XML 19 R2.htm IDEA: XBRL DOCUMENT v3.25.2
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Current assets    
Cash and cash equivalents $ 291,070 $ 305,757
Marketable securities 343,509 316,344
Funds held in escrow, including funds in transit 212,033 195,736
Trade and client receivables – net of allowance of $5,325 and $4,646 as of June 30, 2025 and December 31, 2024, respectively 71,230 75,490
Prepaid expenses and other current assets 21,141 17,727
Total current assets 938,983 911,054
Property and equipment, net 38,109 30,056
Goodwill 141,473 121,064
Intangible assets, net 9,525 12,989
Operating lease asset 5,367 5,752
Deferred tax asset 126,715 128,779
Other assets, noncurrent 1,544 1,919
Total assets 1,261,716 1,211,613
Current liabilities    
Accounts payable 1,027 6,128
Escrow funds payable 212,033 195,736
Accrued expenses and other current liabilities 58,762 59,300
Deferred revenue 7,802 7,269
Total current liabilities 279,624 268,433
Debt, noncurrent 358,849 357,928
Operating lease liability, noncurrent 10,351 9,567
Other liabilities, noncurrent 4,238 308
Total liabilities 653,062 636,236
Commitments and contingencies (Note 7)
Stockholders’ equity    
Common stock, $0.0001 par value; 490,000,000 shares authorized as of June 30, 2025 and December 31, 2024; 132,506,031 and 135,348,453 shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively 13 14
Additional paid-in capital 615,937 653,575
Accumulated and other comprehensive income 724 264
Accumulated deficit (8,020) (78,476)
Total stockholders’ equity 608,654 575,377
Total liabilities and stockholders’ equity $ 1,261,716 $ 1,211,613