XML 20 R7.htm IDEA: XBRL DOCUMENT v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities    
Net income $ 254,961 $ 17,888
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, amortization, and other 25,928 27,641
Deferred income taxes (143,856) 0
Stock-based compensation expense, net 62,027 73,858
Donation of common stock 1,722 1,866
Changes in operating assets and liabilities:    
Prepaid expenses and other assets (7,277) (19,614)
Operating lease right-of-use assets 1,700 3,700
Accounts payable 15,965 4,443
Accrued expenses and other liabilities 4,930 13,397
Operating lease liabilities 412 12,293
Net cash provided by operating activities 216,512 135,472
Cash flows from investing activities    
Purchases of property and equipment (7,171) (18,484)
Capitalized internal-use software costs (6,531) (6,012)
Net (originations) collections from consumer receivables (6,613) (8,069)
Net cash used in investing activities (20,315) (32,565)
Cash flows from financing activities    
Proceeds from exercise of stock options 1,451 4,578
Proceeds from issuance of common stock in connection with ESPP 6,340 5,768
Cash paid for repurchase of common stock (65,164) 0
Proceeds from revolving credit facility borrowings 5,817,000 2,493,000
Repayments of revolving credit facility borrowings (5,972,000) (2,493,000)
Net change in customer funds assets and liabilities 155,461 38,622
Taxes paid related to net share settlement of equity awards (3,727) (11,617)
Payment of debt issuance costs 0 (2,628)
Net cash (used in) provided by financing activities (60,639) 34,723
Effect of foreign exchange rate changes on cash, cash equivalents, and restricted cash (1,723) 10,182
Net increase in cash, cash equivalents, and restricted cash 133,835 147,812
Cash, cash equivalents, and restricted cash at beginning of period 544,299 369,817
Cash, cash equivalents, and restricted cash at end of period 678,134 517,629
Reconciliation of cash, cash equivalents, and restricted cash    
Cash and cash equivalents 676,394 515,896
Restricted cash included in prepaid expenses and other current assets 485 664
Restricted cash included in other noncurrent assets, net 1,255 1,069
Total cash, cash equivalents, and restricted cash $ 678,134 $ 517,629