CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Cash flows from operating activities:
Net (loss) income	$ (1,905,934)	$ (2,800)	$ 405,201
Adjustments to reconcile net (loss) income to net cash used in operating activities:
Depreciation	2,537	2,249	1,638
Amortization of intangible assets	23,067	22,283	21,115
Stock-based compensation	1,447,668	7,737	34,897
Amortization of debt issuance costs	8,049	9,358	13,215
Losses on derivatives	11,964	14,219	22,606
Amortization of unrealized losses on cash flow hedge	(31,379)	(7,399)	(7,378)
Unrealized foreign exchange losses (gains)	91,395	(40,508)	21,848
Loss on extinguishment of debt	18,492	8,216	0
Deferred income taxes	356,816	57,709	(326,006)
Fair value change for preferred stocks and preferred stock bifurcated derivatives	11,447	9,239	5,629
Other	11,469	4,862	(2,242)
Changes in operating assets and liabilities:
Accounts receivable	(1,154)	6,924	(7,573)
Inventory	(6,083)	(19,838)	0
Prepaid expenses and other current assets	(9,920)	4,135	(1,325)
Other non-current assets	(1,969)	(29,951)	(14,719)
Operating lease right-of-use assets	4,568	4,757	3,265
Accounts payable	(44,313)	73,457	(25,679)
Payments due to buyers and sellers	106,503	30,160	131,261
Accrued expenses and other current liabilities	37,659	91,447	(13,930)
Other non-current liabilities	65,076	19,724	51,024
Operating lease liabilities	(3,389)	(4,493)	(5,456)
Net cash provided by operating activities	192,569	261,487	307,391
Cash flows from investing activities:
Capitalized software development costs	(31,532)	(2,625)	(2,009)
Purchases of property and equipment	(1,393)	(1,666)	(1,722)
Purchases of intangible assets	(1,455)	(2,086)	(1,706)
Net cash used in investing activities	(34,380)	(6,377)	(5,437)
Cash flows from financing activities:
Proceeds from issuance of common stock upon initial public offering, net of underwriting discounts and commissions	758,000	0	0
Proceeds from issuance of Class A common stock upon exercise of stock options and warrants	159	1,123	504
Proceeds from issuance of debt	0	443,465	0
Proceeds from partial interest rate swap termination	17,750	0	0
Proceeds from revolving credit facility	0	0	40,000
Repayment of revolving credit facility	0	0	(40,000)
Repurchase and retirement of Class A and Class C common stock	(1,005)	0	(1,091)
Repayment of long-term debt obligations	(909,763)	(506,591)	(20,280)
Payment of tax withholding obligations on vested equity awards	(86,264)	0	0
Payments of deferred offering costs	(11,978)	(5,962)	0
Payment of debt issuance costs	0	(2,770)	0
Net cash provided by (used in) financing activities	71,792	(46,710)	94,133
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	13,238	(13,542)	5,862
Net increase in cash, cash equivalents, and restricted cash	243,219	194,858	401,949
Cash, cash equivalents, and restricted cash at beginning of period	1,015,911	821,053	419,104
Cash, cash equivalents, and restricted cash at end of period	1,259,130	1,015,911	821,053
Reconciliation of cash, cash equivalents, and restricted cash to the consolidated balance sheets:
Cash and cash equivalents	1,241,587	1,000,965	775,712
Restricted cash	0	312	29,627
Restricted cash	17,543	14,634	15,714
Total cash, cash equivalents, and restricted cash	1,259,130	1,015,911	821,053
Cash paid for:
Interest	194,094	234,222	206,756
Income tax	19,326	5,327	9,047
Non-cash investing and financing activities:
Liability-classified awards settled with Class A common stock	0	0	841
Stock-based compensation capitalized in development of capitalized software	35,396	0	0
Deferred offering costs accrued, unpaid	2,407	3,934	2,089
Series L Redeemable Preferred Stock
Cash flows from financing activities:
Proceeds from issuance of redeemable preferred stock	0	0	115,000
Series M redeemable preferred stock
Cash flows from financing activities:
Proceeds from issuance of redeemable preferred stock	0	24,025	0
Series N redeemable preferred stock
Cash flows from financing activities:
Proceeds from issuance of redeemable preferred stock	50,000	0	0
Series O redeemable preferred stock
Cash flows from financing activities:
Proceeds from issuance of redeemable preferred stock	$ 254,893	$ 0	$ 0