Marqeta (MQ) 10-Q 10 Aug 22 2022 Q2 Quarterly report Financial data

Cover page

Cover page - shares	6 Months Ended
	Jun. 30, 2022	Aug. 05, 2022
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2022
Document Transition Report	false
Entity File Number	001-40465
Entity Registrant Name	Marqeta, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	27-4306690
Entity Address, Address Line One	180 Grand Avenue
Entity Address, Address Line Two	6th Floor
Entity Address, City or Town	Oakland
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94612
City Area Code	888
Local Phone Number	462-7738
Title of 12(b) Security	Class A common stock, $0.0001 par value per share
Trading Symbol	MQ
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Central Index Key	0001522540
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Amendment Flag	false
Document Fiscal Period Focus	Q2
Class A Common Stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		445,684,316
Class B Common Stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		103,183,503

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 1,220,273	$ 1,247,581
Restricted cash	7,800	7,800
Marketable securities	444,873	452,875
Accounts receivable, net	8,109	13,187
Settlements receivable, net	10,433	11,266
Network incentives receivable	13,266	30,399
Prepaid expenses and other current assets	38,642	35,617
Total current assets	1,743,396	1,798,725
Property and equipment, net	8,643	9,687
Operating lease right-of-use assets, net	10,185	11,296
Equity method investment	7,875	8,384
Other assets	6,831	2,286
Total assets	1,776,930	1,830,378
Current liabilities:
Accounts payable	901	2,693
Revenue share payable	117,087	121,179
Accrued expenses and other current liabilities	110,517	114,096
Total current liabilities	228,505	237,968
Operating lease liabilities, net of current portion	10,786	12,427
Other liabilities	3,082	6,557
Total liabilities	242,373	256,952
Commitments and contingencies (Note 7)
Stockholders’ equity:
Preferred stock, $0.0001 par value; 100,000,000 and 100,000,000 shares authorized, no shares issued and outstanding as of June 30, 2022 and December 31, 2021, respectively	0	0
Common stock, $0.0001 par value: 1,500,000,000 and 1,500,000,000 Class A shares authorized, 442,733,727 and 421,792,153 shares issued and outstanding as of June 30, 2022 and December 31, 2021, respectively. 600,000,000 and 600,000,000 Class B shares authorized, 103,200,003 and 119,591,365 shares issued and outstanding as of June 30, 2022 and December 31, 2021, respectively	54	54
Additional paid-in capital	2,067,435	1,993,055
Accumulated other comprehensive loss	(10,193)	(2,230)
Accumulated deficit	(522,739)	(417,453)
Total stockholders’ equity	1,534,557	1,573,426
Total liabilities and stockholders’ equity	$ 1,776,930	$ 1,830,378

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parentheticals) - $ / shares	Jun. 30, 2022	Dec. 31, 2021
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)	100,000,000	100,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Class A Common Stock
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	1,500,000,000	1,500,000,000
Common stock, shares issued (in shares)	442,733,727	421,792,153
Common stock, shares, outstanding (in shares)	442,733,727	421,792,153
Class B Common Stock
Common stock, shares authorized (in shares)	600,000,000	600,000,000
Common stock, shares issued (in shares)	103,200,003	119,591,365
Common stock, shares, outstanding (in shares)	103,200,003	119,591,365

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Income Statement [Abstract]
Net revenue	$ 186,678	$ 122,266	$ 352,780	$ 230,249
Costs of revenue	108,629	75,291	200,005	133,417
Gross profit	78,049	46,975	152,775	96,832
Operating expenses:
Compensation and benefits	97,868	97,755	198,216	144,658
Technology	13,154	7,569	24,538	13,195
Professional services	5,794	3,831	10,564	8,028
Occupancy	1,148	907	2,263	1,993
Depreciation and amortization	921	874	1,900	1,781
Marketing and advertising	886	495	1,445	990
Other operating expenses	4,995	3,530	9,838	4,825
Total operating expenses	124,766	114,961	248,764	175,470
Loss from operations	(46,717)	(67,986)	(95,989)	(78,638)
Other income (expense), net	1,802	(481)	(9,875)	(2,648)
Loss before income tax expense	(44,915)	(68,467)	(105,864)	(81,286)
Income tax expense (benefit)	(227)	87	(578)	106
Net loss	(44,688)	(68,554)	(105,286)	(81,392)
Other comprehensive income (loss), net of taxes:
Change in foreign currency translation adjustment	(181)	(12)	(200)	(26)
Net change in unrealized gain (loss) on marketable securities	(1,896)	(56)	(7,763)	(87)
Net other comprehensive income (loss)	(2,077)	(68)	(7,963)	(113)
Comprehensive loss	$ (46,765)	$ (68,622)	$ (113,249)	$ (81,505)
Net loss per share attributable to common stockholders, basic (in dollars per share)	$ (0.08)	$ (0.29)	$ (0.19)	$ (0.44)
Net loss per share attributable to common stockholders, diluted (in dollars per share)	$ (0.08)	$ (0.29)	$ (0.19)	$ (0.44)
Weighted-average shares used in computing net loss per share attributable to common stockholders - basic (in shares)	544,704,146	234,669,664	543,524,008	183,784,697
Weighted-average shares used in computing net loss per share attributable to common stockholders - diluted (in shares)	544,704,146	234,669,664	543,524,008	183,784,697

Condensed Consolidated Statem_2

Condensed Consolidated Statement of Redeemable Convertible Preferred Stock and Stockholders' Equity (Deficit) - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Income (loss)	Accumulated Deficit
Redeemable convertible preferred stock beginning balance (in shares) at Dec. 31, 2020	351,844,340
Redeemable convertible preferred stock beginning balance at Dec. 31, 2020	$ 501,881
Redeemable convertible preferred stock ending balance (in shares) at Mar. 31, 2021	351,844,340
Redeemable convertible preferred stock ending balance at Mar. 31, 2021	$ 501,881
Balance at the beginning of the period (in shares) at Dec. 31, 2020		130,312,838
Balance at the beginning of the period at Dec. 31, 2020	(213,717)	$ 13	$ 39,769	$ 25	$ (253,524)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon exercise of vested options (in shares)		1,904,186
Issuance of common stock upon exercise of options	1,410		1,410
Repurchase of early exercised stock options (in shares)		(18,567)
Issuance of common stock upon early exercise of unvested options ( in shares)		319,883
Vesting of early exercised stock options	223		223
Share-based compensation expense	11,392		11,392
Change in accumulated other comprehensive income (loss)	(45)			(45)
Net loss	(12,838)				(12,838)
Balance at the end of the period (in shares) at Mar. 31, 2021		132,518,340
Balance at the end of the period at Mar. 31, 2021	$ (213,575)	$ 13	52,794	(20)	(266,362)
Redeemable convertible preferred stock beginning balance (in shares) at Dec. 31, 2020	351,844,340
Redeemable convertible preferred stock beginning balance at Dec. 31, 2020	$ 501,881
Redeemable convertible preferred stock ending balance (in shares) at Jun. 30, 2021	0
Redeemable convertible preferred stock ending balance at Jun. 30, 2021	$ 0
Balance at the beginning of the period (in shares) at Dec. 31, 2020		130,312,838
Balance at the beginning of the period at Dec. 31, 2020	(213,717)	$ 13	39,769	25	(253,524)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(81,392)
Balance at the end of the period (in shares) at Jun. 30, 2021		538,883,451
Balance at the end of the period at Jun. 30, 2021	$ 1,585,986	$ 54	1,920,936	(88)	(334,916)
Redeemable convertible preferred stock beginning balance (in shares) at Mar. 31, 2021	351,844,340
Redeemable convertible preferred stock beginning balance at Mar. 31, 2021	$ 501,881
Preferred Stock
Conversion of redeemable convertible preferred stock to common stock upon initial public offering (in shares)	(351,844,340)
Conversion of redeemable convertible preferred stock to common stock upon initial public offering	$ (501,881)
Redeemable convertible preferred stock ending balance (in shares) at Jun. 30, 2021	0
Redeemable convertible preferred stock ending balance at Jun. 30, 2021	$ 0
Balance at the beginning of the period (in shares) at Mar. 31, 2021		132,518,340
Balance at the beginning of the period at Mar. 31, 2021	(213,575)	$ 13	52,794	(20)	(266,362)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon exercise of vested options (in shares)		859,343
Issuance of common stock upon exercise of options	1,161		1,161
Repurchase of early exercised stock options (in shares)		(9,897)
Issuance of common stock net settlement of restricted stock units (in shares)		730,186
Issuance of common stock upon net settlement of restricted stock units	(10,273)		(10,273)
Vesting of common stock warrants	2,102		2,102
Issuance of common stock upon Initial public offering, net of issuance costs (in shares)		52,272,727
Issuance of common stock upon initial public offering, net of issuance costs	1,312,338	$ 7	1,312,331
Conversion of redeemable convertible preferred stock to common stock upon initial public offering (in shares)		351,844,340
Conversion of redeemable convertible preferred stock to common stock upon initial public offering	501,881	$ 34	501,847
Reclassification of redeemable convertible preferred stock warrant liabilities to common stock and additional paid-in capital upon initial public offering	5,438		5,438
Issuance of common stock upon exercise of common stock warrants (in shares)		668,412
Issuance of common stock upon exercise of common stock warrants	0
Share-based compensation expense	55,536		55,536
Change in accumulated other comprehensive income (loss)	(68)			(68)
Net loss	(68,554)				(68,554)
Balance at the end of the period (in shares) at Jun. 30, 2021		538,883,451
Balance at the end of the period at Jun. 30, 2021	$ 1,585,986	$ 54	1,920,936	(88)	(334,916)
Redeemable convertible preferred stock beginning balance (in shares) at Dec. 31, 2021	0
Redeemable convertible preferred stock beginning balance at Dec. 31, 2021	$ 0
Redeemable convertible preferred stock ending balance (in shares) at Mar. 31, 2022	0
Redeemable convertible preferred stock ending balance at Mar. 31, 2022	$ 0
Balance at the beginning of the period (in shares) at Dec. 31, 2021		541,383,518
Balance at the beginning of the period at Dec. 31, 2021	1,573,426	$ 54	1,993,055	(2,230)	(417,453)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon exercise of vested options (in shares)		1,604,022
Issuance of common stock upon exercise of options	2,285		2,285
Repurchase of early exercised stock options (in shares)		(22,751)
Issuance of common stock net settlement of restricted stock units (in shares)		642,827
Issuance of common stock upon net settlement of restricted stock units	(4,702)		(4,702)
Vesting of common stock warrants	2,102		2,102
Share-based compensation expense	37,005		37,005
Change in accumulated other comprehensive income (loss)	(5,886)			(5,886)
Net loss	(60,598)				(60,598)
Balance at the end of the period (in shares) at Mar. 31, 2022		543,607,616
Balance at the end of the period at Mar. 31, 2022	$ 1,543,632	$ 54	2,029,745	(8,116)	(478,051)
Redeemable convertible preferred stock beginning balance (in shares) at Dec. 31, 2021	0
Redeemable convertible preferred stock beginning balance at Dec. 31, 2021	$ 0
Redeemable convertible preferred stock ending balance (in shares) at Jun. 30, 2022	0
Redeemable convertible preferred stock ending balance at Jun. 30, 2022	$ 0
Balance at the beginning of the period (in shares) at Dec. 31, 2021		541,383,518
Balance at the beginning of the period at Dec. 31, 2021	1,573,426	$ 54	1,993,055	(2,230)	(417,453)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(105,286)
Balance at the end of the period (in shares) at Jun. 30, 2022		545,933,730
Balance at the end of the period at Jun. 30, 2022	$ 1,534,557	$ 54	2,067,435	(10,193)	(522,739)
Redeemable convertible preferred stock beginning balance (in shares) at Mar. 31, 2022	0
Redeemable convertible preferred stock beginning balance at Mar. 31, 2022	$ 0
Redeemable convertible preferred stock ending balance (in shares) at Jun. 30, 2022	0
Redeemable convertible preferred stock ending balance at Jun. 30, 2022	$ 0
Balance at the beginning of the period (in shares) at Mar. 31, 2022		543,607,616
Balance at the beginning of the period at Mar. 31, 2022	1,543,632	$ 54	2,029,745	(8,116)	(478,051)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon exercise of vested options (in shares)		1,314,467
Issuance of common stock upon exercise of options	1,543		1,543
Repurchase of early exercised stock options (in shares)		(28,268)
Issuance of common stock under employee stock purchase plan (in shares)		368,955
Issuance of common stock under employee stock purchase plan	2,775		2,775
Issuance of common stock net settlement of restricted stock units (in shares)		670,960
Issuance of common stock upon net settlement of restricted stock units	(3,878)		(3,878)
Vesting of common stock warrants	2,102		2,102
Share-based compensation expense	35,148		35,148
Change in accumulated other comprehensive income (loss)	(2,077)			(2,077)
Net loss	(44,688)				(44,688)
Balance at the end of the period (in shares) at Jun. 30, 2022		545,933,730
Balance at the end of the period at Jun. 30, 2022	$ 1,534,557	$ 54	$ 2,067,435	$ (10,193)	$ (522,739)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Cash flows from operating activities:
Net loss	$ (105,286)	$ (81,392)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	1,900	1,781
Share-based compensation expense	72,153	66,928
Non-cash operating leases expense	1,111	1,058
Amortization of premium on marketable securities	338	716
Impairment of other financial instruments	11,616	0
Other	326	2,974
Changes in operating assets and liabilities:
Accounts receivable	5,067	2,416
Settlements receivable	833	3,269
Network incentives receivable	17,133	(17,415)
Prepaid expenses and other assets	(14,982)	354
Accounts payable	(1,609)	(18)
Revenue share payable	(4,092)	3,824
Accrued expenses and other liabilities	(6,987)	22,738
Operating lease liabilities	(1,464)	(1,420)
Net cash (used in) provided by operating activities	(23,943)	5,813
Cash flows from investing activities:
Purchases of property and equipment	(868)	(1,096)
Purchases of marketable securities	(12,999)	(13,145)
Maturities of marketable securities	12,900	57,188
Net cash (used in) provided by investing activities	(967)	42,947
Cash flows from financing activities:
Proceeds from initial public offering, net of underwriters’ discounts and commissions	0	1,319,809
Proceeds from exercise of stock options, including early exercised stock options, net of repurchase of early exercised unvested options	3,407	2,539
Proceeds from shares issued in connection with employee stock purchase plan	2,775	0
Taxes paid related to net share settlement of restricted stock units	(8,580)	(10,273)
Payment of deferred offering costs	0	(1,981)
Net cash (used in) provided by financing activities	(2,398)	1,310,094
Net (decrease) increase in cash, cash equivalents, and restricted cash	(27,308)	1,358,854
Cash, cash equivalents, and restricted cash- Beginning of period	1,255,381	228,233
Cash, cash equivalents, and restricted cash - End of period	1,228,073	1,587,087
Reconciliation of cash, cash equivalents, and restricted cash
Cash and cash equivalents	1,220,273	1,579,287
Restricted cash	7,800	7,800
Total cash, cash equivalents, and restricted cash	1,228,073	1,587,087
Supplemental disclosures of cash flow information:
Cash paid for income taxes	84	0
Supplemental disclosures of non-cash investing and financing activities:
Purchase of property and equipment accrued and not yet paid	1,184	1,476
Deferred offering costs not yet paid	$ 0	$ 1,153

Business Overview and Basis of

Business Overview and Basis of Presentation	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Business Overview and Basis of Presentation	Business Overview and Basis of Presentation Marqeta, Inc., or the Company, creates digital payment technology for innovation leaders. The Company's modern card issuing platform, or the Platform, places control over payment transactions into the hands of its customers, or Customers, enabling them to develop modern, state-of-the-art product experiences. The Company provides all of its Customers with issuer processor services and for most of its Customers it also acts as a card program manager. The Company primarily earns revenue from processing card transactions for its Customers. The Company was incorporated in the state of Delaware in 2010 and is headquartered in Oakland, California, with offices in the United States, United Kingdom, and Australia and a legal entity in Singapore as of June 30, 2022. Initial Public Offering In June 2021, the Company completed an initial public offering, or the IPO, in which the Company issued and sold 52,272,727 shares of its newly authorized Class A common stock, which included 6,818,181 shares that were offered and sold pursuant to the full exercise of the underwriters’ option to purchase additional shares at a price of $27.00 per share. The Company received aggregate net proceeds of $1.3 billion after deducting underwriting discounts and commissions of $91.6 million and offering costs of $7.5 million. Immediately prior to the completion of the IPO, the Company filed its Amended and Restated Certificate of Incorporation authorizing a total of 1,500,000,000 shares of Class A common stock which entitles holders to one vote per share, 600,000,000 shares of Class B common stock which entitles holders to 10 votes per share, and 100,000,000 shares of undesignated preferred stock. All shares of common stock then outstanding were reclassified as Class B common stock and all redeemable convertible preferred stock then outstanding were converted into 351,844,340 shares of common stock on a one-for-one basis and reclassified into Class B common stock. In addition, 2,569,528 shares of common stock warrants were converted to an equivalent number of shares of Class B common stock warrants and 203,610 shares of convertible preferred stock warrants were converted to an equivalent number of shares of Class B common stock warrants. Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America, or GAAP, and the applicable rules and regulations of the Securities and Exchange Commission, or the SEC, for interim reporting. Certain information and note disclosures included in our annual financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. The condensed consolidated balance sheet as of December 31, 2021 has been derived from our audited consolidated financial statements, which are included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021, which was filed with the SEC on March 11, 2022. The accompanying condensed consolidated financial statements should be read in conjunction with our consolidated financial statements and notes thereto included in the Annual Report on Form 10-K. The accompanying unaudited condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. In the opinion of management, the accompanying condensed consolidated financial statements reflect all adjustments of a normal, recurring nature considered necessary for a fair presentation of the Company's consolidated financial position, results of operations, comprehensive loss, and cash flows for the interim periods presented. The interim results for the three and six months ended June 30, 2022 are not necessarily indicative of the results that may be expected for the year ending December 31, 2022, or for any other future annual or interim period. Use of Estimates The preparation of the financial statements requires management to make estimates and assumptions relating to reported amounts of assets and liabilities, disclosure of contingent liabilities, and reported amounts of revenue and expenses. Significant estimates and assumptions relate to the fair value of equity awards and warrants, share-based compensation, the estimation of variable consideration in contracts with Customers, the reserve for contract contingencies and processing errors, the fair value of equity method investments, and the collectability of accounts receivable. Actual results could differ materially from these estimates. Business Risks and Uncertainties The Company has incurred net losses since its inception. For the three and six months ended June 30, 2022, the Company incurred net losses of $44.7 million and $105.3 million, respectively, and had an accumulated deficit of $522.7 million as of June 30, 2022. The Company expects to incur net losses from operations for the foreseeable future as it incurs costs and expenses related to creating new products for Customers, acquiring new Customers, developing its brand, expanding into new geographies and developing the existing Platform infrastructure. The Company believes that its cash and cash equivalents of $1.2 billion and marketable securities of $444.9 million as of June 30, 2022 are sufficient to fund its operations through at least the next twelve months from the issuance of these financial statements. In March 2020, the World Health Organization declared the outbreak of a novel coronavirus (COVID-19) as a pandemic. Since then, the COVID-19 pandemic has continued to spread throughout the United States and the world. The Company continues to monitor the situation and may take actions that alter its operations and business practices as may be required by federal, state, or local authorities or that the Company determines are in the best interests of its Customers, vendors, and employees. The economic effect of the pandemic combined with increased geopolitical uncertainty, rising inflation, and other public health emergencies might have an impact on the Company’s future reporting periods. The effects are difficult to predict and could result in material financial impact on the Company’s financial results.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies The Company’s significant accounting policies are discussed in “Consolidated Financial Statements—Note 2. Summary of Significant Accounting Policies” in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021. There have been no significant changes to these policies during the three and six months ended June 30, 2022. Segment Information The Company operates as a single operating segment. The Company's chief operating decision maker is its Chief Executive Officer, who reviews financial information presented on a consolidated basis for purposes of making operating decisions, assessing financial performance, allocating resources, and evaluating the Company's financial performance. For the three and six months ended June 30, 2022 and 2021, revenue outside of the United States, based on the billing address of the Customer, was not material. As of June 30, 2022 and December 31, 2021, long-lived assets located outside of the United States were not material. Restricted Cash Restricted cash consists of deposits with financial institutions that issue payment cards (credit, debit, or prepaid) either on their own behalf or on behalf of businesses that issue customized card products to their end users, or Issuing Banks, to provide the Issuing Bank collateral in the event that Customers’ funds are not deposited at the Issuing Banks in time to settle Customers’ transactions with the networks that provide the infrastructure for settlement and card payment information flows, or Card Networks. Restricted cash also includes cash used to secure a letter of credit for the Company’s lease of its office headquarters in Oakland, California. New Accounting Standards Not Yet Adopted As an emerging growth company, the Jumpstart Our Business Startups Act, or the JOBS Act, allows the Company to delay adoption of new or revised accounting pronouncements applicable to public companies until such pronouncements are made applicable to private companies. The Company has elected to use this extended transition period under the JOBS Act. The adoption date discussed below reflects this election. The Company will no longer qualify as an emerging growth company as of December 31, 2022. In June 2016, the FASB issued Accounting Standards Update (ASU) No. 2016-13, Financial instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments . ASU 2016-13 replaces the incurred loss model with the current expected credit loss, or CECL, model to estimate credit losses for financial assets measured at amortized cost and certain off-balance sheet credit exposures. It also eliminates the concept of other-than-temporary impairment and requires credit losses related to available-for-sale debt securities to be recorded through an allowance for credit losses rather than as a reduction in the amortized cost basis of the securities. The CECL model requires a company to estimate credit losses expected over the life of the financial assets based on historical experience, current conditions, and reasonable and supportable forecasts. The guidance will be effective for the Company beginning December 31, 2022. The amendment requires a modified retrospective approach by recording a cumulative-effect adjustment to retained earnings as of the beginning of the period of adoption. Early adoption is permitted. Based on its preliminary assessment, the Company does not expect the impact of this ASU to be material on its condensed consolidated financial statements.

Revenue

Revenue	6 Months Ended
	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Revenue	Revenue Disaggregation of Revenue The following table provides information about disaggregated revenue from Customers: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Platform services revenue, net $ 181,102 $ 118,524 $ 342,100 $ 224,978 Other services revenue 5,576 3,742 10,680 5,271 Total net revenue $ 186,678 $ 122,266 $ 352,780 $ 230,249 Contract Balances The following table provides information about contract assets and deferred revenue: Contract balance Balance sheet line reference June 30, December 31, Contract assets - current Prepaid expenses and other current assets $ 469 $ 950 Contract assets - non-current Other assets 977 927 Total contract assets $ 1,446 $ 1,877 Deferred revenue - current Accrued expenses and other current liabilities $ 16,559 $ 19,060 Deferred revenue - non-current Other liabilities 3,082 6,107 Total deferred revenue $ 19,641 $ 25,167 Net revenue recognized during the three months ended June 30, 2022 and 2021 that was included in the deferred revenue balances at the beginning of the respective periods was $3.4 million and $2.4 million, respectively. Net revenue recognized during the six months ended June 30, 2022 and 2021 that was included in the deferred revenue balances at the beginning of the respective periods was $8.4 million and $1.6 million, respectively. Remaining Performance Obligations The Company has performance obligations associated with commitments in Customer contracts for future stand-ready obligations to process transactions throughout the contractual term. As of June 30, 2022 and December 31, 2021, $2.8 million and $4.2 million of the deferred revenue balance represents a material right for discounted revenue share rates provided to a Customer as part of a contractual renewal option, respectively.

Marketable Securities

Marketable Securities	6 Months Ended
	Jun. 30, 2022
Investments [Abstract]
Marketable Securities	Marketable Securities The amortized cost, unrealized gain (loss), and estimated fair value of the Company's investments in securities available for sale consisted of the following: June 30, 2022 Amortized Cost Unrealized Gain Unrealized Loss Estimated Fair Value Marketable securities U.S. government securities $ 420,162 $ — $ (9,713) $ 410,449 Commercial paper 18,972 — — 18,972 Corporate debt securities 15,631 — (179) 15,452 Total marketable securities $ 454,765 $ — $ (9,892) $ 444,873 December 31, 2021 Amortized Cost Unrealized Gain Unrealized Loss Estimated Fair Value Marketable securities U.S. government securities $ 420,392 $ — $ (2,107) $ 418,285 Commercial paper 13,878 — — 13,878 Asset-backed securities 2,003 — (1) 2,002 Corporate debt securities 18,731 3 (24) 18,710 Total marketable securities $ 455,004 $ 3 $ (2,132) $ 452,875 The Company had eighteen and eight separate marketable securities in unrealized loss positions as of June 30, 2022 and December 31, 2021, respectively. The Company did not identify any marketable securities that were other-than-temporarily impaired as of June 30, 2022 and December 31, 2021. The Company does not intend to sell any marketable securities that have unrealized losses on June 30, 2022 and it is not more likely than not that the Company will be required to sell such securities before any anticipated recovery. The following table summarizes the stated maturities of the Company’s marketable securities: June 30, 2022 December 31, 2021 Amortized Cost Estimated Fair Value Amortized Cost Estimated Fair Value Due within one year $ 342,294 $ 335,772 $ 64,914 $ 64,879 Due after one year through two years 112,471 109,101 390,090 387,996 Total $ 454,765 $ 444,873 $ 455,004 $ 452,875

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The Company’s financial instruments consist of cash equivalents, marketable securities, accounts receivable, unbilled Customers' receivable, settlements receivable, accounts payable, and accrued liabilities. Cash equivalents are stated at amortized cost, which approximates fair value at the balance sheet dates, due to the short period of time to maturity. Marketable securities are carried at fair value. Accounts receivable, unbilled Customers' receivable, settlements receivable, accounts payable, and accrued liabilities are stated at their carrying value, which approximates fair value due to the short time to the expected receipt or payment date. The following tables present the fair value hierarchy for assets and liabilities measured at fair value: June 30, 2022 Level 1 Level 2 Level 3 Total Fair Value Cash equivalents Money market funds $ 468,318 $ — $ — $ 468,318 Marketable securities U.S. government securities 410,449 — — 410,449 Commercial paper — 18,972 — 18,972 Corporate debt securities — 15,452 — 15,452 Total assets $ 878,767 $ 34,424 $ — $ 913,191 December 31, 2021 Level 1 Level 2 Level 3 Total Fair Value Cash equivalents Money market funds $ 1,213,543 $ — $ — $ 1,213,543 Marketable securities U.S. government securities 418,284 — — 418,284 Commercial paper — 13,878 — 13,878 Asset-backed securities — 2,002 — 2,002 Corporate debt securities — 18,711 — 18,711 Total assets $ 1,631,827 $ 34,591 $ — $ 1,666,418 The Company classifies money market funds, commercial paper, U.S. government securities, asset-backed securities and corporate securities within Level 1 or Level 2 of the fair value hierarchy because the Company values these investments using quoted market prices or alternative pricing sources and models utilizing market observable inputs. There were no transfers of financial instruments between the fair value hierarchy levels during the three and six months ended June 30, 2022 and the year ended December 31, 2021.

Certain Balance Sheet Component

Certain Balance Sheet Components	6 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Certain Balance Sheet Components	Certain Balance Sheet Components Prepaid Expenses and Other Current Assets Prepaid expenses and other current assets consisted of the following: June 30, December 31, Prepaid hosting and data costs $ 16,482 $ 2,455 Other prepaid expenses 8,370 6,492 Inventory 5,319 3,940 Prepaid insurance 339 3,546 Card program deposits 2,128 2,167 Contract assets 469 950 Other financial instruments — 11,616 Other current assets 5,535 4,451 Prepaid expenses and other current assets $ 38,642 $ 35,617 In 2021, the Company acquired a preferred equity interest in a private company that is accounted for under the equity method of accounting. Concurrent with this investment, the Company also acquired an option that gives the Company the right, but not the obligation, to purchase all of the remaining equity interests of the private company. During the six months ended June 30, 2022, the Company recorded an impairment of $11.6 million related to this option. Property and Equipment, net Property and equipment consisted of the following: June 30, December 31, Leasehold improvements $ 8,110 $ 8,110 Computer equipment 8,721 8,581 Furniture and fixtures 2,560 2,459 Internally developed and purchased software 3,082 2,954 22,473 22,104 Accumulated depreciation and amortization (13,830) (12,417) Property and equipment, net $ 8,643 $ 9,687 Depreciation and amortization expense was $0.9 million and $0.9 million for the three months ended June 30, 2022 and 2021, and $1.9 million and $1.8 million for the six months ended June 30, 2022 and 2021, respectively. The Company did not capitalize any material internal-use software costs during the three and six months ended June 30, 2022 because development costs meeting capitalization criteria were not material during the respective periods. The Company capitalized $1.4 million as internal-use software costs during the three and six months ended June 30, 2021. Accrued Expenses and Other Current Liabilities Accrued expenses and other current liabilities consisted of the following: June 30, December 31, Accrued costs of revenue $ 47,925 $ 41,339 Accrued compensation and benefits 25,377 32,954 Deferred revenue 16,559 19,060 Reserve for contract contingencies and processing errors 3,753 3,386 Operating lease liabilities, current portion 3,198 3,021 Accrued professional services 4,494 2,454 Other accrued liabilities 9,211 11,882 Accrued expenses and other current liabilities $ 110,517 $ 114,096 Other Liabilities Other liabilities consisted of the following: June 30, December 31, Deferred revenue, net of current portion $ 3,082 $ 6,107 Other long-term liabilities — 450 Other liabilities $ 3,082 $ 6,557

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Operating Leases The Company has a lease agreement for its corporate headquarters in Oakland, California for a total of 63,000 square feet. The non-cancellable operating lease expires in February 2026 and includes options to extend the lease term, generally at the then-market rates. The Company excludes extension options that are not reasonably certain to be exercised from its lease terms. The Company’s lease payments consist primarily of fixed rental payments for the right to use the underlying leased assets over the lease terms. The Company is responsible for operating expenses that exceed the amount of base operating expenses as defined in the original lease agreement. The Company's operating lease costs are as follows: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Operating lease cost $ 843 $ 869 $ 1,686 $ 1,738 Variable lease cost 261 (42) 418 70 Short-term lease cost 219 59 331 131 Total lease cost $ 1,323 $ 886 $ 2,435 $ 1,939 The Company does not have any sublease income and the Company’s lease agreements do not contain any residual value guarantees or material restrictive covenants. The weighted average remaining operating lease term and the weighted average discount rate used in the calculation of the Company's lease assets and lease liabilities were as follows: June 30, December 31, Weighted average remaining operating lease term (in years) 3.6 4.1 Weighted average discount rate 7.7% 7.7% Maturities of operating lease liabilities by year are as follows as of June 30, 2022: Remainder of 2022 $ 2,073 2023 4,239 2024 4,472 2025 4,599 2026 780 Total lease payments 16,163 Less imputed interest (2,179) Total operating lease liabilities $ 13,984 Supplemental cash flow information related to the Company's operating leases was as follows: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Cash paid for operating lease liabilities $ 1,023 $ 1,032 $ 2,039 $ 2,065 Letters of Credit In connection with the lease for its corporate headquarters office space, the Company is required to provide the landlord a letter of credit in the amount of $1.5 million. The Company has secured this letter of credit by depositing $1.5 million with the issuing financial institution, which deposit is classified as restricted cash in the condensed consolidated balance sheets. Purchase Obligations As of June 30, 2022, the Company had non-cancellable purchase commitments with certain service providers and Issuing Banks of $224.7 million, payable over the next 5 years. These purchase obligations include $219.0 million related to minimum commitments as part of a cloud-computing service agreement. The remaining obligations are related to various service providers and Issuing Banks processing fees over the fixed, non-cancellable respective contract terms. Defined Contribution Plans The Company maintains defined contribution plans for eligible employees, including a 401(k) plan that covers substantially all of its U.S. based employees and to which the Company provides a matching contribution of 50% of the first 6% of eligible compensation that an employee contributes. During the three months ended June 30, 2022 and 2021, the Company contributed a total of $1.3 million and $0.7 million to its defined contribution plans, respectively. During the six months ended June 30, 2022 and 2021, the Company contributed a total of $3.4 million and $1.5 million to its defined contribution plans, respectively. Legal Contingencies From time to time in the normal course of business, the Company may be subject to various legal matters such as threatened or pending claims or proceedings. As of June 30, 2022 and December 31, 2021, there were no legal contingency matters, either individually or in aggregate, that would have a material adverse effect on the Company’s financial position, results of operations, or cash flows. Given the unpredictable nature of legal proceedings, the Company bases its assessment on the information available at the time. As additional information becomes available, the Company reassesses the potential liability and may revise the estimate. Settlement of Payment Transactions Customers deposit a certain amount of pre-funding into accounts maintained at Issuing Banks to settle their payment transactions. Such pre-funding amounts may only be used to settle Customers’ payment transactions and are not considered assets of the Company. As such, the funds held in Customers’ accounts at Issuing Banks are not reflected on the Company’s condensed consolidated balance sheets. If a Customer fails to deposit sufficient funds to settle a transaction, the Company is liable to the Issuing Bank to settle the transaction and would therefore incur losses if such amounts cannot be subsequently recovered from the Customer. Indemnifications In the ordinary course of business, the Company enters into agreements of varying scope and terms pursuant to which it agrees to indemnify customers, vendors, lessors, business partners, and other parties with respect to certain matters, including, but not limited to, losses arising out of the breach of such agreements, services to be provided by the Company or from intellectual property infringement claims made by third parties. With respect to Issuing Banks, the Company indemnifies the Issuing Bank for losses the Issuing Bank may incur for non-compliance with applicable law and regulation, if those losses resulted from the Company’s failure to perform under its program agreement with the Issuing Bank. In addition, the Company has entered into indemnification agreements with its directors and certain officers and employees that will require the Company, among other things, to indemnify them against certain liabilities that may arise by reason of their status or service as directors, officers or employees. No demands have been made upon the Company to provide indemnification under such agreements and there are no claims that the Company is aware of that could have a material effect on its condensed consolidated balance sheets, condensed consolidated statements of operations and comprehensive loss, or condensed consolidated statements of cash flows. The Company also includes service level commitments to its Customers warranting certain levels of performance and permitting those Customers to receive credits in the event the Company fails to meet the levels specified.
Commitments and Contingencies	Commitments and Contingencies Operating Leases The Company has a lease agreement for its corporate headquarters in Oakland, California for a total of 63,000 square feet. The non-cancellable operating lease expires in February 2026 and includes options to extend the lease term, generally at the then-market rates. The Company excludes extension options that are not reasonably certain to be exercised from its lease terms. The Company’s lease payments consist primarily of fixed rental payments for the right to use the underlying leased assets over the lease terms. The Company is responsible for operating expenses that exceed the amount of base operating expenses as defined in the original lease agreement. The Company's operating lease costs are as follows: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Operating lease cost $ 843 $ 869 $ 1,686 $ 1,738 Variable lease cost 261 (42) 418 70 Short-term lease cost 219 59 331 131 Total lease cost $ 1,323 $ 886 $ 2,435 $ 1,939 The Company does not have any sublease income and the Company’s lease agreements do not contain any residual value guarantees or material restrictive covenants. The weighted average remaining operating lease term and the weighted average discount rate used in the calculation of the Company's lease assets and lease liabilities were as follows: June 30, December 31, Weighted average remaining operating lease term (in years) 3.6 4.1 Weighted average discount rate 7.7% 7.7% Maturities of operating lease liabilities by year are as follows as of June 30, 2022: Remainder of 2022 $ 2,073 2023 4,239 2024 4,472 2025 4,599 2026 780 Total lease payments 16,163 Less imputed interest (2,179) Total operating lease liabilities $ 13,984 Supplemental cash flow information related to the Company's operating leases was as follows: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Cash paid for operating lease liabilities $ 1,023 $ 1,032 $ 2,039 $ 2,065 Letters of Credit In connection with the lease for its corporate headquarters office space, the Company is required to provide the landlord a letter of credit in the amount of $1.5 million. The Company has secured this letter of credit by depositing $1.5 million with the issuing financial institution, which deposit is classified as restricted cash in the condensed consolidated balance sheets. Purchase Obligations As of June 30, 2022, the Company had non-cancellable purchase commitments with certain service providers and Issuing Banks of $224.7 million, payable over the next 5 years. These purchase obligations include $219.0 million related to minimum commitments as part of a cloud-computing service agreement. The remaining obligations are related to various service providers and Issuing Banks processing fees over the fixed, non-cancellable respective contract terms. Defined Contribution Plans The Company maintains defined contribution plans for eligible employees, including a 401(k) plan that covers substantially all of its U.S. based employees and to which the Company provides a matching contribution of 50% of the first 6% of eligible compensation that an employee contributes. During the three months ended June 30, 2022 and 2021, the Company contributed a total of $1.3 million and $0.7 million to its defined contribution plans, respectively. During the six months ended June 30, 2022 and 2021, the Company contributed a total of $3.4 million and $1.5 million to its defined contribution plans, respectively. Legal Contingencies From time to time in the normal course of business, the Company may be subject to various legal matters such as threatened or pending claims or proceedings. As of June 30, 2022 and December 31, 2021, there were no legal contingency matters, either individually or in aggregate, that would have a material adverse effect on the Company’s financial position, results of operations, or cash flows. Given the unpredictable nature of legal proceedings, the Company bases its assessment on the information available at the time. As additional information becomes available, the Company reassesses the potential liability and may revise the estimate. Settlement of Payment Transactions Customers deposit a certain amount of pre-funding into accounts maintained at Issuing Banks to settle their payment transactions. Such pre-funding amounts may only be used to settle Customers’ payment transactions and are not considered assets of the Company. As such, the funds held in Customers’ accounts at Issuing Banks are not reflected on the Company’s condensed consolidated balance sheets. If a Customer fails to deposit sufficient funds to settle a transaction, the Company is liable to the Issuing Bank to settle the transaction and would therefore incur losses if such amounts cannot be subsequently recovered from the Customer. Indemnifications In the ordinary course of business, the Company enters into agreements of varying scope and terms pursuant to which it agrees to indemnify customers, vendors, lessors, business partners, and other parties with respect to certain matters, including, but not limited to, losses arising out of the breach of such agreements, services to be provided by the Company or from intellectual property infringement claims made by third parties. With respect to Issuing Banks, the Company indemnifies the Issuing Bank for losses the Issuing Bank may incur for non-compliance with applicable law and regulation, if those losses resulted from the Company’s failure to perform under its program agreement with the Issuing Bank. In addition, the Company has entered into indemnification agreements with its directors and certain officers and employees that will require the Company, among other things, to indemnify them against certain liabilities that may arise by reason of their status or service as directors, officers or employees. No demands have been made upon the Company to provide indemnification under such agreements and there are no claims that the Company is aware of that could have a material effect on its condensed consolidated balance sheets, condensed consolidated statements of operations and comprehensive loss, or condensed consolidated statements of cash flows. The Company also includes service level commitments to its Customers warranting certain levels of performance and permitting those Customers to receive credits in the event the Company fails to meet the levels specified.

Stock Incentive Plans

Stock Incentive Plans	6 Months Ended
	Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]
Stock Incentive Plans	Stock Incentive Plans The Company has granted share-based awards to employees, non-employee directors, and other service providers of the Company under the Amended and Restated 2011 Equity Incentive Plan (2011 Plan) and the 2021 Stock Option and Incentive Plan (2021 Plan), collectively, the Plans. The 2011 Plan was terminated in June 2021 in connection with the IPO but continues to govern the terms of outstanding awards that were granted prior to the IPO. Additionally, the Company offers an employee stock purchase plan (ESPP), which allows employees to purchase shares of common stock at 85% of the fair value of the Company’s Class A common stock on the first or last day of the offering period, whichever is lower. The offering periods are six months long and start in May and November of each year. The following table presents the share-based compensation expense recognized in the periods presented: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Restricted stock units $ 15,078 $ 30,068 $ 30,423 $ 30,068 Stock options 6,160 8,272 13,818 13,777 CEO Long-Term Performance Award 13,267 11,363 26,388 11,363 Employee Stock Purchase Plan 643 78 1,524 78 Secondary sales of common stock — 5,755 — 11,642 Total $ 35,148 $ 55,536 $ 72,153 $ 66,928 Restricted Stock Units Commencing in 2020, the Company began granting restricted stock units, or RSUs, to employees. RSUs granted prior to April 1, 2021 vest upon the satisfaction of both a service condition and a liquidity condition which was deemed satisfied in connection with the Company’s IPO. The service condition for these awards is satisfied over four years. On June 8, 2021, the Company completed its IPO and the liquidity condition for these awards was satisfied and the Company recognized $23.1 million of share-based compensation expense associated with RSUs that had service-vested as of the IPO completion date. RSUs granted on or after April 1, 2021, vest upon the satisfaction of a service condition. The service condition for these awards is satisfied over four years. A summary of the Company's RSU activity under the Plans was as follows: Number of Restricted Stock Units Weighted-average grant date fair value per share Balance as of December 31, 2021 9,001,949 $ 18.30 Granted 17,387,744 10.48 Vested (2,029,261) 14.77 Canceled and forfeited (3,889,475) 14.88 Balance as of June 30, 2022 20,470,957 $ 11.11 As of June 30, 2022, unrecognized compensation costs related to unvested RSUs was $229.9 million. These costs are expected to be recognized over a period of 3.3 years. Stock Options Under the 2011 Plan and the 2021 Plan, the exercise price of a stock option shall not be less than the fair market value per share of the Company’s common stock on the date of grant (and not less than 110% of the fair market value per share of common stock for grants to stockholders owning more than 10% of the total combined voting power of all classes of stock of the Company, or a 10% Stockholder). Options are exercisable over periods not to exceed ten years from the date of grant (five years for incentive stock options granted to 10% Stockholders). A summary of the Company's stock option activity under both stock incentive plans was as follows: Number of Options Weighted-Average Exercise Price per Share Weighted-Average Remaining Contractual Life Aggregate Intrinsic Value (1) Balance as of December 31, 2021 (2) 44,185,488 $ 13.31 8.46 years $ 279,242 Granted 3,013,518 10.39 Exercised (2,918,489) 1.19 Canceled and forfeited (2,755,876) 6.27 Balance as of June 30, 2022 (2) 41,524,641 $ 14.41 7.87 years $ 79,475 Vested as of June 30, 2022 10,381,579 $ 4.12 5.29 years $ 59,976 (1) Intrinsic value is calculated based on the difference between the exercise price of in-the-money-stock options and the fair value of the common stock as of the respective balance sheet dates. (2) The 2011 Plan allows for early exercise of stock options and these balances include all exercisable stock options regardless of vesting status. As of June 30, 2022, aggregate unrecognized compensation costs related to unvested outstanding stock options, excluding the CEO Long-Term Performance Award, was $76.5 million. These costs are expected to be recognized over a period of 2.5 years. The fair value of stock options granted was estimated using the Black-Scholes option pricing model and the following weighted average assumptions: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Dividend yield 0.0% 0.0% 0.0% 0.0% Expected volatility 61.90% 54.72% 59.37% 54.15% Expected term (in years) 6.08 6.84 6.08 6.73 Risk-free interest rate 2.81% 1.32% 2.18% 1.22% Subsequent to the completion of the IPO, the fair value of the Company’s common stock is determined by the closing price, on the date of grant, of its Class A common stock, which is traded on the Nasdaq Global Select Market. CEO Long-Term Performance Award In April and May 2021, the Company’s board of directors granted the Company’s Chief Executive Officer equity incentive awards in the form of performance-based stock options covering 19,740,923 and 47,267 shares of our Class B common stock with an exercise price of $21.49 and $23.40 per share, respectively, or collectively, the CEO Long-Term Performance Award. The CEO Long-Term Performance Award vests upon the satisfaction of a service condition and the achievement of certain stock price hurdles over a seven-year performance period following the expiration of the lock-up period associated with the IPO. The stock price hurdle will be achieved if the average closing price of a share of our Class A common stock during any 90 consecutive trading day period during the performance period equals or exceeds the Company stock price hurdle set forth in the table below. The CEO Long-Term Performance Award is divided into seven equal tranches which vest upon the achievement of the following Company stock price hurdles: Tranche Company Stock Price Hurdle Number of Options Eligible to Vest 1 $67.50 2,826,884 2 $78.98 2,826,884 3 $92.40 2,826,884 4 $108.11 2,826,884 5 $126.49 2,826,884 6 $147.99 2,826,884 7 $173.15 2,826,884 Total 19,788,188 The grant date fair value of the CEO Long-Term Performance Award was estimated using a Monte Carlo simulation model that incorporated multiple stock price paths and probabilities that the Company stock price hurdles are met. The weighted-average grant date fair value of the seven tranches of the CEO Long-Term Performance Award was estimated to be $10.53 per option share. As of June 30, 2022, the aggregate unrecognized compensation cost of the CEO Long-Term Performance Award was $143.8 million, which is expected to be recognized over the remaining derived service period of 3.6 years. Secondary Sales of Common Stock Prior to the completion of the IPO, certain economic interest holders acquired outstanding common stock from current or former employees for a purchase price greater than the Company's estimated fair value at the time of the transactions. During the three and six months ended June 30, 2022, the Company did not record any share-based compensation expense related to secondary sales of common stock. During the three and six months ended June 30, 2021, the Company recorded share-based compensation expense for the difference between the price paid and the estimated fair value on the date of the transaction of $5.8 million and 11.6 million, respectively.

Warrants to Purchase Common Sto

Warrants to Purchase Common Stock	6 Months Ended
	Jun. 30, 2022
Equity [Abstract]
Warrants to Purchase Common Stock	Warrants to Purchase Common Stock In 2021 and 2020, the Company issued warrants to Customers to purchase up to 1,150,000 and 750,000 shares of the Company’s common stock, respectively. These warrants vest based on certain performance conditions that include issuing a specific percentage of new cards on the Company’s Platform over a defined measurement period and reaching certain annual transaction count thresholds over the contract term, respectively. All warrants have an exercise price of $0.01 per share. These warrants are classified as equity instruments and are treated as consideration payable to a Customer. The grant date fair values of these warrants are recorded as a reduction to net revenue over the term of the respective Customer contract based on the expected pattern of processing volume generated by the Customer and the probability of vesting conditions being met. The aggregate fair values of the warrants issued in 2021 and 2020 were $26.4 million and $5.7 million, respectively. As of June 30, 2022 , 483,838 warrants were vested. The Company recorded $1.8 million and $3.4 million as a reduction of revenue during the three and six months ended June 30, 2022, respectively, related to these warrants. The Company recorded an immaterial amount as a reduction of revenue during the three and six months ended June 30, 2021. Upon vesting, the fair values of the vested warrants are recorded into the Company’s additional paid-in capital. Timing differences caused by the pattern of processing volume generated by the Customer over the term of the contract and the vesting schedules of the warrants can cause differences in the amount of grant date fair value that is credited to additional paid in capital upon vesting and the amount recorded as a reduction in net revenue during any particular reporting period.

Net Loss Per Share Attributable

Net Loss Per Share Attributable to Common Stockholders	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Net Loss Per Share Attributable to Common Stockholders	Net Loss Per Share Attributable to Common Stockholders The Company presents basic and diluted net loss per share attributable to common stockholders in conformity with the two-class method required for participating securities. Prior to the completion of the IPO, all series of redeemable convertible preferred stock were considered participating securities. Immediately prior to the completion of the IPO, all shares of redeemable convertible preferred stock then outstanding were converted into shares of Class B common stock. The Company has not allocated net loss attributable to common stockholders to redeemable convertible preferred stock in any period presented because the holders of its redeemable convertible preferred stock were not contractually obligated to share in losses. The Company calculates basic net loss per share attributable to common stockholders by dividing net loss attributable to common stockholders by the weighted-average number of shares of common stock outstanding during the period. Diluted net loss per share attributable to common stockholders gives effect to all potential shares of common stock, including common stock issuable upon conversion of redeemable convertible preferred stock and redeemable convertible preferred stock warrants, stock options, RSUs and common stock warrants to the extent these are dilutive. The Company calculated basic and diluted net loss per share attributable to common stockholders as follows: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Numerator Net loss attributable to Class A and Class B common stockholders $ (44,688) $ (68,554) $ (105,286) $ (81,392) Denominator Weighted-average shares used in computing net loss per share attributable to Class A and Class B common stockholders, basic and diluted 544,704,146 234,669,664 543,524,008 183,784,697 Net loss per share attributable to Class A and Class B common stockholders, basic and diluted $ (0.08) $ (0.29) $ (0.19) $ (0.44) Basic net loss per share is the same as diluted net loss per share because the Company reported a net loss for the three and six months ended June 30, 2022 and 2021. The rights, including the liquidation and dividend rights, of the holders of Class A common stock and Class B common stock are identical, except with respect to voting. As the liquidation and dividend rights are identical for Class A common stock and Class B common stock, the undistributed earnings are allocated on a proportionate basis and the resulting loss per share will, therefore, be the same for both Class A common stock and Class B common stock on an individual or combined basis. The Company considered its proportionate share of the potentially dilutive shares issued by its equity method investee in its dilutive net loss per share calculation. All potentially dilutive shares of its equity method investee were excluded from the computation as they would have an anti-dilutive effect. Potentially dilutive securities that were excluded from the computation of diluted net loss per share because including them would have had an anti-dilutive effect were as follows: As of June 30, 2022 2021 Warrants to purchase Class B common stock 1,900,000 2,103,610 Stock options outstanding, including early exercise of options 41,524,641 48,319,951 Unvested RSUs outstanding 20,470,957 8,423,137 Shares committed under the ESPP 247,589 — Stock options and RSUs available for future grants 75,973,184 60,474,494 Total 140,116,371 119,321,192

Income Tax

Income Tax	6 Months Ended
	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Income Tax	Income TaxThe income tax expense (benefit) and the associated effective tax rates were not significant for all periods presented. The effective tax rate was lower than the U.S. federal statutory rate primarily because of the domestic valuation allowances.

Concentration of Risks and Sign

Concentration of Risks and Significant Customers	6 Months Ended
	Jun. 30, 2022
Risks and Uncertainties [Abstract]
Concentration of Risks and Significant Customers	Concentration Risks and Significant Customers Financial instruments that potentially expose the Company to concentration of credit risk consist of cash and cash equivalents, marketable securities, accounts receivable and unbilled Customers' receivable, or collectively, Customers' receivables, and settlements receivable. Cash on deposit with financial institutions may, at times, exceed federally insured limits. Management believes that these financial institutions are financially sound and, accordingly, minimal credit risk exists. Cash and cash equivalents as of June 30, 2022 and December 31, 2021 include $0.5 billion and $1.2 billion, respectively, of investments in three money market mutual funds, which invest primarily in securities issued by the U.S. Government or U.S. Government agencies. As of June 30, 2022, marketable securities were $444.9 million, and there was no concentration of securities of the same issuer with an aggregate fair value greater than 5% of the total balance, except for U.S. Treasuries, which amounted to $410.4 million, or 92% of the marketable securities. As of June 30, 2022, all debt securities within the Company's portfolio are investment grade. As of December 31, 2021, marketable securities were $452.9 million, and there was no concentration of securities of the same issuer with an aggregate fair value greater than 5% of the total balance, except for U.S. Treasuries, which amounted to $418.3 million, or 92% of the marketable securities. As of December 31, 2021, all debt securities within the Company's portfolio are investment grade. A significant portion of the Company's payment transactions are settled through one Issuing Bank, Sutton Bank. For the three months ended June 30, 2022 and 2021, 83% and 92% of Total Processing Volume, which is the total dollar amount of payments processed through the Company’s Platform, net of returns and chargebacks, was settled through Sutton Bank, respectively. For the six months ended June 30, 2022 and 2021, 84% and 93% of Total Processing Volume, which is the total dollar amount of payments processed through the Company’s Platform, net of returns and chargebacks, was settled through Sutton Bank, respectively. A significant portion of the Company's revenue is derived from one Customer. For the three months ended June 30, 2022 and 2021, this Customer accounted for 69% and 72% of the Company’s net revenue, respectively. For the six months ended June 30, 2022 and 2021, this Customer accounted for 68% and 73% of the Company’s net revenue, respectively.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2022
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions The Company may enter into transactions with related parties. The Company has an equity method investment in a private company, which is a related party. During the three and six months ended June 30, 2022, the Company earned net revenue of $0.7 million and $2.5 million from the private company, respectively, and had $0.5 million in revenue share payable to this private company as of June 30, 2022. Prior to the completion of the IPO, DFS Services LLC, a holder of more than 5% of the Company's outstanding capital stock pre-IPO, was a related party. During the three months ended March 31, 2021, the Company incurred $11.0 million in Card Network fees, net, recorded within costs of revenue, to PULSE Network LLC, an entity affiliated with DFS Services LLC.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America, or GAAP, and the applicable rules and regulations of the Securities and Exchange Commission, or the SEC, for interim reporting. Certain information and note disclosures included in our annual financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. The condensed consolidated balance sheet as of December 31, 2021 has been derived from our audited consolidated financial statements, which are included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021, which was filed with the SEC on March 11, 2022. The accompanying condensed consolidated financial statements should be read in conjunction with our consolidated financial statements and notes thereto included in the Annual Report on Form 10-K. The accompanying unaudited condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. In the opinion of management, the accompanying condensed consolidated financial statements reflect all adjustments of a normal, recurring nature considered necessary for a fair presentation of the Company's consolidated financial position, results of operations, comprehensive loss, and cash flows for the interim periods presented. The interim results for the three and six months ended June 30, 2022 are not necessarily indicative of the results that may be expected for the year ending December 31, 2022, or for any other future annual or interim period.
Use of Estimates	Use of Estimates The preparation of the financial statements requires management to make estimates and assumptions relating to reported amounts of assets and liabilities, disclosure of contingent liabilities, and reported amounts of revenue and expenses. Significant estimates and assumptions relate to the fair value of equity awards and warrants, share-based compensation, the estimation of variable consideration in contracts with Customers, the reserve for contract contingencies and processing errors, the fair value of equity method investments, and the collectability of accounts receivable. Actual results could differ materially from these estimates.
Segment Information	Segment Information The Company operates as a single operating segment. The Company's chief operating decision maker is its Chief Executive Officer, who reviews financial information presented on a consolidated basis for purposes of making operating decisions, assessing financial performance, allocating resources, and evaluating the Company's financial performance.
Restricted Cash	Restricted Cash Restricted cash consists of deposits with financial institutions that issue payment cards (credit, debit, or prepaid) either on their own behalf or on behalf of businesses that issue customized card products to their end users, or Issuing Banks, to provide the Issuing Bank collateral in the event that Customers’ funds are not deposited at the Issuing Banks in time to settle Customers’ transactions with the networks that provide the infrastructure for settlement and card payment information flows, or Card Networks. Restricted cash also includes cash used to secure a letter of credit for the Company’s lease of its office headquarters in Oakland, California.
New Accounting Standards Not Yet Adopted	New Accounting Standards Not Yet Adopted As an emerging growth company, the Jumpstart Our Business Startups Act, or the JOBS Act, allows the Company to delay adoption of new or revised accounting pronouncements applicable to public companies until such pronouncements are made applicable to private companies. The Company has elected to use this extended transition period under the JOBS Act. The adoption date discussed below reflects this election. The Company will no longer qualify as an emerging growth company as of December 31, 2022. In June 2016, the FASB issued Accounting Standards Update (ASU) No. 2016-13, Financial instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments . ASU 2016-13 replaces the incurred loss model with the current expected credit loss, or CECL, model to estimate credit losses for financial assets measured at amortized cost and certain off-balance sheet credit exposures. It also eliminates the concept of other-than-temporary impairment and requires credit losses related to available-for-sale debt securities to be recorded through an allowance for credit losses rather than as a reduction in the amortized cost basis of the securities. The CECL model requires a company to estimate credit losses expected over the life of the financial assets based on historical experience, current conditions, and reasonable and supportable forecasts. The guidance will be effective for the Company beginning December 31, 2022. The amendment requires a modified retrospective approach by recording a cumulative-effect adjustment to retained earnings as of the beginning of the period of adoption. Early adoption is permitted. Based on its preliminary assessment, the Company does not expect the impact of this ASU to be material on its condensed consolidated financial statements.

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	Disaggregation of Revenue The following table provides information about disaggregated revenue from Customers: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Platform services revenue, net $ 181,102 $ 118,524 $ 342,100 $ 224,978 Other services revenue 5,576 3,742 10,680 5,271 Total net revenue $ 186,678 $ 122,266 $ 352,780 $ 230,249
Contract with Customer, Contract Asset, Contract Liability, and Receivable	Contract Balances The following table provides information about contract assets and deferred revenue: Contract balance Balance sheet line reference June 30, December 31, Contract assets - current Prepaid expenses and other current assets $ 469 $ 950 Contract assets - non-current Other assets 977 927 Total contract assets $ 1,446 $ 1,877 Deferred revenue - current Accrued expenses and other current liabilities $ 16,559 $ 19,060 Deferred revenue - non-current Other liabilities 3,082 6,107 Total deferred revenue $ 19,641 $ 25,167

Marketable Securities (Tables)

Marketable Securities (Tables)	6 Months Ended
	Jun. 30, 2022
Investments [Abstract]
Marketable Securities	The amortized cost, unrealized gain (loss), and estimated fair value of the Company's investments in securities available for sale consisted of the following: June 30, 2022 Amortized Cost Unrealized Gain Unrealized Loss Estimated Fair Value Marketable securities U.S. government securities $ 420,162 $ — $ (9,713) $ 410,449 Commercial paper 18,972 — — 18,972 Corporate debt securities 15,631 — (179) 15,452 Total marketable securities $ 454,765 $ — $ (9,892) $ 444,873 December 31, 2021 Amortized Cost Unrealized Gain Unrealized Loss Estimated Fair Value Marketable securities U.S. government securities $ 420,392 $ — $ (2,107) $ 418,285 Commercial paper 13,878 — — 13,878 Asset-backed securities 2,003 — (1) 2,002 Corporate debt securities 18,731 3 (24) 18,710 Total marketable securities $ 455,004 $ 3 $ (2,132) $ 452,875
Schedule of Available-for-sale Securities Reconciliation	The following table summarizes the stated maturities of the Company’s marketable securities: June 30, 2022 December 31, 2021 Amortized Cost Estimated Fair Value Amortized Cost Estimated Fair Value Due within one year $ 342,294 $ 335,772 $ 64,914 $ 64,879 Due after one year through two years 112,471 109,101 390,090 387,996 Total $ 454,765 $ 444,873 $ 455,004 $ 452,875

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities at Fair Value	The following tables present the fair value hierarchy for assets and liabilities measured at fair value: June 30, 2022 Level 1 Level 2 Level 3 Total Fair Value Cash equivalents Money market funds $ 468,318 $ — $ — $ 468,318 Marketable securities U.S. government securities 410,449 — — 410,449 Commercial paper — 18,972 — 18,972 Corporate debt securities — 15,452 — 15,452 Total assets $ 878,767 $ 34,424 $ — $ 913,191 December 31, 2021 Level 1 Level 2 Level 3 Total Fair Value Cash equivalents Money market funds $ 1,213,543 $ — $ — $ 1,213,543 Marketable securities U.S. government securities 418,284 — — 418,284 Commercial paper — 13,878 — 13,878 Asset-backed securities — 2,002 — 2,002 Corporate debt securities — 18,711 — 18,711 Total assets $ 1,631,827 $ 34,591 $ — $ 1,666,418

Certain Balance Sheet Compone_2

Certain Balance Sheet Components (Tables)	6 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Prepaid Expenses and Other Current Assets	Prepaid Expenses and Other Current Assets Prepaid expenses and other current assets consisted of the following: June 30, December 31, Prepaid hosting and data costs $ 16,482 $ 2,455 Other prepaid expenses 8,370 6,492 Inventory 5,319 3,940 Prepaid insurance 339 3,546 Card program deposits 2,128 2,167 Contract assets 469 950 Other financial instruments — 11,616 Other current assets 5,535 4,451 Prepaid expenses and other current assets $ 38,642 $ 35,617
Property and Equipment, net	Property and Equipment, net Property and equipment consisted of the following: June 30, December 31, Leasehold improvements $ 8,110 $ 8,110 Computer equipment 8,721 8,581 Furniture and fixtures 2,560 2,459 Internally developed and purchased software 3,082 2,954 22,473 22,104 Accumulated depreciation and amortization (13,830) (12,417) Property and equipment, net $ 8,643 $ 9,687
Accrued Expenses and Other Current Liabilities	Accrued Expenses and Other Current Liabilities Accrued expenses and other current liabilities consisted of the following: June 30, December 31, Accrued costs of revenue $ 47,925 $ 41,339 Accrued compensation and benefits 25,377 32,954 Deferred revenue 16,559 19,060 Reserve for contract contingencies and processing errors 3,753 3,386 Operating lease liabilities, current portion 3,198 3,021 Accrued professional services 4,494 2,454 Other accrued liabilities 9,211 11,882 Accrued expenses and other current liabilities $ 110,517 $ 114,096
Other Liabilities	Other Liabilities Other liabilities consisted of the following: June 30, December 31, Deferred revenue, net of current portion $ 3,082 $ 6,107 Other long-term liabilities — 450 Other liabilities $ 3,082 $ 6,557

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Components lease costs	The Company's operating lease costs are as follows: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Operating lease cost $ 843 $ 869 $ 1,686 $ 1,738 Variable lease cost 261 (42) 418 70 Short-term lease cost 219 59 331 131 Total lease cost $ 1,323 $ 886 $ 2,435 $ 1,939 The weighted average remaining operating lease term and the weighted average discount rate used in the calculation of the Company's lease assets and lease liabilities were as follows: June 30, December 31, Weighted average remaining operating lease term (in years) 3.6 4.1 Weighted average discount rate 7.7% 7.7% Supplemental cash flow information related to the Company's operating leases was as follows: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Cash paid for operating lease liabilities $ 1,023 $ 1,032 $ 2,039 $ 2,065
Future minimum lease payments	Maturities of operating lease liabilities by year are as follows as of June 30, 2022: Remainder of 2022 $ 2,073 2023 4,239 2024 4,472 2025 4,599 2026 780 Total lease payments 16,163 Less imputed interest (2,179) Total operating lease liabilities $ 13,984

Stock Incentive Plans (Tables)

Stock Incentive Plans (Tables)	6 Months Ended
	Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]
Schedule of Share-based Compensation Expense Recognized in the Period	The following table presents the share-based compensation expense recognized in the periods presented: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Restricted stock units $ 15,078 $ 30,068 $ 30,423 $ 30,068 Stock options 6,160 8,272 13,818 13,777 CEO Long-Term Performance Award 13,267 11,363 26,388 11,363 Employee Stock Purchase Plan 643 78 1,524 78 Secondary sales of common stock — 5,755 — 11,642 Total $ 35,148 $ 55,536 $ 72,153 $ 66,928
Summary of RSU Activity Under the Plans	A summary of the Company's RSU activity under the Plans was as follows: Number of Restricted Stock Units Weighted-average grant date fair value per share Balance as of December 31, 2021 9,001,949 $ 18.30 Granted 17,387,744 10.48 Vested (2,029,261) 14.77 Canceled and forfeited (3,889,475) 14.88 Balance as of June 30, 2022 20,470,957 $ 11.11 A summary of the Company's stock option activity under both stock incentive plans was as follows: Number of Options Weighted-Average Exercise Price per Share Weighted-Average Remaining Contractual Life Aggregate Intrinsic Value (1) Balance as of December 31, 2021 (2) 44,185,488 $ 13.31 8.46 years $ 279,242 Granted 3,013,518 10.39 Exercised (2,918,489) 1.19 Canceled and forfeited (2,755,876) 6.27 Balance as of June 30, 2022 (2) 41,524,641 $ 14.41 7.87 years $ 79,475 Vested as of June 30, 2022 10,381,579 $ 4.12 5.29 years $ 59,976 (1) Intrinsic value is calculated based on the difference between the exercise price of in-the-money-stock options and the fair value of the common stock as of the respective balance sheet dates. (2) The 2011 Plan allows for early exercise of stock options and these balances include all exercisable stock options regardless of vesting status. The CEO Long-Term Performance Award is divided into seven equal tranches which vest upon the achievement of the following Company stock price hurdles: Tranche Company Stock Price Hurdle Number of Options Eligible to Vest 1 $67.50 2,826,884 2 $78.98 2,826,884 3 $92.40 2,826,884 4 $108.11 2,826,884 5 $126.49 2,826,884 6 $147.99 2,826,884 7 $173.15 2,826,884 Total 19,788,188
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions	The fair value of stock options granted was estimated using the Black-Scholes option pricing model and the following weighted average assumptions: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Dividend yield 0.0% 0.0% 0.0% 0.0% Expected volatility 61.90% 54.72% 59.37% 54.15% Expected term (in years) 6.08 6.84 6.08 6.73 Risk-free interest rate 2.81% 1.32% 2.18% 1.22%

Net Loss Per Share Attributab_2

Net Loss Per Share Attributable to Common Stockholders (Tables)	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The Company calculated basic and diluted net loss per share attributable to common stockholders as follows: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Numerator Net loss attributable to Class A and Class B common stockholders $ (44,688) $ (68,554) $ (105,286) $ (81,392) Denominator Weighted-average shares used in computing net loss per share attributable to Class A and Class B common stockholders, basic and diluted 544,704,146 234,669,664 543,524,008 183,784,697 Net loss per share attributable to Class A and Class B common stockholders, basic and diluted $ (0.08) $ (0.29) $ (0.19) $ (0.44)
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	Potentially dilutive securities that were excluded from the computation of diluted net loss per share because including them would have had an anti-dilutive effect were as follows: As of June 30, 2022 2021 Warrants to purchase Class B common stock 1,900,000 2,103,610 Stock options outstanding, including early exercise of options 41,524,641 48,319,951 Unvested RSUs outstanding 20,470,957 8,423,137 Shares committed under the ESPP 247,589 — Stock options and RSUs available for future grants 75,973,184 60,474,494 Total 140,116,371 119,321,192

Business Overview and Basis o_2

Business Overview and Basis of Presentation (Details) $ / shares in Units, $ in Thousands		1 Months Ended	3 Months Ended				6 Months Ended
	May 31, 2021 vote shares	Jun. 30, 2021 USD ($) $ / shares shares	Jun. 30, 2022 USD ($) shares	Mar. 31, 2022 USD ($)	Jun. 30, 2021 USD ($) $ / shares shares	Mar. 31, 2021 USD ($)	Jun. 30, 2022 USD ($) shares	Jun. 30, 2021 USD ($) $ / shares shares	Dec. 31, 2021 USD ($) shares
Initial Public Offering
Proceeds from initial public offering, net of underwriters’ discounts and commissions							$ 0	$ 1,319,809
Payments of stock issuance costs							$ 0	1,981
Preferred stock, shares authorized (in shares) | shares			100,000,000				100,000,000		100,000,000
Net loss			$ (44,688)	$ (60,598)	$ (68,554)	$ (12,838)	$ (105,286)	(81,392)
Accumulated deficit			(522,739)				(522,739)		$ (417,453)
Cash and cash equivalents		$ 1,579,287	1,220,273		$ 1,579,287		1,220,273	$ 1,579,287	$ 1,247,581
Marketable securities			$ 444,900				$ 444,900
Class A Common Stock
Initial Public Offering
Common stock, shares authorized (in shares) | shares	1,500,000,000		1,500,000,000				1,500,000,000		1,500,000,000
Number of vote (votes per share) | vote	1
Class B Common Stock
Initial Public Offering
Common stock, shares authorized (in shares) | shares	600,000,000		600,000,000				600,000,000		600,000,000
Number of vote (votes per share) | vote	10
Convertible preferred stock, shares, number of shares issued upon conversion (in shares) | shares	203,610	351,844,340			351,844,340			351,844,340
Preferred stock, convertible, conversion raio		1			1			1
Number of common stock warrants converted to Class B common stock warrants (in shares) | shares	2,569,528
Preferred Stock
Initial Public Offering
Preferred stock, shares authorized (in shares) | shares	100,000,000
IPO | Class A Common Stock
Initial Public Offering
Sale of stock, number of shares issued in transaction (in shares) | shares		52,272,727
Share price (in dollars per share) | $ / shares		$ 27			$ 27			$ 27
Proceeds from initial public offering, net of underwriters’ discounts and commissions		$ 1,300,000
Payments for commissions and discounts		91,600
Payments of stock issuance costs		$ 7,500
Over-Allotment Option | Class A Common Stock
Initial Public Offering
Sale of stock, number of shares issued in transaction (in shares) | shares		6,818,181

Revenue - Disaggregation of Rev

Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Disaggregation of Revenue [Line Items]
Net revenue	$ 186,678	$ 122,266	$ 352,780	$ 230,249
Platform services revenue, net
Disaggregation of Revenue [Line Items]
Net revenue	181,102	118,524	342,100	224,978
Other services revenue
Disaggregation of Revenue [Line Items]
Net revenue	$ 5,576	$ 3,742	$ 10,680	$ 5,271

Revenue - Contract Assets and D

Revenue - Contract Assets and Deferred Revenue (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Contract assets - current	$ 469	$ 950
Total contract assets	1,446	1,877
Deferred revenue - current	16,559	19,060
Deferred revenue - non-current	3,082	6,107
Total deferred revenue	19,641	25,167
Prepaid expenses and other current assets
Disaggregation of Revenue [Line Items]
Contract assets - current	469	950
Other assets
Disaggregation of Revenue [Line Items]
Contract assets - non-current	977	927
Accrued expenses and other current liabilities
Disaggregation of Revenue [Line Items]
Deferred revenue - current	16,559	19,060
Other liabilities
Disaggregation of Revenue [Line Items]
Deferred revenue - non-current	$ 3,082	$ 6,107

Revenue - Narrative (Details)

Revenue - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Deferred revenue recognized during the period	$ 3.4	$ (2.4)	$ 8.4	$ (1.6)
Remaining performance obligation, optional exemption, amount	$ 2.8		$ 2.8		$ 4.2

Marketable Securities - Unreali

Marketable Securities - Unrealized Gain (Loss) on Investments (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 454,765	$ 455,004
Unrealized Gain	0	3
Unrealized Loss	(9,892)	(2,132)
Marketable securities	444,873	452,875
U.S. government securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	420,162	420,392
Unrealized Gain	0	0
Unrealized Loss	(9,713)	(2,107)
Marketable securities	410,449	418,285
Commercial paper
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	18,972	13,878
Unrealized Gain	0	0
Unrealized Loss	0	0
Marketable securities	18,972	13,878
Asset-backed securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost		2,003
Unrealized Gain		0
Unrealized Loss		(1)
Marketable securities		2,002
Corporate debt securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	15,631	18,731
Unrealized Gain	0	3
Unrealized Loss	(179)	(24)
Marketable securities	$ 15,452	$ 18,710

Marketable Securities - Narrati

Marketable Securities - Narrative (Details) - investment	Jun. 30, 2022	Dec. 31, 2021
Investments [Abstract]
Number of marketable securities in unrealized loss positions	18	8

Marketable Securities - Stated

Marketable Securities - Stated Maturities of Marketable Securities (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Amortized Cost
Due within one year	$ 342,294	$ 64,914
Due after one year through two years	112,471	390,090
Amortized Cost	454,765	455,004
Estimated Fair Value
Due within one year	335,772	64,879
Due after one year through two years	109,101	387,996
Total	$ 444,873	$ 452,875

Fair Value Measurements - Recur

Fair Value Measurements - Recurring Fair Value Measurements (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Assets
Marketable securities	$ 444,873	$ 452,875
Fair Value, Measurements, Recurring
Assets
Total assets	913,191	1,666,418
Fair Value, Measurements, Recurring | Money market funds
Assets
Money market funds	468,318	1,213,543
Fair Value, Measurements, Recurring | U.S. government securities
Assets
Marketable securities	410,449	418,284
Fair Value, Measurements, Recurring | Commercial paper
Assets
Marketable securities	18,972	13,878
Fair Value, Measurements, Recurring | Asset-backed securities
Assets
Marketable securities		2,002
Fair Value, Measurements, Recurring | Corporate debt securities
Assets
Marketable securities	15,452	18,711
Fair Value, Measurements, Recurring | Level 1
Assets
Total assets	878,767	1,631,827
Fair Value, Measurements, Recurring | Level 1 | Money market funds
Assets
Money market funds	468,318	1,213,543
Fair Value, Measurements, Recurring | Level 1 | U.S. government securities
Assets
Marketable securities	410,449	418,284
Fair Value, Measurements, Recurring | Level 1 | Commercial paper
Assets
Marketable securities	0	0
Fair Value, Measurements, Recurring | Level 1 | Asset-backed securities
Assets
Marketable securities		0
Fair Value, Measurements, Recurring | Level 1 | Corporate debt securities
Assets
Marketable securities	0	0
Fair Value, Measurements, Recurring | Level 2
Assets
Total assets	34,424	34,591
Fair Value, Measurements, Recurring | Level 2 | Money market funds
Assets
Money market funds	0	0
Fair Value, Measurements, Recurring | Level 2 | U.S. government securities
Assets
Marketable securities	0	0
Fair Value, Measurements, Recurring | Level 2 | Commercial paper
Assets
Marketable securities	18,972	13,878
Fair Value, Measurements, Recurring | Level 2 | Asset-backed securities
Assets
Marketable securities		2,002
Fair Value, Measurements, Recurring | Level 2 | Corporate debt securities
Assets
Marketable securities	15,452	18,711
Fair Value, Measurements, Recurring | Level 3
Assets
Total assets	0	0
Fair Value, Measurements, Recurring | Level 3 | Money market funds
Assets
Money market funds	0	0
Fair Value, Measurements, Recurring | Level 3 | U.S. government securities
Assets
Marketable securities	0	0
Fair Value, Measurements, Recurring | Level 3 | Commercial paper
Assets
Marketable securities	0	0
Fair Value, Measurements, Recurring | Level 3 | Asset-backed securities
Assets
Marketable securities		0
Fair Value, Measurements, Recurring | Level 3 | Corporate debt securities
Assets
Marketable securities	$ 0	$ 0

Certain Balance Sheet Compone_3

Certain Balance Sheet Components - Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Prepaid hosting and data costs	$ 16,482	$ 2,455
Other prepaid expenses	8,370	6,492
Inventory	5,319	3,940
Prepaid insurance	339	3,546
Card program deposits	2,128	2,167
Contract assets	469	950
Other financial instruments	0	11,616
Other current assets	5,535	4,451
Prepaid expenses and other current assets	38,642	$ 35,617
Impairment of equity method investments options to purchase remaining interests	$ 11,600

Certain Balance Sheet Compone_4

Certain Balance Sheet Components - Property and Equipment, net (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 22,473,000		$ 22,473,000		$ 22,104,000
Accumulated depreciation and amortization	(13,830,000)		(13,830,000)		(12,417,000)
Property and equipment, net	8,643,000		8,643,000		9,687,000
Depreciation and amortization	921,000	$ 874,000	1,900,000	$ 1,781,000
Capitalized internal-use software costs	0	$ 1,400,000	0	$ 1,400,000
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	8,110,000		8,110,000		8,110,000
Computer equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	8,721,000		8,721,000		8,581,000
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property and equipment, gross	2,560,000		2,560,000		2,459,000
Internally developed and purchased software
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 3,082,000		$ 3,082,000		$ 2,954,000

Certain Balance Sheet Compone_5

Certain Balance Sheet Components - Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accrued costs of revenue	$ 47,925	$ 41,339
Accrued compensation and benefits	25,377	32,954
Deferred revenue	16,559	19,060
Reserve for contract contingencies and processing errors	3,753	3,386
Operating lease liabilities, current portion	3,198	3,021
Accrued professional services	4,494	2,454
Other accrued liabilities	9,211	11,882
Accrued expenses and other current liabilities	$ 110,517	$ 114,096
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accrued expenses and other current liabilities	Accrued expenses and other current liabilities

Certain Balance Sheet Compone_6

Certain Balance Sheet Components - Other Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Deferred revenue, net of current portion	$ 3,082	$ 6,107
Other long-term liabilities	0	450
Other liabilities	$ 3,082	$ 6,557

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details) ft² in Thousands, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022 USD ($) ft²	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($) ft²	Jun. 30, 2021 USD ($)
Guarantor Obligations
Area of real estate property | ft²	63		63
Purchase commitment	$ 224.7		$ 224.7
Purchase commitment period (in years)			5 years
Company matching contribution, percent			50%
Employer matching contribution, percent of employees' gross pay			6%
Employer contribution amount	1.3	$ 0.7	$ 3.4	$ 1.5
Cloud Computing Service Agreement
Guarantor Obligations
Purchase commitment	219		219
Letter of Credit
Guarantor Obligations
Letters of credit, amount	1.5		1.5
Letter of Credit | Restricted Cash
Guarantor Obligations
Deposit assets	$ 1.5		$ 1.5

Commitments and Contingencies_2

Commitments and Contingencies - Lease Costs (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Operating lease cost	$ 843	$ 869	$ 1,686	$ 1,738
Variable lease cost	261	(42)	418	70
Short-term lease cost	219	59	331	131
Total lease cost	$ 1,323	$ 886	$ 2,435	$ 1,939

Commitments and Contingencies_3

Commitments and Contingencies - Weighted Average Lease Term and Weighted Average Discount Rate (Details)	Jun. 30, 2022	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Weighted average remaining operating lease term (in years)	3 years 7 months 6 days	4 years 1 month 6 days
Weighted average discount rate	7.70%	7.70%

Commitments and Contingencies_4

Commitments and Contingencies - Lease Maturity Schedule (Details) $ in Thousands	Jun. 30, 2022 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Remainder of 2022	$ 2,073
2023	4,239
2024	4,472
2025	4,599
2026	780
Total lease payments	16,163
Less imputed interest	(2,179)
Total operating lease liabilities	$ 13,984
Operating Lease, Liability, Statement of Financial Position [Extensible Enumeration]	Accounts Payable and Accrued Liabilities

Commitments and Contingencies_5

Commitments and Contingencies - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Cash paid for operating lease liabilities	$ 1,023,000	$ 1,032	$ 2,039,000	$ 2,065

Stock Incentive Plans - Narrati

Stock Incentive Plans - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands		1 Months Ended			3 Months Ended		6 Months Ended
	Jun. 08, 2021	May 31, 2021	May 30, 2021	Apr. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award
Share-based compensation expense					$ 35,148	$ 55,536	$ 72,153	$ 66,928
Restricted Stock Units with Service Condition
Share-based Compensation Arrangement by Share-based Payment Award
Award vesting period (in years)							4 years
Share-based compensation expense	$ 23,100
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award
Share-based compensation expense					15,078	30,068	$ 30,423	30,068
CEO Long-term performance awards					229,900		$ 229,900
Compensation costs related to unvested outstanding stock options, period for recognition (in years)							3 years 3 months 18 days
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award
Granted (in shares)							3,013,518
Granted (in dollars per share)							$ 10.39
Stock Options | 2021 Stock Option and Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award
Fair market value of one share of common stock threshold							110%
Stock options
Share-based Compensation Arrangement by Share-based Payment Award
Share-based compensation expense					6,160	8,272	$ 13,818	13,777
Compensation costs related to unvested outstanding stock options, period for recognition (in years)							2 years 6 months
Compensation costs related to unvested outstanding stock options					76,500		$ 76,500
CEO Long-Term Performance Award | Chief Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award
Award vesting period (in years)							7 years
Share-based compensation expense					13,267	11,363	$ 26,388	11,363
Compensation costs related to unvested outstanding stock options, period for recognition (in years)							3 years 7 months 6 days
Granted (in shares)			47,267	19,740,923
Granted (in dollars per share)		$ 23.40		$ 21.49
Weighted average grant date fair value (in dollars per share)							$ 10.53
Expected cost to be recognized over remaining derived service period					143,800		$ 143,800
Secondary sales of common stock
Share-based Compensation Arrangement by Share-based Payment Award
Share-based compensation expense					$ 0	$ 5,755	$ 0	$ 11,642
Class A Common Stock | Stock Options | 2021 Stock Option and Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award
Fair market value of one share of common stock threshold							110%
Combined voting power of stockholder, 10% Stockholder							10%
Expiration period (in years)							10 years
Class A Common Stock | Stock options, 10% Stockholders | 2021 Stock Option and Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award
Combined voting power of stockholder, 10% Stockholder							10%
Expiration period (in years)							5 years
Class A Common Stock | Stock options | 2021 Stock Option and Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award
Purchase price of common stock, percent							85%

Stock Incentive Plans - Schedul

Stock Incentive Plans - Schedule of Share-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expense	$ 35,148	$ 55,536	$ 72,153	$ 66,928
Restricted stock units
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expense	15,078	30,068	30,423	30,068
Stock options
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expense	6,160	8,272	13,818	13,777
CEO Long-Term Performance Award | Chief Executive Officer
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expense	13,267	11,363	26,388	11,363
Employee Stock Purchase Plan
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expense	643	78	1,524	78
Secondary sales of common stock
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expense	$ 0	$ 5,755	$ 0	$ 11,642

Stock Incentive Plans - Restric

Stock Incentive Plans - Restricted Stock Units (Details) - Restricted Stock Units (RSUs)	6 Months Ended
	Jun. 30, 2022 $ / shares shares
Number of Restricted Stock Units
Balance at beginning of the period (in shares) | shares	9,001,949
Granted (in shares) | shares	17,387,744
Vested (in shares) | shares	(2,029,261)
Canceled and forfeited (in shares) | shares	(3,889,475)
Balance at the end of the period (in shares) | shares	20,470,957
Weighted-average grant date fair value per share
Balance at the beginning of the period (in dollars per share) | $ / shares	$ 18.30
Grant (in dollars per share) | $ / shares	10.48
Vested (in dollars per share) | $ / shares	14.77
Canceled and forfeited (in dollars per share) | $ / shares	14.88
Balance at the end of the period (in dollars per share) | $ / shares	$ 11.11

Stock Incentive Plans - Summary

Stock Incentive Plans - Summary of Stock Option Activity Under Stock Incentive Plan (Details) - Stock Options $ / shares in Units, $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2022 USD ($) $ / shares shares	Dec. 31, 2021 USD ($) $ / shares shares
Number of Options
Balance at the beginning of the period (in shares) | shares	44,185,488
Granted (in shares) | shares	3,013,518
Exercised (in shares) | shares	(2,918,489)
Canceled and forfeited (in shares) | shares	(2,755,876)
Balance at the end of the period (in shares) | shares	41,524,641	44,185,488
Weighted-Average Exercise Price per Share
Balance at the beginning of the period (in dollars per share) | $ / shares	$ 13.31
Granted (in dollars per share) | $ / shares	10.39
Exercised (in dollars per share) | $ / shares	1.19
Canceled and forfeited (in dollars per share) | $ / shares	6.27
Balance at the end of the period (in dollars per share) | $ / shares	$ 14.41	$ 13.31
Option Activity, Additional Disclosures
Options outstanding, Weighted Average Remaining Contractual Life (Years)	7 years 10 months 13 days	8 years 5 months 15 days
Options outstanding, Aggregate Intrinsic Value (in USD) | $	$ 79,475	$ 279,242
Options Vested as of June 30, 2022, Number of Options (in shares) | shares	10,381,579
Options Vested as of June 30, 2022, Exercise Price per Share (in dollars per share) | $ / shares	$ 4.12
Options Vested, Weighted Average Remaining Contractual Life (Years)	5 years 3 months 14 days
Options Vested, as of June 30, 2022, Aggregate Intrinsic Value (in USD) | $	$ 59,976

Stock Incentive Plans - Weighte

Stock Incentive Plans - Weighted Average Assumptions (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Share-Based Payment Arrangement [Abstract]
Dividend yield	0%	0%	0%	0%
Expected volatility	61.90%	54.72%	59.37%	54.15%
Expected term (in years)	6 years 29 days	6 years 10 months 2 days	6 years 29 days	6 years 8 months 23 days
Risk-free interest rate	2.81%	1.32%	2.18%	1.22%

Stock Incentive Plans - CEO Per

Stock Incentive Plans - CEO Performance Awards (Details) - CEO Long-Term Performance Award - Chief Executive Officer	6 Months Ended
	Jun. 30, 2022 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award
Number of Options Eligible to Vest (in shares)	19,788,188
Tranche 1
Share-based Compensation Arrangement by Share-based Payment Award
Company Stock Price Hurdle (in dollars per share) | $ / shares	$ 67.50
Number of Options Eligible to Vest (in shares)	2,826,884
Tranche 2
Share-based Compensation Arrangement by Share-based Payment Award
Company Stock Price Hurdle (in dollars per share) | $ / shares	$ 78.98
Number of Options Eligible to Vest (in shares)	2,826,884
Tranche 3
Share-based Compensation Arrangement by Share-based Payment Award
Company Stock Price Hurdle (in dollars per share) | $ / shares	$ 92.40
Number of Options Eligible to Vest (in shares)	2,826,884
Tranche 4
Share-based Compensation Arrangement by Share-based Payment Award
Company Stock Price Hurdle (in dollars per share) | $ / shares	$ 108.11
Number of Options Eligible to Vest (in shares)	2,826,884
Tranche 5
Share-based Compensation Arrangement by Share-based Payment Award
Company Stock Price Hurdle (in dollars per share) | $ / shares	$ 126.49
Number of Options Eligible to Vest (in shares)	2,826,884
Tranche 6
Share-based Compensation Arrangement by Share-based Payment Award
Company Stock Price Hurdle (in dollars per share) | $ / shares	$ 147.99
Number of Options Eligible to Vest (in shares)	2,826,884
Tranche 7
Share-based Compensation Arrangement by Share-based Payment Award
Company Stock Price Hurdle (in dollars per share) | $ / shares	$ 173.15
Number of Options Eligible to Vest (in shares)	2,826,884

Warrants to Purchase Common S_2

Warrants to Purchase Common Stock - Narrative (Details) - Common Stock Warrants - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021	Dec. 31, 2020
Class of Warrant or Right [Line Items]
Number of securities called by each warrant (in shares)					1,150,000	750,000
Exercise price of warrants (in dollars per share)					$ 0.01
Redeemable convertible preferred stock warrant liabilities					$ 26.4	$ 5.7
Vested warrants outstanding (in shares)	483,838		483,838
Class of warrant or right, reduction to net revenues in the period	$ (1.8)	$ 0	$ (3.4)	$ 0

Net Loss Per Share Attributab_3

Net Loss Per Share Attributable to Common Stockholders - EPS (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Earnings Per Share [Abstract]
Net loss attributable to Class A and Class B common stockholders	$ (44,688)	$ (68,554)	$ (105,286)	$ (81,392)
Weighted-average shares used in computing net loss per share attributable to common stockholders - basic (in shares)	544,704,146	234,669,664	543,524,008	183,784,697
Weighted-average shares used in computing net loss per share attributable to common stockholders - diluted (in shares)	544,704,146	234,669,664	543,524,008	183,784,697
Net loss per share attributable to common stockholders, basic (in dollars per share)	$ (0.08)	$ (0.29)	$ (0.19)	$ (0.44)
Net loss per share attributable to common stockholders, diluted (in dollars per share)	$ (0.08)	$ (0.29)	$ (0.19)	$ (0.44)
Net Income (Loss) from Continuing Operations Available to Common Shareholders, Diluted	$ (44,688)	$ (68,554)	$ (105,286)	$ (81,392)

Net Loss Per Share Attributab_4

Net Loss Per Share Attributable to Common Stockholders - Antidilutive Securities (Details) - shares	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	140,116,371	119,321,192
Warrants to purchase Class B common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	1,900,000	2,103,610
Stock options outstanding, including early exercise of options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	41,524,641	48,319,951
Restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	20,470,957	8,423,137
Shares committed under the ESPP
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	247,589	0
Stock options and RSUs available for future grants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	75,973,184	60,474,494

Concentration of Risks and Si_2

Concentration of Risks and Significant Customers (Details) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2022 USD ($) investment	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($) investment	Jun. 30, 2021 USD ($)	Dec. 31, 2021 USD ($)
Concentration Risk [Line Items]
Cash and cash equivalents	$ 1,220,273	$ 1,579,287	$ 1,220,273	$ 1,579,287	$ 1,247,581
Marketable securities	444,873		444,873		452,875
Credit Concentration Risk | Investments
Concentration Risk [Line Items]
Cash and cash equivalents	$ 500,000		$ 500,000		1,200,000
Number of investments | investment	3		3
Credit Concentration Risk | Debt Securities, Available-For-Sale
Concentration Risk [Line Items]
Marketable securities	$ 410,400		$ 410,400		$ 418,300
Credit Concentration Risk | Debt Securities, Available-For-Sale | Marketable Securities
Concentration Risk [Line Items]
Concentration risk, percentage			92%		92%
Credit Concentration Risk | Accounts Receivable | Sutton Bank
Concentration Risk [Line Items]
Concentration risk, percentage	83%	92%	84%	93%
Customer Concentration Risk | Revenue from Contract with Customer Benchmark | Largest customer
Concentration Risk [Line Items]
Concentration risk, percentage	69%	72%	68%	73%

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Mar. 31, 2021	Jun. 30, 2022	May 31, 2021
Connexpay, LLC
Related Party Transaction [Line Items]
Revenue from related parties	$ 0.7		$ 2.5
Revenue share payable	$ 0.5		$ 0.5
DFS Services LLC | DFS Services LLC | DFS Services LLC
Related Party Transaction [Line Items]
Ownership interest by related party				5%
PULSE Network LLC | Card Network Fees, Net
Related Party Transaction [Line Items]
Expenses from transactions with related parties		$ 11