v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets    
Cash and cash equivalents $ 476,040 $ 294,356
Marketable securities 138,204 378,425
Funds held in escrow, including funds in transit 193,269 180,752
Trade and client receivables – net of allowance of $6,754 and $5,919 as of June 30, 2026 and December 31, 2025, respectively 76,459 76,236
Prepaid expenses and other current assets 25,018 21,064
Total current assets 908,990 950,833
Property and equipment, net 58,605 44,421
Goodwill 149,192 149,192
Intangible assets, net 31,318 37,161
Operating lease asset 12,217 5,011
Deferred tax asset 109,860 111,495
Other assets, noncurrent 4,222 1,467
Total assets 1,274,404 1,299,580
Current liabilities    
Accounts payable 7,030 7,858
Escrow funds payable 193,269 180,752
Debt, current 360,691 359,770
Accrued expenses and other current liabilities 68,683 94,023
Deferred revenue 8,576 7,765
Total current liabilities 638,249 650,168
Operating lease liability, noncurrent 14,367 9,707
Other liabilities, noncurrent 10,522 9,390
Total liabilities 663,138 669,265
Commitments and contingencies (Note 8)
Stockholders’ equity    
Common stock, $0.0001 par value; 490,000,000 shares authorized as of June 30, 2026 and December 31, 2025; 124,797,586 and 130,545,236 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively 12 13
Additional paid-in capital 517,479 592,599
Accumulated and other comprehensive (loss) income (39) 754
Retained earnings 93,814 36,949
Total stockholders’ equity 611,266 630,315
Total liabilities and stockholders’ equity $ 1,274,404 $ 1,299,580