v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 572 $ 768
Short-term investments 110 527
Accounts receivable, net 175 149
Mortgage loans held for sale 494 386
Prepaid expenses and other current assets 384 287
Restricted cash 6 5
Total current assets 1,741 2,122
Contract cost assets 27 27
Property and equipment, net 356 350
Right of use assets 59 56
Goodwill 2,823 2,823
Intangible assets, net 263 279
Other assets 36 28
Total assets 5,305 5,685
Current liabilities:    
Accounts payable 72 36
Accrued expenses and other current liabilities 194 134
Accrued compensation and benefits 94 62
Borrowings under master repurchase agreements 465 364
Deferred revenue 65 69
Lease liabilities, current portion 16 14
Total current liabilities 906 679
Lease liabilities, net of current portion 77 79
Other long-term liabilities 14 43
Total liabilities 997 801
Commitments and contingencies (Note 11)
Shareholders’ equity:    
Preferred stock, $0.0001 par value; authorized — 30,000,000 shares; no shares issued and outstanding 0 0
Additional paid-in capital 6,126 6,741
Accumulated other comprehensive income (loss) (1) 2
Accumulated deficit (1,817) (1,859)
Total shareholders’ equity 4,308 4,884
Total liabilities and shareholders’ equity 5,305 5,685
Class A common stock    
Shareholders’ equity:    
Common stock/capital stock 0 0
Class B common Stock    
Shareholders’ equity:    
Common stock/capital stock 0 0
Class C capital stock    
Shareholders’ equity:    
Common stock/capital stock $ 0 $ 0