v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net income (loss) $ 15,401 $ (8,907)
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities:    
Share-based compensation expense 42,373 52,985
Depreciation and amortization 18,550 11,984
Non-cash operating leases expense 1,463 1,021
Accretion of discount on short-term investments (46) (612)
Other 758 898
Changes in operating assets and liabilities:    
Accounts receivable (10,296) (7,642)
Network incentives receivable 28,054 (18,309)
Settlements receivable (274) 1,230
Prepaid expenses and other assets (3,051) 4,278
Accounts payable (685) 2,913
Revenue share payable (2,269) 6,241
Accrued expenses and other liabilities (28,317) (21,323)
Operating lease liabilities (1,852) (2,223)
Net cash provided by operating activities 59,809 22,534
Cash flows from investing activities:    
Maturities of short-term investments 52,893 90,918
Capitalization of internal-use software (16,151) (13,598)
Purchases of property and equipment (1,490) (1,601)
Net cash provided by investing activities 35,252 75,719
Cash flows from financing activities:    
Repurchase of common stock (93,880) (275,233)
Change in funds payable and amounts due to customers (46,538) 0
Taxes paid related to net share settlement of restricted stock units (16,683) (15,887)
Payment of acquisition-related contingent consideration (2,732) 0
Proceeds from shares issued in connection with employee stock purchase plan 855 994
Proceeds from exercise of stock options, including early exercised stock options, net of repurchase of early exercised unvested options 52 1,580
Net cash used in financing activities (158,926) (288,546)
Net decrease in cash, cash equivalents, and restricted cash (63,865) (190,293)
Cash, cash equivalents, and restricted cash- Beginning of period 1,017,931 931,516
Cash, cash equivalents, and restricted cash - End of period 954,066 741,223
Reconciliation of cash, cash equivalents, and restricted cash    
Cash and cash equivalents 691,418 732,722
Restricted cash 260,553 7,606
Restricted cash, included in Other assets 2,095 895
Total cash, cash equivalents, and restricted cash 954,066 741,223
Supplemental disclosures of non-cash investing and financing activities:    
Share-based compensation capitalized to internal-use software 4,994 5,709
Holdback consideration, not yet paid 2,240 0
Repurchase of common stock, including excise tax, accrued and not yet paid 875 2,988
Purchase of property and equipment accrued and not yet paid $ 206 $ 1,167