v3.26.3
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Millions
Sep. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 328 $ 287
Investments 50 0
Restricted cash, cash equivalents and investments 1,164 1,694
Accounts receivable, net 7 20
Payroll funds receivable 371 264
Prepaid expenses, net 47 82
Other payroll assets 414 474
Other current assets 50 47
Total current assets 2,431 2,868
Restricted cash, cash equivalents and investments, noncurrent 116 128
Property and equipment, net 27 11
Operating lease right-of-use asset 47 36
Goodwill 465 461
Software and other intangible assets, net 176 153
Other assets 131 140
Total assets 3,393 3,797
Current liabilities:    
Accounts payable and other current liabilities 91 86
Client deposits and other client liabilities 44 57
Accrued wages 561 555
Accrued health insurance costs, net 181 207
Accrued workers' compensation costs, net 42 42
Payroll tax liabilities and other payroll withholdings 1,198 1,671
Operating lease liabilities 11 10
Insurance premiums and other payables 8 9
Total current liabilities 2,136 2,637
Long-term debt, noncurrent 896 895
Accrued workers' compensation costs, noncurrent, net 103 106
Deferred taxes 51 55
Operating lease liabilities, noncurrent 56 37
Other non-current liabilities 18 13
Total liabilities 3,260 3,743
Commitments and contingencies (see Note 5)
Stockholders' equity:    
Preferred Stock,($0.000025 par value per share; 20,000,000 shares authorized; no shares issued or outstanding at September 30, 2026 and December 31, 2025) 0 0
Common stock and additional paid-in capital,($0.000025 par value per share; 750,000,000 shares authorized; 45,816,897 and 47,377,950 shares issued and outstanding at September 30, 2026 and December 31, 2025, respectively) 1,191 1,135
Accumulated deficit (1,052) (1,081)
Accumulated other comprehensive loss (6) 0
Total stockholders' equity 133 54
Total liabilities & stockholders' equity $ 3,393 $ 3,797