v3.25.2
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 1,261,969 $ 788,287
Restricted cash 4,616 16,499
Cash reserved for users 297,369 525,407
Receivables reserved for users 67,623 62,542
Accounts receivable 68,950 57,839
Prepaid expenses and other current assets 86,172 83,187
Total current assets 1,786,699 1,533,761
Property and equipment, net 53,214 50,550
Intangible assets, net 879,996 933,121
Goodwill 1,555,116 1,555,116
Operating lease right-of-use assets 69,066 74,917
Equity method investments 13,882 13,200
Deposits and other non-current assets 116,329 123,060
Total assets 4,474,302 4,283,725
Current liabilities:    
Accounts payable and accrued expenses 553,162 661,245
Liabilities to users 724,969 979,453
Operating lease liabilities, current portion 11,361 10,993
Other current liabilities 45,061 3,300
Total current liabilities 1,334,553 1,654,991
Convertible notes, net of issuance costs 1,257,751 1,256,429
Term B Loan, net of issuance costs 578,499 0
Operating lease liabilities 62,332 67,660
Warrant liabilities 14,205 22,033
Long-term income tax liabilities 84,328 76,375
Other long-term liabilities 133,006 195,611
Total liabilities 3,464,674 3,273,099
Commitments and contingent liabilities (Notes 5 and 13)
Stockholders’ equity:    
Treasury stock, at cost; 24,486 and 15,651 shares as of June 30, 2025 and December 31, 2024, respectively (907,739) (563,146)
Additional paid-in capital 8,197,948 7,978,425
Accumulated deficit (6,317,156) (6,441,228)
Accumulated other comprehensive income 36,488 36,488
Total stockholders’ equity 1,009,628 1,010,626
Total liabilities and stockholders’ equity 4,474,302 4,283,725
Class A Common Stock    
Stockholders’ equity:    
Common stock 48 48
Class B Common Stock    
Stockholders’ equity:    
Common stock $ 39 $ 39