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FY2025
12 months to Dec 31, 2025
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|---|---|
| Operating activities: | |
| Net loss | |
| Adjustments to reconcile net loss to net cash provided by operating activities: | |
| Depreciation and amortization | |
| Non-cash lease expense | |
| Stock-based compensation | |
| Stock-based charitable contribution | |
| Provision for transaction dispute losses | |
| Change in fair value of product obligation | |
| Provision for credit losses | |
| Impairment related to real estate assets and internal-use software | |
| Amortization of premium on marketable securities | |
| Other | |
| Changes in operating assets and liabilities: | |
| Product collateral | |
| Accounts receivable, net | |
| Prepaid expenses and other assets | |
| Accounts payable | |
| Accrued and other liabilities | |
| Operating lease liabilities | |
| Settlements of the product obligation | |
| Cash flows (used in) provided by operating activities | |
| Investing activities: | |
| Purchase of marketable securities | |
| Proceeds from sales of marketable securities | |
| Proceeds from maturities of marketable securities | |
| Purchases of loans held for investment | |
| Repayments of loans held for investment | |
| Purchase of property, equipment and software | |
| Capitalization of internal-use software | |
| Acquisition of business, net of cash acquired | |
| Cash flows (used in) provided by investing activities | |
| Financing activities: | |
| Payment of debt issuance costs related to credit facilities | |
| Proceeds from the issuance of common stock upon initial public offering, net of underwriting discounts and offering costs paid | |
| Taxes paid related to net share settlement of restricted stock units | |
| Proceeds from exercise of stock options | |
| Repurchases of common stock | |
| Cash flows provided by financing activities | |
| Net increase in cash and cash equivalents and restricted cash | |
| Cash, cash equivalents, and restricted cash, beginning of period | |
| Cash, cash equivalents, and restricted cash, end of period | |
| Supplementary cash flow disclosure: | |
| Cash paid for interest | |
| Cash paid for income taxes, net of refunds received | |
| Supplemental disclosures of noncash investing and financing activities: | |
| Vesting of early exercised stock options | |
| Reclassification of deferred offering costs to additional paid-in capital upon initial public offering | |
| Conversion of redeemable convertible preferred stock to common stock in connection with initial public offering | |
| Purchases of property, equipment and software in accounts payable | |
| Right-of-use assets obtained in exchange for lease obligations | |
| Cash and cash equivalents, end of the period | |
| Restricted cash, end of the period |
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