v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Operating activities    
Net (loss) income $ 51,666 $ (21,252)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization of property, equipment and internal-use software 36,798 31,262
Amortization of intangible assets 10,278 10,399
Provision for uncollectible overdrawn accounts from purchase transactions 4,810 6,610
Provision for loan losses 23,765 15,087
Stock-based compensation 7,826 8,757
Losses in equity method investments 3,097 78,702
Realized loss on available-for-sale investment securities 0 24,779
Amortization of premium and discount on available-for-sale investment securities 2,084 (589)
Impairment of long-lived assets 1,047 866
Other (2,794) (2,735)
Changes in operating assets and liabilities:    
Accounts receivable, net 54,684 22,328
Prepaid expenses and other assets 11,673 12,157
Deferred expenses 71 374
Accounts payable and other accrued liabilities (20,425) 6,342
Deferred revenue (67) (1,983)
Income tax receivable/payable 10,211 (13,644)
Other, net (39) 241
Net cash provided by operating activities 194,685 177,701
Investing activities    
Purchases of available-for-sale investment securities (671,567) (274,820)
Proceeds from maturities of available-for-sale securities 95,929 103,283
Proceeds from sales and calls of available-for-sale securities 0 730,447
Payments for property, equipment and internal-use software (38,878) (38,912)
Net changes in loans (12,317) (17,413)
Other investing activities (957) (921)
Net cash (used in) provided by investing activities (627,790) 501,664
Financing activities    
Borrowings on notes payable 0 14,860
Proceeds from ESPP purchases 820 2,633
Taxes paid related to net share settlement of equity awards (5,151) (2,633)
Net changes in deposits 185,569 86,303
Net changes in settlement assets and obligations to customers (26,441) (59,978)
Deferred financing costs 0 (423)
Net cash provided by financing activities 154,797 40,762
Net (decrease) increase in unrestricted cash, cash equivalents and restricted cash (278,308) 720,127
Unrestricted cash, cash equivalents and restricted cash, beginning of period 1,421,734 1,592,435
Unrestricted cash, cash equivalents and restricted cash, end of period 1,143,426 2,312,562
Cash paid for interest 8,337 6,549
Cash paid for income taxes 3,160 5,374
Unrestricted cash and cash equivalents 1,143,395 2,312,518
Restricted cash 31 44
Total unrestricted cash, cash equivalents and restricted cash, end of period $ 1,143,426 $ 2,312,562