v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 536,045 $ 466,252
Restricted cash 65,014 14,508
Marketable securities 527,380 587,828
Product collateral 204,823 251,204
Accounts receivable, net 287,773 257,884
Loans held for investment, net 97,398 71,581
Prepaid expenses and other current assets 71,083 106,753
Total current assets 1,789,516 1,756,010
Property, equipment and software, net 97,429 94,320
Operating lease right of use assets, net 78,864 83,429
Other assets 30,840 30,846
Total assets 1,996,649 1,964,605
Current liabilities:    
Accounts payable 36,255 38,680
Accrued and other current liabilities 216,638 201,862
Product obligation 134,324 147,382
Total current liabilities 387,217 387,924
Operating lease liabilities, net of current portion 117,847 123,284
Warehouse facility 50,000 0
Other non-current liabilities 36,763 51,691
Total liabilities 591,827 562,899
Commitments and contingencies (Note 18)
Stockholders’ equity:    
Preferred stock, $0.0001 par value: 100,000,000 shares authorized, no shares issued and outstanding as of June 30, 2026 and December 31, 2025. 0 0
Additional paid-in capital 4,698,137 4,775,607
Accumulated other comprehensive income (loss) (548) 172
Accumulated deficit (3,292,798) (3,374,104)
Total stockholders’ equity 1,404,822 1,401,706
Total liabilities and stockholders’ equity 1,996,649 1,964,605
Common Class A    
Stockholders’ equity:    
Common stock, issued 28 28
Common Class B    
Stockholders’ equity:    
Common stock, issued 3 3
Common Class C    
Stockholders’ equity:    
Common stock, issued $ 0 $ 0