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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Current assets    
Cash and cash equivalents $ 124,743 $ 149,759
Restricted cash 229 1,241
Short-term investments 0 41,952
Accounts receivable, net of allowances for credit losses of $4,571 and $3,234 48,730 51,738
Loans held for sale 152,426 159,587
Prepaid expenses 26,853 33,296
Other current assets 22,457 7,472
Total current assets 375,438 445,045
Property and equipment, net 41,302 46,431
Right-of-use assets, net 23,713 31,763
Mortgage servicing rights, at fair value 2,736 32,171
Long-term investments 0 3,149
Goodwill 461,349 461,349
Intangible assets, net 99,543 123,284
Other assets, noncurrent 8,376 10,456
Total assets 1,012,457 1,153,648
Current liabilities    
Accounts payable 16,847 10,507
Accrued and other liabilities 82,709 90,360
Warehouse credit facilities 146,629 151,964
Convertible senior notes, net 73,516 0
Lease liabilities 12,862 15,609
Total current liabilities 332,563 268,440
Lease liabilities, noncurrent 19,855 29,084
Convertible senior notes, net, noncurrent 498,691 688,737
Term loan 243,344 124,416
Deferred tax liabilities 672 264
Total liabilities 1,095,125 1,110,941
Commitments and contingencies (Note 7)
Series A convertible preferred stock—par value $0.001 per share; 10,000,000 shares authorized; 0 and 40,000 shares issued and outstanding at December 31, 2024 and 2023, respectively 0 39,959
Stockholders’ (deficit) equity    
Common stock—par value $0.001 per share; 500,000,000 shares authorized; 126,389,289 and 117,372,171 shares issued and outstanding at December 31, 2024 and 2023, respectively 126 117
Additional paid-in capital 905,506 826,146
Accumulated other comprehensive loss (166) (182)
Accumulated deficit (988,134) (823,333)
Total stockholders’ (deficit) equity (82,668) 2,748
Total liabilities, mezzanine equity, and stockholders’ (deficit) equity $ 1,012,457 $ 1,153,648