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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net income (loss) $ 83,048 $ (127,598)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization 7,493 4,474
Share-based compensation expense 67,604 63,776
Executive chairman long-term performance award (144,617) 26,388
Non-cash postcombination compensation expense 0 32,430
Non-cash operating leases expense 258 1,231
Amortization of premium (accretion of discount) on short-term investments (1,823) (2,311)
Other (45) 499
Changes in operating assets and liabilities:    
Accounts receivable (6,692) 63
Settlements receivable 2,157 7,513
Network incentives receivable 19,639 (24,402)
Prepaid expenses and other assets 2,478 14,467
Accounts payable 1,413 (3,239)
Revenue share payable 2,780 (16,341)
Accrued expenses and other liabilities (6,484) (11,828)
Operating lease liabilities (1,075) (1,642)
Net cash provided by (used in) operating activities 26,134 (36,520)
Cash flows from investing activities:    
Purchases of property and equipment (2,193) (668)
Capitalization of internal-use software (10,471) (6,395)
Business combination, net of cash acquired 0 (131,914)
Purchases of short-term investments 0 (279,548)
Maturities of short-term investments 40,000 296,000
Net cash provided by (used in) investing activities 27,336 (122,525)
Cash flows from financing activities:    
Proceeds from exercise of stock options, including early exercised stock options, net of repurchase of early exercised unvested options 108 2,299
Proceeds from shares issued in connection with employee stock purchase plan 1,629 1,775
Taxes paid related to net share settlement of restricted stock units (20,287) (10,070)
Repurchase of common stock (91,162) (67,073)
Net cash used in financing activities (109,712) (73,069)
Net decrease in cash, cash equivalents, and restricted cash (56,242) (232,114)
Cash, cash equivalents, and restricted cash- Beginning of period 989,472 1,191,646
Cash, cash equivalents, and restricted cash - End of period 933,230 959,532
Reconciliation of cash, cash equivalents, and restricted cash    
Cash and cash equivalents 924,730 950,157
Restricted cash 8,500 9,375
Total cash, cash equivalents, and restricted cash 933,230 959,532
Supplemental disclosures of non-cash investing and financing activities:    
Purchase of property and equipment accrued and not yet paid 2,262 137
Share-based compensation capitalized to internal-use software 3,998 2,282
Repurchase of common stock, including excise tax, accrued and not yet paid $ 2,025 $ 2,417