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Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Operating activities    
Net loss $ (206,192) $ (342,878)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization 68,754 50,966
Deferred debt issuance and discount expense 8,118 11,450
Share-based compensation expense 157,163 89,608
Deferred income taxes (2,319) 637
Fair value changes in residual interests classified as debt 5,625 13,668
Fair value changes in securitization investments 9,981 (5,502)
Fair value changes in warrant liabilities 0 160,909
Fair value adjustment to related party notes receivable 0 (169)
Other 29,929 (3,937)
Changes in operating assets and liabilities:    
Originations and purchases of loans (6,875,281) (5,749,363)
Proceeds from sales and repayments of loans 4,846,705 5,848,655
Other changes in loans 22,166 5,231
Servicing assets (8,705) (10,170)
Related party notes receivable interest income 0 1,399
Other assets (49,569) (21,752)
Accounts payable, accruals and other liabilities 36,902 33,856
Net cash provided by (used in) operating activities (1,956,723) 82,608
Investing activities    
Purchases of property, equipment, software and intangible assets (50,028) (26,808)
Purchases of available-for-sale investments (44,974) 0
Proceeds from sales of available-for-sale investments 23,497 0
Proceeds from maturities and paydowns of available-for-sale investments 13,906 0
Changes in loans, net (81,850) 0
Proceeds from non-securitization investments 0 107,534
Proceeds from securitization investments 75,991 141,920
Acquisition of businesses, net of cash acquired 58,540 0
Proceeds from repayment of related party notes receivable 0 16,693
Net cash provided by (used in) investing activities (4,918) 239,339
Financing activities    
Proceeds from debt issuances 4,710,980 3,849,645
Repayment of debt (4,986,952) (6,355,653)
Payment of debt issuance costs (3,976) (4,520)
Net change in deposits 2,496,253 0
Taxes paid related to net share settlement of share-based awards (5,846) (28,603)
Proceeds from stock option exercises 2,060 3,365
Payment of redeemable preferred stock dividends (20,047) (20,047)
Finance lease principal payments (241) (278)
Purchases of common stock 0 (526)
Redemptions of redeemable common and preferred stock 0 (282,859)
Proceeds from Business Combination and PIPE Investment 0 1,989,851
Payment of costs directly attributable to the issuance of common stock in connection with Business Combination and PIPE Investment 0 (26,951)
Net cash provided by (used in) financing activities 2,192,231 (876,576)
Effect of exchange rates on cash and cash equivalents (94) (346)
Net increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents 230,496 (554,975)
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period 768,437 1,323,428
Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period 998,933 768,453
Reconciliation to amounts on unaudited condensed consolidated balance sheets (as of period end)    
Cash and cash equivalents 707,302 461,920
Restricted cash and restricted cash equivalents 291,631 [1] 306,533
Total cash, cash equivalents, restricted cash and restricted cash equivalents 998,933 768,453
Supplemental non-cash investing and financing activities    
Issuance of common stock in acquisition 875,042 0
Vested awards assumed in acquisition 2,855 0
Loans received in acquisition 84,485 0
Debt assumed in acquisition 2,000 0
Deposits assumed in acquisition 158,016 0
Deposits credited but not yet received in cash 57,995 0
Available-for-sale securities received in acquisition 10,014 0
Property, equipment and software received in acquisition 3,192 0
Non-cash loan reduction 886 0
Share-based compensation capitalized related to internally-developed software 10,356 0
Non-cash property, equipment, software and intangible asset additions 191 896
Deferred debt issuance costs accrued but unpaid 163 550
Securitization investments acquired via loan transfers 0 47,265
Costs directly attributable to the issuance of common stock paid in 2020 0 588
Reduction to temporary equity associated with purchase price adjustments 0 743
Warrant liabilities recognized in conjunction with the Business Combination 0 200,250
Series H warrant liabilities conversion to common stock warrants 0 39,959
Conversion of temporary equity into permanent equity in conjunction with the Business Combination $ 0 $ 2,702,569
[1] Financial statement line items include amounts in consolidated variable interest entities (“VIEs”). See Note 5.(2)As of June 30, 2022 and December 31, 2021, includes loans held for sale measured at fair value of $7,959,382 and $5,952,972, respectively.