v3.26.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2026
Jun. 30, 2025
Current assets:    
Cash and cash equivalents $ 1,031,053 $ 1,038,346
Short-term investments 906,456 1,180,110
Accounts receivable, net 30,995 32,341
Acquired card receivables, net of allowances of $13,742 and $15,020 as of June 30, 2026 and 2025, respectively 811,807 685,108
Prepaid expenses and other current assets 302,158 258,418
Funds held for customers 4,352,633 4,044,470
Total current assets 7,435,102 7,238,793
Non-current assets:    
Operating lease right-of-use assets, net 47,821 56,086
Property and equipment, net 144,945 116,611
Intangible assets, net 162,146 222,805
Goodwill 2,396,509 2,396,509
Other assets 31,616 33,178
Total assets 10,218,139 10,063,982
Current liabilities:    
Accounts payable 9,637 16,293
Accrued compensation and benefits 32,930 39,581
Deferred revenue 19,377 22,435
Other accruals and current liabilities 387,259 252,455
Borrowings from credit facilities 0 180,005
Convertible senior notes, net 123,057 33,421
Customer fund deposits 4,352,633 4,044,470
Total current liabilities 4,924,893 4,588,660
Non-current liabilities:    
Deferred revenue 333 285
Operating lease liabilities 48,468 58,372
Borrowings from credit facilities 330,000 0
Convertible senior notes, net 1,383,066 1,501,044
Other long-term liabilities 777 1,581
Total liabilities 6,687,537 6,149,942
Commitments and contingencies (Note 14)
Stockholders' equity:    
Preferred stock: $0.00001 par value per share; 10,000 shares authorized; none issued and outstanding 0 0
Common stock; $0.00001 par value per share; 500,000 shares authorized; 92,063 and 103,012 shares issued and outstanding at June 30, 2026 and 2025, respectively 2 2
Additional paid-in capital 5,626,327 5,414,645
Accumulated other comprehensive income (loss) (6,415) 10,197
Accumulated deficit (2,089,312) (1,510,804)
Total stockholders' equity 3,530,602 3,914,040
Total liabilities and stockholders' equity $ 10,218,139 $ 10,063,982