v3.23.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:    
Net loss $ (210) $ (175)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization 22 18
Stock-based compensation expense 206 167
Amortization of deferred costs 44 32
Change in fair value of warrant liability 5 (102)
Credit loss expense 44 18
Stock-based charitable contribution expense 10 0
Asset impairments 15 0
Other (14) 1
Changes in operating assets and liabilities:    
Accounts receivable, net (24) (30)
Prepaid expenses and other current assets (7) (17)
Deferred costs, net (77) (53)
Inventories, net 13 (53)
Accounts payable (3) (12)
Accrued expenses and other current liabilities 17 91
Deferred revenue 6 (9)
Other assets and liabilities (4) (13)
Net cash provided by (used in) operating activities 43 (137)
Cash flows from investing activities:    
Cash paid for acquisition, net of cash acquired (9) (46)
Capitalized software (27) (10)
Purchases of property and equipment (4) (13)
Purchases of marketable securities (479) (187)
Proceeds from the sale of marketable securities 23 41
Maturities of marketable securities 414 190
Other investing activities (3) 0
Net cash used in investing activities (85) (25)
Cash flows from financing activities:    
Change in customer funds obligations, net 27 26
Proceeds from issuance of common stock 31 12
Payment of contingent consideration 0 (2)
Net cash provided by financing activities 58 36
Net increase (decrease) in cash, cash equivalents, cash held on behalf of customers and restricted cash 16 (126)
Effect of exchange rate changes on cash and cash equivalents and restricted cash (1) (1)
Cash, cash equivalents, cash held on behalf of customers and restricted cash at beginning of period 635 851
Cash, cash equivalents, cash held on behalf of customers and restricted cash at end of period 650 724
Reconciliation of cash, cash equivalents, cash held on behalf of customers and restricted cash    
Cash and cash equivalents 514 644
Cash held on behalf of customers 87 61
Restricted cash 49 19
Total cash, cash equivalents, cash held on behalf of customers and restricted cash 650 724
Supplemental disclosure of non-cash investing and financing activities:    
Issuance of Class B common stock upon exercise of common stock warrants $ 1 $ 18