v3.26.3
Condensed Consolidated Statements of Operations and Comprehensive Income) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Sep. 30, 2026
Sep. 30, 2025
Revenue:        
Revenue from fees, net $ 364,030 $ 258,539 $ 989,112 $ 684,791
Interest income, interest expense, and fair value adjustments, net:        
Interest income [1],[2] 56,561 57,203 169,673 143,394
Interest expense [1],[2] (12,879) (8,794) (35,780) (23,586)
Fair value and other adjustments, net [1] (37,190) (29,843) (79,561) (56,832)
Total interest income, interest expense, and fair value adjustments, net 6,492 18,566 54,332 62,976
Total revenue 370,522 277,105 1,043,444 747,767
Operating expenses:        
Sales and marketing 102,080 78,844 321,047 210,919
Customer operations 63,339 49,790 179,753 136,537
Engineering and product development 92,652 64,026 266,624 190,689
General, administrative, and other 76,452 60,779 232,900 185,910
Total operating expenses 334,523 253,439 1,000,324 724,055
Income from operations 35,999 23,666 43,120 23,712
Other income, net 1,244 1,017 4,714 4,209
Gain on debt extinguishment 0 7,246 0 7,246
Net income before income taxes 37,243 31,929 47,834 35,167
Provision for income taxes 665 124 1,363 202
Net income $ 36,578 $ 31,805 $ 46,471 $ 34,965
Net income per share, basic (in dollars per share) $ 0.37 $ 0.33 $ 0.48 $ 0.37
Net income per share, diluted (in dollars per share) $ 0.33 $ 0.23 $ 0.44 $ 0.28
Weighted-average number of shares outstanding used in computing net income per share, basic (in shares) 97,998,632 96,682,774 97,162,308 95,503,380
Weighted-average number of shares outstanding used in computing net income per share, diluted (in shares) 125,411,247 109,724,669 109,828,530 105,921,585
[1] Balances for the three and nine months ended September 30, 2025 and 2026 include amounts related to the consolidated securitization. Refer to “Note 2. Revenue” for details.
[2] For the three and nine months ended September 30, 2026, interest income and interest expense include dividend income earned on certain cash accounts and expense on convertible senior notes, respectively, which were previously included in other income, net. Refer to “Note 1. Description of Business and Significant Accounting Policies” for details.