v3.26.1
Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Revenue:    
Revenue from fees, net $ 277,063 $ 185,475
Interest income, interest expense, and fair value adjustments, net:    
Interest income [1],[2] 56,061 40,568
Interest expense [1],[2] (10,370) (7,020)
Fair value and other adjustments, net [1] (14,540) (5,652)
Total interest income, interest expense, and fair value adjustments, net 31,151 27,896
Total revenue 308,214 213,371
Operating expenses:    
Sales and marketing 104,455 58,970
Customer operations 55,095 40,501
Engineering and product development 80,112 57,838
General, administrative, and other 76,070 60,558
Total operating expenses 315,732 217,867
Loss from operations (7,518) (4,496)
Other income, net 956 2,078
Net loss before income taxes (6,562) (2,418)
Provision for income taxes 84 29
Net loss $ (6,646) $ (2,447)
Net loss per share, basic (in dollars per share) $ (0.07) $ (0.03)
Net loss per share, diluted (in dollars per share) $ (0.07) $ (0.03)
Weighted-average number of shares outstanding used in computing net loss per share, basic (in shares) 96,901,974 94,274,538
Weighted-average number of shares outstanding used in computing net loss per share, diluted (in shares) 96,901,974 94,274,538
[1] Balances for the three months ended March 31, 2025 and 2026 include amounts related to the consolidated securitization. Refer to “Note 2. Revenue” for details.
[2] For the three months ended March 31, 2026, interest income and interest expense include dividend income earned on certain cash accounts and expense on convertible senior notes, respectively, which were previously included in other income, net. Refer to “Note 1. Description of Business and Significant Accounting Policies” for details.