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Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Current assets    
Cash and cash equivalents $ 165,660 $ 149,759
Restricted cash 174 1,241
Short-term investments 0 41,952
Accounts receivable, net of allowances for credit losses of $3,945 and $3,234 74,971 51,738
Loans held for sale 212,921 159,587
Prepaid expenses 30,531 33,296
Other current assets 20,514 7,472
Total current assets 504,771 445,045
Property and equipment, net 43,312 46,431
Right-of-use assets, net 26,275 31,763
Mortgage servicing rights, at fair value 2,534 32,171
Long-term investments 0 3,149
Goodwill 461,349 461,349
Intangible assets, net 104,127 123,284
Other assets, noncurrent 8,705 10,456
Total assets 1,151,073 1,153,648
Current liabilities    
Accounts payable 14,280 10,507
Accrued and other liabilities 101,040 90,360
Warehouse credit facilities 208,817 151,964
Lease liabilities 13,347 15,609
Total current liabilities 337,484 268,440
Lease liabilities, noncurrent 22,853 29,084
Convertible senior notes, net, noncurrent 571,644 688,737
Deferred tax liabilities 647 264
Term loan 243,646 124,416
Total liabilities 1,176,274 1,110,941
Commitments and contingencies (Note 7)
Series A convertible preferred stock—par value $0.001 per share; 10,000,000 shares authorized; 40,000 shares issued and outstanding at September 30, 2024 and December 31, 2023 39,992 39,959
Stockholders’ (deficit) equity    
Common stock—par value $0.001 per share; 500,000,000 shares authorized; 123,945,380 and 117,372,171 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively 124 117
Additional paid-in capital 886,592 826,146
Accumulated other comprehensive loss (140) (182)
Accumulated deficit (951,769) (823,333)
Total stockholders’ (deficit) equity (65,193) 2,748
Total liabilities, mezzanine equity, and stockholders’ (deficit) equity $ 1,151,073 $ 1,153,648