v3.24.2.u1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Current assets    
Cash and cash equivalents $ 575,499 $ 489,200
Funds receivable 28,869 48,773
Short-term investments, at amortized cost 56,698 153,746
Accounts receivable, net 4,856 2,814
Creator signing fees, net 3,601 634
Creator advances, net 6,852 2,804
Prepaid expenses and other current assets 12,147 13,880
Total current assets 688,522 711,851
Creator signing fees, net noncurrent 1,553 1,303
Property and equipment, net 12,643 9,384
Operating lease right-of-use assets 1,000 177
Goodwill 174,388 174,388
Acquired intangible assets, net 9,132 13,314
Other assets 7,282 2,913
Total assets 894,520 913,330
Current liabilities    
Accounts payable, creators 314,718 303,436
Accounts payable, trade 1,467 1,821
Chargebacks and refunds reserve 8,213 8,088
Accrued compensation and benefits 8,534 17,522
Accrued taxes 5,712 8,796
Operating lease liabilities 1,973 1,523
Other accrued liabilities 13,062 16,425
Total current liabilities 353,679 357,611
Accrued taxes, noncurrent 4,532 4,526
Operating lease liabilities, noncurrent 1,423 1,768
Long-term debt 358,725 357,668
Total liabilities 718,359 721,573
Commitments and contingencies (Note 16)
Stockholders’ equity    
Preferred stock, $0.00001 par value; 100,000,000 shares authorized, no shares issued or outstanding as of June 30, 2024 and December 31, 2023 0 0
Common stock, $0.00001 par value; 1,100,000,000 shares authorized; 96,430,627 shares issued and outstanding as of June 30, 2024; 101,276,416 shares issued and outstanding as of December 31, 2023 1 1
Additional paid-in capital 1,032,205 1,007,190
Treasury stock, at cost; 6,787,969 shares of common stock as of June 30, 2024 and no shares as of December 31, 2023 (37,184) 0
Accumulated deficit (818,861) (815,434)
Total stockholders’ equity 176,161 191,757
Total liabilities and stockholders’ equity $ 894,520 $ 913,330