ALPHAFORGE RESEARCH · COMPANY FILE · FINANCIALS & FINTECH

$CHYM

Chime Financial, Inc. · Nasdaq · SIC 6199 · CIK 1795586 · revision 10 as of 2026-09-26

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Research status

Evidence awaiting review · 40 pending evidence leads

Financial accounts through: 2026-06-30
Authored update: 2026-09-20
Source scan: 2026-10-12 09:40 ET
Full model review: Not recorded
Latest event review: Not recorded
Oldest pending lead: 2026-09-20 10:27 ET

Filings: checked | 2026-10-12 09:40 ET
News: checked | 2026-10-12 09:40 ET
Price: checked | 2026-10-12 09:40 ET

Open evidence leads

US IPO Weekly Winners & Losers - renaissancecapital.com
Top Ionic Digital (IOND) Competitors 2026 - MarketBeat
Is Chime Stock a Buy, Sell, or Hold After Nearly Doubling From Its 52-Week Low? - The Globe and Mail
Price review: -7.0% latest session, -17.2% five sessions
Is Chime Stock a Buy, Sell, or Hold After Nearly Doubling From Its 52-Week Low? - Yahoo Finance

Leads require verification; they are not established material changes.

A published model and a successful scan do not establish a completed review. Status describes current monitoring; every promotion requires fresh checks.

Research status JSON

Business

Chime provides payments, liquidity, credit and related financial services through its consumer platform and partner banks. Interchange, transfer fees and lending-related services monetize member activity. Its proposed Stride Bank acquisition would add a regulated bank subsidiary, subject to approvals.

Three drivers

Member purchase volume, card mix and payment yield
Platform monetization after credit and dispute losses
Loan funding, corporate cash and conditional bank acquisition

Thesis

Our view

Growing member activity and platform adoption are improving earnings, but lending losses, funding and the proposed bank purchase determine the cash retained for shareholders.

What changes it

Track member/payment activity, MyPay and Instant Loan losses, loan investment and the regulatory closing path.

Scenario ranges

Explicit downside/base/upside business assumptions; not price targets, probabilities or historical market-memory bands.

Model · 8 fiscal quarters (last eight)

Fiscal quarter	2025Q3 2024-09-30	2025Q4 2024-12-31	2025Q2 2025-03-31	2025Q2 2025-06-30	2025Q3 2025-09-30	2025Q4 2025-12-31	2026Q1 2026-03-31	2026Q2 2026-06-30
Revenue ($M)	421.9¹	475.2†²	518.7³	528.1⁴	543.5¹	596.4†²	647.4³	669.8⁴
Gross profit ($M)	368.4⁵	419.2†⁶	458.3⁷	461.0⁸	474.1⁵	530.2†⁶	580.3⁷	594.9⁸
Operating income ($M)	-30.6⁹	-27.1†¹⁰	9.1¹¹	-930.6¹²	-64.7⁹	-53.8†¹⁰	46.2¹¹	21.3¹²
Net income ($M)	-22.0¹³	-19.6†¹⁴	12.9¹⁵	-923.4¹⁵	-54.7¹³	-44.8†¹⁴	53.5¹⁵	27.9¹⁵
EPS, diluted ($)	-0.34¹⁶	—	0.00¹⁷	-7.29¹⁸	-0.15¹⁶	—	0.13¹⁷	0.07¹⁸
Diluted shares (M)	65.1¹⁹	—	65.9²⁰	126.6²¹	371.8¹⁹	—	400.5²⁰	393.4²¹
Cash ($M)	270.8²²	337.7²³	318.2²⁴	868.3²⁵	445.0²²	466.3²⁵	607.7²⁴	536.0²⁵
Long-term debt ($M)	—	—	—	—	—	—	—	—
Cash from operations ($M)	-24.9†²⁶	18.2†²⁷	-25.8²⁸	28.5†²⁹	17.5†²⁶	32.6†²⁷	87.5²⁸	207.5†²⁹
Capex ($M)	3.1†³⁰	—	—	—	2.1†³⁰	—	—	—
Free cash flow ($M)	-28.0†³¹	—	—	—	15.4†³¹	—	—	—

† derived (Q4 = fiscal year minus the first three quarters; year-to-date cash flows differenced; FCF = CFO − capex). Superscripts are the provenance notes below.

Estimates · base scenario

Period	Revenue ($M)	EPS ($)	As of	Basis
2026Q3	705.0	—	2026-09-20	Desk base scenario. Revenue basis: Revenue ($M). Calculated from the operating-model inputs below; not consensus or company guidance.
2026Q4	742.8	—	2026-09-20	Desk base scenario. Revenue basis: Revenue ($M). Calculated from the operating-model inputs below; not consensus or company guidance.
2027Q1	790.0	—	2026-09-20	Desk base scenario. Revenue basis: Revenue ($M). Calculated from the operating-model inputs below; not consensus or company guidance.
2027Q2	825.0	—	2026-09-20	Desk base scenario. Revenue basis: Revenue ($M). Calculated from the operating-model inputs below; not consensus or company guidance.

Member payments, lending losses and the proposed bank purchase

Operating scenarios · reviewed 2026-09-20 · USD millions unless labeled otherwise · our assumptions, not consensus

Drive payments from purchase volume and net yield. Scale platform revenue separately with membership and monetization. Deduct processing cost and explicit MyPay/other risk losses before corporate expense. Bridge adjusted EBITDA to operating income, operating cash, net loan funding and capital spending. The pending Stride price is a separate conditional cash claim; bank balance-sheet consolidation and synergies are excluded until supportable.

Reported anchors and guidance

Measure	Period	Value	Basis
Revised Q3 revenue outlook midpoint	2026Q3	705.00	derived. Calculated midpoint of the company range; not an additional company forecast.
Revised FY2026 revenue outlook midpoint	FY2026	2,765.00	derived. Calculated midpoint of the company range; not an additional company forecast.
Revised FY2026 adjusted EBITDA midpoint	FY2026	485.00	derived. Calculated midpoint of the company range; not an additional company forecast.
Reported transaction profit	H1 2026	982.99	reported. Reported consolidated amount, converted from thousands to millions. Source · 2026-08-06
Reported adj ebitda	H1 2026	220.22	reported. Reported consolidated amount, converted from thousands to millions. Source · 2026-08-06
Reported cfo	H1 2026	294.96	reported. Reported consolidated amount, converted from thousands to millions. Source · 2026-08-06
Reported net loan funding	H1 2026	53.90	reported. Reported consolidated amount, converted from thousands to millions. Source · 2026-08-06
H1 cash after loan investment and assets	H1 2026	223.67	derived. No deduction for discretionary stock repurchases.
Cash plus marketable securities	June 30, 2026	1,063.42	derived. Excludes restricted cash and partner member deposits.
restricted	June 2026 / H1	65.01	reported. Reported consolidated amount, converted from thousands to millions. Source · 2026-08-06
h1 buybacks	June 2026 / H1	222.07	reported. Reported consolidated amount, converted from thousands to millions. Source · 2026-08-06
Conditional Stride purchase price	Proposed H1 2027	590.00	reported. Cash consideration at closing, subject to required approvals; not current debt. Source · 2026-09-08

Downside scenario

Period	Operating cash flow proxy ($M)	PP&E and software cash ($M)	Revenue ($M)	Payments revenue ($M)	Platform revenue ($M)	Adjusted EBITDA proxy ($M)	Conditional Stride cash price ($M)	Loan purchases less repayments ($M)	Operating income proxy ($M)	Cash after loans and capex ($M)	Transaction profit proxy ($M)	Cash after conditional acquisition ($M)
2026Q3	8.68	10.00	655.65	418.50	237.15	22.68	0.00	49.00	-59.32	-50.32	450.41	-50.32
2026Q4	26.02	11.00	690.85	437.10	253.75	47.02	0.00	56.00	-39.98	-40.98	475.92	-40.98
2027Q1	47.86	12.00	734.70	446.40	288.30	75.86	0.00	63.00	-16.14	-27.14	506.54	-27.14
2027Q2	37.49	13.00	767.25	465.00	302.25	75.49	0.00	70.00	-21.51	-45.51	527.09	-45.51
FY2026	329.65	38.39	2,663.65	1,718.27	945.38	289.91	0.00	158.90	-31.82	132.36	1,909.33	132.36
FY2027	195.58	54.00	3,185.25	1,920.45	1,264.80	358.58	590.00	294.00	-39.42	-152.42	2,194.97	-742.42

Base scenario

Period	Operating cash flow proxy ($M)	PP&E and software cash ($M)	Revenue ($M)	Payments revenue ($M)	Platform revenue ($M)	Adjusted EBITDA proxy ($M)	Conditional Stride cash price ($M)	Loan purchases less repayments ($M)	Operating income proxy ($M)	Cash after loans and capex ($M)	Transaction profit proxy ($M)	Cash after conditional acquisition ($M)
2026Q3	104.50	10.00	705.00	450.00	255.00	118.50	0.00	35.00	36.50	59.50	518.25	59.50
2026Q4	125.28	11.00	742.85	470.00	272.84	146.28	0.00	40.00	59.28	74.28	547.13	74.28
2027Q1	152.00	12.00	790.00	480.00	310.00	180.00	0.00	45.00	88.00	95.00	582.50	95.00
2027Q2	147.00	13.00	825.00	500.00	325.00	185.00	590.00	50.00	88.00	84.00	607.05	-506.00
FY2026	524.74	38.39	2,765.00	1,782.67	982.33	485.00	0.00	128.90	163.27	357.45	2,048.38	357.45
FY2027	647.00	54.00	3,425.00	2,065.00	1,360.00	810.00	590.00	210.00	412.00	383.00	2,526.25	-207.00

Upside scenario

Period	Operating cash flow proxy ($M)	PP&E and software cash ($M)	Revenue ($M)	Payments revenue ($M)	Platform revenue ($M)	Adjusted EBITDA proxy ($M)	Conditional Stride cash price ($M)	Loan purchases less repayments ($M)	Operating income proxy ($M)	Cash after loans and capex ($M)	Transaction profit proxy ($M)	Cash after conditional acquisition ($M)
2026Q3	144.86	10.00	762.00	481.50	280.50	158.86	0.00	40.25	76.86	94.61	570.60	94.61
2026Q4	168.50	11.00	803.03	502.90	300.13	189.50	0.00	46.00	102.50	111.50	602.38	111.50
2027Q1	199.31	12.00	854.60	513.60	341.00	227.31	590.00	51.75	135.31	135.56	641.88	-454.44
2027Q2	196.51	13.00	892.50	535.00	357.50	234.51	0.00	57.50	137.51	126.01	669.23	126.01
FY2026	608.32	38.39	2,882.18	1,847.07	1,035.11	568.58	0.00	140.15	246.85	429.78	2,155.97	429.78
FY2027	854.02	54.00	3,705.55	2,209.55	1,496.00	1,017.02	590.00	241.50	619.02	558.52	2,784.76	-31.48

All inputs and formulas — reproduce this model

Input / calculation	Period / case	Value / unit	Evidence or assumption
Reported revenue h1_revenue	H1 2026 / shared	1,317.15 USD_millions	reported: Reported consolidated amount, converted from thousands to millions. Primary source · 2026-08-06
Reported payments h1_payments	H1 2026 / shared	862.67 USD_millions	reported: Reported consolidated amount, converted from thousands to millions. Primary source · 2026-08-06
Reported platform h1_platform	H1 2026 / shared	454.48 USD_millions	reported: Reported consolidated amount, converted from thousands to millions. Primary source · 2026-08-06
Reported transaction profit h1_transaction_profit	H1 2026 / shared	982.99 USD_millions	reported: Reported consolidated amount, converted from thousands to millions. Primary source · 2026-08-06
Reported adj ebitda h1_adj_ebitda	H1 2026 / shared	220.22 USD_millions	reported: Reported consolidated amount, converted from thousands to millions. Primary source · 2026-08-06
Reported operating income h1_operating_income	H1 2026 / shared	67.48 USD_millions	reported: Reported consolidated amount, converted from thousands to millions. Primary source · 2026-08-06
Reported cfo h1_cfo	H1 2026 / shared	294.96 USD_millions	reported: Reported consolidated amount, converted from thousands to millions. Primary source · 2026-08-06
Reported net loan funding h1_net_loan_funding	H1 2026 / shared	53.90 USD_millions	reported: Reported consolidated amount, converted from thousands to millions. Primary source · 2026-08-06
Reported capex h1_capex	H1 2026 / shared	17.39 USD_millions	reported: Reported consolidated amount, converted from thousands to millions. Primary source · 2026-08-06
Loans and assets h1_funding_uses	H1 2026 / shared	71.29 USD_millions	derived: Net loan funding is investing cash use. Formula: sum(h1_net_loan_funding, h1_capex).
H1 cash after loan investment and assets h1_cash_after_funding	H1 2026 / shared	223.67 USD_millions	derived: No deduction for discretionary stock repurchases. Formula: subtract(h1_cfo, h1_funding_uses).
H1 Stride acquisition cash h1_acquisition_cash	H1 2026 / shared	0.00 USD_millions	reported: The agreement was announced September 8; no Stride closing in H1. Primary source · 2026-09-08
H1 cash after claims h1_cash_after_acquisition	H1 2026 / shared	223.67 USD_millions	derived: Before buybacks. Formula: subtract(h1_cash_after_funding, h1_acquisition_cash).
cash cash	June 2026 / H1 / shared	536.04 USD_millions	reported: Reported consolidated amount, converted from thousands to millions. Primary source · 2026-08-06
marketable securities marketable_securities	June 2026 / H1 / shared	527.38 USD_millions	reported: Reported consolidated amount, converted from thousands to millions. Primary source · 2026-08-06
restricted restricted	June 2026 / H1 / shared	65.01 USD_millions	reported: Reported consolidated amount, converted from thousands to millions. Primary source · 2026-08-06
h1 buybacks h1_buybacks	June 2026 / H1 / shared	222.07 USD_millions	reported: Reported consolidated amount, converted from thousands to millions. Primary source · 2026-08-06
q2 platform q2_platform	June 2026 / H1 / shared	239.74 USD_millions	reported: Reported consolidated amount, converted from thousands to millions. Primary source · 2026-08-05
q2 payment volume q2_payment_volume	June 2026 / H1 / shared	38,000.00 USD_millions	reported: Reported consolidated amount, converted from thousands to millions. Primary source · 2026-08-05
q2 payments q2_payments	June 2026 / H1 / shared	430.03 USD_millions	reported: Reported consolidated amount, converted from thousands to millions. Primary source · 2026-08-05
q2 mypay originations q2_mypay_originations	June 2026 / H1 / shared	4,500.00 USD_millions	reported: Reported consolidated amount, converted from thousands to millions. Primary source · 2026-08-05
Conditional Stride purchase price stride_price	Proposed H1 2027 / shared	590.00 USD_millions	reported: Cash consideration at closing, subject to required approvals; not current debt. Primary source · 2026-09-08
Cash plus marketable securities liquidity	June 30, 2026 / shared	1,063.42 USD_millions	derived: Excludes restricted cash and partner member deposits. Formula: sum(cash, marketable_securities).
Revised Q3 revenue outlook low q3_revenue_guide_low	2026Q3 / shared	705.00 USD_millions	management guidance: Company guidance; not a desk forecast. Primary source · 2026-09-08
Revised Q3 revenue outlook high q3_revenue_guide_high	2026Q3 / shared	705.00 USD_millions	management guidance: Company guidance; not a desk forecast. Primary source · 2026-09-08
Midpoint divisor two	Model / shared	200.0% ratio	assumption: Arithmetic constant.
Revised Q3 revenue outlook endpoint sum q3_revenue_guide_sum	2026Q3 / shared	1,410.00 USD_millions	derived: Arithmetic intermediate. Formula: sum(q3_revenue_guide_low, q3_revenue_guide_high).
Revised Q3 revenue outlook midpoint q3_revenue_guide	2026Q3 / shared	705.00 USD_millions	derived: Calculated midpoint of the company range; not an additional company forecast. Formula: divide(q3_revenue_guide_sum, two).
Revised FY2026 revenue outlook low fy26_revenue_guide_low	FY2026 / shared	2,760.00 USD_millions	management guidance: Company guidance; not a desk forecast. Primary source · 2026-09-08
Revised FY2026 revenue outlook high fy26_revenue_guide_high	FY2026 / shared	2,770.00 USD_millions	management guidance: Company guidance; not a desk forecast. Primary source · 2026-09-08
Revised FY2026 revenue outlook endpoint sum fy26_revenue_guide_sum	FY2026 / shared	5,530.00 USD_millions	derived: Arithmetic intermediate. Formula: sum(fy26_revenue_guide_low, fy26_revenue_guide_high).
Revised FY2026 revenue outlook midpoint fy26_revenue_guide	FY2026 / shared	2,765.00 USD_millions	derived: Calculated midpoint of the company range; not an additional company forecast. Formula: divide(fy26_revenue_guide_sum, two).
Revised FY2026 adjusted EBITDA low fy26_ebitda_guide_low	FY2026 / shared	481.00 USD_millions	management guidance: Company guidance; not a desk forecast. Primary source · 2026-09-08
Revised FY2026 adjusted EBITDA high fy26_ebitda_guide_high	FY2026 / shared	489.00 USD_millions	management guidance: Company guidance; not a desk forecast. Primary source · 2026-09-08
Revised FY2026 adjusted EBITDA endpoint sum fy26_ebitda_guide_sum	FY2026 / shared	970.00 USD_millions	derived: Arithmetic intermediate. Formula: sum(fy26_ebitda_guide_low, fy26_ebitda_guide_high).
Revised FY2026 adjusted EBITDA midpoint fy26_ebitda_guide	FY2026 / shared	485.00 USD_millions	derived: Calculated midpoint of the company range; not an additional company forecast. Formula: divide(fy26_ebitda_guide_sum, two).
Purchase volume downside_2026q3_purchase_volume	2026Q3 / downside	37,200.00 USD_millions	assumption: Desk assumption; not company guidance.
Net payments yield downside_2026q3_payment_yield	2026Q3 / downside	1.1% ratio	assumption: Desk assumption; not company guidance.
Payments revenue downside_2026q3_payments	2026Q3 / downside	418.50 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(downside_2026q3_purchase_volume, downside_2026q3_payment_yield).
Active-member exposure index downside_2026q3_member_index	2026Q3 / downside	102.5% ratio	assumption: Desk assumption; not company guidance.
Platform monetization index downside_2026q3_platform_monetization	2026Q3 / downside	96.5% ratio	assumption: Desk assumption; not company guidance.
Platform revenue downside_2026q3_platform	2026Q3 / downside	237.15 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(q2_platform, downside_2026q3_member_index, downside_2026q3_platform_monetization).
Revenue downside_2026q3_revenue	2026Q3 / downside	655.65 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(downside_2026q3_payments, downside_2026q3_platform).
Gross margin downside_2026q3_gross_margin	2026Q3 / downside	89.0% ratio	assumption: Desk assumption; not company guidance.
Gross profit after processing downside_2026q3_gross_profit	2026Q3 / downside	583.53 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(downside_2026q3_revenue, downside_2026q3_gross_margin).
MyPay origination activity downside_2026q3_mypay_originations	2026Q3 / downside	4,464.00 USD_millions	assumption: Desk assumption; not company guidance.
MyPay loss rate downside_2026q3_mypay_loss_rate	2026Q3 / downside	1.4% ratio	assumption: Desk assumption; not company guidance.
MyPay loss allowance downside_2026q3_mypay_losses	2026Q3 / downside	62.50 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(downside_2026q3_mypay_originations, downside_2026q3_mypay_loss_rate).
Other lending, dispute and risk cost downside_2026q3_other_risk	2026Q3 / downside	70.62 USD_millions	assumption: Desk assumption; not company guidance.
Transaction and risk loss allowance downside_2026q3_risk	2026Q3 / downside	133.12 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(downside_2026q3_mypay_losses, downside_2026q3_other_risk).
Transaction profit downside_2026q3_transaction_profit	2026Q3 / downside	450.41 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(downside_2026q3_gross_profit, downside_2026q3_risk).
Adjusted product, sales and corporate cost downside_2026q3_adjusted_costs	2026Q3 / downside	427.73 USD_millions	assumption: Desk assumption; not company guidance.
Adjusted EBITDA proxy downside_2026q3_adj_ebitda	2026Q3 / downside	22.68 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(downside_2026q3_transaction_profit, downside_2026q3_adjusted_costs).
Total SBC and stock charitable cost downside_2026q3_sbc	2026Q3 / downside	72.00 USD_millions	assumption: Desk assumption; not company guidance.
Total D&A downside_2026q3_da	2026Q3 / downside	8.00 USD_millions	assumption: Desk assumption; not company guidance.
Cash costs excluded from adjusted EBITDA downside_2026q3_cash_adjustments	2026Q3 / downside	2.00 USD_millions	assumption: Desk assumption; not company guidance.
SBC D&A and cash excluded costs downside_2026q3_gaap_adjustments	2026Q3 / downside	82.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(downside_2026q3_sbc, downside_2026q3_da, downside_2026q3_cash_adjustments).
Operating income proxy downside_2026q3_operating_income	2026Q3 / downside	-59.32 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(downside_2026q3_adj_ebitda, downside_2026q3_gaap_adjustments).
Cash interest income downside_2026q3_interest_income	2026Q3 / downside	8.00 USD_millions	assumption: Desk assumption; not company guidance.
Adjusted EBITDA plus cash interest income downside_2026q3_cash_earnings	2026Q3 / downside	30.68 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(downside_2026q3_adj_ebitda, downside_2026q3_interest_income).
Cash interest and taxes downside_2026q3_cash_interest_tax	2026Q3 / downside	5.00 USD_millions	assumption: Desk assumption; not company guidance.
Product collateral and net operating working-capital use downside_2026q3_wc	2026Q3 / downside	15.00 USD_millions	assumption: Desk assumption; not company guidance.
Cash adjustments taxes interest and working capital downside_2026q3_cash_uses	2026Q3 / downside	22.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(downside_2026q3_cash_adjustments, downside_2026q3_cash_interest_tax, downside_2026q3_wc).
Operating cash flow proxy downside_2026q3_cfo	2026Q3 / downside	8.68 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(downside_2026q3_cash_earnings, downside_2026q3_cash_uses).
Loans purchased less repayments downside_2026q3_net_loan_funding	2026Q3 / downside	49.00 USD_millions	assumption: Desk assumption; not company guidance.
PP&E and purchased/internal software cash downside_2026q3_capex	2026Q3 / downside	10.00 USD_millions	assumption: Desk assumption; not company guidance.
Loans and assets downside_2026q3_investment	2026Q3 / downside	59.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(downside_2026q3_net_loan_funding, downside_2026q3_capex).
Cash after loan funding and assets downside_2026q3_cash_after_funding	2026Q3 / downside	-50.32 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(downside_2026q3_cfo, downside_2026q3_investment).
Stride closing switch downside_2026q3_stride_closing	2026Q3 / downside	0.0% ratio	assumption: Conditional quarter placement; expected H1 2027, downside assumes delay. No acquired operations or synergy booked.
Conditional Stride purchase cash downside_2026q3_acquisition_cash	2026Q3 / downside	0.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(stride_price, downside_2026q3_stride_closing).
Cash after proposed bank purchase downside_2026q3_cash_after_acquisition	2026Q3 / downside	-50.32 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(downside_2026q3_cash_after_funding, downside_2026q3_acquisition_cash).
Purchase volume downside_2026q4_purchase_volume	2026Q4 / downside	39,060.00 USD_millions	assumption: Desk assumption; not company guidance.
Net payments yield downside_2026q4_payment_yield	2026Q4 / downside	1.1% ratio	assumption: Desk assumption; not company guidance.
Payments revenue downside_2026q4_payments	2026Q4 / downside	437.10 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(downside_2026q4_purchase_volume, downside_2026q4_payment_yield).
Active-member exposure index downside_2026q4_member_index	2026Q4 / downside	105.0% ratio	assumption: Desk assumption; not company guidance.
Platform monetization index downside_2026q4_platform_monetization	2026Q4 / downside	100.8% ratio	assumption: Desk assumption; not company guidance.
Platform revenue downside_2026q4_platform	2026Q4 / downside	253.75 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(q2_platform, downside_2026q4_member_index, downside_2026q4_platform_monetization).
Revenue downside_2026q4_revenue	2026Q4 / downside	690.85 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(downside_2026q4_payments, downside_2026q4_platform).
Gross margin downside_2026q4_gross_margin	2026Q4 / downside	89.0% ratio	assumption: Desk assumption; not company guidance.
Gross profit after processing downside_2026q4_gross_profit	2026Q4 / downside	614.85 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(downside_2026q4_revenue, downside_2026q4_gross_margin).
MyPay origination activity downside_2026q4_mypay_originations	2026Q4 / downside	4,650.00 USD_millions	assumption: Desk assumption; not company guidance.
MyPay loss rate downside_2026q4_mypay_loss_rate	2026Q4 / downside	1.4% ratio	assumption: Desk assumption; not company guidance.
MyPay loss allowance downside_2026q4_mypay_losses	2026Q4 / downside	65.10 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(downside_2026q4_mypay_originations, downside_2026q4_mypay_loss_rate).
Other lending, dispute and risk cost downside_2026q4_other_risk	2026Q4 / downside	73.83 USD_millions	assumption: Desk assumption; not company guidance.
Transaction and risk loss allowance downside_2026q4_risk	2026Q4 / downside	138.93 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(downside_2026q4_mypay_losses, downside_2026q4_other_risk).
Transaction profit downside_2026q4_transaction_profit	2026Q4 / downside	475.92 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(downside_2026q4_gross_profit, downside_2026q4_risk).
Adjusted product, sales and corporate cost downside_2026q4_adjusted_costs	2026Q4 / downside	428.91 USD_millions	assumption: Desk assumption; not company guidance.
Adjusted EBITDA proxy downside_2026q4_adj_ebitda	2026Q4 / downside	47.02 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(downside_2026q4_transaction_profit, downside_2026q4_adjusted_costs).
Total SBC and stock charitable cost downside_2026q4_sbc	2026Q4 / downside	76.00 USD_millions	assumption: Desk assumption; not company guidance.
Total D&A downside_2026q4_da	2026Q4 / downside	9.00 USD_millions	assumption: Desk assumption; not company guidance.
Cash costs excluded from adjusted EBITDA downside_2026q4_cash_adjustments	2026Q4 / downside	2.00 USD_millions	assumption: Desk assumption; not company guidance.
SBC D&A and cash excluded costs downside_2026q4_gaap_adjustments	2026Q4 / downside	87.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(downside_2026q4_sbc, downside_2026q4_da, downside_2026q4_cash_adjustments).
Operating income proxy downside_2026q4_operating_income	2026Q4 / downside	-39.98 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(downside_2026q4_adj_ebitda, downside_2026q4_gaap_adjustments).
Cash interest income downside_2026q4_interest_income	2026Q4 / downside	8.00 USD_millions	assumption: Desk assumption; not company guidance.
Adjusted EBITDA plus cash interest income downside_2026q4_cash_earnings	2026Q4 / downside	55.02 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(downside_2026q4_adj_ebitda, downside_2026q4_interest_income).
Cash interest and taxes downside_2026q4_cash_interest_tax	2026Q4 / downside	7.00 USD_millions	assumption: Desk assumption; not company guidance.
Product collateral and net operating working-capital use downside_2026q4_wc	2026Q4 / downside	20.00 USD_millions	assumption: Desk assumption; not company guidance.
Cash adjustments taxes interest and working capital downside_2026q4_cash_uses	2026Q4 / downside	29.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(downside_2026q4_cash_adjustments, downside_2026q4_cash_interest_tax, downside_2026q4_wc).
Operating cash flow proxy downside_2026q4_cfo	2026Q4 / downside	26.02 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(downside_2026q4_cash_earnings, downside_2026q4_cash_uses).
Loans purchased less repayments downside_2026q4_net_loan_funding	2026Q4 / downside	56.00 USD_millions	assumption: Desk assumption; not company guidance.
PP&E and purchased/internal software cash downside_2026q4_capex	2026Q4 / downside	11.00 USD_millions	assumption: Desk assumption; not company guidance.
Loans and assets downside_2026q4_investment	2026Q4 / downside	67.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(downside_2026q4_net_loan_funding, downside_2026q4_capex).
Cash after loan funding and assets downside_2026q4_cash_after_funding	2026Q4 / downside	-40.98 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(downside_2026q4_cfo, downside_2026q4_investment).
Stride closing switch downside_2026q4_stride_closing	2026Q4 / downside	0.0% ratio	assumption: Conditional quarter placement; expected H1 2027, downside assumes delay. No acquired operations or synergy booked.
Conditional Stride purchase cash downside_2026q4_acquisition_cash	2026Q4 / downside	0.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(stride_price, downside_2026q4_stride_closing).
Cash after proposed bank purchase downside_2026q4_cash_after_acquisition	2026Q4 / downside	-40.98 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(downside_2026q4_cash_after_funding, downside_2026q4_acquisition_cash).
Purchase volume downside_2027q1_purchase_volume	2027Q1 / downside	39,525.00 USD_millions	assumption: Desk assumption; not company guidance.
Net payments yield downside_2027q1_payment_yield	2027Q1 / downside	1.1% ratio	assumption: Desk assumption; not company guidance.
Payments revenue downside_2027q1_payments	2027Q1 / downside	446.40 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(downside_2027q1_purchase_volume, downside_2027q1_payment_yield).
Active-member exposure index downside_2027q1_member_index	2027Q1 / downside	107.5% ratio	assumption: Desk assumption; not company guidance.
Platform monetization index downside_2027q1_platform_monetization	2027Q1 / downside	111.9% ratio	assumption: Desk assumption; not company guidance.
Platform revenue downside_2027q1_platform	2027Q1 / downside	288.30 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(q2_platform, downside_2027q1_member_index, downside_2027q1_platform_monetization).
Revenue downside_2027q1_revenue	2027Q1 / downside	734.70 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(downside_2027q1_payments, downside_2027q1_platform).
Gross margin downside_2027q1_gross_margin	2027Q1 / downside	89.0% ratio	assumption: Desk assumption; not company guidance.
Gross profit after processing downside_2027q1_gross_profit	2027Q1 / downside	653.88 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(downside_2027q1_revenue, downside_2027q1_gross_margin).
MyPay origination activity downside_2027q1_mypay_originations	2027Q1 / downside	5,022.00 USD_millions	assumption: Desk assumption; not company guidance.
MyPay loss rate downside_2027q1_mypay_loss_rate	2027Q1 / downside	1.4% ratio	assumption: Desk assumption; not company guidance.
MyPay loss allowance downside_2027q1_mypay_losses	2027Q1 / downside	70.31 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(downside_2027q1_mypay_originations, downside_2027q1_mypay_loss_rate).
Other lending, dispute and risk cost downside_2027q1_other_risk	2027Q1 / downside	77.04 USD_millions	assumption: Desk assumption; not company guidance.
Transaction and risk loss allowance downside_2027q1_risk	2027Q1 / downside	147.35 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(downside_2027q1_mypay_losses, downside_2027q1_other_risk).
Transaction profit downside_2027q1_transaction_profit	2027Q1 / downside	506.54 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(downside_2027q1_gross_profit, downside_2027q1_risk).
Adjusted product, sales and corporate cost downside_2027q1_adjusted_costs	2027Q1 / downside	430.68 USD_millions	assumption: Desk assumption; not company guidance.
Adjusted EBITDA proxy downside_2027q1_adj_ebitda	2027Q1 / downside	75.86 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(downside_2027q1_transaction_profit, downside_2027q1_adjusted_costs).
Total SBC and stock charitable cost downside_2027q1_sbc	2027Q1 / downside	80.00 USD_millions	assumption: Desk assumption; not company guidance.
Total D&A downside_2027q1_da	2027Q1 / downside	10.00 USD_millions	assumption: Desk assumption; not company guidance.
Cash costs excluded from adjusted EBITDA downside_2027q1_cash_adjustments	2027Q1 / downside	2.00 USD_millions	assumption: Desk assumption; not company guidance.
SBC D&A and cash excluded costs downside_2027q1_gaap_adjustments	2027Q1 / downside	92.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(downside_2027q1_sbc, downside_2027q1_da, downside_2027q1_cash_adjustments).
Operating income proxy downside_2027q1_operating_income	2027Q1 / downside	-16.14 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(downside_2027q1_adj_ebitda, downside_2027q1_gaap_adjustments).
Cash interest income downside_2027q1_interest_income	2027Q1 / downside	8.00 USD_millions	assumption: Desk assumption; not company guidance.
Adjusted EBITDA plus cash interest income downside_2027q1_cash_earnings	2027Q1 / downside	83.86 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(downside_2027q1_adj_ebitda, downside_2027q1_interest_income).
Cash interest and taxes downside_2027q1_cash_interest_tax	2027Q1 / downside	9.00 USD_millions	assumption: Desk assumption; not company guidance.
Product collateral and net operating working-capital use downside_2027q1_wc	2027Q1 / downside	25.00 USD_millions	assumption: Desk assumption; not company guidance.
Cash adjustments taxes interest and working capital downside_2027q1_cash_uses	2027Q1 / downside	36.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(downside_2027q1_cash_adjustments, downside_2027q1_cash_interest_tax, downside_2027q1_wc).
Operating cash flow proxy downside_2027q1_cfo	2027Q1 / downside	47.86 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(downside_2027q1_cash_earnings, downside_2027q1_cash_uses).
Loans purchased less repayments downside_2027q1_net_loan_funding	2027Q1 / downside	63.00 USD_millions	assumption: Desk assumption; not company guidance.
PP&E and purchased/internal software cash downside_2027q1_capex	2027Q1 / downside	12.00 USD_millions	assumption: Desk assumption; not company guidance.
Loans and assets downside_2027q1_investment	2027Q1 / downside	75.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(downside_2027q1_net_loan_funding, downside_2027q1_capex).
Cash after loan funding and assets downside_2027q1_cash_after_funding	2027Q1 / downside	-27.14 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(downside_2027q1_cfo, downside_2027q1_investment).
Stride closing switch downside_2027q1_stride_closing	2027Q1 / downside	0.0% ratio	assumption: Conditional quarter placement; expected H1 2027, downside assumes delay. No acquired operations or synergy booked.
Conditional Stride purchase cash downside_2027q1_acquisition_cash	2027Q1 / downside	0.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(stride_price, downside_2027q1_stride_closing).
Cash after proposed bank purchase downside_2027q1_cash_after_acquisition	2027Q1 / downside	-27.14 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(downside_2027q1_cash_after_funding, downside_2027q1_acquisition_cash).
Purchase volume downside_2027q2_purchase_volume	2027Q2 / downside	40,920.00 USD_millions	assumption: Desk assumption; not company guidance.
Net payments yield downside_2027q2_payment_yield	2027Q2 / downside	1.1% ratio	assumption: Desk assumption; not company guidance.
Payments revenue downside_2027q2_payments	2027Q2 / downside	465.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(downside_2027q2_purchase_volume, downside_2027q2_payment_yield).
Active-member exposure index downside_2027q2_member_index	2027Q2 / downside	110.0% ratio	assumption: Desk assumption; not company guidance.
Platform monetization index downside_2027q2_platform_monetization	2027Q2 / downside	114.6% ratio	assumption: Desk assumption; not company guidance.
Platform revenue downside_2027q2_platform	2027Q2 / downside	302.25 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(q2_platform, downside_2027q2_member_index, downside_2027q2_platform_monetization).
Revenue downside_2027q2_revenue	2027Q2 / downside	767.25 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(downside_2027q2_payments, downside_2027q2_platform).
Gross margin downside_2027q2_gross_margin	2027Q2 / downside	89.0% ratio	assumption: Desk assumption; not company guidance.
Gross profit after processing downside_2027q2_gross_profit	2027Q2 / downside	682.85 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(downside_2027q2_revenue, downside_2027q2_gross_margin).
MyPay origination activity downside_2027q2_mypay_originations	2027Q2 / downside	5,394.00 USD_millions	assumption: Desk assumption; not company guidance.
MyPay loss rate downside_2027q2_mypay_loss_rate	2027Q2 / downside	1.4% ratio	assumption: Desk assumption; not company guidance.
MyPay loss allowance downside_2027q2_mypay_losses	2027Q2 / downside	75.52 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(downside_2027q2_mypay_originations, downside_2027q2_mypay_loss_rate).
Other lending, dispute and risk cost downside_2027q2_other_risk	2027Q2 / downside	80.25 USD_millions	assumption: Desk assumption; not company guidance.
Transaction and risk loss allowance downside_2027q2_risk	2027Q2 / downside	155.77 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(downside_2027q2_mypay_losses, downside_2027q2_other_risk).
Transaction profit downside_2027q2_transaction_profit	2027Q2 / downside	527.09 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(downside_2027q2_gross_profit, downside_2027q2_risk).
Adjusted product, sales and corporate cost downside_2027q2_adjusted_costs	2027Q2 / downside	451.59 USD_millions	assumption: Desk assumption; not company guidance.
Adjusted EBITDA proxy downside_2027q2_adj_ebitda	2027Q2 / downside	75.49 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(downside_2027q2_transaction_profit, downside_2027q2_adjusted_costs).
Total SBC and stock charitable cost downside_2027q2_sbc	2027Q2 / downside	84.00 USD_millions	assumption: Desk assumption; not company guidance.
Total D&A downside_2027q2_da	2027Q2 / downside	11.00 USD_millions	assumption: Desk assumption; not company guidance.
Cash costs excluded from adjusted EBITDA downside_2027q2_cash_adjustments	2027Q2 / downside	2.00 USD_millions	assumption: Desk assumption; not company guidance.
SBC D&A and cash excluded costs downside_2027q2_gaap_adjustments	2027Q2 / downside	97.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(downside_2027q2_sbc, downside_2027q2_da, downside_2027q2_cash_adjustments).
Operating income proxy downside_2027q2_operating_income	2027Q2 / downside	-21.51 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(downside_2027q2_adj_ebitda, downside_2027q2_gaap_adjustments).
Cash interest income downside_2027q2_interest_income	2027Q2 / downside	5.00 USD_millions	assumption: Desk assumption; not company guidance.
Adjusted EBITDA plus cash interest income downside_2027q2_cash_earnings	2027Q2 / downside	80.49 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(downside_2027q2_adj_ebitda, downside_2027q2_interest_income).
Cash interest and taxes downside_2027q2_cash_interest_tax	2027Q2 / downside	11.00 USD_millions	assumption: Desk assumption; not company guidance.
Product collateral and net operating working-capital use downside_2027q2_wc	2027Q2 / downside	30.00 USD_millions	assumption: Desk assumption; not company guidance.
Cash adjustments taxes interest and working capital downside_2027q2_cash_uses	2027Q2 / downside	43.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(downside_2027q2_cash_adjustments, downside_2027q2_cash_interest_tax, downside_2027q2_wc).
Operating cash flow proxy downside_2027q2_cfo	2027Q2 / downside	37.49 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(downside_2027q2_cash_earnings, downside_2027q2_cash_uses).
Loans purchased less repayments downside_2027q2_net_loan_funding	2027Q2 / downside	70.00 USD_millions	assumption: Desk assumption; not company guidance.
PP&E and purchased/internal software cash downside_2027q2_capex	2027Q2 / downside	13.00 USD_millions	assumption: Desk assumption; not company guidance.
Loans and assets downside_2027q2_investment	2027Q2 / downside	83.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(downside_2027q2_net_loan_funding, downside_2027q2_capex).
Cash after loan funding and assets downside_2027q2_cash_after_funding	2027Q2 / downside	-45.51 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(downside_2027q2_cfo, downside_2027q2_investment).
Stride closing switch downside_2027q2_stride_closing	2027Q2 / downside	0.0% ratio	assumption: Conditional quarter placement; expected H1 2027, downside assumes delay. No acquired operations or synergy booked.
Conditional Stride purchase cash downside_2027q2_acquisition_cash	2027Q2 / downside	0.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(stride_price, downside_2027q2_stride_closing).
Cash after proposed bank purchase downside_2027q2_cash_after_acquisition	2027Q2 / downside	-45.51 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(downside_2027q2_cash_after_funding, downside_2027q2_acquisition_cash).
Purchase volume downside_2027q3_purchase_volume	2027Q3 / downside	43,245.00 USD_millions	assumption: Desk assumption; not company guidance.
Net payments yield downside_2027q3_payment_yield	2027Q3 / downside	1.1% ratio	assumption: Desk assumption; not company guidance.
Payments revenue downside_2027q3_payments	2027Q3 / downside	492.90 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(downside_2027q3_purchase_volume, downside_2027q3_payment_yield).
Active-member exposure index downside_2027q3_member_index	2027Q3 / downside	112.5% ratio	assumption: Desk assumption; not company guidance.
Platform monetization index downside_2027q3_platform_monetization	2027Q3 / downside	120.7% ratio	assumption: Desk assumption; not company guidance.
Platform revenue downside_2027q3_platform	2027Q3 / downside	325.50 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(q2_platform, downside_2027q3_member_index, downside_2027q3_platform_monetization).
Revenue downside_2027q3_revenue	2027Q3 / downside	818.40 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(downside_2027q3_payments, downside_2027q3_platform).
Gross margin downside_2027q3_gross_margin	2027Q3 / downside	89.0% ratio	assumption: Desk assumption; not company guidance.
Gross profit after processing downside_2027q3_gross_profit	2027Q3 / downside	728.38 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(downside_2027q3_revenue, downside_2027q3_gross_margin).
MyPay origination activity downside_2027q3_mypay_originations	2027Q3 / downside	5,766.00 USD_millions	assumption: Desk assumption; not company guidance.
MyPay loss rate downside_2027q3_mypay_loss_rate	2027Q3 / downside	1.4% ratio	assumption: Desk assumption; not company guidance.
MyPay loss allowance downside_2027q3_mypay_losses	2027Q3 / downside	80.72 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(downside_2027q3_mypay_originations, downside_2027q3_mypay_loss_rate).
Other lending, dispute and risk cost downside_2027q3_other_risk	2027Q3 / downside	83.46 USD_millions	assumption: Desk assumption; not company guidance.
Transaction and risk loss allowance downside_2027q3_risk	2027Q3 / downside	164.18 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(downside_2027q3_mypay_losses, downside_2027q3_other_risk).
Transaction profit downside_2027q3_transaction_profit	2027Q3 / downside	564.19 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(downside_2027q3_gross_profit, downside_2027q3_risk).
Adjusted product, sales and corporate cost downside_2027q3_adjusted_costs	2027Q3 / downside	470.16 USD_millions	assumption: Desk assumption; not company guidance.
Adjusted EBITDA proxy downside_2027q3_adj_ebitda	2027Q3 / downside	94.03 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(downside_2027q3_transaction_profit, downside_2027q3_adjusted_costs).
Total SBC and stock charitable cost downside_2027q3_sbc	2027Q3 / downside	88.00 USD_millions	assumption: Desk assumption; not company guidance.
Total D&A downside_2027q3_da	2027Q3 / downside	12.00 USD_millions	assumption: Desk assumption; not company guidance.
Cash costs excluded from adjusted EBITDA downside_2027q3_cash_adjustments	2027Q3 / downside	2.00 USD_millions	assumption: Desk assumption; not company guidance.
SBC D&A and cash excluded costs downside_2027q3_gaap_adjustments	2027Q3 / downside	102.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(downside_2027q3_sbc, downside_2027q3_da, downside_2027q3_cash_adjustments).
Operating income proxy downside_2027q3_operating_income	2027Q3 / downside	-7.97 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(downside_2027q3_adj_ebitda, downside_2027q3_gaap_adjustments).
Cash interest income downside_2027q3_interest_income	2027Q3 / downside	5.00 USD_millions	assumption: Desk assumption; not company guidance.
Adjusted EBITDA plus cash interest income downside_2027q3_cash_earnings	2027Q3 / downside	99.03 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(downside_2027q3_adj_ebitda, downside_2027q3_interest_income).
Cash interest and taxes downside_2027q3_cash_interest_tax	2027Q3 / downside	13.00 USD_millions	assumption: Desk assumption; not company guidance.
Product collateral and net operating working-capital use downside_2027q3_wc	2027Q3 / downside	35.00 USD_millions	assumption: Desk assumption; not company guidance.
Cash adjustments taxes interest and working capital downside_2027q3_cash_uses	2027Q3 / downside	50.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(downside_2027q3_cash_adjustments, downside_2027q3_cash_interest_tax, downside_2027q3_wc).
Operating cash flow proxy downside_2027q3_cfo	2027Q3 / downside	49.03 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(downside_2027q3_cash_earnings, downside_2027q3_cash_uses).
Loans purchased less repayments downside_2027q3_net_loan_funding	2027Q3 / downside	77.00 USD_millions	assumption: Desk assumption; not company guidance.
PP&E and purchased/internal software cash downside_2027q3_capex	2027Q3 / downside	14.00 USD_millions	assumption: Desk assumption; not company guidance.
Loans and assets downside_2027q3_investment	2027Q3 / downside	91.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(downside_2027q3_net_loan_funding, downside_2027q3_capex).
Cash after loan funding and assets downside_2027q3_cash_after_funding	2027Q3 / downside	-41.97 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(downside_2027q3_cfo, downside_2027q3_investment).
Stride closing switch downside_2027q3_stride_closing	2027Q3 / downside	0.0% ratio	assumption: Conditional quarter placement; expected H1 2027, downside assumes delay. No acquired operations or synergy booked.
Conditional Stride purchase cash downside_2027q3_acquisition_cash	2027Q3 / downside	0.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(stride_price, downside_2027q3_stride_closing).
Cash after proposed bank purchase downside_2027q3_cash_after_acquisition	2027Q3 / downside	-41.97 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(downside_2027q3_cash_after_funding, downside_2027q3_acquisition_cash).
Purchase volume downside_2027q4_purchase_volume	2027Q4 / downside	45,105.00 USD_millions	assumption: Desk assumption; not company guidance.
Net payments yield downside_2027q4_payment_yield	2027Q4 / downside	1.1% ratio	assumption: Desk assumption; not company guidance.
Payments revenue downside_2027q4_payments	2027Q4 / downside	516.15 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(downside_2027q4_purchase_volume, downside_2027q4_payment_yield).
Active-member exposure index downside_2027q4_member_index	2027Q4 / downside	115.0% ratio	assumption: Desk assumption; not company guidance.
Platform monetization index downside_2027q4_platform_monetization	2027Q4 / downside	126.5% ratio	assumption: Desk assumption; not company guidance.
Platform revenue downside_2027q4_platform	2027Q4 / downside	348.75 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(q2_platform, downside_2027q4_member_index, downside_2027q4_platform_monetization).
Revenue downside_2027q4_revenue	2027Q4 / downside	864.90 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(downside_2027q4_payments, downside_2027q4_platform).
Gross margin downside_2027q4_gross_margin	2027Q4 / downside	89.0% ratio	assumption: Desk assumption; not company guidance.
Gross profit after processing downside_2027q4_gross_profit	2027Q4 / downside	769.76 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(downside_2027q4_revenue, downside_2027q4_gross_margin).
MyPay origination activity downside_2027q4_mypay_originations	2027Q4 / downside	6,138.00 USD_millions	assumption: Desk assumption; not company guidance.
MyPay loss rate downside_2027q4_mypay_loss_rate	2027Q4 / downside	1.4% ratio	assumption: Desk assumption; not company guidance.
MyPay loss allowance downside_2027q4_mypay_losses	2027Q4 / downside	85.93 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(downside_2027q4_mypay_originations, downside_2027q4_mypay_loss_rate).
Other lending, dispute and risk cost downside_2027q4_other_risk	2027Q4 / downside	86.67 USD_millions	assumption: Desk assumption; not company guidance.
Transaction and risk loss allowance downside_2027q4_risk	2027Q4 / downside	172.60 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(downside_2027q4_mypay_losses, downside_2027q4_other_risk).
Transaction profit downside_2027q4_transaction_profit	2027Q4 / downside	597.16 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(downside_2027q4_gross_profit, downside_2027q4_risk).
Adjusted product, sales and corporate cost downside_2027q4_adjusted_costs	2027Q4 / downside	483.96 USD_millions	assumption: Desk assumption; not company guidance.
Adjusted EBITDA proxy downside_2027q4_adj_ebitda	2027Q4 / downside	113.20 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(downside_2027q4_transaction_profit, downside_2027q4_adjusted_costs).
Total SBC and stock charitable cost downside_2027q4_sbc	2027Q4 / downside	92.00 USD_millions	assumption: Desk assumption; not company guidance.
Total D&A downside_2027q4_da	2027Q4 / downside	13.00 USD_millions	assumption: Desk assumption; not company guidance.
Cash costs excluded from adjusted EBITDA downside_2027q4_cash_adjustments	2027Q4 / downside	2.00 USD_millions	assumption: Desk assumption; not company guidance.
SBC D&A and cash excluded costs downside_2027q4_gaap_adjustments	2027Q4 / downside	107.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(downside_2027q4_sbc, downside_2027q4_da, downside_2027q4_cash_adjustments).
Operating income proxy downside_2027q4_operating_income	2027Q4 / downside	6.20 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(downside_2027q4_adj_ebitda, downside_2027q4_gaap_adjustments).
Cash interest income downside_2027q4_interest_income	2027Q4 / downside	5.00 USD_millions	assumption: Desk assumption; not company guidance.
Adjusted EBITDA plus cash interest income downside_2027q4_cash_earnings	2027Q4 / downside	118.20 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(downside_2027q4_adj_ebitda, downside_2027q4_interest_income).
Cash interest and taxes downside_2027q4_cash_interest_tax	2027Q4 / downside	15.00 USD_millions	assumption: Desk assumption; not company guidance.
Product collateral and net operating working-capital use downside_2027q4_wc	2027Q4 / downside	40.00 USD_millions	assumption: Desk assumption; not company guidance.
Cash adjustments taxes interest and working capital downside_2027q4_cash_uses	2027Q4 / downside	57.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(downside_2027q4_cash_adjustments, downside_2027q4_cash_interest_tax, downside_2027q4_wc).
Operating cash flow proxy downside_2027q4_cfo	2027Q4 / downside	61.20 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(downside_2027q4_cash_earnings, downside_2027q4_cash_uses).
Loans purchased less repayments downside_2027q4_net_loan_funding	2027Q4 / downside	84.00 USD_millions	assumption: Desk assumption; not company guidance.
PP&E and purchased/internal software cash downside_2027q4_capex	2027Q4 / downside	15.00 USD_millions	assumption: Desk assumption; not company guidance.
Loans and assets downside_2027q4_investment	2027Q4 / downside	99.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(downside_2027q4_net_loan_funding, downside_2027q4_capex).
Cash after loan funding and assets downside_2027q4_cash_after_funding	2027Q4 / downside	-37.80 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(downside_2027q4_cfo, downside_2027q4_investment).
Stride closing switch downside_2027q4_stride_closing	2027Q4 / downside	100.0% ratio	assumption: Conditional quarter placement; expected H1 2027, downside assumes delay. No acquired operations or synergy booked.
Conditional Stride purchase cash downside_2027q4_acquisition_cash	2027Q4 / downside	590.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(stride_price, downside_2027q4_stride_closing).
Cash after proposed bank purchase downside_2027q4_cash_after_acquisition	2027Q4 / downside	-627.80 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(downside_2027q4_cash_after_funding, downside_2027q4_acquisition_cash).
Revenue ($M) downside_fy2026_revenue	FY2026 / downside	2,663.65 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_revenue, downside_2026q3_revenue, downside_2026q4_revenue).
Payments revenue ($M) downside_fy2026_payments	FY2026 / downside	1,718.27 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_payments, downside_2026q3_payments, downside_2026q4_payments).
Platform revenue ($M) downside_fy2026_platform	FY2026 / downside	945.38 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_platform, downside_2026q3_platform, downside_2026q4_platform).
Transaction profit proxy ($M) downside_fy2026_transaction_profit	FY2026 / downside	1,909.33 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_transaction_profit, downside_2026q3_transaction_profit, downside_2026q4_transaction_profit).
Adjusted EBITDA proxy ($M) downside_fy2026_adj_ebitda	FY2026 / downside	289.91 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_adj_ebitda, downside_2026q3_adj_ebitda, downside_2026q4_adj_ebitda).
Operating income proxy ($M) downside_fy2026_operating_income	FY2026 / downside	-31.82 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_operating_income, downside_2026q3_operating_income, downside_2026q4_operating_income).
Operating cash flow proxy ($M) downside_fy2026_cfo	FY2026 / downside	329.65 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_cfo, downside_2026q3_cfo, downside_2026q4_cfo).
Loan purchases less repayments ($M) downside_fy2026_net_loan_funding	FY2026 / downside	158.90 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_net_loan_funding, downside_2026q3_net_loan_funding, downside_2026q4_net_loan_funding).
PP&E and software cash ($M) downside_fy2026_capex	FY2026 / downside	38.39 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_capex, downside_2026q3_capex, downside_2026q4_capex).
Cash after loans and capex ($M) downside_fy2026_cash_after_funding	FY2026 / downside	132.36 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_cash_after_funding, downside_2026q3_cash_after_funding, downside_2026q4_cash_after_funding).
Conditional Stride cash price ($M) downside_fy2026_acquisition_cash	FY2026 / downside	0.00 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_acquisition_cash, downside_2026q3_acquisition_cash, downside_2026q4_acquisition_cash).
Cash after conditional acquisition ($M) downside_fy2026_cash_after_acquisition	FY2026 / downside	132.36 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_cash_after_acquisition, downside_2026q3_cash_after_acquisition, downside_2026q4_cash_after_acquisition).
Revenue ($M) downside_fy2027_revenue	FY2027 / downside	3,185.25 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(downside_2027q1_revenue, downside_2027q2_revenue, downside_2027q3_revenue, downside_2027q4_revenue).
Payments revenue ($M) downside_fy2027_payments	FY2027 / downside	1,920.45 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(downside_2027q1_payments, downside_2027q2_payments, downside_2027q3_payments, downside_2027q4_payments).
Platform revenue ($M) downside_fy2027_platform	FY2027 / downside	1,264.80 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(downside_2027q1_platform, downside_2027q2_platform, downside_2027q3_platform, downside_2027q4_platform).
Transaction profit proxy ($M) downside_fy2027_transaction_profit	FY2027 / downside	2,194.97 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(downside_2027q1_transaction_profit, downside_2027q2_transaction_profit, downside_2027q3_transaction_profit, downside_2027q4_transaction_profit).
Adjusted EBITDA proxy ($M) downside_fy2027_adj_ebitda	FY2027 / downside	358.58 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(downside_2027q1_adj_ebitda, downside_2027q2_adj_ebitda, downside_2027q3_adj_ebitda, downside_2027q4_adj_ebitda).
Operating income proxy ($M) downside_fy2027_operating_income	FY2027 / downside	-39.42 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(downside_2027q1_operating_income, downside_2027q2_operating_income, downside_2027q3_operating_income, downside_2027q4_operating_income).
Operating cash flow proxy ($M) downside_fy2027_cfo	FY2027 / downside	195.58 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(downside_2027q1_cfo, downside_2027q2_cfo, downside_2027q3_cfo, downside_2027q4_cfo).
Loan purchases less repayments ($M) downside_fy2027_net_loan_funding	FY2027 / downside	294.00 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(downside_2027q1_net_loan_funding, downside_2027q2_net_loan_funding, downside_2027q3_net_loan_funding, downside_2027q4_net_loan_funding).
PP&E and software cash ($M) downside_fy2027_capex	FY2027 / downside	54.00 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(downside_2027q1_capex, downside_2027q2_capex, downside_2027q3_capex, downside_2027q4_capex).
Cash after loans and capex ($M) downside_fy2027_cash_after_funding	FY2027 / downside	-152.42 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(downside_2027q1_cash_after_funding, downside_2027q2_cash_after_funding, downside_2027q3_cash_after_funding, downside_2027q4_cash_after_funding).
Conditional Stride cash price ($M) downside_fy2027_acquisition_cash	FY2027 / downside	590.00 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(downside_2027q1_acquisition_cash, downside_2027q2_acquisition_cash, downside_2027q3_acquisition_cash, downside_2027q4_acquisition_cash).
Cash after conditional acquisition ($M) downside_fy2027_cash_after_acquisition	FY2027 / downside	-742.42 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(downside_2027q1_cash_after_acquisition, downside_2027q2_cash_after_acquisition, downside_2027q3_cash_after_acquisition, downside_2027q4_cash_after_acquisition).
Purchase volume base_2026q3_purchase_volume	2026Q3 / base	40,000.00 USD_millions	assumption: Desk assumption; not company guidance.
Net payments yield base_2026q3_payment_yield	2026Q3 / base	1.1% ratio	assumption: Desk assumption; not company guidance.
Payments revenue base_2026q3_payments	2026Q3 / base	450.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(base_2026q3_purchase_volume, base_2026q3_payment_yield).
Active-member exposure index base_2026q3_member_index	2026Q3 / base	102.5% ratio	assumption: Desk assumption; not company guidance.
Platform monetization index base_2026q3_platform_monetization	2026Q3 / base	103.8% ratio	assumption: Desk assumption; not company guidance.
Platform revenue base_2026q3_platform	2026Q3 / base	255.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(q2_platform, base_2026q3_member_index, base_2026q3_platform_monetization).
Revenue base_2026q3_revenue	2026Q3 / base	705.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(base_2026q3_payments, base_2026q3_platform).
Gross margin base_2026q3_gross_margin	2026Q3 / base	89.0% ratio	assumption: Desk assumption; not company guidance.
Gross profit after processing base_2026q3_gross_profit	2026Q3 / base	627.45 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(base_2026q3_revenue, base_2026q3_gross_margin).
MyPay origination activity base_2026q3_mypay_originations	2026Q3 / base	4,800.00 USD_millions	assumption: Desk assumption; not company guidance.
MyPay loss rate base_2026q3_mypay_loss_rate	2026Q3 / base	0.9% ratio	assumption: Desk assumption; not company guidance.
MyPay loss allowance base_2026q3_mypay_losses	2026Q3 / base	43.20 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(base_2026q3_mypay_originations, base_2026q3_mypay_loss_rate).
Other lending, dispute and risk cost base_2026q3_other_risk	2026Q3 / base	66.00 USD_millions	assumption: Desk assumption; not company guidance.
Transaction and risk loss allowance base_2026q3_risk	2026Q3 / base	109.20 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(base_2026q3_mypay_losses, base_2026q3_other_risk).
Transaction profit base_2026q3_transaction_profit	2026Q3 / base	518.25 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(base_2026q3_gross_profit, base_2026q3_risk).
Adjusted product, sales and corporate cost base_2026q3_adjusted_costs	2026Q3 / base	399.75 USD_millions	assumption: Desk assumption; not company guidance.
Adjusted EBITDA proxy base_2026q3_adj_ebitda	2026Q3 / base	118.50 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(base_2026q3_transaction_profit, base_2026q3_adjusted_costs).
Total SBC and stock charitable cost base_2026q3_sbc	2026Q3 / base	72.00 USD_millions	assumption: Desk assumption; not company guidance.
Total D&A base_2026q3_da	2026Q3 / base	8.00 USD_millions	assumption: Desk assumption; not company guidance.
Cash costs excluded from adjusted EBITDA base_2026q3_cash_adjustments	2026Q3 / base	2.00 USD_millions	assumption: Desk assumption; not company guidance.
SBC D&A and cash excluded costs base_2026q3_gaap_adjustments	2026Q3 / base	82.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(base_2026q3_sbc, base_2026q3_da, base_2026q3_cash_adjustments).
Operating income proxy base_2026q3_operating_income	2026Q3 / base	36.50 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(base_2026q3_adj_ebitda, base_2026q3_gaap_adjustments).
Cash interest income base_2026q3_interest_income	2026Q3 / base	8.00 USD_millions	assumption: Desk assumption; not company guidance.
Adjusted EBITDA plus cash interest income base_2026q3_cash_earnings	2026Q3 / base	126.50 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(base_2026q3_adj_ebitda, base_2026q3_interest_income).
Cash interest and taxes base_2026q3_cash_interest_tax	2026Q3 / base	5.00 USD_millions	assumption: Desk assumption; not company guidance.
Product collateral and net operating working-capital use base_2026q3_wc	2026Q3 / base	15.00 USD_millions	assumption: Desk assumption; not company guidance.
Cash adjustments taxes interest and working capital base_2026q3_cash_uses	2026Q3 / base	22.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(base_2026q3_cash_adjustments, base_2026q3_cash_interest_tax, base_2026q3_wc).
Operating cash flow proxy base_2026q3_cfo	2026Q3 / base	104.50 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(base_2026q3_cash_earnings, base_2026q3_cash_uses).
Loans purchased less repayments base_2026q3_net_loan_funding	2026Q3 / base	35.00 USD_millions	assumption: Desk assumption; not company guidance.
PP&E and purchased/internal software cash base_2026q3_capex	2026Q3 / base	10.00 USD_millions	assumption: Desk assumption; not company guidance.
Loans and assets base_2026q3_investment	2026Q3 / base	45.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(base_2026q3_net_loan_funding, base_2026q3_capex).
Cash after loan funding and assets base_2026q3_cash_after_funding	2026Q3 / base	59.50 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(base_2026q3_cfo, base_2026q3_investment).
Stride closing switch base_2026q3_stride_closing	2026Q3 / base	0.0% ratio	assumption: Conditional quarter placement; expected H1 2027, downside assumes delay. No acquired operations or synergy booked.
Conditional Stride purchase cash base_2026q3_acquisition_cash	2026Q3 / base	0.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(stride_price, base_2026q3_stride_closing).
Cash after proposed bank purchase base_2026q3_cash_after_acquisition	2026Q3 / base	59.50 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(base_2026q3_cash_after_funding, base_2026q3_acquisition_cash).
Purchase volume base_2026q4_purchase_volume	2026Q4 / base	42,000.00 USD_millions	assumption: Desk assumption; not company guidance.
Net payments yield base_2026q4_payment_yield	2026Q4 / base	1.1% ratio	assumption: Desk assumption; not company guidance.
Payments revenue base_2026q4_payments	2026Q4 / base	470.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(base_2026q4_purchase_volume, base_2026q4_payment_yield).
Active-member exposure index base_2026q4_member_index	2026Q4 / base	105.0% ratio	assumption: Desk assumption; not company guidance.
Platform monetization index base_2026q4_platform_monetization	2026Q4 / base	108.4% ratio	assumption: Desk assumption; not company guidance.
Platform revenue base_2026q4_platform	2026Q4 / base	272.84 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(q2_platform, base_2026q4_member_index, base_2026q4_platform_monetization).
Revenue base_2026q4_revenue	2026Q4 / base	742.85 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(base_2026q4_payments, base_2026q4_platform).
Gross margin base_2026q4_gross_margin	2026Q4 / base	89.0% ratio	assumption: Desk assumption; not company guidance.
Gross profit after processing base_2026q4_gross_profit	2026Q4 / base	661.13 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(base_2026q4_revenue, base_2026q4_gross_margin).
MyPay origination activity base_2026q4_mypay_originations	2026Q4 / base	5,000.00 USD_millions	assumption: Desk assumption; not company guidance.
MyPay loss rate base_2026q4_mypay_loss_rate	2026Q4 / base	0.9% ratio	assumption: Desk assumption; not company guidance.
MyPay loss allowance base_2026q4_mypay_losses	2026Q4 / base	45.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(base_2026q4_mypay_originations, base_2026q4_mypay_loss_rate).
Other lending, dispute and risk cost base_2026q4_other_risk	2026Q4 / base	69.00 USD_millions	assumption: Desk assumption; not company guidance.
Transaction and risk loss allowance base_2026q4_risk	2026Q4 / base	114.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(base_2026q4_mypay_losses, base_2026q4_other_risk).
Transaction profit base_2026q4_transaction_profit	2026Q4 / base	547.13 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(base_2026q4_gross_profit, base_2026q4_risk).
Adjusted product, sales and corporate cost base_2026q4_adjusted_costs	2026Q4 / base	400.85 USD_millions	assumption: Desk assumption; not company guidance.
Adjusted EBITDA proxy base_2026q4_adj_ebitda	2026Q4 / base	146.28 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(base_2026q4_transaction_profit, base_2026q4_adjusted_costs).
Total SBC and stock charitable cost base_2026q4_sbc	2026Q4 / base	76.00 USD_millions	assumption: Desk assumption; not company guidance.
Total D&A base_2026q4_da	2026Q4 / base	9.00 USD_millions	assumption: Desk assumption; not company guidance.
Cash costs excluded from adjusted EBITDA base_2026q4_cash_adjustments	2026Q4 / base	2.00 USD_millions	assumption: Desk assumption; not company guidance.
SBC D&A and cash excluded costs base_2026q4_gaap_adjustments	2026Q4 / base	87.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(base_2026q4_sbc, base_2026q4_da, base_2026q4_cash_adjustments).
Operating income proxy base_2026q4_operating_income	2026Q4 / base	59.28 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(base_2026q4_adj_ebitda, base_2026q4_gaap_adjustments).
Cash interest income base_2026q4_interest_income	2026Q4 / base	8.00 USD_millions	assumption: Desk assumption; not company guidance.
Adjusted EBITDA plus cash interest income base_2026q4_cash_earnings	2026Q4 / base	154.28 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(base_2026q4_adj_ebitda, base_2026q4_interest_income).
Cash interest and taxes base_2026q4_cash_interest_tax	2026Q4 / base	7.00 USD_millions	assumption: Desk assumption; not company guidance.
Product collateral and net operating working-capital use base_2026q4_wc	2026Q4 / base	20.00 USD_millions	assumption: Desk assumption; not company guidance.
Cash adjustments taxes interest and working capital base_2026q4_cash_uses	2026Q4 / base	29.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(base_2026q4_cash_adjustments, base_2026q4_cash_interest_tax, base_2026q4_wc).
Operating cash flow proxy base_2026q4_cfo	2026Q4 / base	125.28 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(base_2026q4_cash_earnings, base_2026q4_cash_uses).
Loans purchased less repayments base_2026q4_net_loan_funding	2026Q4 / base	40.00 USD_millions	assumption: Desk assumption; not company guidance.
PP&E and purchased/internal software cash base_2026q4_capex	2026Q4 / base	11.00 USD_millions	assumption: Desk assumption; not company guidance.
Loans and assets base_2026q4_investment	2026Q4 / base	51.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(base_2026q4_net_loan_funding, base_2026q4_capex).
Cash after loan funding and assets base_2026q4_cash_after_funding	2026Q4 / base	74.28 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(base_2026q4_cfo, base_2026q4_investment).
Stride closing switch base_2026q4_stride_closing	2026Q4 / base	0.0% ratio	assumption: Conditional quarter placement; expected H1 2027, downside assumes delay. No acquired operations or synergy booked.
Conditional Stride purchase cash base_2026q4_acquisition_cash	2026Q4 / base	0.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(stride_price, base_2026q4_stride_closing).
Cash after proposed bank purchase base_2026q4_cash_after_acquisition	2026Q4 / base	74.28 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(base_2026q4_cash_after_funding, base_2026q4_acquisition_cash).
Purchase volume base_2027q1_purchase_volume	2027Q1 / base	42,500.00 USD_millions	assumption: Desk assumption; not company guidance.
Net payments yield base_2027q1_payment_yield	2027Q1 / base	1.1% ratio	assumption: Desk assumption; not company guidance.
Payments revenue base_2027q1_payments	2027Q1 / base	480.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(base_2027q1_purchase_volume, base_2027q1_payment_yield).
Active-member exposure index base_2027q1_member_index	2027Q1 / base	107.5% ratio	assumption: Desk assumption; not company guidance.
Platform monetization index base_2027q1_platform_monetization	2027Q1 / base	120.3% ratio	assumption: Desk assumption; not company guidance.
Platform revenue base_2027q1_platform	2027Q1 / base	310.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(q2_platform, base_2027q1_member_index, base_2027q1_platform_monetization).
Revenue base_2027q1_revenue	2027Q1 / base	790.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(base_2027q1_payments, base_2027q1_platform).
Gross margin base_2027q1_gross_margin	2027Q1 / base	89.0% ratio	assumption: Desk assumption; not company guidance.
Gross profit after processing base_2027q1_gross_profit	2027Q1 / base	703.10 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(base_2027q1_revenue, base_2027q1_gross_margin).
MyPay origination activity base_2027q1_mypay_originations	2027Q1 / base	5,400.00 USD_millions	assumption: Desk assumption; not company guidance.
MyPay loss rate base_2027q1_mypay_loss_rate	2027Q1 / base	0.9% ratio	assumption: Desk assumption; not company guidance.
MyPay loss allowance base_2027q1_mypay_losses	2027Q1 / base	48.60 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(base_2027q1_mypay_originations, base_2027q1_mypay_loss_rate).
Other lending, dispute and risk cost base_2027q1_other_risk	2027Q1 / base	72.00 USD_millions	assumption: Desk assumption; not company guidance.
Transaction and risk loss allowance base_2027q1_risk	2027Q1 / base	120.60 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(base_2027q1_mypay_losses, base_2027q1_other_risk).
Transaction profit base_2027q1_transaction_profit	2027Q1 / base	582.50 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(base_2027q1_gross_profit, base_2027q1_risk).
Adjusted product, sales and corporate cost base_2027q1_adjusted_costs	2027Q1 / base	402.50 USD_millions	assumption: Desk assumption; not company guidance.
Adjusted EBITDA proxy base_2027q1_adj_ebitda	2027Q1 / base	180.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(base_2027q1_transaction_profit, base_2027q1_adjusted_costs).
Total SBC and stock charitable cost base_2027q1_sbc	2027Q1 / base	80.00 USD_millions	assumption: Desk assumption; not company guidance.
Total D&A base_2027q1_da	2027Q1 / base	10.00 USD_millions	assumption: Desk assumption; not company guidance.
Cash costs excluded from adjusted EBITDA base_2027q1_cash_adjustments	2027Q1 / base	2.00 USD_millions	assumption: Desk assumption; not company guidance.
SBC D&A and cash excluded costs base_2027q1_gaap_adjustments	2027Q1 / base	92.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(base_2027q1_sbc, base_2027q1_da, base_2027q1_cash_adjustments).
Operating income proxy base_2027q1_operating_income	2027Q1 / base	88.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(base_2027q1_adj_ebitda, base_2027q1_gaap_adjustments).
Cash interest income base_2027q1_interest_income	2027Q1 / base	8.00 USD_millions	assumption: Desk assumption; not company guidance.
Adjusted EBITDA plus cash interest income base_2027q1_cash_earnings	2027Q1 / base	188.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(base_2027q1_adj_ebitda, base_2027q1_interest_income).
Cash interest and taxes base_2027q1_cash_interest_tax	2027Q1 / base	9.00 USD_millions	assumption: Desk assumption; not company guidance.
Product collateral and net operating working-capital use base_2027q1_wc	2027Q1 / base	25.00 USD_millions	assumption: Desk assumption; not company guidance.
Cash adjustments taxes interest and working capital base_2027q1_cash_uses	2027Q1 / base	36.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(base_2027q1_cash_adjustments, base_2027q1_cash_interest_tax, base_2027q1_wc).
Operating cash flow proxy base_2027q1_cfo	2027Q1 / base	152.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(base_2027q1_cash_earnings, base_2027q1_cash_uses).
Loans purchased less repayments base_2027q1_net_loan_funding	2027Q1 / base	45.00 USD_millions	assumption: Desk assumption; not company guidance.
PP&E and purchased/internal software cash base_2027q1_capex	2027Q1 / base	12.00 USD_millions	assumption: Desk assumption; not company guidance.
Loans and assets base_2027q1_investment	2027Q1 / base	57.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(base_2027q1_net_loan_funding, base_2027q1_capex).
Cash after loan funding and assets base_2027q1_cash_after_funding	2027Q1 / base	95.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(base_2027q1_cfo, base_2027q1_investment).
Stride closing switch base_2027q1_stride_closing	2027Q1 / base	0.0% ratio	assumption: Conditional quarter placement; expected H1 2027, downside assumes delay. No acquired operations or synergy booked.
Conditional Stride purchase cash base_2027q1_acquisition_cash	2027Q1 / base	0.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(stride_price, base_2027q1_stride_closing).
Cash after proposed bank purchase base_2027q1_cash_after_acquisition	2027Q1 / base	95.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(base_2027q1_cash_after_funding, base_2027q1_acquisition_cash).
Purchase volume base_2027q2_purchase_volume	2027Q2 / base	44,000.00 USD_millions	assumption: Desk assumption; not company guidance.
Net payments yield base_2027q2_payment_yield	2027Q2 / base	1.1% ratio	assumption: Desk assumption; not company guidance.
Payments revenue base_2027q2_payments	2027Q2 / base	500.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(base_2027q2_purchase_volume, base_2027q2_payment_yield).
Active-member exposure index base_2027q2_member_index	2027Q2 / base	110.0% ratio	assumption: Desk assumption; not company guidance.
Platform monetization index base_2027q2_platform_monetization	2027Q2 / base	123.2% ratio	assumption: Desk assumption; not company guidance.
Platform revenue base_2027q2_platform	2027Q2 / base	325.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(q2_platform, base_2027q2_member_index, base_2027q2_platform_monetization).
Revenue base_2027q2_revenue	2027Q2 / base	825.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(base_2027q2_payments, base_2027q2_platform).
Gross margin base_2027q2_gross_margin	2027Q2 / base	89.0% ratio	assumption: Desk assumption; not company guidance.
Gross profit after processing base_2027q2_gross_profit	2027Q2 / base	734.25 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(base_2027q2_revenue, base_2027q2_gross_margin).
MyPay origination activity base_2027q2_mypay_originations	2027Q2 / base	5,800.00 USD_millions	assumption: Desk assumption; not company guidance.
MyPay loss rate base_2027q2_mypay_loss_rate	2027Q2 / base	0.9% ratio	assumption: Desk assumption; not company guidance.
MyPay loss allowance base_2027q2_mypay_losses	2027Q2 / base	52.20 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(base_2027q2_mypay_originations, base_2027q2_mypay_loss_rate).
Other lending, dispute and risk cost base_2027q2_other_risk	2027Q2 / base	75.00 USD_millions	assumption: Desk assumption; not company guidance.
Transaction and risk loss allowance base_2027q2_risk	2027Q2 / base	127.20 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(base_2027q2_mypay_losses, base_2027q2_other_risk).
Transaction profit base_2027q2_transaction_profit	2027Q2 / base	607.05 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(base_2027q2_gross_profit, base_2027q2_risk).
Adjusted product, sales and corporate cost base_2027q2_adjusted_costs	2027Q2 / base	422.05 USD_millions	assumption: Desk assumption; not company guidance.
Adjusted EBITDA proxy base_2027q2_adj_ebitda	2027Q2 / base	185.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(base_2027q2_transaction_profit, base_2027q2_adjusted_costs).
Total SBC and stock charitable cost base_2027q2_sbc	2027Q2 / base	84.00 USD_millions	assumption: Desk assumption; not company guidance.
Total D&A base_2027q2_da	2027Q2 / base	11.00 USD_millions	assumption: Desk assumption; not company guidance.
Cash costs excluded from adjusted EBITDA base_2027q2_cash_adjustments	2027Q2 / base	2.00 USD_millions	assumption: Desk assumption; not company guidance.
SBC D&A and cash excluded costs base_2027q2_gaap_adjustments	2027Q2 / base	97.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(base_2027q2_sbc, base_2027q2_da, base_2027q2_cash_adjustments).
Operating income proxy base_2027q2_operating_income	2027Q2 / base	88.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(base_2027q2_adj_ebitda, base_2027q2_gaap_adjustments).
Cash interest income base_2027q2_interest_income	2027Q2 / base	5.00 USD_millions	assumption: Desk assumption; not company guidance.
Adjusted EBITDA plus cash interest income base_2027q2_cash_earnings	2027Q2 / base	190.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(base_2027q2_adj_ebitda, base_2027q2_interest_income).
Cash interest and taxes base_2027q2_cash_interest_tax	2027Q2 / base	11.00 USD_millions	assumption: Desk assumption; not company guidance.
Product collateral and net operating working-capital use base_2027q2_wc	2027Q2 / base	30.00 USD_millions	assumption: Desk assumption; not company guidance.
Cash adjustments taxes interest and working capital base_2027q2_cash_uses	2027Q2 / base	43.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(base_2027q2_cash_adjustments, base_2027q2_cash_interest_tax, base_2027q2_wc).
Operating cash flow proxy base_2027q2_cfo	2027Q2 / base	147.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(base_2027q2_cash_earnings, base_2027q2_cash_uses).
Loans purchased less repayments base_2027q2_net_loan_funding	2027Q2 / base	50.00 USD_millions	assumption: Desk assumption; not company guidance.
PP&E and purchased/internal software cash base_2027q2_capex	2027Q2 / base	13.00 USD_millions	assumption: Desk assumption; not company guidance.
Loans and assets base_2027q2_investment	2027Q2 / base	63.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(base_2027q2_net_loan_funding, base_2027q2_capex).
Cash after loan funding and assets base_2027q2_cash_after_funding	2027Q2 / base	84.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(base_2027q2_cfo, base_2027q2_investment).
Stride closing switch base_2027q2_stride_closing	2027Q2 / base	100.0% ratio	assumption: Conditional quarter placement; expected H1 2027, downside assumes delay. No acquired operations or synergy booked.
Conditional Stride purchase cash base_2027q2_acquisition_cash	2027Q2 / base	590.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(stride_price, base_2027q2_stride_closing).
Cash after proposed bank purchase base_2027q2_cash_after_acquisition	2027Q2 / base	-506.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(base_2027q2_cash_after_funding, base_2027q2_acquisition_cash).
Purchase volume base_2027q3_purchase_volume	2027Q3 / base	46,500.00 USD_millions	assumption: Desk assumption; not company guidance.
Net payments yield base_2027q3_payment_yield	2027Q3 / base	1.1% ratio	assumption: Desk assumption; not company guidance.
Payments revenue base_2027q3_payments	2027Q3 / base	530.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(base_2027q3_purchase_volume, base_2027q3_payment_yield).
Active-member exposure index base_2027q3_member_index	2027Q3 / base	112.5% ratio	assumption: Desk assumption; not company guidance.
Platform monetization index base_2027q3_platform_monetization	2027Q3 / base	129.8% ratio	assumption: Desk assumption; not company guidance.
Platform revenue base_2027q3_platform	2027Q3 / base	350.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(q2_platform, base_2027q3_member_index, base_2027q3_platform_monetization).
Revenue base_2027q3_revenue	2027Q3 / base	880.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(base_2027q3_payments, base_2027q3_platform).
Gross margin base_2027q3_gross_margin	2027Q3 / base	89.0% ratio	assumption: Desk assumption; not company guidance.
Gross profit after processing base_2027q3_gross_profit	2027Q3 / base	783.20 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(base_2027q3_revenue, base_2027q3_gross_margin).
MyPay origination activity base_2027q3_mypay_originations	2027Q3 / base	6,200.00 USD_millions	assumption: Desk assumption; not company guidance.
MyPay loss rate base_2027q3_mypay_loss_rate	2027Q3 / base	0.9% ratio	assumption: Desk assumption; not company guidance.
MyPay loss allowance base_2027q3_mypay_losses	2027Q3 / base	55.80 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(base_2027q3_mypay_originations, base_2027q3_mypay_loss_rate).
Other lending, dispute and risk cost base_2027q3_other_risk	2027Q3 / base	78.00 USD_millions	assumption: Desk assumption; not company guidance.
Transaction and risk loss allowance base_2027q3_risk	2027Q3 / base	133.80 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(base_2027q3_mypay_losses, base_2027q3_other_risk).
Transaction profit base_2027q3_transaction_profit	2027Q3 / base	649.40 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(base_2027q3_gross_profit, base_2027q3_risk).
Adjusted product, sales and corporate cost base_2027q3_adjusted_costs	2027Q3 / base	439.40 USD_millions	assumption: Desk assumption; not company guidance.
Adjusted EBITDA proxy base_2027q3_adj_ebitda	2027Q3 / base	210.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(base_2027q3_transaction_profit, base_2027q3_adjusted_costs).
Total SBC and stock charitable cost base_2027q3_sbc	2027Q3 / base	88.00 USD_millions	assumption: Desk assumption; not company guidance.
Total D&A base_2027q3_da	2027Q3 / base	12.00 USD_millions	assumption: Desk assumption; not company guidance.
Cash costs excluded from adjusted EBITDA base_2027q3_cash_adjustments	2027Q3 / base	2.00 USD_millions	assumption: Desk assumption; not company guidance.
SBC D&A and cash excluded costs base_2027q3_gaap_adjustments	2027Q3 / base	102.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(base_2027q3_sbc, base_2027q3_da, base_2027q3_cash_adjustments).
Operating income proxy base_2027q3_operating_income	2027Q3 / base	108.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(base_2027q3_adj_ebitda, base_2027q3_gaap_adjustments).
Cash interest income base_2027q3_interest_income	2027Q3 / base	5.00 USD_millions	assumption: Desk assumption; not company guidance.
Adjusted EBITDA plus cash interest income base_2027q3_cash_earnings	2027Q3 / base	215.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(base_2027q3_adj_ebitda, base_2027q3_interest_income).
Cash interest and taxes base_2027q3_cash_interest_tax	2027Q3 / base	13.00 USD_millions	assumption: Desk assumption; not company guidance.
Product collateral and net operating working-capital use base_2027q3_wc	2027Q3 / base	35.00 USD_millions	assumption: Desk assumption; not company guidance.
Cash adjustments taxes interest and working capital base_2027q3_cash_uses	2027Q3 / base	50.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(base_2027q3_cash_adjustments, base_2027q3_cash_interest_tax, base_2027q3_wc).
Operating cash flow proxy base_2027q3_cfo	2027Q3 / base	165.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(base_2027q3_cash_earnings, base_2027q3_cash_uses).
Loans purchased less repayments base_2027q3_net_loan_funding	2027Q3 / base	55.00 USD_millions	assumption: Desk assumption; not company guidance.
PP&E and purchased/internal software cash base_2027q3_capex	2027Q3 / base	14.00 USD_millions	assumption: Desk assumption; not company guidance.
Loans and assets base_2027q3_investment	2027Q3 / base	69.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(base_2027q3_net_loan_funding, base_2027q3_capex).
Cash after loan funding and assets base_2027q3_cash_after_funding	2027Q3 / base	96.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(base_2027q3_cfo, base_2027q3_investment).
Stride closing switch base_2027q3_stride_closing	2027Q3 / base	0.0% ratio	assumption: Conditional quarter placement; expected H1 2027, downside assumes delay. No acquired operations or synergy booked.
Conditional Stride purchase cash base_2027q3_acquisition_cash	2027Q3 / base	0.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(stride_price, base_2027q3_stride_closing).
Cash after proposed bank purchase base_2027q3_cash_after_acquisition	2027Q3 / base	96.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(base_2027q3_cash_after_funding, base_2027q3_acquisition_cash).
Purchase volume base_2027q4_purchase_volume	2027Q4 / base	48,500.00 USD_millions	assumption: Desk assumption; not company guidance.
Net payments yield base_2027q4_payment_yield	2027Q4 / base	1.1% ratio	assumption: Desk assumption; not company guidance.
Payments revenue base_2027q4_payments	2027Q4 / base	555.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(base_2027q4_purchase_volume, base_2027q4_payment_yield).
Active-member exposure index base_2027q4_member_index	2027Q4 / base	115.0% ratio	assumption: Desk assumption; not company guidance.
Platform monetization index base_2027q4_platform_monetization	2027Q4 / base	136.0% ratio	assumption: Desk assumption; not company guidance.
Platform revenue base_2027q4_platform	2027Q4 / base	375.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(q2_platform, base_2027q4_member_index, base_2027q4_platform_monetization).
Revenue base_2027q4_revenue	2027Q4 / base	930.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(base_2027q4_payments, base_2027q4_platform).
Gross margin base_2027q4_gross_margin	2027Q4 / base	89.0% ratio	assumption: Desk assumption; not company guidance.
Gross profit after processing base_2027q4_gross_profit	2027Q4 / base	827.70 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(base_2027q4_revenue, base_2027q4_gross_margin).
MyPay origination activity base_2027q4_mypay_originations	2027Q4 / base	6,600.00 USD_millions	assumption: Desk assumption; not company guidance.
MyPay loss rate base_2027q4_mypay_loss_rate	2027Q4 / base	0.9% ratio	assumption: Desk assumption; not company guidance.
MyPay loss allowance base_2027q4_mypay_losses	2027Q4 / base	59.40 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(base_2027q4_mypay_originations, base_2027q4_mypay_loss_rate).
Other lending, dispute and risk cost base_2027q4_other_risk	2027Q4 / base	81.00 USD_millions	assumption: Desk assumption; not company guidance.
Transaction and risk loss allowance base_2027q4_risk	2027Q4 / base	140.40 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(base_2027q4_mypay_losses, base_2027q4_other_risk).
Transaction profit base_2027q4_transaction_profit	2027Q4 / base	687.30 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(base_2027q4_gross_profit, base_2027q4_risk).
Adjusted product, sales and corporate cost base_2027q4_adjusted_costs	2027Q4 / base	452.30 USD_millions	assumption: Desk assumption; not company guidance.
Adjusted EBITDA proxy base_2027q4_adj_ebitda	2027Q4 / base	235.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(base_2027q4_transaction_profit, base_2027q4_adjusted_costs).
Total SBC and stock charitable cost base_2027q4_sbc	2027Q4 / base	92.00 USD_millions	assumption: Desk assumption; not company guidance.
Total D&A base_2027q4_da	2027Q4 / base	13.00 USD_millions	assumption: Desk assumption; not company guidance.
Cash costs excluded from adjusted EBITDA base_2027q4_cash_adjustments	2027Q4 / base	2.00 USD_millions	assumption: Desk assumption; not company guidance.
SBC D&A and cash excluded costs base_2027q4_gaap_adjustments	2027Q4 / base	107.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(base_2027q4_sbc, base_2027q4_da, base_2027q4_cash_adjustments).
Operating income proxy base_2027q4_operating_income	2027Q4 / base	128.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(base_2027q4_adj_ebitda, base_2027q4_gaap_adjustments).
Cash interest income base_2027q4_interest_income	2027Q4 / base	5.00 USD_millions	assumption: Desk assumption; not company guidance.
Adjusted EBITDA plus cash interest income base_2027q4_cash_earnings	2027Q4 / base	240.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(base_2027q4_adj_ebitda, base_2027q4_interest_income).
Cash interest and taxes base_2027q4_cash_interest_tax	2027Q4 / base	15.00 USD_millions	assumption: Desk assumption; not company guidance.
Product collateral and net operating working-capital use base_2027q4_wc	2027Q4 / base	40.00 USD_millions	assumption: Desk assumption; not company guidance.
Cash adjustments taxes interest and working capital base_2027q4_cash_uses	2027Q4 / base	57.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(base_2027q4_cash_adjustments, base_2027q4_cash_interest_tax, base_2027q4_wc).
Operating cash flow proxy base_2027q4_cfo	2027Q4 / base	183.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(base_2027q4_cash_earnings, base_2027q4_cash_uses).
Loans purchased less repayments base_2027q4_net_loan_funding	2027Q4 / base	60.00 USD_millions	assumption: Desk assumption; not company guidance.
PP&E and purchased/internal software cash base_2027q4_capex	2027Q4 / base	15.00 USD_millions	assumption: Desk assumption; not company guidance.
Loans and assets base_2027q4_investment	2027Q4 / base	75.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(base_2027q4_net_loan_funding, base_2027q4_capex).
Cash after loan funding and assets base_2027q4_cash_after_funding	2027Q4 / base	108.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(base_2027q4_cfo, base_2027q4_investment).
Stride closing switch base_2027q4_stride_closing	2027Q4 / base	0.0% ratio	assumption: Conditional quarter placement; expected H1 2027, downside assumes delay. No acquired operations or synergy booked.
Conditional Stride purchase cash base_2027q4_acquisition_cash	2027Q4 / base	0.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(stride_price, base_2027q4_stride_closing).
Cash after proposed bank purchase base_2027q4_cash_after_acquisition	2027Q4 / base	108.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(base_2027q4_cash_after_funding, base_2027q4_acquisition_cash).
Revenue ($M) base_fy2026_revenue	FY2026 / base	2,765.00 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_revenue, base_2026q3_revenue, base_2026q4_revenue).
Payments revenue ($M) base_fy2026_payments	FY2026 / base	1,782.67 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_payments, base_2026q3_payments, base_2026q4_payments).
Platform revenue ($M) base_fy2026_platform	FY2026 / base	982.33 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_platform, base_2026q3_platform, base_2026q4_platform).
Transaction profit proxy ($M) base_fy2026_transaction_profit	FY2026 / base	2,048.38 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_transaction_profit, base_2026q3_transaction_profit, base_2026q4_transaction_profit).
Adjusted EBITDA proxy ($M) base_fy2026_adj_ebitda	FY2026 / base	485.00 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_adj_ebitda, base_2026q3_adj_ebitda, base_2026q4_adj_ebitda).
Operating income proxy ($M) base_fy2026_operating_income	FY2026 / base	163.27 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_operating_income, base_2026q3_operating_income, base_2026q4_operating_income).
Operating cash flow proxy ($M) base_fy2026_cfo	FY2026 / base	524.74 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_cfo, base_2026q3_cfo, base_2026q4_cfo).
Loan purchases less repayments ($M) base_fy2026_net_loan_funding	FY2026 / base	128.90 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_net_loan_funding, base_2026q3_net_loan_funding, base_2026q4_net_loan_funding).
PP&E and software cash ($M) base_fy2026_capex	FY2026 / base	38.39 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_capex, base_2026q3_capex, base_2026q4_capex).
Cash after loans and capex ($M) base_fy2026_cash_after_funding	FY2026 / base	357.45 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_cash_after_funding, base_2026q3_cash_after_funding, base_2026q4_cash_after_funding).
Conditional Stride cash price ($M) base_fy2026_acquisition_cash	FY2026 / base	0.00 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_acquisition_cash, base_2026q3_acquisition_cash, base_2026q4_acquisition_cash).
Cash after conditional acquisition ($M) base_fy2026_cash_after_acquisition	FY2026 / base	357.45 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_cash_after_acquisition, base_2026q3_cash_after_acquisition, base_2026q4_cash_after_acquisition).
Revenue ($M) base_fy2027_revenue	FY2027 / base	3,425.00 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(base_2027q1_revenue, base_2027q2_revenue, base_2027q3_revenue, base_2027q4_revenue).
Payments revenue ($M) base_fy2027_payments	FY2027 / base	2,065.00 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(base_2027q1_payments, base_2027q2_payments, base_2027q3_payments, base_2027q4_payments).
Platform revenue ($M) base_fy2027_platform	FY2027 / base	1,360.00 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(base_2027q1_platform, base_2027q2_platform, base_2027q3_platform, base_2027q4_platform).
Transaction profit proxy ($M) base_fy2027_transaction_profit	FY2027 / base	2,526.25 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(base_2027q1_transaction_profit, base_2027q2_transaction_profit, base_2027q3_transaction_profit, base_2027q4_transaction_profit).
Adjusted EBITDA proxy ($M) base_fy2027_adj_ebitda	FY2027 / base	810.00 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(base_2027q1_adj_ebitda, base_2027q2_adj_ebitda, base_2027q3_adj_ebitda, base_2027q4_adj_ebitda).
Operating income proxy ($M) base_fy2027_operating_income	FY2027 / base	412.00 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(base_2027q1_operating_income, base_2027q2_operating_income, base_2027q3_operating_income, base_2027q4_operating_income).
Operating cash flow proxy ($M) base_fy2027_cfo	FY2027 / base	647.00 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(base_2027q1_cfo, base_2027q2_cfo, base_2027q3_cfo, base_2027q4_cfo).
Loan purchases less repayments ($M) base_fy2027_net_loan_funding	FY2027 / base	210.00 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(base_2027q1_net_loan_funding, base_2027q2_net_loan_funding, base_2027q3_net_loan_funding, base_2027q4_net_loan_funding).
PP&E and software cash ($M) base_fy2027_capex	FY2027 / base	54.00 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(base_2027q1_capex, base_2027q2_capex, base_2027q3_capex, base_2027q4_capex).
Cash after loans and capex ($M) base_fy2027_cash_after_funding	FY2027 / base	383.00 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(base_2027q1_cash_after_funding, base_2027q2_cash_after_funding, base_2027q3_cash_after_funding, base_2027q4_cash_after_funding).
Conditional Stride cash price ($M) base_fy2027_acquisition_cash	FY2027 / base	590.00 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(base_2027q1_acquisition_cash, base_2027q2_acquisition_cash, base_2027q3_acquisition_cash, base_2027q4_acquisition_cash).
Cash after conditional acquisition ($M) base_fy2027_cash_after_acquisition	FY2027 / base	-207.00 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(base_2027q1_cash_after_acquisition, base_2027q2_cash_after_acquisition, base_2027q3_cash_after_acquisition, base_2027q4_cash_after_acquisition).
Purchase volume upside_2026q3_purchase_volume	2026Q3 / upside	42,800.00 USD_millions	assumption: Desk assumption; not company guidance.
Net payments yield upside_2026q3_payment_yield	2026Q3 / upside	1.1% ratio	assumption: Desk assumption; not company guidance.
Payments revenue upside_2026q3_payments	2026Q3 / upside	481.50 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(upside_2026q3_purchase_volume, upside_2026q3_payment_yield).
Active-member exposure index upside_2026q3_member_index	2026Q3 / upside	102.5% ratio	assumption: Desk assumption; not company guidance.
Platform monetization index upside_2026q3_platform_monetization	2026Q3 / upside	114.1% ratio	assumption: Desk assumption; not company guidance.
Platform revenue upside_2026q3_platform	2026Q3 / upside	280.50 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(q2_platform, upside_2026q3_member_index, upside_2026q3_platform_monetization).
Revenue upside_2026q3_revenue	2026Q3 / upside	762.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(upside_2026q3_payments, upside_2026q3_platform).
Gross margin upside_2026q3_gross_margin	2026Q3 / upside	89.0% ratio	assumption: Desk assumption; not company guidance.
Gross profit after processing upside_2026q3_gross_profit	2026Q3 / upside	678.18 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(upside_2026q3_revenue, upside_2026q3_gross_margin).
MyPay origination activity upside_2026q3_mypay_originations	2026Q3 / upside	5,280.00 USD_millions	assumption: Desk assumption; not company guidance.
MyPay loss rate upside_2026q3_mypay_loss_rate	2026Q3 / upside	0.8% ratio	assumption: Desk assumption; not company guidance.
MyPay loss allowance upside_2026q3_mypay_losses	2026Q3 / upside	39.60 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(upside_2026q3_mypay_originations, upside_2026q3_mypay_loss_rate).
Other lending, dispute and risk cost upside_2026q3_other_risk	2026Q3 / upside	67.98 USD_millions	assumption: Desk assumption; not company guidance.
Transaction and risk loss allowance upside_2026q3_risk	2026Q3 / upside	107.58 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(upside_2026q3_mypay_losses, upside_2026q3_other_risk).
Transaction profit upside_2026q3_transaction_profit	2026Q3 / upside	570.60 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(upside_2026q3_gross_profit, upside_2026q3_risk).
Adjusted product, sales and corporate cost upside_2026q3_adjusted_costs	2026Q3 / upside	411.74 USD_millions	assumption: Desk assumption; not company guidance.
Adjusted EBITDA proxy upside_2026q3_adj_ebitda	2026Q3 / upside	158.86 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(upside_2026q3_transaction_profit, upside_2026q3_adjusted_costs).
Total SBC and stock charitable cost upside_2026q3_sbc	2026Q3 / upside	72.00 USD_millions	assumption: Desk assumption; not company guidance.
Total D&A upside_2026q3_da	2026Q3 / upside	8.00 USD_millions	assumption: Desk assumption; not company guidance.
Cash costs excluded from adjusted EBITDA upside_2026q3_cash_adjustments	2026Q3 / upside	2.00 USD_millions	assumption: Desk assumption; not company guidance.
SBC D&A and cash excluded costs upside_2026q3_gaap_adjustments	2026Q3 / upside	82.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(upside_2026q3_sbc, upside_2026q3_da, upside_2026q3_cash_adjustments).
Operating income proxy upside_2026q3_operating_income	2026Q3 / upside	76.86 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(upside_2026q3_adj_ebitda, upside_2026q3_gaap_adjustments).
Cash interest income upside_2026q3_interest_income	2026Q3 / upside	8.00 USD_millions	assumption: Desk assumption; not company guidance.
Adjusted EBITDA plus cash interest income upside_2026q3_cash_earnings	2026Q3 / upside	166.86 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(upside_2026q3_adj_ebitda, upside_2026q3_interest_income).
Cash interest and taxes upside_2026q3_cash_interest_tax	2026Q3 / upside	5.00 USD_millions	assumption: Desk assumption; not company guidance.
Product collateral and net operating working-capital use upside_2026q3_wc	2026Q3 / upside	15.00 USD_millions	assumption: Desk assumption; not company guidance.
Cash adjustments taxes interest and working capital upside_2026q3_cash_uses	2026Q3 / upside	22.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(upside_2026q3_cash_adjustments, upside_2026q3_cash_interest_tax, upside_2026q3_wc).
Operating cash flow proxy upside_2026q3_cfo	2026Q3 / upside	144.86 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(upside_2026q3_cash_earnings, upside_2026q3_cash_uses).
Loans purchased less repayments upside_2026q3_net_loan_funding	2026Q3 / upside	40.25 USD_millions	assumption: Desk assumption; not company guidance.
PP&E and purchased/internal software cash upside_2026q3_capex	2026Q3 / upside	10.00 USD_millions	assumption: Desk assumption; not company guidance.
Loans and assets upside_2026q3_investment	2026Q3 / upside	50.25 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(upside_2026q3_net_loan_funding, upside_2026q3_capex).
Cash after loan funding and assets upside_2026q3_cash_after_funding	2026Q3 / upside	94.61 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(upside_2026q3_cfo, upside_2026q3_investment).
Stride closing switch upside_2026q3_stride_closing	2026Q3 / upside	0.0% ratio	assumption: Conditional quarter placement; expected H1 2027, downside assumes delay. No acquired operations or synergy booked.
Conditional Stride purchase cash upside_2026q3_acquisition_cash	2026Q3 / upside	0.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(stride_price, upside_2026q3_stride_closing).
Cash after proposed bank purchase upside_2026q3_cash_after_acquisition	2026Q3 / upside	94.61 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(upside_2026q3_cash_after_funding, upside_2026q3_acquisition_cash).
Purchase volume upside_2026q4_purchase_volume	2026Q4 / upside	44,940.00 USD_millions	assumption: Desk assumption; not company guidance.
Net payments yield upside_2026q4_payment_yield	2026Q4 / upside	1.1% ratio	assumption: Desk assumption; not company guidance.
Payments revenue upside_2026q4_payments	2026Q4 / upside	502.90 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(upside_2026q4_purchase_volume, upside_2026q4_payment_yield).
Active-member exposure index upside_2026q4_member_index	2026Q4 / upside	105.0% ratio	assumption: Desk assumption; not company guidance.
Platform monetization index upside_2026q4_platform_monetization	2026Q4 / upside	119.2% ratio	assumption: Desk assumption; not company guidance.
Platform revenue upside_2026q4_platform	2026Q4 / upside	300.13 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(q2_platform, upside_2026q4_member_index, upside_2026q4_platform_monetization).
Revenue upside_2026q4_revenue	2026Q4 / upside	803.03 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(upside_2026q4_payments, upside_2026q4_platform).
Gross margin upside_2026q4_gross_margin	2026Q4 / upside	89.0% ratio	assumption: Desk assumption; not company guidance.
Gross profit after processing upside_2026q4_gross_profit	2026Q4 / upside	714.70 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(upside_2026q4_revenue, upside_2026q4_gross_margin).
MyPay origination activity upside_2026q4_mypay_originations	2026Q4 / upside	5,500.00 USD_millions	assumption: Desk assumption; not company guidance.
MyPay loss rate upside_2026q4_mypay_loss_rate	2026Q4 / upside	0.8% ratio	assumption: Desk assumption; not company guidance.
MyPay loss allowance upside_2026q4_mypay_losses	2026Q4 / upside	41.25 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(upside_2026q4_mypay_originations, upside_2026q4_mypay_loss_rate).
Other lending, dispute and risk cost upside_2026q4_other_risk	2026Q4 / upside	71.07 USD_millions	assumption: Desk assumption; not company guidance.
Transaction and risk loss allowance upside_2026q4_risk	2026Q4 / upside	112.32 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(upside_2026q4_mypay_losses, upside_2026q4_other_risk).
Transaction profit upside_2026q4_transaction_profit	2026Q4 / upside	602.38 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(upside_2026q4_gross_profit, upside_2026q4_risk).
Adjusted product, sales and corporate cost upside_2026q4_adjusted_costs	2026Q4 / upside	412.87 USD_millions	assumption: Desk assumption; not company guidance.
Adjusted EBITDA proxy upside_2026q4_adj_ebitda	2026Q4 / upside	189.50 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(upside_2026q4_transaction_profit, upside_2026q4_adjusted_costs).
Total SBC and stock charitable cost upside_2026q4_sbc	2026Q4 / upside	76.00 USD_millions	assumption: Desk assumption; not company guidance.
Total D&A upside_2026q4_da	2026Q4 / upside	9.00 USD_millions	assumption: Desk assumption; not company guidance.
Cash costs excluded from adjusted EBITDA upside_2026q4_cash_adjustments	2026Q4 / upside	2.00 USD_millions	assumption: Desk assumption; not company guidance.
SBC D&A and cash excluded costs upside_2026q4_gaap_adjustments	2026Q4 / upside	87.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(upside_2026q4_sbc, upside_2026q4_da, upside_2026q4_cash_adjustments).
Operating income proxy upside_2026q4_operating_income	2026Q4 / upside	102.50 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(upside_2026q4_adj_ebitda, upside_2026q4_gaap_adjustments).
Cash interest income upside_2026q4_interest_income	2026Q4 / upside	8.00 USD_millions	assumption: Desk assumption; not company guidance.
Adjusted EBITDA plus cash interest income upside_2026q4_cash_earnings	2026Q4 / upside	197.50 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(upside_2026q4_adj_ebitda, upside_2026q4_interest_income).
Cash interest and taxes upside_2026q4_cash_interest_tax	2026Q4 / upside	7.00 USD_millions	assumption: Desk assumption; not company guidance.
Product collateral and net operating working-capital use upside_2026q4_wc	2026Q4 / upside	20.00 USD_millions	assumption: Desk assumption; not company guidance.
Cash adjustments taxes interest and working capital upside_2026q4_cash_uses	2026Q4 / upside	29.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(upside_2026q4_cash_adjustments, upside_2026q4_cash_interest_tax, upside_2026q4_wc).
Operating cash flow proxy upside_2026q4_cfo	2026Q4 / upside	168.50 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(upside_2026q4_cash_earnings, upside_2026q4_cash_uses).
Loans purchased less repayments upside_2026q4_net_loan_funding	2026Q4 / upside	46.00 USD_millions	assumption: Desk assumption; not company guidance.
PP&E and purchased/internal software cash upside_2026q4_capex	2026Q4 / upside	11.00 USD_millions	assumption: Desk assumption; not company guidance.
Loans and assets upside_2026q4_investment	2026Q4 / upside	57.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(upside_2026q4_net_loan_funding, upside_2026q4_capex).
Cash after loan funding and assets upside_2026q4_cash_after_funding	2026Q4 / upside	111.50 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(upside_2026q4_cfo, upside_2026q4_investment).
Stride closing switch upside_2026q4_stride_closing	2026Q4 / upside	0.0% ratio	assumption: Conditional quarter placement; expected H1 2027, downside assumes delay. No acquired operations or synergy booked.
Conditional Stride purchase cash upside_2026q4_acquisition_cash	2026Q4 / upside	0.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(stride_price, upside_2026q4_stride_closing).
Cash after proposed bank purchase upside_2026q4_cash_after_acquisition	2026Q4 / upside	111.50 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(upside_2026q4_cash_after_funding, upside_2026q4_acquisition_cash).
Purchase volume upside_2027q1_purchase_volume	2027Q1 / upside	45,475.00 USD_millions	assumption: Desk assumption; not company guidance.
Net payments yield upside_2027q1_payment_yield	2027Q1 / upside	1.1% ratio	assumption: Desk assumption; not company guidance.
Payments revenue upside_2027q1_payments	2027Q1 / upside	513.60 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(upside_2027q1_purchase_volume, upside_2027q1_payment_yield).
Active-member exposure index upside_2027q1_member_index	2027Q1 / upside	107.5% ratio	assumption: Desk assumption; not company guidance.
Platform monetization index upside_2027q1_platform_monetization	2027Q1 / upside	132.3% ratio	assumption: Desk assumption; not company guidance.
Platform revenue upside_2027q1_platform	2027Q1 / upside	341.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(q2_platform, upside_2027q1_member_index, upside_2027q1_platform_monetization).
Revenue upside_2027q1_revenue	2027Q1 / upside	854.60 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(upside_2027q1_payments, upside_2027q1_platform).
Gross margin upside_2027q1_gross_margin	2027Q1 / upside	89.0% ratio	assumption: Desk assumption; not company guidance.
Gross profit after processing upside_2027q1_gross_profit	2027Q1 / upside	760.59 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(upside_2027q1_revenue, upside_2027q1_gross_margin).
MyPay origination activity upside_2027q1_mypay_originations	2027Q1 / upside	5,940.00 USD_millions	assumption: Desk assumption; not company guidance.
MyPay loss rate upside_2027q1_mypay_loss_rate	2027Q1 / upside	0.8% ratio	assumption: Desk assumption; not company guidance.
MyPay loss allowance upside_2027q1_mypay_losses	2027Q1 / upside	44.55 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(upside_2027q1_mypay_originations, upside_2027q1_mypay_loss_rate).
Other lending, dispute and risk cost upside_2027q1_other_risk	2027Q1 / upside	74.16 USD_millions	assumption: Desk assumption; not company guidance.
Transaction and risk loss allowance upside_2027q1_risk	2027Q1 / upside	118.71 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(upside_2027q1_mypay_losses, upside_2027q1_other_risk).
Transaction profit upside_2027q1_transaction_profit	2027Q1 / upside	641.88 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(upside_2027q1_gross_profit, upside_2027q1_risk).
Adjusted product, sales and corporate cost upside_2027q1_adjusted_costs	2027Q1 / upside	414.57 USD_millions	assumption: Desk assumption; not company guidance.
Adjusted EBITDA proxy upside_2027q1_adj_ebitda	2027Q1 / upside	227.31 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(upside_2027q1_transaction_profit, upside_2027q1_adjusted_costs).
Total SBC and stock charitable cost upside_2027q1_sbc	2027Q1 / upside	80.00 USD_millions	assumption: Desk assumption; not company guidance.
Total D&A upside_2027q1_da	2027Q1 / upside	10.00 USD_millions	assumption: Desk assumption; not company guidance.
Cash costs excluded from adjusted EBITDA upside_2027q1_cash_adjustments	2027Q1 / upside	2.00 USD_millions	assumption: Desk assumption; not company guidance.
SBC D&A and cash excluded costs upside_2027q1_gaap_adjustments	2027Q1 / upside	92.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(upside_2027q1_sbc, upside_2027q1_da, upside_2027q1_cash_adjustments).
Operating income proxy upside_2027q1_operating_income	2027Q1 / upside	135.31 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(upside_2027q1_adj_ebitda, upside_2027q1_gaap_adjustments).
Cash interest income upside_2027q1_interest_income	2027Q1 / upside	8.00 USD_millions	assumption: Desk assumption; not company guidance.
Adjusted EBITDA plus cash interest income upside_2027q1_cash_earnings	2027Q1 / upside	235.31 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(upside_2027q1_adj_ebitda, upside_2027q1_interest_income).
Cash interest and taxes upside_2027q1_cash_interest_tax	2027Q1 / upside	9.00 USD_millions	assumption: Desk assumption; not company guidance.
Product collateral and net operating working-capital use upside_2027q1_wc	2027Q1 / upside	25.00 USD_millions	assumption: Desk assumption; not company guidance.
Cash adjustments taxes interest and working capital upside_2027q1_cash_uses	2027Q1 / upside	36.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(upside_2027q1_cash_adjustments, upside_2027q1_cash_interest_tax, upside_2027q1_wc).
Operating cash flow proxy upside_2027q1_cfo	2027Q1 / upside	199.31 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(upside_2027q1_cash_earnings, upside_2027q1_cash_uses).
Loans purchased less repayments upside_2027q1_net_loan_funding	2027Q1 / upside	51.75 USD_millions	assumption: Desk assumption; not company guidance.
PP&E and purchased/internal software cash upside_2027q1_capex	2027Q1 / upside	12.00 USD_millions	assumption: Desk assumption; not company guidance.
Loans and assets upside_2027q1_investment	2027Q1 / upside	63.75 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(upside_2027q1_net_loan_funding, upside_2027q1_capex).
Cash after loan funding and assets upside_2027q1_cash_after_funding	2027Q1 / upside	135.56 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(upside_2027q1_cfo, upside_2027q1_investment).
Stride closing switch upside_2027q1_stride_closing	2027Q1 / upside	100.0% ratio	assumption: Conditional quarter placement; expected H1 2027, downside assumes delay. No acquired operations or synergy booked.
Conditional Stride purchase cash upside_2027q1_acquisition_cash	2027Q1 / upside	590.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(stride_price, upside_2027q1_stride_closing).
Cash after proposed bank purchase upside_2027q1_cash_after_acquisition	2027Q1 / upside	-454.44 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(upside_2027q1_cash_after_funding, upside_2027q1_acquisition_cash).
Purchase volume upside_2027q2_purchase_volume	2027Q2 / upside	47,080.00 USD_millions	assumption: Desk assumption; not company guidance.
Net payments yield upside_2027q2_payment_yield	2027Q2 / upside	1.1% ratio	assumption: Desk assumption; not company guidance.
Payments revenue upside_2027q2_payments	2027Q2 / upside	535.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(upside_2027q2_purchase_volume, upside_2027q2_payment_yield).
Active-member exposure index upside_2027q2_member_index	2027Q2 / upside	110.0% ratio	assumption: Desk assumption; not company guidance.
Platform monetization index upside_2027q2_platform_monetization	2027Q2 / upside	135.6% ratio	assumption: Desk assumption; not company guidance.
Platform revenue upside_2027q2_platform	2027Q2 / upside	357.50 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(q2_platform, upside_2027q2_member_index, upside_2027q2_platform_monetization).
Revenue upside_2027q2_revenue	2027Q2 / upside	892.50 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(upside_2027q2_payments, upside_2027q2_platform).
Gross margin upside_2027q2_gross_margin	2027Q2 / upside	89.0% ratio	assumption: Desk assumption; not company guidance.
Gross profit after processing upside_2027q2_gross_profit	2027Q2 / upside	794.33 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(upside_2027q2_revenue, upside_2027q2_gross_margin).
MyPay origination activity upside_2027q2_mypay_originations	2027Q2 / upside	6,380.00 USD_millions	assumption: Desk assumption; not company guidance.
MyPay loss rate upside_2027q2_mypay_loss_rate	2027Q2 / upside	0.8% ratio	assumption: Desk assumption; not company guidance.
MyPay loss allowance upside_2027q2_mypay_losses	2027Q2 / upside	47.85 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(upside_2027q2_mypay_originations, upside_2027q2_mypay_loss_rate).
Other lending, dispute and risk cost upside_2027q2_other_risk	2027Q2 / upside	77.25 USD_millions	assumption: Desk assumption; not company guidance.
Transaction and risk loss allowance upside_2027q2_risk	2027Q2 / upside	125.10 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(upside_2027q2_mypay_losses, upside_2027q2_other_risk).
Transaction profit upside_2027q2_transaction_profit	2027Q2 / upside	669.23 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(upside_2027q2_gross_profit, upside_2027q2_risk).
Adjusted product, sales and corporate cost upside_2027q2_adjusted_costs	2027Q2 / upside	434.71 USD_millions	assumption: Desk assumption; not company guidance.
Adjusted EBITDA proxy upside_2027q2_adj_ebitda	2027Q2 / upside	234.51 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(upside_2027q2_transaction_profit, upside_2027q2_adjusted_costs).
Total SBC and stock charitable cost upside_2027q2_sbc	2027Q2 / upside	84.00 USD_millions	assumption: Desk assumption; not company guidance.
Total D&A upside_2027q2_da	2027Q2 / upside	11.00 USD_millions	assumption: Desk assumption; not company guidance.
Cash costs excluded from adjusted EBITDA upside_2027q2_cash_adjustments	2027Q2 / upside	2.00 USD_millions	assumption: Desk assumption; not company guidance.
SBC D&A and cash excluded costs upside_2027q2_gaap_adjustments	2027Q2 / upside	97.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(upside_2027q2_sbc, upside_2027q2_da, upside_2027q2_cash_adjustments).
Operating income proxy upside_2027q2_operating_income	2027Q2 / upside	137.51 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(upside_2027q2_adj_ebitda, upside_2027q2_gaap_adjustments).
Cash interest income upside_2027q2_interest_income	2027Q2 / upside	5.00 USD_millions	assumption: Desk assumption; not company guidance.
Adjusted EBITDA plus cash interest income upside_2027q2_cash_earnings	2027Q2 / upside	239.51 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(upside_2027q2_adj_ebitda, upside_2027q2_interest_income).
Cash interest and taxes upside_2027q2_cash_interest_tax	2027Q2 / upside	11.00 USD_millions	assumption: Desk assumption; not company guidance.
Product collateral and net operating working-capital use upside_2027q2_wc	2027Q2 / upside	30.00 USD_millions	assumption: Desk assumption; not company guidance.
Cash adjustments taxes interest and working capital upside_2027q2_cash_uses	2027Q2 / upside	43.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(upside_2027q2_cash_adjustments, upside_2027q2_cash_interest_tax, upside_2027q2_wc).
Operating cash flow proxy upside_2027q2_cfo	2027Q2 / upside	196.51 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(upside_2027q2_cash_earnings, upside_2027q2_cash_uses).
Loans purchased less repayments upside_2027q2_net_loan_funding	2027Q2 / upside	57.50 USD_millions	assumption: Desk assumption; not company guidance.
PP&E and purchased/internal software cash upside_2027q2_capex	2027Q2 / upside	13.00 USD_millions	assumption: Desk assumption; not company guidance.
Loans and assets upside_2027q2_investment	2027Q2 / upside	70.50 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(upside_2027q2_net_loan_funding, upside_2027q2_capex).
Cash after loan funding and assets upside_2027q2_cash_after_funding	2027Q2 / upside	126.01 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(upside_2027q2_cfo, upside_2027q2_investment).
Stride closing switch upside_2027q2_stride_closing	2027Q2 / upside	0.0% ratio	assumption: Conditional quarter placement; expected H1 2027, downside assumes delay. No acquired operations or synergy booked.
Conditional Stride purchase cash upside_2027q2_acquisition_cash	2027Q2 / upside	0.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(stride_price, upside_2027q2_stride_closing).
Cash after proposed bank purchase upside_2027q2_cash_after_acquisition	2027Q2 / upside	126.01 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(upside_2027q2_cash_after_funding, upside_2027q2_acquisition_cash).
Purchase volume upside_2027q3_purchase_volume	2027Q3 / upside	49,755.00 USD_millions	assumption: Desk assumption; not company guidance.
Net payments yield upside_2027q3_payment_yield	2027Q3 / upside	1.1% ratio	assumption: Desk assumption; not company guidance.
Payments revenue upside_2027q3_payments	2027Q3 / upside	567.10 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(upside_2027q3_purchase_volume, upside_2027q3_payment_yield).
Active-member exposure index upside_2027q3_member_index	2027Q3 / upside	112.5% ratio	assumption: Desk assumption; not company guidance.
Platform monetization index upside_2027q3_platform_monetization	2027Q3 / upside	142.7% ratio	assumption: Desk assumption; not company guidance.
Platform revenue upside_2027q3_platform	2027Q3 / upside	385.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(q2_platform, upside_2027q3_member_index, upside_2027q3_platform_monetization).
Revenue upside_2027q3_revenue	2027Q3 / upside	952.10 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(upside_2027q3_payments, upside_2027q3_platform).
Gross margin upside_2027q3_gross_margin	2027Q3 / upside	89.0% ratio	assumption: Desk assumption; not company guidance.
Gross profit after processing upside_2027q3_gross_profit	2027Q3 / upside	847.37 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(upside_2027q3_revenue, upside_2027q3_gross_margin).
MyPay origination activity upside_2027q3_mypay_originations	2027Q3 / upside	6,820.00 USD_millions	assumption: Desk assumption; not company guidance.
MyPay loss rate upside_2027q3_mypay_loss_rate	2027Q3 / upside	0.8% ratio	assumption: Desk assumption; not company guidance.
MyPay loss allowance upside_2027q3_mypay_losses	2027Q3 / upside	51.15 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(upside_2027q3_mypay_originations, upside_2027q3_mypay_loss_rate).
Other lending, dispute and risk cost upside_2027q3_other_risk	2027Q3 / upside	80.34 USD_millions	assumption: Desk assumption; not company guidance.
Transaction and risk loss allowance upside_2027q3_risk	2027Q3 / upside	131.49 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(upside_2027q3_mypay_losses, upside_2027q3_other_risk).
Transaction profit upside_2027q3_transaction_profit	2027Q3 / upside	715.88 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(upside_2027q3_gross_profit, upside_2027q3_risk).
Adjusted product, sales and corporate cost upside_2027q3_adjusted_costs	2027Q3 / upside	452.58 USD_millions	assumption: Desk assumption; not company guidance.
Adjusted EBITDA proxy upside_2027q3_adj_ebitda	2027Q3 / upside	263.30 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(upside_2027q3_transaction_profit, upside_2027q3_adjusted_costs).
Total SBC and stock charitable cost upside_2027q3_sbc	2027Q3 / upside	88.00 USD_millions	assumption: Desk assumption; not company guidance.
Total D&A upside_2027q3_da	2027Q3 / upside	12.00 USD_millions	assumption: Desk assumption; not company guidance.
Cash costs excluded from adjusted EBITDA upside_2027q3_cash_adjustments	2027Q3 / upside	2.00 USD_millions	assumption: Desk assumption; not company guidance.
SBC D&A and cash excluded costs upside_2027q3_gaap_adjustments	2027Q3 / upside	102.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(upside_2027q3_sbc, upside_2027q3_da, upside_2027q3_cash_adjustments).
Operating income proxy upside_2027q3_operating_income	2027Q3 / upside	161.30 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(upside_2027q3_adj_ebitda, upside_2027q3_gaap_adjustments).
Cash interest income upside_2027q3_interest_income	2027Q3 / upside	5.00 USD_millions	assumption: Desk assumption; not company guidance.
Adjusted EBITDA plus cash interest income upside_2027q3_cash_earnings	2027Q3 / upside	268.30 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(upside_2027q3_adj_ebitda, upside_2027q3_interest_income).
Cash interest and taxes upside_2027q3_cash_interest_tax	2027Q3 / upside	13.00 USD_millions	assumption: Desk assumption; not company guidance.
Product collateral and net operating working-capital use upside_2027q3_wc	2027Q3 / upside	35.00 USD_millions	assumption: Desk assumption; not company guidance.
Cash adjustments taxes interest and working capital upside_2027q3_cash_uses	2027Q3 / upside	50.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(upside_2027q3_cash_adjustments, upside_2027q3_cash_interest_tax, upside_2027q3_wc).
Operating cash flow proxy upside_2027q3_cfo	2027Q3 / upside	218.30 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(upside_2027q3_cash_earnings, upside_2027q3_cash_uses).
Loans purchased less repayments upside_2027q3_net_loan_funding	2027Q3 / upside	63.25 USD_millions	assumption: Desk assumption; not company guidance.
PP&E and purchased/internal software cash upside_2027q3_capex	2027Q3 / upside	14.00 USD_millions	assumption: Desk assumption; not company guidance.
Loans and assets upside_2027q3_investment	2027Q3 / upside	77.25 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(upside_2027q3_net_loan_funding, upside_2027q3_capex).
Cash after loan funding and assets upside_2027q3_cash_after_funding	2027Q3 / upside	141.05 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(upside_2027q3_cfo, upside_2027q3_investment).
Stride closing switch upside_2027q3_stride_closing	2027Q3 / upside	0.0% ratio	assumption: Conditional quarter placement; expected H1 2027, downside assumes delay. No acquired operations or synergy booked.
Conditional Stride purchase cash upside_2027q3_acquisition_cash	2027Q3 / upside	0.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(stride_price, upside_2027q3_stride_closing).
Cash after proposed bank purchase upside_2027q3_cash_after_acquisition	2027Q3 / upside	141.05 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(upside_2027q3_cash_after_funding, upside_2027q3_acquisition_cash).
Purchase volume upside_2027q4_purchase_volume	2027Q4 / upside	51,895.00 USD_millions	assumption: Desk assumption; not company guidance.
Net payments yield upside_2027q4_payment_yield	2027Q4 / upside	1.1% ratio	assumption: Desk assumption; not company guidance.
Payments revenue upside_2027q4_payments	2027Q4 / upside	593.85 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(upside_2027q4_purchase_volume, upside_2027q4_payment_yield).
Active-member exposure index upside_2027q4_member_index	2027Q4 / upside	115.0% ratio	assumption: Desk assumption; not company guidance.
Platform monetization index upside_2027q4_platform_monetization	2027Q4 / upside	149.6% ratio	assumption: Desk assumption; not company guidance.
Platform revenue upside_2027q4_platform	2027Q4 / upside	412.50 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(q2_platform, upside_2027q4_member_index, upside_2027q4_platform_monetization).
Revenue upside_2027q4_revenue	2027Q4 / upside	1,006.35 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(upside_2027q4_payments, upside_2027q4_platform).
Gross margin upside_2027q4_gross_margin	2027Q4 / upside	89.0% ratio	assumption: Desk assumption; not company guidance.
Gross profit after processing upside_2027q4_gross_profit	2027Q4 / upside	895.65 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(upside_2027q4_revenue, upside_2027q4_gross_margin).
MyPay origination activity upside_2027q4_mypay_originations	2027Q4 / upside	7,260.00 USD_millions	assumption: Desk assumption; not company guidance.
MyPay loss rate upside_2027q4_mypay_loss_rate	2027Q4 / upside	0.8% ratio	assumption: Desk assumption; not company guidance.
MyPay loss allowance upside_2027q4_mypay_losses	2027Q4 / upside	54.45 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(upside_2027q4_mypay_originations, upside_2027q4_mypay_loss_rate).
Other lending, dispute and risk cost upside_2027q4_other_risk	2027Q4 / upside	83.43 USD_millions	assumption: Desk assumption; not company guidance.
Transaction and risk loss allowance upside_2027q4_risk	2027Q4 / upside	137.88 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(upside_2027q4_mypay_losses, upside_2027q4_other_risk).
Transaction profit upside_2027q4_transaction_profit	2027Q4 / upside	757.77 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(upside_2027q4_gross_profit, upside_2027q4_risk).
Adjusted product, sales and corporate cost upside_2027q4_adjusted_costs	2027Q4 / upside	465.87 USD_millions	assumption: Desk assumption; not company guidance.
Adjusted EBITDA proxy upside_2027q4_adj_ebitda	2027Q4 / upside	291.90 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(upside_2027q4_transaction_profit, upside_2027q4_adjusted_costs).
Total SBC and stock charitable cost upside_2027q4_sbc	2027Q4 / upside	92.00 USD_millions	assumption: Desk assumption; not company guidance.
Total D&A upside_2027q4_da	2027Q4 / upside	13.00 USD_millions	assumption: Desk assumption; not company guidance.
Cash costs excluded from adjusted EBITDA upside_2027q4_cash_adjustments	2027Q4 / upside	2.00 USD_millions	assumption: Desk assumption; not company guidance.
SBC D&A and cash excluded costs upside_2027q4_gaap_adjustments	2027Q4 / upside	107.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(upside_2027q4_sbc, upside_2027q4_da, upside_2027q4_cash_adjustments).
Operating income proxy upside_2027q4_operating_income	2027Q4 / upside	184.90 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(upside_2027q4_adj_ebitda, upside_2027q4_gaap_adjustments).
Cash interest income upside_2027q4_interest_income	2027Q4 / upside	5.00 USD_millions	assumption: Desk assumption; not company guidance.
Adjusted EBITDA plus cash interest income upside_2027q4_cash_earnings	2027Q4 / upside	296.90 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(upside_2027q4_adj_ebitda, upside_2027q4_interest_income).
Cash interest and taxes upside_2027q4_cash_interest_tax	2027Q4 / upside	15.00 USD_millions	assumption: Desk assumption; not company guidance.
Product collateral and net operating working-capital use upside_2027q4_wc	2027Q4 / upside	40.00 USD_millions	assumption: Desk assumption; not company guidance.
Cash adjustments taxes interest and working capital upside_2027q4_cash_uses	2027Q4 / upside	57.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(upside_2027q4_cash_adjustments, upside_2027q4_cash_interest_tax, upside_2027q4_wc).
Operating cash flow proxy upside_2027q4_cfo	2027Q4 / upside	239.90 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(upside_2027q4_cash_earnings, upside_2027q4_cash_uses).
Loans purchased less repayments upside_2027q4_net_loan_funding	2027Q4 / upside	69.00 USD_millions	assumption: Desk assumption; not company guidance.
PP&E and purchased/internal software cash upside_2027q4_capex	2027Q4 / upside	15.00 USD_millions	assumption: Desk assumption; not company guidance.
Loans and assets upside_2027q4_investment	2027Q4 / upside	84.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: sum(upside_2027q4_net_loan_funding, upside_2027q4_capex).
Cash after loan funding and assets upside_2027q4_cash_after_funding	2027Q4 / upside	155.90 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(upside_2027q4_cfo, upside_2027q4_investment).
Stride closing switch upside_2027q4_stride_closing	2027Q4 / upside	0.0% ratio	assumption: Conditional quarter placement; expected H1 2027, downside assumes delay. No acquired operations or synergy booked.
Conditional Stride purchase cash upside_2027q4_acquisition_cash	2027Q4 / upside	0.00 USD_millions	derived: Calculated from the named operating assumptions. Formula: multiply(stride_price, upside_2027q4_stride_closing).
Cash after proposed bank purchase upside_2027q4_cash_after_acquisition	2027Q4 / upside	155.90 USD_millions	derived: Calculated from the named operating assumptions. Formula: subtract(upside_2027q4_cash_after_funding, upside_2027q4_acquisition_cash).
Revenue ($M) upside_fy2026_revenue	FY2026 / upside	2,882.18 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_revenue, upside_2026q3_revenue, upside_2026q4_revenue).
Payments revenue ($M) upside_fy2026_payments	FY2026 / upside	1,847.07 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_payments, upside_2026q3_payments, upside_2026q4_payments).
Platform revenue ($M) upside_fy2026_platform	FY2026 / upside	1,035.11 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_platform, upside_2026q3_platform, upside_2026q4_platform).
Transaction profit proxy ($M) upside_fy2026_transaction_profit	FY2026 / upside	2,155.97 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_transaction_profit, upside_2026q3_transaction_profit, upside_2026q4_transaction_profit).
Adjusted EBITDA proxy ($M) upside_fy2026_adj_ebitda	FY2026 / upside	568.58 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_adj_ebitda, upside_2026q3_adj_ebitda, upside_2026q4_adj_ebitda).
Operating income proxy ($M) upside_fy2026_operating_income	FY2026 / upside	246.85 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_operating_income, upside_2026q3_operating_income, upside_2026q4_operating_income).
Operating cash flow proxy ($M) upside_fy2026_cfo	FY2026 / upside	608.32 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_cfo, upside_2026q3_cfo, upside_2026q4_cfo).
Loan purchases less repayments ($M) upside_fy2026_net_loan_funding	FY2026 / upside	140.15 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_net_loan_funding, upside_2026q3_net_loan_funding, upside_2026q4_net_loan_funding).
PP&E and software cash ($M) upside_fy2026_capex	FY2026 / upside	38.39 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_capex, upside_2026q3_capex, upside_2026q4_capex).
Cash after loans and capex ($M) upside_fy2026_cash_after_funding	FY2026 / upside	429.78 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_cash_after_funding, upside_2026q3_cash_after_funding, upside_2026q4_cash_after_funding).
Conditional Stride cash price ($M) upside_fy2026_acquisition_cash	FY2026 / upside	0.00 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_acquisition_cash, upside_2026q3_acquisition_cash, upside_2026q4_acquisition_cash).
Cash after conditional acquisition ($M) upside_fy2026_cash_after_acquisition	FY2026 / upside	429.78 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_cash_after_acquisition, upside_2026q3_cash_after_acquisition, upside_2026q4_cash_after_acquisition).
Revenue ($M) upside_fy2027_revenue	FY2027 / upside	3,705.55 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(upside_2027q1_revenue, upside_2027q2_revenue, upside_2027q3_revenue, upside_2027q4_revenue).
Payments revenue ($M) upside_fy2027_payments	FY2027 / upside	2,209.55 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(upside_2027q1_payments, upside_2027q2_payments, upside_2027q3_payments, upside_2027q4_payments).
Platform revenue ($M) upside_fy2027_platform	FY2027 / upside	1,496.00 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(upside_2027q1_platform, upside_2027q2_platform, upside_2027q3_platform, upside_2027q4_platform).
Transaction profit proxy ($M) upside_fy2027_transaction_profit	FY2027 / upside	2,784.76 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(upside_2027q1_transaction_profit, upside_2027q2_transaction_profit, upside_2027q3_transaction_profit, upside_2027q4_transaction_profit).
Adjusted EBITDA proxy ($M) upside_fy2027_adj_ebitda	FY2027 / upside	1,017.02 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(upside_2027q1_adj_ebitda, upside_2027q2_adj_ebitda, upside_2027q3_adj_ebitda, upside_2027q4_adj_ebitda).
Operating income proxy ($M) upside_fy2027_operating_income	FY2027 / upside	619.02 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(upside_2027q1_operating_income, upside_2027q2_operating_income, upside_2027q3_operating_income, upside_2027q4_operating_income).
Operating cash flow proxy ($M) upside_fy2027_cfo	FY2027 / upside	854.02 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(upside_2027q1_cfo, upside_2027q2_cfo, upside_2027q3_cfo, upside_2027q4_cfo).
Loan purchases less repayments ($M) upside_fy2027_net_loan_funding	FY2027 / upside	241.50 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(upside_2027q1_net_loan_funding, upside_2027q2_net_loan_funding, upside_2027q3_net_loan_funding, upside_2027q4_net_loan_funding).
PP&E and software cash ($M) upside_fy2027_capex	FY2027 / upside	54.00 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(upside_2027q1_capex, upside_2027q2_capex, upside_2027q3_capex, upside_2027q4_capex).
Cash after loans and capex ($M) upside_fy2027_cash_after_funding	FY2027 / upside	558.52 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(upside_2027q1_cash_after_funding, upside_2027q2_cash_after_funding, upside_2027q3_cash_after_funding, upside_2027q4_cash_after_funding).
Conditional Stride cash price ($M) upside_fy2027_acquisition_cash	FY2027 / upside	590.00 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(upside_2027q1_acquisition_cash, upside_2027q2_acquisition_cash, upside_2027q3_acquisition_cash, upside_2027q4_acquisition_cash).
Cash after conditional acquisition ($M) upside_fy2027_cash_after_acquisition	FY2027 / upside	-31.48 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(upside_2027q1_cash_after_acquisition, upside_2027q2_cash_after_acquisition, upside_2027q3_cash_after_acquisition, upside_2027q4_cash_after_acquisition).

Model boundaries

September 8 revenue and adjusted EBITDA guidance supersedes August earnings guidance. Base Q3 revenue $705M, EBITDA $118.5M and FY2026 revenue $2.765B/EBITDA $485M are calibrated to that update.
Platform revenue and risk-loss decomposition are desk assumptions. Reported ARPAM is annualized and cannot be multiplied by closing members as if all were present for the whole quarter.
MyPay origination volume is not revenue or owned loan assets. The model separately estimates expected losses; historical noncash product-obligation fair-value adjustments are not treated as recurring new cash earnings.
CFO excludes loan purchases net of repayments classified in investing. Cash after funding also deducts that loan investment and both purchased and internally developed software.
Chime remains a fintech using bank partners pending closing. Member deposits at partners and restricted cash are not Chime corporate cash. Stride would require a bank-specific balance-sheet and capital model after completion.
The $590M Stride acquisition is conditional on regulatory approvals, with H1 2027 expected closing. Quarter placement is a timing sensitivity. No acquired revenue, deposits or $100M-plus expected net synergies are booked as already earned.
Cash after acquisition excludes discretionary repurchases, principal repayments and new warehouse financing. It is not a forecast parent cash balance or distributable cash.
No EPS forecast: SBC, buybacks, treasury shares, acquisition accounting and bank capital need a complete ownership bridge.

Member economics and cash before becoming a bank owner

Research reviewed 2026-09-20

Can Chime grow member profitability while funding lending and the proposed Stride acquisition?

Q2 revenue was $669.8M, including $430.0M payments and $239.7M platform revenue. Transaction profit was $491.6M and adjusted EBITDA $101.6M. Active Members reached 10.4M; purchase volume was $38B and MyPay originations $4.5B with a 0.9% loss rate. H1 CFO $295.0M falls to $223.7M after $53.9M net loan purchases and $17.4M PP&E/software cash, before $222.1M buybacks. September 8 superseding guidance raises Q3 revenue to $705M and FY2026 revenue/EBITDA to $2.76-2.77B/$481-489M. The proposed $590M cash purchase of Stride targets H1 2027 closing; expected net synergies above $100M are not current profit.

The competing explanation

Faster credit growth may increase loss and funding needs before member economics mature. Regulatory delay or additional bank capital requirements could reduce acquisition benefits and cash flexibility.

Risks to track

Credit, fraud and transaction dispute losses.
Member acquisition cost and payment yield.
Bank-partner concentration and network rules.
Stride regulatory approval, integration and bank capital.
SBC and buybacks obscure the per-share cash bridge.

Next checkpoints

Q3 revised guidance · Next results; date unconfirmed (estimated). Use September $705M revenue/$117-120M EBITDA outlook, not superseded August ranges.
Stride approval and closing · H1 2027 company expectation (estimated). Confirm regulatory approvals, final consideration and required capital before consolidating the bank.
Lending cash and loss performance · Each quarterly filing (estimated). Track origination versus revenue, credit/dispute losses, net loan purchases and collateral.

Data coverage and open work

September 8 revenue and adjusted EBITDA guidance supersedes August earnings guidance. Base Q3 revenue $705M, EBITDA $118.5M and FY2026 revenue $2.765B/EBITDA $485M are calibrated to that update.
Platform revenue and risk-loss decomposition are desk assumptions. Reported ARPAM is annualized and cannot be multiplied by closing members as if all were present for the whole quarter.
MyPay origination volume is not revenue or owned loan assets. The model separately estimates expected losses; historical noncash product-obligation fair-value adjustments are not treated as recurring new cash earnings.
CFO excludes loan purchases net of repayments classified in investing. Cash after funding also deducts that loan investment and both purchased and internally developed software.
Chime remains a fintech using bank partners pending closing. Member deposits at partners and restricted cash are not Chime corporate cash. Stride would require a bank-specific balance-sheet and capital model after completion.
The $590M Stride acquisition is conditional on regulatory approvals, with H1 2027 expected closing. Quarter placement is a timing sensitivity. No acquired revenue, deposits or $100M-plus expected net synergies are booked as already earned.
Cash after acquisition excludes discretionary repurchases, principal repayments and new warehouse financing. It is not a forecast parent cash balance or distributable cash.
No EPS forecast: SBC, buybacks, treasury shares, acquisition accounting and bank capital need a complete ownership bridge.

This review: Includes September Stride agreement and raised guidance; adds loan-investment and conditional cash-price bridge.

What the memory says

State as of the 2026-09-25 close: in a 120-day uptrend, above its 200-day, off the 52-week high, with overhead supply, quiet volume, closed weak, and peers quiet

300 similar days

Vs the market, in points	Low	Middle	High	Share up
1 session	-2.1	+0.0	+2.1	51%
5 sessions	-5.5	+0.3	+5.7	53%
10 sessions	-7.2	+0.4	+10.0	54%
1 month (21 sessions)	-12.9	+0.6	+15.3	52%
3 months (63 sessions)	-23.7	-0.7	+31.5	49%
6 months (126 sessions)	-30.3	+1.0	+35.2	54%
1 year (252 sessions)	-44.3	+2.6	+55.7	54%

Historical distributions of what followed similar states, measured before today's news. Not a forecast; no side. In the D7 test (403 anchors, 2023-2025) the 1-month band held 76% of outcomes, 3-month 77%, 6-month 76%, 1-year 75%, against a nominal 80%; the analog pool under-represents names that later delisted.

Notes on this name

No published notes on this name yet.

Scorecard: 0 notes scored

Next report: 2026-11-04 (source: estimated from 10-Q filed 2026-08-06 plus 90 days)

Provenance

[1] reported: Revenues, accession 0001795586-25-000019, 10-Q filed 2025-11-10; retrieved 2026-09-26T11:16:29+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001795586.json
[2] derived: Revenues, accession 0001795586-26-000013, 10-K filed 2026-03-06; retrieved 2026-09-26T11:16:29+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001795586.json
[3] reported: Revenues, accession 0001795586-26-000038, 10-Q filed 2026-05-07; retrieved 2026-09-26T11:16:29+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001795586.json
[4] reported: Revenues, accession 0001795586-26-000048, 10-Q filed 2026-08-06; retrieved 2026-09-26T11:16:29+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001795586.json
[5] reported: GrossProfit, accession 0001795586-25-000019, 10-Q filed 2025-11-10; retrieved 2026-09-26T11:16:29+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001795586.json
[6] derived: GrossProfit, accession 0001795586-26-000013, 10-K filed 2026-03-06; retrieved 2026-09-26T11:16:29+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001795586.json
[7] reported: GrossProfit, accession 0001795586-26-000038, 10-Q filed 2026-05-07; retrieved 2026-09-26T11:16:29+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001795586.json
[8] reported: GrossProfit, accession 0001795586-26-000048, 10-Q filed 2026-08-06; retrieved 2026-09-26T11:16:29+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001795586.json
[9] reported: OperatingIncomeLoss, accession 0001795586-25-000019, 10-Q filed 2025-11-10; retrieved 2026-09-26T11:16:29+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001795586.json
[10] derived: OperatingIncomeLoss, accession 0001795586-26-000013, 10-K filed 2026-03-06; retrieved 2026-09-26T11:16:29+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001795586.json
[11] reported: OperatingIncomeLoss, accession 0001795586-26-000038, 10-Q filed 2026-05-07; retrieved 2026-09-26T11:16:29+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001795586.json
[12] reported: OperatingIncomeLoss, accession 0001795586-26-000048, 10-Q filed 2026-08-06; retrieved 2026-09-26T11:16:29+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001795586.json
[13] reported: NetIncomeLoss, accession 0001795586-25-000019, 10-Q filed 2025-11-10; retrieved 2026-09-26T11:16:29+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001795586.json
[14] derived: NetIncomeLoss, accession 0001795586-26-000013, 10-K filed 2026-03-06; retrieved 2026-09-26T11:16:29+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001795586.json
[15] reported: NetIncomeLoss, accession 0001795586-26-000048, 10-Q filed 2026-08-06; retrieved 2026-09-26T11:16:29+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001795586.json
[16] reported: EarningsPerShareDiluted, accession 0001795586-25-000019, 10-Q filed 2025-11-10; retrieved 2026-09-26T11:16:29+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001795586.json
[17] reported: EarningsPerShareDiluted, accession 0001795586-26-000038, 10-Q filed 2026-05-07; retrieved 2026-09-26T11:16:29+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001795586.json
[18] reported: EarningsPerShareDiluted, accession 0001795586-26-000048, 10-Q filed 2026-08-06; retrieved 2026-09-26T11:16:29+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001795586.json
[19] reported: WeightedAverageNumberOfDilutedSharesOutstanding, accession 0001795586-25-000019, 10-Q filed 2025-11-10; retrieved 2026-09-26T11:16:29+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001795586.json
[20] reported: WeightedAverageNumberOfDilutedSharesOutstanding, accession 0001795586-26-000038, 10-Q filed 2026-05-07; retrieved 2026-09-26T11:16:29+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001795586.json
[21] reported: WeightedAverageNumberOfDilutedSharesOutstanding, accession 0001795586-26-000048, 10-Q filed 2026-08-06; retrieved 2026-09-26T11:16:29+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001795586.json
[22] reported: CashAndCashEquivalentsAtCarryingValue, accession 0001795586-25-000019, 10-Q filed 2025-11-10; retrieved 2026-09-26T11:16:29+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001795586.json
[23] reported: CashAndCashEquivalentsAtCarryingValue, accession 0001795586-26-000013, 10-K filed 2026-03-06; retrieved 2026-09-26T11:16:29+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001795586.json
[24] reported: CashAndCashEquivalentsAtCarryingValue, accession 0001795586-26-000038, 10-Q filed 2026-05-07; retrieved 2026-09-26T11:16:29+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001795586.json
[25] reported: CashAndCashEquivalentsAtCarryingValue, accession 0001795586-26-000048, 10-Q filed 2026-08-06; retrieved 2026-09-26T11:16:29+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001795586.json
[26] derived: NetCashProvidedByUsedInOperatingActivities, accession 0001795586-25-000019, 10-Q filed 2025-11-10; retrieved 2026-09-26T11:16:29+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001795586.json
[27] derived: NetCashProvidedByUsedInOperatingActivities, accession 0001795586-26-000013, 10-K filed 2026-03-06; retrieved 2026-09-26T11:16:29+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001795586.json
[28] reported: NetCashProvidedByUsedInOperatingActivities, accession 0001795586-26-000038, 10-Q filed 2026-05-07; retrieved 2026-09-26T11:16:29+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001795586.json
[29] derived: NetCashProvidedByUsedInOperatingActivities, accession 0001795586-26-000048, 10-Q filed 2026-08-06; retrieved 2026-09-26T11:16:29+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001795586.json
[30] derived: PaymentsToAcquirePropertyPlantAndEquipment, accession 0001795586-25-000019, 10-Q filed 2025-11-10; retrieved 2026-09-26T11:16:29+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001795586.json
[31] derived: NetCashProvidedByUsedInOperatingActivities - PaymentsToAcquirePropertyPlantAndEquipment, accession 0001795586-25-000019, 10-Q filed 2025-11-10; retrieved 2026-09-26T11:16:29+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001795586.json

What the author read

H1 cash, revenue, transaction losses and loan investment · retrieved 2026-09-20
Q2 member/payment metrics and reconciliations · retrieved 2026-09-20
September 8 Stride acquisition and superseding guidance · retrieved 2026-09-20

Compiled 2026-09-26T11:16:30.442960+00:00 · authored bd0e20b8e35f · generated 86eb0b115cfa · JSON

Daily notes · Scorecard