v3.25.3
Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 1,248,940 $ 811,178
Short-term investments 259,211 228,322
Accounts receivable, net of expected credit losses of $5,833 and $6,089 as of September 30, 2025 and December 31, 2024, respectively 7,412 8,702
Prepaid and other current assets 109,827 89,931
Funds receivable and seller accounts 168,237 189,558
Total current assets 1,793,627 1,327,691
Restricted cash 1,962 0
Property and equipment, net of accumulated depreciation and amortization of $307,844 and $302,734 as of September 30, 2025 and December 31, 2024, respectively 231,825 236,706
Goodwill 38,060 137,089
Intangible assets, net of accumulated amortization of $128,740 and $161,495 as of September 30, 2025 and December 31, 2024, respectively 304,052 413,898
Deferred tax assets 134,342 145,630
Long-term investments 108,346 111,725
Other assets 40,597 45,043
Total assets 2,652,811 2,417,782
Current liabilities:    
Accounts payable 9,215 25,979
Accrued expenses 309,348 374,947
Finance lease obligations—current 1,197 6,148
Funds payable and amounts due to sellers 168,237 189,558
Deferred revenue 25,612 19,213
Other current liabilities 51,463 49,268
Total current liabilities 565,072 665,113
Finance lease obligations—net of current portion 93,857 93,482
Deferred tax liabilities 5,346 7,957
Long-term debt, net 2,980,605 2,288,083
Other liabilities 120,515 122,013
Total liabilities 3,765,395 3,176,648
Commitments and contingencies (Note 11)
Stockholders’ deficit:    
Common stock ($0.001 par value, 1,400,000 shares authorized as of September 30, 2025 and December 31, 2024; 98,528 and 108,540 shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively) 99 109
Preferred stock ($0.001 par value, 25,000 shares authorized as of September 30, 2025 and December 31, 2024) 0 0
Additional paid-in capital 1,494,175 1,322,809
Accumulated deficit (2,380,707) (1,784,037)
Accumulated other comprehensive loss (226,151) (297,747)
Total stockholders’ deficit (1,112,584) (758,866)
Total liabilities and stockholders’ deficit $ 2,652,811 $ 2,417,782

Source

10-Q XBRL Zip