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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2021
Dec. 31, 2020
Current assets:    
Cash and cash equivalents $ 1,247,581 $ 220,433
Restricted cash 7,800 7,800
Marketable securities 452,875 149,903
Accounts receivable, net 13,187 8,420
Settlements receivable, net 11,266 12,867
Network incentives receivable 30,399 20,022
Prepaid expenses and other current assets 35,617 11,461
Total current assets 1,798,725 430,906
Property and equipment, net 9,687 9,477
Operating lease right-of-use assets, net 11,296 13,411
Equity method investment 8,384 0
Other assets 2,286 3,886
Total assets 1,830,378 457,680
Current liabilities:    
Accounts payable 2,693 2,362
Revenue share payable 121,179 78,191
Accrued expenses and other current liabilities 114,096 60,545
Total current liabilities 237,968 141,098
Redeemable convertible preferred stock warrant liabilities 0 2,517
Operating lease liabilities, net of current portion 12,427 15,449
Other liabilities 6,557 10,452
Total liabilities 256,952 169,516
Commitments and contingencies (Note 7)
Redeemable convertible preferred stock, $0.0001 par value; zero and 352,047,950 shares authorized; zero and 351,844,340 shares issued and outstanding; aggregate liquidation preference of zero and $552,868 as of December 31, 2021 and December 31, 2020, respectively 0 501,881
Stockholders’ equity (deficit):    
Preferred stock, $0.0001 par value; 100,000,000 and zero shares authorized, no shares issued and outstanding as of December 31, 2021 and December 31, 2020, respectively 0 0
Common stock, $0.0001 par value: 1,500,000,000 and zero Class A shares authorized, 421,792,153 and zero shares issued and outstanding as of December 31, 2021 and December 31, 2020, respectively. 600,000,000 and 545,000,000 Class B shares authorized, 119,591,365 and 130,312,838 shares issued and outstanding as of December 31, 2021 and December 31, 2020, respectively 54 13
Additional paid-in capital 1,993,055 39,769
Accumulated other comprehensive income (loss) (2,230) 25
Accumulated deficit (417,453) (253,524)
Total stockholders’ equity (deficit) 1,573,426 (213,717)
Total liabilities, redeemable convertible preferred stock and stockholders’ equity (deficit) $ 1,830,378 $ 457,680