CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Cash flows from operating activities:
Net income (loss)	$ 48,045	$ (22,183)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation	2,215	597
Amortization of intangible assets	5,678	5,747
Stock-based compensation	31,006	5,494
Amortization of debt issuance costs	997	1,993
Losses on derivatives	2,873	2,339
Amortization of unrealized losses on cash flow hedge	(7,166)	(1,819)
Unrealized foreign exchange (gains) losses	(21,709)	27,674
Deferred income taxes	(3,908)	(9,981)
Fair value change for preferred stocks and preferred stock bifurcated derivatives	(8,031)	1,742
Other	532	3,452
Changes in operating assets and liabilities:
Accounts receivable	(2,782)	(1,243)
Inventory	409	(3,167)
Prepaid expenses and other current assets	(8,057)	(9,306)
Other non-current assets	301	(6,517)
Operating lease right-of-use assets	1,164	1,029
Accounts payable	(4,443)	(73,990)
Payments due to buyers and sellers	273,649	191,552
Accrued expenses and other current liabilities	(20,397)	21,818
Other non-current liabilities	9,220	23,774
Operating lease liabilities	(1,180)	(684)
Net cash provided by operating activities	298,416	158,321
Cash flows from investing activities:
Capitalized software development costs	(7,629)	(6,229)
Purchases of property and equipment	(169)	(507)
Purchases of intangible assets	(44)	(475)
Net cash used in investing activities	(7,842)	(7,211)
Cash flows from financing activities:
Proceeds from issuance of Class A common stock upon exercise of stock options and warrants	32	33
Repurchase and retirement of Class A common stock	0	(1,000)
Repayment of long-term debt obligations	0	(4,882)
Payment of tax withholding obligations on vested equity awards	(2,608)	0
Payments of deferred offering costs	(2,055)	0
Net cash used in financing activities	(4,631)	(5,849)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	(1,506)	4,255
Net increase in cash, cash equivalents, and restricted cash	284,437	149,516
Cash, cash equivalents, and restricted cash at beginning of period	1,259,129	1,015,911
Cash, cash equivalents, and restricted cash at end of period	1,543,566	1,165,427
Reconciliation of cash, cash equivalents, and restricted cash to the condensed consolidated balance sheets:
Cash and cash equivalents	1,526,237	1,150,071
Restricted cash in prepaid expenses and other current assets	0	324
Restricted cash	17,329	15,032
Total cash, cash equivalents, and restricted cash	1,543,566	1,165,427
Cash paid for:
Interest	31,013	52,754
Non-cash investing and financing activities:
Stock-based compensation capitalized in development of capitalized software	6,723	183
Deferred offering costs accrued, unpaid	$ 352	$ 7,099