v3.25.0.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 788,287 $ 1,270,503
Restricted cash 16,499 11,700
Cash reserved for users 525,407 341,290
Receivables reserved for users 62,542 301,770
Accounts receivable 57,839 47,539
Prepaid expenses and other current assets 83,187 98,565
Total current assets 1,533,761 2,071,367
Property and equipment, net 50,550 60,695
Intangible assets, net 933,121 690,620
Goodwill 1,555,116 886,373
Operating lease right-of-use assets 74,917 93,985
Equity method investments 13,200 10,280
Deposits and other non-current assets 123,060 131,546
Total assets 4,283,725 3,944,866
Current liabilities:    
Accounts payable and accrued expenses 661,245 639,599
Liabilities to users 979,453 851,898
Operating lease liabilities, current portion 10,993 11,499
Other current liabilities 3,300 46,624
Total current liabilities 1,654,991 1,549,620
Convertible notes, net of issuance costs 1,256,429 1,253,760
Non-current operating lease liabilities 67,660 80,827
Warrant liabilities 22,033 63,568
Long-term income tax liabilities 76,375 72,810
Other long-term liabilities 195,611 83,975
Total liabilities 3,273,099 3,104,560
Commitments and contingent liabilities (Note 7 and 16)
Stockholders’ equity:    
Treasury stock, at cost; 15,651 and 11,901 shares as of December 31, 2024 and 2023, respectively (563,146) (412,182)
Additional paid-in capital 7,978,425 7,149,858
Accumulated deficit (6,441,228) (5,933,943)
Accumulated other comprehensive income 36,488 36,488
Total stockholders’ equity 1,010,626 840,306
Total liabilities and stockholders’ equity 4,283,725 3,944,866
Class A Common Stock    
Stockholders’ equity:    
Common stock 48 46
Class B Common Stock    
Stockholders’ equity:    
Common stock $ 39 $ 39