v3.26.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 88,675 $ 99,791
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for transaction losses 4,993 5,707
Depreciation and amortization 29,232 18,686
Amortization of debt issuance costs 1,330 1,381
Accretion of discount on purchases of marketable securities, net (3,017) (5,699)
Amortization of operating lease asset 1,280 564
Tides Foundation common stock warrant expense 563 563
Stock-based compensation expense 38,717 48,038
Deferred taxes 3,190 (399)
Loss on disposal of fixed assets 178 0
Changes in operating assets and liabilities:    
Trade and client receivables (2,741) (1,654)
Prepaid expenses and other assets 192 40
Operating lease liability (1,253) 600
Accounts payable 1,466 (504)
Accrued expenses and other liabilities (27,820) 16,777
Deferred revenue 855 667
Net cash provided by operating activities 135,840 184,558
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of marketable securities 0 (365,939)
Proceeds from maturities of marketable securities 302,111 302,725
Proceeds from sale of marketable securities 1,986 3,601
Purchase of equity investment (250) 0
Acquisition of business, net of cash acquired 0 (59,846)
Purchases of property and equipment (7,493) (5,335)
Internal-use software and platform development costs (25,650) (13,376)
Net cash provided by (used in) investing activities 270,704 (138,170)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Change in escrow funds payable, net (19,553) 23,025
Proceeds from exercises of stock options and common stock warrants 793 729
Proceeds from employee stock purchase plan 1,646 2,199
Repayment of convertible senior notes (360,998) 0
Repurchase of common stock (109,725) (101,923)
Payment of debt issuance costs (1,223) 0
Net cash used in financing activities (489,060) (75,970)
NET CHANGE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH (82,516) (29,582)
Cash, cash equivalents, and restricted cash—beginning of period 478,908 505,593
Cash, cash equivalents, and restricted cash—end of period 396,392 476,011
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Cash paid for income taxes 18,158 10,368
Cash paid for interest 1,030 899
SUPPLEMENTAL DISCLOSURES OF NON-CASH ACTIVITIES:    
Right-of-use asset recognized 8,042 0
Property and equipment purchased but not yet paid 346 54
Internal-use software and platform development costs incurred but not yet paid $ 723 $ 479