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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net income (loss) $ (207,363,000) $ 39,008,000
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization 70,056,000 29,201,000
Non-cash interest and other (64,351,000) 5,207,000
Non-cash lease expense 22,696,000 20,432,000
Share-based compensation 275,423,000 118,623,000
Loss (gain) on revaluation of equity investments (49,741,000) 28,900,000
Transaction, loan, and consumer receivable losses 91,150,000 20,395,000
Bitcoin impairment losses 0 19,860,000
Change in deferred income taxes (7,653,000) (60,000)
Changes in operating assets and liabilities:    
Settlements receivable (220,361,000) (114,458,000)
Purchases and originations of loans (951,665,000) (812,492,000)
Proceeds from payments and forgiveness of loans 1,112,266,000 531,716,000
Customers payable 136,474,000 80,310,000
Settlements payable 10,360,000 24,564,000
Other assets and liabilities 12,132,000 (20,399,000)
Net cash provided by (used in) operating activities 229,423,000 (29,193,000)
Cash flows from investing activities:    
Purchase of marketable debt securities (209,981,000) (401,161,000)
Proceeds from maturities of marketable debt securities 262,559,000 139,353,000
Proceeds from sale of marketable debt securities 178,352,000 249,342,000
Purchase of marketable debt securities from customer funds 0 (119,411,000)
Proceeds from maturities of marketable debt securities from customer funds 73,000,000 187,500,000
Proceeds from sale of marketable debt securities from customer funds 316,576,000 0
Originations of consumer receivables (1,946,468,000) 0
Principal repayments of consumer receivables 1,943,554,000 0
Purchase of property and equipment (41,187,000) (34,149,000)
Purchase of bitcoin investments 0 (170,000,000)
Purchase of other investments (16,495,000) (28,470,000)
Proceeds from sale of equity investments 0 18,973,000
Net cash acquired through business combination 570,703,000 0
Net cash provided by (used in) investing activities 1,130,613,000 (158,023,000)
Cash flows from financing activities:    
Proceeds from PPP Liquidity Facility advances 0 494,300,000
Repayments of PPP Liquidity Facility advances (372,897,000) (194,186,000)
Payments to redeem convertible notes (1,071,788,000) 0
Proceeds from warehouse facilities borrowings 183,440,000 0
Repayments of warehouse facilities borrowings (90,491,000) 0
Proceeds from the exercise of stock options and purchases under the employee stock purchase plan 4,093,000 32,891,000
Payments for tax withholding related to vesting of restricted stock units (2,456,000) (152,013,000)
Net increase in non-interest bearing deposits 21,633,000 0
Change in customer funds, restricted from use in the Company's operations 359,910,000 938,596,000
Net cash provided by (used in) financing activities (968,556,000) 1,119,588,000
Effect of foreign exchange rate on cash and cash equivalents (948,000) (8,206,000)
Net increase in cash, cash equivalents, restricted cash, and customer funds 390,532,000 924,166,000
Cash, cash equivalents, restricted cash, and customer funds, beginning of period 6,975,090,000 4,793,171,000
Cash, cash equivalents, restricted cash, and customer funds, end of period 7,365,622,000 5,717,337,000
Reconciliation of cash, cash equivalents, restricted cash, and customer funds:    
Cash and cash equivalents 3,993,565,000 3,022,485,000
Short-term restricted cash 109,450,000 32,891,000
Long-term restricted cash 71,702,000 63,509,000
Customer funds cash and cash equivalents 3,190,905,000 2,598,452,000
Total $ 7,365,622,000 $ 5,717,337,000