v3.25.4
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Operating activities:      
Net income (loss) $ 40 $ 5 $ 10
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Depreciation and amortization 92 85 87
Stock-based compensation expense (Note 13) 108 120 96
Deferred income tax expense (benefit) (Note 10) (2) (14) (25)
Provision for expected credit losses (Note 2) 8 8 6
Other, net 18 9 9
Changes in operating assets and liabilities, net:      
Accounts receivable, prepaid expenses and other assets (8) (24) 6
Accounts payable, accrued expenses and other liabilities (46) 13 11
Deferred merchant payables 52 19 32
Income tax receivables/payables, net (23) (75) (1)
Deferred revenue 6 (2) 4
Net cash provided by (used in) operating activities 245 144 235
Investing activities:      
Capital expenditures, including capitalized website development (82) (74) (63)
Other investing activities, net (2) 1 0
Net cash provided by (used in) investing activities (84) (73) (63)
Financing activities:      
Proceeds from the issuance of Term Loan B Facility, net of financing costs (Note 8) 341 493 0
Payment of 2025 Senior Notes (Note 8) 0 (500) 0
Payment of financing costs related to Credit Facility (Note 8) 0 (1) (3)
Principal payments on Term Loan B Facility (Note 8) (9) (1) 0
Repurchase of common stock related to Merger, including transaction costs (Note 1) (411) 0 0
Repurchase of common stock under the share repurchase program (Note 14) (90) (25) (100)
Payment of withholding taxes on net share settlements of equity awards (20) (21) (17)
Payments of finance lease obligation and other financing activities, net (Note 5) (8) (8) (7)
Net cash provided by (used in) financing activities (197) (63) (127)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash 7 (11) 1
Net increase (decrease) in cash, cash equivalents, and restricted cash (29) (3) 46
Cash, cash equivalents, and restricted cash at beginning of period 1,064 1,067 1,021
Cash, cash equivalents, and restricted cash at end of period 1,035 1,064 1,067
Supplemental disclosure of cash flow information:      
Cash paid (received) during the period for income taxes, net of refunds (Note 10) 29 170 140
Cash paid during the period for interest 59 58 39
Supplemental disclosure of non-cash investing and financing activities:      
Issuance of common stock related to Merger (Note 1) 39 0 0
Net operating loss carryforwards retained related to Merger (Note 1) 13 0 0
Stock-based compensation capitalized website development costs (Note 13) $ 12 $ 13 $ 10