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 $ 49,053 $ 11,352
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, amortization, and other 14,123 7,863
Stock-based compensation expense, net 27,536 35,792
Donation of common stock 765 959
Changes in operating assets and liabilities:    
Prepaid expenses and other assets (12,723) (6,272)
Operating lease right-of-use assets 1,134 2,041
Accounts payable 4,772 22,182
Accrued expenses and other liabilities (4,896) 2,800
Operating lease liabilities 2,128 4,066
Net cash provided by operating activities 81,892 80,783
Cash flows from investing activities    
Purchases of property and equipment (5,987) (10,615)
Capitalized internal-use software costs (3,199) (2,949)
Net collections (originations) from consumer receivables (4,559) (3,348)
Net cash used in investing activities (13,745) (16,912)
Cash flows from financing activities    
Proceeds from exercise of stock options 417 2,392
Proceeds from issuance of common stock in connection with ESPP 6,340 5,768
Cash paid for repurchase of common stock (42,499) 0
Proceeds from revolving credit facility borrowings 2,363,000 1,059,000
Repayments of revolving credit facility borrowings (2,518,000) (1,059,000)
Net change in customer funds assets and liabilities 230,803 52,120
Taxes paid related to net share settlement of equity awards (952) (1,089)
Net cash provided by financing activities 39,109 59,191
Effect of foreign exchange rate changes on cash, cash equivalents, and restricted cash (809) 2,728
Net increase in cash, cash equivalents, and restricted cash 106,447 125,790
Cash, cash equivalents, and restricted cash at beginning of period 544,299 369,817
Cash, cash equivalents, and restricted cash at end of period 650,746 495,607
Reconciliation of cash, cash equivalents, and restricted cash    
Cash and cash equivalents 649,062 493,905
Restricted cash included in prepaid expenses and other current assets 694 632
Restricted cash included in other noncurrent assets, net 990 1,070
Total cash, cash equivalents, and restricted cash $ 650,746 $ 495,607