{
  "source": "S15",
  "period": "Six months ended June 30 2026",
  "unit": "USD million",
  "evidence_class": "Primary unaudited filing; arithmetic verified",
  "income_statement": {
    "revenue": 4653,
    "cost_of_revenue": -1595,
    "technology_and_infrastructure": -2780,
    "sales_and_marketing": -129,
    "general_and_administrative": -342,
    "operating_loss": -193,
    "interest_net": -1176,
    "other_income": 149,
    "income_tax": -146,
    "net_loss": -1366
  },
  "net_loss_to_cfo": {
    "net_loss": -1366,
    "depreciation_amortization": 2540,
    "debt_discount_amortization": 86,
    "stock_based_compensation": 318,
    "noncash_lease_expense": 365,
    "deferred_taxes": 140,
    "other_noncash": 97,
    "receivables": 607,
    "prepaid_and_other_assets": -611,
    "payables_accruals": 304,
    "deferred_revenue": 1365,
    "lease_liabilities": -182,
    "cfo": 3663
  },
  "cash_capex_bridge": {
    "cfo": 3663,
    "cash_property_equipment_including_internal_software": -14117,
    "residual": -10454
  },
  "caveats": [
    "CFO already reflects cash interest except capitalized amounts; do not subtract interest again.",
    "Cash capex residual is not a complete unlevered cash flow or mature-cohort return.",
    "Noncash capex liabilities mean cash purchases are not all investment.",
    "Do not treat depreciation and replacement capex as two cash costs."
  ]
}