Balance Sheet Components

6 Months Ended

Jun. 30, 2022

Other Assets

Other assets consisted of the following:


	December 31,		June 30,
	2021		2022
Servicing fees and other receivables	$	55,518	$	46,122
Deposits	8,377		10,424
Prepaid expenses	30,012		22,407
Loan servicing assets (at fair value)	18,388		35,171
Notes receivable and residual certificates (at fair value)	8,288		4,698
Other assets	8,809		7,776
Total other assets	$	129,392	$	126,598

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,		June 30,
	2021		2022
Internally developed software	$	17,735	$	27,561
Computer and networking equipment	3,796		5,830
Furniture and fixtures	3,199		4,246
Leasehold improvements	7,450		10,335
Total property, equipment, and software	32,180		47,972
Accumulated depreciation and amortization	(7,921)		(11,918)
Total property, equipment, and software, net	$	24,259	$	36,054

For the three and six months ended June 30, 2021, depreciation and amortization expense on property, equipment, and software was immaterial. For the three and six months ended June 30, 2022, depreciation and amortization was $2.3 million and $4.0 million, respectively. Capitalized internally developed software balances, net of accumulated amortization, were $13.5 million and $20.9 million as of December 31, 2021 and June 30, 2022, respectively.

Accrued Expenses and Other Liabilities

Accrued expenses and other liabilities consisted of the following:


	December 31,		June 30,
	2021		2022
Accrued expenses	$	48,207	$	37,055
Accrued payroll	37,293		17,774


Loan servicing liabilities (at fair value)	8,780		6,366
Trailing fee liability (at fair value)	4,315		5,446


Other liabilities	4,823		9,144
Total accrued expenses and other liabilities	$	103,418	$	75,785