Revenue from Contracts with Clients (Tables)

3 Months Ended

Mar. 31, 2024

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

We disaggregate revenue by service type and by platform as follows (in thousands):

Service Type	Three Months Ended March 31, 2024		Three Months Ended March 31, 2023
Transaction revenue	$	847,984	$	7,706
Subscription and service revenue	6,598		5,513
Total revenue	$	854,582	$	13,219

Platform	Three Months Ended March 31, 2024		Three Months Ended March 31, 2023
Loyalty redemption platform, net	13,242		12,776
Crypto services	841,340		443
Total revenue	$	854,582	$	13,219

Contract Liabilities

The activity in deferred revenue for the three months ended March 31, 2024 and March 31, 2023, respectively, was as follows (in thousands):

	Three Months Ended March 31, 2024		Three Months Ended March 31, 2023
Beginning of the period contract liability	$	7,480	$	7,084
Revenue recognized from contract liabilities included in the beginning balance	(1,497)		(1,119)
Increases due to cash received, net of amounts recognized in revenue during the period	170		577
End of the period contract liability	$	6,153	$	6,542