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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash Flows from Operating Activities    
Net income (loss) $ 66,312 $ (1,819)
Adjustment to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 19,064 15,525
Deferred taxes (12,024) 820
Stock-based compensation expenses 48,429 39,132
Share in gains of associated company   (11)
Gain from change in fair value of Warrants (5,535) (28,932)
Foreign currency re-measurement loss 761 3,015
Changes in operating assets and liabilities:    
Other current assets (5,891) (10,825)
Trade payables (6,948) 8,753
Deferred revenue 1,206 (30)
Accounts receivable, net 6,908 (7,024)
Capital advance extended to customers (207,075) (145,424)
Capital advance collected from customers 195,074 163,266
Other payables (880) 7,047
Other long-term liabilities (1,429) (7,250)
Operating lease right-of-use assets 7,262 7,862
Other assets (3,906) 221
Net cash provided by operating activities 101,328 44,326
Cash Flows from Investing Activities    
Purchase of property, equipment and software (4,336) (7,132)
Capitalization of internal use software (25,322) (10,209)
Related party asset acquisition (Refer to Notes 6 and 18 for further information) (3,600)  
Severance pay fund distributions, net 151 504
Customer funds in transit, net (20,600) 2,895
Net cash inflow from acquisition of remaining interest in joint venture (Refer to Note 2(c) for further information) 5,953  
Net cash used in investing activities (47,754) (13,942)
Cash Flows from Financing Activities    
Proceeds from issuance of common stock in connection with stock-based compensation plan, net of taxes paid related to settlement of equity awards 10,159 15,283
Outstanding operating balances, net (468,146) 638,370
Borrowings under related party facility (Refer to Notes 8 and 18 for further information) 19,309 22,464
Repayments under related party facility (Refer to Notes 8 and 18 for further information) (19,646) (20,382)
Common stock repurchased (34,408)  
Net cash provided by (used in) financing activities (492,732) 655,735
Effect of exchange rate changes on cash and cash equivalents (662) (3,369)
Net change in cash, cash equivalents, restricted cash and customer funds (439,820) 682,750
Cash, cash equivalents, restricted cash and customer funds at beginning of period 6,386,720 4,838,433
Cash, cash equivalents, restricted cash and customer funds at end of period 5,946,900 5,521,183
Supplemental information of investing and financing activities not involving cash flows:    
Property, equipment, and software acquired but not paid 1,078 338
Internal use software capitalized but not paid 12,119 2,276
Common stock repurchased but not paid 350  
Right of use assets obtained in exchange for new operating lease liabilities $ 4,398 $ 13,415