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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 950,157 $ 1,183,846
Restricted cash 9,375 7,800
Short-term investments 432,354 440,858
Accounts receivable, net 15,253 15,569
Settlements receivable, net 10,515 18,028
Network incentives receivable 67,063 42,661
Prepaid expenses and other current assets 29,098 38,007
Total current assets 1,513,815 1,746,769
Property and equipment, net 14,330 7,440
Operating lease right-of-use assets, net 7,784 9,015
Goodwill 123,446 0
Other assets 44,768 7,122
Total assets 1,704,143 1,770,346
Current liabilities:    
Accounts payable 2,818 3,798
Revenue share payable 125,853 142,194
Accrued expenses and other current liabilities 189,669 136,887
Total current liabilities 318,340 282,879
Operating lease liabilities, net of current portion 7,132 9,034
Other liabilities 6,056 5,477
Total liabilities 331,528 297,390
Commitments and contingencies (Note 7)
Stockholders’ equity:    
Preferred stock, $0.0001 par value; 100,000,000 and 100,000,000 shares authorized, no shares issued and outstanding as of June 30, 2023 and December 31, 2022, respectively 0 0
Common stock, $0.0001 par value: 1,500,000,000 and 1,500,000,000 Class A shares authorized, 479,526,954 and 486,530,334 shares issued and outstanding as of June 30, 2023 and December 31, 2022, respectively. 600,000,000 and 600,000,000 Class B shares authorized, 54,689,722 and 54,833,765 shares issued and outstanding as of June 30, 2023 and December 31, 2022, respectively 52 53
Additional paid-in capital 2,103,870 2,082,373
Accumulated other comprehensive loss (1,476) (7,237)
Accumulated deficit (729,831) (602,233)
Total stockholders’ equity 1,372,615 1,472,956
Total liabilities and stockholders’ equity $ 1,704,143 $ 1,770,346