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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net income (loss) $ 54,405 $ (182,587)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 11,941 7,582
Share-based compensation expense 103,258 95,911
Executive chairman long-term performance award (144,617) 39,801
Non-cash postcombination compensation expense 0 32,430
Non-cash operating leases expense 1,017 1,870
Amortization of premium (accretion of discount) on short-term investments (2,650) (5,525)
Other 328 1,068
Changes in operating assets and liabilities:    
Accounts receivable (7,285) (1,108)
Settlements receivable 18,105 (1,477)
Network incentives receivable 7,140 8,086
Prepaid expenses and other assets 3,195 7,760
Accounts payable (3,274) (4,350)
Revenue share payable (6,564) 4,289
Accrued expenses and other liabilities 545 3,331
Operating lease liabilities (2,129) (2,499)
Net cash provided by operating activities 33,415 4,582
Cash flows from investing activities:    
Purchases of property and equipment (2,382) (722)
Capitalization of internal-use software (14,577) (9,488)
Business combination, net of cash acquired 0 (135,630)
Purchases of short-term investments 0 (972,430)
Sales of marketable securities 0 637,913
Maturities of short-term investments 54,000 437,034
Realized gain (loss) on investments 0 (73)
Net cash provided by (used in) investing activities 37,041 (43,396)
Cash flows from financing activities:    
Proceeds from exercise of stock options, including early exercised stock options, net of repurchase of early exercised unvested options 121 4,081
Payment on acquisition-related contingent consideration 0 (53,067)
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 (29,043) (18,553)
Repurchase of common stock (137,718) (131,519)
Net cash used in financing activities (165,011) (197,283)
Net decrease in cash, cash equivalents, and restricted cash (94,555) (236,097)
Cash, cash equivalents, and restricted cash- Beginning of period 989,472 1,191,646
Cash, cash equivalents, and restricted cash - End of period 894,917 955,549
Reconciliation of cash, cash equivalents, and restricted cash    
Cash and cash equivalents 886,417 947,749
Restricted cash 8,500 7,800
Total cash, cash equivalents, and restricted cash 894,917 955,549
Supplemental disclosures of non-cash investing and financing activities:    
Purchase of property and equipment accrued and not yet paid 2,240 77
Share-based compensation capitalized to internal-use software 5,489 3,530
Repurchase of common stock, including excise tax, accrued and not yet paid $ 4,373 $ 2,417