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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities:      
Net loss $ (326,361) $ (98,720) $ (31,091)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:      
Stock-based compensation 197,157 68,290 18,064
Amortization of intangible assets 75,977 5,659 0
Depreciation and amortization 9,161 4,443 3,233
Amortization of capitalized internal-use software costs 2,366 907 1,024
Amortization of debt discount (accretion of debt premium) and issuance costs 4,777 27,531 0
Amortization of premium (accretion of discount) on investments in marketable debt securities 11,386 4,692 (3,815)
Provision for losses on acquired card receivables 19,879 741 0
Non-cash operating lease expense 8,601 3,813 0
Deferred income taxes (4,075) (40,617) 0
Other (726) 0 717
Changes in assets and liabilities:      
Accounts receivable (3,032) (6,535) (1,608)
Prepaid expenses and other current assets (12,970) 706 (10,434)
Other assets 5,105 (12,525) (4,928)
Accounts payable (3,771) 7,417 (1,596)
Other accruals and current liabilities 7,460 22,980 9,755
Operating lease liabilities (7,877) 8,395 0
Other long-term liabilities (6,749) 592 12,991
Deferred revenue 5,599 6,854 3,258
Net cash (used in) provided by operating activities (18,093) 4,623 (4,430)
Cash flows from investing activities:      
Cash paid for acquisition, net of acquired cash and cash equivalents (144,349) (556,090) 0
Purchases of corporate and customer fund short-term investments (2,801,697) (2,070,296) (1,088,611)
Proceeds from maturities of corporate and customer fund short-term investments 1,902,474 1,104,532 806,000
Proceeds from sale of corporate and customer fund short-term investments 55,744 142,665 46,159
Increase in acquired card receivables and other (130,537) (26,495) (959)
Purchases of property and equipment (5,377) (18,902) (11,437)
Capitalization of internal-use software costs (10,259) (2,304) (639)
Proceeds from beneficial interest 6,699 0 0
Net cash used in investing activities (1,127,302) (1,426,890) (249,487)
Cash flows from financing activities:      
Proceeds from issuance of common stock upon public offering, net of underwriting discounts and other offering costs 1,341,122 0 0
Proceeds from issuance of convertible senior notes, net of discounts and issuance costs 560,075 1,129,379 0
Purchase of capped calls (37,893) (87,860) 0
Proceeds from issuance of common stock upon initial public offering, net of underwriting discounts and commissions and other offering costs 0 0 225,481
Proceeds from issuance of common stock upon follow-on public offering, net of underwriting discounts and commissions and other offering costs 0 0 308,176
Increase in customer fund deposits liability and other 970,889 563,291 314,937
Proceeds from line of credit borrowings 37,500 0 2,300
Payments on line of credit and bank borrowings (40,000) (2,300) 0
Proceeds from exercise of stock options 34,024 28,209 12,232
Proceeds from issuance of common stock under the employee stock purchase plan 12,849 8,864 0
Net cash provided by financing activities 2,878,566 1,639,583 863,126
Effect of exchange rate changes on cash, cash equivalents, restricted cash, and restricted cash equivalents (149) 0 0
Net increase in cash, cash equivalents, restricted cash, and restricted cash equivalents 1,733,022 217,316 609,209
Cash, cash equivalents, restricted cash, and restricted cash equivalents, beginning of year 1,809,693 1,592,377 983,168
Cash, cash equivalents, restricted cash, and restricted cash equivalents, end of year 3,542,715 1,809,693 1,592,377
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 1,596,542 509,615 573,643
Restricted cash included in other current assets 85,252 10,977 35
Restricted cash included in other assets 6,724 6,875 0
Restricted cash and restricted cash equivalents included in funds held for customers 1,854,197 1,282,226 1,018,699
Total cash, cash equivalents, restricted cash, and restricted cash equivalents, end of year 3,542,715 1,809,693 1,592,377
Supplemental disclosure of cash flow information:      
Cash paid for interest 4,867 112 174
Noncash investing and financing activities:      
Fair value of shares issued as consideration for acquisition 488,494 1,603,543 0
Fair value of stock-based awards assumed in acquisition 21,724 55,275 0
Recognition of beneficial interest 4,690 0 0
Payable on purchases of property and equipment 1,936 664 0
Conversion of redeemable convertible preferred stock into common stock upon initial public offering 0 0 276,307
Reclassification of redeemable convertible preferred stock warrant liabilities into additional paid-in capital upon initial public offering 0 0 1,405
Receivable from broker-assisted exercises of stock options 0 0 1,228
Accrued stock and debt issuance costs $ 0 $ 120 $ 664