v3.26.1
CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Unrestricted cash and cash equivalents $ 1,143,395 $ 1,421,690
Restricted cash 31 44
Settlement assets 970,363 947,497
Accounts receivable, net 137,754 197,248
Prepaid expenses and other assets 63,946 73,275
Income tax receivable 1,631 589
Total current assets 2,317,120 2,640,343
Investment securities available-for-sale, at fair value 3,033,341 2,467,843
Loans to bank customers, net of allowance for credit losses of $38,005 and $21,053 as of June 30, 2026 and December 31, 2025, respectively 44,252 55,700
Prepaid expenses and other assets 151,482 154,567
Property, equipment, and internal-use software, net 200,197 198,352
Operating lease right-of-use assets 940 1,053
Deferred expenses 718 789
Net deferred tax assets 80,663 92,188
Goodwill and intangible assets 363,342 374,401
Total assets 6,192,055 5,985,236
Current liabilities:    
Accounts payable 59,042 114,714
Deposits 4,640,329 4,416,294
Obligations to customers 286,709 284,978
Settlement obligations 46,827 52,916
Other accrued liabilities 149,797 153,752
Operating lease liabilities 356 325
Deferred revenue 4,307 4,224
Income tax payable 0 2,366
Total current liabilities 5,187,367 5,029,569
Other accrued liabilities 132 282
Operating lease liabilities 1,416 1,599
Notes payable 63,739 63,541
Total liabilities 5,252,654 5,094,991
Commitments and contingencies (Note 17)
Stockholders’ equity:    
Class A common stock, $0.001 par value; 100,000 shares authorized as of June 30, 2026 and December 31, 2025; 56,985 and 55,565 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively 57 56
Additional paid-in capital 430,971 427,477
Retained earnings 696,402 644,736
Accumulated other comprehensive loss (188,029) (182,024)
Total stockholders’ equity 939,401 890,245
Total liabilities and stockholders’ equity $ 6,192,055 $ 5,985,236