Five9 (FIVN) 10-Q2 May 242024 Q1 Quarterly reportFinancial data

Company Profile

Cover Page

Cover Page - shares	3 Months Ended
Cover Page - shares	Mar. 31, 2024	Apr. 26, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2024
Document Transition Report	false
Entity File Number	001-36383
Entity Registrant Name	Five9, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	94-3394123
Entity Address, Address Line One	3001 Bishop Drive
Entity Address, Address Line Two	Suite 350
Entity Address, City or Town	San Ramon
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94583
City Area Code	925
Local Phone Number	201-2000
Title of 12(b) Security	Common stock, par value $0.001 per share
Trading Symbol	FIVN
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		73,867,985
Entity Central Index Key	0001288847
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Amendment Flag	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 240,190	$ 143,201
Marketable investments	843,212	587,096
Accounts receivable, net	103,157	97,424
Prepaid expenses and other current assets	35,627	34,622
Deferred contract acquisition costs, net	67,169	61,711
Total current assets	1,289,355	924,054
Property and equipment, net	113,640	108,572
Operating lease right-of-use assets	36,215	38,873
Finance lease right-of-use assets	4,108	4,564
Intangible assets, net	35,675	38,323
Goodwill	227,269	227,412
Other assets	16,668	16,199
Deferred contract acquisition costs, net — less current portion	148,408	136,571
Total assets	1,871,338	1,494,568
Current liabilities:
Accounts payable	25,671	24,399
Accrued and other current liabilities	79,185	62,131
Operating lease liabilities	9,880	10,731
Finance lease liabilities	1,791	1,767
Deferred revenue	67,019	68,187
Total current liabilities	183,546	167,215
Convertible senior notes	1,160,972	742,125
Operating lease liabilities — less current portion	34,207	36,378
Finance lease liabilities — less current portion	2,414	2,877
Other long-term liabilities	6,601	7,888
Total liabilities	1,387,740	956,483
Commitments and contingencies (Note 10)
Stockholders’ equity:
Common stock	74	73
Additional paid-in capital	895,754	942,280
Accumulated other comprehensive (loss) income	(303)	582
Accumulated deficit	(411,927)	(404,850)
Total stockholders’ equity	483,598	538,085
Total liabilities and stockholders’ equity	$ 1,871,338	$ 1,494,568

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Income Statement [Abstract]
Revenue	$ 247,010	$ 218,439
Cost of revenue	114,530	104,756
Gross profit	132,480	113,683
Operating expenses:
Research and development	41,518	38,108
Sales and marketing	81,109	76,314
General and administrative	30,548	28,258
Total operating expenses	153,175	142,680
Loss from operations	(20,695)	(28,997)
Other income (expense), net:
Interest expense	(2,567)	(1,845)
Gain on early extinguishment of debt	6,615	0
Interest income and other	10,559	4,121
Total other income (expense), net	14,607	2,276
Loss before income taxes	(6,088)	(26,721)
Provision for income taxes	989	527
Net loss	$ (7,077)	$ (27,248)
Net loss per share:
Basic (in USD per share)	$ (0.10)	$ (0.38)
Diluted (in USD per share)	$ (0.10)	$ (0.38)
Shares used in computing net loss per share:
Basic (in shares)	73,488	71,259
Diluted (in shares)	73,488	71,259
Comprehensive Loss:
Net loss	$ (7,077)	$ (27,248)
Other comprehensive (loss) income	(885)	1,727
Comprehensive loss	$ (7,962)	$ (25,521)

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS’ EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit
Beginning balance (in shares) at Dec. 31, 2022		71,047
Beginning balance at Dec. 31, 2022	$ 309,965	$ 71	$ 635,668	$ (2,688)	$ (323,086)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon exercise of stock options (in shares)		139
Issuance of common stock upon exercise of stock options	3,125		3,125
Issuance of common stock upon vesting of restricted stock units (in shares)		358
Issuance of common stock upon vesting of restricted stock units	1	$ 1
Stock-based compensation	51,516		51,516
Other comprehensive income (loss)	1,727			1,727
Net loss	(27,248)				(27,248)
Ending balance (in shares) at Mar. 31, 2023		71,544
Ending balance at Mar. 31, 2023	339,086	$ 72	690,309	(961)	(350,334)
Beginning balance (in shares) at Dec. 31, 2023		73,317
Beginning balance at Dec. 31, 2023	538,085	$ 73	942,280	582	(404,850)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of new capped calls associated with the 2029 convertible senior notes	(93,438)		(93,438)
Partial termination of existing capped calls associated with the 2025 convertible senior notes	539		539
Issuance of common stock upon exercise of stock options (in shares)		14
Issuance of common stock upon exercise of stock options	386		386
Issuance of common stock upon vesting of restricted stock units (in shares)		518
Issuance of common stock upon vesting of restricted stock units	1	$ 1
Stock-based compensation	45,987		45,987
Other comprehensive income (loss)	(885)			(885)
Net loss	(7,077)				(7,077)
Ending balance (in shares) at Mar. 31, 2024		73,849
Ending balance at Mar. 31, 2024	$ 483,598	$ 74	$ 895,754	$ (303)	$ (411,927)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Cash flows from operating activities:
Net loss	$ (7,077)	$ (27,248)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	12,183	11,347
Amortization of operating lease right-of-use assets	3,323	2,934
Amortization of deferred contract acquisition costs	16,269	12,423
Accretion of discount on marketable investments	(4,935)	(1,863)
Provision for credit losses	352	317
Stock-based compensation	44,684	50,743
Amortization of discount and issuance costs on convertible senior notes	1,074	908
Gain on early extinguishment of debt	(6,615)	0
Deferred taxes	248	59
Other	(286)	439
Changes in operating assets and liabilities:
Accounts receivable	(6,085)	(908)
Prepaid expenses and other current assets	(1,003)	(2,307)
Deferred contract acquisition costs	(33,565)	(20,665)
Other assets	(781)	(4,231)
Accounts payable	1,279	1,557
Accrued and other current liabilities	15,832	7,725
Deferred revenue	(1,452)	181
Other liabilities	(1,092)	2,001
Net cash provided by operating activities	32,353	33,412
Cash flows from investing activities:
Purchases of marketable investments	(524,865)	(140,892)
Proceeds from sales of marketable investments	12,517	0
Proceeds from maturities of marketable investments	260,619	76,940
Purchases of property and equipment	(11,951)	(9,928)
Capitalization of software development costs	(3,242)	(1,806)
Cash paid to acquire Aceyus, Inc.	99	0
Net cash used in investing activities	(266,823)	(75,686)
Cash flows from financing activities:
Proceeds from issuance of 2029 convertible senior notes, net of issuance costs	728,873	0
Payments for capped call transactions associated with the 2029 convertible senior notes	(93,438)	0
Repurchase of a portion of 2025 convertible senior notes, net of costs	(304,485)	0
Cash received from partial termination of capped calls associated with the 2025 convertible senior notes	539	0
Proceeds from exercise of common stock options	386	3,125
Payment of finance lease liabilities	(479)	0
Net cash provided by financing activities	331,396	3,125
Net increase (decrease) in cash, cash equivalents and restricted cash	96,926	(39,149)
Cash, cash equivalents and restricted cash:
Beginning of period	144,842	180,987
End of period	241,768	141,838
Supplemental disclosures of cash flow data:
Cash paid for interest	458	2
Cash paid for income taxes	12	32
Non-cash investing and financing activities:
Property and equipment unpaid at period-end	9,335	8,310
Stock-based compensation included in capitalized software development costs	1,303	773
Reconciliation of Cash, Cash Equivalents and Restricted Cash to the Condensed Consolidated Balance Sheets
Cash and cash equivalents	240,190	141,359
Restricted cash in other assets	1,578	479
Total cash, cash equivalents and restricted cash	$ 241,768	$ 141,838

Description of Business and Sum

Description of Business and Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Description of Business and Summary of Significant Accounting Policies	Description of Business and Summary of Significant Accounting Policies Five9, Inc. and its wholly-owned subsidiaries (the “Company”) is a provider of cloud software for contact centers. The Company was incorporated in Delaware in 2001 and is headquartered in San Ramon, California. The Company has offices in Europe, Asia and Australia, which primarily provide research, development, sales, marketing, and client support services. Basis of Presentation The accompanying condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) and applicable rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting. Certain information and note disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. Therefore, these condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023. In the opinion of management, the condensed consolidated financial statements reflect all adjustments, which are normal and recurring in nature, necessary for fair financial statement presentation. All intercompany transactions and balances have been eliminated in consolidation. Use of Estimates The preparation of condensed consolidated financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. The significant estimates made by management affect revenue and related reserves, as well as the fair value of assets acquired and liabilities assumed through business combinations and the fair value of performance-based restricted stock units ("PRSUs"). Management periodically evaluates such estimates and they are adjusted prospectively based upon such periodic evaluation. Actual results could differ from those estimates. Significant Accounting Policies There have been no material changes from the significant accounting policies previously disclosed in Part II, Item 8, of the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2023 as filed with the SEC on February 22, 2024. Recent Accounting Pronouncements Not Yet Effective In November 2023, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standard Update (“ ASU”) No. 2023-07, Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures , which provides updates to qualitative and quantitative reportable segment disclosure requirements, including enhanced disclosures about significant segment expenses and increased interim disclosure requirements, among others. This ASU is effective for the Company’s fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted, and the amendments should be applied retrospectively. The Company is currently evaluating the impact of this ASU on its consolidated financial statement disclosures. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures . This ASU requires disclosure of specific categories in the effective tax rate reconciliation and additional information on income taxes paid. This ASU is effective for the Company’s fiscal years beginning after December 15, 2024. Early adoption is permitted and may be adopted on a prospective or retrospective basis. The Company is currently evaluating the impact of this ASU on its consolidated financial statement disclosures.

Revenue

Revenue	3 Months Ended
Revenue	Mar. 31, 2024
Revenue from Contract with Customer [Abstract]
Revenue	Revenue Contract Balances The following table provides information about accounts receivable, net, deferred contract acquisition costs, net, contract assets and contract liabilities from contracts with customers (in thousands): March 31, 2024 December 31, 2023 Accounts receivable, net $ 103,157 $ 97,424 Deferred contract acquisition costs, net: Current $ 67,169 $ 61,711 Non-current 148,408 136,571 Total deferred contract acquisition costs, net $ 215,577 $ 198,282 Contract assets and contract liabilities: Contract assets (included in prepaid expenses and other current assets) $ 652 $ 4,106 Contract liabilities (deferred revenue) (67,019) (68,187) Noncurrent contract liabilities (deferred revenue) (included in other long-term liabilities) (1,066) (1,350) Net contract liabilities $ (67,433) $ (65,431) The Company receives payments from customers based upon billing cycles. Invoice payment terms are usually 30 days or less. Accounts receivable are recorded when the right to consideration becomes unconditional. Deferred contract acquisition costs are recorded when incurred and are amortized over an estimated customer benefit period of five years. The Company’s contract assets consist of unbilled amounts typically resulting from professional services revenue recognition when it exceeds the total amounts billed to the customer. The Company’s contract liabilities consist of advance payments and billings in excess of revenue recognized. In the three months ended March 31, 2024, the Company recognized revenue of $35.6 million related to its contract liabilities at December 31, 2023. Remaining Performance Obligations As of March 31, 2024, the aggregate amount of the total transaction price allocated in contracts with original duration of greater than one year to the remaining performance obligations was $1,048.6 million. The Company expects to recognize revenue on approximately three-fourths of the remaining performance obligations over the next 24 months, with the balance recognized thereafter. The Company excludes amounts for remaining performance obligations that are part of contracts with an original expected duration of one year or less. Such remaining performance obligations represent unsatisfied or partially unsatisfied performance obligations.

Investments and Fair Value Meas

Investments and Fair Value Measurements	3 Months Ended
Investments and Fair Value Measurements	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Investments and Fair Value Measurements	Investments and Fair Value Measurements Marketable Investments The Company’s marketable investments have been classified and accounted for as available-for-sale. The Company’s intent is that all marketable investments are available for use in its current operations, including marketable investments with maturity dates greater than one year from March 31, 2024. The Company’s marketable investments as of March 31, 2024 and December 31, 2023 were as follows (in thousands): March 31, 2024 Short-Term Marketable Investments Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Certificates of deposit $ 1,220 $ 1 $ — $ 1,221 U.S. treasury securities 581,951 12 (640) 581,323 U.S. agency and government-sponsored securities 197,191 23 (130) 197,084 Commercial paper 32,768 1 (23) 32,746 Municipal bonds 1,925 — (1) 1,924 Corporate bonds 28,975 2 (63) 28,914 Total $ 844,030 $ 39 $ (857) $ 843,212 December 31, 2023 Short-Term Marketable Investments Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Certificates of deposit $ 1,463 $ — $ — $ 1,463 U.S. treasury securities 315,608 191 (362) 315,437 U.S. agency and government-sponsored securities 239,358 78 (177) 239,259 Commercial paper 17,382 9 — 17,391 Municipal bonds 927 1 — 928 Corporate bonds 12,630 4 (16) 12,618 Total $ 587,368 $ 283 $ (555) $ 587,096 The following table presents the gross unrealized losses and the fair value for those marketable investments that were in an unrealized loss position for less than 12 months as of March 31, 2024 and December 31, 2023 (in thousands): March 31, 2024 December 31, 2023 Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value U.S. treasury securities $ (640) $ 469,875 $ (362) $ 79,644 U.S. agency and government-sponsored securities (130) 126,023 (177) 165,493 Commercial paper (23) 31,559 — — Municipal bonds (1) 1,924 — — Corporate bonds (63) 24,840 (16) 7,550 Total $ (857) $ 654,221 $ (555) $ 252,687 Although the Company had certain available-for-sale debt securities in an unrealized loss position as of March 31, 2024, no impairment loss was recorded since it did not intend to sell them, did not anticipate a need to sell them, and the decline in fair value was not due to any credit-related factors. The amortized cost and fair value of the Company’s marketable investments by contractual maturity as of March 31, 2024 were as follows (in thousands): Cost Fair Value Due within one year $ 682,459 $ 681,865 Due after one year through two years 161,571 161,347 Total $ 844,030 $ 843,212 Fair Value Measurements The Company carries cash equivalents and marketable investments at fair value. Fair value is based on the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value is estimated by applying the following hierarchy, which prioritizes the inputs used to measure fair value into three levels and bases the categorization within the hierarchy upon the lowest level of input that is available and significant to the fair value measurement: Level 1 — Observable inputs, which include unadjusted quoted prices in active markets for identical assets or liabilities. Level 2 — Observable inputs other than Level 1 inputs, such as quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 — Unobservable inputs that are supported by little or no market activity and that are based on management’s assumptions, including fair value measurements determined by using pricing models, discounted cash flow methodologies or similar techniques. The Company determined the fair value of its Level 1 financial instruments, which are traded in active markets, using quoted market prices for identical instruments. Marketable investments classified within Level 2 of the fair value hierarchy are valued based on other observable inputs, including broker or dealer quotations or alternative pricing sources. When quoted prices in active markets for identical assets or liabilities are not available, the Company relies on non-binding quotes from its investment managers, which are based on proprietary valuation models of independent pricing services. These models generally use inputs such as observable market data, quoted market prices for similar instruments, historical pricing trends of a security as relative to its peers. To validate the fair value determination provided by its investment managers, the Company reviews the pricing movement in the context of overall market trends and trading information from its investment managers. The Company performs routine procedures such as comparing prices obtained from independent sources to ensure that appropriate fair values are recorded. The following tables set forth the Company’s assets measured at fair value by level within the fair value hierarchy (in thousands): March 31, 2024 Level 1 Level 2 Level 3 Total Assets Cash equivalents Money market funds $ 93,396 $ — $ — $ 93,396 Certificates of deposit — 488 — 488 U.S. treasury securities 67,030 — — 67,030 U.S. agency and government sponsored securities — 1,058 — 1,058 Total cash equivalents $ 160,426 $ 1,546 $ — $ 161,972 Marketable investments Certificates of deposit $ — $ 1,221 $ — $ 1,221 U.S. treasury securities 581,323 — — 581,323 U.S. agency and government sponsored securities — 197,084 — 197,084 Commercial paper — 32,746 — 32,746 Municipal bonds — 1,924 — 1,924 Corporate bonds — 28,914 — 28,914 Total marketable investments $ 581,323 $ 261,889 $ — $ 843,212 December 31, 2023 Level 1 Level 2 Level 3 Total Assets Cash equivalents Money market funds $ 66,661 $ — $ — $ 66,661 Certificates of deposit — 493 — 493 U.S. treasury securities 4,983 — — 4,983 Commercial paper — 1,498 — 1,498 Total cash equivalents $ 71,644 $ 1,991 $ — $ 73,635 Marketable investments Certificates of deposit $ — $ 1,463 $ — $ 1,463 U.S. treasury securities 315,437 — — 315,437 U.S. agency and government-sponsored securities — 239,259 — 239,259 Commercial paper — 17,391 — 17,391 Municipal bonds — 928 — 928 Corporate bonds — 12,618 — 12,618 Total marketable investments $ 315,437 $ 271,659 $ — $ 587,096 In March 2024, the Company issued $747.5 million aggregate principal amount of 1.00% convertible senior notes due 2029 (the "2029 convertible senior notes") in a private offering. In connection with the issuance of the 2029 convertible senior notes, the Company used part of the net proceeds from the issuance to repurchase approximately $313.1 million aggregate principal amount of its 0.50% convertible senior notes due 2025 (the "2025 convertible senior notes"). As of March 31, 2024 and December 31, 2023, the estimated fair value of the Company's outstanding 2025 convertible senior notes was $409.9 million and $718.3 million, respectively. As of March 31, 2024, the estimated fair value of the Company's outstanding 2029 convertible senior notes was $775.2 million. The fair values were determined based on the quoted price of the convertible senior notes in an inactive market on the last trading day of the reporting period and have been classified as Level 2 in the fair value hierarchy. See Note 6 for further information on the Company’s convertible senior notes. In February 2022, the Company made a $2.0 million equity investment in a privately-held company that the Company does not have the ability to exercise significant influence over. The Company elected to utilize the measurement alternative for an equity security without a readily determinable fair value. Accordingly, this investment is accounted for at its cost minus impairment, if any, and is classified within Level 3. If the Company identifies observable price changes in orderly transactions for such investment or a similar investment, it will measure the investment at fair value as of the date that the observable transactions or events occurred. The Company concluded that there was no indicator of impairment of this investment as of March 31, 2024. Except for the $2.0 million equity investment described above, there were no assets or liabilities measured at fair value on a non-recurring basis as of March 31, 2024 and December 31, 2023. The fair value of the Company’s other financial instruments, including accounts receivable, accounts payable and other current liabilities, approximate their carrying value due to the relatively short maturity of those instruments. The carrying amounts of the Company’s operating and finance leases approximate their fair value, which is the present value of expected future cash payments based on assumptions about current interest rates and the creditworthiness of the Company.

Financial Statement Components

Financial Statement Components	3 Months Ended
Financial Statement Components	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Financial Statement Components	Financial Statement Components Cash and cash equivalents consisted of the following (in thousands): March 31, 2024 December 31, 2023 Cash $ 78,218 $ 69,566 Money market funds 93,396 66,661 Certificates of deposit 488 493 U.S. treasury securities 67,030 4,983 U.S. agency and government sponsored securities 1,058 — Commercial paper — 1,498 Total cash and cash equivalents $ 240,190 $ 143,201 Accounts receivable, net consisted of the following (in thousands): March 31, 2024 December 31, 2023 Trade accounts receivable $ 93,524 $ 86,912 Unbilled trade accounts receivable, net of advance client deposits 9,914 10,776 Provision for credit losses (281) (264) Accounts receivable, net $ 103,157 $ 97,424 As of March 31, 2024 and December 31, 2023, there was one client that represented 11% of accounts receivable. Prepaid expenses and other current assets consisted of the following (in thousands): March 31, 2024 December 31, 2023 Prepaid expenses $ 26,148 $ 22,023 Other current assets 8,827 8,493 Contract assets 652 4,106 Prepaid expenses and other current assets $ 35,627 $ 34,622 Property and equipment, net consisted of the following (in thousands): March 31, 2024 December 31, 2023 Computer and network equipment $ 161,960 $ 155,997 Computer software 61,993 59,452 Internal-use software development costs 24,279 19,734 Furniture and fixtures 4,705 4,666 Leasehold improvements 6,440 6,425 Property and equipment 259,377 246,274 Accumulated depreciation and amortization (145,737) (137,702) Property and equipment, net $ 113,640 $ 108,572 Depreciation and amortization expense associated with property and equipment was $9.5 million and $8.5 million for the three months ended March 31, 2024 and 2023, respectively. Other assets consisted of the following (in thousands): March 31, 2024 December 31, 2023 Other assets $ 11,150 $ 10,433 Equity investment in a privately-held company 2,000 2,000 Deferred tax assets 3,518 3,766 Other assets $ 16,668 $ 16,199 Accrued and other current liabilities consisted of the following (in thousands): March 31, 2024 December 31, 2023 Accrued expenses $ 18,130 $ 18,282 Accrued compensation and benefits 53,525 35,927 Accrued federal fees 4,651 4,166 Sales tax liabilities 2,879 3,756 Accrued and other current liabilities $ 79,185 $ 62,131 Other long-term liabilities consisted of the following (in thousands): March 31, 2024 December 31, 2023 Deferred revenue $ 1,066 $ 1,350 Sales tax liabilities 933 926 Other long-term liabilities 4,602 5,612 Other long-term liabilities $ 6,601 $ 7,888

Goodwill and Intangible Assets

Goodwill and Intangible Assets	3 Months Ended
Goodwill and Intangible Assets	Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets Goodwill of $61.8 million and intangible assets of $22.1 million were recognized as a result of the Company's acquisition of Aceyus, Inc. ("Aceyus") in August 2023. See Note 13 for further details. The following table summarizes the activity in the Company's goodwill and intangible asset balances during the three months ended March 31, 2024 (in thousands): Goodwill Intangible Assets Beginning of the period, December 31, 2023 $ 227,412 $ 38,323 Measurement period adjustment (Aceyus) (143) — Amortization — (2,648) End of the period, March 31, 2024 $ 227,269 $ 35,675 The components of intangible assets were as follows (in thousands): March 31, 2024 December 31, 2023 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Weighted Average Remaining Amortization period (Years) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Weighted Average Remaining Amortization period (Years) Developed technology $ 75,314 $ (42,725) $ 32,589 5.1 $ 75,314 $ (40,327) $ 34,987 5.2 Acquired workforce 470 (470) — 0.0 470 (470) — 0.0 Customer relationships 4,150 (1,460) 2,690 3.9 4,150 (1,252) 2,898 4.1 Trademarks 500 (104) 396 2.4 1,000 (562) 438 2.6 Total $ 80,434 $ (44,759) $ 35,675 5.0 $ 80,934 $ (42,611) $ 38,323 5.1 Amortization expense related to intangible assets was $2.6 million and $2.8 million for the three months ended March 31, 2024 and 2023, respectively. As of March 31, 2024, the expected future amortization expense for intangible assets was as follows (in thousands): Period Expected Future Amortization Expense Remaining 2024 $ 7,943 2025 8,660 2026 7,201 2027 2,898 2028 2,706 Thereafter 6,267 Total $ 35,675

Debt

Debt	3 Months Ended
Debt	Mar. 31, 2024
Debt Disclosure [Abstract]
Debt	Debt Repurchase Transaction In connection with the issuance of the 2029 convertible senior notes on March 1, 2024, the Company used part of the net proceeds from the issuance to repurchase approximately $313.1 million aggregate principal amount of the outstanding 2025 convertible senior notes in privately-negotiated transactions for aggregate cash consideration of approximately $304.9 million (the “Repurchase Transaction”). The Repurchase Transaction was accounted for as a debt extinguishment. The difference between the consideration used to extinguish the 2025 convertible senior notes and the carrying value of the 2025 convertible senior notes (including unamortized debt discount and issuance costs) resulted in an extinguishment gain of approximately $6.6 million recorded through Other income (expense), net on the Company’s condensed consolidated statements of operations and comprehensive loss. In connection with the Repurchase Transaction, the Company also entered into a partial termination agreement with each bank counterparty and unwound a corresponding portion of the previously purchased capped call instruments entered into in connection with the issuance of the 2025 convertible senior notes (the “2025 Capped Calls”). The Company received approximately $0.5 million in cash in connection with these partial terminations, representing the fair value at the date of settlement of the unwound 2025 Capped Calls. 2029 Convertible Senior Notes and Related Capped Call Transactions In March 2024, the Company issued $747.5 million aggregate principal amount of 2029 convertible senior notes in a private offering, which aggregate principal amount included the exercise in full of the initial purchasers’ option to purchase up to an additional $97.5 million principal amount of the 2029 convertible senior notes. The 2029 convertible senior notes mature on March 15, 2029 and bear interest at a fixed rate of 1.00% per annum, payable semiannually in arrears on March 15 and September 15 of each year, beginning on September 15, 2024. The total net proceeds from the issuance of the 2029 convertible senior notes, after deducting initial purchasers' discounts and commissions and estimated debt issuance costs, were approximately $728.9 million. Each $1,000 principal amount of the 2029 convertible senior notes is initially convertible into 12.5918 shares of the Company’s common stock (the “2029 Conversion Option”), which is equivalent to an initial conversion price of approximately $79.42 per share of common stock, subject to adjustment upon the occurrence of specified events. The initial conversion price represents a premium of approximately 30% to the $61.09 per share closing price of the Company’s common stock on The Nasdaq Global Market on February 27, 2024. There have been no changes to the initial conversion price of the 2029 convertible senior notes since issuance. The 2029 convertible senior notes are convertible, in multiples of $1,000 principal amount, at the option of the holders prior to the close of business on the business day immediately preceding December 15, 2028, only under the following circumstances: (1) during any calendar quarter commencing after the calendar quarter ending on June 30, 2024 (and only during such calendar quarter), if the last reported sale price of the Company’s common stock for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the conversion price on each applicable trading day; (2) during the five business day period after any five consecutive trading day period (the “2029 Measurement Period”) in which the trading price (as defined in the 2029 Indenture governing the 2029 convertible senior notes) per $1,000 principal amount of the 2029 convertible senior notes for each trading day of the 2029 Measurement Period was less than 98% of the product of the last reported sale price of the Company’s common stock and the conversion rate in effect on each such trading day; (3) if the Company calls any or all of the 2029 convertible senior notes for redemption, at any time prior to the close of business on the second scheduled trading day immediately preceding the redemption date; or (4) upon the occurrence of specified corporate events. On or after December 15, 2028 until the close of business on the second scheduled trading day immediately preceding the maturity date, holders may convert all or any portion of their 2029 convertible senior notes, in multiples of $1,000 principal amount, at the option of the holder regardless of the foregoing circumstances. Upon conversion, the Company will pay or deliver, as the case may be, cash, shares of the Company’s common stock or a combination of cash and shares of the Company’s common stock, at the Company’s election. If the Company undergoes a fundamental change (as defined in the indenture governing the 2029 convertible senior notes), subject to certain conditions, holders may require the Company to repurchase for cash all or any portion of their 2029 convertible senior notes, in principal amounts of $1,000 or a multiple thereof, at a fundamental change repurchase price equal to 100% of the principal amount of the 2029 convertible senior notes to be repurchased, plus accrued and unpaid interest, if any, to, but excluding, the fundamental change repurchase date. In addition, following certain corporate events or if the Company issues a notice of redemption, it will, under certain circumstances, increase the conversion rate for holders who elect to convert their notes in connection with such corporate event or during the relevant redemption period. The Company may not redeem the 2029 convertible senior notes prior to March 22, 2027. The Company may redeem for cash all or any portion of the 2029 convertible senior notes, at its option, on or after March 22, 2027 and prior to December 15, 2028, if the last reported sale price of its common stock has been at least 130% of the conversion price then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period (including the last trading day of such period) ending on, and including, the trading day immediately preceding the date on which the Company provides notice of redemption at a redemption price equal to 100% of the principal amount of the 2029 convertible senior notes to be redeemed, plus accrued and unpaid interest, if any, to, but excluding, the redemption date. However, the Company may not redeem less than all of the outstanding 2029 convertible senior notes unless at least $100.0 million aggregate principal amount of 2029 convertible senior notes are outstanding and not called for redemption at the time the redemption notice is sent. No sinking fund is provided for the 2029 convertible senior notes. The 2029 convertible senior notes are the Company’s senior unsecured obligations and rank senior in right of payment to any of the Company’s indebtedness that is expressly subordinated in right of payment to the 2029 convertible senior notes; equal in right of payment to any of the Company’s unsecured indebtedness that is not so subordinated (including the 2025 convertible senior notes); effectively junior in right of payment to any of the Company’s secured indebtedness to the extent of the value of the assets securing such indebtedness; and structurally junior to all indebtedness and other liabilities. The net carrying amount of the 2029 convertible senior notes as of March 31, 2024 was as follows (in thousands): March 31, 2024 Principal $ 747,500 Unamortized issuance costs (18,343) Net carrying amount $ 729,157 Interest expense related to the 2029 convertible senior notes was as follows (in thousands): Three Months Ended March 31, 2024 Contractual interest expense $ 623 Amortization of issuance costs 284 Total interest expense $ 907 The debt issuance costs are amortized into interest expense over the term of the 2029 convertible senior notes at an effective interest rate of 1.49%. In connection with the issuance of the 2029 convertible senior notes, the Company entered into privately negotiated capped call transactions (each a “2029 Capped Call,” and collectively the "2029 Capped Calls") with certain financial institutions. The 2029 Capped Call has an initial strike price of approximately $79.42, subject to certain adjustments, which corresponds to the initial conversion price of the 2029 convertible senior notes. The 2029 Capped Calls have an initial cap price of $122.18 per share, subject to certain adjustments. The 2029 Capped Calls are expected to partially offset the potential dilution to the Company’s common stock upon any conversion of the 2029 convertible senior notes, with such offset subject to a cap based on the cap price. Each 2029 Capped Call covers, subject to anti-dilution adjustments, approximately 9.4 million shares of the Company’s common stock. The 2029 Capped Call is subject to adjustment upon the occurrence of specified extraordinary events affecting the Company, including merger events, tender offers, and announcement events. In addition, each 2029 Capped Call is subject to certain specified additional disruption events that may give rise to a termination of the 2029 Capped Calls, including nationalization, insolvency or delisting, changes in law, failures to deliver, insolvency filings, and hedging disruptions. For accounting purposes, each 2029 Capped Call is treated as a separate transaction from, and not part of the terms of the 2029 convertible senior notes. As these transactions meet certain accounting criteria, the 2029 Capped Calls are recorded in stockholders' equity and are not accounted for as derivatives. The 2029 Capped Calls will not be remeasured as long as they continue to meet the conditions for equity classification. 2025 Convertible Senior Notes and Related Capped Call Transactions In May and June 2020, the Company issued $747.5 million aggregate principal amount of 2025 convertible senior notes in a private offering, which aggregate principal amount included the exercise in full of the initial purchasers’ option to purchase up to an additional $97.5 million principal amount of the 2025 convertible senior notes. The 2025 convertible senior notes mature on June 1, 2025 and bear interest at a fixed rate of 0.500% per annum, payable semiannually in arrears on June 1 and December 1 of each year, beginning on December 1, 2020. The total net proceeds from the issuance of the 2025 convertible senior notes, after deducting initial purchasers' discounts and commissions and estimated debt issuance costs, were approximately $728.8 million. In March 2024, the Company used part of the net proceeds from the issuance of the 2029 convertible senior notes to repurchase $313.1 million aggregate principal amount of the 2025 convertible senior notes in privately-negotiated transactions. As of March 31, 2024, after giving effect to the Repurchase Transaction, approximately $434.4 million aggregate principal amount of 2025 convertible senior notes remained outstanding. Each $1,000 principal amount of the 2025 convertible senior notes is initially convertible into 7.4437 shares of the Company’s common stock (the “2025 Conversion Option”), which is equivalent to an initial conversion price of approximately $134.34 per share of common stock, subject to adjustment upon the occurrence of specified events. The initial conversion price represents a premium of approximately 30% to the $103.34 per share closing price of the Company’s common stock on The Nasdaq Global Market on May 21, 2020. The 2025 convertible senior notes are convertible, in multiples of $1,000 principal amount, at the option of the holders prior to the close of business on the business day immediately preceding March 1, 2025, only under the following circumstances: (1) during any calendar quarter commencing after the calendar quarter ending on September 30, 2020 (and only during such calendar quarter), if the last reported sale price of the Company’s common stock for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the conversion price on each applicable trading day; (2) during the five business day period after any five consecutive trading day period (the “2025 Measurement Period”) in which the trading price (as defined in the 2025 Indenture governing the 2025 convertible senior notes) per $1,000 principal amount of the 2025 convertible senior notes for each trading day of the 2025 Measurement Period was less than 98% of the product of the last reported sale price of the Company’s common stock and the conversion rate in effect on each such trading day; (3) if the Company calls any or all of the 2025 convertible senior notes for redemption, at any time prior to the close of business on the second scheduled trading day immediately preceding the redemption date; or (4) upon the occurrence of specified corporate events. On or after March 1, 2025 until the close of business on the second scheduled trading day immediately preceding the maturity date, holders may convert all or any portion of their 2025 convertible senior notes, in multiples of $1,000 principal amount, at the option of the holder regardless of the foregoing circumstances. Upon conversion, the Company will pay or deliver, as the case may be, cash, shares of the Company’s common stock or a combination of cash and shares of the Company’s common stock, at the Company’s election. If the Company undergoes a fundamental change (as defined in the indenture governing the 2025 convertible senior notes), subject to certain conditions, holders may require the Company to repurchase for cash all or any portion of their 2025 convertible senior notes, in principal amounts of $1,000 or a multiple thereof, at a fundamental change repurchase price equal to 100% of the principal amount of the 2025 convertible senior notes to be repurchased, plus accrued and unpaid interest, if any, to, but excluding, the fundamental change repurchase date. In addition, following certain corporate events or if the Company issues a notice of redemption, it will, under certain circumstances, increase the conversion rate for holders who elect to convert their notes in connection with such corporate event or during the relevant redemption period. There have been no changes to the initial conversion price of the 2025 convertible senior notes since issuance. The closing market price of the Company's common stock of $62.11 per share on March 31, 2024, the last trading day during the three months ended March 31, 2024, was below $174.64 per share, which represents 130% of the initial conversion price of $134.34 per share. Additionally, the last reported sale price of the Company’s common stock for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on, and including, the last trading day, March 31, 2024, was not greater than or equal to 130% of the initial conversion price. As such, during the three months ended March 31, 2024, the conditions allowing holders of the 2025 convertible senior notes to convert were not met. The 2025 convertible senior notes are therefore not convertible during the three months ending June 30, 2024. The 2025 convertible senior notes became redeemable at the Company's option on June 6, 2023. The Company may redeem for cash all or any portion of the 2025 convertible senior notes, at its option, prior to March 1, 2025, if the last reported sale price of its common stock has been at least 130% of the conversion price then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period (including the last trading day of such period) ending not more than two trading days immediately preceding the date on which the Company provides notice of redemption at a redemption price equal to 100% of the principal amount of the 2025 convertible senior notes to be redeemed, plus accrued and unpaid interest, if any, to, but excluding, the redemption date. No sinking fund is provided for the 2025 convertible senior notes. During the three months ended March 31, 2024, the conditions allowing the Company to redeem for cash all or any portion of the 2025 convertible senior notes were not met. The 2025 convertible senior notes are the Company’s senior unsecured obligations and rank senior in right of payment to any of the Company’s indebtedness that is expressly subordinated in right of payment to the 2025 convertible senior notes; equal in right of payment to any of the Company’s unsecured indebtedness that is not so subordinated; effectively junior in right of payment to any of the Company’s secured indebtedness to the extent of the value of the assets securing such indebtedness; and structurally junior to all indebtedness and other liabilities (including trade payables) of the Company’s subsidiaries. The net carrying amount of the 2025 convertible senior notes as of March 31, 2024 and as of December 31, 2023 was as follows (in thousands): March 31, 2024 December 31, 2023 Principal $ 747,500 $ 747,500 Unamortized issuance costs (2,590) (5,375) Principal repaid (313,095) — Net carrying amount $ 431,815 $ 742,125 Interest expense related to the 2025 convertible senior notes was as follows (in thousands): Three Months Ended March 31, 2024 March 31, 2023 Contractual interest expense $ 804 $ 934 Amortization of issuance costs 790 908 Total interest expense $ 1,594 $ 1,842 The debt issuance costs are amortized into interest expense over the term of the 2025 convertible senior notes at an effective interest rate of 1.00%. In connection with the issuance of the 2025 convertible senior notes, the Company entered into privately negotiated capped call transactions (each a “2025 Capped Call,” and collectively the "2025 Capped Calls") with certain financial institutions. The 2025 Capped Calls each have an initial strike price of approximately $134.34, which corresponds to the initial conversion price of the 2025 convertible senior notes. The initial cap price of the 2025 Capped Calls was $206.68 per share and is subject to certain adjustments under the terms of the 2025 Capped Calls. In connection with the Repurchase Transaction, the Company unwound a portion of the 2025 Capped Calls. Refer to the Repurchase Transaction section above for further information. There are no changes or amendments made to the remaining 2025 Capped Calls. The remaining 2025 Capped Calls cover, subject to anti-dilution adjustments, approximately 3.2 million shares of the Company’s common stock. Each 2025 Capped Call is subject to adjustment upon the occurrence of specified extraordinary events affecting the Company, including merger events, tender offers, and announcement events. In addition, each 2025 Capped Call is subject to certain specified additional disruption events that may give rise to a termination of each 2025 Capped Call, including nationalization, insolvency or delisting, changes in law, failures to deliver, insolvency filings, and hedging disruptions. For accounting purposes, each 2025 Capped Call is a separate transaction from, and not part of the terms of the 2025 convertible senior notes. As these transactions meet certain accounting criteria, the 2025 Capped Calls are recorded in stockholders' equity and are not accounted for as derivatives. The 2025 Capped Calls will not be remeasured as long as they continue to meet the conditions for equity classification.

Stockholders' Equity

Stockholders' Equity	3 Months Ended
Stockholders' Equity	Mar. 31, 2024
Equity [Abstract]
Stockholders' Equity	Stockholders’ Equity Capital Structure Common Stock The Company is authorized to issue 450,000,000 shares of common stock with a par value of $0.001 per share. As of March 31, 2024 and December 31, 2023, the Company had 73,849,081 and 73,316,968 shares of common stock issued and outstanding, respectively. Preferred Stock The Company is authorized to designate and issue up to 5,000,000 shares of preferred stock with a par value of $0.001 per share in one or more series without stockholder approval and to fix the rights, preferences, privileges and restrictions thereof. As of March 31, 2024 and December 31, 2023, there were no shares of preferred stock issued and outstanding. Common Stock Reserved for Future Issuance Shares of common stock reserved for future issuance related to outstanding equity awards and employee equity incentive plans as of March 31, 2024 were as follows (in thousands): March 31, 2024 Stock options outstanding 902 RSUs (including PRSUs) outstanding 5,705 Shares available for future grant under 2014 Plan 17,173 Shares available for future issuance under ESPP 4,670 Total shares of common stock reserved 28,450 Stock Options A summary of the Company’s stock option activity during the three months ended March 31, 2024 is as follows (in thousands, except per share data): Number of Weighted Weighted Aggregate Outstanding as of December 31, 2023 918 $ 55.96 Options granted — — Options exercised (14) 26.85 Options forfeited or expired (2) 174.78 Outstanding as of March 31, 2024 902 $ 56.23 4.5 $ 22,648 The aggregate intrinsic value amounts are computed based on the difference between the exercise price of the stock options and the fair market value of the Company’s common stock of $62.11 per share as of March 28, 2024 for all in-the-money stock options outstanding. Restricted Stock Units (including PRSUs) A summary of the Company’s restricted stock unit ("RSU") activity, including PRSUs, during the three months ended March 31, 2024 is as follows (in thousands, except per share data): Number of Shares Weighted Average Grant Date Fair Value Per Share Outstanding as of December 31, 2023 4,076 $ 83.25 RSUs granted (1) 2,210 59.04 RSUs vested and released (518) 82.33 RSUs forfeited or cancelled (63) 87.09 Outstanding as of March 31, 2024 5,705 73.57 (1) Includes 159,016 PRSUs granted during the three months ended March 31, 2024. PRSUs with Market and Service Conditions In 2022, the Company granted 284,282 PRSUs subject to market and service conditions (“market-based PRSUs”) with a grant date fair value of $30.6 million as part of its annual grant of equity incentive awards to certain executives and in connection with the appointment of Michael Burkland as its new Chief Executive Officer. In 2023, the Company granted 35,921 market-based PRSUs with a grant date fair value of $3.1 million. During the three months ended March 31, 2024, the Company granted an additional 159,016 market-based PRSUs with a grant date fair value of $9.6 million. The amount that may be earned pursuant to the market-based PRSUs ranges from 0% to 200% of the target number based on the Company’s relative total shareholder return (“RTSR”) performance as compared to the companies in the S&P Software and Services Select Index during three one-year performance periods. One-third of the total market-based PRSUs may be earned and settled in shares following the end of each performance period based on RTSR performance and subject to continued employment through the payment date. If the Company’s absolute total shareholder return for any performance period is negative, then no more than 100% of the target amount of market-based PRSUs for such period may be earned. If an executive's employment with the Company terminates before the end of the final one-year performance period due to death or disability, 100% (if due to death) or 50% (if due to disability) of the unvested market-based PRSUs may be earned subject to ultimate RTSR performance in each remaining performance period. Upon a qualifying termination of employment in connection with a change in control of the Company, the unvested market-based PRSUs will vest on a double-trigger basis (i) at the target level for the market-based PRSUs subject to the 2022-2024 performance period, (ii) for the market-based PRSUs subject to the 2023-2025 performance period, and (iii) for the market-based PRSUs subject to the 2024-2026 performance period, (a) at the target level for the uncompleted portions of the performance periods and (b) at the actual level of performance measured through the date of the change in control of the Company, based on the price per share paid in such change in control. The fair value of the market-based PRSUs is determined on their grant date using a Monte Carlo Simulation model based upon assumptions presented below. The Company recognizes the fair value of the market-based PRSUs ratably over their requisite service period. During the first quarter of 2023, the Company certified the performance results for the 2022 measurement period for the market-based PRSUs subject to the 2022-2024 performance period. Under the market-based PRSU agreements, the TSR payout percentage ranges from 0% to 200%, with a 50% payout at the 25th TSR percentile (threshold), 100% payout at the 55th TSR percentile (target), 200% payout at the 90th percentile or greater (maximum) and no payout below the threshold performance level. The Company determined that its actual total shareholder return was -52.64% for 2022, and that its relative total shareholder return ranking was in the 30.2 percentile relative to companies in the S&P Software & Services Select Index, which resulted in a payout percentage of 58.7% of target. During the first quarter of 2024, the Company certified the performance results for the 2023 measurement period for the market-based PRSUs subject to the 2022-2024 performance period. The Company determined that its actual total shareholder return was 19.95% for 2023, and that its relative total shareholder return ranking was in the 53.8 percentile relative to companies in the S&P Software & Services Select Index, which resulted in a payout percentage of 98.0% of target. During the first quarter of 2024, the Company also certified the performance results for the 2023 measurement period for the market-based PRSUs subject to the 2023-2025 performance period. The Company determined that its actual total shareholder return was 19.95% for 2023, and that its relative total shareholder return ranking was in the 50.5 percentile relative to companies in the S&P Software & Services Select Index, which resulted in a payout percentage of 92.5% of target. PRSUs with Revenue and Service Conditions In 2022, the Company granted 66,167 PRSUs subject to revenue-based performance and service conditions (“revenue-based PRSUs”) with a grant date fair value of $6.6 million. The amount of revenue-based PRSUs that may be earned will be determined based on achievement of two quarterly revenue goals. One third of the revenue-based PRSUs may be earned based on achievement of the first revenue target and, if achieved, will vest in four quarterly installments, with the first installment occurring on the date such achievement is certified, subject to the executive's continuous service through the applicable vesting dates. Two thirds of the revenue-based PRSUs may be earned based on achievement of the second revenue target and, if achieved, will vest in eight quarterly installments, with the first installment occurring on the date such achievement is certified, subject to the executive's continuous service through the applicable vesting dates. The revenue-based PRSUs are otherwise on the Company's standard award terms for its market-based PRSUs. During 2023, the Company certified that the first revenue target was achieved, and thus recognized the related stock-based compensation expense for this first revenue target. However, the Company certified during the first quarter of 2024 that, as of December 31, 2023, the second revenue target was not achieved, and thus did not recognize the related stock-based compensation expense and cancelled the shares associated with this target. Stock-Based Compensation Stock-based compensation expense was as follows (in thousands): Three Months Ended March 31, 2024 March 31, 2023 Cost of revenue $ 7,603 $ 9,333 Research and development 10,930 12,382 Sales and marketing 14,020 17,045 General and administrative 12,131 11,983 Total stock-based compensation expense $ 44,684 $ 50,743 As of March 31, 2024, unrecognized stock-based compensation expense by award type and expected weighted-average recognition periods are summarized in the following table (in thousands, except years). Stock Option RSU PRSU ESPP Unrecognized stock-based compensation expense $ 3,626 $ 369,349 $ 19,581 $ 952 Weighted-average amortization period 1.4 years 3.1 years 1.9 years 0.1 years The weighted-average assumptions used to value PRSUs with market conditions granted during the periods presented were as follows: PRSUs (Market Conditions) Three Months Ended March 31, 2024 March 31, 2023 Closing price of common stock as of grant date $ 63.38 $ 68.15 Expected term (years) 2.85 2.84 Volatility 49.4 % 51.1 % Risk-free interest rate 4.5 % 4.5 % Dividend yield (1) — — (1) The Company has not paid, and does not anticipate paying, cash dividends on its shares of common stock. Accordingly, the expected dividend yield is zero.

Net Loss Per Share

Net Loss Per Share	3 Months Ended
Net Loss Per Share	Mar. 31, 2024
Earnings Per Share [Abstract]
Net Loss Per Share	Net Loss Per Share Basic net loss per share is calculated by dividing net loss by the weighted average number of shares of common stock outstanding during the period, and excludes any dilutive effects of employee stock-based awards and potential shares upon conversion of the convertible senior notes. Diluted net loss per share is computed giving effect to all potentially dilutive shares of common stock, including common stock issuable upon exercise of stock options, vesting of RSUs and PRSUs, and shares of common stock issuable upon conversion of convertible senior notes. As the Company had net losses for the three months ended March 31, 2024 and 2023, all potentially issuable shares of common stock were determined to be anti-dilutive. The following table presents the calculation of basic and diluted net loss per share (in thousands, except per share data): Three Months Ended March 31, 2024 March 31, 2023 Net loss $ (7,077) $ (27,248) Weighted-average shares used in computing basic and diluted net loss per share 73,488 71,259 Basic and diluted net loss per share $ (0.10) $ (0.38) The following securities were excluded from the calculation of diluted net loss per share because their effect would have been anti-dilutive (in thousands): Three Months Ended March 31, 2024 March 31, 2023 Stock options 902 1,303 RSUs (including PRSUs) 5,705 4,842 Convertible senior notes 7,899 5,568 Total 14,506 11,713

Income Taxes

Income Taxes	3 Months Ended
Income Taxes	Mar. 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The provision for income taxes for the three months ended March 31, 2024 and 2023 was approximately $1.0 million and $0.5 million, respectively. The provision for income taxes for the three months ended March 31, 2024 consisted primarily of U.S. federal and U.S. state tax expense as a result of IRC Section 174 research and experimental capitalization requirements, and foreign current income tax expense due to the Company's intercompany cost-plus operating model. The provision for income taxes for the three months ended March 31, 2023 consisted primarily of state and foreign current income tax expense. For the three months ended March 31, 2024, the provision for income taxes differed from the statutory amount primarily due to certain U.S. and foreign jurisdictions where a full valuation allowance was maintained against the net deferred tax assets. For the three months ended March 31, 2023, the provision for income taxes differed from the statutory amount primarily due to domestic state income taxes, foreign income taxes and the Company realizing no benefit for prior year domestic losses due to maintaining a full valuation allowance against its domestic net deferred tax assets. The realization of tax benefits from deferred tax assets is dependent upon future levels of taxable income, of an appropriate character, in the periods the items are expected to be deductible or taxable. Based on the weight of the available objective evidence, the Company does not believe it is more likely than not that the U.S. or U.K. net deferred tax assets will be realizable. Accordingly, the Company has provided a full valuation allowance against such net deferred tax assets as of March 31, 2024 and December 31, 2023. The Company intends to maintain the valuation allowance until sufficient positive evidence exists to support a reversal of, or decrease in, the valuation allowance. During the three months ended March 31, 2024, there were no material changes to the total amount of unrecognized tax benefits.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Commitments The Company’s principal commitments consist of future payment obligations under its convertible senior notes, finance leases to finance data centers and other computer and networking equipment, operating leases for office facilities, cloud services and software and maintenance agreements, and agreements with third parties to provide co-location hosting and telecommunication services. These commitments as of December 31, 2023 are disclosed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023, and material updates to these commitments during the three months ended March 31, 2024 are disclosed herein, including in this Note 10 and in Note 12. As of March 31, 2024, the Company’s commitments under various co-location hosting and telecommunications agreements totaled $13.6 million for terms ranging up to 57 months. These agreements require the Company to make monthly payments over the service term in exchange for certain network services. As of March 31, 2024, the Company had outstanding cloud services and software and maintenance agreement commitments totaling $89.2 million, of which $14.3 million is expected to be purchased in 2024, $47.3 million is expected to be purchased in 2025, and the remaining $27.6 million is expected to be purchased in 2026. As of March 31, 2024, $434.4 million of aggregate principal of the 2025 convertible senior notes was outstanding and is due on June 1, 2025 and $747.5 million of aggregate principal of the 2029 convertible senior notes was outstanding and is due on March 15, 2029. See Note 6 for more information concerning the convertible senior notes. Legal Matters The Company is involved in various legal and regulatory matters arising in the normal course of business. In management’s opinion, resolution of these matters is not expected to have a material impact on the Company’s consolidated results of operations, cash flows, or its financial position. However, due to the uncertain nature of legal matters, an unfavorable resolution of a matter could materially affect the Company’s future consolidated results of operations, cash flows or financial position in a particular period. The Company expenses legal fees as incurred. Indemnification Agreements

Geographical Information

Geographical Information	3 Months Ended
Geographical Information	Mar. 31, 2024
Segment Reporting [Abstract]
Geographical Information	Geographical Information The following table summarizes revenues by geographic region based on client billing address (in thousands): Three Months Ended March 31, 2024 March 31, 2023 United States $ 219,260 $ 195,363 International 27,750 23,076 Total revenue $ 247,010 $ 218,439 The following table summarizes total property and equipment, net in the respective locations (in thousands): March 31, 2024 December 31, 2023 United States $ 106,426 $ 101,567 International 7,214 7,005 Property and equipment, net $ 113,640 $ 108,572

Leases

Leases	3 Months Ended
Leases	Mar. 31, 2024
Leases [Abstract]
Leases	Leases The Company has leases for offices, data centers and computer and networking equipment that expire at various dates through 2031. The Company’s leases have remaining terms of one one The components of lease expenses were as follows (in thousands): Three Months Ended March 31, 2024 March 31, 2023 Operating lease cost $ 3,266 $ 3,382 Finance lease cost: Amortization of right-of-use assets $ 456 $ 63 Interest on finance lease liabilities 66 — Total finance lease cost $ 522 $ 63 Supplemental cash flow information related to leases was as follows (in thousands): Three Months Ended March 31, 2024 March 31, 2023 Cash paid for amounts included in the measurement of lease liabilities: Operating cash used in operating leases $ (3,119) $ (3,275) Financing cash used in finance leases (479) — Right of use assets obtained in exchange for lease obligations: Operating leases 209 4,153 Finance leases — — Supplemental balance sheet information related to leases was as follows (in thousands): March 31, 2024 December 31, 2023 Operating leases Operating lease right-of-use assets $ 36,215 $ 38,873 Operating lease liabilities $ 9,880 $ 10,731 Operating lease liabilities — less current portion 34,207 36,378 Total operating lease liabilities $ 44,087 $ 47,109 Finance leases Finance lease right-of-use assets $ 4,108 $ 4,564 Finance lease liabilities $ 1,791 $ 1,767 Finance lease liabilities — less current portion 2,414 2,877 Total finance lease liabilities $ 4,205 $ 4,644 Weighted average remaining terms were as follows (in years): March 31, 2024 December 31, 2023 Weighted average remaining lease term Operating leases 5.6 5.7 Finance leases 2.3 2.6 Weighted average discount rates were as follows: March 31, 2024 December 31, 2023 Weighted average discount rate Operating leases 3.8 % 3.8 % Finance leases 6.1 % 6.1 % Maturities of lease liabilities were as follows (in thousands): Year Ending December 31, Operating Leases Finance Leases Remaining 2024 $ 8,783 $ 1,491 2025 9,364 1,987 2026 7,153 1,012 2027 5,957 — 2028 5,582 — Thereafter 11,709 — Total future minimum lease payments 48,548 4,490 Less: imputed interest (4,461) (285) Total $ 44,087 $ 4,205
Leases	Leases The Company has leases for offices, data centers and computer and networking equipment that expire at various dates through 2031. The Company’s leases have remaining terms of one one The components of lease expenses were as follows (in thousands): Three Months Ended March 31, 2024 March 31, 2023 Operating lease cost $ 3,266 $ 3,382 Finance lease cost: Amortization of right-of-use assets $ 456 $ 63 Interest on finance lease liabilities 66 — Total finance lease cost $ 522 $ 63 Supplemental cash flow information related to leases was as follows (in thousands): Three Months Ended March 31, 2024 March 31, 2023 Cash paid for amounts included in the measurement of lease liabilities: Operating cash used in operating leases $ (3,119) $ (3,275) Financing cash used in finance leases (479) — Right of use assets obtained in exchange for lease obligations: Operating leases 209 4,153 Finance leases — — Supplemental balance sheet information related to leases was as follows (in thousands): March 31, 2024 December 31, 2023 Operating leases Operating lease right-of-use assets $ 36,215 $ 38,873 Operating lease liabilities $ 9,880 $ 10,731 Operating lease liabilities — less current portion 34,207 36,378 Total operating lease liabilities $ 44,087 $ 47,109 Finance leases Finance lease right-of-use assets $ 4,108 $ 4,564 Finance lease liabilities $ 1,791 $ 1,767 Finance lease liabilities — less current portion 2,414 2,877 Total finance lease liabilities $ 4,205 $ 4,644 Weighted average remaining terms were as follows (in years): March 31, 2024 December 31, 2023 Weighted average remaining lease term Operating leases 5.6 5.7 Finance leases 2.3 2.6 Weighted average discount rates were as follows: March 31, 2024 December 31, 2023 Weighted average discount rate Operating leases 3.8 % 3.8 % Finance leases 6.1 % 6.1 % Maturities of lease liabilities were as follows (in thousands): Year Ending December 31, Operating Leases Finance Leases Remaining 2024 $ 8,783 $ 1,491 2025 9,364 1,987 2026 7,153 1,012 2027 5,957 — 2028 5,582 — Thereafter 11,709 — Total future minimum lease payments 48,548 4,490 Less: imputed interest (4,461) (285) Total $ 44,087 $ 4,205

Acquisition

Acquisition	3 Months Ended
Acquisition	Mar. 31, 2024
Business Combination and Asset Acquisition [Abstract]
Acquisition	Acquisition Aceyus On August 14, 2023, the Company acquired all of the issued and outstanding shares of capital stock of Aceyus, Inc. ("Aceyus") for total cash consideration of approximately $82.0 million. This acquisition, which was accounted for as a business combination, is intended to accelerate the Company's ability to capitalize on two business opportunities, namely facilitating the migration of large enterprise customers from on-premise to cloud and leveraging contextual data to deliver personalized experiences throughout the customer journey, including using this contextual data in the Company's AI & Automation solutions. The excess of the purchase price over identifiable intangible assets and net tangible assets in the amount of $61.8 million was allocated to goodwill, which is not deductible for tax purposes. The fair values assigned to assets acquired and liabilities assumed are based on management’s best estimates and assumptions as of the acquisition date and are considered preliminary pending finalization of valuation analyses pertaining to intangible assets acquired, liabilities assumed and tax liabilities assumed. During the measurement period, which may be up to one year from the acquisition date, the Company may record adjustments to the fair value of these tangible and intangible assets acquired and liabilities assumed, with the corresponding offset to goodwill. The Company recorded a measurement period adjustment of $0.1 million during the three months ended March 31, 2024. The following table presents the preliminary allocation of the purchase price at the acquisition date (in thousands): Cash $ 1,523 Tangible assets acquired 383 Other assets acquired 3,002 Acquired technology 19,100 Customer relationships 2,550 Trademarks 500 Goodwill 61,849 Total assets acquired 88,907 Liabilities assumed (6,895) Total $ 82,012 The acquired technology, customer relationships, and trademarks will be amortized on a straight-line basis over their estimated useful lives of eight years, five years, and three years, respectively. The Company used the income approach to estimate the fair value of intangible assets acquired. In connection with this acquisition, the Company incurred total acquisition-related transaction costs of $2.2 million in 2023, and incurred no additional costs during the three months ended March 31, 2024, that have been expensed as incurred and included in general and administrative expenses in the consolidated statements of operations and comprehensive loss.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023
Pay vs Performance Disclosure
Net loss	$ (7,077)	$ (27,248)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Mar. 31, 2024 shares
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	Rule 10b5-1 Plans During the fiscal quarter ended March 31, 2024, the following directors and officers adopted, modified, or terminated a Rule 10b5-1 trading arrangement or a non-Rule 10b5-1 trading arrangement: Name Title Adoption Date Expiration Date Aggregate # of securities to be sold Aggregate # of securities to be purchased Type of Arrangement Barry Zwarenstein Chief Financial Officer Mar. 4, 2024 Dec. 31, 2024 92,911 — Rule 10b5-1 trading arrangement (3) Michael Burkland Chief Executive Officer Mar. 12, 2024 June 4, 2025 62,973 (1) — Rule 10b5-1 trading arrangement (3) Panos Kozanian EVP, Product Engineering Mar. 13, 2024 Mar. 31, 2025 26,506 (2) — Rule 10b5-1 trading arrangement (3) Daniel Burkland President and Chief Revenue Officer Mar. 13, 2024 June 30, 2025 145,504 (2) — Rule 10b5-1 trading arrangement (3) ______________________ (1) Reflects the sale of shares pursuant to the Rule 10b5-1 trading arrangement in order to satisfy tax obligations upon the vesting of restricted stock units held by Michael Burkland. (2) Does not include an additional indeterminable number of shares permitted to be sold pursuant to the Rule 10b5-1 trading arrangement following the sales of securities outside of the Rule 10b5-1 trading arrangement in order to satisfy tax obligations upon the vesting of restricted stock units. (3) The Rule 10b5-1 trading arrangement is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Barry Zwarenstein [Member]
Trading Arrangements, by Individual
Name	Barry Zwarenstein
Title	Chief Financial Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	Mar. 4, 2024
Termination Date	Dec. 31, 2024
Arrangement Duration	302 days
Aggregate Available	92,911
Michael Burkland [Member]
Trading Arrangements, by Individual
Name	Michael Burkland
Title	Chief Executive Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	Mar. 12, 2024
Termination Date	June 4, 2025
Arrangement Duration	449 days
Aggregate Available	62,973
Panos Kozanian [Member]
Trading Arrangements, by Individual
Name	Panos Kozanian
Title	EVP, Product Engineering
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	Mar. 13, 2024
Termination Date	Mar. 31, 2025
Arrangement Duration	383 days
Aggregate Available	26,506
Daniel Burkland [Member]
Trading Arrangements, by Individual
Name	Daniel Burkland
Title	President and Chief Revenue Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	Mar. 13, 2024
Termination Date	June 30, 2025
Arrangement Duration	474 days
Aggregate Available	145,504

Description of Business and S_2

Description of Business and Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) and applicable rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting. Certain information and note disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. Therefore, these condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023. In the opinion of management, the condensed consolidated financial statements reflect all adjustments, which are normal and recurring in nature, necessary for fair financial statement presentation. All intercompany transactions and balances have been eliminated in consolidation.
Use of Estimates	Use of Estimates
Recent Accounting Pronouncements Not Yet Effective	Recent Accounting Pronouncements Not Yet Effective In November 2023, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standard Update (“ ASU”) No. 2023-07, Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures , which provides updates to qualitative and quantitative reportable segment disclosure requirements, including enhanced disclosures about significant segment expenses and increased interim disclosure requirements, among others. This ASU is effective for the Company’s fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted, and the amendments should be applied retrospectively. The Company is currently evaluating the impact of this ASU on its consolidated financial statement disclosures. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures . This ASU requires disclosure of specific categories in the effective tax rate reconciliation and additional information on income taxes paid. This ASU is effective for the Company’s fiscal years beginning after December 15, 2024. Early adoption is permitted and may be adopted on a prospective or retrospective basis. The Company is currently evaluating the impact of this ASU on its consolidated financial statement disclosures.
Receivables	The Company receives payments from customers based upon billing cycles. Invoice payment terms are usually 30 days or less. Accounts receivable are recorded when the right to consideration becomes unconditional.
Deferred Contract Acquisition	Deferred contract acquisition costs are recorded when incurred and are amortized over an estimated customer benefit period of five years.
Revenue	The Company’s contract assets consist of unbilled amounts typically resulting from professional services revenue recognition when it exceeds the total amounts billed to the customer. The Company’s contract liabilities consist of advance payments and billings in excess of revenue recognized.

Revenue (Tables)

Revenue (Tables)	3 Months Ended
Revenue (Tables)	Mar. 31, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Contract Balances	The following table provides information about accounts receivable, net, deferred contract acquisition costs, net, contract assets and contract liabilities from contracts with customers (in thousands): March 31, 2024 December 31, 2023 Accounts receivable, net $ 103,157 $ 97,424 Deferred contract acquisition costs, net: Current $ 67,169 $ 61,711 Non-current 148,408 136,571 Total deferred contract acquisition costs, net $ 215,577 $ 198,282 Contract assets and contract liabilities: Contract assets (included in prepaid expenses and other current assets) $ 652 $ 4,106 Contract liabilities (deferred revenue) (67,019) (68,187) Noncurrent contract liabilities (deferred revenue) (included in other long-term liabilities) (1,066) (1,350) Net contract liabilities $ (67,433) $ (65,431)

Investments and Fair Value Me_2

Investments and Fair Value Measurements (Tables)	3 Months Ended
Investments and Fair Value Measurements (Tables)	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Schedule of Marketable Investments	The Company’s marketable investments have been classified and accounted for as available-for-sale. The Company’s intent is that all marketable investments are available for use in its current operations, including marketable investments with maturity dates greater than one year from March 31, 2024. The Company’s marketable investments as of March 31, 2024 and December 31, 2023 were as follows (in thousands): March 31, 2024 Short-Term Marketable Investments Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Certificates of deposit $ 1,220 $ 1 $ — $ 1,221 U.S. treasury securities 581,951 12 (640) 581,323 U.S. agency and government-sponsored securities 197,191 23 (130) 197,084 Commercial paper 32,768 1 (23) 32,746 Municipal bonds 1,925 — (1) 1,924 Corporate bonds 28,975 2 (63) 28,914 Total $ 844,030 $ 39 $ (857) $ 843,212 December 31, 2023 Short-Term Marketable Investments Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Certificates of deposit $ 1,463 $ — $ — $ 1,463 U.S. treasury securities 315,608 191 (362) 315,437 U.S. agency and government-sponsored securities 239,358 78 (177) 239,259 Commercial paper 17,382 9 — 17,391 Municipal bonds 927 1 — 928 Corporate bonds 12,630 4 (16) 12,618 Total $ 587,368 $ 283 $ (555) $ 587,096
Schedule of Gross Unrealized Losses and Fair Value of Marketable Investments	The following table presents the gross unrealized losses and the fair value for those marketable investments that were in an unrealized loss position for less than 12 months as of March 31, 2024 and December 31, 2023 (in thousands): March 31, 2024 December 31, 2023 Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value U.S. treasury securities $ (640) $ 469,875 $ (362) $ 79,644 U.S. agency and government-sponsored securities (130) 126,023 (177) 165,493 Commercial paper (23) 31,559 — — Municipal bonds (1) 1,924 — — Corporate bonds (63) 24,840 (16) 7,550 Total $ (857) $ 654,221 $ (555) $ 252,687
Schedule of Assets Carried at Fair Value	The amortized cost and fair value of the Company’s marketable investments by contractual maturity as of March 31, 2024 were as follows (in thousands): Cost Fair Value Due within one year $ 682,459 $ 681,865 Due after one year through two years 161,571 161,347 Total $ 844,030 $ 843,212 The following tables set forth the Company’s assets measured at fair value by level within the fair value hierarchy (in thousands): March 31, 2024 Level 1 Level 2 Level 3 Total Assets Cash equivalents Money market funds $ 93,396 $ — $ — $ 93,396 Certificates of deposit — 488 — 488 U.S. treasury securities 67,030 — — 67,030 U.S. agency and government sponsored securities — 1,058 — 1,058 Total cash equivalents $ 160,426 $ 1,546 $ — $ 161,972 Marketable investments Certificates of deposit $ — $ 1,221 $ — $ 1,221 U.S. treasury securities 581,323 — — 581,323 U.S. agency and government sponsored securities — 197,084 — 197,084 Commercial paper — 32,746 — 32,746 Municipal bonds — 1,924 — 1,924 Corporate bonds — 28,914 — 28,914 Total marketable investments $ 581,323 $ 261,889 $ — $ 843,212 December 31, 2023 Level 1 Level 2 Level 3 Total Assets Cash equivalents Money market funds $ 66,661 $ — $ — $ 66,661 Certificates of deposit — 493 — 493 U.S. treasury securities 4,983 — — 4,983 Commercial paper — 1,498 — 1,498 Total cash equivalents $ 71,644 $ 1,991 $ — $ 73,635 Marketable investments Certificates of deposit $ — $ 1,463 $ — $ 1,463 U.S. treasury securities 315,437 — — 315,437 U.S. agency and government-sponsored securities — 239,259 — 239,259 Commercial paper — 17,391 — 17,391 Municipal bonds — 928 — 928 Corporate bonds — 12,618 — 12,618 Total marketable investments $ 315,437 $ 271,659 $ — $ 587,096

Financial Statement Components

Financial Statement Components (Tables)	3 Months Ended
Financial Statement Components (Tables)	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Cash and Cash Equivalents	Cash and cash equivalents consisted of the following (in thousands): March 31, 2024 December 31, 2023 Cash $ 78,218 $ 69,566 Money market funds 93,396 66,661 Certificates of deposit 488 493 U.S. treasury securities 67,030 4,983 U.S. agency and government sponsored securities 1,058 — Commercial paper — 1,498 Total cash and cash equivalents $ 240,190 $ 143,201
Schedule of Accounts Receivable	Accounts receivable, net consisted of the following (in thousands): March 31, 2024 December 31, 2023 Trade accounts receivable $ 93,524 $ 86,912 Unbilled trade accounts receivable, net of advance client deposits 9,914 10,776 Provision for credit losses (281) (264) Accounts receivable, net $ 103,157 $ 97,424
Schedule of Prepaid Expenses and Other Current Assets	Prepaid expenses and other current assets consisted of the following (in thousands): March 31, 2024 December 31, 2023 Prepaid expenses $ 26,148 $ 22,023 Other current assets 8,827 8,493 Contract assets 652 4,106 Prepaid expenses and other current assets $ 35,627 $ 34,622
Schedule of Property and Equipment	Property and equipment, net consisted of the following (in thousands): March 31, 2024 December 31, 2023 Computer and network equipment $ 161,960 $ 155,997 Computer software 61,993 59,452 Internal-use software development costs 24,279 19,734 Furniture and fixtures 4,705 4,666 Leasehold improvements 6,440 6,425 Property and equipment 259,377 246,274 Accumulated depreciation and amortization (145,737) (137,702) Property and equipment, net $ 113,640 $ 108,572
Schedule of Other Assets	Other assets consisted of the following (in thousands): March 31, 2024 December 31, 2023 Other assets $ 11,150 $ 10,433 Equity investment in a privately-held company 2,000 2,000 Deferred tax assets 3,518 3,766 Other assets $ 16,668 $ 16,199
Schedule of Accrued and Other Current Liabilities	Accrued and other current liabilities consisted of the following (in thousands): March 31, 2024 December 31, 2023 Accrued expenses $ 18,130 $ 18,282 Accrued compensation and benefits 53,525 35,927 Accrued federal fees 4,651 4,166 Sales tax liabilities 2,879 3,756 Accrued and other current liabilities $ 79,185 $ 62,131
Schedule of Other Long-term Liabilities	Other long-term liabilities consisted of the following (in thousands): March 31, 2024 December 31, 2023 Deferred revenue $ 1,066 $ 1,350 Sales tax liabilities 933 926 Other long-term liabilities 4,602 5,612 Other long-term liabilities $ 6,601 $ 7,888

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	3 Months Ended
Goodwill and Intangible Assets (Tables)	Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets and Goodwill	The following table summarizes the activity in the Company's goodwill and intangible asset balances during the three months ended March 31, 2024 (in thousands): Goodwill Intangible Assets Beginning of the period, December 31, 2023 $ 227,412 $ 38,323 Measurement period adjustment (Aceyus) (143) — Amortization — (2,648) End of the period, March 31, 2024 $ 227,269 $ 35,675
Schedule of Intangible Assets	The components of intangible assets were as follows (in thousands): March 31, 2024 December 31, 2023 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Weighted Average Remaining Amortization period (Years) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Weighted Average Remaining Amortization period (Years) Developed technology $ 75,314 $ (42,725) $ 32,589 5.1 $ 75,314 $ (40,327) $ 34,987 5.2 Acquired workforce 470 (470) — 0.0 470 (470) — 0.0 Customer relationships 4,150 (1,460) 2,690 3.9 4,150 (1,252) 2,898 4.1 Trademarks 500 (104) 396 2.4 1,000 (562) 438 2.6 Total $ 80,434 $ (44,759) $ 35,675 5.0 $ 80,934 $ (42,611) $ 38,323 5.1
Schedule of Expected Future Amortization Expense of Intangible Assets	As of March 31, 2024, the expected future amortization expense for intangible assets was as follows (in thousands): Period Expected Future Amortization Expense Remaining 2024 $ 7,943 2025 8,660 2026 7,201 2027 2,898 2028 2,706 Thereafter 6,267 Total $ 35,675

Debt (Tables)

Debt (Tables)	3 Months Ended
Debt (Tables)	Mar. 31, 2024
Convertible Senior Notes, Due 2029
Debt Instrument [Line Items]
Schedule of Net Carrying Amount of Notes and Impact to Additional Paid-in Capital	The net carrying amount of the 2029 convertible senior notes as of March 31, 2024 was as follows (in thousands): March 31, 2024 Principal $ 747,500 Unamortized issuance costs (18,343) Net carrying amount $ 729,157
Schedule of Interest Expense Related to the Notes	Interest expense related to the 2029 convertible senior notes was as follows (in thousands): Three Months Ended March 31, 2024 Contractual interest expense $ 623 Amortization of issuance costs 284 Total interest expense $ 907
Convertible Senior Notes, Due 2025
Debt Instrument [Line Items]
Schedule of Net Carrying Amount of Notes and Impact to Additional Paid-in Capital	The net carrying amount of the 2025 convertible senior notes as of March 31, 2024 and as of December 31, 2023 was as follows (in thousands): March 31, 2024 December 31, 2023 Principal $ 747,500 $ 747,500 Unamortized issuance costs (2,590) (5,375) Principal repaid (313,095) — Net carrying amount $ 431,815 $ 742,125
Schedule of Interest Expense Related to the Notes	Interest expense related to the 2025 convertible senior notes was as follows (in thousands): Three Months Ended March 31, 2024 March 31, 2023 Contractual interest expense $ 804 $ 934 Amortization of issuance costs 790 908 Total interest expense $ 1,594 $ 1,842

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
Stockholders' Equity (Tables)	Mar. 31, 2024
Equity [Abstract]
Schedule of Common Stock Reserved for Future Issuance	Shares of common stock reserved for future issuance related to outstanding equity awards and employee equity incentive plans as of March 31, 2024 were as follows (in thousands): March 31, 2024 Stock options outstanding 902 RSUs (including PRSUs) outstanding 5,705 Shares available for future grant under 2014 Plan 17,173 Shares available for future issuance under ESPP 4,670 Total shares of common stock reserved 28,450
Schedule of Stock Option Activity	A summary of the Company’s stock option activity during the three months ended March 31, 2024 is as follows (in thousands, except per share data): Number of Weighted Weighted Aggregate Outstanding as of December 31, 2023 918 $ 55.96 Options granted — — Options exercised (14) 26.85 Options forfeited or expired (2) 174.78 Outstanding as of March 31, 2024 902 $ 56.23 4.5 $ 22,648
Schedule of RSU Activity	A summary of the Company’s restricted stock unit ("RSU") activity, including PRSUs, during the three months ended March 31, 2024 is as follows (in thousands, except per share data): Number of Shares Weighted Average Grant Date Fair Value Per Share Outstanding as of December 31, 2023 4,076 $ 83.25 RSUs granted (1) 2,210 59.04 RSUs vested and released (518) 82.33 RSUs forfeited or cancelled (63) 87.09 Outstanding as of March 31, 2024 5,705 73.57
Schedule of Stock-based Compensation Expense	Stock-based compensation expense was as follows (in thousands): Three Months Ended March 31, 2024 March 31, 2023 Cost of revenue $ 7,603 $ 9,333 Research and development 10,930 12,382 Sales and marketing 14,020 17,045 General and administrative 12,131 11,983 Total stock-based compensation expense $ 44,684 $ 50,743
Schedule of Unrecognized Compensation Expense	As of March 31, 2024, unrecognized stock-based compensation expense by award type and expected weighted-average recognition periods are summarized in the following table (in thousands, except years). Stock Option RSU PRSU ESPP Unrecognized stock-based compensation expense $ 3,626 $ 369,349 $ 19,581 $ 952 Weighted-average amortization period 1.4 years 3.1 years 1.9 years 0.1 years
Schedule of Valuation Assumptions, Stock Option	The weighted-average assumptions used to value PRSUs with market conditions granted during the periods presented were as follows: PRSUs (Market Conditions) Three Months Ended March 31, 2024 March 31, 2023 Closing price of common stock as of grant date $ 63.38 $ 68.15 Expected term (years) 2.85 2.84 Volatility 49.4 % 51.1 % Risk-free interest rate 4.5 % 4.5 % Dividend yield (1) — — (1) The Company has not paid, and does not anticipate paying, cash dividends on its shares of common stock. Accordingly, the expected dividend yield is zero.

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	3 Months Ended
Net Loss Per Share (Tables)	Mar. 31, 2024
Earnings Per Share [Abstract]
Schedule of Basic and Diluted Net Loss Per Share	The following table presents the calculation of basic and diluted net loss per share (in thousands, except per share data): Three Months Ended March 31, 2024 March 31, 2023 Net loss $ (7,077) $ (27,248) Weighted-average shares used in computing basic and diluted net loss per share 73,488 71,259 Basic and diluted net loss per share $ (0.10) $ (0.38)
Schedule of Antidilutive Securities Excluded from Computation of Net Loss Per Share	The following securities were excluded from the calculation of diluted net loss per share because their effect would have been anti-dilutive (in thousands): Three Months Ended March 31, 2024 March 31, 2023 Stock options 902 1,303 RSUs (including PRSUs) 5,705 4,842 Convertible senior notes 7,899 5,568 Total 14,506 11,713

Geographical Information (Table

Geographical Information (Tables)	3 Months Ended
Geographical Information (Tables)	Mar. 31, 2024
Segment Reporting [Abstract]
Schedule of Revenues and Property and Equipment by Geographic Region	The following table summarizes revenues by geographic region based on client billing address (in thousands): Three Months Ended March 31, 2024 March 31, 2023 United States $ 219,260 $ 195,363 International 27,750 23,076 Total revenue $ 247,010 $ 218,439 The following table summarizes total property and equipment, net in the respective locations (in thousands): March 31, 2024 December 31, 2023 United States $ 106,426 $ 101,567 International 7,214 7,005 Property and equipment, net $ 113,640 $ 108,572

Leases (Tables)

Leases (Tables)	3 Months Ended
Leases (Tables)	Mar. 31, 2024
Leases [Abstract]
Schedule of Lease Expenses and Terms	The components of lease expenses were as follows (in thousands): Three Months Ended March 31, 2024 March 31, 2023 Operating lease cost $ 3,266 $ 3,382 Finance lease cost: Amortization of right-of-use assets $ 456 $ 63 Interest on finance lease liabilities 66 — Total finance lease cost $ 522 $ 63 Supplemental cash flow information related to leases was as follows (in thousands): Three Months Ended March 31, 2024 March 31, 2023 Cash paid for amounts included in the measurement of lease liabilities: Operating cash used in operating leases $ (3,119) $ (3,275) Financing cash used in finance leases (479) — Right of use assets obtained in exchange for lease obligations: Operating leases 209 4,153 Finance leases — — Weighted average remaining terms were as follows (in years): March 31, 2024 December 31, 2023 Weighted average remaining lease term Operating leases 5.6 5.7 Finance leases 2.3 2.6 Weighted average discount rates were as follows: March 31, 2024 December 31, 2023 Weighted average discount rate Operating leases 3.8 % 3.8 % Finance leases 6.1 % 6.1 %
Schedule of Balance Sheet Information Related to Leases	Supplemental balance sheet information related to leases was as follows (in thousands): March 31, 2024 December 31, 2023 Operating leases Operating lease right-of-use assets $ 36,215 $ 38,873 Operating lease liabilities $ 9,880 $ 10,731 Operating lease liabilities — less current portion 34,207 36,378 Total operating lease liabilities $ 44,087 $ 47,109 Finance leases Finance lease right-of-use assets $ 4,108 $ 4,564 Finance lease liabilities $ 1,791 $ 1,767 Finance lease liabilities — less current portion 2,414 2,877 Total finance lease liabilities $ 4,205 $ 4,644
Schedule of Operating Lease Maturities	Maturities of lease liabilities were as follows (in thousands): Year Ending December 31, Operating Leases Finance Leases Remaining 2024 $ 8,783 $ 1,491 2025 9,364 1,987 2026 7,153 1,012 2027 5,957 — 2028 5,582 — Thereafter 11,709 — Total future minimum lease payments 48,548 4,490 Less: imputed interest (4,461) (285) Total $ 44,087 $ 4,205

Acquisition (Tables)

Acquisition (Tables)	3 Months Ended
Acquisition (Tables)	Mar. 31, 2024
Business Combination and Asset Acquisition [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The following table presents the preliminary allocation of the purchase price at the acquisition date (in thousands): Cash $ 1,523 Tangible assets acquired 383 Other assets acquired 3,002 Acquired technology 19,100 Customer relationships 2,550 Trademarks 500 Goodwill 61,849 Total assets acquired 88,907 Liabilities assumed (6,895) Total $ 82,012

Revenue - Contract Balances (De

Revenue - Contract Balances (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Accounts receivable, net	$ 103,157	$ 97,424
Deferred contract acquisition costs, net:
Current	67,169	61,711
Non-current	148,408	136,571
Total deferred contract acquisition costs, net	215,577	198,282
Contract assets and contract liabilities:
Contract assets (included in prepaid expenses and other current assets)	652	4,106
Contract liabilities (deferred revenue)	(67,019)	(68,187)
Noncurrent contract liabilities (deferred revenue) (included in other long-term liabilities)	(1,066)	(1,350)
Net contract liabilities	$ (67,433)	$ (65,431)

Revenue - Narrative (Details)

Revenue - Narrative (Details) $ in Millions	3 Months Ended
Revenue - Narrative (Details) $ in Millions	Mar. 31, 2024 USD ($)
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Contract revenue recognized	$ 35.6
Contract acquisition costs
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Amortization period of capitalized contract cost (in years)	5 years

Revenue - Remaining Performance

Revenue - Remaining Performance Obligations (Details) $ in Millions	3 Months Ended
	Mar. 31, 2024 USD ($)
Revenue from Contract with Customer [Abstract]
Performance obligation	$ 1,048.6
Performance obligation, description of timing	The Company expects to recognize revenue on approximately three-fourths of the remaining performance obligations over the next 24 months, with the balance recognized thereafter. The Company excludes amounts for remaining performance obligations that are part of contracts with an original expected duration of one year or less. Such remaining performance obligations represent unsatisfied or partially unsatisfied performance obligations.
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligation satisfaction period (in months)	24 months
Remaining performance obligation expected to be recognized (as a percent)	75%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligation satisfaction period (in months)
Remaining performance obligation expected to be recognized (as a percent)	25%

Investments and Fair Value Me_3

Investments and Fair Value Measurements - Schedule of Marketable Investments (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Debt Securities, Available-for-sale [Line Items]
Fair Value	$ 843,212	$ 587,096
Short-Term Marketable Investments
Debt Securities, Available-for-sale [Line Items]
Cost	844,030	587,368
Gross Unrealized Gains	39	283
Gross Unrealized Losses	(857)	(555)
Fair Value	843,212	587,096
Certificates of deposit
Debt Securities, Available-for-sale [Line Items]
Fair Value	1,221	1,463
Certificates of deposit \| Short-Term Marketable Investments
Debt Securities, Available-for-sale [Line Items]
Cost	1,220	1,463
Gross Unrealized Gains	1	0
Gross Unrealized Losses	0	0
Fair Value	1,221	1,463
U.S. treasury securities
Debt Securities, Available-for-sale [Line Items]
Fair Value	581,323	315,437
U.S. treasury securities \| Short-Term Marketable Investments
Debt Securities, Available-for-sale [Line Items]
Cost	581,951	315,608
Gross Unrealized Gains	12	191
Gross Unrealized Losses	(640)	(362)
Fair Value	581,323	315,437
U.S. agency and government sponsored securities
Debt Securities, Available-for-sale [Line Items]
Fair Value	197,084	239,259
U.S. agency and government sponsored securities \| Short-Term Marketable Investments
Debt Securities, Available-for-sale [Line Items]
Cost	197,191	239,358
Gross Unrealized Gains	23	78
Gross Unrealized Losses	(130)	(177)
Fair Value	197,084	239,259
Commercial paper
Debt Securities, Available-for-sale [Line Items]
Fair Value	32,746	17,391
Commercial paper \| Short-Term Marketable Investments
Debt Securities, Available-for-sale [Line Items]
Cost	32,768	17,382
Gross Unrealized Gains	1	9
Gross Unrealized Losses	(23)	0
Fair Value	32,746	17,391
Municipal bonds
Debt Securities, Available-for-sale [Line Items]
Fair Value	1,924	928
Municipal bonds \| Short-Term Marketable Investments
Debt Securities, Available-for-sale [Line Items]
Cost	1,925	927
Gross Unrealized Gains	0	1
Gross Unrealized Losses	(1)	0
Fair Value	1,924	928
Corporate bonds
Debt Securities, Available-for-sale [Line Items]
Fair Value	28,914	12,618
Corporate bonds \| Short-Term Marketable Investments
Debt Securities, Available-for-sale [Line Items]
Cost	28,975	12,630
Gross Unrealized Gains	2	4
Gross Unrealized Losses	(63)	(16)
Fair Value	$ 28,914	$ 12,618

Investments and Fair Value Me_4

Investments and Fair Value Measurements - Schedule of Continuous Unrealized Loss Position (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Debt Securities, Available-for-sale [Line Items]
Gross Unrealized Losses	$ (857)	$ (555)
Fair Value	654,221	252,687
U.S. treasury securities
Debt Securities, Available-for-sale [Line Items]
Gross Unrealized Losses	(640)	(362)
Fair Value	469,875	79,644
U.S. agency and government sponsored securities
Debt Securities, Available-for-sale [Line Items]
Gross Unrealized Losses	(130)	(177)
Fair Value	126,023	165,493
Commercial paper
Debt Securities, Available-for-sale [Line Items]
Gross Unrealized Losses	(23)	0
Fair Value	31,559	0
Municipal bonds
Debt Securities, Available-for-sale [Line Items]
Gross Unrealized Losses	(1)	0
Fair Value	1,924	0
Corporate bonds
Debt Securities, Available-for-sale [Line Items]
Gross Unrealized Losses	(63)	(16)
Fair Value	$ 24,840	$ 7,550

Investments and Fair Value Me_5

Investments and Fair Value Measurements - Maturities (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Due within one year	$ 682,459
Due after one year through two years	161,571
Due within one year	681,865
Due after one year through two years	161,347
Fair Value	$ 843,212	$ 587,096

Investments and Fair Value Me_6

Investments and Fair Value Measurements - Schedule of Assets Carried at Fair Value (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Assets
Cash equivalents	$ 161,972	$ 73,635
Marketable investments	843,212	587,096
Level 1
Assets
Cash equivalents	160,426	71,644
Marketable investments	581,323	315,437
Level 2
Assets
Cash equivalents	1,546	1,991
Marketable investments	261,889	271,659
Level 3
Assets
Cash equivalents	0	0
Marketable investments	0	0
Certificates of deposit
Assets
Marketable investments	1,221	1,463
Certificates of deposit \| Level 1
Assets
Marketable investments	0	0
Certificates of deposit \| Level 2
Assets
Marketable investments	1,221	1,463
Certificates of deposit \| Level 3
Assets
Marketable investments	0	0
U.S. treasury securities
Assets
Marketable investments	581,323	315,437
U.S. treasury securities \| Level 1
Assets
Marketable investments	581,323	315,437
U.S. treasury securities \| Level 2
Assets
Marketable investments	0	0
U.S. treasury securities \| Level 3
Assets
Marketable investments	0	0
U.S. agency and government sponsored securities
Assets
Marketable investments	197,084	239,259
U.S. agency and government sponsored securities \| Level 1
Assets
Marketable investments	0	0
U.S. agency and government sponsored securities \| Level 2
Assets
Marketable investments	197,084	239,259
U.S. agency and government sponsored securities \| Level 3
Assets
Marketable investments	0	0
Commercial paper
Assets
Marketable investments	32,746	17,391
Commercial paper \| Level 1
Assets
Marketable investments	0	0
Commercial paper \| Level 2
Assets
Marketable investments	32,746	17,391
Commercial paper \| Level 3
Assets
Marketable investments	0	0
Municipal bonds
Assets
Marketable investments	1,924	928
Municipal bonds \| Level 1
Assets
Marketable investments	0	0
Municipal bonds \| Level 2
Assets
Marketable investments	1,924	928
Municipal bonds \| Level 3
Assets
Marketable investments	0	0
Corporate bonds
Assets
Marketable investments	28,914	12,618
Corporate bonds \| Level 1
Assets
Marketable investments	0	0
Corporate bonds \| Level 2
Assets
Marketable investments	28,914	12,618
Corporate bonds \| Level 3
Assets
Marketable investments	0	0
Money market funds
Assets
Cash equivalents	93,396	66,661
Money market funds \| Level 1
Assets
Cash equivalents	93,396	66,661
Money market funds \| Level 2
Assets
Cash equivalents	0	0
Money market funds \| Level 3
Assets
Cash equivalents	0	0
Certificates of deposit
Assets
Cash equivalents	488	493
Certificates of deposit \| Level 1
Assets
Cash equivalents	0	0
Certificates of deposit \| Level 2
Assets
Cash equivalents	488	493
Certificates of deposit \| Level 3
Assets
Cash equivalents	0	0
U.S. treasury securities
Assets
Cash equivalents	67,030	4,983
U.S. treasury securities \| Level 1
Assets
Cash equivalents	67,030	4,983
U.S. treasury securities \| Level 2
Assets
Cash equivalents	0	0
U.S. treasury securities \| Level 3
Assets
Cash equivalents	0	0
U.S. agency and government sponsored securities
Assets
Cash equivalents	1,058
U.S. agency and government sponsored securities \| Level 1
Assets
Cash equivalents	0
U.S. agency and government sponsored securities \| Level 2
Assets
Cash equivalents	1,058
U.S. agency and government sponsored securities \| Level 3
Assets
Cash equivalents	$ 0
Commercial paper
Assets
Cash equivalents		1,498
Commercial paper \| Level 1
Assets
Cash equivalents		0
Commercial paper \| Level 2
Assets
Cash equivalents		1,498
Commercial paper \| Level 3
Assets
Cash equivalents		$ 0

Investments and Fair Value Me_7

Investments and Fair Value Measurements - Narrative (Details) - USD ($)	Mar. 31, 2024	Mar. 01, 2024	Dec. 31, 2023	Feb. 28, 2022	Jun. 30, 2020
Debt Instrument [Line Items]
Equity investment in a privately-held company	$ 2,000,000		$ 2,000,000	$ 2,000,000
Nonrecurring
Debt Instrument [Line Items]
Assets and liabilities measured at fair value on nonrecurring basis	$ 0		0
Convertible Senior Notes, Due 2029 \| Convertible Debt
Debt Instrument [Line Items]
Stated interest rate on debt (as a percent)	1%
Debt instrument, repurchase amount	$ 313,100,000
Convertible Senior Notes, Due 2029 \| Convertible Debt \| Level 2
Debt Instrument [Line Items]
Fair value of long-term debt	775,200,000
Convertible Senior Notes, Due 2029 \| Convertible Debt \| Private Placement
Debt Instrument [Line Items]
Aggregate principal amount of debt	747,500,000
Convertible Senior Notes, Due 2025 \| Convertible Debt
Debt Instrument [Line Items]
Stated interest rate on debt (as a percent)					0.50%
Debt instrument, repurchase amount	313,100,000	$ 313,100,000
Convertible Senior Notes, Due 2025 \| Convertible Debt \| Level 2
Debt Instrument [Line Items]
Fair value of long-term debt	$ 409,900,000		$ 718,300,000
Convertible Senior Notes, Due 2025 \| Convertible Debt \| Private Placement
Debt Instrument [Line Items]
Aggregate principal amount of debt					$ 747,500,000

Financial Statement Component_2

Financial Statement Components - Schedule of Cash and Cash Equivalents (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023	Dec. 31, 2022
Cash and Cash Equivalents [Line Items]
Total cash and cash equivalents	$ 240,190	$ 143,201	$ 141,359	$ 180,520
Cash
Cash and Cash Equivalents [Line Items]
Total cash and cash equivalents	78,218	69,566
Money market funds
Cash and Cash Equivalents [Line Items]
Total cash and cash equivalents	93,396	66,661
Certificates of deposit
Cash and Cash Equivalents [Line Items]
Total cash and cash equivalents	488	493
U.S. treasury securities
Cash and Cash Equivalents [Line Items]
Total cash and cash equivalents	67,030	4,983
U.S. agency and government sponsored securities
Cash and Cash Equivalents [Line Items]
Total cash and cash equivalents	1,058	0
Commercial paper
Cash and Cash Equivalents [Line Items]
Total cash and cash equivalents	$ 0	$ 1,498

Financial Statement Component_3

Financial Statement Components - Schedule of Accounts Receivable (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Accounts Receivable [Line Items]
Provision for credit losses	$ (281)	$ (264)
Accounts receivable, net	103,157	97,424
Trade accounts receivable
Accounts Receivable [Line Items]
Trade accounts receivable	93,524	86,912
Unbilled trade accounts receivable, net of advance client deposits
Accounts Receivable [Line Items]
Trade accounts receivable	$ 9,914	$ 10,776

Financial Statement Component_4

Financial Statement Components - Narrative (Details)	3 Months Ended	12 Months Ended
Financial Statement Components - Narrative (Details)	Mar. 31, 2024	Dec. 31, 2023
One Client \| Accounts Receivable \| Customer Concentration Risk
Concentration Risk [Line Items]
Percentage of total account receivable	11%	11%

Financial Statement Component_5

Financial Statement Components - Schedule of Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Prepaid expenses	$ 26,148	$ 22,023
Other current assets	8,827	8,493
Contract assets	652	4,106
Prepaid expenses and other current assets	$ 35,627	$ 34,622

Financial Statement Component_6

Financial Statement Components - Schedule of Property and Equipment (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Property and equipment	$ 259,377		$ 246,274
Accumulated depreciation and amortization	(145,737)		(137,702)
Property and equipment, net	113,640		108,572
Depreciation and amortization associated with property and equipment	9,500	$ 8,500
Computer and network equipment
Property, Plant and Equipment [Line Items]
Property and equipment	161,960		155,997
Computer software
Property, Plant and Equipment [Line Items]
Property and equipment	61,993		59,452
Internal-use software development costs
Property, Plant and Equipment [Line Items]
Property and equipment	24,279		19,734
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property and equipment	4,705		4,666
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment	$ 6,440		$ 6,425

Financial Statement Component_7

Financial Statement Components - Schedule of Other Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023	Feb. 28, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Other assets	$ 11,150	$ 10,433
Equity investment in a privately-held company	2,000	2,000	$ 2,000
Deferred tax assets	3,518	3,766
Other assets	$ 16,668	$ 16,199

Financial Statement Component_8

Financial Statement Components - Schedule of Accrued and Other Current Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accrued expenses	$ 18,130	$ 18,282
Accrued compensation and benefits	53,525	35,927
Accrued federal fees	4,651	4,166
Sales tax liabilities	2,879	3,756
Accrued and other current liabilities	$ 79,185	$ 62,131

Financial Statement Component_9

Financial Statement Components - Schedule of Long-term Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Deferred revenue	$ 1,066	$ 1,350
Sales tax liabilities	933	926
Other long-term liabilities	4,602	5,612
Other long-term liabilities	$ 6,601	$ 7,888

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Aug. 14, 2023
Indefinite-lived Intangible Assets [Line Items]
Goodwill	$ 227,269		$ 227,412
Amortization	$ 2,648	$ 2,800
Aceyus, Inc.
Indefinite-lived Intangible Assets [Line Items]
Goodwill				$ 61,849
Intangible assets				$ 22,100

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Goodwill and Intangible Asset Activity (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Goodwill
Beginning of the period, December 31, 2023	$ 227,412
Measurement period adjustment (Aceyus)	(143)
End of the period, March 31, 2024	227,269
Intangible Assets
Beginning of the period, December 31, 2023	38,323
Amortization	(2,648)	$ (2,800)
End of the period, March 31, 2024	$ 35,675

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Acquired Finite-Lived Intangible Assets
Gross Carrying Amount	$ 80,434	$ 80,934
Accumulated Amortization	(44,759)	(42,611)
Net Carrying Amount	$ 35,675	$ 38,323
Weighted Average Remaining Amortization period (Years)	5 years	5 years 1 month 6 days
Developed technology
Acquired Finite-Lived Intangible Assets
Gross Carrying Amount	$ 75,314	$ 75,314
Accumulated Amortization	(42,725)	(40,327)
Net Carrying Amount	$ 32,589	$ 34,987
Weighted Average Remaining Amortization period (Years)	5 years 1 month 6 days	5 years 2 months 12 days
Acquired workforce
Acquired Finite-Lived Intangible Assets
Gross Carrying Amount	$ 470	$ 470
Accumulated Amortization	(470)	(470)
Net Carrying Amount	$ 0	$ 0
Weighted Average Remaining Amortization period (Years)	0 years	0 years
Customer relationships
Acquired Finite-Lived Intangible Assets
Gross Carrying Amount	$ 4,150	$ 4,150
Accumulated Amortization	(1,460)	(1,252)
Net Carrying Amount	$ 2,690	$ 2,898
Weighted Average Remaining Amortization period (Years)	3 years 10 months 24 days	4 years 1 month 6 days
Trademarks
Acquired Finite-Lived Intangible Assets
Gross Carrying Amount	$ 500	$ 1,000
Accumulated Amortization	(104)	(562)
Net Carrying Amount	$ 396	$ 438
Weighted Average Remaining Amortization period (Years)	2 years 4 months 24 days	2 years 7 months 6 days

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets - Future Amortization Expense (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Remaining 2024	$ 7,943
2025	8,660
2026	7,201
2027	2,898
2028	2,706
Thereafter	6,267
Net Carrying Amount	$ 35,675	$ 38,323

Debt - Narrative (Details)

Debt - Narrative (Details) $ / shares in Units, shares in Millions		1 Months Ended	2 Months Ended	3 Months Ended
	Mar. 31, 2024 USD ($) $ / shares shares	Mar. 31, 2024 USD ($) $ / shares shares	Jun. 30, 2020 USD ($) $ / shares	Mar. 31, 2024 USD ($) day $ / shares Rate shares	Mar. 31, 2023 USD ($)	Mar. 01, 2024 USD ($)	Feb. 27, 2024 $ / shares	May 21, 2020 $ / shares
Debt Instrument [Line Items]
Gain on early extinguishment of debt				$ 6,615,000	$ 0
Convertible Senior Notes, Due 2025 \| Convertible Debt
Debt Instrument [Line Items]
Debt instrument, repurchase amount	$ 313,100,000	$ 313,100,000		313,100,000		$ 313,100,000
Aggregate consideration to repurchase note						$ 304,900,000
Gain on early extinguishment of debt				6,600,000
Cash received from unwound capped call settlement				$ 500,000
Stated interest rate on debt (as a percent)			0.50%
Proceeds from issuance of debt			$ 728,800,000
Conversion ratio on convertible debt \| Rate				0.74437%
Conversion price on convertible debt (in USD per share) \| $ / shares	$ 134.34	$ 134.34		$ 134.34
Premium on conversion price in relation to closing price (as a percent)								30%
Closing price of common stock (in USD per share) \| $ / shares	$ 62.11	$ 62.11		$ 62.11				$ 103.34
Sinking fund payment				$ 0
Effective interest rate on debt (as a percent)	1%	1%		1%
Cap initial strike price (in USD per share) \| $ / shares			$ 134.34
Cap price of the capped call transactions (in USD per share) \| $ / shares			$ 206.68
Number of shares covered in the capped call transactions (in shares) \| shares	3.2	3.2		3.2
Share price of common stock with conversion premium (in USD per share) \| $ / shares	$ 174.64	$ 174.64		$ 174.64
Convertible Senior Notes, Due 2025 \| Convertible Debt \| Fundamental Change Event
Debt Instrument [Line Items]
Debt redemption price as percentage of principal amount (as a percent)				100%
Convertible Senior Notes, Due 2025 \| Convertible Debt \| On or After June 6, 2023
Debt Instrument [Line Items]
Number of trading days (in days) \| day				20
Number of consecutive trading days (in days) \| day				30
Threshold percentage of stock price trigger (as a percent)	130%			130%
Debt redemption price as percentage of principal amount (as a percent)				100%
Number of trading days preceding notice of redemption (in days) \| day				2
Convertible Senior Notes, Due 2025 \| Convertible Debt \| Convertible, Term One
Debt Instrument [Line Items]
Number of trading days (in days) \| day				20
Number of consecutive trading days (in days) \| day				30
Threshold percentage of stock price trigger (as a percent)				130%
Convertible Senior Notes, Due 2025 \| Convertible Debt \| Convertible, Term Two
Debt Instrument [Line Items]
Number of trading days (in days) \| day				5
Number of consecutive trading days (in days) \| day				5
Threshold percentage of stock price trigger (as a percent)				98%
Convertible Senior Notes, Due 2025 \| Convertible Debt \| Private Placement
Debt Instrument [Line Items]
Aggregate principal amount of debt			$ 747,500,000
Option to purchase additional debt through private offering			$ 97,500,000
Convertible Senior Notes, Due 2029 \| Convertible Debt
Debt Instrument [Line Items]
Debt instrument, repurchase amount	$ 313,100,000	$ 313,100,000		$ 313,100,000
Stated interest rate on debt (as a percent)	1%	1%		1%
Proceeds from issuance of debt		$ 728,900,000
Conversion ratio on convertible debt \| Rate				1.25918%
Conversion price on convertible debt (in USD per share) \| $ / shares	$ 79.42	$ 79.42		$ 79.42
Premium on conversion price in relation to closing price (as a percent)							30%
Closing price of common stock (in USD per share) \| $ / shares							$ 61.09
Minimum aggregate principal amount outstanding	$ 100,000,000	$ 100,000,000		$ 100,000,000
Sinking fund payment				$ 0
Effective interest rate on debt (as a percent)	1.49%	1.49%		1.49%
Cap initial strike price (in USD per share) \| $ / shares		$ 79.42
Cap price of the capped call transactions (in USD per share) \| $ / shares		$ 122.18
Number of shares covered in the capped call transactions (in shares) \| shares	9.4	9.4		9.4
Convertible debt	$ 434,400,000	$ 434,400,000		$ 434,400,000
Convertible Senior Notes, Due 2029 \| Convertible Debt \| Fundamental Change Event
Debt Instrument [Line Items]
Debt redemption price as percentage of principal amount (as a percent)				100%
Convertible Senior Notes, Due 2029 \| Convertible Debt \| On or After June 6, 2023
Debt Instrument [Line Items]
Number of trading days (in days) \| day				20
Number of consecutive trading days (in days) \| day				30
Threshold percentage of stock price trigger (as a percent)				130%
Debt redemption price as percentage of principal amount (as a percent)				100%
Convertible Senior Notes, Due 2029 \| Convertible Debt \| Convertible, Term One
Debt Instrument [Line Items]
Number of trading days (in days) \| day				20
Number of consecutive trading days (in days) \| day				30
Threshold percentage of stock price trigger (as a percent)				130%
Convertible Senior Notes, Due 2029 \| Convertible Debt \| Convertible, Term Two
Debt Instrument [Line Items]
Number of trading days (in days) \| day				5
Number of consecutive trading days (in days) \| day				5
Threshold percentage of stock price trigger (as a percent)				98%
Convertible Senior Notes, Due 2029 \| Convertible Debt \| Private Placement
Debt Instrument [Line Items]
Aggregate principal amount of debt	747,500,000	747,500,000		$ 747,500,000
Option to purchase additional debt through private offering	$ 97,500,000	$ 97,500,000		$ 97,500,000

Debt - Schedule of Net Carrying

Debt - Schedule of Net Carrying Amount of the Liability Component of the Notes (Details) - Convertible Debt - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Convertible Senior Notes, Due 2025
Debt Instrument [Line Items]
Principal	$ 747,500	$ 747,500
Unamortized issuance costs	(2,590)	(5,375)
Principal repaid	(313,095)	0
Net carrying amount	431,815	$ 742,125
Convertible Senior Notes, Due 2029
Debt Instrument [Line Items]
Unamortized issuance costs	(18,343)
Net carrying amount	$ 729,157

Debt - Schedule of Interest Exp

Debt - Schedule of Interest Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Debt Instrument [Line Items]
Total interest expense	$ 2,567	$ 1,845
Convertible Senior Notes, Due 2025 \| Convertible Debt
Debt Instrument [Line Items]
Contractual interest expense	804	934
Amortization of issuance costs	790	908
Total interest expense	1,594	$ 1,842
Convertible Senior Notes, Due 2029 \| Convertible Debt
Debt Instrument [Line Items]
Contractual interest expense	623
Amortization of issuance costs	284
Total interest expense	$ 907

Stockholders' Equity - Capital

Stockholders' Equity - Capital Structure (Narrative) (Details) - $ / shares	Mar. 31, 2024	Dec. 31, 2023
Stockholders' Equity Capital Structure [Line Items]
Common stock shares authorized (in shares)	450,000,000
Common stock par value (in USD per share)	$ 0.001
Common stock shares issued (in shares)	73,849,081	73,316,968
Common stock shares outstanding (in shares)	73,849,081	73,316,968
Preferred stock shares authorized (up to) (in shares)	5,000,000
Preferred stock par value (in USD per share)	$ 0.001
Preferred stock shares issued (in shares)	0	0
Preferred stock shares outstanding (in shares)	0	0
Closing market price of common stock (in USD per share)	$ 62.11

Stockholders' Equity - Common S

Stockholders' Equity - Common Stock Reserved for Future Issuance (Details) shares in Thousands	Mar. 31, 2024 shares
Class of Stock
Total shares of common stock reserved (in shares)	28,450
2014 Plan
Class of Stock
Total shares of common stock reserved (in shares)	17,173
Stock Option
Class of Stock
Total shares of common stock reserved (in shares)	902
RSUs (including PRSUs)
Class of Stock
Total shares of common stock reserved (in shares)	5,705
Shares available for future issuance under ESPP
Class of Stock
Total shares of common stock reserved (in shares)	4,670

Stockholders' Equity - Stock Op

Stockholders' Equity - Stock Option Activity (Details) - Stock Option $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($) $ / shares shares
Number of Shares
Outstanding, beginning balance (in shares) \| shares	918
Options granted (in shares) \| shares	0
Options exercised (in shares) \| shares	(14)
Options forfeited or expired (in shares) \| shares	(2)
Outstanding, ending balance (in shares) \| shares	902
Weighted Average Exercise Price
Outstanding, beginning balance, weighted average exercise price (in USD per share) \| $ / shares	$ 55.96
Options granted, weighted average exercise price (in USD per share) \| $ / shares	0
Options exercised, weighted average exercise price (in USD per share) \| $ / shares	26.85
Options forfeited or expired, weighted average exercise price (in USD per share) \| $ / shares	174.78
Outstanding, ending balance, weighted average exercise price (in USD per share) \| $ / shares	$ 56.23
Outstanding, ending balance, weighted average remaining contractual life (years)	4 years 6 months
Outstanding, ending balance, aggregate intrinsic value \| $	$ 22,648

Stockholders' Equity - RSU Acti

Stockholders' Equity - RSU Activity (Details)	3 Months Ended
Stockholders' Equity - RSU Activity (Details)	Mar. 31, 2024 $ / shares shares
RSUs (including PRSUs)
Number of Shares
Outstanding, beginning balance (in shares)	4,076,000
RSUs granted (in shares)	2,210,000
RSUs vested and released (in shares)	(518,000)
RSUs forfeited or cancelled (in shares)	(63,000)
Outstanding, ending balance (in shares)	5,705,000
Weighted Average Grant Date Fair Value Per Share
Outstanding, beginning balance, weighted-average grant date fair value per share (in USD per share) \| $ / shares	$ 83.25
RSUs granted, weighted average grant date fair value (in USD per share) \| $ / shares	59.04
RSUs vested and released, weighted average grant date fair value (in USD per share) \| $ / shares	82.33
RSUs forfeited or cancelled, weighted average grant date fair value (in USD per share) \| $ / shares	87.09
Outstanding, ending balance, weighted-average grant date fair value per share (in USD per share) \| $ / shares	$ 73.57
Performance Based And Market Based Restricted Stock Units PRSUs
Number of Shares
RSUs granted (in shares)	159,016

Stockholders' Equity - Performa

Stockholders' Equity - Performance-Based Restricted Stock Units (Narrative) (Details) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2024 USD ($) period Rate shares	Mar. 31, 2023 Rate	Dec. 31, 2023 USD ($) shares	Dec. 31, 2022 USD ($) installment goal shares
Market-Based PRSUs
Stockholders' Equity Capital Structure [Line Items]
Equity instruments granted (in shares) \| shares	159,016		35,921	284,282
Equity instruments granted, weighted average grant date fair value \| $	$ 9.6		$ 3.1	$ 30.6
PRSUs
Stockholders' Equity Capital Structure [Line Items]
Earnout target percentage (as a percent)	98%	58.70%
Number of performance periods \| period	3
Term of the performance period (in years)	1 year
Actual total shareholder return (as a percent)	19.95%	(52.64%)
Relative total shareholder return ranking (as a percent)	53.80%
PRSUs \| Tranche One
Stockholders' Equity Capital Structure [Line Items]
Award vesting percentage	33.33%
PRSUs \| Tranche Two
Stockholders' Equity Capital Structure [Line Items]
Award vesting percentage	66.67%
PRSUs \| Payout At The 25th TSR Percentile
Stockholders' Equity Capital Structure [Line Items]
Earnout target percentage (as a percent)		50%
PRSUs \| Payout At The 55th TSR Percentile
Stockholders' Equity Capital Structure [Line Items]
Earnout target percentage (as a percent)		100%
PRSUs \| Payout At The 90th TSR Percentile
Stockholders' Equity Capital Structure [Line Items]
Earnout target percentage (as a percent)		200%
PRSUs \| Minimum
Stockholders' Equity Capital Structure [Line Items]
Earnout target percentage (as a percent)	0	0%
PRSUs \| Maximum
Stockholders' Equity Capital Structure [Line Items]
Earnout target percentage (as a percent)	2	200%
PRSUs \| Maximum \| Shareholder for Performance Any Period is Negative
Stockholders' Equity Capital Structure [Line Items]
Earnout target percentage (as a percent)	1
PRSUs \| Maximum \| Executive Employment Terminates due to Death by end of 2024
Stockholders' Equity Capital Structure [Line Items]
Earnout target percentage (as a percent)	1
PRSUs \| Maximum \| Executive Employment Terminates due to Disability by end of 2024
Stockholders' Equity Capital Structure [Line Items]
Earnout target percentage (as a percent)	0.50
Performance-Based Restricted Stock Units (PRSUs) 2023-2025
Stockholders' Equity Capital Structure [Line Items]
Earnout target percentage (as a percent)	92.50%
Actual total shareholder return (as a percent)	19.95%
Relative total shareholder return ranking (as a percent)	50.50%
Revenue-Based PRSUs
Stockholders' Equity Capital Structure [Line Items]
Equity instruments granted (in shares) \| shares				66,167
Equity instruments granted, weighted average grant date fair value \| $				$ 6.6
Number of quarterly revenue goals \| goal				2
Revenue-Based PRSUs \| Tranche One
Stockholders' Equity Capital Structure [Line Items]
Number of quarterly installments \| installment				4
Revenue-Based PRSUs \| Tranche Two
Stockholders' Equity Capital Structure [Line Items]
Number of quarterly installments \| installment				8

Stockholders' Equity - Stock-ba

Stockholders' Equity - Stock-based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Stock-based Compensation Expense
Total stock-based compensation expense	$ 44,684	$ 50,743
Stock Option
Stock-based Compensation Expense
Unrecognized stock-based compensation expense	$ 3,626
Weighted-average amortization period	1 year 4 months 24 days
RSU (excluding PRSUs)
Stock-based Compensation Expense
Unrecognized stock-based compensation expense	$ 369,349
Weighted-average amortization period	3 years 1 month 6 days
PRSU
Stock-based Compensation Expense
Unrecognized stock-based compensation expense	$ 19,581
Weighted-average amortization period	1 year 10 months 24 days
ESPP
Stock-based Compensation Expense
Unrecognized stock-based compensation expense	$ 952
Weighted-average amortization period	1 month 6 days
Cost of revenue
Stock-based Compensation Expense
Total stock-based compensation expense	$ 7,603	9,333
Research and development
Stock-based Compensation Expense
Total stock-based compensation expense	10,930	12,382
Sales and marketing
Stock-based Compensation Expense
Total stock-based compensation expense	14,020	17,045
General and administrative
Stock-based Compensation Expense
Total stock-based compensation expense	$ 12,131	$ 11,983

Stockholders' Equity - Valuatio

Stockholders' Equity - Valuation Assumptions (Details) - $ / shares	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Class of Stock
Closing price of common stock as of grant date (in USD per share)	$ 62.11
Dividend yield (in percent)	0%	0%
PRSUs
Class of Stock
Closing price of common stock as of grant date (in USD per share)	$ 63.38	$ 68.15
Expected term (years)	2 years 10 months 6 days	2 years 10 months 2 days
Volatility	49.40%	51.10%
Risk-free interest rate	4.50%	4.50%
Dividend yield (in percent)	0%	0%

Net Loss Per Share - Basic and

Net Loss Per Share - Basic and Diluted Net Loss Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Earnings Per Share [Abstract]
Net loss	$ (7,077)	$ (27,248)
Weighted-average shares used in computing basic net loss per share (in shares)	73,488	71,259
Weighted-average shares used in computing diluted net loss per share (in shares)	73,488	71,259
Basic net loss per share (in USD per share)	$ (0.10)	$ (0.38)
Diluted net loss per share (in USD per share)	$ (0.10)	$ (0.38)

Net Loss Per Share - Antidiluti

Net Loss Per Share - Antidilutive Securities Excluded from Computation of Diluted Net Loss Per Share (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share
Total (in shares)	14,506	11,713
Stock Option
Antidilutive Securities Excluded from Computation of Earnings Per Share
Total (in shares)	902	1,303
RSUs (including PRSUs)
Antidilutive Securities Excluded from Computation of Earnings Per Share
Total (in shares)	5,705	4,842
Convertible senior notes
Antidilutive Securities Excluded from Computation of Earnings Per Share
Total (in shares)	7,899	5,568

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023
Income Tax Disclosure [Abstract]
Provision for income taxes	$ 989	$ 527

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($)
Convertible Debt \| Convertible Senior Notes, Due 2025
Other Commitments [Line Items]
Debt balance	$ 434,400
Convertible Debt \| Convertible Senior Notes, Due 2029
Other Commitments [Line Items]
Debt balance	747,500
Hosting and telecommunications agreement
Other Commitments [Line Items]
Total commitments under agreements	13,600
Purchase Commitment - Cloud Services Agreement
Other Commitments [Line Items]
Expiring commercial commitment balance	89,200
Commercial commitment to be paid remainder of 2024	14,300
Commercial commitment to be paid in year 2025	47,300
Commercial commitment to be paid in year 2026	$ 27,600
Maximum \| Hosting and telecommunications agreement
Other Commitments [Line Items]
Period for various agreements (in months)	57 months

Geographical Information - Sche

Geographical Information - Schedule of Revenue and Property and Equipment by Geographic Region (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Revenues from External Customers and Long-Lived Assets
Total revenue	$ 247,010	$ 218,439
Property and equipment, net	113,640		$ 108,572
United States
Revenues from External Customers and Long-Lived Assets
Total revenue	219,260	195,363
Property and equipment, net	106,426		101,567
International
Revenues from External Customers and Long-Lived Assets
Total revenue	27,750	$ 23,076
Property and equipment, net	$ 7,214		$ 7,005

Leases - Narrative (Details)

Leases - Narrative (Details) $ in Millions	3 Months Ended
Leases - Narrative (Details) $ in Millions	Mar. 31, 2024 USD ($)
Lessee, Lease, Description [Line Items]
Operating lease termination notice, period (in days)	30 days
Operating lease not yet commenced, term of lease (in years)	6 years
Total commitment	$ 5.1
Minimum
Lessee, Lease, Description [Line Items]
Operating lease, term of contract (in years)	1 year
Operating lease, extension term (in years)	1 year
Maximum
Lessee, Lease, Description [Line Items]
Operating lease, term of contract (in years)	7 years
Operating lease, extension term (in years)	5 years

Leases - Lease Cost and Supplem

Leases - Lease Cost and Supplemental Cash Flow (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Leases [Abstract]
Operating lease cost	$ 3,266	$ 3,382
Finance lease cost:
Amortization of right-of-use assets	456	63
Interest on finance lease liabilities	66	0
Total finance lease cost	522	63
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash used in operating leases	(3,119)	(3,275)
Financing cash used in finance leases	(479)	0
Right of use assets obtained in exchange for lease obligations:
Operating leases	209	4,153
Finance leases	$ 0	$ 0

Leases - Balance Sheet Disclosu

Leases - Balance Sheet Disclosures (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Operating leases
Operating lease right-of-use assets	$ 36,215	$ 38,873
Operating lease liabilities	9,880	10,731
Operating lease liabilities — less current portion	34,207	36,378
Total operating lease liabilities	44,087	47,109
Finance leases
Finance lease right-of-use assets	4,108	4,564
Finance lease liabilities	1,791	1,767
Finance lease liabilities — less current portion	2,414	2,877
Total finance lease liabilities	$ 4,205	$ 4,644

Leases - Weighted Average Remai

Leases - Weighted Average Remaining Terms and Discount Rates (Details)	Mar. 31, 2024	Dec. 31, 2023
Leases [Abstract]
Operating leases (in years)	5 years 7 months 6 days	5 years 8 months 12 days
Finance leases (in years)	2 years 3 months 18 days	2 years 7 months 6 days
Operating leases (in percent)	3.80%	3.80%
Finance leases (in percent)	6.10%	6.10%

Leases - Lease Maturities (Deta

Leases - Lease Maturities (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Operating Leases
Remaining 2024	$ 8,783
2025	9,364
2026	7,153
2027	5,957
2028	5,582
Thereafter	11,709
Total future minimum lease payments	48,548
Less: imputed interest	(4,461)
Total	44,087	$ 47,109
Finance Leases
Remaining 2024	1,491
2025	1,987
2026	1,012
2027	0
2028	0
Thereafter	0
Total future minimum lease payments	4,490
Less: imputed interest	(285)
Total	$ 4,205	$ 4,644

Acquisition - Narrative (Detail

Acquisition - Narrative (Details) $ in Thousands		3 Months Ended	12 Months Ended
Acquisition - Narrative (Details) $ in Thousands	Aug. 14, 2023 USD ($)	Mar. 31, 2024 USD ($) opportunity	Dec. 31, 2023 USD ($)
Business Acquisition [Line Items]
Number of business opportunities \| opportunity		2
Goodwill		$ 227,269	$ 227,412
Aceyus, Inc.
Business Acquisition [Line Items]
Consideration transferred	$ 82,000
Goodwill	$ 61,849
Measurement period adjustment		100
Acquisition-related transaction costs		$ 0	$ 2,200
Aceyus, Inc. \| Acquired technology
Business Acquisition [Line Items]
Acquired finite-lived intangible assets, weighted average useful life (Years)	8 years
Aceyus, Inc. \| Customer relationships
Business Acquisition [Line Items]
Acquired finite-lived intangible assets, weighted average useful life (Years)	5 years
Aceyus, Inc. \| Trademarks
Business Acquisition [Line Items]
Acquired finite-lived intangible assets, weighted average useful life (Years)	3 years

Acquisition - Schedule of Recog

Acquisition - Schedule of Recognized Identified Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023	Aug. 14, 2023
Business Acquisition [Line Items]
Goodwill	$ 227,269	$ 227,412
Aceyus, Inc.
Business Acquisition [Line Items]
Cash			$ 1,523
Tangible assets acquired			383
Other assets acquired			3,002
Goodwill			61,849
Total assets acquired			88,907
Liabilities assumed			(6,895)
Total			82,012
Aceyus, Inc. \| Acquired technology
Business Acquisition [Line Items]
Finite-lived intangibles acquired			19,100
Aceyus, Inc. \| Customer relationships
Business Acquisition [Line Items]
Finite-lived intangibles acquired			2,550
Aceyus, Inc. \| Trademarks
Business Acquisition [Line Items]
Finite-lived intangibles acquired			$ 500

Uncategorized Items - fivn-2024

Label	Element	Value
Restricted Cash and Cash Equivalents	us-gaap_RestrictedCashAndCashEquivalents	$ 467,000
Restricted Cash and Cash Equivalents	us-gaap_RestrictedCashAndCashEquivalents	$ 1,641,000