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Segment (Tables)

12 Months Ended

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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- Definition

Tabular disclosure of long-lived assets, excluding financial instruments, long-term customer relationships of a financial institution, mortgage rights, deferred policy acquisition costs, and deferred tax assets, by geographic areas located in the entity's country of domicile and foreign countries in which the entity holds assets.

+ References

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Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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