Balance Sheet Components

6 Months Ended

Jun. 30, 2023

Balance Sheet Related Disclosures [Abstract]

Cash and Cash Equivalents, Restricted Cash, and Funds Held In Escrow, Including Funds In Transit

The following table reconciles cash and cash equivalents, restricted cash, and funds held in escrow that are restricted as reported in the condensed consolidated balance sheets as of June 30, 2023 and

December 31, 2022 to the total of the same amounts shown in the condensed consolidated statement of cash flows for the six months ended June 30, 2023:


(In thousands)	June 30, 2023		December 31, 2022
Cash and cash equivalents	$	154,106	$	129,384
Restricted cash	4,390		4,390
Funds held in escrow, including funds in transit	177,655		161,457
Total cash, cash equivalents, and restricted cash as shown in the condensed consolidated statement of cash flows	$	336,151	$	295,231

Property and Equipment, Net

Property and equipment, net consisted of the following:


(In thousands)	June 30, 2023		December 31, 2022
Internal-use software and platform development	$	39,699	$	33,273
Leasehold improvements	11,644		11,644
Computer equipment and software	6,640		6,514
Office furniture and fixtures	3,475		3,475
Total property and equipment	61,458		54,906
Less: accumulated depreciation	(36,591)		(32,843)
Property and equipment, net	$	24,867	$	22,063

For the three months ended June 30, 2023 and 2022, depreciation expense related to property and equipment was $0.8 million and $0.8 million, respectively. For the six months ended June 30, 2023 and 2022, depreciation expense related to property and equipment was $1.5 million and $1.6 million, respectively.

For the three months ended June 30, 2023 and 2022, the Company capitalized $3.6 million and $1.7 million of internal-use software and platform development costs, respectively. For the six months ended June 30, 2023 and 2022, the Company capitalized $6.4 million and $2.9 million of internal-use software and platform development costs, respectively.

For the three months ended June 30, 2023 and 2022, amortization expense related to the capitalized internal-use software and platform development costs was $1.1 million and $1.2 million, respectively. For the six months ended June 30, 2023 and 2022, amortization expense related to the capitalized internal-use software and platform development costs was $2.3 million and $2.4 million, respectively.

Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities consisted of the following:


(In thousands)	June 30, 2023		December 31, 2022
Accrued compensation and related benefits	$	11,295	$	17,239
Accrued indirect taxes	13,196		14,102
Accrued vendor expenses	11,545		8,858
Operating lease liability, current	6,593		6,502
Accrued payment processing fees	2,494		2,425
Accrued talent costs	1,856		2,352
Other	1,838		2,133
Total accrued expenses and other current liabilities	$	48,817	$	53,611