| Metric | FY2025 | FY2024 |
|---|---|---|
| Cash and cash equivalents | $252.2M+488.6% | $42.8M |
| Restricted cash and cash equivalents | $115.3M+306.2% | $28.4M |
| Customer custodial funds | $527.4M-8.4% | $575.6M |
| Crypto assets held | $439.6M-6.5% | $470.1M |
| Receivable, crypto assets pledged | $0-100.0% | $168.3M |
| Accounts receivable, net | $30.9M-52.7% | $65.4M |
| Credit card receivables pledged, net | $188.8M | $0 |
| Prepaid expenses and other current assets | $52.1M+40.4% | $37.1M |
| Total current assets | $1.61B+15.7% | $1.39B |
| Software, property and equipment, net | $15.1M-12.1% | $17.2M |
| Intangible assets, net | $139.8M-13.8% | $162.1M |
| Other non-current assets | $40.7M+51.5% | $26.9M |
| Total assets | $1.80B+13.0% | $1.59B |
| Custodial funds due to customers | $527.3M-8.1% | $574.1M |
| Accounts payable | $2.6M-84.9% | $17.6M |
| Accrued expenses | $55.5M+42.6% | $38.9M |
| Third party loans | $75.2M-36.1% | $117.6M |
| Related party loans | $0-100.0% | $237.2M |
| Funding debt | $154.4M | $0 |
| Other current liabilities | $21.5M-44.0% | $38.4M |
| Total current liabilities | $1.24B-8.0% | $1.35B |
| Lease liabilities | $20.6M+2.1% | $20.2M |
| Related party convertible notes | $0-100.0% | $248.8M |
| Total non-current liabilities | $20.6M-95.9% | $506.1M |
| Total liabilities | $1.26B-32.0% | $1.85B |
| Convertible preferred units: 30,955 Series A Units authorized, issued and outstanding with an aggregate liquidation preference of $223,022 as of December 31, 2024; 8,910 Series B Units authorized as of December 31, 2024; 8,887 Series B Units issued and outstanding as of December 31, 2024; and the Series B Units had an aggregate liquidation preference of $423,903 as of December 31, 2024. No shares authorized, issued, and outstanding as of December 31, 2025. | $0-100.0% | $534.4M |
| Common Units: 54,201 Common Units authorized as of December 31, 2024; 50,761 Common Units issued and outstanding as of December 31, 2024. No shares authorized, issued, and outstanding as of December 31, 2025. | $0 | $0 |
| Preferred stock, par value $0.001 per share; No shares authorized, issued and outstanding as of December 31, 2024; 20,000 shares authorized, no shares issued and outstanding as of December 31, 2025 | $0.00 | $0.00 |
| Treasury stock at cost; 0 and 284 shares as of December 31, 2024 and December 31, 2025, respectively | -$568K | $0 |
| Additional paid-in capital | $2.58B+290.2% | $662.1M |
| Accumulated other comprehensive income | $887K-70.3% | $3.0M |
| Accumulated deficit | -$2.04B-39.9% | -$1.46B |
| Total stockholders’ equity (deficit) | $540.9M+168.0% | -$795.4M |
| Total liabilities, convertible units, and stockholders’ equity | $1.80B+13.0% | $1.59B |
| Common Class A | ||
| Common stock | $75K | $0 |
| Common Class B | ||
Source: SEC EDGAR XBRL. % change vs prior period shown where available.
Source: SEC EDGAR 10-K and 10-Q filings. Up to 10 years annual / 16 quarters shown.