v3.26.1
Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 901,281 $ 1,355,428
Short-term investments 221,007 224,088
Accounts receivable, net of expected credit losses of $4,506 and $5,611 as of June 30, 2026 and December 31, 2025, respectively 8,664 8,690
Prepaid and other current assets 100,063 113,953
Funds receivable and seller accounts 193,840 205,002
Current assets of discontinued operations 450,419 53,822
Total current assets 1,875,274 1,960,983
Restricted cash 7,655 8,524
Property and equipment, net of accumulated depreciation and amortization of $257,165 and $235,066 as of June 30, 2026 and December 31, 2025, respectively 200,272 205,552
Goodwill 37,408 38,067
Intangible assets, net of accumulated amortization of $33,919 and $32,479 as of June 30, 2026 and December 31, 2025, respectively 12,013 14,511
Deferred tax assets 104,115 119,051
Long-term investments 160,665 134,376
Other assets 41,765 38,964
Noncurrent assets of discontinued operations 0 307,226
Total assets 2,439,167 2,827,254
Current liabilities:    
Accounts payable 20,449 27,732
Accrued expenses 247,805 342,200
Short-term debt, net 649,594 649,008
Funds payable and amounts due to sellers 193,840 205,002
Deferred revenue 32,478 27,049
Other current liabilities 49,940 60,354
Current liabilities of discontinued operations 76,205 52,274
Total current liabilities 1,270,311 1,363,619
Finance lease obligations—net of current portion 90,302 93,482
Deferred tax liabilities 11,031 8,808
Long-term debt, net 2,335,911 2,333,230
Other liabilities 126,690 125,103
Noncurrent liabilities of discontinued operations 0 1,107
Total liabilities 3,834,245 3,925,349
Commitments and contingencies (Note 12)
Stockholders’ deficit:    
Common stock ($0.001 par value, 1,400,000 shares authorized as of June 30, 2026 and December 31, 2025; 92,370 and 97,031 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively) 92 97
Preferred stock ($0.001 par value, 25,000 shares authorized as of June 30, 2026 and December 31, 2025) 0 0
Additional paid-in capital 1,625,697 1,532,204
Accumulated deficit (2,778,626) (2,404,020)
Accumulated other comprehensive loss (242,241) (226,376)
Total stockholders’ deficit (1,395,078) (1,098,095)
Total liabilities and stockholders’ deficit $ 2,439,167 $ 2,827,254