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Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Current Assets    
Cash and cash equivalents $ 104,147 $ 73,185
Restricted cash, current, including amounts held by variable interest entity (“VIE”) of $9,930 and $4,096, respectively 10,915 4,850
Notes receivable 217,849 190,665
Allowance for credit losses (33,718) (26,103)
Notes receivable, net, including amounts held by VIE of $156,000 and $152,174, respectively 184,131 164,562
Other receivables, net 7,423 3,629
Prepaid expenses and other current assets 22,838 11,393
Total current assets 329,454 257,619
Non-Current Assets    
Internally developed intangible assets, net 3,094 2,442
Operating right-of-use assets 700 800
Restricted cash, non-current 19,594 20,275
Deferred tax asset, net of $4,013 and $3,742 valuation allowance, respectively 13,443 16,905
Other assets 679 331
Total Assets 366,964 298,372
Current Liabilities    
Merchant accounts payable 57,829 68,967
Other payables 6,422 7,455
Deferred revenue 4,845 4,234
Other current liabilities 24,566 25,021
Total current liabilities 93,662 105,677
Non-Current Liabilities    
Operating lease liabilities 711 823
Line of credit, net of unamortized debt issuance costs of $688 and $1,008, respectively, held by VIE 117,312 103,992
Other non-current liabilities 9 45
Total Liabilities 211,694 210,537
Commitments and Contingencies (see Note 8)
Stockholders' Equity    
Common stock and additional paid-in capital, $0.00001 par value; 750,000 shares authorized; 35,423 and 34,786 shares issued, respectively; 34,153 and 33,735 shares outstanding, respectively [1] 196,004 188,589
Treasury stock, at cost: 1,270 and 1,051 shares, respectively [1] (20,474) (9,391)
Accumulated other comprehensive loss [1] (1,105) (1,588)
Accumulated deficit [1] (19,155) (89,775)
Total Stockholders' Equity [1] 155,270 87,835
Total Liabilities and Stockholders' Equity $ 366,964 $ 298,372
[1] Effective March 28, 2025, we performed a 6-for-1 stock split of the Company’s common stock, affected through a stock dividend. Share and per share amounts have been retroactively adjusted.