XML 63 R52.htm IDEA: XBRL DOCUMENT v3.25.2
FAIR VALUE MEASUREMENTS - Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($)
$ in Thousands
Jun. 30, 2025
Mar. 31, 2025
Dec. 31, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Customer funds $ 4,937,814   $ 4,182,872      
Bitcoin investment 931,656 $ 708,450 792,282 $ 514,584 $ 573,302 $ 339,898
Level 1 | Fair Value, Measurements, Recurring            
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Bitcoin investment 931,656   792,282      
Investment in marketable equity securities 6,413   5,407      
Total 3,087,899   3,419,298      
Level 1 | Fair Value, Measurements, Recurring | Money market funds            
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Cash equivalents 441,799   857,196      
Restricted cash 94,764   319,800      
Customer funds 4,645   4,645      
Level 1 | Fair Value, Measurements, Recurring | U.S. government securities            
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Cash equivalents 29,898   26,951      
Short-term debt securities 223,912   206,785      
Long-term debt securities 117,871   223,258      
Level 1 | Fair Value, Measurements, Recurring | U.S. agency securities            
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Short-term debt securities 0   0      
Long-term debt securities 0   0      
Level 1 | Fair Value, Measurements, Recurring | Commercial paper            
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Cash equivalents 0   0      
Level 1 | Fair Value, Measurements, Recurring | Corporate bonds            
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Short-term debt securities 0   0      
Long-term debt securities 0   0      
Level 1 | Fair Value, Measurements, Recurring | Reverse repurchase agreement            
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Customer funds 1,236,941   982,974      
Level 1 | Fair Value, Measurements, Recurring | Certificates of deposit            
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Short-term debt securities 0   0      
Level 1 | Fair Value, Measurements, Recurring | Commercial paper            
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Short-term debt securities 0   0      
Level 1 | Fair Value, Measurements, Recurring | Municipal securities            
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Short-term debt securities 0   0      
Long-term debt securities 0   0      
Level 2 | Fair Value, Measurements, Recurring            
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Bitcoin investment 0   0      
Investment in marketable equity securities 0   0      
Total 168,200   445,869      
Level 2 | Fair Value, Measurements, Recurring | Money market funds            
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Cash equivalents 0   0      
Restricted cash 0   0      
Customer funds 0   0      
Level 2 | Fair Value, Measurements, Recurring | U.S. government securities            
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Cash equivalents 0   0      
Short-term debt securities 0   0      
Long-term debt securities 0   0      
Level 2 | Fair Value, Measurements, Recurring | U.S. agency securities            
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Short-term debt securities 12,518   34,468      
Long-term debt securities 47,045   49,030      
Level 2 | Fair Value, Measurements, Recurring | Commercial paper            
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Cash equivalents 0   509      
Level 2 | Fair Value, Measurements, Recurring | Corporate bonds            
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Short-term debt securities 75,072   160,390      
Long-term debt securities 26,075   195,344      
Level 2 | Fair Value, Measurements, Recurring | Reverse repurchase agreement            
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Customer funds 0   0      
Level 2 | Fair Value, Measurements, Recurring | Certificates of deposit            
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Short-term debt securities 1,246   1,051      
Level 2 | Fair Value, Measurements, Recurring | Commercial paper            
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Short-term debt securities 533   333      
Level 2 | Fair Value, Measurements, Recurring | Municipal securities            
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Short-term debt securities 130   399      
Long-term debt securities 5,581   4,345      
Level 3 | Fair Value, Measurements, Recurring            
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Bitcoin investment 0   0      
Investment in marketable equity securities 0   0      
Total 0   0      
Level 3 | Fair Value, Measurements, Recurring | Money market funds            
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Cash equivalents 0   0      
Restricted cash 0   0      
Customer funds 0   0      
Level 3 | Fair Value, Measurements, Recurring | U.S. government securities            
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Cash equivalents 0   0      
Short-term debt securities 0   0      
Long-term debt securities 0   0      
Level 3 | Fair Value, Measurements, Recurring | U.S. agency securities            
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Short-term debt securities 0   0      
Long-term debt securities 0   0      
Level 3 | Fair Value, Measurements, Recurring | Commercial paper            
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Cash equivalents 0   0      
Level 3 | Fair Value, Measurements, Recurring | Corporate bonds            
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Short-term debt securities 0   0      
Long-term debt securities 0   0      
Level 3 | Fair Value, Measurements, Recurring | Reverse repurchase agreement            
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Customer funds 0   0      
Level 3 | Fair Value, Measurements, Recurring | Certificates of deposit            
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Short-term debt securities 0   0      
Level 3 | Fair Value, Measurements, Recurring | Commercial paper            
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Short-term debt securities 0   0      
Level 3 | Fair Value, Measurements, Recurring | Municipal securities            
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Short-term debt securities 0   0      
Long-term debt securities $ 0   $ 0