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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2024
Jun. 30, 2024
Cash and cash equivalents $ 1,200,381 $ 1,013,106
Restricted cash 536,776 282,293
Securities available for sale at fair value 666,684 1,131,628
Loans held for sale 0 36
Loans held for investment 6,796,167 5,670,056
Allowance for credit losses (363,831) (309,097)
Loans held for investment, net 6,432,336 5,360,959
Accounts receivable, net 203,626 353,028
Property, equipment and software, net 506,334 427,686
Goodwill 521,699 533,439
Intangible assets 12,193 13,502
Commercial agreement assets 76,091 104,602
Other assets 324,957 299,340
Total assets 10,481,077 9,519,619
Liabilities and stockholders’ equity    
Accounts payable 50,626 41,019
Payable to third-party loan owners 157,245 159,643
Accrued interest payable 25,357 24,327
Accrued expenses and other liabilities 155,568 147,429
Convertible senior notes, net 1,151,048 1,341,430
Notes issued by securitization trusts 3,988,887 3,236,873
Funding debt 2,166,806 1,836,909
Total liabilities 7,695,537 6,787,630
Commitments and contingencies (Note 7)
Stockholders’ equity:    
Additional paid in capital 5,961,956 5,862,555
Accumulated deficit (3,128,866) (3,109,004)
Accumulated other comprehensive loss (47,553) (21,565)
Total stockholders’ equity 2,785,540 2,731,989
Total liabilities and stockholders’ equity 10,481,077 9,519,619
Assets of consolidated VIEs, included in total assets above    
Cash and cash equivalents 1,200,381 1,013,106
Restricted cash 536,776 282,293
Securities available for sale at fair value 666,684 1,131,628
Loans held for sale 0 36
Loans held for investment 6,796,167 5,670,056
Allowance for credit losses (363,831) (309,097)
Loans held for investment, net 6,432,336 5,360,959
Accounts receivable, net 203,626 353,028
Property, equipment and software, net 506,334 427,686
Goodwill 521,699 533,439
Intangible assets 12,193 13,502
Commercial agreement assets 76,091 104,602
Other assets 324,957 299,340
Total assets 10,481,077 9,519,619
Liabilities of consolidated VIEs, included in total liabilities above    
Accounts payable 50,626 41,019
Payable to third-party loan owners 157,245 159,643
Accrued interest payable 25,357 24,327
Accrued expenses and other liabilities 155,568 147,429
Convertible senior notes, net 1,151,048 1,341,430
Notes issued by securitization trusts 3,988,887 3,236,873
Funding debt 2,166,806 1,836,909
Total liabilities 7,695,537 6,787,630
Consolidated Variable Interest Entities    
Restricted cash 223,798 145,829
Loans held for investment 6,628,228 5,461,660
Allowance for credit losses (294,202) (242,991)
Loans held for investment, net 6,334,026 5,218,669
Accounts receivable, net 2,969 2,961
Other assets 6,349 10,676
Total assets 6,567,142 5,378,135
Liabilities and stockholders’ equity    
Accounts payable 2,695 2,830
Accrued interest payable 24,963 24,220
Accrued expenses and other liabilities 6,818 11,115
Notes issued by securitization trusts 3,988,887 3,236,873
Funding debt 2,115,772 1,794,984
Total liabilities 6,139,135 5,070,022
Assets of consolidated VIEs, included in total assets above    
Restricted cash 223,798 145,829
Loans held for investment 6,628,228 5,461,660
Allowance for credit losses (294,202) (242,991)
Loans held for investment, net 6,334,026 5,218,669
Accounts receivable, net 2,969 2,961
Other assets 6,349 10,676
Total assets 6,567,142 5,378,135
Liabilities of consolidated VIEs, included in total liabilities above    
Accounts payable 2,695 2,830
Accrued interest payable 24,963 24,220
Accrued expenses and other liabilities 6,818 11,115
Notes issued by securitization trusts 3,988,887 3,236,873
Funding debt 2,115,772 1,794,984
Total liabilities 6,139,135 5,070,022
Net Assets 428,007 308,113
Class A common stock    
Stockholders’ equity:    
Common stock 2 2
Class B common stock    
Stockholders’ equity:    
Common stock $ 1 $ 1