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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Current assets:    
Unrestricted cash and cash equivalents $ 1,772,845 $ 1,592,391
Restricted cash 43 44
Investment securities available-for-sale, at fair value 102,037 24,152
Settlement assets 680,007 616,172
Accounts receivable, net 128,644 132,007
Prepaid expenses and other assets 62,706 63,424
Total current assets 2,746,282 2,428,190
Investment securities available-for-sale, at fair value 2,002,247 2,008,650
Loans to bank customers, net of allowance for credit losses of $22,356 and $17,542 as of March 31, 2025 and December 31, 2024, respectively 38,710 31,961
Prepaid expenses and other assets 240,258 242,707
Property, equipment, and internal-use software, net 194,604 188,363
Operating lease right-of-use assets 10,091 10,823
Deferred expenses 985 1,242
Net deferred tax assets 102,639 124,405
Goodwill and intangible assets 392,069 397,941
Total assets 5,727,885 5,434,282
Current liabilities:    
Accounts payable 116,449 103,765
Deposits 4,166,873 4,010,520
Obligations to customers 234,879 236,616
Settlement obligations 77,468 48,482
Amounts due to card issuing banks for overdrawn accounts 0 84
Other accrued liabilities 91,200 87,675
Operating lease liabilities 2,260 2,416
Deferred revenue 4,797 6,279
Income tax payable 14,337 6,648
Total current liabilities 4,708,263 4,502,485
Other accrued liabilities 829 1,045
Operating lease liabilities 7,888 8,641
Notes payable 63,242 48,526
Total liabilities 4,780,222 4,560,697
Commitments and contingencies (Note 17)
Stockholders’ equity:    
Class A common stock, $0.001 par value; 100,000 shares authorized as of March 31, 2025 and December 31, 2024; 54,873 and 54,227 shares issued and outstanding as of March 31, 2025 and December 31, 2024, respectively 55 55
Additional paid-in capital 408,602 408,010
Retained earnings 769,375 743,602
Accumulated other comprehensive loss (230,369) (278,082)
Total stockholders’ equity 947,663 873,585
Total liabilities and stockholders’ equity $ 5,727,885 $ 5,434,282