v3.25.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Operating activities    
Net income $ 37,852 $ 40,601
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 3,157 3,500
Provision for credit losses 35,898 24,308
Changes in fair value of earnout liabilities 7,496 133
Changes in fair value of public and private warrant liabilities 20,843 205
Gain on extinguishment of convertible debt 0 (33,442)
Stock-based compensation 15,802 13,836
Non-cash interest 0 251
Non-cash lease expense (20) (11)
Changes in fair value of marketable securities and investments 66 (173)
Changes in operating assets and liabilities:    
ExtraCash receivables, service based revenue (7,909) (568)
Prepaid income taxes 0 148
Prepaid expenses and other current assets (1,719) (5,587)
Accounts payable 965 3,833
Accrued expenses 458 (1,899)
Legal settlement accrual 159 (2,110)
Other current liabilities (164) 510
Other non-current liabilities 608 2,864
Other non-current assets (8) (8)
Net cash provided by operating activities 113,484 46,391
Investing activities    
Payments for internally developed software costs (3,101) (3,767)
Purchase of property and equipment (164) (147)
Net originations and collections of ExtraCash receivables (77,794) (38,653)
Purchase of investments (108,849) (48,524)
Sale and maturity of investments 108,065 121,841
Purchase of marketable securities (2) (59,177)
Sale of marketable securities 0 60,034
Net cash (used in) provided by investing activities (81,845) 31,607
Financing activities    
Repurchases of Class A common stock (6,891) 0
Proceeds from issuance of common stock for stock option exercises 722 831
Payment of taxes for shares withheld related to net share settlement (13,319) (761)
Repayment of borrowings on convertible debt, long-term 0 (71,000)
Net cash used in financing activities (19,488) (70,930)
Net increase in cash and cash equivalents and restricted cash 12,151 7,068
Cash and cash equivalents and restricted cash, beginning of the period 51,377 43,078
Cash and cash equivalents and restricted cash, end of the period 63,528 50,146
Supplemental disclosure of non-cash investing and financing activities:    
Accrued excise taxes for repurchases of Class A common stock 69 0
Supplemental disclosure of cash paid for:    
Income taxes 1,615 96
Interest 3,490 3,885
The following table provides a reconciliation of cash and cash equivalents, and restricted cash reported within the condensed consolidated balance sheet with the same as shown in the condensed consolidated statement of cash flows    
Cash and cash equivalents 61,687 48,600
Restricted cash 1,841 1,546
Total cash, cash equivalents, and restricted cash, end of the period $ 63,528 $ 50,146