v3.20.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities    
Net income (loss) for the year $ 319,509 $ (124,842)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Amortization and depreciation 70,060 35,651
Stock-based compensation 246,940 158,456
Amortization of debt discount and offering costs 8,756 0
Impairment of right-of-use assets and leasehold improvements 31,623 0
Provision for transaction and loan losses 27,282 17,946
Deferred income taxes (41,998) (37,918)
Unrealized gain on equity and other investments (135,193) 0
Unrealized foreign exchange (gain) loss (1,689) 3,181
Changes in operating assets and liabilities:    
Trade and other receivables (29,146) (56,181)
Merchant cash advances, loans and related receivables (112,721) (74,211)
Other current assets (11,404) (12,401)
Non-cash consideration received in exchange for services (24,710) 0
Accounts payable and accrued liabilities 118,588 82,529
Income tax assets and liabilities (105,890) 64,648
Deferred revenue 66,155 12,305
Lease assets and liabilities (1,204) 1,452
Net cash provided by operating activities 424,958 70,615
Cash flows from investing activities    
Purchase of marketable securities (5,600,207) (2,718,604)
Maturity of marketable securities 3,721,405 2,477,038
Purchase of equity and other investments (11,051) 0
Acquisitions of property and equipment (41,733) (56,759)
Acquisitions of intangible assets (262) (5,638)
Acquisition of businesses, net of cash acquired 0 (265,512)
Net cash used in investing activities (1,931,848) (569,475)
Cash flows from financing activities    
Proceeds from public offering, net of issuance costs 2,578,591 688,014
Proceeds from convertible senior notes, net of underwriting fees and offering costs 907,950 0
Proceeds from the exercise of stock options 70,809 48,337
Net cash provided by financing activities 3,557,350 736,351
Effect of foreign exchange on cash and cash equivalents 3,221 1,742
Net increase in cash and cash equivalents 2,053,681 239,233
Cash and cash equivalents – Beginning of Year 649,916 410,683
Cash and cash equivalents – End of Year 2,703,597 649,916
Supplemental cash flow information:    
Cash paid for amounts included in the measurement of lease liabilities included in cash flows from operating activities 21,753 15,611
Lease liabilities arising from obtaining right-of-use assets 29,820 153,053
Acquired property and equipment remaining unpaid $ 1,881 $ 7,878