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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Operating activities    
Net loss $ (48,696) $ (107,414)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization 3,863 5,549
Provision for credit losses 43,861 45,995
Changes in fair value of derivative asset on loans to stockholders 0 5,572
Changes in fair value of earnout liabilities (35) (9,616)
Changes in fair value of warrant liabilities (239) (14,232)
Gain on extinguishment of liability 0 (4,290)
Stock-based compensation 20,146 34,074
Non-cash interest 2,320 1,534
Non-cash lease expense (17) (99)
Changes in fair value of marketable securities and short-term investments 211 776
Changes in operating assets and liabilities:    
Member advances, service based revenue (2,534) (5,351)
Prepaid income taxes 18 690
Prepaid expenses and other current assets 603 (5,276)
Accounts payable (2,334) 3,565
Accrued expenses 3,460 3,057
Legal settlement accrual (2,035) 6,349
Other current liabilities (612) (275)
Other non-current liabilities 4 0
Other non-current assets 137 0
Net cash provided by (used in) operating activities 18,121 (40,944)
Investing activities    
Payments for internally developed software costs (5,888) (6,442)
Purchase of property and equipment (658) (510)
Net disbursements and collections of Member advances (34,268) (77,629)
Purchase of short-term investments (92,024) (197,799)
Sale and maturity of short-term investments 137,193 10,249
Purchase of marketable securities (34,385) (300,641)
Sale of marketable securities 33,027 308,844
Net cash provided by (used in) investing activities 2,997 (263,928)
Financing activities    
Proceeds from PIPE offering 0 195,000
Proceeds from escrow account 0 29,688
Payment of issuance costs 0 (23,005)
Payment for fractional shares on reverse stock split (13) 0
Proceeds from issuance of common stock for stock option exercises 17 1,660
Repurchase of common stock 0 (1,583)
Proceeds from borrowings on convertible debt 0 100,000
Proceeds from borrowings on debt and credit facilities   10,000
Net cash provided by financing activities 4 311,760
Net increase in cash and cash equivalents and restricted cash 21,122 6,888
Cash and cash equivalents and restricted cash, beginning of the period 23,677 32,372
Cash and cash equivalents and restricted cash, end of the period 44,799 39,260
Supplemental disclosure of non-cash investing and financing activities:    
Property and equipment purchases in accounts payable and accrued liabilities 7 4
Conversion of convertible preferred stock to Class A common stock in connection with the reverse recapitalization 0 72,173
Recapitalization transaction costs liability incurred 0 7,500
Conversion of convertible notes and accrued interest to Class A common stock in connection with the reverse recapitalization 0 720
Conversion of B-1 warrants to Class A common stock in connection with the reverse recapitalization 0 3,365
Discharge of PIPE promissory note in connection with the reverse recapitalization 0 15,000
Supplemental disclosure of cash paid (received) for:    
Income taxes 4 (644)
Interest 3,608 3,761
The following table provides a reconciliation of cash and cash equivalents, and restricted cash reported within the condensed consolidated balance sheet with the same as shown in the condensed consolidated statement of cash flows    
Cash and cash equivalents 43,608 38,558
Restricted cash 1,191 702
Total cash, cash equivalents, and restricted cash, end of the period $ 44,799 $ 39,260