v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Operating activities    
Net Income (Loss) $ 57,936 $ 28,812
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 1,624 1,537
Provision for credit losses 26,586 10,603
Changes in fair value of earnout liabilities (3,190) (398)
Changes in fair value of public and private warrant liabilities (8,309) 352
Stock-based compensation 85 0
Non-cash interest expense from the convertible notes 7,102 7,517
Deferred income taxes 22 0
Non-cash lease expense 0 (11)
Changes in fair value of marketable securities and investments 0 59
Changes in operating assets and liabilities:    
ExtraCash receivables, service based revenue (1,739) (3,324)
Prepaid expenses and other current assets (6,514) 96
Accounts payable (1,639) (466)
Accrued expenses (151) (4,450)
Income taxes payable 10,106 4,682
Legal settlement accrual 48 54
Other current liabilities (384) (125)
Other non-current liabilities 447 313
Other non-current assets (4) (4)
Net cash provided by operating activities 82,026 45,247
Investing activities    
Payments for internally developed software costs (1,542) (1,370)
Purchase of property and equipment (19) (37)
Net originations, purchases and collections of ExtraCash receivables (6,684) (26,094)
Purchase of investments (25,961) (37,855)
Sale and maturity of investments 24,067 37,300
Purchase of marketable securities 0 (1)
Net cash used in investing activities (10,139) (28,057)
Financing activities    
Repurchases of Class A common stock (186,724) (6,891)
Proceeds from issuance of common stock for stock option exercises 63 304
Proceeds from issuance of convertible notes, net 193,079 0
Purchase of capped calls (17,331) 0
Payment of taxes for shares withheld related to net share settlement (8,170) (13,319)
Net cash used in financing activities (19,083) (19,906)
Net increase (decrease) in cash and cash equivalents and restricted cash 52,804 (2,716)
Cash and cash equivalents and restricted cash, beginning of the period 82,364 51,377
Cash and cash equivalents and restricted cash, end of the period 135,168 48,661
Supplemental disclosure of non-cash investing and financing activities:    
Property and equipment purchases in accounts payable and accrued liabilities 0 20
Operating lease right of use assets recognized 311 0
Operating lease liabilities recognized 311 0
Convertible notes and capped call issuance costs in accounts payable and accrued liabilities 417 0
Accrued excise taxes for repurchases of Class A common stock 1,711 69
Supplemental disclosure of cash paid (received) for:    
Income taxes 1,518 (33)
Interest 1,610 1,733
The following table provides a reconciliation of cash and cash equivalents, and restricted cash reported within the condensed consolidated balance sheets with the same as shown in the condensed consolidated statement of cash flows    
Cash and cash equivalents 133,327 47,002
Restricted cash 1,841 1,659
Total cash, cash equivalents, and restricted cash, end of the period $ 135,168 $ 48,661