XML 16 R6.htm IDEA: XBRL DOCUMENT v3.22.0.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)
$ in Thousands
3 Months Ended 6 Months Ended
Dec. 31, 2021
USD ($)
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Cash flows from operating activities:      
Net loss   $ (154,699) $ (30,130)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization   5,023 1,924
Stock-based compensation   87,571 20,583
Amortization of debt discount (accretion of debt premium) and issuance costs   1,955 3,905
Amortization of intangible assets $ 19,768 36,440  
Amortization of premium (accretion of discount) on investments in marketable debt securities   6,638 723
Non-cash operating lease expense   4,083 1,677
Provision for losses on acquired card receivables   9,535  
Deferred income taxes   (3,822) (333)
Changes in assets and liabilities:      
Accounts receivable   (3,420) (2,785)
Prepaid expenses and other current assets   (8,547) (4,768)
Other assets   (1,099) (11,267)
Accounts payable   (2,023) 1,366
Other accruals and current liabilities   (11,430) (13)
Operating lease liabilities   (2,952) 6,930
Other long-term liabilities   (1,698) 573
Deferred revenue   4,381 32
Net cash used in operating activities   (34,064) (11,583)
Cash flows from investing activities:      
Cash paid for acquisition, net of acquired cash and cash equivalents   (144,541)  
Purchases of corporate and customer fund short-term investments   (1,452,419) (701,442)
Proceeds from maturities of corporate and customer fund short-term investments   667,854 501,159
Proceeds from sale of corporate and customer fund short-term investments   44,744 35,286
Increase in other receivables included in funds held for customers   (8,235) 19
Increase in acquired card receivables   (69,224)  
Purchases of property and equipment   (2,467) (13,636)
Capitalization of internal-use software costs   (5,023) (660)
Net cash used in investing activities   (969,311) (179,274)
Cash flows from financing activities:      
Proceeds from issuance of common stock upon public offering, net of underwriting discounts and other offering costs   1,341,152  
Proceeds from issuance of convertible senior notes, net of discounts and issuance costs   560,075 1,129,603
Purchase of capped call   (37,893) (87,860)
Increase in customer fund deposits liability   1,171,797 573,430
Proceeds from exercise of stock options   22,784 17,442
Proceeds from issuance of common stock under the employee stock purchase plan   5,726 4,327
Other   (351) (664)
Net cash provided by financing activities   3,063,290 1,636,278
Effect of exchange rate changes on cash, cash equivalents, restricted cash and restricted cash equivalents   (75)  
Net increase in cash, cash equivalents, restricted cash, and restricted cash equivalents   2,059,840 1,445,421
Cash, cash equivalents, restricted cash, and restricted cash equivalents, beginning of period   1,809,692 1,592,377
Cash, cash equivalents, restricted cash, and restricted cash equivalents, end of period 3,869,532 3,869,532 3,037,798
Reconciliation of cash, cash equivalents, restricted cash, and restricted cash equivalents within the consolidated balance sheets to the amounts shown in the consolidated statements of cash flows above:      
Cash and cash equivalents 1,672,166 1,672,166 1,568,684
Restricted cash included in other current assets $ 16,364 $ 16,364 $ 119
Restricted Cash, Current, Asset, Statement of Financial Position [Extensible List] us-gaap:OtherAssetsCurrent us-gaap:OtherAssetsCurrent us-gaap:OtherAssetsCurrent
Restricted cash included in other assets $ 6,724 $ 6,724  
Restricted Cash, Noncurrent, Statement of Financial Position [Extensible Enumeration] Other Assets, Noncurrent Other Assets, Noncurrent Other Assets, Noncurrent
Restricted cash and restricted cash equivalents included in funds held for customers $ 2,174,278 $ 2,174,278 $ 1,468,995
Total cash, cash equivalents, restricted cash, and restricted cash equivalents, end of period $ 3,869,532 $ 3,869,532 $ 3,037,798