v3.26.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 3 Months Ended
Mar. 31, 2026
Accounting Policies [Abstract]  
Schedule of Accumulated Other Comprehensive Income (Loss)
The components of accumulated other comprehensive income were as follows (in millions):
March 31,
2026		December 31,
2025
Foreign currency translation income$131 $80 
Total accumulated other comprehensive income$131 $80 
Schedule of Calculation of Basic and Diluted Net (loss) income Per Share
The following table sets forth the calculation of basic and diluted earnings per share (in millions, except per share data):
Three Months Ended
March 31,

Numerator:		20262025
Net income (loss)
$3 $(15)
Denominator:
Denominator for basic earnings per share — weighted-average outstanding shares413.0 410.5 
Effect of dilutive securities:
Stock options, restricted stock awards, and restricted stock units
1.0 — 
Denominator for diluted earnings per share — weighted-average outstanding shares414.0 410.5 
 
Earnings per share — basic$0.01 $(0.04)
Earnings per share — diluted$0.01 $(0.04)
Schedule of Anti-dilutive Securities Excluded from Computation of Earnings Per Share
The following table summarizes the shares underlying the unvested performance-based restricted stock awards and units and anti-dilutive securities excluded from the basic and diluted earnings per share calculations (in millions):
Three Months Ended
March 31,
20262025
Performance-based restricted stock awards and units
1.8 1.4 
Anti-dilutive securities4.1 2.2 
Schedule of Stock-based Compensation Expense for Stock Options and Restricted Stock
Stock-based compensation expense for stock options, restricted stock awards, and restricted stock units issued under equity incentive plans, stock purchases under the ESPP, and DSUs and Matching RSUs awarded under the MSPP included in the Company’s condensed consolidated statements of operations were as follows (in millions):
Three Months Ended
March 31,
20262025
Cost of revenue$6 $4 
Selling and marketing (excluding customer base amortization)5 5 
Software development13 7 
General and administrative18 14 
Total stock-based compensation expense$42 $30 
Schedule of Restrictions on Cash and Cash Equivalents
Cash, cash equivalents, and restricted cash are included in the following line items in the condensed consolidated balance sheets and condensed consolidated statements of cash flows (in millions):
March 31, 2026December 31, 2025
Cash and cash equivalents
$1,215 $1,633 
Restricted cash
101 100 
Total cash, cash equivalents, and restricted cash
$1,316 $1,733 
Schedule of Financing Receivable, Allowance for Credit Losses
The following table details the activity related to the allowance for credit losses for trade receivables (in millions):
 Three Months Ended March 31,
 20262025
Beginning balance$29 $23 
Current-period provision for expected credit losses
8 9 
Write-offs charged against the allowance
(5)(7)
Ending balance$32 $25 
Schedule of Inventories Related to the Matterport Acquisition
Inventories related to the Matterport Acquisition consisted of the following (in millions):
March 31, 2026December 31, 2025
Finished goods$8 $4 
Purchased parts and raw materials6 2 
Total inventories$14 $6 
Schedule of Deferred Lease Income
Deferred lease income as of March 31, 2026 and December 31, 2025 was as follows (in millions):
BalanceBalance Sheet CaptionMarch 31,
2026		December 31,
2025
Current portion
Other current liabilities
$6 $6 
Non-current portion
Lease and other long-term liabilities
34 35 
Total deferred lease income$40 $41 
Schedule of Components of Other (Expense) Income Components of other expense, net related to leasing operations for the three months ended March 31, 2026 and 2025 were as follows (in millions):
Three Months Ended
March 31,
20262025
Lease income(1)
$4 $5 
Less:
Property operating expenses1 1 
Depreciation and amortization expense3 4 
Other expense from leasing operations
$— $— 
__________________________
(1) Includes $2 million and $1 million of amortization expense of above-market leases for the three months ended March 31, 2026 and 2025, respectively.