v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:      
Net income (loss) $ (11,241) $ 23,799 $ (28,878)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Stock-based compensation 229,778 242,532 248,375
Amortization of intangible assets 60,659 61,925 79,956
Depreciation of property and equipment 21,997 13,010 13,838
Amortization of capitalized internal-use software costs paid in cash 33,896 14,508 9,369
Amortization of debt discount and issuance costs 6,434 4,739 6,238
Accretion of discount on investments in marketable debt securities (23,893) (37,000) (55,062)
Accretion of discount on loans held for investment (28,238) (21,215) (9,209)
Gain on debt extinguishment 0 (40,550) (46,654)
Provision for expected credit losses on acquired card receivables and other financial assets 54,588 45,708 52,221
Provision for expected credit losses on loans held for investment 16,468 27,041 7,884
Non-cash operating lease expense 8,265 8,164 8,642
Other 124 395 1,395
Changes in assets and liabilities:      
Accounts receivable 1,418 (4,458) 69
Prepaid expenses and other current assets 3,135 (26,986) (6,825)
Other assets 1,167 8,417 7,528
Accounts payable (5,871) 8,213 (1,125)
Other accruals and current liabilities 61,190 30,222 20,992
Operating lease liabilities (9,950) (9,412) (9,839)
Other long-term liabilities (1,084) 46 (14,580)
Deferred revenue (3,010) 1,546 (5,564)
Net cash provided by operating activities 415,832 350,644 278,771
Cash flows from investing activities:      
Purchases of corporate and customer fund short-term investments (1,617,044) (2,847,736) (2,682,659)
Proceeds from maturities and sales of corporate and customer fund short-term investments 1,790,861 2,214,628 2,513,646
Purchase of intangible assets 0 (2,868) 0
Purchases of loans held for investment (1,041,055) (798,926) (359,654)
Principal repayments of loans held for investment 1,051,637 787,513 326,172
Acquired card receivables, net (150,032) (129,439) (185,486)
Purchases of property and equipment (3,334) (4,335) (976)
Capitalization of internal-use software costs (57,822) (33,767) (19,917)
Other (1,809) (2,460) (500)
Net cash used in investing activities (28,598) (817,390) (409,374)
Cash flows from financing activities:      
Proceeds from issuance of convertible senior notes 0 1,400,000 0
Cash paid for convertible senior notes issuance costs 0 (24,006) 0
Payments for repurchase and settlement of convertible senior notes (33,463) (539,403) (933,187)
Proceeds from unwind of capped calls 0 0 11,442
Purchase of capped calls 0 (92,960) 0
Customer fund deposits liability and other 285,549 318,683 353,964
Prepaid card deposits 27,125 28,517 (17,901)
Repurchase of common stock (560,485) (430,002) (211,902)
Proceeds from line of credit borrowings 150,000 0 45,000
Cash paid for line of credit issuance costs (811) (1,721) 0
Proceeds from exercise of stock options 2,945 3,701 8,114
Tax withholdings related to net share settlements of equity awards (55,616) (7,840) (3,862)
Proceeds from issuance of common stock under the employee stock purchase plan 11,921 11,553 16,495
Contingent consideration payout 0 0 (10,762)
Net cash provided by (used in) financing activities (172,835) 666,522 (742,599)
Effect of exchange rate changes on cash, cash equivalents, restricted cash and restricted cash equivalents (50) (290) (240)
Net increase (decrease) in cash, cash equivalents, restricted cash, and restricted cash equivalents 214,349 199,486 (873,442)
Cash, cash equivalents, restricted cash, and restricted cash equivalents, beginning of year 3,550,884 3,351,398 4,224,840
Cash, cash equivalents, restricted cash, and restricted cash equivalents, end of year 3,765,233 3,550,884 3,351,398
Reconciliation of cash, cash equivalents, restricted cash, and restricted cash equivalents within the consolidated balance sheets to the amounts shown in the consolidated statements of cash flows above:      
Cash and cash equivalents 1,031,053 1,038,346 985,941
Restricted cash included in other current assets 137,635 101,620 174,101
Restricted cash included in other assets 3,304 4,885 5,297
Restricted cash and restricted cash equivalents included in funds held for customers 2,593,241 2,406,033 2,186,059
Total cash, cash equivalents, restricted cash, and restricted cash equivalents, end of year 3,765,233 3,550,884 3,351,398
Supplemental disclosure of cash flow information:      
Cash paid for interest during the period 18,963 13,782 12,611
Cash paid for income taxes during the period 1,108 6,321 5,628
Noncash investing and financing activities:      
Payable on purchases of property and equipment and internal-use software costs 3,407 5,234 906
Payable on purchases of acquired card receivables 40,397 9,213 105,406
Payable on repurchase of common stock 9,998 5,000 0
Payable on excise tax 4,437 2,653 0
Issuance and exercise of warrants $ 0 $ 13,125 $ 8,750