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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 6,564,092 $ 8,075,247
Investments in short-term debt securities 517,777 403,426
Settlements receivable 1,359,983 1,060,966
Customer funds 4,771,824 4,182,872
Consumer receivables, net 2,670,322 2,504,879
Loans held for investment, net 3,382,957 365,062
Other current assets 3,589,925 3,287,749
Total current assets 22,856,880 19,880,201
Property and equipment, net 323,375 314,432
Goodwill 11,849,018 11,417,422
Acquired intangible assets, net 1,281,670 1,433,067
Investments in long-term debt securities 188,887 471,977
Bitcoin investment 777,515 792,282
Operating lease right-of-use assets 214,929 219,954
Deferred tax assets 1,302,776 1,800,994
Other non-current assets 754,837 447,266
Total assets 39,549,887 36,777,595
Current liabilities:    
Customers payable 6,805,366 5,837,152
Accrued expenses and other current liabilities 1,538,893 1,525,149
Current portion of long-term debt (Note 14) 1,573,259 999,497
Warehouse funding facilities, current 466,942 185,000
Total current liabilities 10,384,460 8,546,798
Deferred tax liabilities 1,173 162,435
Warehouse funding facilities, non-current 897,941 1,296,680
Long-term debt (Note 14) 5,715,759 5,105,939
Operating lease liabilities, non-current 257,126 278,617
Other non-current liabilities 123,546 152,164
Total liabilities 17,380,005 15,542,633
Commitments and contingencies (Note 19)
Stockholders’ equity:    
Preferred stock, $0.0000001 par value: 100,000 shares authorized at December 31, 2025 and December 31, 2024. None issued and outstanding at December 31, 2025 and December 31, 2024. 0 0
Additional paid-in capital 18,895,405 19,900,379
Accumulated other comprehensive loss (365,381) (1,001,065)
Retained earnings 3,674,254 2,368,618
Total stockholders’ equity attributable to common stockholders 22,204,278 21,267,932
Noncontrolling interests (34,396) (32,970)
Total stockholders’ equity 22,169,882 21,234,962
Total liabilities and stockholders’ equity 39,549,887 36,777,595
Class A    
Stockholders’ equity:    
Common stock 0 0
Class B    
Stockholders’ equity:    
Common stock $ 0 $ 0