Balance Sheet Components

9 Months Ended

Sep. 30, 2022

Other Assets

Other assets consisted of the following:


	December 31,		September 30,
	2021		2022
Servicing fees and other receivables	$	55,518	$	49,878
Loan servicing assets (at fair value)	18,388		37,037
Prepaid expenses	30,012		23,564
Other assets	8,809		8,968
Deposits	8,377		8,796
Notes receivable and residual certificates (at fair value)	8,288		3,459
Total other assets	$	129,392	$	131,702

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,		September 30,
	2021		2022
Internally developed software	$	17,735	$	33,124
Leasehold improvements	7,450		12,145
Computer and networking equipment	3,796		6,049
Furniture and fixtures	3,199		4,246
Total property, equipment, and software	32,180		55,564
Accumulated depreciation and amortization	(7,921)		(14,574)
Total property, equipment, and software, net	$	24,259	$	40,990

For the three and nine months ended September 30, 2021, depreciation and amortization expense on property, equipment, and software was $1.0 million and $2.7 million, respectively, and $2.7 million and $6.7 million for the three and nine months ended September 30, 2022, respectively. Capitalized internally developed software balances, net of accumulated amortization, were $13.5 million and $24.6 million as of December 31, 2021 and September 30, 2022, respectively.

Accrued Expenses and Other Liabilities

Accrued expenses and other liabilities consisted of the following:


	December 31,		September 30,
	2021		2022
Accrued expenses	$	48,207	$	30,598
Accrued payroll	37,293		19,168


Other liabilities	4,823		13,870
Trailing fee liability (at fair value)	4,315		5,201


Loan servicing liabilities (at fair value)	8,780		4,810
Total accrued expenses and other liabilities	$	103,418	$	73,647