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Segment Information (Tables)
6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by 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.