v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities:    
Net income (loss) $ 7,834 $ (8,260)
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities:    
Depreciation and amortization 8,854 5,331
Share-based compensation expense 20,017 25,915
Non-cash operating leases expense 769 535
Accretion of discount on short-term investments (34) (396)
Other (671) 364
Changes in operating assets and liabilities:    
Accounts receivable (4,631) 1,312
Network incentives receivable (18,810) 1,836
Settlements receivable (14,418) 1,795
Prepaid expenses and other assets (1,531) (2,543)
Accounts payable (1,058) 1,023
Revenue share payable 35,618 16,016
Accrued expenses and other liabilities (34,115) (31,837)
Operating lease liabilities (1,191) (1,104)
Net cash (used in) provided by operating activities (3,367) 9,987
Cash flows from investing activities:    
Maturities of short-term investments 25,134 22,186
Capitalization of internal-use software (7,798) (6,059)
Purchases of property and equipment (1,279) (1,266)
Net cash provided by investing activities 16,057 14,861
Cash flows from financing activities:    
Repurchase of common stock (39,207) (111,310)
Change in funds payable and amounts due to customers (26,593) 0
Taxes paid related to net share settlement of restricted stock units (8,789) (7,101)
Proceeds from exercise of stock options, including early exercised stock options, net of repurchase of early exercised unvested options 51 1,444
Net cash used in financing activities (74,538) (116,967)
Net decrease in cash, cash equivalents, and restricted cash (61,848) (92,119)
Cash, cash equivalents, and restricted cash- Beginning of period 1,017,931 931,516
Cash, cash equivalents, and restricted cash - End of period 956,083 839,397
Reconciliation of cash, cash equivalents, and restricted cash    
Cash and cash equivalents 674,790 830,897
Restricted cash 280,398 8,500
Restricted cash, included in Other assets 895 0
Total cash, cash equivalents, and restricted cash 956,083 839,397
Supplemental disclosures of non-cash investing and financing activities:    
Contingent and holdback considerations, not yet paid 5,026 0
Repurchase of common stock, including excise tax, accrued and not yet paid 3,874 1,006
Share-based compensation capitalized to internal-use software 2,606 2,522
Purchase of property and equipment accrued and not yet paid $ 87 $ 1,142