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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Current assets:    
Unrestricted cash and cash equivalents $ 1,118,804 $ 682,263
Restricted cash 226 4,239
Investment securities available-for-sale, at fair value 60,117 33,859
Settlement assets 876,101 737,989
Accounts receivable, net 89,325 110,141
Prepaid expenses and other assets 79,853 69,419
Total current assets 2,224,426 1,637,910
Investment securities available-for-sale, at fair value 2,118,855 2,203,142
Loans to bank customers, net of allowance for credit losses of $10,376 and $11,383 as of March 31, 2024 and December 31, 2023, respectively 39,629 30,534
Prepaid expenses and other assets 213,590 221,656
Property, equipment, and internal-use software, net 175,125 179,376
Operating lease right-of-use assets 4,614 5,342
Deferred expenses 1,404 1,546
Net deferred tax assets 129,314 117,139
Goodwill and intangible assets 414,067 420,477
Total assets 5,321,024 4,817,122
Current liabilities:    
Accounts payable 107,826 119,870
Deposits 3,743,301 3,293,603
Obligations to customers 356,529 314,278
Settlement obligations 66,178 57,001
Amounts due to card issuing banks for overdrawn accounts 111 225
Other accrued liabilities 110,405 91,239
Operating lease liabilities 3,388 3,369
Deferred revenue 5,628 6,343
Line of credit 45,000 61,000
Income tax payable 8,509 6,262
Total current liabilities 4,446,875 3,953,190
Other accrued liabilities 1,682 1,895
Operating lease liabilities 1,821 2,687
Total liabilities 4,450,378 3,957,772
Commitments and contingencies (Note 17)
Stockholders’ equity:    
Class A common stock, $0.001 par value; 100,000 shares authorized as of March 31, 2024 and December 31, 2023; 53,158 and 52,816 shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively 53 53
Additional paid-in capital 383,205 375,980
Retained earnings 775,054 770,304
Accumulated other comprehensive loss (287,666) (286,987)
Total stockholders’ equity 870,646 859,350
Total liabilities and stockholders’ equity $ 5,321,024 $ 4,817,122