Balance Sheet Components

3 Months Ended

Mar. 31, 2022

Other Assets

Other assets consisted of the following:


	December 31,		March 31,
	2021		2022
Servicing fees and other receivables	$	55,518	$	48,620
Deposits	8,377		8,818
Prepaid expenses	30,012		28,877
Loan servicing assets (at fair value)	18,388		27,960
Notes receivable and residual certificates (at fair value)	8,288		6,384
Other assets	8,809		6,323
Total other assets	$	129,392	$	126,982

Servicing fees and other receivables represent amounts recognized as revenue but not yet collected in relation to servicing and other agreements with institutional investors and bank partners.

Property, Equipment, and Software, Net

Property, equipment, and software, net consisted of the following:


	December 31,		March 31,
	2021		2022
Internally developed software	$	17,735	$	23,020
Computer and networking equipment	3,796		4,535
Furniture and fixtures	3,199		3,205
Leasehold improvements	7,450		8,689
Total property, equipment, and software	32,180		39,449
Accumulated depreciation and amortization	(7,921)		(9,633)
Total property, equipment, and software, net	$	24,259	$	29,816

For the three months ended March 31, 2021 and 2022, depreciation and amortization expense on property, equipment, and software was immaterial. Capitalized internally developed software balances, net of accumulated amortization, were $13.5 million and $17.8 million as of December 31, 2021 and March 31, 2022, respectively.

Accrued Expenses and Other Liabilities

Accrued expenses and other liabilities consisted of the following:


	December 31,		March 31,
	2021		2022
Accrued expenses	$	48,207	$	54,972
Accrued payroll	37,293		14,822


Loan servicing liabilities (at fair value)	8,780		8,290
Trailing fee liability (at fair value)	4,315		5,241


Other liabilities	4,823		8,398
Total accrued expenses and other liabilities	$	103,418	$	91,723