Consolidated Balance Sheets

(In thousands, except share and per share amounts)

	As of December 31,
	2023		2022
ASSETS
Current assets:
Cash and cash equivalents	$	914,323			$	921,278
Short-term investments	236,118			250,413
Accounts receivable, net	24,734			27,888
Prepaid and other current assets	129,884			80,203
Funds receivable and seller accounts	265,387			233,961
Total current assets	1,570,446			1,513,743
Restricted cash				5,341
Property and equipment, net	249,794			249,744
Goodwill	138,377			137,724
Intangible assets, net	457,140			535,406
Deferred tax assets	137,776			121,506
Long-term investments	86,676			29,137
Other assets	45,191			42,360
Total assets	$	2,685,400			$	2,634,961
LIABILITIES AND STOCKHOLDERS' DEFICIT
Current liabilities:
Accounts payable	$	29,920			$	28,757
Accrued expenses	353,553			331,234
Finance lease obligationscurrent	6,079			4,731
Funds payable and amounts due to sellers	265,387			233,961
Deferred revenue	14,635			14,008
Other current liabilities	41,207			19,064
Total current liabilities	710,781			631,755
Finance lease obligationsnet of current portion	99,620			105,699
Deferred tax liabilities	13,192			44,735
Long-term debt, net	2,283,817			2,279,640
Other liabilities	121,705			120,406
Total liabilities	3,229,115			3,182,235
Commitments and contingencies (Note 14)
Stockholders' deficit:
Common stock ($0.001 par value, 1,400,000,000 shares authorized as of December31, 2023 and 2022; 119,068,884 and 125,054,278 shares issued and outstanding as of December31, 2023 and 2022, respectively)	119			125
Preferred stock ($0.001 par value, 25,000,000 shares authorized as of December31, 2023 and 2022)
Additional paid-in capital	1,081,026			815,085
Accumulated deficit	(1,357,390)			(1,048,267)
Accumulated other comprehensive loss	(267,470)			(314,217)
Total stockholders' deficit	(543,715)			(547,274)
Total liabilities and stockholders' deficit	$	2,685,400			$	2,634,961

The accompanying notes are an integral part of these consolidated financial statements.

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Consolidated Statements of Operations

(In thousands, except share and per share amounts)

	Year Ended December 31,
	2023		2022		2021
Revenue	$	2,748,377			$	2,566,111			$	2,329,114
Cost of revenue	828,675			744,592			654,512
Gross profit	1,919,702			1,821,519			1,674,602
Operating expenses:
Marketing	759,196			710,399			654,804
Product development	469,332			412,398			271,535
General and administrative	343,242			312,260			282,531
Asset impairment charges	68,091			1,045,022
Total operating expenses	1,639,861			2,480,079			1,208,870
Income (loss) from operations	279,841			(658,560)			465,732
Other income (expense):
Interest expense	(14,042)			(14,168)			(9,885)
Interest and other income	35,999			10,956			2,137
Foreign exchange (loss) gain	(6,348)			(206)			13,670
Loss on sale of business	(2,630)
Total other income (expense)	12,979			(3,418)			5,922
Income (loss) before income taxes	292,820			(661,978)			471,654
Benefit (provision) for income taxes	14,748			(32,310)			21,853
Net income (loss)	$	307,568			$	(694,288)			$	493,507
Net income (loss) per share attributable to common stockholders:
Basic	$	2.51			$	(5.48)			$	3.88
Diluted	$	2.24			$	(5.48)			$	3.40
Weighted average common shares outstanding:
Basic	122,503,366			126,778,626			127,224,974
Diluted	140,145,406			126,778,626			146,683,324

The accompanying notes are an integral part of these consolidated financial statements.

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Consolidated Statements of Comprehensive Income (Loss)

(In thousands)

	Year Ended December 31,
	2023		2022		2021
Net income (loss)	$	307,568			$	(694,288)			$	493,507
Other comprehensive income (loss):
Cumulative translation adjustment	44,977			(237,784)			(80,203)
Unrealized gains (losses) on investments, net of tax expense (benefit) of $574, $(448), and $(240), respectively	1,770			(1,419)			(762)
Total other comprehensive income (loss)	46,747			(239,203)			(80,965)
Comprehensive income (loss)	$	354,315			$	(933,491)			$	412,542

The accompanying notes are an integral part of these consolidated financial statements.

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Consolidated Statements of Changes in Stockholders'Equity (Deficit)

(In thousands, except share amounts)

	Common Stock		Additional Paid-in Capital		(Accumulated Deficit) Retained Earnings		Accumulated Other Comprehensive Income (Loss)		Total
	Shares		Amount
Balance as of December 31, 2020	125,835,931			$	126			$	883,166			$	(146,819)			$	5,951			$	742,424
Cumulative effect of adoption of accounting standard changes							(228,738)			27,828						(200,910)
Stock-based compensation							139,280									139,280
Exercise of vested options	994,456			1			22,705									22,706
Purchase of capped calls, net of taxes							(64,673)									(64,673)
Settlement of convertible senior notes, net of taxes	985,522			1			(424)									(423)
Vesting of restricted stock units, net of shares withheld	818,442			1			(119,554)									(119,553)
Stock repurchase	(1,612,233)			(2)						(302,772)						(302,774)
Other comprehensive loss													(80,965)			(80,965)
Net income										493,507						493,507
Balance as of December 31, 2021	127,022,118			127			631,762			71,744			(75,014)			628,619
Stock-based compensation (1)	191,493						248,114									248,114
Exercise of vested options	816,620			1			15,023									15,024
Settlement of convertible senior notes, net of taxes	358
Vesting of restricted stock units, net of shares withheld	981,844			1			(79,814)									(79,813)
Stock repurchase	(3,958,155)			(4)						(425,723)						(425,727)
Other comprehensive loss													(239,203)			(239,203)
Net loss										(694,288)						(694,288)
Balance as of December 31, 2022	125,054,278			125			815,085			(1,048,267)			(314,217)			(547,274)
Stock-based compensation (1)	45,680						300,687									300,687
Exercise of vested options	623,161			1			14,227									14,228
Settlement of capped call	(1,194,006)			(1)			34,224			(34,223)
Settlement of convertible senior notes, net of taxes	278						(1)									(1)
Vesting of restricted stock units, net of shares withheld	1,419,337			1			(83,196)									(83,195)
Stock repurchase	(6,879,844)			(7)						(582,468)						(582,475)
Other comprehensive income													46,747			46,747
Net income										307,568						307,568
Balance as of December 31, 2023	119,068,884			$	119			$	1,081,026			$	(1,357,390)			$	(267,470)			$	(543,715)

(1) Includes the partial payment of Depop deferred consideration.See "Note 16Stock-based Compensation" for additional information.

The accompanying notes are an integral part of these consolidated financial statements.

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Consolidated Statements of Cash Flows

(In thousands)

	Year Ended December 31,
	2023		2022		2021
Cash flows from operating activities
Net income (loss)	$	307,568			$	(694,288)			$	493,507
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Stock-based compensation expense	284,558			230,888			139,910
Depreciation and amortization expense	91,323			96,702			74,267
Provision for expected credit losses	19,634			12,464			16,031
Foreign exchange loss (gain)	7,400			1,238			(14,071)
Asset impairment charges	68,091			1,045,022
Deferred benefit for income taxes	(50,086)			(55,303)			(88,952)
Loss on sale of business	2,630
Other non-cash (income) expense, net	(1,901)			6,423			6,976
Changes in operating assets and liabilities, net of sale of business and acquisitions:
Accounts receivable	(16,066)			(14,056)			(19,256)
Funds receivable and seller accounts	(29,328)			(20,570)			(83,941)
Prepaid expenses and other current assets	(47,490)			23,840			(44,186)
Other assets	(2,409)			7,390			(25,159)
Accounts payable	2,582			532			(14,169)
Accrued and other current liabilities	34,439			6,439			84,789
Funds payable and amounts due to sellers	29,328			20,570			83,941
Deferred revenue	457			1,905			1,441
Other liabilities	4,783			14,416			40,423
Net cash provided by operating activities	705,513			683,612			651,551
Cash flows from investing activities
Acquisition of businesses, net of cash acquired							(1,699,974)
Cash paid for intangible assets	(12)			(6,456)			(1,937)
Purchases of property and equipment	(12,938)			(10,237)			(11,248)
Development of internal-use software	(26,958)			(20,506)			(16,922)
Purchases of investments	(342,850)			(270,345)			(418,518)
Sales and maturities of investments	309,451			277,520			590,630
Net cash used in investing activities	(73,307)			(30,024)			(1,557,969)
Cash flows from financing activities
Payment of tax obligations on vested equity awards	(83,441)			(79,163)			(118,167)
Repurchase of stock	(576,968)			(425,727)			(302,774)
Proceeds from exercise of stock options	14,228			15,024			22,706
Proceeds from issuance of convertible senior notes							1,000,000
Payment of debt issuance costs	(2,215)			(25)			(13,300)
Purchase of capped calls							(85,000)
Settlement of convertible senior notes	(90)			(44)			(43,900)
Payments on finance lease obligations	(6,278)			(6,307)			(8,864)
Other financing, net	(1,769)			(10,242)			2,048
Net cash (used in) provided by financing activities	(656,533)			(506,484)			452,749
Effect of exchange rate changes on cash	12,031			(6,022)			(10,234)
Net (decrease) increase in cash, cash equivalents, and restricted cash	(12,296)			141,082			(463,903)
Cash, cash equivalents, and restricted cash at beginning of period	926,619			785,537			1,249,440
Cash, cash equivalents, and restricted cash at end of period	$	914,323			$	926,619			$	785,537

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Consolidated Statements of Cash Flows

(In thousands)

	Year Ended December 31,
	2023		2022		2021
Supplemental cash flow disclosures:
Cash paid for interest	$	9,315			$	9,534			$	6,054
Cash paid for income taxes, net of refunds	$	42,676			$	41,679			$	94,160
Supplemental non-cash disclosures:
Stock-based compensation capitalized in development of capitalized software and asset additions in exchange for liabilities	$	19,437			$	9,799			$	7,297
Lease assets obtained in exchange for new lease liabilities	$	7,751			$	1,727			$	68,023
Excise tax payable	$	5,507			$				$
Deferred consideration (1)	$	4,611			$	17,197			$
Replacement share-based awards issued in conjunction with acquisitions	$				$				$	5,686

(1) See "Note 16Stock-based Compensation" for more information on the settlement of deferred consideration.

The following table provides a reconciliation of cash and cash equivalents and restricted cash reported within the Consolidated Balance Sheets that sum to the total of the same such amounts shown above:

	As of December 31,
	2023		2022		2021
Beginning balance:
Cash and cash equivalents	$	921,278			$	780,196			$	1,244,099
Restricted cash	5,341			5,341			5,341
Total cash and cash equivalents, and restricted cash	$	926,619			$	785,537			$	1,249,440
Ending balance:
Cash and cash equivalents	$	914,323			$	921,278			$	780,196
Restricted cash				5,341			5,341
Total cash and cash equivalents, and restricted cash	$	914,323			$	926,619			$	785,537

The accompanying notes are an integral part of these consolidated financial statements.

Identify the financial statements for a publicly traded company. You will probably need the most recent year and the previous year annual report. Complete all ratios and calculate them for the most recent year and the year previous. prepare a paragraph that indicates what the comparison shows about the liquidity, efficiency or profitability of company:

Current ratio and quick ratio

Accounts Receivable Turnover and Days Sales in Receivables

Inventory Turnover and Days in Inventory

Gross Profit Margin Percent, Net Profit Ratio and Return on Investment/Assets Please provide a step by step of all ratio and calculations.