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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2020
Cash Flows from Operating Activities      
Net Loss $ (707,417) $ (441,027) $ (112,598)
Adjustments to reconcile net loss to net cash used in operating activities:      
Provision for credit losses 255,272 65,878 105,067
Amortization of premiums and discounts on loans, net (171,965) (90,371) (27,605)
Gain on sales of loans (196,435) (89,926) (31,907)
Changes in fair value of assets and liabilities (101,789) 57,285 2,847
Amortization of commercial agreement assets 96,737 69,103 0
Amortization of debt issuance costs 16,152 6,416 2,313
Amortization of discount on securities available for sale 2,192 0 0
Commercial agreement warrant expense 254,679 0 0
Stock-based compensation 390,983 292,507 29,625
Depreciation and amortization 52,722 19,979 9,444
Impairment of right of use assets 362 11,544 0
Other (73,154) 5,129 81
Change in operating assets and liabilities:      
Purchases of loans held for sale (5,552,662) (2,640,734) (2,101,483)
Proceeds from the sale of loans held for sale 5,582,035 2,594,835 2,021,938
Accounts receivable, net (62,700) (22,934) (19,049)
Other assets (15,021) (209,139) 19,936
Accounts payable (24,686) 32,223 7,514
Payable to third-party loan owners 21,304 25,082 8,279
Accrued interest payable 3,907 1,395 428
Accrued expenses and other liabilities 67,290 119,625 13,868
Net Cash Used in Operating Activities (162,194) (193,130) (71,302)
Cash Flows from Investing Activities      
Purchases and origination of loans held for investment (10,362,048) (5,897,252) (2,830,320)
Proceeds from the sale of loans held for investment 1,898,607 824,011 303,433
Principal repayments and other loan servicing activity 8,121,583 4,324,618 2,294,833
Acquisition, net of cash and restricted cash acquired (5,999) (222,433) 0
Purchases of intangible assets (25,415) 0 0
Additions to property, equipment and software (86,290) (20,252) (21,019)
Purchases of securities available for sale (1,841,380) 0 0
Proceeds from maturities and repayments of securities available for sale 311,035 0 0
Other investing cash inflows 14,311 1,453 0
Other investing cash outflows (35,742) (32,178) 0
Net Cash Used in Investing Activities (2,011,338) (1,022,033) (253,073)
Cash Flows from Financing Activities      
Proceeds from issuance of convertible debt, net 1,704,300 0 75,000
Proceeds from funding debt 4,101,134 2,942,254 2,132,805
Payment of debt issuance costs (13,751) (12,499) (7,687)
Principal repayments of funding debt (4,090,562) (3,165,103) (1,882,155)
Proceeds from issuance of notes and residual trust certificates by securitization trusts 999,394 1,395,879 0
Principal repayments of notes issued by securitization trusts (552,046) (210,368) 0
Proceeds from issuance of redeemable convertible preferred stock, net 0 434,542 15,481
Repurchase and conversion of redeemable convertible preferred stock 0 (13) (22,591)
Proceeds from initial public offering, net 0 1,305,176 0
Proceeds from exercise of common stock options and warrants and contributions to ESPP 73,914 47,042 2,733
Repurchases of common stock (86) (800) (18,854)
Payments of tax withholding for stock-based compensation (185,178) (158,280) 0
Net Cash Provided by Financing Activities 2,037,119 2,577,830 294,732
Effect of exchange rate changes on cash, cash equivalents and restricted cash (5,412) 1,837 0
Net Increase in Cash, Cash Equivalents and Restricted Cash (141,825) 1,364,504 (29,643)
Cash, Cash equivalents and Restricted cash, Beginning of period 1,692,632 328,128 357,771
Cash, Cash Equivalents and Restricted Cash, End of Period 1,550,807 1,692,632 328,128
Reconciliation to amounts on consolidated balance sheets (as of period end)      
Cash and cash equivalents 1,255,171 1,466,558 267,059
Restricted cash 295,636 226,074 61,069
Total Cash, Cash Equivalents and Restricted Cash 1,550,807 1,692,632 328,128
Supplemental Disclosures of Cash Flow Information      
Cash payments for interest expense 51,524 41,690 28,085
Cash paid for operating leases 15,561 13,215 0
Cash paid for income taxes 220 219 0
Supplemental Disclosures of Non-Cash Investing and Financing Activities      
Stock-based compensation included in capitalized internal-use software 54,542 13,999 2,921
Issuance of common stock in connection with settlement of contingent consideration liability 32,109 0 0
Securities retained under unconsolidated securitization transactions 54,997 0 0
Issuance of common stock in connection with acquisition 10,000 331,498 0
Right of use assets obtained in exchange for operating lease liabilities 4,604 78,421 0
Additions to property and equipment included in accrued expenses 107 6 27
Conversion of redeemable convertible preferred stock 0 1,327,271 0
Issuance of warrants in exchange for commercial agreement 0 270,579 0
Conversion of convertible debt 0 88,559 0
Acquisition of commercial agreement asset $ 0 $ 25,900 $ 0