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Segment Information
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Segment Information Segment Information
Operating segments are defined as components of an entity for which separate financial information is available and that is regularly provided to the CODM in deciding how to allocate resources to an individual segment and in assessing performance. The Company’s Chief Executive Officer is the Company’s CODM. The CODM reviews financial information presented on a consolidated basis for purposes of making operating decisions, allocating resources, and evaluating financial performance. The accounting policies of the Company’s reportable segment, as well as how the Company derives revenue, are consistent with those described in “Note 2—Basis of Presentation and Summary of Significant Accounting Policies” of the Company’s Annual Report on Form 10-K for the year ended December 31, 2024.
The CODM uses consolidated net income to assess performance, evaluate cost optimization, and allocate resources, including personnel-related and financial or capital resources, in the annual budget and forecasting process, as well as budget-to-actual variances on a monthly basis. As such, the Company has determined that it operates as one operating and reportable segment.
The following tables set forth significant expense categories and other specified amounts included in consolidated net income that are otherwise regularly provided to the CODM for the three and six months ended June 30, 2025 and 2024:
Three Months Ended
June 30,		Six Months Ended
June 30,
2025202420252024
Revenue
$194,939 $193,129 $387,645 $384,066 
Cost of revenue (1)
40,470 41,590 79,672 83,498 
Research and development (1)
36,529 42,935 75,073 87,594 
Sales and marketing (1)
34,664 43,931 68,414 88,837 
General and administrative (1)(2)(3)
24,446 22,064 47,386 47,276 
Provision for transaction losses1,769 1,774 4,028 2,701 
Stock-based compensation expense
15,977 19,238 28,249 36,180 
Depreciation and amortization5,879 3,629 10,740 6,775 
Interest income
(6,722)(6,173)(13,820)(13,858)
Interest expense
686 691 1,372 1,384 
Income tax provision5,717 1,181 12,994 2,510 
Other segment items (4)(5)
2,798 49 3,081 507 
Segment net income
$32,726 $22,220 $70,456 $40,662 
(1) For all periods presented, excludes stock-based compensation and depreciation and amortization included in cost of revenue, research and development, sales and marketing, and general and administrative expenses, as these amounts are regularly provided to the CODM.
(2) For all periods presented, excludes expenses related to the warrant to purchase 500,000 shares of the Company’s common stock at an exercise price of $0.01 per share issued to the Tides Foundation in 2018, which is referred to as the Tides Foundation Warrant.
(3) For the three and six months ended June 30, 2025, excludes acquisition-related costs.
(4) For the three and six months ended June 30, 2025 and 2024, the Company incurred $0.2 million and $0.4 million, respectively, of expenses related to the Tides Foundation Warrant.
(5) For each of the three and six months ended June 30, 2025, the Company incurred acquisition-related costs of $2.5 million in connection with the Company’s business combinations. These costs primarily consist of legal, accounting, and other professional fees, and are recorded in general and administrative expenses in the condensed consolidated statements of operations.
There are no reconciling items or adjustments between segment net revenues, net income, total assets and consolidated net revenues, net income and total assets.
Substantially all of the Company’s long-lived assets were located in the United States as of June 30, 2025 and December 31, 2024.