v3.26.1
Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 1,214,374 $ 1,355,428
Short-term investments 211,391 224,088
Accounts receivable, net of expected credit losses of $4,450 and $5,611 as of March 31, 2026 and December 31, 2025, respectively 8,711 8,690
Prepaid and other current assets 98,625 113,953
Funds receivable and seller accounts 185,863 205,002
Current assets of discontinued operations 393,845 53,822
Total current assets 2,112,809 1,960,983
Restricted cash 7,591 8,524
Property and equipment, net of accumulated depreciation and amortization of $246,980 and $235,066 as of March 31, 2026 and December 31, 2025, respectively 202,426 205,552
Goodwill 37,600 38,067
Intangible assets, net of accumulated amortization of $33,072 and $32,479 as of March 31, 2026 and December 31, 2025, respectively 13,168 14,511
Deferred tax assets 114,612 119,051
Long-term investments 150,591 134,376
Other assets 42,256 38,964
Noncurrent assets of discontinued operations 0 307,226
Total assets 2,681,053 2,827,254
Current liabilities:    
Accounts payable 15,444 27,732
Accrued expenses 260,602 342,200
Short-term debt, net 649,301 649,008
Funds payable and amounts due to sellers 185,863 205,002
Deferred revenue 30,347 27,049
Other current liabilities 57,142 60,354
Current liabilities of discontinued operations 51,854 52,274
Total current liabilities 1,250,553 1,363,619
Finance lease obligations—net of current portion 91,902 93,482
Deferred tax liabilities 9,783 8,808
Long-term debt, net 2,334,570 2,333,230
Other liabilities 131,117 125,103
Noncurrent liabilities of discontinued operations 0 1,107
Total liabilities 3,817,925 3,925,349
Commitments and contingencies (Note 11)
Stockholders’ deficit:    
Common stock ($0.001 par value, 1,400,000 shares authorized as of March 31, 2026 and December 31, 2025; 94,887 and 97,031 shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively) 95 97
Preferred stock ($0.001 par value, 25,000 shares authorized as of March 31, 2026 and December 31, 2025) 0 0
Additional paid-in capital 1,583,820 1,532,204
Accumulated deficit (2,480,727) (2,404,020)
Accumulated other comprehensive loss (240,060) (226,376)
Total stockholders’ deficit (1,136,872) (1,098,095)
Total liabilities and stockholders’ deficit $ 2,681,053 $ 2,827,254

Source

10-Q XBRL Zip