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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 980,972 $ 1,183,846
Restricted cash 8,500 7,800
Short-term investments 268,724 440,858
Accounts receivable, net 19,540 15,569
Settlements receivable, net 29,922 18,028
Network incentives receivable 53,807 42,661
Prepaid expenses and other current assets 27,233 38,007
Total current assets 1,388,698 1,746,769
Operating lease right-of-use assets, net 6,488 9,015
Property and equipment, net 18,764 7,440
Intangible assets, net 35,631 0
Goodwill 123,523 0
Other assets 16,587 7,122
Total assets 1,589,691 1,770,346
Current liabilities:    
Accounts payable 1,420 3,798
Revenue share payable 173,645 142,194
Accrued expenses and other current liabilities 161,514 136,887
Total current liabilities 336,579 282,879
Operating lease liabilities, net of current portion 5,126 9,034
Other liabilities 4,591 5,477
Total liabilities 346,296 297,390
Commitments and contingencies
Stockholders’ equity:    
Preferred stock, $0.0001 par value; 100,000,000 and 100,000,000 shares authorized, no shares issued and outstanding as of December 31, 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, 465,985,131 and 486,530,334 shares issued and outstanding as of December 31, 2023 and December 31, 2022, respectively. 600,000,000 and 600,000,000 Class B shares authorized, 54,357,844 and 54,833,765 shares issued and outstanding as of December 31, 2023 and December 31, 2022, respectively 52 53
Additional paid-in capital 2,067,776 2,082,373
Accumulated other comprehensive income (loss) 762 (7,237)
Accumulated deficit (825,195) (602,233)
Total stockholders’ equity 1,243,395 1,472,956
Total liabilities and stockholders’ equity $ 1,589,691 $ 1,770,346