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) $ (221,526) $ 727,056
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 191,028 181,345
Amortization of discounts and premiums (603,136) (548,138)
Non-cash lease expense and other non-cash adjustments 118,256 29,950
Share-based compensation 598,451 612,577
Loss (gain) on revaluation of equity investments 9,805 (1,456)
Remeasurement loss (gain) on bitcoin investment 261,292 (118,814)
Transaction, loan, and consumer receivable losses 1,085,575 463,779
Change in deferred income taxes 49,545 52,019
Purchases and originations of loans originally classified as held for sale (3,651,413) (10,634,603)
Proceeds from repayments of loans originally classified as held for sale 3,665,214 10,163,789
Changes in operating assets and liabilities:    
Settlements receivable (145,045) (258,566)
Customers payable 41,096 315,632
Prepaid expenses (30,849) (126,309)
Other assets and liabilities 617,123 (350,603)
Net cash provided by operating activities 1,985,416 507,658
Cash flows from investing activities:    
Purchases of marketable debt securities (243,338) (282,149)
Proceeds from maturities of marketable debt securities 370,645 278,624
Proceeds from sale of marketable debt securities 44,352 373,759
Payments for originations of consumer receivables (16,363,722) (14,638,790)
Proceeds from principal repayments and sales of consumer receivables 17,049,383 15,494,483
Purchases and originations of loans originally classified as held for investment (21,877,108) (1,164,089)
Proceeds from repayments of loans originally classified as held for investment 20,773,837 457,152
Purchases of property and equipment (83,786) (63,192)
Other investing activities 323,413 (26,870)
Net cash provided by (used in) investing activities (6,324) 428,928
Cash flows from financing activities:    
Repayments of senior notes (1,000,000) 0
Payments to redeem convertible notes (575,000) (1,000,624)
Proceeds from warehouse facilities borrowings 939,190 435,497
Repayments of warehouse facilities borrowings (1,155,192) (1,242,317)
Proceeds from the exercise of stock options and purchases under the employee stock purchase plan 50,276 51,082
Net increase in interest-bearing deposits 89,990 54,792
Repurchases of common stock (700,935) (1,137,502)
Other financing activities (15,427) (35,330)
Change in customer funds, restricted from use in the Company's operations 758,455 754,942
Net cash used in financing activities (1,608,643) (2,119,460)
Effect of foreign exchange rate on cash and cash equivalents (526) 94,932
Net increase (decrease) in cash, cash equivalents, restricted cash, and customer funds 369,923 (1,087,942)
Cash, cash equivalents, restricted cash, and customer funds, beginning of the period 12,481,276 13,230,512
Cash, cash equivalents, restricted cash, and customer funds, end of the period 12,851,199 12,142,570
Reconciliation of cash, cash equivalents, restricted cash, and customer funds:    
Cash and cash equivalents 6,427,331 6,384,224
Short-term restricted cash 821,679 745,519
Long-term restricted cash 71,911 75,013
Customer funds cash and cash equivalents 5,530,278 4,937,814
Total $ 12,851,199 $ 12,142,570