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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 924,730 $ 980,972
Restricted cash 8,500 8,500
Short-term investments 228,833 268,724
Accounts receivable, net 25,956 19,540
Settlements receivable, net 27,765 29,922
Network incentives receivable 34,168 53,807
Prepaid expenses and other current assets 22,949 27,233
Total current assets 1,272,901 1,388,698
Operating lease right-of-use assets, net 5,653 6,488
Property and equipment, net 33,011 18,764
Intangible assets, net 32,702 35,631
Goodwill 123,523 123,523
Other assets 20,493 16,587
Total assets 1,488,283 1,589,691
Current liabilities:    
Accounts payable 3,685 1,420
Revenue share payable 176,425 173,645
Accrued expenses and other current liabilities 157,736 161,514
Total current liabilities 337,846 336,579
Operating lease liabilities, net of current portion 3,254 5,126
Other liabilities 4,808 4,591
Total liabilities 345,908 346,296
Commitments and contingencies (Note 8)
Stockholders’ equity:    
Preferred stock, $0.0001 par value; 100,000 and 100,000 shares authorized, no shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively 0 0
Common stock, $0.0001 par value: 1,500,000 and 1,500,000 Class A shares authorized, 474,230 and 465,985 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively. 600,000 and 600,000 Class B shares authorized, 36,518 and 54,358 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively 51 52
Additional paid-in capital 1,885,744 2,067,776
Accumulated other comprehensive (loss) income (1,273) 762
Accumulated deficit (742,147) (825,195)
Total stockholders’ equity 1,142,375 1,243,395
Total liabilities and stockholders’ equity $ 1,488,283 $ 1,589,691