v3.26.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Current assets    
Cash and cash equivalents $ 649,062 $ 542,426
Disbursement prefunding 244,506 441,335
Customer funds receivable, net 295,792 286,455
Prepaid expenses and other current assets 58,325 45,735
Total current assets 1,247,685 1,315,951
Property and equipment, net 60,162 61,521
Operating lease right-of-use assets 9,954 12,452
Goodwill 54,940 54,940
Intangible assets, net 1,594 2,125
Other noncurrent assets, net 11,448 11,724
Total assets 1,385,783 1,458,713
Current liabilities    
Accounts payable 28,784 28,450
Customer liabilities 264,768 219,667
Short-term debt 2,844 2,821
Accrued expenses and other current liabilities 136,285 141,948
Operating lease liabilities 6,686 6,166
Total current liabilities 439,367 399,052
Operating lease liabilities, noncurrent 29,769 28,135
Long-term debt 0 155,000
Other noncurrent liabilities 9,207 7,737
Total liabilities 478,343 589,924
Commitments and contingencies (Note 15)
Stockholders’ equity    
Common stock, $0.0001 par value; 725,000,000 shares authorized as of both March 31, 2026 and December 31, 2025; 210,332,998 and 210,625,519 shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively 21 21
Additional paid-in capital 1,316,280 1,325,520
Accumulated other comprehensive income 2,434 3,596
Accumulated deficit (411,295) (460,348)
Total stockholders’ equity 907,440 868,789
Total liabilities and stockholders’ equity $ 1,385,783 $ 1,458,713