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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
Assets    
Cash and cash equivalents $ 503,591 $ 317,959
Restricted cash 24,475 28,106
Short-term investments 25,597 0
Mortgage loans held for sale, at fair value 170,150 248,826
Other receivables, net 16,888 16,582
Property and equipment, net 16,454 30,430
Right-of-use assets 19,988 39,723
Internal use software and other intangible assets, net 38,126 61,996
Goodwill 32,390 17,388
Derivative assets, at fair value 1,716 3,048
Prepaid expenses and other assets 56,179 66,572
Bifurcated derivative 0 236,603
Loan commitment asset 0 16,119
Total Assets 905,554 1,083,352
Liabilities    
Warehouse lines of credit 126,218 144,049
Convertible Notes 514,644 0
Pre-Closing Bridge Notes 0 750,000
Corporate line of credit, net 0 144,403
Customer Deposits 11,839 0
Accounts payable and accrued expenses 66,558 82,437
Escrow payable and other customer accounts 3,376 8,001
Derivative liabilities, at fair value 949 1,828
Convertible preferred stock warrants 0 3,096
Warrant and equity related liabilities, at fair value 2,331 0
Lease liabilities 31,202 57,508
Other liabilities (includes $390 and $440 payable to related parties as of December 31, 2023 and 2022, respectively) 25,837 59,933
Total Liabilities 782,954 1,251,255
Commitments and contingencies (see Note 15)
Convertible preferred stock, $0.0001 par value; none as of December 31, 2023; 602,405,839 shares authorized, 332,314,737 shares issued and outstanding and $420,472 liquidation preference as of December 31, 2022 0 436,280
Stockholders’ Equity (Deficit)    
Common stock $0.0001 par value; 3,300,000,000 and 1,086,027,188 shares authorized as of December 31, 2023 and December 31, 2022, respectively, and 751,773,361 and 299,783,421 shares issued and outstanding as of December 31, 2023 and December 31, 2022, respectively 74 10
Notes receivable from stockholders (10,111) (53,225)
Additional paid-in capital 1,838,427 618,111
Accumulated deficit (1,704,076) (1,167,656)
Accumulated other comprehensive loss (1,714) (1,423)
Total Stockholders’ Equity (Deficit) 122,600 (604,183)
Total Liabilities, Convertible Preferred Stock, and Stockholders’ Equity (Deficit) $ 905,554 $ 1,083,352