v3.24.0.1
Consolidated Statement of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:      
Net Income (Loss) $ (8,566) $ (39,347) $ (28,085)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:      
Depreciation and amortization 15,764 12,304 8,998
Stock-based compensation expense 43,726 30,259 18,928
Amortization of contract costs 1,789 1,799 245
Change in fair value of preferred stock warrant liability 0 0 10,758
Change in fair value of contingent consideration 380 (2,805) 2,263
Deferred tax provision (benefit) 72 (1,708) 146
Provision for uncollectible accounts 326 152 165
Non-cash interest expense 298 348 252
Changes in operating assets and liabilities, net of acquisition:      
Accounts receivable (2,082) (323) (587)
Unbilled receivables (5,394) (1,928) (1,642)
Funds receivable from payment partners (50,975) (30,917) (5,805)
Prepaid expenses, other current assets and other assets (4,279) (11,318) (7,854)
Funds payable to clients 86,616 48,932 11,316
Accounts payable, accrued expenses and other current liabilities 5,548 6,761 11,230
Contingent consideration (467) (4,510) (3,212)
Other liabilities (1,260) (1,872) 174
Deferred revenue (871) (400) (159)
Net cash provided by (used) in operating activities 80,625 5,427 17,131
Cash flows from investing activities:      
Capitalization of internally developed software (5,004) (5,717) (5,635)
Purchases of property and equipment (1,009) (1,353) (1,049)
Acquisitions of businesses, net of cash acquired (32,764) (17,140) (56,111)
Asset acquisition, net of cash acquired 0 0 (119)
Contingent consideration paid for acquisitions 0 (453) 0
Net cash used in investing activities (38,777) (24,663) (62,914)
Cash flows from financing activities:      
Proceeds from initial public offering, net of underwriting discounts and commissions 0 0 268,694
Payment of costs related to initial public offering 0 0 (4,860)
Proceeds from issuance of common stock under public offering, net of underwriting discount and commissions 261,119 0 0
Payments of costs related to public offering (1,062) 0 0
Proceeds from issuance of long-term debt 0 0 25,939
Payment of long-term debt issuance costs 0 0 (418)
Repayment of long-term debt 0 (25,939) (25,000)
Proceeds from issuance of redeemable convertible preferred stock, net of issuance costs 0 0 59,735
Proceeds from exercise of warrants 0 0 294
Contingent consideration paid for acquisitions (1,207) (3,701) (3,800)
Payments of tax withholdings for net settled option exercises (8,483) (2,564) 0
Proceeds from the issuance of stock under Employee Stock Purchase Plan 2,691 1,271 0
Proceeds from exercise of stock options 10,360 6,963 6,928
Net cash provided by (used in) financing activities 263,418 (23,970) 327,512
Effect of exchange rates changes on cash and cash equivalents (1,835) 5,023 (1,421)
Net increase (decrease) in cash, cash equivalents and restricted cash 303,431 (38,183) 280,308
Cash, cash equivalents and restricted cash, beginning of year 351,177 389,360 109,052
Cash, cash equivalents and restricted cash, end of year 654,608 351,177 389,360
Supplemental disclosures of cash flow and noncash information      
Cash paid during the period for interest 0 770 1,600
Issuance of common stock for acquisition 0 4,287 0
Accretion of redeemable convertible preferred stock 0 0 (13)
Purchase of property and equipment in accounts payable 14 36 0
Issuance of common stock for retention bonus 1,196 0 0
Cash and cash equivalents 654,608 351,177 389,360
Cash and Cash Equivalents      
Cash flows from financing activities:      
Cash, cash equivalents and restricted cash, beginning of year 349,177 385,360  
Cash, cash equivalents and restricted cash, end of year 654,608 349,177 385,360
Supplemental disclosures of cash flow and noncash information      
Cash and cash equivalents 654,608 349,177 385,360
Restricted Cash      
Cash flows from financing activities:      
Cash, cash equivalents and restricted cash, beginning of year 2,000 4,000  
Cash, cash equivalents and restricted cash, end of year 0 2,000 4,000
Supplemental disclosures of cash flow and noncash information      
Cash and cash equivalents $ 0 $ 2,000 $ 4,000