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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income (loss) $ 215,586 $ 46,887 $ (89,885)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Provision for transaction losses 5,505 8,673 23,306
Depreciation and amortization 14,813 9,449 8,057
Amortization of debt issuance costs 1,842 2,098 2,961
Accretion of discount on purchases of marketable securities, net (11,911) (14,430) (1,486)
Amortization of operating lease asset 2,837 3,269 3,079
Tides Foundation common stock warrant expense 750 750 750
Stock-based compensation expense 68,391 74,195 75,501
Deferred taxes (129,258) 0 0
Gain on early extinguishment of convertible senior notes 0 (38,945) 0
Changes in operating assets and liabilities:      
Trade and client receivables (4,802) (22,176) (15,292)
Prepaid expenses and other assets (656) 146 (630)
Operating lease liability (4,351) (5,903) (5,389)
Accounts payable 969 (2,513) 2,579
Accrued expenses and other liabilities 4,730 5,746 3,689
Deferred revenue (10,882) (14,538) 4,257
Net cash provided by operating activities 153,563 52,708 11,497
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchases of marketable securities (362,322) (709,214) (581,887)
Proceeds from maturities of marketable securities 486,892 648,800 521,152
Proceeds from sale of marketable securities 41,775 165,035 0
Purchase of an intangible asset 0 (3,000) 0
Acquisition of business, net of cash acquired (14,333) 0 0
Purchases of property and equipment (3,528) (692) (1,248)
Internal-use software and platform development costs (10,916) (12,659) (7,485)
Net cash provided by (used in) investing activities 137,568 88,270 (69,468)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Changes in escrow funds payable, net 9,956 25,443 (4,294)
Proceeds from exercises of stock options and common stock warrant 3,293 2,012 1,643
Proceeds from employee stock purchase plan 4,795 4,081 3,794
Net cash paid for early extinguishment of convertible senior notes 0 (171,327) 0
Repurchase of common stock (100,000) 0 0
Net cash provided by (used in) financing activities (81,956) (139,791) 1,143
NET CHANGE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH 209,175 1,187 (56,827)
Cash, cash equivalents, and restricted cash—beginning of period 296,418 295,231 352,058
Cash, cash equivalents, and restricted cash—end of period 505,593 296,418 295,231
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:      
Cash paid for income taxes 4,590 1,982 0
Cash paid for interest 920 1,321 1,541
SUPPLEMENTAL DISCLOSURES OF NON-CASH ACTIVITIES:      
Right-of-use asset recognized 4,436 0 0
Property and equipment purchased but not yet paid 26 27 0
Internal-use software and platform development costs incurred but not yet paid $ 400 $ 215 $ 73