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) attributable to common stockholders $ (46,540) $ 124,072
Adjustments to reconcile net income (loss) to net cash flows provided by (used in) operating activities:    
Depreciation and amortization 152,003 135,415
Non-cash interest (income) expense, net 2,451 939
Stock-based compensation 147,769 163,547
(Gain) loss on remeasurement of warrant liabilities 0 3,356
(Gain) loss from equity method investments (6,968) 236
Deferred income taxes (215) 96
Other non-cash (gain) loss, net (26,303) (16,422)
Change in operating assets and liabilities, net of effect of acquisitions:    
Accounts receivable 23,498 (11,111)
Prepaid expenses and other current assets (4,009) (7,625)
Deposits and other non-current assets 2,220 2,759
Accounts payable and accrued expenses (95,746) (98,441)
Liabilities to users (94,740) (254,484)
Long-term income tax liability 9,341 7,953
Other long-term liabilities 240 4,615
Net cash flows provided by (used in) operating activities 63,001 54,905
Cash Flows from Investing Activities:    
Purchases of property and equipment (11,671) (6,963)
Cash paid for internally developed software costs (75,064) (60,414)
Cash paid for gaming market access and licenses (1,992) (2,234)
Other investing activities (4,717) (4,667)
Net cash flows provided by (used in) investing activities (93,444) (74,278)
Cash Flows from Financing Activities:    
Proceeds from Term B Loan, net 0 588,116
Repayment of Term B Loan principal (3,000) (1,500)
Purchase of treasury stock for RSU withholding (43,480) (101,852)
Purchase of treasury stock under Stock Repurchase Program (154,218) (242,741)
Proceeds from exercise of stock options 4,067 6,304
Proceeds from shares issued under Employee Stock Purchase Plan 9,987 6,900
Other financing activities 0 (2,093)
Net cash flows provided by (used in) financing activities (186,644) 253,134
Net increase (decrease) in cash and cash equivalents, restricted cash, and cash reserved for users (217,087) 233,761
Cash and cash equivalents, restricted cash, and cash reserved for users at the beginning of period 1,604,595 1,330,193
Cash and cash equivalents, restricted cash, and cash reserved for users at the end of period 1,387,508 1,563,954
Disclosure of cash and cash equivalents, restricted cash, and cash reserved for users    
Cash and cash equivalents 983,882 1,261,969
Restricted cash 8,596 4,616
Cash reserved for users 395,030 297,369
Cash and cash equivalents, restricted cash, and cash reserved for users at the end of period 1,387,508 1,563,954
Supplemental Disclosure of Noncash Investing and Financing Activities:    
Decrease in warrant liabilities from cashless exercise of warrants 0 11,185
Shares issued for contingent consideration 9,420 4,962
Stock-based compensation capitalized to internally developed software costs 13,553 11,955
Supplemental Disclosure of Cash Activities:    
(Decrease) increase in cash reserved for users (74,419) (228,038)
Cash paid for interest 17,624 9,421
Cash paid for income taxes, net of refunds $ 2,440 $ 8,186