v3.26.1
CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Current assets:    
Unrestricted cash and cash equivalents $ 1,646,382 $ 1,421,690
Restricted cash 31 44
Settlement assets 879,485 947,497
Accounts receivable, net 196,342 197,248
Prepaid expenses and other assets 106,924 73,275
Income tax receivable 422 589
Total current assets 2,829,586 2,640,343
Investment securities available-for-sale, at fair value 2,969,954 2,467,843
Loans to bank customers, net of allowance for credit losses of $21,645 and $21,053 as of March 31, 2026 and December 31, 2025, respectively 47,464 55,700
Prepaid expenses and other assets 154,327 154,567
Property, equipment, and internal-use software, net 198,978 198,352
Operating lease right-of-use assets 999 1,053
Deferred expenses 727 789
Net deferred tax assets 79,585 92,188
Goodwill and intangible assets 368,995 374,401
Total assets 6,650,615 5,985,236
Current liabilities:    
Accounts payable 101,432 114,714
Deposits 4,528,541 4,416,294
Obligations to customers 294,643 284,978
Settlement obligations 62,048 52,916
Other accrued liabilities 150,941 153,752
Operating lease liabilities 375 325
Deferred revenue 4,351 4,224
Federal Home Loan Bank advances 500,000 0
Income tax payable 2,433 2,366
Total current liabilities 5,644,764 5,029,569
Other accrued liabilities 203 282
Operating lease liabilities 1,508 1,599
Notes payable 63,640 63,541
Total liabilities 5,710,115 5,094,991
Commitments and contingencies (Note 17)
Stockholders’ equity:    
Class A common stock, $0.001 par value; 100,000 shares authorized as of March 31, 2026 and December 31, 2025; 56,661 and 55,565 shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively 57 56
Additional paid-in capital 427,915 427,477
Retained earnings 698,489 644,736
Accumulated other comprehensive loss (185,961) (182,024)
Total stockholders’ equity 940,500 890,245
Total liabilities and stockholders’ equity $ 6,650,615 $ 5,985,236