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Balance Sheet Components | 6 Months Ended
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Jun. 30, 2025
Other Assets [Abstract] |
Balance Sheet Components | Balance Sheet Components Other Assets Other assets consisted of the following:
|  | December 31, 2024 |  | June 30, 2025
Line of credit receivable (at fair value)(1) |  | $ | 56,269 |  |  | $ | 107,456 |
Notes receivable and residual certificates (at fair value)(1)(3) |  | 22,055 |  |  | 54,708 |
Receivables |  | 48,233 |  |  | 44,682 |
Loan servicing assets (at fair value)(1) |  | 27,439 |  |  | 32,443 |
Prepaid expenses |  | 28,830 |  |  | 26,950 |
Other assets |  | 19,321 |  |  | 20,554 |
Intangible assets, net(2) |  | 9,431 |  |  | 8,860 |
Deposits |  | 5,185 |  |  | 4,616 |
Total other assets |  | $ | 216,763 |  |  | $ | 300,269 |
_________ (1)Refer to “Note 5. Fair Value Measurement” for further information. (2)Refer to “Note 6. Goodwill and Intangible Assets” for further information. (3)Refer to “Note 8. Borrowings” for further information on securitization notes pledged as collateral as part of the risk retention financing facility. Receivables represent amounts recognized as revenue but not yet collected in relation to servicing and other agreements with institutional investors and lending partners. Property, Equipment, and Software, Net Property, equipment, and software, net consisted of the following:
|  | December 31, 2024 |  | June 30, 2025
Internally developed software |  | $ | 68,481 |  |  | $ | 84,630 |
Leasehold improvements |  | 15,069 |  |  | 15,138 |
Computer and networking equipment |  | 6,069 |  |  | 6,115 |
Furniture and fixtures |  | 4,795 |  |  | 4,795 |
Total property, equipment, and software |  | 94,414 |  |  | 110,678 |
Accumulated depreciation and amortization |  | (55,401) |  |  | (66,736) |
Total property, equipment, and software, net |  | $ | 39,013 |  |  | $ | 43,942 |
For the three and six months ended June 30, 2024, depreciation and amortization expense on property, equipment, and software was $4.5 million and $9.1 million, respectively and $5.6 million and $11.7 million for the three and six months ended June 30, 2025, respectively. Capitalized internally developed software balances, net of accumulated amortization, were $31.0 million and $37.4 million as of December 31, 2024 and June 30, 2025, respectively. The Company recognized immaterial impairment charges to internally developed software during the three and six months ended June 30, 2024 and 2025. Accrued Expenses and Other Liabilities Accrued expenses and other liabilities consisted of the following:
|  | December 31, 2024 |  | June 30, 2025
Accrued expenses |  | $ | 37,781 |  |  | $ | 40,394 |
Accrued payroll |  | 64,514 |  |  | 34,081 |
Accounts payable |  | 12,381 |  |  | 28,765 |
Beneficial interest liabilities (at fair value) |  | 10,089 |  |  | 10,532 |
Other liabilities |  | 3,241 |  |  | 6,245 |
Trailing fee liability (at fair value) |  | 4,614 |  |  | 4,958 |
Loan servicing liabilities (at fair value) |  | 1,180 |  |  | 1,750 |
Total accrued expenses and other liabilities |  | $ | 133,800 |  |  | $ | 126,725 |

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- Definition The entire disclosure for supplemental balance sheet disclosures, including descriptions and amounts for assets, liabilities, and equity. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 210 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/210/tableOfContent + Details
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