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Segment (Tables) | 12 Months Ended
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Dec. 31, 2024
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information | The following table presents a disaggregation of the Company’s consolidated net income:
| Year Ended December 31,
(in millions) | 2024 |  | 2023 |  | 2022
Payments-based revenue | $ | 2,990.1 |  |  | $ | 2,386.0 |  |  | $ | 1,857.1 |
Subscription and other revenues | 340.5 |  |  | 178.8 |  |  | 136.5 |
Network fees* | (1,976.2) |  |  | (1,624.4) |  |  | (1,266.1) |
Other costs of sales* (exclusive of depreciation of equipment under lease) | (381.3) |  |  | (252.6) |  |  | (257.3) |
General and administrative expenses: |  |  |  |  |
Employee and other general and administrative expenses* | (368.7) |  |  | (251.2) |  |  | (200.1) |
Equity-based compensation* | (67.9) |  |  | (59.1) |  |  | (50.4) |
Rent, office, occupancy and equipment expenses* | (22.9) |  |  | (19.0) |  |  | (16.9) |
Revaluation of contingent liabilities | (4.0) |  |  | (23.1) |  |  | 36.6 |
Depreciation and amortization expense* (a) | (199.5) |  |  | (153.8) |  |  | (96.5) |
Impairment of intangible assets | — |  |  | (18.6) |  |  | — |
Professional expenses* | (41.4) |  |  | (33.1) |  |  | (33.3) |
Advertising and marketing expenses* | (21.7) |  |  | (15.1) |  |  | (14.9) |
Interest income | 33.7 |  |  | 31.9 |  |  | 10.8 |
Other income (expense), net | 1.8 |  |  | (3.9) |  |  | 0.5 |
Gain on investments in securities | 66.7 |  |  | 12.2 |  |  | 15.1 |
Change in TRA liability | (289.0) |  |  | (3.4) |  |  | (1.7) |
Interest expense* | (61.8) |  |  | (32.1) |  |  | (32.5) |
Income tax benefit (expense)* | 296.1 |  |  | 3.4 |  |  | (0.2) |
Net income | $ | 294.5 |  |  | $ | 122.9 |  |  | $ | 86.7 |
* Denotes a significant segment expense reviewed by the CODM. (a)Depreciation and amortization expense includes depreciation of equipment under lease of $54.4 million, $35.3 million, and $28.4 million for the years ended December 31, 2024, 2023, and 2022, respectively.
Schedule of Revenue by Geographical Area | The following table presents a disaggregation of the Company’s revenue by geography:
| Year Ended December 31,
(in millions) | 2024 |  | 2023 |  | 2022
U.S. | $ | 2,770.7 |  |  | $ | 2,463.7 |  |  | $ | 1,985.6 |
International | 559.9 |  |  | 101.1 |  |  | 8.0 |
Gross revenue | $ | 3,330.6 |  |  | $ | 2,564.8 |  |  | $ | 1,993.6 |
Schedule of Long-Lived Assets by Geographic Areas | The following table summarizes long-lived assets based on geography, which consist of Equipment for lease, net, Property, plant and equipment, net, and ROU assets:
| As of December 31,
(in millions) | 2024 |  | 2023 |  | 2022
U.S. | $ | 205.2 |  |  | $ | 169.2 |  |  | $ | 122.5 |
International | 24.0 |  |  | 5.3 |  |  | — |
Total long-lived assets | $ | 229.2 |  |  | $ | 174.5 |  |  | $ | 122.5 |

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