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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 249,686 $ 495,242
Short-term investments 24,545 115,848
Accounts receivable, net of allowance of $553 and $410, respectively 29,700 23,703
Unbilled receivables, net of allowance of $38 and $36, respectively 17,732 15,453
Funds receivable from payment partners 88,236 90,110
Prepaid expenses and other current assets 38,857 22,528
Total current assets 448,756 762,884
Long-term investments 14,885 50,125
Property and equipment, net 18,884 17,160
Intangible assets, net 199,587 118,684
Goodwill 406,439 149,558
Other assets 25,796 24,035
Total assets 1,114,347 1,122,446
Current liabilities:    
Accounts payable 17,484 15,353
Funds payable to clients 154,029 217,788
Accrued expenses and other current liabilities 49,507 49,297
Deferred revenue 19,220 7,337
Total current liabilities 240,240 289,775
Deferred tax liabilities 14,504 12,643
Long-term debt 60,000 0
Other liabilities 7,180 5,261
Total liabilities 321,924 307,679
Commitments and contingencies (Note 17)
Stockholders' equity:    
Preferred stock, $0.0001 par value; 10,000,000 shares authorized as of June 30, 2025 and December 31, 2024; and no shares issued and outstanding as of June 30, 2025 and December 31, 2024 0 0
Voting common stock, $0.0001 par value; 2,000,000,000 shares authorized as of June 30, 2025 and December 31, 2024; 129,076,628 shares issued and 120,307,481 shares outstanding as of June 30, 2025; 126,853,852 shares issued and 122,182,878 shares outstanding as of December 31, 2024 13 13
Non-voting common stock, $0.0001 par value; 10,000,000 shares authorized as of June 30, 2025 and December 31, 2024; 1,873,320 shares issued and outstanding as of June 30, 2025 and December 31, 2024 0 0
Treasury voting common stock, 8,769,147 and 4,670,974 shares as of June 30, 2025 and December 31, 2024, respectively, held at cost (98,739) (46,268)
Additional paid-in capital 1,071,085 1,033,958
Accumulated other comprehensive income (loss) 7,101 (2,066)
Accumulated deficit (187,037) (170,870)
Total stockholders' equity 792,423 814,767
Total liabilities and stockholders' equity $ 1,114,347 $ 1,122,446