XML 21 R6.htm IDEA: XBRL DOCUMENT v3.25.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities:    
Net loss $ (8,260) $ (36,060)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 5,331 3,537
Share-based compensation expense 25,915 31,313
Executive chairman long-term performance award 0 13,121
Non-cash operating leases expense 535 674
Accretion of discount on short-term investments (396) (978)
Other 364 181
Changes in operating assets and liabilities:    
Accounts receivable 1,312 (4,271)
Settlements receivable 1,795 (6,589)
Network incentives receivable 1,836 (416)
Prepaid expenses and other assets (2,543) 538
Accounts payable 1,023 115
Revenue share payable 16,016 16,219
Accrued expenses and other liabilities (31,837) (16,020)
Operating lease liabilities (1,104) (938)
Net cash provided by operating activities 9,987 426
Cash flows from investing activities:    
Purchases of property and equipment (1,266) (1,191)
Capitalization of internal-use software (6,059) (5,307)
Maturities of short-term investments 22,186 40,000
Net cash provided by investing activities 14,861 33,502
Cash flows from financing activities:    
Proceeds from exercise of stock options, including early exercised stock options, net of repurchase of early exercised unvested options 1,444 49
Taxes paid related to net share settlement of restricted stock units (7,101) (10,917)
Repurchase of common stock (111,310) (33,675)
Net cash used in financing activities (116,967) (44,543)
Net decrease in cash, cash equivalents, and restricted cash (92,119) (10,615)
Cash, cash equivalents, and restricted cash- Beginning of period 931,516 989,472
Cash, cash equivalents, and restricted cash - End of period 839,397 978,857
Reconciliation of cash, cash equivalents, and restricted cash    
Cash and cash equivalents 830,897 970,357
Restricted cash 8,500 8,500
Total cash, cash equivalents, and restricted cash 839,397 978,857
Supplemental disclosures of non-cash investing and financing activities:    
Purchase of property and equipment accrued and not yet paid 1,142 2,982
Share-based compensation capitalized to internal-use software 2,522 2,080
Repurchase of common stock, including excise tax, accrued and not yet paid $ 1,006 $ 146