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OTHER CONSOLIDATED BALANCE SHEET COMPONENTS (NON-CURRENT)
 9 Months Ended
Sep. 30, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
OTHER CONSOLIDATED BALANCE SHEET COMPONENTS (NON-CURRENT) OTHER CONSOLIDATED BALANCE SHEET COMPONENTS (CURRENT)
Other Current Assets

The following table presents the detail of other current assets (in thousands):
  September 30, 2025December 31, 2024
Restricted cash (i)
$731,590 $902,478 
Processing costs receivable445,157 478,767 
Investments in short-term debt securities370,772 403,426 
Accounts receivable, net176,455 148,898 
Inventory, net166,631 104,990 
Prepaid expenses158,430 129,343 
Short-term deposits78,106 87,968 
Other521,154 324,198 
Total$2,648,295 $2,580,068 

(i) Includes a portion invested in money market funds. Refer to Note 5, Fair Value Measurements for further details.

Accrued Expenses and Other Current Liabilities

The following table presents the detail of accrued expenses and other current liabilities (in thousands):    
  September 30, 2025December 31, 2024
Accrued expenses$671,940 $725,339 
Customer deposits323,061 241,884 
Accounts payable125,880 117,963 
Accrued royalties62,540 57,605 
Operating lease liabilities, current55,380 52,880 
Accrued transaction losses (i)
53,249 58,580 
Other286,780 270,898 
Total$1,578,830 $1,525,149 

(i) The Company is exposed to potential credit losses related to transactions processed by sellers that are subsequently subject to chargebacks when the Company is unable to collect from the sellers primarily due to insolvency. Generally, the Company estimates the potential loss rates based on historical experience that is continuously adjusted for new information and incorporates, where applicable, reasonable and supportable forecasts about future expectations.

The following table summarizes the activities of the Company’s reserve for transaction losses (in thousands):
Three Months Ended
September 30,		Nine Months Ended
September 30,
2025202420252024
Accrued transaction losses, beginning of the period$54,382 $81,309 $58,580 $54,042 
Provision for transaction losses27,935 5,617 89,414 86,167 
Charge-offs to accrued transaction losses(29,068)(27,965)(94,745)(81,248)
Accrued transaction losses, end of the period$53,249 $58,961 $53,249 $58,961 
In addition to amounts reflected in the table above, the Company recognized additional provisions for transaction losses that was realized and written-off within the same period. Such losses are primarily related to Cash App transactions, such as peer-to-peer transactions and negative balances, that are uncertain in nature. Losses from peer-to-peer activity are classified within sales and marketing expenses, while other transaction losses, including negative balances, are presented within transaction, loan, and consumer receivable losses on the condensed consolidated statements of operations. In aggregate, the Company recorded $72.2 million and $193.2 million for the three and nine months ended September 30, 2025, respectively, for such losses. The Company recorded $87.7 million and $219.4 million for the three and nine months ended September 30, 2024, respectively, for such losses.
OTHER CONSOLIDATED BALANCE SHEET COMPONENTS (NON-CURRENT)
Other Non-Current Assets

The following table presents the detail of other non-current assets (in thousands):
  September 30, 2025December 31, 2024
Bitcoin investment (i)
$1,001,419 $792,282 
Investment in non-marketable equity securities (ii)
418,198 245,557 
Property and equipment, net343,222 314,432 
Operating lease right-of-use assets213,944 219,954 
Investments in long-term debt securities176,784 471,977 
Restricted cash73,786 69,915 
Other211,432 131,794 
Total$2,438,785 $2,245,911 

(i) Refer to Note 11, Bitcoin for further details.

(ii) Investment in non-marketable equity securities represents the Company's investments in equity of non-public entities. These investments are measured using the measurement alternative and are therefore carried at cost, less impairment, adjusted for observable price changes from orderly transactions for identical or similar investments of the same issuer. During the quarter ended September 30, 2025, one of the Company's investments closed on an additional financing round, which the Company assessed as an observable price change in an orderly transaction. The Company recorded a $171.6 million upward adjustment to the carrying value of this investment, resulting in a carrying value of $329.8 million as of September 30, 2025. Adjustments are recorded within other expense (income), net on the condensed consolidated statements of operations.

The adjustments to the carrying value of the Company's non-marketable equity securities measured using the measurement alternative were as follows (in thousands):
Three Months Ended
September 30,		Nine Months Ended
September 30,
2025202420252024
Carrying amount, beginning of period$246,558 $213,315 $245,557 $205,268 
Net additions (reductions)— 500 1,001 4,500 
Gross unrealized gains171,640 — 171,640 4,145 
Gross unrealized losses and impairments— (2,250)— (2,348)
Carrying amount, end of period$418,198 $211,565 $418,198 $211,565 
The following table summarizes the cumulative net unrealized upward and downward adjustments related to the Company's non-marketable equity securities measured using the measurement alternative (in thousands):
  September 30, 2025December 31, 2024
Upward adjustments$326,969 $155,329 
Downward adjustments (including impairment)$(2,061)$(2,061)

Other Non-Current Liabilities

The following table presents the detail of other non-current liabilities (in thousands):
  September 30, 2025December 31, 2024
Operating lease liabilities, non-current$259,469 $278,617 
Deferred tax liabilities162,335 162,435 
Other122,810 152,164 
Total$544,614 $593,216