Updated May 8, 2025, 10:44 PM UTC
| Income Statement - Metric | Q3 2021 | FY 2021 | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | FY 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | FY 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | FY 2024 | Q1 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (USD, thousands) | 35,208.00 | 150,687 | 33,535 | 33,288.00 | 35,409.00 | 37,004.00 | 139,236 | 36,074 | ||||||||||
| Cost of revenue, net (USD, thousands) | 16,508.00 | 66,888 | 14,584 | 14,363.00 | 17,144.00 | 18,148.00 | 64,239 | 17,832 | ||||||||||
| Gross margin (USD, thousands) | 18,700.00 | 83,799 | 18,951 | 18,925.00 | 18,265.00 | 18,856.00 | 74,997 | 18,242 | ||||||||||
| Research and development (USD, thousands) | 6,249.00 | 23,368 | 5,929 | 6,389.00 | 5,618.00 | 6,702.00 | 24,638 | 5,358 | ||||||||||
| General and administrative (USD, thousands) | 10,842.00 | 49,228 | 11,431 | 9,245.00 | 9,084.00 | 8,622.00 | 38,382 | 10,829 | ||||||||||
| Sales and marketing (USD, thousands) | 7,595.00 | 44,352 | 3,384 | 3,072.00 | 3,274.00 | 3,067.00 | 12,797 | 3,542 | ||||||||||
| Total operating expenses (USD, thousands) | 24,686.00 | 116,948 | 20,744 | 18,706.00 | 17,976.00 | 18,391.00 | 75,817 | 19,729 | ||||||||||
| Loss from operations (USD, thousands) | (5,986.00) | (33,149) | (1,793) | 219.00 | 289.00 | 465.00 | (820) | (1,487) | ||||||||||
| Interest and other expenses, net (USD, thousands) | (169.00) | (5,327) | (954) | (260.00) | 181.00 | (539.00) | (1,572) | 324 | ||||||||||
| Loss before income taxes (USD, thousands) | (6,155.00) | (38,476) | (2,747) | (41.00) | 470.00 | (74.00) | (2,392) | (1,163) | ||||||||||
| Provision for income taxes (USD, thousands) | (1,049.00) | (2,980) | (1,034) | (2,723.00) | (2,668.00) | (1,238.00) | (7,663) | (2,006) | ||||||||||
| Net loss (USD, thousands) | (7,204.00) | (41,456) | (3,781) | (2,764.00) | (2,198.00) | (1,312.00) | (10,055) | (3,169) | ||||||||||
| Net loss per share, Basic and diluted (USD) | (0.08) | (0.50) | (0.04) | (0.04) | (0.02) | (0.02) | (0.12) | (0.03) | ||||||||||
| Weighted average shares of common stock used to compute net loss per share, Basic and diluted | 407,718.00 | 82,493,226 | 85,141,411 | 726,272.00 | 775,526.00 | 737,499.00 | 87,380,708 | 91,501,083 | ||||||||||
| Balance Sheet - Metric | Q3 2021 | FY 2021 | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | FY 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | FY 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | FY 2024 | Q1 2025 |
| Cash and cash equivalents (USD, thousands) | 47,510 | 47,510 | 49,340 | 53,234 | 39,172 | 48,772 | 48,772 | 59,627 | ||||||||||
| Accounts receivable, net (USD, thousands) | 13,834 | 13,834 | 13,557 | 13,420 | 12,650 | 12,701 | 12,701 | 12,555 | ||||||||||
| Settlement assets, net (USD, thousands) | 39,261 | 39,261 | 48,513 | 48,301 | 53,391 | 42,406 | 42,406 | 50,038 | ||||||||||
| Prepaid expenses (USD, thousands) | 5,649 | 5,649 | 4,379 | 8,768 | 9,002 | 12,089 | 12,089 | 11,499 | ||||||||||
| Other current assets (USD, thousands) | 30,978 | 30,978 | 27,399 | 32,044 | 24,321 | 20,908 | 20,908 | 19,992 | ||||||||||
| Total current assets (USD, thousands) | 137,232 | 137,232 | 143,188 | 155,767 | 138,536 | 136,876 | 136,876 | 153,711 | ||||||||||
| Capitalized software, net (USD, thousands) | 12,494 | 12,494 | 15,107 | 16,006 | 16,859 | 16,232 | 16,232 | 15,232 | ||||||||||
| Property and equipment, net (USD, thousands) | 14,372 | 14,372 | 14,138 | 13,905 | 13,763 | 13,621 | 13,621 | 13,482 | ||||||||||
| Lease right‐of‐use assets (USD, thousands) | 6,435 | 6,435 | 5,954 | 5,783 | 5,611 | 5,441 | 5,441 | 5,269 | ||||||||||
| Deferred tax assets, net (USD, thousands) | 457 | 457 | 466 | 487 | 489 | 499,457 | 499,457 | 505 | ||||||||||
| Other assets (USD, thousands) | 5,794 | 5,794 | 5,918 | 924 | 988 | 1,011 | 1,011 | 1,037 | ||||||||||
| Total assets (USD, thousands) | 176,784 | 176,784 | 184,771 | 192,872 | 176,246 | 173,680 | 173,680 | 189,236 | ||||||||||
| Accounts payable (USD, thousands) | 1,425 | 1,425 | 1,373 | 1,022 | 1,035 | 196 | 196 | 526 | ||||||||||
| Accrued expenses and other liabilities (USD, thousands) | 9,390 | 9,390 | 10,326 | 7,853 | 7,294 | 8,240 | 8,240 | 9,732 | ||||||||||
| Lease liabilities, current (USD, thousands) | 432 | 432 | 436 | 461 | 631 | 729,432 | 729,432 | 738 | ||||||||||
| Settlement liabilities (USD, thousands) | 33,990 | 33,990 | 35,560 | 38,877 | 39,379 | 28,845 | 28,845 | 36,265 | ||||||||||
| Total current liabilities (USD, thousands) | 67,892 | 67,892 | 70,319 | 70,805 | 48,339 | 38,010 | 38,010 | 47,261 | ||||||||||
| Lease liabilities, non‐current (USD, thousands) | 6,467 | 6,467 | 6,155 | 6,118 | 5,928 | 5,738 | 5,738 | 5,558 | ||||||||||
| Other liabilities (USD, thousands) | 1,681 | 1,681 | 1,787 | 1,949 | 2,045 | 1,689 | 1,689 | 1,766 | ||||||||||
| Total liabilities (USD, thousands) | 76,040 | 76,040 | 78,261 | 78,872 | 56,312 | 45,437 | 45,437 | 54,585 | ||||||||||
| Common stock (USD, thousands) | 8 | 8 | 9 | 9 | 9 | 9 | 9 | 9 | ||||||||||
| Additional paid‐in capital (USD, thousands) | 241,509 | 241,509 | 251,055 | 261,309 | 269,441 | 279,062 | 279,062 | 288,639 | ||||||||||
| Accumulated deficit (USD, thousands) | (140,773) | (140,773) | (144,554) | (147,318) | (149,516) | (150,828) | (150,828) | (153,997) | ||||||||||
| Total stockholders’ equity (USD, thousands) | 100,744 | 100,744 | 106,510 | 114,000 | 119,934 | 128,243 | 128,243 | 134,651 | ||||||||||
| Total liabilities and stockholders’ equity (USD, thousands) | 176,784 | 176,784 | 184,771 | 192,872 | 176,246 | 173,680 | 173,680 | 189,236 | ||||||||||
| Cash Flow - Metric | Q3 2021 | FY 2021 | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | FY 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | FY 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | FY 2024 | Q1 2025 |
| Net loss (USD, thousands) | (7,204.00) | (41,456) | (3,781) | (2,764.00) | (2,198.00) | (1,312.00) | (10,055) | (3,169) | ||||||||||
| Depreciation and amortization (USD, thousands) | 1,293.00 | 5,164 | 1,423 | 1,630.00 | 1,798.00 | 1,963.00 | 6,814 | 1,983 | ||||||||||
| Reduction of operating lease right-of-use assets (USD, thousands) | 138.00 | 614 | 136 | 137.00 | 138.00 | 136.00 | 547 | 138 | ||||||||||
| Loss on impairment, receivables and sale or disposal of equipment (USD, thousands) | 338.00 | 923 | 337 | 200.00 | 100.00 | 90.00 | 727 | 156 | ||||||||||
| Stock-based compensation (USD, thousands) | 10,600.00 | 41,212 | 7,524 | 8,381.00 | 7,630.00 | 10,002.00 | 33,537 | 7,990 | ||||||||||
| Amortization of original issue discount and debt issuance costs (USD, thousands) | 118.00 | 257 | 11 | 17.00 | 15.00 | 11.00 | 54 | 11 | ||||||||||
| Net cash provided by operating activities (USD, thousands) | (543.00) | 1,559 | 3,471 | 9,317.00 | 3,687.00 | 7,402.00 | 23,877 | 4,805 | ||||||||||
| Software development costs (USD, thousands) | (2,180.00) | (5,910) | (2,829) | (2,038.00) | (1,832.00) | (929.00) | (7,628) | (498) | ||||||||||
| Net cash used in investing activities (USD, thousands) | (2,461.00) | (7,294) | (2,829) | (2,038.00) | (1,832.00) | (929.00) | (7,628) | (498) | ||||||||||
| Principal payments of finance leases (USD, thousands) | (31.00) | (513) | (31) | (32.00) | (33.00) | (33.00) | (129) | (34) | ||||||||||
| Principal payments of outstanding debt (USD, thousands) | (36,137.00) | (44,587) | (37) | (38.00) | (22,596.00) | 0.00 | (22,671) | 0 | ||||||||||
| Repurchases of early exercises of common stock (USD, thousands) | 4.00 | (17) | (32) | 0.00 | (3.00) | 0.00 | (35) | 0 | ||||||||||
| Proceeds from common stock purchased under Matching Plan (USD, thousands) | 1,123.00 | 4,255 | 914 | 1,090.00 | 896.00 | 1,191.00 | 4,091 | 1,151 | ||||||||||
| Proceeds from issuance of common stock on exercise of stock options (USD, thousands) | 95.00 | 311 | 39 | 14.00 | 250.00 | 128.00 | 431 | 91 | ||||||||||
| Payments for debt issuance costs (USD, thousands) | - | - | (8) | (63.00) | 0.00 | 0.00 | (71) | 0 | ||||||||||
| Net cash used in financing activities (USD, thousands) | (34,946.00) | (45,317) | 845 | 971.00 | (22,996.00) | (893.00) | (22,073) | 1,208 | ||||||||||
| Net increase (decrease) in cash and cash equivalents and restricted cash (USD, thousands) | (37,950.00) | (51,052) | 1,487 | 8,250.00 | (21,141.00) | 5,580.00 | (5,824) | 5,515 | ||||||||||
| Cash paid for interest (USD, thousands) | 1,540.00 | 5,936 | 454 | 449.00 | 423.00 | 36.00 | 1,362 | 0 | ||||||||||
| Cash paid for income taxes (USD, thousands) | 681.00 | 3,785 | 1,164 | 1,275.00 | 1,296.00 | 1,337.00 | 5,072 | 585 | ||||||||||
| Deferred tax assets (USD, thousands) | (113) | (113) | (9) | (30) | (32) | (42) | (42) | (6) | ||||||||||
| Revenue by Segment - in Millions of USD | Q3 2021 | FY 2021 | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | FY 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | FY 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | FY 2024 | Q1 2025 |
| Subscription Revenue | - | - | - | - | - | - | - | - | ||||||||||
| - Interchange Revenue | - | - | - | - | - | - | 9.2 | 5.0 | ||||||||||
| - Contra Revenue | - | - | - | - | - | - | - | - | ||||||||||
| Total Revenue | 35.22 | 150.7 | 33.535 | 33.288 | 35.41 | 36.97 | 139.2 | 36.07 | ||||||||||
| KPIs - Metric (Unit, Scale) | Q3 2021 | FY 2021 | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | FY 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | FY 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | FY 2024 | Q1 2025 |
| Paid members (thousands) | - | 719 | 688 | 684 | 684 | - | 687 | - | ||||||||||
| Gross logo retention (percentage) | - | 74 | - | - | - | - | 81 | - | ||||||||||
| Net seat retention (percentage) | - | 99 | - | - | - | - | 86 | - |