Accrued expenses and other current liabilities consisted of the following as of March 31, 2026 and December 31, 2025:


	March 31,		December 31,
(in thousands)	2026		2025
Trade settlement liability(1)	$	34,636	$	34,884
Accrued transaction expense	25,599		34,673
Accrued marketing expense	20,030		17,307
Accrued salary, benefits, and related taxes	17,572		12,996
Accrued taxes and taxes payable	6,904		9,772
Reserve for transaction losses	6,041		5,440
Accrued interest expense	2,231		2,342
Accrued share repurchase	1,750		—
ESPP employee contributions	1,009		5,099
Other accrued expenses	20,513		19,435
Accrued expenses & other current liabilities	$	136,285	$	141,948

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(1) The trade settlement liability amount represents the total of disbursement postfunding liabilities and book overdrafts owed to the Company’s disbursement partners. Refer to Note 2. Basis of Presentation and Summary of Significant Accounting Policies within the notes to the consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025 for further discussion.