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CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Millions
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 358 $ 287
Restricted cash, cash equivalents and investments 1,039 1,694
Accounts receivable, net 3 20
Payroll funds receivable 428 264
Prepaid expenses, net 53 82
Other payroll assets 427 474
Other current assets 76 47
Total current assets 2,384 2,868
Restricted cash, cash equivalents and investments, noncurrent 122 128
Property and equipment, net 27 11
Operating lease right-of-use asset 40 36
Goodwill 465 461
Software and other intangible assets, net 173 153
Other assets 135 140
Total assets 3,346 3,797
Current liabilities:    
Accounts payable and other current liabilities 103 86
Client deposits and other client liabilities 76 57
Accrued wages 547 555
Accrued health insurance costs, net 189 207
Accrued workers' compensation costs, net 42 42
Payroll tax liabilities and other payroll withholdings 1,134 1,671
Operating lease liabilities 10 10
Insurance premiums and other payables 8 9
Total current liabilities 2,109 2,637
Long-term debt, noncurrent 896 895
Accrued workers' compensation costs, noncurrent, net 104 106
Deferred taxes 54 55
Operating lease liabilities, noncurrent 44 37
Other non-current liabilities 14 13
Total liabilities 3,221 3,743
Commitments and contingencies (see Note 5)
Stockholders' equity:    
Preferred stock, ($0.000025 par value per share; 20,000,000 shares authorized; no shares issued or outstanding at March 31, 2026 and December 31, 2025) 0 0
Common stock and additional paid-in capital, ($0.000025 par value per share; 750,000,000 shares authorized; 45,971,977 and 47,377,950 shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively) 1,174 1,135
Accumulated deficit (1,046) (1,081)
Accumulated other comprehensive loss (3) 0
Total stockholders' equity 125 54
Total liabilities & stockholders' equity $ 3,346 $ 3,797