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PATH • CIK 0001734722
| (in thousands, except per share data) | FY 2024 | FY 2025 | FY 2026 | TTM |
|---|---|---|---|---|
| Gross Profit | $1,112,148 | $1,182,722 | $1,339,588 | $1,420,596 |
| Operating Income (Loss) | $-164,720 | $-162,569 | $56,760 | $152,948 |
| Investment Income, Interest | $57,130 | $49,422 | $48,023 | $44,541 |
| Other Nonoperating Income (Expense) | $31,775 | $35,047 | $-4,155 | $13,363 |
| Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | $-75,815 | $-78,100 | $100,628 | $210,852 |
| Income Tax Expense (Benefit) | $14,068 | $-4,406 | $-181,702 | $-151,063 |
| Net Income (Loss) Attributable to Parent | $-89,883 | $-73,694 | $282,330 | $361,915 |
| Weighted Average Number of Shares Outstanding, Basic | 563,855,000 | 559,933,000 | 538,125,000 | 517,503,000 |
| Weighted Average Number of Shares Outstanding, Diluted | 563,855,000 | 559,933,000 | 544,860,000 | 528,027,000 |
| Revenue from Contract with Customer, Excluding Assessed Tax | $1,308,072 | $1,429,664 | $1,610,572 | $1,720,858 |
| Cost of Revenue | $195,924 | $246,942 | $270,984 | $300,262 |
| Selling and Marketing Expense | $713,130 | $738,493 | $683,329 | $689,830 |
| Research and Development Expense | $332,101 | $380,682 | $385,208 | $368,323 |
| General and Administrative Expense | $231,637 | $226,116 | $214,291 | $209,495 |
| Operating Expenses | $1,276,868 | $1,345,291 | $1,282,828 | $1,267,648 |
| (in thousands, except per share data) | FY 2024 | FY 2025 | FY 2026 | TTM |
|---|---|---|---|---|
| Marketable Securities, Noncurrent | $0 | $94,113 | $216,990 | $121,035 |
| Contract with Customer, Asset, after Allowance for Credit Loss, Noncurrent | $6,214 | $3,447 | $1,946 | $4,832 |
| Capitalized Contract Cost, Net, Noncurrent | $154,317 | $139,341 | $153,708 | $165,022 |
| Property, Plant and Equipment, Net | $23,982 | $32,740 | $46,014 | $46,436 |
| Operating Lease, Right-of-Use Asset | $56,072 | $66,500 | $64,472 | $63,470 |
| Intangible Assets, Net (Excluding Goodwill) | $14,704 | $7,905 | $19,989 | $101,479 |
| Goodwill | $89,026 | $87,304 | $125,310 | $179,481 |
| Deferred Income Tax Assets, Net | $4,678 | $27,963 | $233,401 | $230,087 |
| Other Assets, Noncurrent | $25,353 | $67,398 | $73,425 | $68,895 |
| Assets | $2,954,758 | $2,865,270 | $3,179,200 | $2,907,367 |
| Contract with Customer, Liability, Noncurrent | $161,027 | $135,843 | $103,568 | $71,722 |
| Operating Lease, Liability, Noncurrent | $58,713 | $74,230 | $70,940 | $69,438 |
| Other Liabilities, Noncurrent | $7,213 | $10,515 | $16,682 | $10,398 |
| Liabilities | $938,644 | $1,019,508 | $1,096,613 | $958,816 |
| Cash and Cash Equivalents, at Carrying Value | $1,061,678 | $879,196 | $871,157 | $607,414 |
| Restricted Cash, Current | $438 | $438 | $438 | $1,475 |
| Marketable Securities, Current | $818,145 | $750,322 | $601,329 | $676,576 |
| Accounts Receivable, after Allowance for Credit Loss, Current | $436,296 | $451,131 | $488,265 | $307,112 |
| Contract with Customer, Asset, after Allowance for Credit Loss, Current | $84,197 | $88,735 | $92,440 | $135,222 |
| Capitalized Contract Cost, Net, Current | $74,678 | $82,461 | $84,739 | $86,526 |
| Prepaid Expense and Other Assets, Current | $104,980 | $86,276 | $105,577 | $112,305 |
| Assets, Current | $2,580,412 | $2,338,559 | $2,243,945 | $1,926,630 |
| Accounts Payable, Current | $3,447 | $33,178 | $10,161 | $16,848 |
| Employee-related Liabilities, Current | $3,888 | $112,355 | $121,029 | $89,853 |
| Contract with Customer, Liability, Current | $486,805 | $569,464 | $603,737 | $543,627 |
| Liabilities, Current | $711,691 | $798,920 | $905,423 | $807,258 |
| Preferred Stock, Value, Issued | $0 | $0 | $0 | $0 |
| Treasury Stock, Common, Value | $102,615 | $494,779 | $833,905 | $1,092,834 |
| Additional Paid in Capital, Common Stock | $4,024,079 | $4,333,300 | $4,585,430 | $4,673,653 |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | $8,825 | $-4,890 | $36,601 | $14,657 |
| Retained Earnings (Accumulated Deficit) | $-1,914,181 | $-1,987,875 | $-1,705,545 | $-1,646,931 |
| Stockholders' Equity Attributable to Parent | $2,016,114 | $1,845,762 | $2,082,587 | $1,948,551 |
| Accounts Receivable, Allowance for Credit Loss, Current | $1,119 | $1,642 | $5,222 | $6,400 |
| Preferred Stock, Shares Authorized | 20,000,000 | 20,000,000 | 20,000,000 | 20,000,000 |
| Preferred Stock, Shares Issued | 0 | 0 | 0 | 0 |
| Treasury Stock, Common, Shares | 5,840,000 | 37,621,000 | 68,552,000 | 91,351,000 |
| Operating Lease, Liability, Current | $8,357 | $3,587 | $10,306 | $10,322 |
| Operating Lease, Liability | $67,070 | $77,817 | $81,246 | $79,760 |
| Other Assets, Current | $17,199 | $20,942 | $50,245 | $61,112 |
| Property, Plant and Equipment, Gross | $57,355 | $72,400 | $91,901 | $94,798 |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $33,373 | $39,660 | $45,887 | $48,362 |
| Depreciation | $11,100 | $8,100 | $5,800 | $4,400 |
| Equity Securities without Readily Determinable Fair Value, Amount | — | $24,400 | $27,700 | $26,900 |
| Other Long-term Investments | — | $11,900 | $14,200 | $14,100 |
| Other Accrued Liabilities, Current | — | $19,810 | $35,657 | $33,540 |
| Accrued Professional Fees, Current | — | — | $6,430 | $2,907 |
| Accrued Income Taxes, Current | $7,140 | $1,632 | $14,784 | $9,777 |
| Sales and Excise Tax Payable, Current | $6,480 | $3,640 | $15,113 | $6,682 |
| Business Combination, Contingent Consideration, Liability, Current | $5,570 | — | $1,532 | $30,392 |
| Other Liabilities, Current | $19,920 | $18,963 | $35,881 | $24,445 |
| (in thousands, except per share data) | FY 2024 | FY 2025 | FY 2026 | TTM |
|---|---|---|---|---|
| Net Income (Loss) Attributable to Parent | $-89,883 | $-73,694 | $282,330 | $361,915 |
| Net Cash Provided by (Used in) Operating Activities | $299,082 | $320,565 | $371,208 | $373,246 |
| Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations | $-2,621 | $-7,029 | $15,594 | $-10,266 |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | $-340,003 | $-182,482 | $-8,039 | $-20,166 |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $1,062,116 | $879,634 | $871,595 | $804,186 |
| Depreciation, Depletion and Amortization, Nonproduction | $22,597 | $17,232 | $16,969 | $26,000 |
| Payments to Acquire Debt Securities, Available-for-sale | $1,485,965 | $1,470,355 | $772,491 | $781,873 |
| Capitalized Contract Cost, Amortization | $75,471 | $92,089 | $109,362 | $117,390 |
| Proceeds from Maturities, Prepayments and Calls of Debt Securities, Available-for-sale | $1,050,984 | $1,475,584 | $809,247 | $881,346 |
| Accretion (Amortization) of Discounts and Premiums, Investments | $28,246 | $31,778 | $10,236 | $4,207 |
| Payments to Acquire Property, Plant, and Equipment | $7,342 | $14,923 | $19,048 | $10,289 |
| Share-based Payment Arrangement, Noncash Expense | $371,955 | $358,151 | $290,676 | $234,581 |
| Payments to Acquire Businesses, Net of Cash Acquired | $0 | $0 | $24,821 | $149,403 |
| Noncash Contribution Expense | $4,215 | $6,564 | $4,187 | $3,015 |
| Payments for (Proceeds from) Other Investing Activities | $-2,754 | $0 | $15,353 | $10,234 |
| Operating Lease, Right-of-Use Asset, Amortization Expense | $13,047 | $15,899 | $16,976 | $16,946 |
| Net Cash Provided by (Used in) Investing Activities | $-439,569 | $-45,503 | $-22,466 | $-70,453 |
| Deferred Income Tax Expense (Benefit) | $554 | $-19,794 | $-202,682 | $-174,393 |
| Accounts Receivable, Credit Loss Expense (Reversal) | $-1,600 | $2,000 | $5,735 | $5,735 |
| Other Noncash Income (Expense) | $3,700 | $2,332 | $-7,098 | $3,221 |
| Payments for Repurchase of Common Stock | $102,615 | $390,751 | $329,101 | $268,548 |
| Proceeds from Stock Options Exercised | $6,740 | $8,032 | $1,056 | $1,224 |
| Payment, Tax Withholding, Share-based Payment Arrangement | $112,067 | $77,930 | $59,061 | $55,936 |
| Proceeds from Stock Plans | $17,555 | $15,605 | $14,859 | $14,149 |
| Net Cash Provided by (Used in) Financing Activities | $-196,895 | $-450,515 | $-372,375 | $-312,693 |
| Interest Paid, Excluding Capitalized Interest, Operating Activities | $563 | $309 | $0 | $0 |
| Income Taxes Paid, Net | $10,822 | $16,709 | $9,812 | $12,894 |
| Business Combination, Consideration Transferred, Liabilities Incurred | $0 | $0 | $9,835 | $29,567 |
| Capital Expenditures Incurred but Not yet Paid | $511 | $2,897 | $58 | $56 |
| Increase (Decrease) in Accounts Receivable | $64,217 | $22,173 | $25,802 | $36,997 |
| Increase (Decrease) in Contract with Customer, Asset | $14,694 | $3,991 | $-3,208 | $13,558 |
| Increase (Decrease) in Prepaid Expense and Other Assets | $-4,222 | $-7,065 | $3,933 | $-5,053 |
| Increase (Decrease) in Accounts Payable | $-5,052 | $27,856 | $-21,675 | $-3,112 |
| Increase (Decrease) in Accrued Liabilities and Other Operating Liabilities | $11,804 | $9,235 | $46,697 | $-26,061 |
| Increase (Decrease) in Employee Related Liabilities | $-4,039 | $-23,428 | $2,583 | $21,948 |
| IncreaseDecreaseInOperatingLeaseLiability | $-13,590 | $-15,527 | $-11,652 | $-14,340 |
| Increase (Decrease) in Deferred Revenue | $137,471 | $68,348 | $-22,431 | $1,165 |