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CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Millions
Mar. 31, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 340 $ 287
Restricted cash, cash equivalents and investments 1,122 1,694
Accounts receivable, net 7 20
Payroll funds receivable 451 264
Prepaid expenses, net 64 82
Other payroll assets 449 474
Other current assets 51 47
Total current assets 2,484 2,868
Restricted cash, cash equivalents and investments, noncurrent 122 128
Property and equipment, net 22 11
Operating lease right-of-use asset 38 36
Goodwill 461 461
Software and other intangible assets, net 155 153
Other assets 138 140
Total assets 3,420 3,797
Current liabilities:    
Accounts payable and other current liabilities 89 86
Client deposits and other client liabilities 49 57
Accrued wages 542 555
Accrued health insurance costs, net 193 207
Accrued workers' compensation costs, net 44 42
Payroll tax liabilities and other payroll withholdings 1,289 1,671
Operating lease liabilities 11 10
Insurance premiums and other payables 9 9
Total current liabilities 2,226 2,637
Long-term debt, noncurrent 896 895
Accrued workers' compensation costs, noncurrent, net 109 106
Deferred taxes 54 55
Operating lease liabilities, noncurrent 39 37
Other non-current liabilities 13 13
Total liabilities 3,337 3,743
Commitments and contingencies (see Note 5)
Stockholders' equity:    
Preferred stock, ($0.000025 par value per share; 20,000,000 shares authorized; no shares issued or outstanding at March 31, 2026 and December 31, 2025) 0 0
Common stock and additional paid-in capital, ($0.000025 par value per share; 750,000,000 shares authorized; 46,125,755 and 47,377,950 shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively) 1,151 1,135
Accumulated deficit (1,066) (1,081)
Accumulated other comprehensive loss (2) 0
Total stockholders' equity 83 54
Total liabilities & stockholders' equity $ 3,420 $ 3,797