v3.24.3
Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 818,939 $ 914,323
Short-term investments 226,022 236,118
Accounts receivable, net of expected credit losses of $7,543 and $10,149 as of September 30, 2024 and December 31, 2023, respectively 8,644 24,734
Prepaid and other current assets 94,514 129,884
Funds receivable and seller accounts 172,562 265,387
Total current assets 1,320,681 1,570,446
Property and equipment, net of accumulated depreciation and amortization of $292,136 and $244,052 as of September 30, 2024 and December 31, 2023, respectively 242,889 249,794
Goodwill 138,622 138,377
Intangible assets, net of accumulated amortization of $158,367 and $125,932 as of September 30, 2024 and December 31, 2023, respectively 443,943 457,140
Deferred tax assets 144,408 137,776
Long-term investments 107,046 86,676
Other assets 44,617 45,191
Total assets 2,442,206 2,685,400
Current liabilities:    
Accounts payable 19,589 29,920
Accrued expenses 298,995 353,553
Finance lease obligations—current 6,081 6,079
Funds payable and amounts due to sellers 172,562 265,387
Deferred revenue 17,097 14,635
Other current liabilities 38,636 41,207
Total current liabilities 552,960 710,781
Finance lease obligations—net of current portion 95,044 99,620
Deferred tax liabilities 7,101 13,192
Long-term debt, net 2,287,016 2,283,817
Other liabilities 124,385 121,705
Total liabilities 3,066,506 3,229,115
Commitments and contingencies (Note 10)
Stockholders’ deficit:    
Common stock ($0.001 par value, 1,400,000 shares authorized as of September 30, 2024 and December 31, 2023; 112,848 and 119,069 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively) 113 119
Preferred stock ($0.001 par value, 25,000 shares authorized as of September 30, 2024 and December 31, 2023) 0 0
Additional paid-in capital 1,270,347 1,081,026
Accumulated deficit (1,652,267) (1,357,390)
Accumulated other comprehensive loss (242,493) (267,470)
Total stockholders’ deficit (624,300) (543,715)
Total liabilities and stockholders’ deficit $ 2,442,206 $ 2,685,400