AppLovin (APP) 10-Q 6 Nov 24 2024 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2024	Nov. 01, 2024
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Document Transition Report	false
Entity File Number	001-40325
Entity Registrant Name	AppLovin Corporation
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	45-3264542
Entity Address, Address Line One	1100 Page Mill Road
Entity Address, City or Town	Palo Alto
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94304
City Area Code	800
Local Phone Number	839-9646
Title of 12(b) Security	Class A common stock, par value $0.00003 per share
Trading Symbol	APP
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Amendment Flag	false
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2024
Current Fiscal Year End Date	--12-31
Entity Central Index Key	0001751008
Class A Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		298,667,774
Class B Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		36,924,030

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 567,596	$ 502,152
Accounts receivable, net	1,187,431	953,810
Prepaid expenses and other current assets	120,393	160,201
Total current assets	1,875,420	1,616,163
Property and equipment, net	177,052	173,331
Goodwill	1,852,299	1,842,850
Intangible assets, net	1,023,643	1,292,635
Other assets	514,070	434,208
Total assets	5,442,484	5,359,187
Current liabilities:
Accounts payable	427,817	371,702
Accrued and other current liabilities	240,275	278,861
Short-term debt	35,563	215,000
Deferred revenue	75,881	78,559
Total current liabilities	779,536	944,122
Long-term debt	3,474,456	2,905,906
Other non-current liabilities	250,286	252,830
Total liabilities	4,504,278	4,102,858
Commitments and contingencies
Stockholders’ equity:
Preferred stock, $0.00003 par value—100,000,000 shares authorized, no shares issued and outstanding as of September 30, 2024 and December 31, 2023	0	0
Class A and Class B Common Stock, $0.00003 par value—1,700,000,000 (Class A 1,500,000,000 and Class B 200,000,000) shares authorized, 335,481,141 (Class A 298,557,111 and Class B 36,924,030) and 339,886,712 (Class A 268,774,090 and Class B 71,112,622) shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively	11	11
Additional paid-in capital	992,588	2,134,581
Accumulated other comprehensive loss	(54,393)	(65,274)
Retained Earnings (Accumulated deficit)	0	(812,989)
Total stockholders’ equity	938,206	1,256,329
Total liabilities and stockholders’ equity	$ 5,442,484	$ 5,359,187

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2024	Dec. 31, 2023
Preferred stock, par value (in dollars per share)	$ 0.00003	$ 0.00003
Preferred stock, shares authorized (in shares)	100,000,000	100,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.00003	$ 0.00003
Common stock, shares authorized (in shares)	1,700,000,000	1,700,000,000
Common stock, shares issued (in shares)	335,481,141	339,886,712
Common stock, shares outstanding (in shares)	335,481,141	339,886,712
Class A Common Stock
Common stock, shares authorized (in shares)	1,500,000,000	1,500,000,000
Common stock, shares issued (in shares)	298,557,111	268,774,090
Common stock, shares outstanding (in shares)	298,557,111	268,774,090
Class B Common Stock
Common stock, shares authorized (in shares)	200,000,000	200,000,000
Common stock, shares issued (in shares)	36,924,030	71,112,622
Common stock, shares outstanding (in shares)	36,924,030	71,112,622

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Statement [Abstract]
Revenue	$ 1,198,235	$ 864,256	$ 3,336,469	$ 2,329,826
Costs and expenses:
Cost of revenue	269,659	265,049	846,354	785,584
Sales and marketing	205,753	212,352	634,547	607,755
Research and development	149,990	159,288	469,209	441,563
General and administrative	37,899	41,249	120,880	116,231
Total costs and expenses	663,301	677,938	2,070,990	1,951,133
Income from operations	534,934	186,318	1,265,479	378,693
Other income (expense):
Interest expense	(75,213)	(78,583)	(224,061)	(204,081)
Other income, net	7,948	1,490	19,463	27,062
Total other expense, net	(67,265)	(77,093)	(204,598)	(177,019)
Income before income taxes	467,669	109,225	1,060,881	201,674
Provision for income taxes	33,249	586	80,309	17,196
Net income	434,420	108,639	980,572	184,478
Less: Net income attributable to participating securities	110	804	2,172	963
Net income attributable to common stockholders—Basic	434,310	107,835	978,400	183,515
Net income attributable to common stock—Diluted	$ 434,314	$ 107,869	$ 978,475	$ 183,545
Net income per share attributable to Class A and Class B common stockholders:
Basic (in dollars per share)	$ 1.29	$ 0.32	$ 2.91	$ 0.51
Diluted (in dollars per share)	$ 1.25	$ 0.30	$ 2.81	$ 0.50
Weighted average common shares used to compute net income per share attributable to Class A and Class B common stockholders:
Basic (in shares)	336,931,269	341,435,759	336,167,052	357,009,609
Diluted (in shares)	348,225,463	356,906,222	348,272,617	368,259,513

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 434,420	$ 108,639	$ 980,572	$ 184,478
Other comprehensive income (loss):
Foreign currency translation adjustment, net of tax	36,235	(17,127)	10,881	(10,275)
Other comprehensive income (loss), net of tax	36,235	(17,127)	10,881	(10,275)
Comprehensive income	$ 470,655	$ 91,512	$ 991,453	$ 174,203

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders’ Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Accumulated Other Comprehensive Loss	Retained Earnings (Accumulated Deficit)
Balance at beginning of period (in shares) at Dec. 31, 2022		373,873,683
Balance at beginning of period at Dec. 31, 2022	$ 1,902,677	$ 11	$ 3,155,748	$ (83,382)	$ (1,169,700)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock issued in connection with equity awards (in shares)		4,061,015
Stock issued in connection with equity awards	2,974		2,974
Shares withheld related to net share settlement of equity awards (in shares)		(1,281,849)
Shares withheld related to net share settlement of equity awards	(19,167)		(19,167)
Repurchase of Class A common stock (in shares)		(5,396,617)
Repurchase of Class A common stock	(76,358)		(76,358)
Stock-based compensation	82,966		82,966
Other comprehensive loss, net of tax	10,006			10,006
Net income (loss)	(4,518)				(4,518)
Balance at end of period (in shares) at Mar. 31, 2023		371,256,232
Balance at end of period at Mar. 31, 2023	1,898,580	$ 11	3,146,163	(73,376)	(1,174,218)
Balance at beginning of period (in shares) at Dec. 31, 2022		373,873,683
Balance at beginning of period at Dec. 31, 2022	1,902,677	$ 11	3,155,748	(83,382)	(1,169,700)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	184,478
Balance at end of period (in shares) at Sep. 30, 2023		335,783,928
Balance at end of period at Sep. 30, 2023	1,095,790	$ 11	2,174,658	(93,657)	(985,222)
Balance at beginning of period (in shares) at Mar. 31, 2023		371,256,232
Balance at beginning of period at Mar. 31, 2023	1,898,580	$ 11	3,146,163	(73,376)	(1,174,218)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock issued in connection with equity awards (in shares)		4,227,973
Stock issued in connection with equity awards	5,748		5,748
Shares withheld related to net share settlement of equity awards (in shares)		(1,503,757)
Shares withheld related to net share settlement of equity awards	(37,436)		(37,436)
Repurchase of Class A common stock (in shares)		(25,483,835)
Repurchase of Class A common stock	(503,448)		(503,448)
Stock-based compensation	76,753		76,753
Other comprehensive loss, net of tax	(3,154)			(3,154)
Net income (loss)	80,357				80,357
Balance at end of period (in shares) at Jun. 30, 2023		348,496,613
Balance at end of period at Jun. 30, 2023	1,517,400	$ 11	2,687,780	(76,530)	(1,093,861)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock issued in connection with equity awards (in shares)		4,621,926
Stock issued in connection with equity awards	11,319		11,319
Shares withheld related to net share settlement of equity awards (in shares)		(1,549,778)
Shares withheld related to net share settlement of equity awards	(59,243)		(59,243)
Repurchase of Class A common stock (in shares)		(15,784,833)
Repurchase of Class A common stock	(573,787)		(573,787)
Stock-based compensation	108,589		108,589
Other comprehensive loss, net of tax	(17,127)			(17,127)
Net income (loss)	108,639				108,639
Balance at end of period (in shares) at Sep. 30, 2023		335,783,928
Balance at end of period at Sep. 30, 2023	1,095,790	$ 11	2,174,658	(93,657)	(985,222)
Balance at beginning of period (in shares) at Dec. 31, 2023		339,886,712
Balance at beginning of period at Dec. 31, 2023	1,256,329	$ 11	2,134,581	(65,274)	(812,989)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock issued in connection with equity awards (in shares)		3,936,518
Stock issued in connection with equity awards	23,429		23,429
Shares withheld related to net share settlement of equity awards (in shares)		(1,397,947)
Shares withheld related to net share settlement of equity awards	(80,144)		(80,144)
Repurchase of Class A common stock (in shares)		(13,466,397)
Repurchase of Class A common stock	(752,224)		(752,224)
Stock-based compensation	95,253		95,253
Other comprehensive loss, net of tax	(18,622)			(18,622)
Net income (loss)	236,183				236,183
Balance at end of period (in shares) at Mar. 31, 2024		328,958,886
Balance at end of period at Mar. 31, 2024	760,204	$ 11	1,420,895	(83,896)	(576,806)
Balance at beginning of period (in shares) at Dec. 31, 2023		339,886,712
Balance at beginning of period at Dec. 31, 2023	1,256,329	$ 11	2,134,581	(65,274)	(812,989)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	980,572
Balance at end of period (in shares) at Sep. 30, 2024		335,481,141
Balance at end of period at Sep. 30, 2024	938,206	$ 11	992,588	(54,393)	0
Balance at beginning of period (in shares) at Mar. 31, 2024		328,958,886
Balance at beginning of period at Mar. 31, 2024	760,204	$ 11	1,420,895	(83,896)	(576,806)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock issued in connection with equity awards (in shares)		9,435,913
Stock issued in connection with equity awards	9,377		9,377
Shares withheld related to net share settlement of equity awards (in shares)		(4,226,153)
Shares withheld related to net share settlement of equity awards	(356,336)		(356,336)
Stock-based compensation	98,354		98,354
Other comprehensive loss, net of tax	(6,732)			(6,732)
Net income (loss)	309,969				309,969
Balance at end of period (in shares) at Jun. 30, 2024		334,168,646
Balance at end of period at Jun. 30, 2024	814,836	$ 11	1,172,290	(90,628)	(266,837)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock issued in connection with equity awards (in shares)		6,326,502
Stock issued in connection with equity awards	9,747		9,747
Shares withheld related to net share settlement of equity awards (in shares)		(2,398,996)
Shares withheld related to net share settlement of equity awards	(207,962)		(207,962)
Repurchase of Class A common stock (in shares)		(2,615,011)
Repurchase of Class A common stock	(229,073)		(61,490)		(167,583)
Stock-based compensation	80,003		80,003
Other comprehensive loss, net of tax	36,235			36,235
Net income (loss)	434,420				434,420
Balance at end of period (in shares) at Sep. 30, 2024		335,481,141
Balance at end of period at Sep. 30, 2024	$ 938,206	$ 11	$ 992,588	$ (54,393)	$ 0

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Operating Activities
Net income	$ 980,572	$ 184,478
Adjustments to reconcile net income to operating activities:
Amortization, depreciation and write-offs	320,843	369,897
Stock-based compensation	275,534	275,058
Other	17,229	21,826
Changes in operating assets and liabilities:
Accounts receivable	(237,530)	(146,796)
Prepaid expenses and other assets	33,199	(29,484)
Accounts payable	55,575	7,955
Accrued and other liabilities	(47,414)	34,588
Net cash provided by operating activities	1,398,008	717,522
Investing Activities
Purchase of non-marketable equity securities	(76,983)	(16,934)
Acquisition of intangible assets	(18,289)	(51,816)
Other investing activities	(11,115)	(2,275)
Net cash used in investing activities	(106,387)	(71,025)
Financing Activities
Repurchases of stock	(980,672)	(1,153,593)
Principal repayments of debt	(686,754)	(490,494)
Payment of withholding taxes related to net share settlement of equity awards	(644,442)	(115,846)
Payments of licensed asset obligation	0	(15,254)
Proceeds from issuance of debt	1,072,330	395,281
Proceeds from issuance of common stock upon exercise of stock options and purchase of ESPP shares	28,800	19,878
Other financing activities	(15,949)	(32,239)
Net cash used in financing activities	(1,226,687)	(1,392,267)
Effect of foreign exchange rate on cash and cash equivalents	510	(2,223)
Net increase (decrease) in cash and cash equivalents	65,444	(747,993)
Cash and cash equivalents at beginning of the period	502,152	1,080,484
Cash and cash equivalents at end of the period	567,596	332,491
Supplemental non-cash investing and financing activities disclosures:
Right-of-use assets acquired in exchange for lease obligations	24,527	45,242
Supplemental disclosure of cash flow information:
Cash paid for interest, net	220,140	184,600
Cash paid for income taxes, net of refunds	$ 61,825	$ 12,749

Description of Business and Sum

Description of Business and Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business and Summary of Significant Accounting Policies	Description of Business and Summary of Significant Accounting Policies Description of Business AppLovin Corporation (the “Company” or “AppLovin”) was incorporated in the state of Delaware on July 18, 2011. The Company is a leader in the advertising ecosystem providing an end-to-end software platform that allows businesses to reach, monetize and grow their global audiences. The Company also has a globally diversified portfolio of apps—free-to-play mobile games that it operates through its studios. The Company is headquartered in Palo Alto, California, and has several operating locations in the U.S. as well as various international office locations in North America, Asia, and Europe. Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles (“GAAP”) and applicable rules and regulations of the Securities and Exchange Commission (“SEC”) for interim financial reporting. Certain information and footnote disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. Therefore, the unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K filed with the SEC on February 26, 2024. The condensed consolidated balance sheet data as of December 31, 2023 was derived from the audited consolidated financial statements at that date but does not include all disclosures required by GAAP. The accompanying unaudited condensed consolidated financial statements reflect all normal and recurring adjustments, that are, in the opinion of management, necessary for the fair presentation of the Company’s financial position, results of operations, cash flows and stockholders’ equity for the interim periods presented. The results of operations for the three and nine months ended September 30, 2024 shown in this report are not necessarily indicative of the results to be expected for the full year ending December 31, 2024 or any other period. Basis of Consolidation The Company's condensed consolidated financial statements include accounts of the Company and its wholly-owned and majority-owned subsidiaries, and the ownership interest of minority investors is recorded as noncontrolling interest. In accordance with the provisions of Accounting Standards Codification ("ASC") 810, Consolidation , the Company is also required to consolidate any variable interest entities ("VIE") when it is the primary beneficiary. The primary beneficiary has both the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance and the obligation to absorb losses of the VIE that could potentially be significant to the VIE, or the right to receive benefits from the VIE that could potentially be significant to the VIE. The Company evaluates its relationships with all VIEs on an ongoing basis. All intercompany transactions and balances have been eliminated upon consolidation. Use of Estimates The preparation of the Company's condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported and disclosed in the condensed consolidated financial statements and accompanying notes. The Company bases its estimates on assumptions that are believed to be reasonable under the circumstances. On an ongoing basis, the Company evaluates its estimates, including, but not limited to, those related to fair values of assets and liabilities acquired through acquisitions, useful lives of intangible assets and property and equipment, expected period of consumption of virtual goods, income and indirect taxes, contingent liabilities, evaluation of recoverability of intangible assets and other long-lived assets, goodwill impairment, stock-based compensation, fair value of derivatives and other financial instruments. These estimates are inherently subject to judgment and actual results could differ materially from those estimates. Recent Accounting Pronouncements (Issued Not Yet Adopted) In November 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2023-07, Segment Reporting: Improvements to Reportable Segment Disclosures , which requires disclosure of incremental segment information on an annual and interim basis. The amendments will be effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. The amendments must be applied retrospectively, and early adoption is permitted. The Company is currently evaluating this ASU to determine its impact on the Company's disclosures. In December 2023, the FASB issued ASU No. 2023-09, Income Taxes: Improvements to Income Tax Disclosures , which requires disaggregation of rate reconciliation categories and income taxes paid by jurisdiction. The amendments will be effective for annual periods beginning after December 15, 2024. The amendments may be applied prospectively or retrospectively, and early adoption is permitted. The Company is currently evaluating this ASU to determine its impact on the Company's disclosures.

Revenue

Revenue	9 Months Ended
	Sep. 30, 2024
Revenue from Contract with Customer [Abstract]
Revenue	Revenue Revenue from Contracts with Customers The Company generates Software Platform and Apps revenue. Software Platform revenue is generated primarily from fees collected from advertisers and advertising networks who use the Software Platform. Apps revenue consists of in-app purchase ("IAP") revenue generated from in-app purchases made by users within the Company’s apps (“Apps”), and in-app advertising ("IAA") revenue generated from advertisers that purchase ad inventory from Apps. Software Platform Revenue The vast majority of the Software Platform Revenue is generated through AppDiscovery and MAX, which provide the technology to match advertisers and owners of digital advertising inventory (“Publishers”) via auctions at large scale and microsecond-level speeds. The terms for all mobile advertising arrangements are governed by the Company’s terms and conditions and generally stipulate payment terms of 30 days subsequent to the end of the month. Substantially all of the Company's contracts with customers are fully cancellable at any time or upon short notice. The Company’s performance obligation is to provide customers with access to the Software Platform, which facilitates the advertiser’s purchase of ad inventory from Publishers. The Company does not control the ad inventory prior to its transfer to the advertiser, because the Company does not have the substantive ability to direct the use of nor obtain substantially all of the remaining benefits from the ad inventory. The Company is not primarily responsible for fulfillment and does not have any inventory risk. The Company is an agent as it relates to the sale of third-party advertising inventory and presents revenue on a net basis. The transaction price is the product of either the number of completions of agreed upon actions or advertisements displayed and the contractually agreed upon price per advertising unit with the advertiser less consideration paid or payable to Publishers. The Company recognizes Software Platform Revenue when the agreed upon action is completed or when the ad is displayed to users. The number of advertisements delivered and completions of agreed upon actions is determined at the end of each month, which resolves any uncertainty in the transaction price during the reporting period. Software Platform Revenue also includes revenue generated from Adjust's measurement and analytics marketing platform that is recognized ratably over the subscription period, generally up to twelve months. Revenue from other services within the Software Platform was not material. Apps Revenue In-App Purchase Revenue IAP Revenue includes fees collected from users to purchase virtual goods to enhance their gameplay experience. The identified performance obligation is to provide users with the ability to acquire, use, and hold virtual items over the estimated period of time the virtual items are available to the user or until the virtual item is consumed. Payment is required at the time of purchase, and the purchase price is a fixed amount. Users make IAPs through the Company’s distribution partners. The transaction price is equal to the gross amount charged to users because the Company is the principal in the transaction. IAP fees are non-refundable. Such payments are initially recorded as deferred revenue. The Company categorizes its virtual goods as either consumable or durable. Consumable virtual goods represent goods that can be consumed by a specific player action in gameplay; accordingly, the Company recognizes revenue from the sale of consumable virtual goods as the goods are consumed. Durable virtual goods represent goods that are accessible to the user over an extended period of time; accordingly, the Company recognizes revenue from the sale of durable virtual goods ratably over the period of time the goods are available to the user, which is generally the estimated average user life (“EAUL”). The EAUL represents the Company’s best estimate of the expected life of paying users for the applicable game. The EAUL begins when a user makes the first purchase of durable virtual goods and ends when a user is determined to be inactive. The Company determines the EAUL on a game-by-game basis. For a newly launched game with limited playing data, the Company determines its EAUL based on the EAUL of a game with sufficiently similar characteristics. The Company determines the EAUL on a quarterly basis and applies such calculated EAUL to all bookings in the respective quarter. Determining the EAUL is subjective and requires management’s judgment. Future playing patterns may differ from historical playing patterns, and therefore the EAUL may change in the future. The EAULs are generally between five In-App Advertising Revenue IAA Revenue is generated by selling ad inventory on the Company's Apps to third-party advertisers. Advertisers purchase ad inventory either through the Software Platform or through third-party advertising networks (“Ad Networks”). Revenue from the sale of ad inventory through Ad Networks is recognized net of the amounts retained by Ad Networks as the Company is unable to determine the gross amount paid by the advertisers to Ad Networks. The Company recognizes revenue when the ad is displayed to users. The Company presents taxes collected from customers and remitted to governmental authorities on a net basis. Disaggregation of Revenue The following table presents revenue disaggregated by segment and type (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Software Platform Revenue $ 835,186 $ 504,452 $ 2,224,571 $ 1,265,273 In-App Purchase Revenue 246,344 247,309 756,110 732,262 In-App Advertising Revenue 116,705 112,495 355,788 332,291 Total Apps Revenue 363,049 359,804 1,111,898 1,064,553 Total Revenue $ 1,198,235 $ 864,256 $ 3,336,469 $ 2,329,826 Revenue disaggregated by geography, based on user location, consists of the following (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 United States $ 657,778 $ 500,586 $ 1,923,885 $ 1,393,625 Rest of the World 540,457 363,670 1,412,584 936,201 Total Revenue $ 1,198,235 $ 864,256 $ 3,336,469 $ 2,329,826 Contract Balances Contract liabilities consist of deferred revenue, which are recorded for payments received in advance of the satisfaction of performance obligations. During the three months ended September 30, 2024 and 2023, the Company recognized $41.6 million and $48.4 million of revenue that was included in deferred revenue as of June 30, 2024 and 2023, respectively. During the nine months ended September 30, 2024 and 2023, the Company recognized $76.2 million and $62.5 million of revenue that was included in deferred revenue as of December 31, 2023 and 2022, respectively. Unsatisfied Performance Obligations Substantially all of the Company’s unsatisfied performance obligations relate to contracts with an original expected length of one year or less.

Financial Instruments and Fair

Financial Instruments and Fair Value Measurements	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Financial Instruments and Fair Value Measurements	Financial Instruments and Fair Value Measurements Non-Marketable Equity Securities Measured at Net Asset Value The Company held equity interests in certain private equity funds of $78.9 million and $56.7 million as of September 30, 2024 and December 31, 2023, respectively, which are measured using the net asset value practical expedient. Under the net asset value practical expedient, the Company records investments based on the proportionate share of the underlying funds’ net asset value as of the Company's reporting date. These investments are included in other assets in the Company’s condensed consolidated balance sheets. These funds vary in investment strategies and generally have an initial term of 7 to 10 years, which may be extended for 2 to 3 additional years with the applicable approval. These investments are subject to certain restrictions regarding transfers and withdrawals and generally cannot be redeemed with the funds. Distributions from the funds will be received as the underlying investments are liquidated. The Company’s maximum exposure to loss is limited to the carrying value of these investments of $78.9 million and the unfunded commitments of $22.2 million as of September 30, 2024. During the three and nine months ended September 30, 2024, the Company made total capital contributions of $0.7 million and $19.0 million, respectively, related to these investments. No material unrealized gain or loss was recorded related to these investments for the three and nine months ended September 30, 2024. The unrealized gains related to these investments were $2.3 million and $7.3 million for the three and nine months ended September 30, 2023, respectively. Non-Marketable Equity Securities Measured at Fair Value on a Non-Recurring Basis The Company's non-marketable equity securities are investments in privately held companies without readily determinable fair values. The Company elected the measurement alternative to account for these investments. Under the measurement alternative, the carrying value of the non-marketable equity securities are adjusted based on price changes from observable transactions of identical or similar securities of the same issuer or for impairment. Any changes in carrying value are recorded within other income, net in the Company's condensed consolidated statement of operations. In February 2024, the Company entered into an agreement to invest $50.0 million in the Series C preferred stock financing of Humans, Inc., the developer of the Flip Shop social shopping app ("Flip Shop"), of which $10.0 million was closed in February 2024 and the remaining $40.0 million was closed in April 2024. In February 2024, the Company also entered into an arm's length commercial agreement with Flip Shop related to its use of the Company's AXON technology under a revenue share model. In the second quarter of 2024, the Company purchased certain additional non-marketable equity securities for a total of $8.0 million. As of September 30, 2024 and December 31, 2023, the carrying amounts of the Company's non-marketable equity securities were $68.1 million and $10.1 million, respectively, and were included in other assets in the Company’s condensed consolidated balance sheets.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Commitments As of September 30, 2024, the Company's non-cancelable minimum purchase commitment was primarily related to a multi-year contractual arrangement with a cloud services provider. In August 2024, the Company amended its agreement with the cloud services provider. Under the amended agreement, the Company committed to spend a minimum of $1.26 billion over a three-year period. As of September 30, 2024, no payment had been made towards this commitment. In addition, the Company had total unfunded commitments of $22.2 million related to investments in certain private equity funds. For additional information, see Note 3 – Financial Instruments and Fair Value Measurements. Contingencies From time to time, the Company may have certain contingent liabilities that arise in the ordinary course of business activities. The Company accrues a liability for such matters when it is probable that future expenditures will be made, and such expenditures can be reasonably estimated. Letters of Credit As of September 30, 2024 and December 31, 2023, the Company had outstanding letters of credit in the aggregate amount of $6.3 million and $6.3 million, respectively, which were issued as security for certain leased office facilities under the Credit Agreement. These letters of credit have never been drawn upon. Legal Proceedings The Company is involved from time to time in litigation, claims, and proceedings. The outcomes of the Company’s legal proceedings are inherently unpredictable and subject to significant uncertainty. The Company records a liability when it is probable that a loss has been incurred and the amount can be reasonably estimated. If it is determined that a loss is reasonably possible and the loss or range of loss can be estimated, the reasonably possible loss is disclosed. The Company evaluates developments in legal matters that could affect the amount of liability that has been previously accrued, and related reasonably possible losses disclosed, and makes adjustments as appropriate. Significant judgment is required to determine the likelihood of matters and the estimated amount of a loss related to such matters. To date, losses in connection with legal proceedings have not been material. The Company expenses legal fees in the period in which they are incurred. Indemnifications The Company enters into indemnification provisions under agreements with other parties in the ordinary course of business, including certain customers, business partners, investors, contractors and the Company’s officers, directors and certain employees. It is not possible to determine the maximum potential loss under these indemnification provisions due to the Company’s limited history of prior indemnification claims and the unique facts and circumstances involved in each particular provision. To date, losses recorded in the Company’s condensed consolidated statements of operations in connection with the indemnification provisions have not been material. As of September 30, 2024, the Company did not have any material indemnification claims that were probable or reasonably possible. Non-income Taxes

Goodwill and Intangible Assets

Goodwill and Intangible Assets	9 Months Ended
	Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets The following table presents the changes in the carrying amount of goodwill by reporting unit (in thousands): Software Platform Apps Total December 31, 2023 $ 1,497,109 $ 345,741 $ 1,842,850 Foreign currency translation 9,449 — 9,449 September 30, 2024 $ 1,506,558 $ 345,741 $ 1,852,299 Intangible assets, net consisted of the following (in thousands): Weighted- As of September 30, 2024 As of December 31, 2023 Gross Accumulated Net Book Gross Accumulated Net Book Apps 3.4 $ 1,831,339 $ (1,355,000) $ 476,339 $ 1,818,907 $ (1,152,611) $ 666,296 Customer relationships 7.5 521,126 (150,870) 370,256 519,175 (111,374) 407,801 User base 1.5 68,817 (54,188) 14,629 68,817 (46,874) 21,943 License asset 1.3 60,707 (41,580) 19,127 59,207 (31,003) 28,204 Developed technology 2.9 208,798 (114,969) 93,829 207,900 (88,716) 119,184 Other 2.8 79,051 (29,588) 49,463 71,196 (21,989) 49,207 Total intangible assets $ 2,769,838 $ (1,746,195) $ 1,023,643 $ 2,745,202 $ (1,452,567) $ 1,292,635 The Company recorded amortization expenses related to acquired intangible assets as follows (in thousands): Three Months Ended September 30, Nine Months Ended 2024 2023 2024 2023 Cost of revenue $ 73,679 $ 93,398 $ 245,493 $ 288,180 Sales and marketing 16,851 16,829 50,472 50,397 Total $ 90,530 $ 110,227 $ 295,965 $ 338,577

Equity

Equity	9 Months Ended
	Sep. 30, 2024
Equity [Abstract]
Equity	Equity In February 2022, the Company's Board authorized the repurchase of up to $750.0 million of the Company’s Class A common stock. In May and August 2023, the Company's Board authorized increases to the repurchase program of $296.0 million and $447.6 million, respectively. In February 2024, the Company's Board authorized an additional increase of $1.25 billion to the repurchase program. Repurchases may be made from time to time through open market purchases or through privately negotiated transactions, subject to market conditions, applicable legal requirements and other relevant factors. Open market repurchases may be structured to occur in accordance with the requirements of Rule 10b-18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). The Company may also, from time to time, enter into Rule 10b-5 trading plans, to facilitate repurchases of shares. The repurchase program does not obligate the Company to acquire any particular amount of Class A common stock, has no expiration date and may be modified, suspended, or terminated at any time at the Company's discretion. During the nine months ended September 30, 2024 and 2023, the Company repurchased and subsequently retired 16,081,408 and 46,665,285 shares of Class A common stock for an aggregate amount, including commissions and fees, of $981.3 million and $1,153.6 million, respectively. As of September 30, 2024, $271.0 million remains available of the authorized amount under the repurchase program. During the three and nine months ended September 30, 2024, 268,791 and

Stock-based Compensation

Stock-based Compensation	9 Months Ended
	Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]
Stock-based Compensation	Stock-based Compensation The Company maintains three equity compensation plans that provide for the issuance of shares of its common stock to the Company’s employees, directors, consultants and other service providers: the 2021 Equity Incentive Plan (the "2021 Plan"), the 2021 Partner Studio Incentive Plan, and the 2021 Employee Stock Purchase Plan (the "ESPP"). In February 2024, the Company settled a liability of $15.7 million related to certain Wurl performance-based incentive plan through the issuance of 346,836 shares of the Company's Class A common stock under the 2021 Plan and $2.1 million in cash. During the nine months ended September 30, 2024, 13,493,410 performance-based restricted stock units ("PSUs") vested upon the achievement of stock price targets ranging from $46.75 to $79.00 per share, resulting in a total stock-based compensation expense of $64.5 million. As of September 30, 2024, there were no unvested PSUs outstanding. During the nine months ended September 30, 2024, the Company granted 211,977 restricted stock units ("RSUs") to certain employees under the 2021 Plan at a weighted average grant date fair value of $63.59 per share. These awards vest based on a service condition that is satisfied generally over one year. During the nine months ended September 30, 2024, 226,066 shares of Class A common stock were purchased under the ESPP. Stock-based compensation expense is attributed to the cost center to which the award holder belongs. The following table summarizes total stock-based compensation expense by function (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Cost of revenue $ 1,314 $ 1,309 $ 4,104 $ 3,942 Sales and marketing 22,203 26,025 67,651 62,121 Research and development 47,940 70,462 169,205 176,337 General and administrative 10,100 13,043 34,574 32,658 Total $ 81,557 $ 110,839 $ 275,534 $ 275,058

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share The rights, including the liquidation and dividend rights, of the holders of Class A and Class B common stock are identical, except with respect to voting and conversion. Each share of Class A common stock is entitled to one vote per share and each share of Class B common stock is entitled to 20 votes per share. Each share of Class B common stock is convertible into a share of Class A common stock voluntarily at any time by the holder, and automatically upon certain events. The Class A common stock has no conversion rights. As the liquidation and dividend rights are identical for Class A and Class B common stock, the undistributed earnings are allocated on a proportional basis and the resulting net income per share attributable to common stockholders will, therefore, be the same for both Class A and Class B common stock on an individual or combined basis. The following table sets forth the computation of basic and diluted net income per share attributable to common stockholders (in thousands, except share and per share data): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Basic EPS Numerator: Net income $ 434,420 $ 108,639 $ 980,572 $ 184,478 Less: Income attributable to options exercised by promissory notes (110) (442) (1,169) (720) Income attributable to common stock subject to share repurchase agreements — (360) (1,001) (228) Income attributable to unvested early exercised options — (2) (2) (15) Net income attributable to common stockholders—Basic $ 434,310 $ 107,835 $ 978,400 $ 183,515 Denominator: Weighted-average shares used in computing net income per share—Basic 336,931,269 341,435,759 336,167,052 357,009,609 Net income per share attributable to common stockholders—Basic: $ 1.29 $ 0.32 $ 2.91 $ 0.51 Diluted EPS Numerator: Net income $ 434,420 $ 108,639 $ 980,572 $ 184,478 Less: Income attributable to options exercised by promissory notes (106) (423) (1,129) (698) Income attributable to common stock subject to share repurchase agreements — (345) (967) (220) Income attributable to unvested early exercised options — (2) (2) (15) Net income attributable to common stockholders—Diluted $ 434,314 $ 107,869 $ 978,475 $ 183,545 Denominator: Weighted-average shares used in computing net income per share—Basic 336,931,269 341,435,759 336,167,052 357,009,609 Weighted-average dilutive stock awards 11,294,194 15,470,463 12,105,565 11,249,904 Weighted-average shares used in computing net income per share—Diluted 348,225,463 356,906,222 348,272,617 368,259,513 Net income per share attributable to common stockholders—Diluted: $ 1.25 $ 0.30 $ 2.81 $ 0.50 The following table presents the forms of antidilutive potential common shares: As of September 30, 2024 2023 Stock options exercised for promissory notes 85,000 1,399,999 Early exercised stock options — 5,736 Stock options — 613,968 Unvested RSUs — 4,747,127 ESPP 32,784 — Total antidilutive potential common shares 117,784 6,766,830

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company is subject to income taxes in the U.S. and in foreign jurisdictions. The Company bases the interim tax accruals on an estimated annual effective tax rate applied to year-to-date income and records the discrete tax items in the period to which they relate. In each quarter, the Company updates the estimated annual effective tax rate and makes a year-to-date adjustment to the tax provision as necessary. The Company’s calendar year 2024 annual effective tax rate differs from the U.S. statutory rate primarily due to jurisdictional mix of earnings, stock-based compensation expense, research and development credits, foreign tax credits, foreign derived intangible income deduction, and global intangible low-taxed income. During the nine months ended September 30, 2024, there were no material changes to the Company's unrecognized tax benefits, and the Company does not expect material changes in unrecognized tax benefits within the next twelve months.

Segments

Segments	9 Months Ended
	Sep. 30, 2024
Segment Reporting [Abstract]
Segments	Segments The Company determines its operating segments based on how its chief operating decision maker (“CODM”), the Chief Executive Officer, manages the business, allocates resources, makes operating decisions and evaluates operating performance. The Company's two operating and reportable segments are as follows: • Software Platform : Software Platform generates revenue primarily from fees paid by advertisers for the placement of ads on mobile applications owned by Publishers. • Apps : Apps generates revenue when a user of one of the Apps makes an in-app purchase and when an advertiser purchases the digital advertising inventory of the Company's portfolio of Apps. The CODM evaluates the performance of each operating segment using revenue and segment adjusted EBITDA. The Company defines segment adjusted EBITDA as revenue less expenses, excluding depreciation and amortization and certain items that the Company does not believe are reflective of the operating segments’ core operations. Expenses include indirect costs that are allocated to operating segments based on a reasonable allocation methodology, which are generally related to sales and marketing activities and general and administrative overhead. Revenue and expenses exclude transactions between the Company's operating segments. The CODM does not evaluate operating segments using asset information, and, accordingly, the Company does not report asset information by segment. The following table provides information about the Company's reportable segments and a reconciliation of the total segment adjusted EBITDA to income before income taxes (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Revenue: Software Platform $ 835,186 $ 504,452 $ 2,224,571 $ 1,265,273 Apps 363,049 359,804 1,111,898 1,064,553 Total Revenue $ 1,198,235 $ 864,256 $ 3,336,469 $ 2,329,826 Segment Adjusted EBITDA: Software Platform $ 653,396 $ 364,117 $ 1,665,898 $ 855,697 Apps 68,220 55,174 205,683 170,806 Total Segment Adjusted EBITDA $ 721,616 $ 419,291 $ 1,871,581 $ 1,026,503 Interest expense $ (75,213) $ (78,583) $ (224,061) $ (204,081) Other income, net 4,500 771 17,138 26,359 Amortization, depreciation and write-offs (99,635) (121,797) (320,843) (369,897) Loss on disposal of long-lived assets — — (1,646) — Non-operating foreign exchange gain 935 613 1,159 1,159 Stock-based compensation (81,557) (110,839) (275,534) (275,058) Transaction-related expense (26) (231) (880) (995) Restructuring costs (2,951) — (6,033) (2,316) Income before income taxes $ 467,669 $ 109,225 $ 1,060,881 $ 201,674

Credit Agreement

Credit Agreement	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
Credit Agreement	Credit Agreement The Company is a party to a certain credit agreement (the “Credit Agreement”), which provides for a senior secured term loan maturing in October 2028 (“2028 Term Loan"), a senior secured term loan maturing in August 2030 (“2030 Term Loan”), and a revolving credit facility. In March 2024, the Company entered into Amendment No. 10 to the Credit Agreement which reduces the interest rate margin from 3.1% to 2.5% with respect to SOFR loans (or from 2.0% to 1.5% with respect to base rate loans). In connection with the amendment, the Company increased the aggregate principal amount of the 2030 Term Loan to $2.09 billion and reduced the aggregate principal amount of the 2028 Term Loan to $1.46 billion. The other material terms of the Credit Agreement remain unchanged. The transaction was assessed at the syndicated lender level and was accounted for primarily as a debt modification. The Company expensed $6.2 million of third-party costs incurred with the amendment in other income, net in the Company’s condensed consolidated statement of operations for the nine months ended September 30, 2024. Fees paid to the lenders in connection with the amendment were recorded as an additional debt discount and are amortized to interest expense over the remaining term, together with unamortized original debt issuance costs and discount, using the effective interest method. In March 2024, the Company drew down an additional $418.7 million from the revolving credit facility to fund certain repurchases under the Company's share repurchase program. As of March 31, 2024, the entire outstanding amount under the revolving credit facility of $603.7 million was repaid in full. KKR Corporate Lending (CA) LLC, an affiliate of KKR Denali Holdings L.P. (“KKR Denali”) which owns more than 10% of the Company's voting interests, has provided revolving credit commitments in the amount of $15.0 million under the revolving credit facility.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2024
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions On February 29, 2024, the Company entered into an underwriting agreement (the “Underwriting Agreement”) with KKR Denali, and BofA Securities, Inc., acting for themselves and as representative of other underwriters (collectively, the “Underwriters”), in connection with a secondary public offering (the “Offering”) of 19,866,397 shares of the Company's Class A common stock by KKR Denali. Pursuant to the Underwriting Agreement, on March 6, 2024, the Company repurchased from the Underwriters 10,466,397 shares of Class A common stock sold to the Underwriters by KKR Denali in the Offering at a price per share of $54.46, the same per share price paid by the Underwriters to KKR Denali in the Offering. In connection with the Offering, KKR Denali converted 16,000,000 shares of Class B common stock to Class A common stock. See Note 6 – Equity for additional information on the share repurchase program. On February 14, 2024, the Company entered into certain investment and arm's length commercial agreements with Humans, Inc. See Note 3 - Financial Instruments and Fair Value Measurements for additional information. Eduardo Vivas, a member the Company's board of directors, serves as the Chief Operating Officer of Humans, Inc., and a member of its board of directors. On March 8, 2019, the Company entered into a promissory note with Rafael Vivas, the brother of Eduardo Vivas, a member of the Company's board of directors, for the purpose of advancing him funds to allow him to early exercise his stock options (“Vivas Note”). The Vivas Note was issued in the amount of $2.3 million at an interest rate of 2.59%, and later amended on August 7, 2020 to lower the interest rate on the outstanding balance of such note to the then applicable IRS annual mid-term rate of 0.41%. On March 8, 2024, the principal amount due under the Vivas Note plus accrued interest, or $2.3 million, was repaid in full to the Company and the Vivas Note was extinguished.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2024
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events In October 2024, the Company's Board approved an increase to the repurchase program of $2.0 billion such that up to $2.3 billion of Class A common stock may be repurchased.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net income (loss)	$ 434,420	$ 309,969	$ 236,183	$ 108,639	$ 80,357	$ (4,518)	$ 980,572	$ 184,478

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	9 Months Ended
	Sep. 30, 2024 shares	Sep. 30, 2024 shares
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		During our last fiscal quarter, the following officers, as defined in Rule 16a-1(f), and director terminated a “Rule 10b5-1 trading arrangement,” as defined in Regulation S-K Item 408, as follows: On July 9, 2024, Katie Jansen, our Chief Marketing Officer, terminated a Rule 10b5-1 trading plan, which was previously adopted on December 8, 2023 and intended to satisfy the affirmative defense in Rule 10b5-1(c). The terminated trading plan provided for the potential sale of the net shares (after withholding taxes) of our Class A common stock issuable upon vesting and settlement of 110,321 RSUs granted to Ms. Jansen prior to the adoption of the trading plan and was scheduled to be effective until November 30, 2024, or earlier if all transactions under the trading plan were completed. On August 1, 2024, Herald Chen, a member of our board of directors, terminated a Rule 10b5-1 trading plan, which was originally adopted on June 14, 2023, then modified on December 14, 2023, and intended to satisfy the affirmative defense in Rule 10b5-1(c). The terminated trading plan provided for the potential sale of up to an aggregate of 1,200,000 shares of our Class A common stock held by Mr. Chen and was scheduled to be effective until December 31, 2025, or earlier if all transactions under the trading plan were completed. On August 30, 2024, Victoria Valenzuela, our Chief Legal Officer, terminated a Rule 10b5-1 trading plan, which was previously adopted on March 14, 2024 and intended to satisfy the affirmative defense in Rule 10b5-1(c). The terminated trading plan provided for the potential sale of up to an aggregate of 200,000 shares of our Class A common stock held by Ms. Valenzuela and up to 110,029 additional shares of our Class A common stock issuable upon vesting and settlement of RSUs granted to Ms. Valenzuela, net of shares withheld for taxes and was scheduled to be effective until December 31, 2024, or earlier if all transactions under the trading plan were completed.
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Terminated	false
Katie Jensen [Member]
Trading Arrangements, by Individual
Name	Katie Jansen
Title	Chief Marketing Officer
Rule 10b5-1 Arrangement Terminated	true
Termination Date	July 9, 2024
Aggregate Available	110,321	110,321
Herald Chen [Member]
Trading Arrangements, by Individual
Name	Herald Chen
Title	member of our board of directors
Rule 10b5-1 Arrangement Terminated	true
Termination Date	August 1, 2024
Aggregate Available	1,200,000	1,200,000
Victoria Valenzuela [Member]
Trading Arrangements, by Individual
Name	Victoria Valenzuela
Title	Chief Legal Officer
Rule 10b5-1 Arrangement Terminated	true
Termination Date	August 30, 2024
Victoria Valenzuela Rule Trading Arrangement, Common Stock Held [Member] | Victoria Valenzuela [Member]
Trading Arrangements, by Individual
Aggregate Available	200,000	200,000
Victoria Valenzuela Rule Trading Arrangement, Common Stock Issuable Upon Vesting [Member] | Victoria Valenzuela [Member]
Trading Arrangements, by Individual
Aggregate Available	110,029	110,029

Description of Business and S_2

Description of Business and Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles (“GAAP”) and applicable rules and regulations of the Securities and Exchange Commission (“SEC”) for interim financial reporting. Certain information and footnote disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. Therefore, the unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K filed with the SEC on February 26, 2024. The condensed consolidated balance sheet data as of December 31, 2023 was derived from the audited consolidated financial statements at that date but does not include all disclosures required by GAAP. The accompanying unaudited condensed consolidated financial statements reflect all normal and recurring adjustments, that are, in the opinion of management, necessary for the fair presentation of the Company’s financial position, results of operations, cash flows and stockholders’ equity for the interim periods presented. The results of operations for the three and nine months ended September 30, 2024 shown in this report are not necessarily indicative of the results to be expected for the full year ending December 31, 2024 or any other period.
Basis of Consolidation	Basis of Consolidation The Company's condensed consolidated financial statements include accounts of the Company and its wholly-owned and majority-owned subsidiaries, and the ownership interest of minority investors is recorded as noncontrolling interest. In accordance with the provisions of Accounting Standards Codification ("ASC") 810, Consolidation , the Company is also required to consolidate any variable interest entities ("VIE") when it is the primary beneficiary. The primary beneficiary has both the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance and the obligation to absorb losses of the VIE that could potentially be significant to the VIE, or the right to receive benefits from the VIE that could potentially be significant to the VIE. The Company evaluates its relationships with all VIEs on an ongoing basis. All intercompany transactions and balances have been eliminated upon consolidation.
Use of Estimates	Use of Estimates The preparation of the Company's condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported and disclosed in the condensed consolidated financial statements and accompanying notes. The Company bases its estimates on assumptions that are believed to be reasonable under the circumstances. On an ongoing basis, the Company evaluates its estimates, including, but not limited to, those related to fair values of assets and liabilities acquired through acquisitions, useful lives of intangible assets and property and equipment, expected period of consumption of virtual goods, income and indirect taxes, contingent liabilities, evaluation of recoverability of intangible assets and other long-lived assets, goodwill impairment, stock-based compensation, fair value of derivatives and other financial instruments. These estimates are inherently subject to judgment and actual results could differ materially from those estimates.
Recent Accounting Pronouncements (Issued Not Yet Adopted)	Recent Accounting Pronouncements (Issued Not Yet Adopted) In November 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2023-07, Segment Reporting: Improvements to Reportable Segment Disclosures , which requires disclosure of incremental segment information on an annual and interim basis. The amendments will be effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. The amendments must be applied retrospectively, and early adoption is permitted. The Company is currently evaluating this ASU to determine its impact on the Company's disclosures. In December 2023, the FASB issued ASU No. 2023-09, Income Taxes: Improvements to Income Tax Disclosures , which requires disaggregation of rate reconciliation categories and income taxes paid by jurisdiction. The amendments will be effective for annual periods beginning after December 15, 2024. The amendments may be applied prospectively or retrospectively, and early adoption is permitted. The Company is currently evaluating this ASU to determine its impact on the Company's disclosures.
Revenue from Contracts with Customers	Revenue from Contracts with Customers The Company generates Software Platform and Apps revenue. Software Platform revenue is generated primarily from fees collected from advertisers and advertising networks who use the Software Platform. Apps revenue consists of in-app purchase ("IAP") revenue generated from in-app purchases made by users within the Company’s apps (“Apps”), and in-app advertising ("IAA") revenue generated from advertisers that purchase ad inventory from Apps. Software Platform Revenue The vast majority of the Software Platform Revenue is generated through AppDiscovery and MAX, which provide the technology to match advertisers and owners of digital advertising inventory (“Publishers”) via auctions at large scale and microsecond-level speeds. The terms for all mobile advertising arrangements are governed by the Company’s terms and conditions and generally stipulate payment terms of 30 days subsequent to the end of the month. Substantially all of the Company's contracts with customers are fully cancellable at any time or upon short notice. The Company’s performance obligation is to provide customers with access to the Software Platform, which facilitates the advertiser’s purchase of ad inventory from Publishers. The Company does not control the ad inventory prior to its transfer to the advertiser, because the Company does not have the substantive ability to direct the use of nor obtain substantially all of the remaining benefits from the ad inventory. The Company is not primarily responsible for fulfillment and does not have any inventory risk. The Company is an agent as it relates to the sale of third-party advertising inventory and presents revenue on a net basis. The transaction price is the product of either the number of completions of agreed upon actions or advertisements displayed and the contractually agreed upon price per advertising unit with the advertiser less consideration paid or payable to Publishers. The Company recognizes Software Platform Revenue when the agreed upon action is completed or when the ad is displayed to users. The number of advertisements delivered and completions of agreed upon actions is determined at the end of each month, which resolves any uncertainty in the transaction price during the reporting period. Software Platform Revenue also includes revenue generated from Adjust's measurement and analytics marketing platform that is recognized ratably over the subscription period, generally up to twelve months. Revenue from other services within the Software Platform was not material. Apps Revenue In-App Purchase Revenue IAP Revenue includes fees collected from users to purchase virtual goods to enhance their gameplay experience. The identified performance obligation is to provide users with the ability to acquire, use, and hold virtual items over the estimated period of time the virtual items are available to the user or until the virtual item is consumed. Payment is required at the time of purchase, and the purchase price is a fixed amount. Users make IAPs through the Company’s distribution partners. The transaction price is equal to the gross amount charged to users because the Company is the principal in the transaction. IAP fees are non-refundable. Such payments are initially recorded as deferred revenue. The Company categorizes its virtual goods as either consumable or durable. Consumable virtual goods represent goods that can be consumed by a specific player action in gameplay; accordingly, the Company recognizes revenue from the sale of consumable virtual goods as the goods are consumed. Durable virtual goods represent goods that are accessible to the user over an extended period of time; accordingly, the Company recognizes revenue from the sale of durable virtual goods ratably over the period of time the goods are available to the user, which is generally the estimated average user life (“EAUL”). The EAUL represents the Company’s best estimate of the expected life of paying users for the applicable game. The EAUL begins when a user makes the first purchase of durable virtual goods and ends when a user is determined to be inactive. The Company determines the EAUL on a game-by-game basis. For a newly launched game with limited playing data, the Company determines its EAUL based on the EAUL of a game with sufficiently similar characteristics. The Company determines the EAUL on a quarterly basis and applies such calculated EAUL to all bookings in the respective quarter. Determining the EAUL is subjective and requires management’s judgment. Future playing patterns may differ from historical playing patterns, and therefore the EAUL may change in the future. The EAULs are generally between five In-App Advertising Revenue IAA Revenue is generated by selling ad inventory on the Company's Apps to third-party advertisers. Advertisers purchase ad inventory either through the Software Platform or through third-party advertising networks (“Ad Networks”). Revenue from the sale of ad inventory through Ad Networks is recognized net of the amounts retained by Ad Networks as the Company is unable to determine the gross amount paid by the advertisers to Ad Networks. The Company recognizes revenue when the ad is displayed to users. The Company presents taxes collected from customers and remitted to governmental authorities on a net basis.

Revenue (Tables)

Revenue (Tables)	9 Months Ended
	Sep. 30, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Revenue Disaggregated by Type	The following table presents revenue disaggregated by segment and type (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Software Platform Revenue $ 835,186 $ 504,452 $ 2,224,571 $ 1,265,273 In-App Purchase Revenue 246,344 247,309 756,110 732,262 In-App Advertising Revenue 116,705 112,495 355,788 332,291 Total Apps Revenue 363,049 359,804 1,111,898 1,064,553 Total Revenue $ 1,198,235 $ 864,256 $ 3,336,469 $ 2,329,826
Schedule of Revenue Disaggregated by Geography	Revenue disaggregated by geography, based on user location, consists of the following (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 United States $ 657,778 $ 500,586 $ 1,923,885 $ 1,393,625 Rest of the World 540,457 363,670 1,412,584 936,201 Total Revenue $ 1,198,235 $ 864,256 $ 3,336,469 $ 2,329,826

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill Activity	The following table presents the changes in the carrying amount of goodwill by reporting unit (in thousands): Software Platform Apps Total December 31, 2023 $ 1,497,109 $ 345,741 $ 1,842,850 Foreign currency translation 9,449 — 9,449 September 30, 2024 $ 1,506,558 $ 345,741 $ 1,852,299
Schedule of Intangible Assets Acquired, Net	Intangible assets, net consisted of the following (in thousands): Weighted- As of September 30, 2024 As of December 31, 2023 Gross Accumulated Net Book Gross Accumulated Net Book Apps 3.4 $ 1,831,339 $ (1,355,000) $ 476,339 $ 1,818,907 $ (1,152,611) $ 666,296 Customer relationships 7.5 521,126 (150,870) 370,256 519,175 (111,374) 407,801 User base 1.5 68,817 (54,188) 14,629 68,817 (46,874) 21,943 License asset 1.3 60,707 (41,580) 19,127 59,207 (31,003) 28,204 Developed technology 2.9 208,798 (114,969) 93,829 207,900 (88,716) 119,184 Other 2.8 79,051 (29,588) 49,463 71,196 (21,989) 49,207 Total intangible assets $ 2,769,838 $ (1,746,195) $ 1,023,643 $ 2,745,202 $ (1,452,567) $ 1,292,635
Schedule of Finite-Lived Intangible Assets, Amortization Expenses	The Company recorded amortization expenses related to acquired intangible assets as follows (in thousands): Three Months Ended September 30, Nine Months Ended 2024 2023 2024 2023 Cost of revenue $ 73,679 $ 93,398 $ 245,493 $ 288,180 Sales and marketing 16,851 16,829 50,472 50,397 Total $ 90,530 $ 110,227 $ 295,965 $ 338,577

Stock-based Compensation (Table

Stock-based Compensation (Tables)	9 Months Ended
	Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Stock-based Payment Arrangement Expenses	The following table summarizes total stock-based compensation expense by function (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Cost of revenue $ 1,314 $ 1,309 $ 4,104 $ 3,942 Sales and marketing 22,203 26,025 67,651 62,121 Research and development 47,940 70,462 169,205 176,337 General and administrative 10,100 13,043 34,574 32,658 Total $ 81,557 $ 110,839 $ 275,534 $ 275,058

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Schedule of Basic and Diluted Net Income (Loss) Per Share Attributable to Common Stockholders	The following table sets forth the computation of basic and diluted net income per share attributable to common stockholders (in thousands, except share and per share data): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Basic EPS Numerator: Net income $ 434,420 $ 108,639 $ 980,572 $ 184,478 Less: Income attributable to options exercised by promissory notes (110) (442) (1,169) (720) Income attributable to common stock subject to share repurchase agreements — (360) (1,001) (228) Income attributable to unvested early exercised options — (2) (2) (15) Net income attributable to common stockholders—Basic $ 434,310 $ 107,835 $ 978,400 $ 183,515 Denominator: Weighted-average shares used in computing net income per share—Basic 336,931,269 341,435,759 336,167,052 357,009,609 Net income per share attributable to common stockholders—Basic: $ 1.29 $ 0.32 $ 2.91 $ 0.51 Diluted EPS Numerator: Net income $ 434,420 $ 108,639 $ 980,572 $ 184,478 Less: Income attributable to options exercised by promissory notes (106) (423) (1,129) (698) Income attributable to common stock subject to share repurchase agreements — (345) (967) (220) Income attributable to unvested early exercised options — (2) (2) (15) Net income attributable to common stockholders—Diluted $ 434,314 $ 107,869 $ 978,475 $ 183,545 Denominator: Weighted-average shares used in computing net income per share—Basic 336,931,269 341,435,759 336,167,052 357,009,609 Weighted-average dilutive stock awards 11,294,194 15,470,463 12,105,565 11,249,904 Weighted-average shares used in computing net income per share—Diluted 348,225,463 356,906,222 348,272,617 368,259,513 Net income per share attributable to common stockholders—Diluted: $ 1.25 $ 0.30 $ 2.81 $ 0.50
Schedule of Antidilutive Potential Common Shares	The following table presents the forms of antidilutive potential common shares: As of September 30, 2024 2023 Stock options exercised for promissory notes 85,000 1,399,999 Early exercised stock options — 5,736 Stock options — 613,968 Unvested RSUs — 4,747,127 ESPP 32,784 — Total antidilutive potential common shares 117,784 6,766,830

Segments (Tables)

Segments (Tables)	9 Months Ended
	Sep. 30, 2024
Segment Reporting [Abstract]
Schedule of Segment Reporting Information	The following table provides information about the Company's reportable segments and a reconciliation of the total segment adjusted EBITDA to income before income taxes (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Revenue: Software Platform $ 835,186 $ 504,452 $ 2,224,571 $ 1,265,273 Apps 363,049 359,804 1,111,898 1,064,553 Total Revenue $ 1,198,235 $ 864,256 $ 3,336,469 $ 2,329,826 Segment Adjusted EBITDA: Software Platform $ 653,396 $ 364,117 $ 1,665,898 $ 855,697 Apps 68,220 55,174 205,683 170,806 Total Segment Adjusted EBITDA $ 721,616 $ 419,291 $ 1,871,581 $ 1,026,503 Interest expense $ (75,213) $ (78,583) $ (224,061) $ (204,081) Other income, net 4,500 771 17,138 26,359 Amortization, depreciation and write-offs (99,635) (121,797) (320,843) (369,897) Loss on disposal of long-lived assets — — (1,646) — Non-operating foreign exchange gain 935 613 1,159 1,159 Stock-based compensation (81,557) (110,839) (275,534) (275,058) Transaction-related expense (26) (231) (880) (995) Restructuring costs (2,951) — (6,033) (2,316) Income before income taxes $ 467,669 $ 109,225 $ 1,060,881 $ 201,674

Revenue - Narrative (Details)

Revenue - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Disaggregation of Revenue [Line Items]
Deferred revenue	$ 41.6	$ 48.4	$ 76.2	$ 62.5
Durable Virtual Goods | Minimum
Disaggregation of Revenue [Line Items]
Estimated average user life			5 months
Durable Virtual Goods | Maximum
Disaggregation of Revenue [Line Items]
Estimated average user life			10 months

Revenue - Schedule of Revenue D

Revenue - Schedule of Revenue Disaggregated by Type (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Revenue from External Customer [Line Items]
Revenue	$ 1,198,235	$ 864,256	$ 3,336,469	$ 2,329,826
Software Platform Revenue | Operating Segments
Revenue from External Customer [Line Items]
Revenue	835,186	504,452	2,224,571	1,265,273
Total Apps Revenue
Revenue from External Customer [Line Items]
Revenue	363,049	359,804	1,111,898	1,064,553
Total Apps Revenue | Operating Segments
Revenue from External Customer [Line Items]
Revenue	363,049	359,804	1,111,898	1,064,553
In-App Purchase Revenue
Revenue from External Customer [Line Items]
Revenue	246,344	247,309	756,110	732,262
In-App Advertising Revenue
Revenue from External Customer [Line Items]
Revenue	$ 116,705	$ 112,495	$ 355,788	$ 332,291

Revenue - Schedule of Revenue_2

Revenue - Schedule of Revenue Disaggregated by Geography (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Disaggregation of Revenue [Line Items]
Revenue	$ 1,198,235	$ 864,256	$ 3,336,469	$ 2,329,826
United States
Disaggregation of Revenue [Line Items]
Revenue	657,778	500,586	1,923,885	1,393,625
Rest of the World
Disaggregation of Revenue [Line Items]
Revenue	$ 540,457	$ 363,670	$ 1,412,584	$ 936,201

Financial Instruments and Fai_2

Financial Instruments and Fair Value Measurements - (Details) - USD ($) $ in Millions	1 Months Ended		3 Months Ended			9 Months Ended
	Apr. 30, 2024	Feb. 29, 2024	Sep. 30, 2024	Jun. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Fair Value by Fair Value Hierarchy Level [Line Items]
Investment			$ 78.9			$ 78.9
Unfunded commitments			22.2			22.2
Capital contributions			0.7			19
Unrealized gain (loss) on investments			0		$ 2.3	0	$ 7.3
Investment in equity securities			68.1			$ 68.1		$ 10.1
Payments to acquire equity securities				$ 8
Series C Preferred Stock
Fair Value by Fair Value Hierarchy Level [Line Items]
Investment in equity securities		$ 50
Payments to acquire equity securities	$ 40	$ 10
Minimum
Fair Value by Fair Value Hierarchy Level [Line Items]
Investment fund, term						7 years
Investment fund, option to extend, term						2 years
Maximum
Fair Value by Fair Value Hierarchy Level [Line Items]
Investment fund, term						10 years
Investment fund, option to extend, term						3 years
Fair Value Measured at Net Asset Value Per Share
Fair Value by Fair Value Hierarchy Level [Line Items]
Equity securities without readily determinable fair value			$ 78.9			$ 78.9		$ 56.7

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended
	Aug. 31, 2024	Jun. 30, 2024	Sep. 30, 2024	Dec. 31, 2023
Other Commitments [Line Items]
Amended contractual obligation	$ 1,260
Payment commitment period	3 years
Unfunded commitments			$ 22.2
Payments to acquire equity securities		$ 8
Standby Letters of Credit
Other Commitments [Line Items]
Letters of credit outstanding			6.3	$ 6.3
Private Equity Funds
Other Commitments [Line Items]
Unfunded commitments			$ 22.2

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Schedule of Goodwill Activity (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2024 USD ($)
Goodwill [Roll Forward]
Balance at beginning of period	$ 1,842,850
Foreign currency translation	9,449
Balance at end of period	1,852,299
Operating Segments | Software Platform Revenue
Goodwill [Roll Forward]
Balance at beginning of period	1,497,109
Foreign currency translation	9,449
Balance at end of period	1,506,558
Operating Segments | Apps
Goodwill [Roll Forward]
Balance at beginning of period	345,741
Foreign currency translation	0
Balance at end of period	$ 345,741

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Schedule of Intangible Assets Acquired, Net (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Acquired Finite-Lived Intangible Assets [Line Items]
Net Book Value	$ 1,023,643	$ 1,292,635
Long -Lived Intangible Assets
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	2,769,838	2,745,202
Accumulated Amortization	(1,746,195)	(1,452,567)
Net Book Value	$ 1,023,643	1,292,635
Apps | Long -Lived Intangible Assets
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted- Average Remaining Useful Life (Years)	3 years 4 months 24 days
Gross Carrying Value	$ 1,831,339	1,818,907
Accumulated Amortization	(1,355,000)	(1,152,611)
Net Book Value	$ 476,339	666,296
Customer relationships | Long -Lived Intangible Assets
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted- Average Remaining Useful Life (Years)	7 years 6 months
Gross Carrying Value	$ 521,126	519,175
Accumulated Amortization	(150,870)	(111,374)
Net Book Value	$ 370,256	407,801
User base | Long -Lived Intangible Assets
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted- Average Remaining Useful Life (Years)	1 year 6 months
Gross Carrying Value	$ 68,817	68,817
Accumulated Amortization	(54,188)	(46,874)
Net Book Value	$ 14,629	21,943
License asset | Long -Lived Intangible Assets
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted- Average Remaining Useful Life (Years)	1 year 3 months 18 days
Gross Carrying Value	$ 60,707	59,207
Accumulated Amortization	(41,580)	(31,003)
Net Book Value	$ 19,127	28,204
Developed technology | Long -Lived Intangible Assets
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted- Average Remaining Useful Life (Years)	2 years 10 months 24 days
Gross Carrying Value	$ 208,798	207,900
Accumulated Amortization	(114,969)	(88,716)
Net Book Value	$ 93,829	119,184
Other | Long -Lived Intangible Assets
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted- Average Remaining Useful Life (Years)	2 years 9 months 18 days
Gross Carrying Value	$ 79,051	71,196
Accumulated Amortization	(29,588)	(21,989)
Net Book Value	$ 49,463	$ 49,207

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Schedule of Finite-Lived Intangible Assets, Amortization Expenses (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets	$ 90,530	$ 110,227	$ 295,965	$ 338,577
Cost of revenue
Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets	73,679	93,398	245,493	288,180
Sales and marketing
Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets	$ 16,851	$ 16,829	$ 50,472	$ 50,397

Equity (Details)

Equity (Details) - USD ($)	3 Months Ended					9 Months Ended
	Sep. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023	Feb. 29, 2024	Aug. 31, 2023	May 31, 2023	Feb. 28, 2022
Class of Stock [Line Items]
Stock repurchased, value	$ 229,073,000	$ 752,224,000	$ 573,787,000	$ 503,448,000	$ 76,358,000
Class A Common Stock
Class of Stock [Line Items]
Stock repurchase program, authorized amount								$ 1,250,000,000	$ 447,600,000	$ 296,000,000	$ 750,000,000
Repurchases of stock - repurchase program (in shares)						16,081,408	46,665,285
Stock repurchased, value						$ 981,300,000	$ 1,153,600,000
Stock repurchase program, remaining authorized repurchase amount	$ 271,000,000					$ 271,000,000
Shares issued (in shares)	268,791					34,188,592
Class B Common Stock
Class of Stock [Line Items]
Shares converted (in shares)	268,791					34,188,592

Stock-based Compensation - Narr

Stock-based Compensation - Narrative (Details) $ / shares in Units, $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended
	Feb. 29, 2024 USD ($) shares	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($) plan $ / shares shares	Sep. 30, 2023 USD ($)
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Number of equity compensation plans | plan				3
Stock-based compensation | $		$ 81,557	$ 110,839	$ 275,534	$ 275,058
Issuance of common stock under employee stock purchase plan (in shares) | shares				226,066
Wurl Incentive Plan
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Liability settled | $	$ 15,700
Share-based compensation arrangement by share-based payment award, shares issued in period (in shares) | shares	346,836
Common stock available in cash | $	$ 2,100
Performance Based Restricted Stock Units
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Number of PSU's vested (in shares) | shares				13,493,410
Stock-based compensation | $				$ 64,500
Performance Based Restricted Stock Units | Minimum
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Common stock, par or stated value per share (in dollars per share) | $ / shares				$ 46.75
Performance Based Restricted Stock Units | Maximum
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Common stock, par or stated value per share (in dollars per share) | $ / shares				$ 79
Unvested RSUs
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Granted (in shares) | shares				211,977
Restricted stock units granted (in dollars per share) | $ / shares				$ 63.59
Unvested RSUs | Minimum
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Award vesting period				1 year

Stock-based Compensation - Sche

Stock-based Compensation - Schedule of Stock-based Payment Arrangement Expenses (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	$ 81,557	$ 110,839	$ 275,534	$ 275,058
Cost of revenue
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	1,314	1,309	4,104	3,942
Sales and marketing
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	22,203	26,025	67,651	62,121
Research and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	47,940	70,462	169,205	176,337
General and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	$ 10,100	$ 13,043	$ 34,574	$ 32,658

Earnings Per Share - Narrative

Earnings Per Share - Narrative (Details)	Sep. 30, 2024 vote
Class A Common Stock
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Number of votes	1
Class B Common Stock
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Number of votes	20

Earnings Per Share - Schedule o

Earnings Per Share - Schedule of Basic and Diluted Net Income (Loss) Per Share Attributable to Common Stockholders (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
Numerator:
Net income	$ 434,420	$ 309,969	$ 236,183	$ 108,639	$ 80,357	$ (4,518)	$ 980,572	$ 184,478
Income attributable to options exercised by promissory notes	(110)			(442)			(1,169)	(720)
Income attributable to common stock subject to share repurchase agreements	0			(360)			(1,001)	(228)
Income attributable to unvested early exercised options	0			(2)			(2)	(15)
Net income attributable to common stockholders—Basic	$ 434,310			$ 107,835			$ 978,400	$ 183,515
Denominator:
Weighted-average shares used in computing net income per share—Basic (in shares)	336,931,269			341,435,759			336,167,052	357,009,609
Net income per share attributable to common stock—Basic (in dollars per share)	$ 1.29			$ 0.32			$ 2.91	$ 0.51
Numerator:
Net income	$ 434,420	$ 309,969	$ 236,183	$ 108,639	$ 80,357	$ (4,518)	$ 980,572	$ 184,478
Income attributable to options exercised by promissory notes	(106)			(423)			(1,129)	(698)
Income attributable to common stock subject to share repurchase agreements	0			(345)			(967)	(220)
Income attributable to unvested early exercised options	0			(2)			(2)	(15)
Net income attributable to common stockholders—Diluted	$ 434,314			$ 107,869			$ 978,475	$ 183,545
Denominator:
Weighted-average shares used in computing net income per share—Basic (in shares)	336,931,269			341,435,759			336,167,052	357,009,609
Weighted-average dilutive stock awards (in shares)	11,294,194			15,470,463			12,105,565	11,249,904
Weighted-average shares used in computing net income per share—Diluted (in shares)	348,225,463			356,906,222			348,272,617	368,259,513
Net income per share attributable to common stockholders—Diluted (in dollars per share)	$ 1.25			$ 0.30			$ 2.81	$ 0.50

Earnings Per Share - Schedule_2

Earnings Per Share - Schedule of Antidilutive Potential Common Shares (Details) - shares	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive potential common shares (in shares)	117,784	6,766,830
Stock options exercised for promissory notes
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive potential common shares (in shares)	85,000	1,399,999
Early exercised stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive potential common shares (in shares)	0	5,736
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive potential common shares (in shares)	0	613,968
Unvested RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive potential common shares (in shares)	0	4,747,127
ESPP
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive potential common shares (in shares)	32,784	0

Segments - Narrative (Details)

Segments - Narrative (Details)	9 Months Ended
	Sep. 30, 2024 segment
Segment Reporting [Abstract]
Number of operating segments	2
Number of reportable segments	2

Segments - Schedule of Segment

Segments - Schedule of Segment Reporting Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Revenue	$ 1,198,235	$ 864,256	$ 3,336,469	$ 2,329,826
Adjusted EBITDA	721,616	419,291	1,871,581	1,026,503
Interest expense	(75,213)	(78,583)	(224,061)	(204,081)
Amortization, depreciation and write-offs			(320,843)	(369,897)
Stock-based compensation	(81,557)	(110,839)	(275,534)	(275,058)
Income before income taxes	467,669	109,225	1,060,881	201,674
Segment Reconciling Items
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Interest expense	(75,213)	(78,583)	(224,061)	(204,081)
Other income, net	4,500	771	17,138	26,359
Amortization, depreciation and write-offs	(99,635)	(121,797)	(320,843)	(369,897)
Loss on disposal of long-lived assets	0	0	(1,646)	0
Non-operating foreign exchange gain	935	613	1,159	1,159
Stock-based compensation	(81,557)	(110,839)	(275,534)	(275,058)
Transaction-related expense	(26)	(231)	(880)	(995)
Restructuring costs	(2,951)	0	(6,033)	(2,316)
Software Platform Revenue | Operating Segments
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Revenue	835,186	504,452	2,224,571	1,265,273
Adjusted EBITDA	653,396	364,117	1,665,898	855,697
Apps
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Revenue	363,049	359,804	1,111,898	1,064,553
Apps | Operating Segments
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Revenue	363,049	359,804	1,111,898	1,064,553
Adjusted EBITDA	$ 68,220	$ 55,174	$ 205,683	$ 170,806

Credit Agreement (Details)

Credit Agreement (Details) - USD ($) $ in Millions	1 Months Ended	2 Months Ended	9 Months Ended
	Mar. 31, 2024	Feb. 29, 2024	Sep. 30, 2024
KKR Denali Holdings L P
Line of Credit Facility [Line Items]
Percentage of voting interests	0.10
Line of Credit
Line of Credit Facility [Line Items]
Debt modification costs			$ 6.2
Secured Debt | Line of Credit
Line of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate	2.50%	3.10%
Secured Debt | Line of Credit | Base Rate
Line of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate	1.50%	2%
Secured Debt | 2030 Term Loans | Line of Credit
Line of Credit Facility [Line Items]
Aggregate amount	$ 2,090
Secured Debt | 2028 Term Loans | Line of Credit
Line of Credit Facility [Line Items]
Aggregate amount	1,460
Revolving Credit Facility | KKR Corporate Lending (CA) LLC
Line of Credit Facility [Line Items]
Revolving credit commitments	15
Revolving Credit Facility | Line of Credit
Line of Credit Facility [Line Items]
Amount drawn	418.7
Repayment of revolving credit facility	$ 603.7

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ / shares in Units, $ in Millions						3 Months Ended	9 Months Ended
	Mar. 08, 2024	Mar. 06, 2024	Feb. 29, 2024	Aug. 07, 2020	Mar. 08, 2019	Sep. 30, 2024	Sep. 30, 2024	Sep. 30, 2023
Class A Common Stock
Related Party Transaction [Line Items]
Repurchases of stock - repurchase program (in shares)							16,081,408	46,665,285
Shares issued (in shares)						268,791	34,188,592
Class B Common Stock
Related Party Transaction [Line Items]
Shares converted (in shares)						268,791	34,188,592
Related Party
Related Party Transaction [Line Items]
Related party note					$ 2.3
Interest rate, related party debt				0.41%	2.59%
Repayment of related party note	$ 2.3
Related Party | Class A Common Stock
Related Party Transaction [Line Items]
Repurchases of stock - repurchase program (in shares)		10,466,397
Repurchased shares (in dollar per share)		$ 54.46
Shares issued (in shares)			16,000,000
Related Party | Class B Common Stock
Related Party Transaction [Line Items]
Shares converted (in shares)			16,000,000
Secondary Offering
Related Party Transaction [Line Items]
Number of shares issued in transaction (in shares)			19,866,397

Subsequent Events - Narrative (

Subsequent Events - Narrative (Details) - USD ($)	Oct. 31, 2024	Feb. 29, 2024	Aug. 31, 2023	May 31, 2023	Feb. 28, 2022
Class A Common Stock
Subsequent Event [Line Items]
Stock repurchase program, authorized amount		$ 1,250,000,000	$ 447,600,000	$ 296,000,000	$ 750,000,000
Subsequent Event
Subsequent Event [Line Items]
Stock repurchase program, authorized amount	$ 2,000,000,000
Subsequent Event | Class A Common Stock
Subsequent Event [Line Items]
Stock repurchase program, authorized amount	$ 2,300,000,000