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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 947,749 $ 1,183,846
Restricted cash 7,800 7,800
Short-term investments 349,395 440,858
Accounts receivable, net 15,656 15,569
Settlements receivable, net 19,505 18,028
Network incentives receivable 34,575 42,661
Prepaid expenses and other current assets 32,535 38,007
Total current assets 1,407,215 1,746,769
Property and equipment, net 17,022 7,440
Operating lease right-of-use assets, net 7,145 9,015
Goodwill 123,000 0
Other assets 48,867 7,122
Total assets 1,603,249 1,770,346
Current liabilities:    
Accounts payable 1,707 3,798
Revenue share payable 146,483 142,194
Accrued expenses and other current liabilities 148,677 136,887
Total current liabilities 296,867 282,879
Operating lease liabilities, net of current portion 6,145 9,034
Other liabilities 5,154 5,477
Total liabilities 308,166 297,390
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 September 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, 472,191,347 and 486,530,334 shares issued and outstanding as of September 30, 2023 and December 31, 2022, respectively. 600,000,000 and 600,000,000 Class B shares authorized, 54,394,305 and 54,833,765 shares issued and outstanding as of September 30, 2023 and December 31, 2022, respectively 53 53
Additional paid-in capital 2,081,689 2,082,373
Accumulated other comprehensive loss (1,838) (7,237)
Accumulated deficit (784,821) (602,233)
Total stockholders’ equity 1,295,083 1,472,956
Total liabilities and stockholders’ equity $ 1,603,249 $ 1,770,346