun. 30, 2024 $ 460,859                   $ 1,131,260 $ 6   $ (2,877) 1,756,662 (1,297,111) 4,179
Beginning balance, Shares at Dec. 31, 2023 4,960       33,621 17,586 18,445 23,203 36,867 9,516 139,238 58,645   4,960      
Beginning balance at Dec. 31, 2023 $ 339,471       $ 9,000 $ 17,000 $ 40,050 $ 64,152 $ 600,059 $ 400,999 $ 1,131,260 $ 6   $ (2,877) 1,723,020 (1,385,607) 4,929
Adoption of new accounting standards $ 6,727                             6,727  
Issuance of common stock upon exercise of stock options (Shares) 1,221                     1,221          
Issuance of common stock upon exercise of stock options $ 1,614                           1,614    
Issuance of common stock in connection with initial public offering, net of underwriting discounts and commissions and offering costs (Shares)   524                              
Issuance of common stock in connection with initial public offering, net of underwriting discounts and commissions and offering costs 4,692 $ 8,505   $ 8,505                     4,692    
Vesting of restricted stock units and common stock in connection with business combinations                       1,447          
Stock-based compensation 63,643                           63,643    
Other comprehensive income (loss), net of tax (1,285)                               (1,285)
Net income (loss) $ 155,667                             155,667  
Ending balance, Shares at Dec. 31, 2024 4,960       33,621 17,586 18,445 23,203 37,391 9,516 139,762 61,313   4,960      
Ending balance at Dec. 31, 2024 $ 570,529       $ 9,000 $ 17,000 $ 40,050 $ 64,152 $ 608,564 $ 400,999 $ 1,139,765 $ 6   $ (2,877) 1,792,969 (1,223,213) 3,644
Beginning balance, Shares at Mar. 31, 2024                     139,238 60,552   4,960      
Beginning balance at Mar. 31, 2024 408,163                   $ 1,131,260 $ 6   $ (2,877) 1,736,183 (1,330,034) 4,885
Issuance of common stock upon exercise of stock options (Shares)                       259          
Issuance of common stock upon exercise of stock options 273                           273    
Stock-based compensation 20,206                           20,206    
Other comprehensive income (loss), net of tax (706)                               (706)
Net income (loss) 32,923                             32,923  
Ending balance, Shares at Jun. 30, 2024                     139,238 60,811   4,960      
Ending balance at Jun. 30, 2024 $ 460,859                   $ 1,131,260 $ 6   $ (2,877) 1,756,662 (1,297,111) 4,179
Beginning balance, Shares at Dec. 31, 2024 4,960       33,621 17,586 18,445 23,203 37,391 9,516 139,762 61,313   4,960      
Beginning balance at Dec. 31, 2024 $ 570,529       $ 9,000 $ 17,000 $ 40,050 $ 64,152 $ 608,564 $ 400,999 $ 1,139,765 $ 6   $ (2,877) 1,792,969 (1,223,213) 3,644
Issuance of common stock upon exercise of stock options (Shares)                       1,009          
Issuance of common stock upon exercise of stock options 642                           642    
Issuance of common stock and preferred stock upon exercise of warrants (Shares)                     45 1,130          
Issuance of common stock and preferred stock upon exercise of warrants 854                   $ 737       854    
Issuance of common stock in connection with business combination (Shares)                       3,857          
Issuance of common stock in connection with business combination 89,919                           89,919    
Warrants in common stock 1,064                           1,064    
Vesting of restricted stock units and common stock in connection with business combinations                       1          
Stock-based compensation 15,440                           15,440    
Other comprehensive income (loss), net of tax 1,725                               1,725
Net income (loss) 64,791                             64,791  
Other 12                             12  
Ending balance, Shares at Mar. 31, 2025                     139,807 67,310   4,960      
Ending balance at Mar. 31, 2025 $ 744,976                   $ 1,140,502 $ 6   $ (2,877) 1,900,888 (1,158,410) 5,369
Beginning balance, Shares at Dec. 31, 2024 4,960       33,621 17,586 18,445 23,203 37,391 9,516 139,762 61,313   4,960      
Beginning balance at Dec. 31, 2024 $ 570,529       $ 9,000 $ 17,000 $ 40,050 $ 64,152 $ 608,564 $ 400,999 $ 1,139,765 $ 6   $ (2,877) 1,792,969 (1,223,213) 3,644
Issuance of common stock upon exercise of stock options (Shares) 1,955                                
Net income (loss) $ (417,309)                                
Ending balance, Shares at Jun. 30, 2025 5,000                   0 213,914 19,580 4,960      
Ending balance at Jun. 30, 2025 $ 2,370,831                   $ 0 $ 23 $ 2 $ (2,877) 3,998,827 (1,640,510) 15,366
Beginning balance, Shares at Mar. 31, 2025                     139,807 67,310   4,960      
Beginning balance at Mar. 31, 2025 744,976                   $ 1,140,502 $ 6   $ (2,877) 1,900,888 (1,158,410) 5,369
Issuance of common stock upon exercise of stock options (Shares)                       946          
Issuance of common stock upon exercise of stock options 6,157                           6,157    
Issuance of common stock in connection with initial public offering, net of underwriting discounts and commissions and offering costs (Shares)                       19,900          
Issuance of common stock in connection with initial public offering, net of underwriting discounts and commissions and offering costs 570,129                     $ 2     570,127    
Issuance of common stock upon settlement of restricted stock units, net of shares withheld (Shares)                       5,518          
Issuance of common stock upon settlement of restricted stock units, net of shares withheld 362,191                           362,191    
Conversion of redeemable convertible preferred stock to common stock in connection with initial public offering (Shares)                     (139,807) 139,807          
Conversion of redeemable convertible preferred stock to common stock in connection with initial public offering 1,140,502                   $ (1,140,502) $ 14     1,140,488    
Conversion of Class A common stock to Class B common stock in connection with initial public offering (Shares)                       (19,580) 19,580        
Conversion of Class A common stock to Class B common stock in connection with initial public offering                       $ (2) $ 2        
Warrants in common stock 4,501                           4,501    
Vesting of restricted stock units and common stock in connection with business combinations                       13          
Stock-based compensation 14,474                           14,474    
Other comprehensive income (loss), net of tax 9,997                               9,997
Net income (loss) (482,100)                             (482,100)  
Other $ 4                     $ 3     1    
Ending balance, Shares at Jun. 30, 2025 5,000                   0 213,914 19,580 4,960      
Ending balance at Jun. 30, 2025 $ 2,370,831                   $ 0 $ 23 $ 2 $ (2,877) $ 3,998,827 $ (1,640,510) $ 15,366