GODADDY INC., 10-Q filed on 10/31/2025
Quarterly Report
v3.25.3
Cover - shares
 9 Months Ended
Sep. 30, 2025
Oct. 24, 2025
Cover [Abstract]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Sep. 30, 2025  
Document Transition Report false  
Entity File Number 001-36904  
Entity Registrant Name GoDaddy Inc.  
Entity Incorporation, State or Country Code DE  
Entity Tax Identification Number 46-5769934  
Entity Address, Address Line One 100 S. Mill Ave, Suite 1600  
Entity Address, City or Town Tempe  
Entity Address, State or Province AZ  
Entity Address, Postal Zip Code 85281  
City Area Code 480  
Local Phone Number 505-8800  
Title of 12(b) Security Class A Common Stock, $0.001 par value per share  
Trading Symbol GDDY  
Security Exchange Name NYSE  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   135,141,594
Entity Central Index Key 0001609711  
Current Fiscal Year End Date --12-31  
Document Fiscal Year Focus 2025  
Document Fiscal Period Focus Q3  
Amendment Flag false  
v3.25.3
Consolidated Balance Sheets (unaudited) - USD ($)
$ in Millions
Sep. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 923.7 $ 1,089.0
Accounts and other receivables 108.8 91.1
Registry deposits 39.7 34.5
Prepaid domain name registry fees 520.6 492.0
Prepaid expenses and other current assets 139.7 245.2
Total current assets 1,732.5 1,951.8
Property and equipment, net 146.6 156.4
Operating lease assets 44.2 49.4
Prepaid domain name registry fees, net of current portion 240.3 224.8
Goodwill 3,631.5 3,518.9
Intangible assets, net 1,003.7 1,055.8
Deferred tax assets 1,092.0 1,181.5
Other assets 93.9 96.8
Total assets 7,984.7 8,235.4
Current liabilities:    
Accounts payable 73.5 81.6
Accrued expenses and other current liabilities 535.7 378.6
Deferred revenue 2,418.6 2,222.3
Long-term debt, current portion 15.5 15.9
Total current liabilities 3,043.3 2,698.4
Deferred revenue, net of current portion 944.9 883.2
Long-term debt, net of current portion 3,768.9 3,779.1
Operating lease liabilities, net of current portion 65.2 76.7
Other long-term liabilities 57.8 85.7
Deferred tax liabilities 12.8 20.2
Commitments and contingencies
Stockholders' equity:    
Preferred stock, $0.001 par value 0.0 0.0
Class A common stock, $0.001 par value 0.1 0.1
Additional paid-in capital 2,880.3 2,611.8
Accumulated deficit (2,823.9) (2,052.3)
Accumulated other comprehensive income 35.3 132.5
Total stockholders' equity 91.8 692.1
Total liabilities and stockholders' equity $ 7,984.7 $ 8,235.4
v3.25.3
Consolidated Balance Sheets (unaudited) (Parenthetical) - $ / shares
shares in Thousands
Sep. 30, 2025
Dec. 31, 2024
Statement of Financial Position [Abstract]    
Preferred stock, par value (in dollars per share) $ 0.001 $ 0.001
Preferred stock, shares authorized (in shares) 50,000 50,000
Preferred stock, shares issued (in shares) 0 0
Preferred stock, shares outstanding (in shares) 0 0
Common stock, par value (in dollars per share) $ 0.001 $ 0.001
Common stock, shares authorized (in shares) 1,000,000 1,000,000
Common stock, shares issued (in shares) 135,477 141,208
Common stock, shares outstanding (in shares) 135,477 141,208
v3.25.3
Consolidated Statements of Operations (unaudited) - USD ($)
shares in Thousands, $ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Revenue:        
Total revenue $ 1,265.3 $ 1,147.6 $ 3,677.2 $ 3,380.6
Costs and operating expenses        
Cost of revenue (excluding depreciation and amortization) [1] 468.3 407.4 1,351.1 1,230.2
Technology and development [1] 210.5 205.1 630.1 613.9
Marketing and advertising [1] 92.0 84.4 285.5 265.1
Customer care [1] 72.6 68.9 217.2 218.6
General and administrative [1] 91.3 94.8 285.3 282.1
Restructuring and other [1] 5.5 0.4 7.9 29.7
Depreciation and amortization [1] 28.4 32.8 89.8 103.1
Total costs and operating expenses [1] 968.6 893.8 2,866.9 2,742.7
Operating income 296.7 253.8 810.3 637.9
Interest expense (38.3) (39.4) (113.8) (120.2)
Loss on debt extinguishment 0.0 0.0 0.0 (3.1)
Other income (expense), net 8.6 6.6 29.6 24.5
Income before income taxes 267.0 221.0 726.1 539.1
Benefit (provision) for income taxes (56.5) (30.5) (96.2) 199.2
Net income $ 210.5 $ 190.5 $ 629.9 $ 738.3
Net income per share of Class A common stock:        
Basic (in dollars per share) $ 1.53 $ 1.36 $ 4.53 $ 5.22
Diluted (in dollars per share) $ 1.51 $ 1.32 $ 4.44 $ 5.09
Weighted-average shares of Class A common stock outstanding:        
Basic (in shares) 137,159 140,523 139,176 141,437
Diluted (in shares) 139,073 144,138 142,007 145,179
Applications and commerce        
Revenue:        
Total revenue $ 481.0 $ 423.1 $ 1,391.3 $ 1,211.8
Core platform        
Revenue:        
Total revenue $ 784.3 $ 724.5 $ 2,285.9 $ 2,168.8
[1]
Costs and operating expenses include equity-based compensation expense as follows:
Cost of revenue0.3 0.3 0.9 0.6 
Technology and development42.5 38.6 127.0 115.4 
Marketing and advertising8.3 7.7 25.0 22.9 
Customer care5.4 4.9 16.2 16.4 
General and administrative23.1 22.9 71.9 66.3 
Restructuring and other— — — 0.8 
Total equity-based compensation expense$79.6 $74.4 $241.0 $222.4 
v3.25.3
Consolidated Statements of Operations (unaudited) (Parenthetical) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Total equity-based compensation expense $ 79.6 $ 74.4 $ 241.0 $ 222.4
Cost of revenue        
Total equity-based compensation expense 0.3 0.3 0.9 0.6
Technology and development        
Total equity-based compensation expense 42.5 38.6 127.0 115.4
Marketing and advertising        
Total equity-based compensation expense 8.3 7.7 25.0 22.9
Customer care        
Total equity-based compensation expense 5.4 4.9 16.2 16.4
General and administrative        
Total equity-based compensation expense 23.1 22.9 71.9 66.3
Restructuring and other        
Total equity-based compensation expense $ 0.0 $ 0.0 $ 0.0 $ 0.8
v3.25.3
Consolidated Statements of Comprehensive Income (unaudited) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Net income $ 210.5 $ 190.5 $ 629.9 $ 738.3
Change in foreign currency translation adjustment (4.1) 6.6 (35.2) 16.7
Comprehensive income 210.1 144.9 532.7 717.1
Foreign exchange forward contracts gain (loss), net        
Other comprehensive gain (loss), net [1] 11.6 (21.0) (44.5) (10.5)
Unrealized swap gain (loss), net        
Other comprehensive gain (loss), net [1] $ (7.9) $ (31.2) $ (17.5) $ (27.4)
[1]
Components of OCI are net of the tax effects reflected below:

Three Months Ended
September 30,
Nine Months Ended
September 30,
2025202420242023
Foreign exchange forward contracts gain (loss), net$3.4 $— $(13.5)$— 
Unrealized swap gain (loss), net$(1.0)$(22.9)$(30.1)$(13.2)
v3.25.3
Consolidated Statements of Comprehensive Income (unaudited) (Parenthetical) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Foreign exchange forward contracts gain (loss), net        
Other comprehensive gain (loss), net $ 3.4 $ 0.0 $ (13.5) $ 0.0
Unrealized swap gain (loss), net        
Other comprehensive gain (loss), net $ (1.0) $ (22.9) $ (30.1) $ (13.2)
v3.25.3
Consolidated Statements of Stockholders' Equity (Deficit) (unaudited) - USD ($)
shares in Thousands, $ in Millions
Total
Class A Common Stock
Additional Paid-in Capital
Accumulated Deficit
Accumulated Other Comprehensive Income
Beginning balance (in shares) at Dec. 31, 2023   142,051      
Beginning balance at Dec. 31, 2023 $ 62.2 $ 0.1 $ 2,271.6 $ (2,320.7) $ 111.2
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net income 401.5     401.5  
Equity-based compensation, including amounts capitalized 72.3   72.3    
Repurchases of Class A common stock (in shares) [1]   (1,245)      
Repurchases of Class A common stock [1] (147.1)     (147.1)  
Impact of derivatives, net 19.8       19.8
Change in foreign currency translation adjustment 3.8       3.8
Vesting of restricted stock units and other (in shares)   1,623      
Vesting of restricted stock units and other 2.3   2.0 0.1 0.2
Ending balance (in shares) at Mar. 31, 2024   142,429      
Ending balance at Mar. 31, 2024 414.8 $ 0.1 2,345.9 (2,066.2) 135.0
Beginning balance (in shares) at Dec. 31, 2023   142,051      
Beginning balance at Dec. 31, 2023 62.2 $ 0.1 2,271.6 (2,320.7) 111.2
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net income 738.3        
Ending balance (in shares) at Sep. 30, 2024   140,349      
Ending balance at Sep. 30, 2024 356.7 $ 0.1 2,519.0 (2,252.6) 90.2
Beginning balance (in shares) at Mar. 31, 2024   142,429      
Beginning balance at Mar. 31, 2024 414.8 $ 0.1 2,345.9 (2,066.2) 135.0
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net income 146.3     146.3  
Equity-based compensation, including amounts capitalized 76.8   76.8    
Repurchases of Class A common stock (in shares) [1]   (2,058)      
Repurchases of Class A common stock [1] (502.8)     (502.8)  
Issuance of Class A common stock under employee stock purchase plan (in shares)   249      
Issuance of Class A common stock under employee stock purchase plan 19.5   19.5    
Impact of derivatives, net (5.5)       (5.5)
Change in foreign currency translation adjustment 6.3       6.3
Vesting of restricted stock units and other (in shares)   835      
Vesting of restricted stock units and other 1.6   1.7 (0.1)  
Ending balance (in shares) at Jun. 30, 2024   141,455      
Ending balance at Jun. 30, 2024 157.0 $ 0.1 2,443.9 (2,422.8) 135.8
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net income 190.5     190.5  
Equity-based compensation, including amounts capitalized 74.9   74.9    
Repurchases of Class A common stock (in shares) [1]   (1,876)      
Repurchases of Class A common stock [1] (20.3)     (20.3)  
Impact of derivatives, net (52.2)       (52.2)
Change in foreign currency translation adjustment 6.6       6.6
Vesting of restricted stock units and other (in shares)   770      
Vesting of restricted stock units and other 0.2   0.2 0.0  
Ending balance (in shares) at Sep. 30, 2024   140,349      
Ending balance at Sep. 30, 2024 $ 356.7 $ 0.1 2,519.0 (2,252.6) 90.2
Beginning balance (in shares) at Dec. 31, 2024 141,208 141,208      
Beginning balance at Dec. 31, 2024 $ 692.1 $ 0.1 2,611.8 (2,052.3) 132.5
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net income 219.5     219.5  
Equity-based compensation, including amounts capitalized 80.9   80.9    
Repurchases of Class A common stock [2] (765.1)     (765.1)  
Impact of derivatives, net (25.1)       (25.1)
Change in foreign currency translation adjustment (4.8)       (4.8)
Vesting of restricted stock units and other (in shares)   1,223      
Vesting of restricted stock units and other 2.2   2.3 (0.1)  
Ending balance (in shares) at Mar. 31, 2025   142,431      
Ending balance at Mar. 31, 2025 $ 199.7 $ 0.1 2,695.0 (2,598.0) 102.6
Beginning balance (in shares) at Dec. 31, 2024 141,208 141,208      
Beginning balance at Dec. 31, 2024 $ 692.1 $ 0.1 2,611.8 (2,052.3) 132.5
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net income $ 629.9        
Ending balance (in shares) at Sep. 30, 2025 135,477 135,477      
Ending balance at Sep. 30, 2025 $ 91.8 $ 0.1 2,880.3 (2,823.9) 35.3
Beginning balance (in shares) at Mar. 31, 2025   142,431      
Beginning balance at Mar. 31, 2025 199.7 $ 0.1 2,695.0 (2,598.0) 102.6
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net income 199.9     199.9  
Equity-based compensation, including amounts capitalized 81.6   81.6    
Repurchases of Class A common stock (in shares) [2]   (4,510)      
Repurchases of Class A common stock [2] (33.2)     (33.2)  
Issuance of Class A common stock under employee stock purchase plan (in shares)   124      
Issuance of Class A common stock under employee stock purchase plan 19.2   19.2    
Impact of derivatives, net (40.6)       (40.6)
Change in foreign currency translation adjustment (26.3)       (26.3)
Vesting of restricted stock units and other (in shares)   818      
Vesting of restricted stock units and other 4.1   4.0 0.1  
Ending balance (in shares) at Jun. 30, 2025   138,863      
Ending balance at Jun. 30, 2025 404.4 $ 0.1 2,799.8 (2,431.2) 35.7
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net income 210.5     210.5  
Equity-based compensation, including amounts capitalized 80.2   80.2    
Repurchases of Class A common stock (in shares) [2]   (4,087)      
Repurchases of Class A common stock [2] (603.2)     (603.2)  
Impact of derivatives, net 3.7       3.7
Change in foreign currency translation adjustment (4.1)       (4.1)
Vesting of restricted stock units and other (in shares)   701      
Vesting of restricted stock units and other $ 0.3   0.3   0.0
Ending balance (in shares) at Sep. 30, 2025 135,477 135,477      
Ending balance at Sep. 30, 2025 $ 91.8 $ 0.1 $ 2,880.3 $ (2,823.9) $ 35.3
[1] Includes a 1% excise tax on shares repurchased, net of the fair market value of new share issuances, of $1.4 million, $1.3 million, and $(0.5) million for the three months ended September 30, 2024, June 30, 2024, and March 31, 2024, respectively.
[2] Includes a 1% excise tax on shares repurchased, net of the fair market value of new share issuances, of $4.9 million, $6.3 million, and $(2.3) million for the three months ended September 30, 2025, June 30, 2025, and March 31, 2025, respectively.
v3.25.3
Consolidated Statements of Stockholders' Equity (Deficit) (unaudited) (Parenthetical) - USD ($)
$ in Millions
 3 Months Ended
Sep. 30, 2025
Jun. 30, 2025
Mar. 31, 2025
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Statement of Stockholders' Equity [Abstract]            
Fair market value of new share issuances $ 4.9 $ 6.3 $ (2.3) $ 1.4 $ 1.3 $ (0.5)
v3.25.3
Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Operating activities    
Net income $ 629.9 $ 738.3
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization [1] 89.8 103.1
Equity-based compensation expense 241.0 222.4
(Gain) loss on derivative instruments 38.8 6.7
Deferred taxes 80.4 (213.7)
Other 28.6 31.6
Changes in operating assets and liabilities:    
Prepaid domain name registry fees (42.6) (40.3)
Accounts payable (8.5) (73.9)
Deferred revenue 251.3 262.3
Other operating assets and liabilities (79.9) (89.3)
Net cash provided by operating activities 1,228.8 947.2
Investing activities    
Maturities of short-term investments 0.0 40.0
Purchases of property and equipment (17.0) (12.2)
Other investing activities (2.2) 8.1
Net cash provided by (used in) investing activities (19.2) 35.9
Proceeds received from:    
Issuance of term loans 0.0 2,752.3
Issuance of Class A common stock under employee stock purchase plan 19.2 19.5
Payments made for:    
Repurchases of Class A common stock (1,383.0) (668.1)
Repayment of long-term debt (18.5) (2,768.4)
Other financing activities 2.9 (11.2)
Net cash used in financing activities (1,379.4) (675.9)
Effect of exchange rate changes on cash and cash equivalents 4.5 1.1
Net increase (decrease) in cash and cash equivalents (165.3) 308.3
Cash and cash equivalents, beginning of period 1,089.0 458.8
Cash and cash equivalents, end of period 923.7 767.1
Cash paid during the period for:    
Interest on long-term debt, including impact of interest rate swaps 103.6 113.2
Income taxes, net of refunds received 12.8 16.8
Amounts included in the measurement of operating lease liabilities 26.3 29.9
Supplemental disclosure of non-cash transactions    
Operating lease assets obtained in exchange for operating lease liabilities 1.8 11.5
Share repurchases not yet settled $ 9.6 $ 0.0
[1]
Costs and operating expenses include equity-based compensation expense as follows:
Cost of revenue0.3 0.3 0.9 0.6 
Technology and development42.5 38.6 127.0 115.4 
Marketing and advertising8.3 7.7 25.0 22.9 
Customer care5.4 4.9 16.2 16.4 
General and administrative23.1 22.9 71.9 66.3 
Restructuring and other— — — 0.8 
Total equity-based compensation expense$79.6 $74.4 $241.0 $222.4 
v3.25.3
Organization and Background
 9 Months Ended
Sep. 30, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Organization and Background Organization and Background
Organization
GoDaddy was incorporated as a Delaware corporation on May 28, 2014. GoDaddy helps millions of entrepreneurs globally start, grow and scale their businesses. People come to GoDaddy to name their idea, build a website and logo, sell their products and services and accept payments. GoDaddy Airo®, the company's AI-powered experience, makes growing a small business faster and easier by helping them to get their idea online in minutes, drive traffic and boost sales. GoDaddy's expert guides are available 24/7 to provide assistance.
Basis of Presentation
Our financial statements have been prepared in accordance with generally accepted accounting principles in the United States (GAAP) and include our accounts and the accounts of our subsidiaries. All material intercompany accounts and transactions have been eliminated.
Our interim financial statements are unaudited and, in our opinion, include all adjustments of a normal recurring nature necessary for the fair presentation of the periods presented. The results for interim periods are not necessarily indicative of the results to be expected for any subsequent period or for the year ending December 31, 2025.
These financial statements should be read in conjunction with our audited financial statements and related notes included in our Annual Report on Form 10-K for the year ended December 31, 2024 (the 2024 Form 10-K).
Prior Period Reclassifications
Certain prior period amounts have been reclassified to conform to the current period presentation. These amounts were not material to any period presented.
Use of Estimates
GAAP requires us to make estimates and assumptions affecting amounts reported in our financial statements. We periodically evaluate our estimates and adjust prospectively, if necessary. We believe our estimates and assumptions are reasonable; however, actual results may differ.
Segments
We report our operating results through two reportable segments: Applications and Commerce (A&C) and Core Platform (Core), as further discussed in Note 16.
v3.25.3
Summary of Significant Accounting Policies
 9 Months Ended
Sep. 30, 2025
Accounting Policies [Abstract]  
Summary of Significant Accounting Policies Summary of Significant Accounting Policies
Property and Equipment
Property and equipment, net by geography was as follows:
September 30, 2025December 31, 2024
U.S.$128.2 $133.1 
All other international18.4 23.3 
$146.6 $156.4 
No single international country represented more than 10% of property and equipment, net in any period presented.
Equity Investments
We hold investments in privately held equity securities, which are recorded in other assets, with a carrying value of $58.0 million and $53.1 million as of September 30, 2025 and December 31, 2024, respectively.
Revenue Recognition
Disaggregated Revenue
Revenue by major product type was as follows:
Three Months Ended
 September 30,		Nine Months Ended September 30,
2025202420252024
A&C$481.0 $423.1 $1,391.3 $1,211.8 
Core: domains595.9 535.9 1,724.0 1,597.1 
Core: other188.4 188.6 561.9 571.7 
$1,265.3 $1,147.6 $3,677.2 $3,380.6 
No single customer represented over 10% of our total revenue for any period presented.
Revenue by geography is based on the customer's billing address and was as follows:
 Three Months Ended September 30,Nine Months Ended September 30,
 2025202420252024
U.S.$842.8 $778.2 $2,470.0 $2,301.2 
International422.5 369.4 1,207.2 1,079.4 
$1,265.3 $1,147.6 $3,677.2 $3,380.6 
No international country represented more than 10% of total revenue in any period presented.
See Note 7 for information regarding our deferred revenue.
Assets Recognized from Contract Costs
Costs to fulfill our customer contracts primarily relate to fees paid to various registries at the inception of a domain registration or renewal. We capitalize and recognize these prepaid domain name registry fees as cost of revenue consistent with the pattern of transfer of the product to which the asset relates. Such expense was $214.9 million and $200.3 million for the three months ended September 30, 2025 and 2024, respectively, and was $624.9 million and $589.9 million for the nine months ended September 30, 2025 and 2024, respectively.
We have no other material capitalized contract costs.
Restructuring and Other
Restructuring and other primarily represents charges related to restructuring activities undertaken to reduce future operating expenses and improve cash flows through reductions in force. See Note 13 for further discussion.
Fair Value Measurements
Fair value is defined as an exit price, representing the amount that would be received to sell an asset, or paid to transfer a liability, in an orderly transaction between market participants. The framework for measuring fair value provides a three-tier hierarchy prioritizing inputs to valuation techniques used in measuring fair value as follows:
Level 1— Observable inputs such as quoted prices for identical assets or liabilities in active markets;
Level 2— Inputs, other than quoted prices for identical assets or liabilities in active markets, which are observable either directly or indirectly; and
Level 3— Unobservable inputs in which there is little or no market data requiring the reporting entity to develop its own assumptions.
We hold certain assets and liabilities required to be measured at fair value on a recurring basis. These include time deposits and notice deposits, which we classify within Level 1 because we use quoted market prices to determine their fair value. Level 2 assets and liabilities include commercial paper and derivative financial instruments associated with hedging activity, as further discussed in Note 10. Derivative financial instruments are measured at fair value on the contract date and are subsequently remeasured each reporting period using inputs such as spot rates, discount rates and forward rates. There are no active markets for the commercial paper or hedge contracts themselves; however, the inputs used to calculate the fair value of the instruments are tied to active markets.
The following tables set forth our material assets and liabilities measured and recorded at fair value on a recurring basis:
September 30, 2025
Level 1Level 2Level 3Total
Assets:
Cash and cash equivalents:
Notice deposits$225.0 $— $— $225.0 
Time deposits135.0 — — 135.0 
Commercial paper— 29.9 — 29.9 
Derivative assets— 59.3 — 59.3 
Total assets$360.0 $89.2 $— $449.2 
Liabilities:
 Derivative liabilities$— $138.2 $— $138.2 
December 31, 2024
Level 1Level 2Level 3Total
Assets:
Cash and cash equivalents:
Time deposits$144.9 $— $— $144.9 
Notice deposits140.0 — — 140.0 
Commercial paper— 134.5 — 134.5 
Derivative assets— 172.7 — 172.7 
Total assets$284.9 $307.2 $— $592.1 
We have no other material assets or liabilities measured at fair value on a recurring basis.
Recent Accounting Pronouncements
In December 2023, the Financial Accounting Standards Board (FASB) issued guidance to enhance the transparency and decision usefulness of income tax disclosures. This guidance requires additional disclosures, primarily focused on income taxes paid and the rate reconciliation table, and is effective for our 2025 fiscal year. Adoption of this guidance will result in additional disclosures, but it will not impact our financial position, results of operations or cash flows.
In November 2024, the FASB issued guidance requiring public business entities to disaggregate disclosure of income statement expenses. This guidance does not change the expense captions an entity presents on the face of the income statement; rather, it requires disaggregation of certain expense captions into specified categories within the footnotes to the financial statements. This update is effective for our 2027 fiscal year and interim periods in fiscal year 2028, with early adoption permitted. We are currently evaluating our timing for adoption and the impact on our future disclosures.
In September 2025, the FASB issued guidance that modernizes the recognition and disclosure framework for internal-use software costs, removing the previous “development stage” model and introducing a more judgment-based approach. Under the new guidance, capitalization begins when management authorizes and commits to funding a project and it is probable the project will be completed and used as intended. This update is effective for our 2028 fiscal year and interim periods within, with early adoption permitted. We are currently evaluating our timing for adoption and the impact on our financial statements.
v3.25.3
Goodwill and Intangible Assets
 9 Months Ended
Sep. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets Goodwill and Intangible Assets
The following table summarizes changes in our goodwill balance by segment:
A&CCoreTotal
Balance at December 31, 2024$1,493.1 $2,025.8 $3,518.9 
Impact of foreign currency translation47.3 65.3 112.6 
Balance at September 30, 2025$1,540.4 $2,091.1 $3,631.5 
Intangible assets, net are summarized as follows:
 September 30, 2025
 Gross
Carrying
Amount		Accumulated
Amortization		Net Carrying
Amount
Indefinite-lived intangible assets:
Trade names and branding$445.0 n/a$445.0 
Domain portfolio218.4 n/a218.4 
Contractual-based assets292.7 n/a292.7 
Finite-lived intangible assets:
Customer-related429.9 $(406.2)23.7 
Developed technology241.1 (235.5)5.6 
Trade names and other100.1 (81.8)18.3 
$1,727.2 $(723.5)$1,003.7 

 December 31, 2024
 Gross
Carrying
Amount		Accumulated
Amortization		Net Carrying
Amount
Indefinite-lived intangible assets:
Trade names and branding$445.0 n/a$445.0 
Domain portfolio220.5 n/a220.5 
Contractual-based assets292.7 n/a292.7 
Finite-lived intangible assets:
Customer-related394.2 $(340.8)53.4 
Developed technology235.1 (215.9)19.2 
Trade names and other93.2 (68.2)25.0 
$1,680.7 $(624.9)$1,055.8 
Amortization expense was $17.3 million and $19.6 million for the three months ended September 30, 2025 and 2024, and was $55.4 million and $59.3 million for the nine months ended September 30, 2025 and 2024, respectively. As of September 30, 2025, the weighted-average remaining amortization period was 16 months for total amortizable intangible assets, 29 months for trade names and other, 8 months for customer-related, and 6 months for developed technology.
Based on the balance of finite-lived intangible assets as of September 30, 2025, expected future amortization expense is as follows:
Year Ending December 31:
2025 (remainder of)$16.4 
202623.8 
20274.4 
20281.9 
20291.2 
$47.7 
v3.25.3
Stockholders' Equity
 9 Months Ended
Sep. 30, 2025
Equity [Abstract]  
Stockholders' Equity Stockholders' Equity
Share Repurchases
Our board of directors (board) previously authorized the repurchase of up to $4,000.0 million of our Class A common stock. During the three months ended March 31, 2025, we made upfront payments totaling $767.4 million, which was equivalent to the amount remaining under this board authorization, to enter into two accelerated share repurchase agreements (ASRs) to repurchase shares of our Class A common stock. The ASRs were forward contracts indexed to our Class A common stock and met all of the applicable criteria for equity classification; therefore, the ASRs were not accounted for as derivative instruments. During April 2025, the ASRs were settled in full with the delivery of approximately 4.4 million shares of Class A common stock at a weighted average price of $176.02 per share. The total number of shares delivered under each ASR, and therefore the average purchase price paid per share, was determined based on the volume weighted-average price of our stock during the applicable purchase period less an agreed upon discount and subject to a cap. The shares received were retired at the time of delivery.
In April 2025, our board approved the repurchase of up to an additional $3,000.0 million of our Class A common stock through the end of 2027. Shares may be repurchased in open market purchases, block transactions and privately negotiated transactions, in accordance with applicable federal securities laws. This authorization does not obligate us to make any repurchases and may be modified, suspended or terminated by us at any time without prior notice. Under this repurchase plan, we repurchased a total of approximately 4.2 million shares of our Class A common stock, which were retired upon repurchase, for an aggregate purchase price of $625.3 million during the nine months ended September 30, 2025.
In aggregate, during the nine months ended September 30, 2025, we repurchased a total of approximately 8.6 million shares of our Class A common stock, which were retired upon repurchase, for an aggregate purchase price of $1,392.6 million. As of September 30, 2025, we had $2,374.7 million remaining available for repurchases under the current board authorization.
v3.25.3
Prepaid Expenses and Other Current Assets
 9 Months Ended
Sep. 30, 2025
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
Prepaid Expenses and Other Current Assets Prepaid Expenses and Other Current Assets
Prepaid expenses and other current assets consisted of the following:
September 30, 2025December 31, 2024
Derivative assets$59.3 $172.7 
Prepaid software and maintenance expenses42.7 33.2 
Usage-based prepaid expenses(1)
12.5 20.2 
Other25.2 19.1 
$139.7 $245.2 
_________________________________
(1)Usage-based prepaid expenses include various cost of sales, marketing, rent and other prepaid commitments that are amortized as the related services are utilized.
v3.25.3
Equity-Based Compensation Plans
 9 Months Ended
Sep. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Equity-Based Compensation Plans Equity-Based Compensation Plans
Equity Plan Activity
We have granted stock options at exercise prices equal to the fair market value of our Class A common stock on the grant date as well as granted both stock options and restricted stock awards (RSUs) vesting solely upon the continued service of the recipient. Stock options were last granted in 2020. Performance-based awards (PSUs) vest based on our relative total stockholder return (TSR) as compared to an index of public internet companies.
The following table summarizes stock option activity:
Number of
Shares of Class A Common Stock (#)		Weighted-
Average
Exercise
Price ($)
Outstanding at December 31, 2024645 54.28 
Exercised(169)39.31 
Outstanding and vested at September 30, 2025476 59.61 
The following table summarizes stock award activity:
Number of
Shares of
Class A
Common
Stock (#)
Outstanding at December 31, 20244,955 
Granted: RSUs1,419 
Granted: TSR-based PSUs 150 
TSR-based PSU achievement above target210 
Vested(2,573)
Forfeited(351)
Outstanding at September 30, 2025(1)
3,810 
_________________________________
(1)The balance of outstanding awards consisted of the following:
Number of
Shares of Class A Common Stock
(#)		Weighted-
Average Grant-
Date Fair Value
Per Share ($)
RSUs3,264 129.52
TSR-based PSUs546 170.82
Outstanding at September 30, 20253,810 
As of September 30, 2025, total unrecognized compensation expense related to non-vested equity grants was $391.0 million with an expected remaining weighted-average recognition period of 1.6 years.
v3.25.3
Deferred Revenue
 9 Months Ended
Sep. 30, 2025
Revenue from Contract with Customer [Abstract]  
Deferred Revenue Deferred Revenue
Deferred revenue consisted of the following:
September 30, 2025December 31, 2024
Current:
A&C$891.6 $783.2 
Core1,527.0 1,439.1 
$2,418.6 $2,222.3 
Noncurrent:
A&C$220.4 $197.0 
Core724.5 686.2 
$944.9 $883.2 
The increase in deferred revenue is primarily driven by payments received in advance of satisfying our performance obligations, offset by $504.2 million and $2,048.0 million of revenue recognized during the three and nine months ended September 30, 2025 that was included in the deferred revenue balance as of December 31, 2024. Deferred revenue as of September 30, 2025 represents our aggregate remaining performance obligations that will be recognized as revenue over the period in which the performance obligations are expected to be satisfied, as follows:
Remainder of 20252026202720282029ThereafterTotal
A&C$366.2 $571.3 $127.3 $34.8 $7.5 $4.9 $1,112.0 
Core593.3 1,065.7 319.4 121.3 62.9 88.9 2,251.5 
$959.5 $1,637.0 $446.7 $156.1 $70.4 $93.8 $3,363.5 
v3.25.3
Accrued Expenses and Other Current Liabilities
 9 Months Ended
Sep. 30, 2025
Payables and Accruals [Abstract]  
Accrued Expenses and Other Current Liabilities Accrued Expenses and Other Current Liabilities
Accrued expenses and other current liabilities consisted of the following:
September 30, 2025December 31, 2024
Derivative liabilities$138.2 $— 
Accrued payroll and employee benefits131.3 146.0 
Tax-related accruals80.2 66.9 
Accrued hosting and software licenses32.2 17.8 
Accrued legal and professional 26.5 35.3 
Current portion of operating lease liabilities21.8 23.0 
Other105.5 89.6 
$535.7 $378.6 
v3.25.3
Long-Term Debt
 9 Months Ended
Sep. 30, 2025
Debt Disclosure [Abstract]  
Long-Term Debt Long-Term Debt
Long-term debt consisted of the following:
Maturity DateSeptember 30, 2025December 31, 2024
2029 Term Loans (effective interest rate of 6.7% at September 30, 2025 and 7.6% at December 31, 2024)
November 10, 2029$1,447.9 $1,458.9 
2031 Term Loans (effective interest rate of 6.3% at September 30, 2025 and 7.2% at December 31, 2024)
May 31, 2031987.5 995.0 
2027 Senior Notes (effective interest rate of 5.5% at September 30, 2025 and 5.4% at December 31, 2024)
December 1, 2027600.0 600.0 
2029 Senior Notes (effective interest rate of 3.7% at September 30, 2025 and 3.6% at December 31, 2024)
March 1, 2029800.0 800.0 
RevolverNovember 10, 2027— — 
Total3,835.4 3,853.9 
Less: unamortized original issue discount and debt issuance costs(1)
(51.0)(58.9)
Less: current portion of long-term debt(15.5)(15.9)
$3,768.9 $3,779.1 
_________________________________
(1)Original issue discount and debt issuance costs are amortized to interest expense over the life of the related debt instruments using the interest method.
Credit Facility
As described in our 2024 Form 10-K, our secured credit agreement (the Credit Facility) includes two tranches of term loans (the 2029 Term Loans and the 2031 Term Loans). A portion of the term loans is hedged by interest rate swap agreements, as discussed in Note 10.
As of September 30, 2025, we had $998.7 million available for borrowing under the Revolver as $1.3 million has been used to secure the issuance of standby letters of credit.
Senior Notes
As described in our 2024 Form 10-K, we have completed two offerings of senior notes (the Senior Notes), the 2027 Senior Notes due in 2027 and the 2029 Senior Notes due in 2029.
Fair Value
The estimated fair values of our long-term debt instruments are based on observable market prices for these instruments, which are traded in less active markets and therefore classified as Level 2 fair value measurements, and were as follows as of September 30, 2025:
2029 Term Loans$1,446.1 
2031 Term Loans$986.3 
2027 Senior Notes$599.6 
2029 Senior Notes$759.2 
Future Debt Maturities
Aggregate principal payments, exclusive of any unamortized original issue discount and debt issuance costs, due on long-term debt as of September 30, 2025 were as follows:
Year Ending December 31:
2025 (remainder of)$6.2 
202624.6 
2027624.6 
202824.6 
20292,210.3 
Thereafter945.1 
$3,835.4 
v3.25.3
Derivatives and Hedging
 9 Months Ended
Sep. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivatives and Hedging Derivatives and Hedging
We utilize the following derivative instruments designated as cash flow hedges:
•foreign exchange forward contracts to hedge certain forecasted sales transactions denominated in foreign currencies;
•cross-currency swaps used to manage variability due to movements in foreign currency exchange rates related to a Euro-denominated intercompany loan; and
•pay-fixed rate, receive-floating rate interest rate swaps to effectively convert portions of our variable-rate debt to fixed.
We also utilize cross-currency swaps designated as net investment hedges to mitigate the risk associated with exchange rate fluctuations on our net investment in certain foreign operations.
The following table summarizes our outstanding derivative instruments on a gross basis, all of which are considered Level 2 financial instruments:
Notional Amount
Fair Value of Derivative Assets(2)
Fair Value of Derivative Liabilities(2)
September 30, 2025December 31, 2024September 30, 2025December 31, 2024September 30, 2025December 31, 2024
Cash flow hedges:
Foreign exchange forward contracts$1,065.4 $946.3 $0.9 $33.2 $21.6 $— 
Cross-currency swaps(1)
585.0 520.4 — 12.5 51.1 — 
Interest rate swaps1,923.4 1,939.0 58.4 111.0 — — 
Net investment hedges:
Cross-currency swaps(1)
749.8 667.0 — 16.0 65.5 — 
Total hedges$4,323.6 $4,072.7 $59.3 $172.7 $138.2 $— 
_________________________________
(1)The notional values of the cross-currency swap have been translated from Euros to U.S. dollars at the foreign currency rates in effect of approximately 1.17 and 1.04 as of September 30, 2025 and December 31, 2024, respectively.
(2)In our balance sheets, all derivative assets are recorded within prepaid expenses and other current assets and all derivative liabilities are recorded within accrued expenses and other current liabilities.
The following table summarizes the effect of our hedging relationships on accumulated other comprehensive income (AOCI):
Unrealized Gains (Losses) Recognized in Other Comprehensive Income
Three Months EndedNine Months Ended
September 30, 2025September 30, 2024September 30, 2025September 30, 2024
Cash flow hedges:
Foreign exchange forward contracts(1)
$15.0 $(21.0)$(58.0)$(10.5)
Cross-currency swaps0.9 3.8 5.4 1.6 
Interest rate swaps(9.8)(57.9)(53.0)(42.2)
Net investment hedges:
Cross-currency swaps4.7 (22.7)(81.9)(3.7)
Total hedges$10.8 $(97.8)$(187.5)$(54.8)
_________________________________
(1)Amounts include gains and losses realized upon contract settlement but not yet recognized into earnings from AOCI.
The following table summarizes the locations and amounts of gains (losses) recognized within earnings related to our hedging relationships:
Three Months Ended September 30, 2025Three Months Ended September 30, 2024
RevenueInterest ExpenseOther Income (Expense), NetRevenueInterest ExpenseOther Income (Expense), Net
Cash flow hedges:
Foreign exchange forward contracts:
Reclassified from AOCI into income$(0.1)$— $— $0.7 $— $— 
Cross-currency swaps:
Reclassified from AOCI into income(1)
— 2.1 2.8 — 2.3 (21.0)
Interest rate swaps:
Reclassified from AOCI into income— 13.0 — — 18.0 — 
Net investment hedges:
Cross-currency swaps:
Reclassified from AOCI into income— 2.7 — — 3.1 — 
Total hedges$(0.1)$17.8 $2.8 $0.7 $23.4 $(21.0)
_________________________________
(1)The amounts reflected in other income (expense), net include $(3.1) million and $21.1 million reclassified from AOCI to offset the earnings impact of the remeasurement of the Euro-denominated intercompany loan hedged by the cross-currency swap during the three months ended September 30, 2025 and 2024, respectively.
Nine Months Ended September 30, 2025Nine Months Ended September 30, 2024
RevenueInterest ExpenseOther Income (Expense), NetRevenueInterest ExpenseOther Income (Expense), Net
Cash flow hedges:
Foreign exchange forward contracts:
Reclassified from AOCI into income$1.8 $— $— $3.6 $— $— 
Cross-currency swaps:
Reclassified from AOCI into income(1)
— 6.6 (69.2)— 7.2 (4.8)
Interest rate swaps:
Reclassified from AOCI into income— 38.8 — — 54.7 — 
Net investment hedges:
Cross-currency swaps:
Reclassified from AOCI into income— 8.6 — — 9.4 — 
Total hedges$1.8 $54.0 $(69.2)$3.6 $71.3 $(4.8)
_________________________________
(1)The amounts reflected in other income (expense), net include $68.5 million and $4.6 million reclassified from AOCI to offset the earnings impact of the remeasurement of the Euro-denominated intercompany loan hedged by the cross-currency swap during the nine months ended September 30, 2025 and 2024, respectively.
As of September 30, 2025, we estimate that $64.5 million of net deferred gains related to our designated hedges will be recognized in earnings over the next 12 months. No amounts have been excluded from our hedge effectiveness testing.
Risk Management Strategies
There have been no material changes in the risk management strategies associated with our derivatives from those disclosed in the 2024 10-K.
v3.25.3
Leases
 9 Months Ended
Sep. 30, 2025
Leases [Abstract]  
Leases Leases
Our operating leases primarily consist of office and data center space expiring at various dates through October 2034. Certain leases include options to renew or terminate at our discretion. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. As of September 30, 2025, operating leases have a remaining weighted-average lease term of 6.1 years and our operating lease liabilities were measured using a weighted-average discount rate of 5.3%.
The components of operating lease expense were as follows:
Three Months Ended September 30,Nine Months Ended September 30,
2025202420252024
Operating lease costs$6.0 $6.3 $18.4 $20.8 
Variable lease costs1.8 4.2 8.2 11 
Sublease income(2.1)(2.6)(5.9)(7.3)
Total net lease cost$5.7 $7.9 $20.7 $24.5 
v3.25.3
Commitments and Contingencies
 9 Months Ended
Sep. 30, 2025
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Commitments and Contingencies
Litigation
From time-to-time, we are a party to litigation and subject to claims, suits, regulatory and government investigations, other proceedings and consent decrees in the ordinary course of business, including intellectual property claims, putative and certified class actions, commercial and consumer protection claims, labor and employment claims, breach of contract claims and other asserted and unasserted claims. We investigate claims as they arise and accrue estimates for resolution of legal and other contingencies when losses are probable and reasonably estimable.
There have been no material changes outside of the ordinary course of business to our known contractual obligations, which were included in Note 13 of Item 8 of our 2024 Form 10-K.
Indirect Taxes
We are subject to indirect taxation in some, but not all, of the various states and foreign jurisdictions in which we conduct business. Laws, rules and regulations attempting to subject communications and commerce conducted over the Internet to various indirect taxes are becoming more prevalent, both in the U.S. and internationally, and may impose additional burdens on us in the future. Increased regulation could negatively affect our business directly, as well as the businesses of our customers. Taxing authorities may impose indirect taxes on the Internet-related revenue we generate based on regulations currently being applied to similar, but not directly comparable, industries. There are many transactions and calculations where the ultimate indirect tax determination is uncertain. In addition, domestic and international indirect taxation laws are complex and subject to change. We may be audited in the future, which could result in changes to our indirect tax estimates. We continually evaluate those jurisdictions in which nexus exists, and believe we maintain adequate indirect tax accruals.
Our accrual for estimated indirect tax liabilities was $33.7 million and $31.5 million as of September 30, 2025 and December 31, 2024, respectively, reflecting our best estimate of the probable liability based on an analysis of our business activities, revenues subject to indirect taxes and applicable regulations. Although we believe our indirect tax estimates and associated liabilities are reasonable, the final determination of indirect tax audits, litigation or settlements could be materially different than the amounts established for indirect tax contingencies.
v3.25.3
Restructuring and Other Charges
 9 Months Ended
Sep. 30, 2025
Restructuring and Related Activities [Abstract]  
Restructuring and Other Charges Restructuring and Other Charges
We recognized $7.9 million of pre-tax restructuring charges in our statement of operations related to severance and certain other immaterial items during the nine months ended September 30, 2025. Of the $7.9 million of pre-tax restructuring charges recognized during the nine months ended September 30, 2025, $1.6 million and $3.5 million were recognized within our A&C and Core segments, respectively, and $2.8 million was recognized as corporate overhead.
We recognized $17.0 million of pre-tax restructuring charges in our statement of operations related to severance, employee benefits and equity-based compensation during the nine months ended September 30, 2024. Of the $17.0 million of pre-tax restructuring charges recognized during the nine months ended September 30, 2024, $6.3 million and $9.9 million were recognized within our A&C and Core segments, respectively, and $0.8 million was recognized as corporate overhead.
The following table shows the total amount incurred and the accrued restructuring costs for severance and employee benefits, which are recorded in accrued expenses and other current liabilities in our balance sheet:
 Accrued Restructuring Costs
Accrued restructuring costs as of December 31, 2024$0.8 
Restructuring costs incurred
7.3 
Amount paid(3.7)
Accrued restructuring costs as of September 30, 2025(1)
$4.4 
Accrued restructuring costs as of December 31, 2023$7.4 
Restructuring costs incurred(2)
16.6 
Amount paid(23.1)
Accrued restructuring costs as of September 30, 2024
$0.9 
________________________________
(1)We expect to make substantially all remaining restructuring payments by the end of the first quarter of 2026.
(2)Excludes $0.8 million in equity-based compensation expense associated with our restructuring plans in 2024 which was recorded within additional paid-in capital.
v3.25.3
Income Taxes
 9 Months Ended
Sep. 30, 2025
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
Our effective tax rate for the nine months ended September 30, 2025 is 13.3%, which differs from the U.S. federal statutory rate primarily due to U.S. research and development tax credits, excess tax benefits related to equity-based compensation and a one-time benefit for the recognition of an uncertain tax position of $34.6 million.
We monitor the realizability of our deferred tax assets (DTAs) considering all relevant factors at each reporting period. As of September 30, 2025, based on the relevant weight of positive and negative evidence, including our ability to forecast future operating results, historical tax losses and our ability to utilize DTAs within the requisite carryforward periods, we do not maintain a valuation allowance on the majority of our U.S. federal and state DTAs.
We maintain valuation allowances on certain U.S., state and foreign carry forwards as we concluded they are not more likely than not to be realized.
Uncertain Tax Positions
The total amount of gross unrecognized tax benefits was $171.9 million as of September 30, 2025, of which $112.0 million, if fully recognized, would decrease our effective tax rate. Although we believe the amounts reflected in our tax returns substantially comply with applicable U.S. federal, state and foreign tax regulations, the respective taxing authorities may take contrary positions based on their interpretation of the law. A tax position successfully challenged by a taxing authority could result in an adjustment to our provision or benefit for income taxes in the period in which a final determination is made.
During the nine months ended September 30, 2025, we recognized a $34.6 million income tax benefit related to the recognition of an uncertain tax position in a foreign jurisdiction as a result of a favorable tax court ruling.
Tax Reform
On July 4, 2025, the U.S. enacted H.R. 1 (One Big Beautiful Bill Act or The Act). The Act includes, among other provisions, changes to the U.S. corporate income tax system including allowing immediate expensing of qualifying research and development expenses and permanently extending certain provisions within the Tax Cuts and Jobs Act. The provisions which became effective beginning July 1, 2025 did not have a material impact to us. Based on our current analysis, we do not expect the remaining provisions to have a material impact; however, we will continue to evaluate their impact as further information becomes available.
v3.25.3
Income Per Share
 9 Months Ended
Sep. 30, 2025
Earnings Per Share [Abstract]  
Income Per Share Income Per Share
Basic income per share is computed by dividing net income by the weighted-average number of shares of Class A common stock outstanding during the period. Diluted income per share is computed giving effect to all potentially dilutive shares unless their effect is antidilutive.
A reconciliation of the numerator and denominator used in the calculation of basic and diluted income per share is as follows:
 Three Months Ended September 30,Nine Months Ended September 30,
 2025202420252024
Numerator:
Net income $210.5 $190.5 $629.9 $738.3 
Denominator:
Weighted-average shares of Class A common stock outstanding—basic137,159 140,523 139,176 141,437 
Effect of dilutive securities:
Stock options295 457 359 456 
RSUs, PSUs and employee stock purchase plan shares1,619 3,158 2,472 3,286 
Weighted-average shares of Class A common stock outstanding—diluted139,073 144,138 142,007 145,179 
Net income per share of Class A common stock—basic$1.53 $1.36 $4.53 $5.22 
Net income per share of Class A common stock—diluted$1.51 $1.32 $4.44 $5.09 

The following number of weighted-average potentially dilutive shares were excluded from the calculation of diluted income per share because the effect of including such potentially dilutive shares would have been antidilutive:
 Three Months Ended September 30,Nine Months Ended September 30,
2025202420252024
RSUs, PSUs and employee stock purchase plan shares1,106 44 1,934 337 
v3.25.3
Segment Information
 9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
Segment Information Segment Information
We report our operating results through two reportable segments: A&C and Core.
Our chief operating decision maker (CODM), which, as of September 30, 2025, was our Chief Executive Officer, evaluates the performance of and allocates resources to our segments based on each segment's revenue and earnings before interest, taxes, depreciation and amortization (Segment EBITDA). Segment EBITDA is evaluated on a monthly basis by the CODM by monitoring actual results versus the annual plan. This comparison is performed to make strategic decisions regarding segment profitability, resource allocation, pricing strategies and cost optimization. Segment EBITDA is defined as segment revenues less costs and operating expenses, excluding depreciation and amortization, interest expense (net), provision or benefit for income taxes, equity-based compensation expense, acquisition-related costs, restructuring-related expenses and certain other
items. We believe Segment EBITDA serves as a measure that assists our CODM and our investors in comparing our segments' performance on a consistent basis.
Our CODM does not use assets by segment to evaluate performance or allocate resources; therefore, we do not provide disclosure of assets by segment. See Note 2 for property, plant, and equipment, net as well as revenue disaggregated by geography.
The A&C and Core segments provide a view into the product-focused organization of our business and generate revenue as follows:
•A&C primarily consists of sales of products containing proprietary software, notably our website building products, as well as our commerce products and third-party email and productivity solutions and sales of certain products when they are included in bundled offerings of our proprietary software products.
•Core primarily consists of sales of domain registrations and renewals, aftermarket domain sales, website hosting products and website security products when not included in bundled offerings of our proprietary software products as well as sales of products not containing a software component.
There are no internal revenue transactions between our reportable segments.
Corporate overhead primarily includes general and administrative expenses and items not allocated to either segment as well as those costs specifically excluded from Segment EBITDA, our segment measure of profitability, such as depreciation and amortization, interest expense and income and provision or benefit for income taxes.
The following table presents our segment information for the periods indicated:
Three Months Ended September 30,Nine Months Ended September 30,
2025202420252024
A&C
Revenue$481.0 $423.1 $1,391.3 $1,211.8 
Other segment items(1)
(261.1)(228.5)(768.7)(678.7)
Segment EBITDA219.9 194.6 622.6 533.1 
Core
Revenue784.3 724.5 2,285.9 2,168.8 
Other segment items(2)
(525.8)(485.5)(1,546.0)(1,493.6)
Segment EBITDA258.5 239.0 739.9 675.2 
Total revenue1,265.3 1,147.6 3,677.2 3,380.6 
Total other segment items(786.9)(714.0)(2,314.7)(2,172.3)
Total Segment EBITDA478.4 433.6 1,362.5 1,208.3 
Unallocated corporate overhead(69.8)(67.1)(207.8)(197.1)
Depreciation and amortization(28.4)(32.8)(89.8)(103.1)
Equity-based compensation expense(3)
(79.6)(74.4)(241.0)(221.6)
Interest expense, net of interest income(28.7)(33.2)(85.8)(102.4)
Restructuring and other(4)
(4.9)(5.1)(12.0)(45.0)
Income before income taxes267.0 221.0 726.1 539.1 
Benefit (provision) for income taxes(56.5)(30.5)(96.2)199.2 
Net income$210.5 $190.5 $629.9 $738.3 
_________________________________
(1)Other segment items in A&C are primarily composed of product license fees used in our third-party email and productivity solutions, payment processing fees, personnel costs excluding equity-based compensation, data center and systems infrastructure costs excluding depreciation, customer care and marketing costs. The CODM uses consolidated expense information to manage operations and is not regularly provided disaggregated other segment items.
(2)Other segment items in Core are primarily composed of domain registration fees, payment processing fees, costs associated with sales of aftermarket domains, hosting and security license fees, personnel costs excluding equity-based compensation, data center and systems infrastructure costs excluding depreciation, customer care and marketing costs. The CODM uses consolidated expense information to manage operations and is not regularly provided disaggregated other segment items.
(3)The nine months ended September 30, 2024 exclude $0.8 million of equity-based compensation expense associated with our restructuring activities which is included within restructuring and other.
(4)In addition to restructuring and other in our statements of operations, other charges included are primarily composed of lease-related expenses associated with closed facilities, charges related to certain legal matters, expenses incurred in relation to the refinancing of our long-term debt and incremental expenses associated with certain professional services.
v3.25.3
Accumulated Other Comprehensive Income (Loss)
 9 Months Ended
Sep. 30, 2025
Equity [Abstract]  
Accumulated Other Comprehensive Income (Loss) Accumulated Other Comprehensive Income (Loss)
The following table presents AOCI activity in equity:
Foreign
Currency
 Translation
Adjustments
Net Unrealized Gains (Losses) on Cash Flow Hedges(1)
Total AOCI
Balance as of December 31, 2024$(67.7)$200.2 $132.5 
Other comprehensive income (loss) before reclassifications(35.2)(48.6)(83.8)
Amounts reclassified from AOCI— (13.4)(13.4)
Other comprehensive income (loss)(35.2)(62.0)(97.2)
Balance as of September 30, 2025$(102.9)$138.2 $35.3 
Balance as of December 31, 2023$(83.6)$195.0 $111.4 
Other comprehensive income (loss) before reclassifications16.7 (108.0)(91.3)
Amounts reclassified from AOCI— 70.1 70.1 
Other comprehensive income (loss)16.7 (37.9)(21.2)
Balance as of September 30, 2024$(66.9)$157.1 $90.2 
________________________________
(1)Amounts shown for our foreign exchange forward contracts include gains and losses realized upon contract settlement but not yet recognized into earnings from AOCI. See Note 10 for the effect on net income of amounts reclassified from AOCI related to our hedging relationships.
v3.25.3
Insider Trading Arrangements
 3 Months Ended
Sep. 30, 2025
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.25.3
Summary of Significant Accounting Policies (Policies)
 9 Months Ended
Sep. 30, 2025
Accounting Policies [Abstract]  
Basis of Presentation
Basis of Presentation
Our financial statements have been prepared in accordance with generally accepted accounting principles in the United States (GAAP) and include our accounts and the accounts of our subsidiaries. All material intercompany accounts and transactions have been eliminated.
Our interim financial statements are unaudited and, in our opinion, include all adjustments of a normal recurring nature necessary for the fair presentation of the periods presented. The results for interim periods are not necessarily indicative of the results to be expected for any subsequent period or for the year ending December 31, 2025.
These financial statements should be read in conjunction with our audited financial statements and related notes included in our Annual Report on Form 10-K for the year ended December 31, 2024 (the 2024 Form 10-K).
Prior Period Reclassifications
Prior Period Reclassifications
Certain prior period amounts have been reclassified to conform to the current period presentation. These amounts were not material to any period presented.
Use of Estimates
Use of Estimates
GAAP requires us to make estimates and assumptions affecting amounts reported in our financial statements. We periodically evaluate our estimates and adjust prospectively, if necessary. We believe our estimates and assumptions are reasonable; however, actual results may differ.
Segments
Segments
We report our operating results through two reportable segments: Applications and Commerce (A&C) and Core Platform (Core), as further discussed in Note 16.
Assets Recognized from Contract Costs
Assets Recognized from Contract Costs
Costs to fulfill our customer contracts primarily relate to fees paid to various registries at the inception of a domain registration or renewal. We capitalize and recognize these prepaid domain name registry fees as cost of revenue consistent with the pattern of transfer of the product to which the asset relates.
Restructuring and Other
Restructuring and Other
Restructuring and other primarily represents charges related to restructuring activities undertaken to reduce future operating expenses and improve cash flows through reductions in force.
Fair Value Measurements
Fair Value Measurements
Fair value is defined as an exit price, representing the amount that would be received to sell an asset, or paid to transfer a liability, in an orderly transaction between market participants. The framework for measuring fair value provides a three-tier hierarchy prioritizing inputs to valuation techniques used in measuring fair value as follows:
Level 1— Observable inputs such as quoted prices for identical assets or liabilities in active markets;
Level 2— Inputs, other than quoted prices for identical assets or liabilities in active markets, which are observable either directly or indirectly; and
Level 3— Unobservable inputs in which there is little or no market data requiring the reporting entity to develop its own assumptions.
We hold certain assets and liabilities required to be measured at fair value on a recurring basis. These include time deposits and notice deposits, which we classify within Level 1 because we use quoted market prices to determine their fair value. Level 2 assets and liabilities include commercial paper and derivative financial instruments associated with hedging activity, as further discussed in Note 10. Derivative financial instruments are measured at fair value on the contract date and are subsequently remeasured each reporting period using inputs such as spot rates, discount rates and forward rates. There are no active markets for the commercial paper or hedge contracts themselves; however, the inputs used to calculate the fair value of the instruments are tied to active markets.
Recent Accounting Pronouncements
Recent Accounting Pronouncements
In December 2023, the Financial Accounting Standards Board (FASB) issued guidance to enhance the transparency and decision usefulness of income tax disclosures. This guidance requires additional disclosures, primarily focused on income taxes paid and the rate reconciliation table, and is effective for our 2025 fiscal year. Adoption of this guidance will result in additional disclosures, but it will not impact our financial position, results of operations or cash flows.
In November 2024, the FASB issued guidance requiring public business entities to disaggregate disclosure of income statement expenses. This guidance does not change the expense captions an entity presents on the face of the income statement; rather, it requires disaggregation of certain expense captions into specified categories within the footnotes to the financial statements. This update is effective for our 2027 fiscal year and interim periods in fiscal year 2028, with early adoption permitted. We are currently evaluating our timing for adoption and the impact on our future disclosures.
In September 2025, the FASB issued guidance that modernizes the recognition and disclosure framework for internal-use software costs, removing the previous “development stage” model and introducing a more judgment-based approach. Under the new guidance, capitalization begins when management authorizes and commits to funding a project and it is probable the project will be completed and used as intended. This update is effective for our 2028 fiscal year and interim periods within, with early adoption permitted. We are currently evaluating our timing for adoption and the impact on our financial statements.
v3.25.3
Summary of Significant Accounting Policies (Tables)
 9 Months Ended
Sep. 30, 2025
Accounting Policies [Abstract]  
Property and Equipment, Net by Geography
Property and equipment, net by geography was as follows:
September 30, 2025December 31, 2024
U.S.$128.2 $133.1 
All other international18.4 23.3 
$146.6 $156.4 
Revenue by Product Type
Revenue by major product type was as follows:
Three Months Ended
 September 30,		Nine Months Ended September 30,
2025202420252024
A&C$481.0 $423.1 $1,391.3 $1,211.8 
Core: domains595.9 535.9 1,724.0 1,597.1 
Core: other188.4 188.6 561.9 571.7 
$1,265.3 $1,147.6 $3,677.2 $3,380.6 
Revenue by Geography
Revenue by geography is based on the customer's billing address and was as follows:
 Three Months Ended September 30,Nine Months Ended September 30,
 2025202420252024
U.S.$842.8 $778.2 $2,470.0 $2,301.2 
International422.5 369.4 1,207.2 1,079.4 
$1,265.3 $1,147.6 $3,677.2 $3,380.6 
Fair Value of Assets and Liabilities Measured on a Recurring Basis
The following tables set forth our material assets and liabilities measured and recorded at fair value on a recurring basis:
September 30, 2025
Level 1Level 2Level 3Total
Assets:
Cash and cash equivalents:
Notice deposits$225.0 $— $— $225.0 
Time deposits135.0 — — 135.0 
Commercial paper— 29.9 — 29.9 
Derivative assets— 59.3 — 59.3 
Total assets$360.0 $89.2 $— $449.2 
Liabilities:
 Derivative liabilities$— $138.2 $— $138.2 
December 31, 2024
Level 1Level 2Level 3Total
Assets:
Cash and cash equivalents:
Time deposits$144.9 $— $— $144.9 
Notice deposits140.0 — — 140.0 
Commercial paper— 134.5 — 134.5 
Derivative assets— 172.7 — 172.7 
Total assets$284.9 $307.2 $— $592.1 
v3.25.3
Goodwill and Intangible Assets (Tables)
 9 Months Ended
Sep. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill
The following table summarizes changes in our goodwill balance by segment:
A&CCoreTotal
Balance at December 31, 2024$1,493.1 $2,025.8 $3,518.9 
Impact of foreign currency translation47.3 65.3 112.6 
Balance at September 30, 2025$1,540.4 $2,091.1 $3,631.5 
Schedule of Indefinite-Lived Intangible Assets
Intangible assets, net are summarized as follows:
 September 30, 2025
 Gross
Carrying
Amount		Accumulated
Amortization		Net Carrying
Amount
Indefinite-lived intangible assets:
Trade names and branding$445.0 n/a$445.0 
Domain portfolio218.4 n/a218.4 
Contractual-based assets292.7 n/a292.7 
Finite-lived intangible assets:
Customer-related429.9 $(406.2)23.7 
Developed technology241.1 (235.5)5.6 
Trade names and other100.1 (81.8)18.3 
$1,727.2 $(723.5)$1,003.7 

 December 31, 2024
 Gross
Carrying
Amount		Accumulated
Amortization		Net Carrying
Amount
Indefinite-lived intangible assets:
Trade names and branding$445.0 n/a$445.0 
Domain portfolio220.5 n/a220.5 
Contractual-based assets292.7 n/a292.7 
Finite-lived intangible assets:
Customer-related394.2 $(340.8)53.4 
Developed technology235.1 (215.9)19.2 
Trade names and other93.2 (68.2)25.0 
$1,680.7 $(624.9)$1,055.8 
Schedule of Finite-Lived Intangible Assets
Intangible assets, net are summarized as follows:
 September 30, 2025
 Gross
Carrying
Amount		Accumulated
Amortization		Net Carrying
Amount
Indefinite-lived intangible assets:
Trade names and branding$445.0 n/a$445.0 
Domain portfolio218.4 n/a218.4 
Contractual-based assets292.7 n/a292.7 
Finite-lived intangible assets:
Customer-related429.9 $(406.2)23.7 
Developed technology241.1 (235.5)5.6 
Trade names and other100.1 (81.8)18.3 
$1,727.2 $(723.5)$1,003.7 

 December 31, 2024
 Gross
Carrying
Amount		Accumulated
Amortization		Net Carrying
Amount
Indefinite-lived intangible assets:
Trade names and branding$445.0 n/a$445.0 
Domain portfolio220.5 n/a220.5 
Contractual-based assets292.7 n/a292.7 
Finite-lived intangible assets:
Customer-related394.2 $(340.8)53.4 
Developed technology235.1 (215.9)19.2 
Trade names and other93.2 (68.2)25.0 
$1,680.7 $(624.9)$1,055.8 
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense
Based on the balance of finite-lived intangible assets as of September 30, 2025, expected future amortization expense is as follows:
Year Ending December 31:
2025 (remainder of)$16.4 
202623.8 
20274.4 
20281.9 
20291.2 
$47.7 
v3.25.3
Prepaid Expenses and Other Current Assets (Tables)
 9 Months Ended
Sep. 30, 2025
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
Schedule of Prepaid Expenses and Other Current Assets
Prepaid expenses and other current assets consisted of the following:
September 30, 2025December 31, 2024
Derivative assets$59.3 $172.7 
Prepaid software and maintenance expenses42.7 33.2 
Usage-based prepaid expenses(1)
12.5 20.2 
Other25.2 19.1 
$139.7 $245.2 
_________________________________
(1)Usage-based prepaid expenses include various cost of sales, marketing, rent and other prepaid commitments that are amortized as the related services are utilized.
v3.25.3
Equity-Based Compensation Plans (Tables)
 9 Months Ended
Sep. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Summary of Stock Award Activity
The following table summarizes stock option activity:
Number of
Shares of Class A Common Stock (#)		Weighted-
Average
Exercise
Price ($)
Outstanding at December 31, 2024645 54.28 
Exercised(169)39.31 
Outstanding and vested at September 30, 2025476 59.61 
The following table summarizes stock award activity:
Number of
Shares of
Class A
Common
Stock (#)
Outstanding at December 31, 20244,955 
Granted: RSUs1,419 
Granted: TSR-based PSUs 150 
TSR-based PSU achievement above target210 
Vested(2,573)
Forfeited(351)
Outstanding at September 30, 2025(1)
3,810 
_________________________________
(1)The balance of outstanding awards consisted of the following:
Number of
Shares of Class A Common Stock
(#)		Weighted-
Average Grant-
Date Fair Value
Per Share ($)
RSUs3,264 129.52
TSR-based PSUs546 170.82
Outstanding at September 30, 20253,810 
v3.25.3
Deferred Revenue (Tables)
 9 Months Ended
Sep. 30, 2025
Revenue from Contract with Customer [Abstract]  
Composition of Deferred Revenue
Deferred revenue consisted of the following:
September 30, 2025December 31, 2024
Current:
A&C$891.6 $783.2 
Core1,527.0 1,439.1 
$2,418.6 $2,222.3 
Noncurrent:
A&C$220.4 $197.0 
Core724.5 686.2 
$944.9 $883.2 
Expected Recognition of Deferred Revenue Deferred revenue as of September 30, 2025 represents our aggregate remaining performance obligations that will be recognized as revenue over the period in which the performance obligations are expected to be satisfied, as follows:
Remainder of 20252026202720282029ThereafterTotal
A&C$366.2 $571.3 $127.3 $34.8 $7.5 $4.9 $1,112.0 
Core593.3 1,065.7 319.4 121.3 62.9 88.9 2,251.5 
$959.5 $1,637.0 $446.7 $156.1 $70.4 $93.8 $3,363.5 
v3.25.3
Accrued Expenses and Other Current Liabilities (Tables)
 9 Months Ended
Sep. 30, 2025
Payables and Accruals [Abstract]  
Composition of Accrued Expenses and Other Current Liabilities
Accrued expenses and other current liabilities consisted of the following:
September 30, 2025December 31, 2024
Derivative liabilities$138.2 $— 
Accrued payroll and employee benefits131.3 146.0 
Tax-related accruals80.2 66.9 
Accrued hosting and software licenses32.2 17.8 
Accrued legal and professional 26.5 35.3 
Current portion of operating lease liabilities21.8 23.0 
Other105.5 89.6 
$535.7 $378.6 
v3.25.3
Long-Term Debt (Tables)
 9 Months Ended
Sep. 30, 2025
Debt Disclosure [Abstract]  
Composition of Long-Term Debt
Long-term debt consisted of the following:
Maturity DateSeptember 30, 2025December 31, 2024
2029 Term Loans (effective interest rate of 6.7% at September 30, 2025 and 7.6% at December 31, 2024)
November 10, 2029$1,447.9 $1,458.9 
2031 Term Loans (effective interest rate of 6.3% at September 30, 2025 and 7.2% at December 31, 2024)
May 31, 2031987.5 995.0 
2027 Senior Notes (effective interest rate of 5.5% at September 30, 2025 and 5.4% at December 31, 2024)
December 1, 2027600.0 600.0 
2029 Senior Notes (effective interest rate of 3.7% at September 30, 2025 and 3.6% at December 31, 2024)
March 1, 2029800.0 800.0 
RevolverNovember 10, 2027— — 
Total3,835.4 3,853.9 
Less: unamortized original issue discount and debt issuance costs(1)
(51.0)(58.9)
Less: current portion of long-term debt(15.5)(15.9)
$3,768.9 $3,779.1 
_________________________________
(1)Original issue discount and debt issuance costs are amortized to interest expense over the life of the related debt instruments using the interest method.
Estimated Fair Values of Long-Term Debt Instruments
The estimated fair values of our long-term debt instruments are based on observable market prices for these instruments, which are traded in less active markets and therefore classified as Level 2 fair value measurements, and were as follows as of September 30, 2025:
2029 Term Loans$1,446.1 
2031 Term Loans$986.3 
2027 Senior Notes$599.6 
2029 Senior Notes$759.2 
Aggregate Principal Payments Due on Long-Term Debt
Aggregate principal payments, exclusive of any unamortized original issue discount and debt issuance costs, due on long-term debt as of September 30, 2025 were as follows:
Year Ending December 31:
2025 (remainder of)$6.2 
202624.6 
2027624.6 
202824.6 
20292,210.3 
Thereafter945.1 
$3,835.4 
v3.25.3
Derivatives and Hedging (Tables)
 9 Months Ended
Sep. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Summary of Outstanding Derivative Instruments
The following table summarizes our outstanding derivative instruments on a gross basis, all of which are considered Level 2 financial instruments:
Notional Amount
Fair Value of Derivative Assets(2)
Fair Value of Derivative Liabilities(2)
September 30, 2025December 31, 2024September 30, 2025December 31, 2024September 30, 2025December 31, 2024
Cash flow hedges:
Foreign exchange forward contracts$1,065.4 $946.3 $0.9 $33.2 $21.6 $— 
Cross-currency swaps(1)
585.0 520.4 — 12.5 51.1 — 
Interest rate swaps1,923.4 1,939.0 58.4 111.0 — — 
Net investment hedges:
Cross-currency swaps(1)
749.8 667.0 — 16.0 65.5 — 
Total hedges$4,323.6 $4,072.7 $59.3 $172.7 $138.2 $— 
_________________________________
(1)The notional values of the cross-currency swap have been translated from Euros to U.S. dollars at the foreign currency rates in effect of approximately 1.17 and 1.04 as of September 30, 2025 and December 31, 2024, respectively.
(2)In our balance sheets, all derivative assets are recorded within prepaid expenses and other current assets and all derivative liabilities are recorded within accrued expenses and other current liabilities.
Summary of the Gains (Losses) Recognized within Earnings Related to Derivative Instruments
The following table summarizes the effect of our hedging relationships on accumulated other comprehensive income (AOCI):
Unrealized Gains (Losses) Recognized in Other Comprehensive Income
Three Months EndedNine Months Ended
September 30, 2025September 30, 2024September 30, 2025September 30, 2024
Cash flow hedges:
Foreign exchange forward contracts(1)
$15.0 $(21.0)$(58.0)$(10.5)
Cross-currency swaps0.9 3.8 5.4 1.6 
Interest rate swaps(9.8)(57.9)(53.0)(42.2)
Net investment hedges:
Cross-currency swaps4.7 (22.7)(81.9)(3.7)
Total hedges$10.8 $(97.8)$(187.5)$(54.8)
_________________________________
(1)Amounts include gains and losses realized upon contract settlement but not yet recognized into earnings from AOCI.
The following table summarizes the locations and amounts of gains (losses) recognized within earnings related to our hedging relationships:
Three Months Ended September 30, 2025Three Months Ended September 30, 2024
RevenueInterest ExpenseOther Income (Expense), NetRevenueInterest ExpenseOther Income (Expense), Net
Cash flow hedges:
Foreign exchange forward contracts:
Reclassified from AOCI into income$(0.1)$— $— $0.7 $— $— 
Cross-currency swaps:
Reclassified from AOCI into income(1)
— 2.1 2.8 — 2.3 (21.0)
Interest rate swaps:
Reclassified from AOCI into income— 13.0 — — 18.0 — 
Net investment hedges:
Cross-currency swaps:
Reclassified from AOCI into income— 2.7 — — 3.1 — 
Total hedges$(0.1)$17.8 $2.8 $0.7 $23.4 $(21.0)
_________________________________
(1)The amounts reflected in other income (expense), net include $(3.1) million and $21.1 million reclassified from AOCI to offset the earnings impact of the remeasurement of the Euro-denominated intercompany loan hedged by the cross-currency swap during the three months ended September 30, 2025 and 2024, respectively.
Nine Months Ended September 30, 2025Nine Months Ended September 30, 2024
RevenueInterest ExpenseOther Income (Expense), NetRevenueInterest ExpenseOther Income (Expense), Net
Cash flow hedges:
Foreign exchange forward contracts:
Reclassified from AOCI into income$1.8 $— $— $3.6 $— $— 
Cross-currency swaps:
Reclassified from AOCI into income(1)
— 6.6 (69.2)— 7.2 (4.8)
Interest rate swaps:
Reclassified from AOCI into income— 38.8 — — 54.7 — 
Net investment hedges:
Cross-currency swaps:
Reclassified from AOCI into income— 8.6 — — 9.4 — 
Total hedges$1.8 $54.0 $(69.2)$3.6 $71.3 $(4.8)
_________________________________
(1)The amounts reflected in other income (expense), net include $68.5 million and $4.6 million reclassified from AOCI to offset the earnings impact of the remeasurement of the Euro-denominated intercompany loan hedged by the cross-currency swap during the nine months ended September 30, 2025 and 2024, respectively.
v3.25.3
Leases (Tables)
 9 Months Ended
Sep. 30, 2025
Leases [Abstract]  
Components of Lease Expenses
The components of operating lease expense were as follows:
Three Months Ended September 30,Nine Months Ended September 30,
2025202420252024
Operating lease costs$6.0 $6.3 $18.4 $20.8 
Variable lease costs1.8 4.2 8.2 11 
Sublease income(2.1)(2.6)(5.9)(7.3)
Total net lease cost$5.7 $7.9 $20.7 $24.5 
v3.25.3
Restructuring and Other Charges (Tables)
 9 Months Ended
Sep. 30, 2025
Restructuring and Related Activities [Abstract]  
Summary of the Activity in the Restructuring Related Accruals The following table shows the total amount incurred and the accrued restructuring costs for severance and employee benefits, which are recorded in accrued expenses and other current liabilities in our balance sheet:
 Accrued Restructuring Costs
Accrued restructuring costs as of December 31, 2024$0.8 
Restructuring costs incurred
7.3 
Amount paid(3.7)
Accrued restructuring costs as of September 30, 2025(1)
$4.4 
Accrued restructuring costs as of December 31, 2023$7.4 
Restructuring costs incurred(2)
16.6 
Amount paid(23.1)
Accrued restructuring costs as of September 30, 2024
$0.9 
________________________________
(1)We expect to make substantially all remaining restructuring payments by the end of the first quarter of 2026.
(2)Excludes $0.8 million in equity-based compensation expense associated with our restructuring plans in 2024 which was recorded within additional paid-in capital.
v3.25.3
Income Per Share (Tables)
 9 Months Ended
Sep. 30, 2025
Earnings Per Share [Abstract]  
Reconciliation of the Numerator and Denominator Used in the Calculation of Basic and Diluted Net Income Per Share
A reconciliation of the numerator and denominator used in the calculation of basic and diluted income per share is as follows:
 Three Months Ended September 30,Nine Months Ended September 30,
 2025202420252024
Numerator:
Net income $210.5 $190.5 $629.9 $738.3 
Denominator:
Weighted-average shares of Class A common stock outstanding—basic137,159 140,523 139,176 141,437 
Effect of dilutive securities:
Stock options295 457 359 456 
RSUs, PSUs and employee stock purchase plan shares1,619 3,158 2,472 3,286 
Weighted-average shares of Class A common stock outstanding—diluted139,073 144,138 142,007 145,179 
Net income per share of Class A common stock—basic$1.53 $1.36 $4.53 $5.22 
Net income per share of Class A common stock—diluted$1.51 $1.32 $4.44 $5.09 
Summary of Weighted Average Potentially Dilutive Shares
The following number of weighted-average potentially dilutive shares were excluded from the calculation of diluted income per share because the effect of including such potentially dilutive shares would have been antidilutive:
 Three Months Ended September 30,Nine Months Ended September 30,
2025202420252024
RSUs, PSUs and employee stock purchase plan shares1,106 44 1,934 337 
v3.25.3
Segment Information (Tables)
 9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
Schedule of Segment Information
The following table presents our segment information for the periods indicated:
Three Months Ended September 30,Nine Months Ended September 30,
2025202420252024
A&C
Revenue$481.0 $423.1 $1,391.3 $1,211.8 
Other segment items(1)
(261.1)(228.5)(768.7)(678.7)
Segment EBITDA219.9 194.6 622.6 533.1 
Core
Revenue784.3 724.5 2,285.9 2,168.8 
Other segment items(2)
(525.8)(485.5)(1,546.0)(1,493.6)
Segment EBITDA258.5 239.0 739.9 675.2 
Total revenue1,265.3 1,147.6 3,677.2 3,380.6 
Total other segment items(786.9)(714.0)(2,314.7)(2,172.3)
Total Segment EBITDA478.4 433.6 1,362.5 1,208.3 
Unallocated corporate overhead(69.8)(67.1)(207.8)(197.1)
Depreciation and amortization(28.4)(32.8)(89.8)(103.1)
Equity-based compensation expense(3)
(79.6)(74.4)(241.0)(221.6)
Interest expense, net of interest income(28.7)(33.2)(85.8)(102.4)
Restructuring and other(4)
(4.9)(5.1)(12.0)(45.0)
Income before income taxes267.0 221.0 726.1 539.1 
Benefit (provision) for income taxes(56.5)(30.5)(96.2)199.2 
Net income$210.5 $190.5 $629.9 $738.3 
_________________________________
(1)Other segment items in A&C are primarily composed of product license fees used in our third-party email and productivity solutions, payment processing fees, personnel costs excluding equity-based compensation, data center and systems infrastructure costs excluding depreciation, customer care and marketing costs. The CODM uses consolidated expense information to manage operations and is not regularly provided disaggregated other segment items.
(2)Other segment items in Core are primarily composed of domain registration fees, payment processing fees, costs associated with sales of aftermarket domains, hosting and security license fees, personnel costs excluding equity-based compensation, data center and systems infrastructure costs excluding depreciation, customer care and marketing costs. The CODM uses consolidated expense information to manage operations and is not regularly provided disaggregated other segment items.
(3)The nine months ended September 30, 2024 exclude $0.8 million of equity-based compensation expense associated with our restructuring activities which is included within restructuring and other.
(4)In addition to restructuring and other in our statements of operations, other charges included are primarily composed of lease-related expenses associated with closed facilities, charges related to certain legal matters, expenses incurred in relation to the refinancing of our long-term debt and incremental expenses associated with certain professional services.
v3.25.3
Accumulated Other Comprehensive Income (Loss) (Tables)
 9 Months Ended
Sep. 30, 2025
Equity [Abstract]  
OCI Activity in Equity
The following table presents AOCI activity in equity:
Foreign
Currency
 Translation
Adjustments
Net Unrealized Gains (Losses) on Cash Flow Hedges(1)
Total AOCI
Balance as of December 31, 2024$(67.7)$200.2 $132.5 
Other comprehensive income (loss) before reclassifications(35.2)(48.6)(83.8)
Amounts reclassified from AOCI— (13.4)(13.4)
Other comprehensive income (loss)(35.2)(62.0)(97.2)
Balance as of September 30, 2025$(102.9)$138.2 $35.3 
Balance as of December 31, 2023$(83.6)$195.0 $111.4 
Other comprehensive income (loss) before reclassifications16.7 (108.0)(91.3)
Amounts reclassified from AOCI— 70.1 70.1 
Other comprehensive income (loss)16.7 (37.9)(21.2)
Balance as of September 30, 2024$(66.9)$157.1 $90.2 
________________________________
(1)Amounts shown for our foreign exchange forward contracts include gains and losses realized upon contract settlement but not yet recognized into earnings from AOCI. See Note 10 for the effect on net income of amounts reclassified from AOCI related to our hedging relationships.
v3.25.3
Organization and Background (Details)
 9 Months Ended
Sep. 30, 2025
segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Number of reportable segments 2
Number of operating segments 2
v3.25.3
Summary of Significant Accounting Policies - Property and Equipment, Net by Geography (Details) - USD ($)
$ in Millions
Sep. 30, 2025
Dec. 31, 2024
Revenues from External Customers and Long-Lived Assets [Line Items]    
Property and equipment, net $ 146.6 $ 156.4
U.S.    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Property and equipment, net 128.2 133.1
All other international    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Property and equipment, net $ 18.4 $ 23.3
v3.25.3
Summary of Significant Accounting Policies - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Dec. 31, 2024
Accounting Policies [Abstract]          
Equity investments $ 58.0   $ 58.0   $ 53.1
Amortization of contract costs $ 214.9 $ 200.3 $ 624.9 $ 589.9  
v3.25.3
Summary of Significant Accounting Policies - Revenue by Product Type (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Disaggregation of Revenue [Line Items]        
Total revenue $ 1,265.3 $ 1,147.6 $ 3,677.2 $ 3,380.6
A&C        
Disaggregation of Revenue [Line Items]        
Total revenue 481.0 423.1 1,391.3 1,211.8
Core        
Disaggregation of Revenue [Line Items]        
Total revenue 784.3 724.5 2,285.9 2,168.8
Core | Domains        
Disaggregation of Revenue [Line Items]        
Total revenue 595.9 535.9 1,724.0 1,597.1
Core | Other        
Disaggregation of Revenue [Line Items]        
Total revenue $ 188.4 $ 188.6 $ 561.9 $ 571.7
v3.25.3
Summary of Significant Accounting Policies - Revenue by Geography (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Revenues from External Customers and Long-Lived Assets [Line Items]        
Total revenue $ 1,265.3 $ 1,147.6 $ 3,677.2 $ 3,380.6
U.S.        
Revenues from External Customers and Long-Lived Assets [Line Items]        
Total revenue 842.8 778.2 2,470.0 2,301.2
International        
Revenues from External Customers and Long-Lived Assets [Line Items]        
Total revenue $ 422.5 $ 369.4 $ 1,207.2 $ 1,079.4
v3.25.3
Summary of Significant Accounting Policies - Fair Value of Assets and Liabilities Measured on a Recurring Basis (Details) - Measured on a Recurring Basis - USD ($)
$ in Millions
Sep. 30, 2025
Dec. 31, 2024
Assets:    
Derivative assets $ 59.3 $ 172.7
Total assets 449.2 592.1
Liabilities:    
Derivative liabilities 138.2  
Notice deposits    
Assets:    
Cash and cash equivalents 225.0 140.0
Time deposits    
Assets:    
Cash and cash equivalents 135.0 144.9
Commercial paper    
Assets:    
Cash and cash equivalents 29.9 134.5
Level 1    
Assets:    
Derivative assets 0.0 0.0
Total assets 360.0 284.9
Liabilities:    
Derivative liabilities 0.0  
Level 1 | Notice deposits    
Assets:    
Cash and cash equivalents 225.0 140.0
Level 1 | Time deposits    
Assets:    
Cash and cash equivalents 135.0 144.9
Level 1 | Commercial paper    
Assets:    
Cash and cash equivalents 0.0 0.0
Level 2    
Assets:    
Derivative assets 59.3 172.7
Total assets 89.2 307.2
Liabilities:    
Derivative liabilities 138.2  
Level 2 | Notice deposits    
Assets:    
Cash and cash equivalents 0.0 0.0
Level 2 | Time deposits    
Assets:    
Cash and cash equivalents 0.0 0.0
Level 2 | Commercial paper    
Assets:    
Cash and cash equivalents 29.9 134.5
Level 3    
Assets:    
Derivative assets 0.0 0.0
Total assets 0.0 0.0
Liabilities:    
Derivative liabilities 0.0  
Level 3 | Notice deposits    
Assets:    
Cash and cash equivalents 0.0 0.0
Level 3 | Time deposits    
Assets:    
Cash and cash equivalents 0.0 0.0
Level 3 | Commercial paper    
Assets:    
Cash and cash equivalents $ 0.0 $ 0.0
v3.25.3
Goodwill and Intangible Assets - Schedule of Goodwill (Details)
$ in Millions
 9 Months Ended
Sep. 30, 2025
USD ($)
Goodwill [Roll Forward]  
Balance at December 31, 2024 $ 3,518.9
Impact of foreign currency translation 112.6
Balance at September 30, 2025 3,631.5
Applications and commerce  
Goodwill [Roll Forward]  
Balance at December 31, 2024 1,493.1
Impact of foreign currency translation 47.3
Balance at September 30, 2025 1,540.4
Core platform  
Goodwill [Roll Forward]  
Balance at December 31, 2024 2,025.8
Impact of foreign currency translation 65.3
Balance at September 30, 2025 $ 2,091.1
v3.25.3
Goodwill and Intangible Assets - Schedule of Intangible Assets (Details) - USD ($)
$ in Millions
Sep. 30, 2025
Dec. 31, 2024
Finite-Lived Intangible Assets [Line Items]    
Accumulated Amortization $ (723.5) $ (624.9)
Net Carrying Amount 47.7  
Gross Carrying Amount 1,727.2 1,680.7
Net Carrying Amount 1,003.7 1,055.8
Trade names and branding    
Indefinite-lived Intangible Assets [Line Items]    
Carrying Amount 445.0 445.0
Domain portfolio    
Indefinite-lived Intangible Assets [Line Items]    
Carrying Amount 218.4 220.5
Contractual-based assets    
Indefinite-lived Intangible Assets [Line Items]    
Carrying Amount 292.7 292.7
Customer-related    
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Amount 429.9 394.2
Accumulated Amortization (406.2) (340.8)
Net Carrying Amount 23.7 53.4
Developed technology    
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Amount 241.1 235.1
Accumulated Amortization (235.5) (215.9)
Net Carrying Amount 5.6 19.2
Trade names and other    
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Amount 100.1 93.2
Accumulated Amortization (81.8) (68.2)
Net Carrying Amount $ 18.3 $ 25.0
v3.25.3
Goodwill and Intangible Assets - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Finite-Lived Intangible Assets [Line Items]        
Amortization expense $ 17.3 $ 19.6 $ 55.4 $ 59.3
Weighted Average        
Finite-Lived Intangible Assets [Line Items]        
Weighted average remaining amortization period 16 months   16 months  
Customer-related        
Finite-Lived Intangible Assets [Line Items]        
Weighted average remaining amortization period 8 months   8 months  
Developed technology        
Finite-Lived Intangible Assets [Line Items]        
Weighted average remaining amortization period 6 months   6 months  
Trade names and other        
Finite-Lived Intangible Assets [Line Items]        
Weighted average remaining amortization period 29 months   29 months  
v3.25.3
Goodwill and Intangible Assets - Future Amortization of Finite Lived Intangible Assets (Details)
$ in Millions
Sep. 30, 2025
USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]  
2025 $ 16.4
2026 23.8
2027 4.4
2028 1.9
2029 1.2
Net Carrying Amount $ 47.7
v3.25.3
Stockholders' Equity (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 1 Months Ended 3 Months Ended 9 Months Ended
Apr. 30, 2025
Sep. 30, 2025
Jun. 30, 2025
 [1]
Mar. 31, 2025
Sep. 30, 2024
 [2]
Jun. 30, 2024
 [2]
Mar. 31, 2024
 [2]
Sep. 30, 2025
Sep. 30, 2024
Aug. 31, 2023
Class of Stock [Line Items]                    
Authorized amount                   $ 4,000.0
Up-front payment for repurchase of common stock               $ 1,383.0 $ 668.1  
Aggregate purchase price   $ 603.2 [1] $ 33.2 $ 765.1 [1] $ 20.3 $ 502.8 $ 147.1      
New Accelerated Share Repurchase Agreement                    
Class of Stock [Line Items]                    
Up-front payment for repurchase of common stock       $ 767.4            
Repurchases of Class A common stock (in shares) 4.4             4.2    
Average price per share (in dollars per share) $ 176.02                  
Aggregate purchase price               $ 625.3    
Current Board Authorization                    
Class of Stock [Line Items]                    
Repurchases of Class A common stock (in shares)               8.6    
Repurchase of additional stock $ 3,000.0                  
Aggregate purchase price               $ 1,392.6    
Remaining available for repurchases   $ 2,374.7           $ 2,374.7    
[1] Includes a 1% excise tax on shares repurchased, net of the fair market value of new share issuances, of $4.9 million, $6.3 million, and $(2.3) million for the three months ended September 30, 2025, June 30, 2025, and March 31, 2025, respectively.
[2] Includes a 1% excise tax on shares repurchased, net of the fair market value of new share issuances, of $1.4 million, $1.3 million, and $(0.5) million for the three months ended September 30, 2024, June 30, 2024, and March 31, 2024, respectively.
v3.25.3
Prepaid Expenses and Other Current Assets (Details) - USD ($)
$ in Millions
Sep. 30, 2025
Dec. 31, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]    
Derivative assets $ 59.3 $ 172.7
Derivative Asset, Current, Statement of Financial Position [Extensible Enumeration] Assets of businesses held for sale Assets of businesses held for sale
Prepaid software and maintenance expenses $ 42.7 $ 33.2
Usage-based prepaid expenses 12.5 20.2
Other 25.2 19.1
Assets of businesses held for sale $ 139.7 $ 245.2
v3.25.3
Equity-Based Compensation Plans - Summary of Stock Option Activity (Details)
shares in Thousands
 9 Months Ended
Sep. 30, 2025
$ / shares
shares
Number of Shares of Class A Common Stock (#)  
Outstanding at beginning of period (in shares) | shares 645
Exercised (in shares) | shares (169)
Outstanding at end of period (in shares) | shares 476
Vested at end of period (in shares) | shares 476
Weighted- Average Exercise Price ($)  
Outstanding weighted average exercise price (in dollars per share) | $ / shares $ 54.28
Exercised (in dollars per share) | $ / shares 39.31
Outstanding weighted average exercise price (in dollars per share) | $ / shares 59.61
Vested at end of period (in dollars per share) | $ / shares $ 59.61
v3.25.3
Equity-Based Compensation Plans - Summary of Stock Award Activity (Details)
shares in Thousands
 9 Months Ended
Sep. 30, 2025
$ / shares
shares
Number of Shares of Class A Common Stock (#)  
Outstanding at beginning of period (in shares) 4,955
Vested (in shares) (2,573)
Forfeited (in shares) (351)
Outstanding at end of period (in shares) 3,810
RSUs  
Number of Shares of Class A Common Stock (#)  
Granted (in shares) 1,419
Outstanding at end of period (in shares) 3,264
Weighted-average grant-date fair value per share (in dollars per share) | $ / shares $ 129.52
TSR-based PSUs  
Number of Shares of Class A Common Stock (#)  
Granted (in shares) 150
Outstanding at end of period (in shares) 546
Weighted-average grant-date fair value per share (in dollars per share) | $ / shares $ 170.82
TSR-Based Performance Stock Units Above Target  
Number of Shares of Class A Common Stock (#)  
Granted (in shares) 210
v3.25.3
Equity-Based Compensation Plans - Narrative (Details)
$ in Millions
 9 Months Ended
Sep. 30, 2025
USD ($)
RSU's and ESPP  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Unrecognized compensation costs $ 391.0
RSUs  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Weighted average recognition period 1 year 7 months 6 days
v3.25.3
Deferred Revenue - Composition of Deferred Revenue (Details) - USD ($)
$ in Millions
Sep. 30, 2025
Dec. 31, 2024
Disaggregation of Revenue [Line Items]    
Deferred revenue, current $ 2,418.6 $ 2,222.3
Deferred revenue, noncurrent 944.9 883.2
Applications and commerce    
Disaggregation of Revenue [Line Items]    
Deferred revenue, current 891.6 783.2
Deferred revenue, noncurrent 220.4 197.0
Core platform    
Disaggregation of Revenue [Line Items]    
Deferred revenue, current 1,527.0 1,439.1
Deferred revenue, noncurrent $ 724.5 $ 686.2
v3.25.3
Deferred Revenue - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2025
Revenue from Contract with Customer [Abstract]    
Revenue recognized $ 504.2 $ 2,048.0
v3.25.3
Deferred Revenue - Expected Recognition of Deferred Revenue (Details)
$ in Millions
Sep. 30, 2025
USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Deferred revenue expected to be recognized as revenue $ 3,363.5
Applications and commerce  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Deferred revenue expected to be recognized as revenue 1,112.0
Core platform  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Deferred revenue expected to be recognized as revenue 2,251.5
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-10-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Deferred revenue expected to be recognized as revenue $ 959.5
Expected recognition period 3 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-10-01 | Applications and commerce  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Deferred revenue expected to be recognized as revenue $ 366.2
Expected recognition period 3 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-10-01 | Core platform  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Deferred revenue expected to be recognized as revenue $ 593.3
Expected recognition period 3 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Deferred revenue expected to be recognized as revenue $ 1,637.0
Expected recognition period 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01 | Applications and commerce  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Deferred revenue expected to be recognized as revenue $ 571.3
Expected recognition period 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01 | Core platform  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Deferred revenue expected to be recognized as revenue $ 1,065.7
Expected recognition period 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Deferred revenue expected to be recognized as revenue $ 446.7
Expected recognition period 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01 | Applications and commerce  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Deferred revenue expected to be recognized as revenue $ 127.3
Expected recognition period 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01 | Core platform  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Deferred revenue expected to be recognized as revenue $ 319.4
Expected recognition period 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Deferred revenue expected to be recognized as revenue $ 156.1
Expected recognition period 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-01-01 | Applications and commerce  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Deferred revenue expected to be recognized as revenue $ 34.8
Expected recognition period 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-01-01 | Core platform  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Deferred revenue expected to be recognized as revenue $ 121.3
Expected recognition period 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2029-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Deferred revenue expected to be recognized as revenue $ 70.4
Expected recognition period 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2029-01-01 | Applications and commerce  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Deferred revenue expected to be recognized as revenue $ 7.5
Expected recognition period 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2029-01-01 | Core platform  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Deferred revenue expected to be recognized as revenue $ 62.9
Expected recognition period 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2030-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Deferred revenue expected to be recognized as revenue $ 93.8
Expected recognition period
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2030-01-01 | Applications and commerce  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Deferred revenue expected to be recognized as revenue $ 4.9
Expected recognition period
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2030-01-01 | Core platform  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Deferred revenue expected to be recognized as revenue $ 88.9
Expected recognition period
v3.25.3
Accrued Expenses and Other Current Liabilities (Details) - USD ($)
$ in Millions
Sep. 30, 2025
Dec. 31, 2024
Payables and Accruals [Abstract]    
Derivative liabilities $ 138.2 $ 0.0
Derivative Liability, Current, Statement of Financial Position [Extensible Enumeration] Accounts payable Accounts payable
Accrued payroll and employee benefits $ 131.3 $ 146.0
Tax-related accruals 80.2 66.9
Accrued hosting and software licenses 32.2 17.8
Accrued legal and professional 26.5 35.3
Current portion of operating lease liabilities 21.8 23.0
Other 105.5 89.6
Accounts payable $ 535.7 $ 378.6
v3.25.3
Long-Term Debt - Composition of Long-Term Debt (Details) - USD ($)
$ in Millions
Sep. 30, 2025
Dec. 31, 2024
Debt Instrument [Line Items]    
Long-term debt $ 3,835.4 $ 3,853.9
Less unamortized original issue discount and debt issuance costs (51.0) (58.9)
Less: unamortized original issue discount and debt issuance costs (15.5) (15.9)
Long-term debt, net of current portion 3,768.9 3,779.1
2029 Term Loans | Secured Debt    
Debt Instrument [Line Items]    
Long-term debt $ 1,447.9 $ 1,458.9
Effective interest rate percentage 6.70% 7.60%
2031 Term Loans | Secured Debt    
Debt Instrument [Line Items]    
Long-term debt $ 987.5 $ 995.0
Effective interest rate percentage 6.30% 7.20%
2027 Senior Notes | Senior Notes    
Debt Instrument [Line Items]    
Long-term debt $ 600.0 $ 600.0
Effective interest rate percentage 5.50% 5.40%
2029 Senior Notes | Senior Notes    
Debt Instrument [Line Items]    
Long-term debt $ 800.0 $ 800.0
Effective interest rate percentage 3.70% 3.60%
Revolver | Line of Credit | Revolving Credit Facility    
Debt Instrument [Line Items]    
Long-term debt $ 0.0 $ 0.0
v3.25.3
Long-Term Debt - Narrative (Details)
$ in Millions
Sep. 30, 2025
USD ($)
tranche
Line of Credit | 2027 Term Loans And 2029 Term Loans  
Debt Instrument [Line Items]  
Number of tranches | tranche 2
Line of Credit | Revolver  
Debt Instrument [Line Items]  
Remaining borrowing capacity $ 998.7
Standby Letters of Credit | Senior Unsecured Revolving Credit Facility  
Debt Instrument [Line Items]  
Borrowings used $ 1.3
v3.25.3
Long-Term Debt - Estimated Fair Values of Long-Term Debt Instruments (Details) - Level 2
$ in Millions
Sep. 30, 2025
USD ($)
2029 Term Loans | Secured Debt  
Debt Instrument [Line Items]  
Estimated fair value of long-term debt $ 1,446.1
2031 Term Loans | Secured Debt  
Debt Instrument [Line Items]  
Estimated fair value of long-term debt 986.3
2027 Senior Notes | Senior Notes  
Debt Instrument [Line Items]  
Estimated fair value of long-term debt 599.6
2029 Senior Notes | Senior Notes  
Debt Instrument [Line Items]  
Estimated fair value of long-term debt $ 759.2
v3.25.3
Long-Term Debt - Aggregate Principal Payments Due on Long-Term Debt (Details) - USD ($)
$ in Millions
Sep. 30, 2025
Dec. 31, 2024
Debt Disclosure [Abstract]    
2025 (remainder of) $ 6.2  
2026 24.6  
2027 624.6  
2028 24.6  
2029 2,210.3  
Thereafter 945.1  
Aggregate principal payments $ 3,835.4 $ 3,853.9
v3.25.3
Derivatives and Hedging - Summary of Outstanding Derivative Instruments (Details)
$ in Millions
Sep. 30, 2025
USD ($)
€ / $
Dec. 31, 2024
USD ($)
€ / $
Derivative [Line Items]    
Derivative Asset, Statement of Financial Position [Extensible Enumeration] Prepaid Expense and Other Assets, Current Prepaid Expense and Other Assets, Current
Derivative Liability, Statement of Financial Position [Extensible Enumeration] Accrued expenses and other current liabilities Accrued expenses and other current liabilities
Designated as Hedging Instrument | Level 2    
Derivative [Line Items]    
Notional Amount $ 4,323.6 $ 4,072.7
Fair Value of Derivative Assets 59.3 172.7
Fair Value of Derivative Liabilities 138.2 0.0
Cash Flow Hedging | Foreign exchange forward contracts gain (loss), net | Designated as Hedging Instrument | Level 2    
Derivative [Line Items]    
Notional Amount 1,065.4 946.3
Fair Value of Derivative Assets 0.9 33.2
Fair Value of Derivative Liabilities $ 21.6 $ 0.0
Cash Flow Hedging | Interest rate swaps | Designated as Hedging Instrument    
Derivative [Line Items]    
Euro to U.S. dollar exchange rate for translation | € / $ 1.17 1.04
Cash Flow Hedging | Interest rate swaps | Designated as Hedging Instrument | Level 2    
Derivative [Line Items]    
Notional Amount $ 585.0 $ 520.4
Fair Value of Derivative Assets 0.0 12.5
Fair Value of Derivative Liabilities 51.1 0.0
Cash Flow Hedging | Total hedges | Designated as Hedging Instrument | Level 2    
Derivative [Line Items]    
Notional Amount 1,923.4 1,939.0
Fair Value of Derivative Assets 58.4 111.0
Fair Value of Derivative Liabilities 0.0 0.0
Net Investment Hedging | Interest rate swaps | Designated as Hedging Instrument | Level 2    
Derivative [Line Items]    
Notional Amount 749.8 667.0
Fair Value of Derivative Assets 0.0 16.0
Fair Value of Derivative Liabilities $ 65.5 $ 0.0
v3.25.3
Derivatives and Hedging - Summary of the Gains (Losses) Recognized within Earnings Related to Derivative Instruments (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Derivative [Line Items]        
Revenue $ 1,265.3 $ 1,147.6 $ 3,677.2 $ 3,380.6
Interest Expense 38.3 39.4 113.8 120.2
Other Income (Expense), Net 8.6 6.6 29.6 24.5
Total hedges | Reclassification out of Accumulated Other Comprehensive Income        
Derivative [Line Items]        
Revenue (0.1) 0.7 1.8 3.6
Interest Expense 17.8 23.4 54.0 71.3
Other Income (Expense), Net 2.8 (21.0) (69.2) (4.8)
Designated as Hedging Instrument        
Derivative [Line Items]        
Total hedges 10.8 (97.8) (187.5) (54.8)
Foreign exchange forward contracts gain (loss), net | Cash Flow Hedging | Cash flow hedges | Reclassification out of Accumulated Other Comprehensive Income        
Derivative [Line Items]        
Revenue (0.1) 0.7 1.8 3.6
Interest Expense 0.0 0.0 0.0 0.0
Other Income (Expense), Net 0.0 0.0 0.0 0.0
Foreign exchange forward contracts gain (loss), net | Cash Flow Hedging | Designated as Hedging Instrument        
Derivative [Line Items]        
Unrealized Gains (Losses) Recognized in Other Comprehensive Income, Cash flow hedges 15.0 (21.0) (58.0) (10.5)
Interest rate swaps | Cash flow hedges | Euro-Denominated Intercompany Loan | Reclassification out of Accumulated Other Comprehensive Income        
Derivative [Line Items]        
Other Income (Expense), Net (3.1) 21.1 68.5 4.6
Interest rate swaps | Cash Flow Hedging | Cash flow hedges | Reclassification out of Accumulated Other Comprehensive Income        
Derivative [Line Items]        
Revenue 0.0 0.0 0.0 0.0
Interest Expense 2.1 2.3 6.6 7.2
Other Income (Expense), Net 2.8 (21.0) (69.2) (4.8)
Interest rate swaps | Cash Flow Hedging | Designated as Hedging Instrument        
Derivative [Line Items]        
Unrealized Gains (Losses) Recognized in Other Comprehensive Income, Cash flow hedges 0.9 3.8 5.4 1.6
Interest rate swaps | Net Investment Hedging | Net investment hedges | Reclassification out of Accumulated Other Comprehensive Income        
Derivative [Line Items]        
Revenue 0.0 0.0 0.0 0.0
Interest Expense 2.7 3.1 8.6 9.4
Other Income (Expense), Net 0.0 0.0 0.0 0.0
Interest rate swaps | Net Investment Hedging | Designated as Hedging Instrument        
Derivative [Line Items]        
Unrealized Gains (Losses) Recognized in Other Comprehensive Income, Net investment hedges 4.7 (22.7) (81.9) (3.7)
Total hedges | Cash Flow Hedging | Cash flow hedges | Reclassification out of Accumulated Other Comprehensive Income        
Derivative [Line Items]        
Revenue 0.0 0.0 0.0 0.0
Interest Expense 13.0 18.0 38.8 54.7
Other Income (Expense), Net 0.0 0.0 0.0 0.0
Total hedges | Cash Flow Hedging | Designated as Hedging Instrument        
Derivative [Line Items]        
Unrealized Gains (Losses) Recognized in Other Comprehensive Income, Cash flow hedges $ (9.8) $ (57.9) $ (53.0) $ (42.2)
v3.25.3
Derivatives and Hedging - Narrative (Details)
$ in Millions
Sep. 30, 2025
USD ($)
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Net deferred gains from cash flow hedges $ 64.5
v3.25.3
Leases - Narrative (Details)
Sep. 30, 2025
Leases [Abstract]  
Operating lease, remaining weighted average lease term 6 years 1 month 6 days
Operating lease, weighted average discount rate 5.30%
v3.25.3
Leases - Components of Lease Expenses (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Leases [Abstract]        
Operating lease costs $ 6.0 $ 6.3 $ 18.4 $ 20.8
Variable lease costs 1.8 4.2 8.2 11.0
Sublease income (2.1) (2.6) (5.9) (7.3)
Total net lease cost $ 5.7 $ 7.9 $ 20.7 $ 24.5
v3.25.3
Commitments and Contingencies (Details) - USD ($)
$ in Millions
Sep. 30, 2025
Dec. 31, 2024
Indirect Taxation    
Loss Contingencies [Line Items]    
Accrual for estimated indirect tax liabilities $ 33.7 $ 31.5
v3.25.3
Restructuring and Other Charges - Narrative (Details) - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Restructuring Cost and Reserve [Line Items]    
Restructuring and other   $ 17.0
Other Restructuring    
Restructuring Cost and Reserve [Line Items]    
Restructuring and other $ 2.8 0.8
Applications and commerce    
Restructuring Cost and Reserve [Line Items]    
Restructuring and other 1.6 6.3
Core platform    
Restructuring Cost and Reserve [Line Items]    
Restructuring and other $ 3.5 $ 9.9
v3.25.3
Restructuring and Other Charges - Summary of the Activity in the Restructuring Related Accruals (Details) - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Restructuring Reserve [Roll Forward]    
Accrued restructuring costs as of beginning balance $ 0.8 $ 7.4
Restructuring costs incurred 7.3 16.6
Amount paid (3.7) (23.1)
Accrued restructuring costs as of ending balance $ 4.4 0.9
Restructuring and other   17.0
Equity Based Compensation Expense    
Restructuring Reserve [Roll Forward]    
Restructuring and other   $ 0.8
v3.25.3
Income Taxes (Details)
$ in Millions
 9 Months Ended
Sep. 30, 2025
USD ($)
Income Tax Disclosure [Abstract]  
Effective tax rate 13.30%
Income tax benefit related to reversal of uncertain tax position $ 34.6
Unrecognized tax benefits 171.9
Unrecognized tax benefits that if fully recognized would decrease the effective tax rate $ 112.0
v3.25.3
Income Per Share - Reconciliation of the Numerator and Denominator Used in the Calculation of Basic and Diluted Net Income Per Share (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Jun. 30, 2025
Mar. 31, 2025
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Sep. 30, 2025
Sep. 30, 2024
Numerator:                
Net income $ 210.5 $ 199.9 $ 219.5 $ 190.5 $ 146.3 $ 401.5 $ 629.9 $ 738.3
Chain linking for XBRL                
Weighted-average shares of Class A common stock outstanding—basic (in shares) 137,159     140,523     139,176 141,437
Weighted-average shares of Class A common stock outstanding—diluted (in shares) 139,073     144,138     142,007 145,179
Net income per share of Class A common stock —basic (in dollars per share) $ 1.53     $ 1.36     $ 4.53 $ 5.22
Net income per share of Class A common stock—diluted (in dollars per share) $ 1.51     $ 1.32     $ 4.44 $ 5.09
Stock options                
Chain linking for XBRL                
Effect of dilutive securities (in shares) 295     457     359 456
RSUs, PSUs and employee stock purchase plan shares                
Chain linking for XBRL                
Effect of dilutive securities (in shares) 1,619     3,158     2,472 3,286
v3.25.3
Income Per Share - Summary of Weighted Average Potentially Dilutive Shares (Details) - shares
shares in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
RSUs, PSUs and employee stock purchase plan shares        
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]        
Antidilutive securities (in shares) 1,106 44 1,934 337
v3.25.3
Segment Information - Narrative (Details)
 9 Months Ended
Sep. 30, 2025
segment
Segment Reporting [Abstract]  
Number of operating segments 2
Number of reportable segments 2
v3.25.3
Segment Information (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Jun. 30, 2025
Mar. 31, 2025
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Sep. 30, 2025
Sep. 30, 2024
Segment Reporting Information [Line Items]                
Total revenue $ 1,265.3     $ 1,147.6     $ 3,677.2 $ 3,380.6
Income before income taxes 267.0     221.0     726.1 539.1
Benefit (provision) for income taxes (56.5)     (30.5)     (96.2) 199.2
Net income 210.5 $ 199.9 $ 219.5 190.5 $ 146.3 $ 401.5 629.9 738.3
Total equity-based compensation expense 79.6     74.4     241.0 222.4
Restructuring and other                
Segment Reporting Information [Line Items]                
Total equity-based compensation expense 0.0     0.0     0.0 0.8
Operating Segments                
Segment Reporting Information [Line Items]                
Total revenue 1,265.3     1,147.6     3,677.2 3,380.6
Other segment items (786.9)     (714.0)     (2,314.7) (2,172.3)
Interest expense, net of interest income 478.4     433.6     1,362.5 1,208.3
Segment Reporting, Reconciling Item, Corporate Nonsegment                
Segment Reporting Information [Line Items]                
Restructuring and other(4) (69.8)     (67.1)     (207.8) (197.1)
Segment Reporting, Reconciling Item, Excluding Corporate Nonsegment                
Segment Reporting Information [Line Items]                
Depreciation and amortization (28.4)     (32.8)     (89.8) (103.1)
Equity-based compensation expense (79.6)     (74.4)     (241.0) (221.6)
Net income (28.7)     (33.2)     (85.8) (102.4)
Restructuring and other (4.9)     (5.1)     (12.0) (45.0)
Applications and commerce                
Segment Reporting Information [Line Items]                
Total revenue 481.0     423.1     1,391.3 1,211.8
Applications and commerce | Operating Segments                
Segment Reporting Information [Line Items]                
Total revenue 481.0     423.1     1,391.3 1,211.8
Other segment items (261.1)     (228.5)     (768.7) (678.7)
Interest expense, net of interest income 219.9     194.6     622.6 533.1
Core platform                
Segment Reporting Information [Line Items]                
Total revenue 784.3     724.5     2,285.9 2,168.8
Core platform | Operating Segments                
Segment Reporting Information [Line Items]                
Total revenue 784.3     724.5     2,285.9 2,168.8
Other segment items (525.8)     (485.5)     (1,546.0) (1,493.6)
Interest expense, net of interest income $ 258.5     $ 239.0     $ 739.9 $ 675.2
v3.25.3
Accumulated Other Comprehensive Income (Loss) - AOCI Activity in Equity (Details) - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Dec. 31, 2023
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]      
Beginning balance $ 692.1 $ 62.2  
Other comprehensive income (loss) before reclassifications (83.8) (91.3)  
Amounts reclassified from AOCI (13.4) 70.1  
Other comprehensive income (loss) (97.2) (21.2)  
Ending balance 91.8 356.7  
Accumulated Other Comprehensive Income      
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]      
Beginning balance 132.5 111.2  
Beginning balance     $ 111.4
Ending balance 35.3 90.2  
Foreign Currency Translation Adjustments      
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]      
Beginning balance (67.7) (83.6)  
Other comprehensive income (loss) before reclassifications (35.2) 16.7  
Amounts reclassified from AOCI 0.0 0.0  
Other comprehensive income (loss) (35.2) 16.7  
Ending balance (102.9) (66.9)  
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent      
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]      
Beginning balance 200.2 195.0  
Other comprehensive income (loss) before reclassifications (48.6) (108.0)  
Amounts reclassified from AOCI (13.4) 70.1  
Other comprehensive income (loss) (62.0) (37.9)  
Ending balance $ 138.2 $ 157.1