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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2021
Dec. 31, 2020
Current assets    
Cash and cash equivalents $ 403,262 $ 186,694
Disbursement prefunding 119,627 101,558
Customer funds receivable, net 67,215 50,729
Prepaid expenses and other current assets 17,448 6,350
Total current assets 607,552 345,331
Restricted cash 51 1,381
Property and equipment, net 9,249 9,675
Operating lease right-of-use assets 5,302 5,605
Other non-current assets, net 3,510 997
Total assets 625,664 362,989
Current liabilities    
Accounts payable 1,210 4,256
Borrowings 0 80,000
Customer liabilities 70,483 54,819
Accrued expenses and other current liabilities 66,683 39,742
Operating lease liabilities 3,240 2,959
Total current liabilities 141,616 181,776
Operating lease liabilities, non-current 2,907 4,008
Other non-current liabilities 813 827
Total liabilities 145,336 186,611
Commitments and contingencies (Note 14)
Redeemable convertible preferred stock, $0.0001 par value per share; 50,000,000 and 132,674,735 shares authorized as of December 31, 2021 and 2020, respectively; zero and 127,082,605 shares issued and outstanding as of December 31, 2021 and 2020, respectively; liquidation preference of zero and $399,815 as of December 31, 2021 and 2020, respectively 0 387,707
Stockholders' equity (deficit)    
Common stock, $0.0001 par value; 725,000,000 and 190,000,000 shares authorized as of December 31, 2021 and 2020, respectively; 164,239,555 and 24,289,906 shares issued and outstanding, as of December 31, 2021 and 2020, respectively 16 2
Additional paid-in capital 739,503 8,766
Accumulated other comprehensive income 253 591
Accumulated deficit (259,444) (220,688)
Total stockholders' equity (deficit) 480,328 (211,329)
Total liabilities, redeemable convertible preferred stock, and stockholders' equity (deficit) $ 625,664 $ 362,989