v3.25.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities    
Net loss $ (7,311) $ (1,009)
Adjustments to reconcile net loss to net cash used by operating activities    
Depreciation and amortization expense 8,669 9,307
Amortization of deferred financing costs 95 106
Provision for credit losses 654 687
Stock-based compensation 14,486 10,959
Accrued interest 326 433
Impairment and write-off on intangible assets   162
Accretion of investments held to maturity (346) (913)
Deferred income taxes 344 89
Changes in operating assets and liabilities    
Accounts receivable (2,018) (2,442)
Prepaid expenses and other current assets (2,101) (3,252)
Other noncurrent assets (605) (725)
Deferred customer origination costs (19) 448
Accounts payable 3,956 (1,428)
Deferred revenue (6) (1,330)
Accrued expenses and other liabilities (8,350) (17,288)
Operating lease liabilities (378) (156)
Total adjustments 14,707 (5,343)
Net cash provided by (used in) operating activities 7,396 (6,352)
Cash flows from investing activities    
Purchase of marketable securities held to maturity (59,403) (87,996)
Proceeds from maturity of marketable securities held to maturity 11,446 33,666
Purchases of equipment (597) (522)
Purchases of intangible assets (4,462) (4,039)
Supplier advances, net (2,510) (656)
Net cash used in investing activities (55,526) (59,547)
Cash flows from financing activities    
Repayments of long-term debt   (406)
Principal payments on finance leases (53) (77)
Proceeds from issuance of common stock 164 3,168
Remittance of taxes upon vesting of restricted stock units (209)  
Payment of acquisition-related liability (100) (100)
Payment service obligations (100,822) (358,197)
Net cash used in financing activities (101,020) (355,612)
Net decrease in cash, cash equivalents, and restricted funds held for customers (149,150) (421,511)
Cash, cash equivalents, and restricted funds held for customers    
Cash, cash equivalents, and restricted funds held for customers, beginning of year 1,605,983 1,985,630
Cash, cash equivalents, and restricted funds held for customers, end of period 1,456,833 1,564,119
Supplementary information of noncash investing and financing activities    
Property and equipment purchases in accounts payable and accrued expenses 60 85
Interest paid on notes payable   1,330
Interest paid on finance leases $ 1,491 1,468
Cash paid for income taxes   $ 7