Rapid7 (RPD) 10-Q6 Nov 232023 Q3 Quarterly reportFinancial data

Company Profile

Cover Page

Cover Page - shares	9 Months Ended
Cover Page - shares	Sep. 30, 2023	Oct. 31, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2023
Document Transition Report	false
Entity File Number	001-37496
Entity Registrant Name	RAPID7, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	35-2423994
Entity Address, Address Line One	120 Causeway Street
Entity Address, City or Town	Boston,
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	02114
City Area Code	617
Local Phone Number	247-1717
Title of 12(b) Security	Common Stock, $0.01 par value per share
Trading Symbol	RPD
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		61,446,973
Entity Central Index Key	0001560327
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Amendment Flag	false

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 182,727	$ 207,287
Short-term investments	139,434	84,162
Accounts receivable, net of allowance for credit losses of $789 and $2,299 at September 30, 2023 and December 31, 2022, respectively	137,690	152,045
Deferred contract acquisition and fulfillment costs, current portion	40,909	34,906
Prepaid expenses and other current assets	35,087	31,907
Total current assets	535,847	510,307
Long-term investments	50,603	9,756
Property and equipment, net	42,449	57,891
Operating lease right-of-use assets	53,275	79,342
Deferred contract acquisition and fulfillment costs, non-current portion	71,654	68,169
Goodwill	536,305	515,631
Intangible assets, net	99,993	101,269
Other assets	9,174	16,626
Total assets	1,399,300	1,358,991
Current liabilities:
Accounts payable	8,951	10,255
Accrued expenses	63,388	80,306
Operating lease liabilities, current portion	12,472	12,444
Deferred revenue, current portion	421,898	426,599
Other current liabilities	888	1,663
Total current liabilities	507,597	531,267
Convertible senior notes, non-current portion, net	928,892	815,948
Operating lease liabilities, non-current portion	81,065	85,946
Deferred revenue, non-current portion	29,344	31,040
Other long-term liabilities	14,047	14,864
Total liabilities	1,560,945	1,479,065
Stockholders’ deficit:
Preferred stock, $0.01 par value per share; 10,000,000 shares authorized at September 30, 2023 and December 31, 2022; 0 shares issued at September 30, 2023 and December 31, 2022	0	0
Common stock, $0.01 par value per share; 100,000,000 shares authorized at September 30, 2023 and December 31, 2022; 61,991,937 and 60,206,277 shares issued at September 30, 2023 and December 31, 2022, respectively; 61,422,358 and 59,719,469 shares outstanding at September 30. 2023 and December 31, 2022, respectively	614	597
Treasury stock, at cost, 569,579 and 486,808 shares at September 30, 2023 and December 31, 2022, respectively	(4,765)	(4,764)
Additional paid-in-capital	873,381	746,249
Accumulated other comprehensive loss	(822)	(1,411)
Accumulated deficit	(1,030,053)	(860,745)
Total stockholders’ deficit	(161,645)	(120,074)
Total liabilities and stockholders’ deficit	$ 1,399,300	$ 1,358,991

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Net of allowance for doubtful accounts	$ 789	$ 2,299
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, shares issued (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	61,991,937	60,206,277
Common stock, shares outstanding (in shares)	61,422,358	59,719,469
Treasury stock, shares (in shares)	569,579	486,808

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Revenue:
Total revenue	$ 198,843	$ 175,765	$ 572,439	$ 500,604
Cost of revenue:
Total cost of revenue	57,830	53,850	171,993	159,414
Total gross profit	141,013	121,915	400,446	341,190
Operating expenses:
Research and development	39,940	48,622	137,048	147,341
Sales and marketing	75,699	75,968	239,322	229,148
General and administrative	17,866	20,561	64,961	62,967
Impairment of long-lived assets	3,553	0	30,784	0
Restructuring	19,996	0	19,996	0
Total operating expenses	157,054	145,151	492,111	439,456
Loss from operations	(16,041)	(23,236)	(91,665)	(98,266)
Other income (expense), net:
Interest income	2,545	498	6,000	853
Interest expense	(56,515)	(2,749)	(62,005)	(8,200)
Other income (expense), net	(4,518)	(2,205)	(18,093)	(5,211)
Loss before income taxes	(74,529)	(27,692)	(165,763)	(110,824)
Provision for income taxes	2,082	1,035	3,545	2,508
Net loss	$ (76,611)	$ (28,727)	$ (169,308)	$ (113,332)
Net loss per share, basic (in dollars per share)	$ (1.25)	$ (0.49)	$ (2.80)	$ (1.95)
Net loss per share, diluted (in dollars per share)	$ (1.25)	$ (0.49)	$ (2.80)	$ (1.95)
Weighted-average common shares outstanding, basic (in Shares)	61,065,157	58,730,651	60,506,082	58,229,872
Weighted-average common shares outstanding, diluted (in Shares)	61,065,157	58,730,651	60,506,082	58,229,872
Products
Revenue:
Total revenue	$ 189,876	$ 166,496	$ 545,349	$ 474,643
Cost of revenue:
Total cost of revenue	51,261	45,957	150,597	135,296
Professional services
Revenue:
Total revenue	8,967	9,269	27,090	25,961
Cost of revenue:
Total cost of revenue	$ 6,569	$ 7,893	$ 21,396	$ 24,118

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Statement of Comprehensive Income [Abstract]
Net loss	$ (76,611)	$ (28,727)	$ (169,308)	$ (113,332)
Other comprehensive income (loss):
Change in fair value of cash flow hedges	(1,120)	(3,355)	(481)	(7,280)
Adjustments for net (gains) losses realized on cash flow hedges and included in net loss	(49)	1,361	531	2,438
Total change in unrealized (losses) gains on cash flow hedges	(1,169)	(1,994)	50	(4,842)
Change in unrealized gains (losses) on investments	97	(166)	539	(1,044)
Total other comprehensive (loss) income	(1,072)	(2,160)	589	(5,886)
Comprehensive loss	$ (77,683)	$ (30,887)	$ (168,719)	$ (119,218)

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Deficit (Unaudited) - USD ($) $ in Thousands	Total	Common stock	Treasury stock	Additional paid-in-capital	Accumulated other comprehensive loss	Accumulated deficit
Common stock, beginning balance (in shares) at Dec. 31, 2021		57,695,000
Beginning balance at Dec. 31, 2021	$ (125,995)	$ 577	$ (4,764)	$ 615,032	$ (812)	$ (736,028)
Treasury stock, beginning balance (in shares) at Dec. 31, 2021			487,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	96,111			96,111
Issuance of common stock under employee stock purchase plan (in shares)		218,000
Issuance of common stock under employee stock purchase plan	11,943	$ 2		11,941
Vesting of restricted stock units (in shares)		1,147,000
Vesting of restricted stock units	0	$ 11		(11)
Shares withheld for employee taxes (in shares)		(82,000)
Shares withheld for employee taxes	(6,743)			(6,743)
Issuance of common stock upon exercise of stock options (in shares)		193,000
Issuance of common stock upon exercise of stock options	1,621	$ 2		1,619
Issuance of common stock in connection with conversion of convertible senior notes	(3)			(3)
Issuance of common stock related to acquisition (in shares)		33,000
Other comprehensive gain (loss)	(5,886)				(5,886)
Net loss	(113,332)					(113,332)
Common stock, ending balance (in shares) at Sep. 30, 2022		59,204,000
Treasury stock, ending balance (in shares) at Sep. 30, 2022			487,000
Ending balance at Sep. 30, 2022	(142,284)	$ 592	$ (4,764)	717,946	(6,698)	(849,360)
Common stock, beginning balance (in shares) at Jun. 30, 2022		58,636,000
Beginning balance at Jun. 30, 2022	(148,155)	$ 586	$ (4,764)	681,194	(4,538)	(820,633)
Treasury stock, beginning balance (in shares) at Jun. 30, 2022			487,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	31,746			31,746
Issuance of common stock under employee stock purchase plan (in shares)		137,000
Issuance of common stock under employee stock purchase plan	6,233	$ 1		6,232
Vesting of restricted stock units (in shares)		381,000
Vesting of restricted stock units	0	$ 4		(4)
Shares withheld for employee taxes (in shares)		(23,000)
Shares withheld for employee taxes	(1,637)			(1,637)
Issuance of common stock upon exercise of stock options (in shares)		73,000
Issuance of common stock upon exercise of stock options	416	$ 1		415
Other comprehensive gain (loss)	(2,160)				(2,160)
Net loss	(28,727)					(28,727)
Common stock, ending balance (in shares) at Sep. 30, 2022		59,204,000
Treasury stock, ending balance (in shares) at Sep. 30, 2022			487,000
Ending balance at Sep. 30, 2022	$ (142,284)	$ 592	$ (4,764)	717,946	(6,698)	(849,360)
Common stock, beginning balance (in shares) at Dec. 31, 2022	59,719,469	59,720,000
Beginning balance at Dec. 31, 2022	$ (120,074)	$ 597	$ (4,764)	746,249	(1,411)	(860,745)
Treasury stock, beginning balance (in shares) at Dec. 31, 2022	486,808		487,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	$ 84,513			84,513
Issuance of common stock under employee stock purchase plan (in shares)		330,000
Issuance of common stock under employee stock purchase plan	11,323	$ 4		11,319
Vesting of restricted stock units (in shares)		1,139,000
Vesting of restricted stock units	0	$ 10		(10)
Shares withheld for employee taxes (in shares)		(82,000)
Shares withheld for employee taxes	(4,012)			(4,012)
Issuance of common stock upon exercise of stock options (in shares)		208,000
Issuance of common stock upon exercise of stock options	2,984	$ 2		2,982
Purchase of capped calls related to convertible senior notes	(36,570)			(36,570)
Repurchase and inducement of convertible senior notes	35,881			35,881
Issuance of common stock related to acquisition (in shares)		107,000
Issuance of common stock in relation to an acquisition	0	$ 1		(1)
Repurchase of common stock issued in relation to acquisition (in shares)			83,000
Repurchase of common stock in relation to acquisition	0		$ (1)	1
Reclassification of 2023 capped calls from equity to derivative asset	33,029			33,029
Other comprehensive gain (loss)	589				589
Net loss	$ (169,308)					(169,308)
Common stock, ending balance (in shares) at Sep. 30, 2023	61,422,358	61,422,000
Treasury stock, ending balance (in shares) at Sep. 30, 2023	569,579		570,000
Ending balance at Sep. 30, 2023	$ (161,645)	$ 614	$ (4,765)	873,381	(822)	(1,030,053)
Common stock, beginning balance (in shares) at Jun. 30, 2023		60,940,000
Beginning balance at Jun. 30, 2023	(111,022)	$ 609	$ (4,765)	846,326	250	(953,442)
Treasury stock, beginning balance (in shares) at Jun. 30, 2023			570,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	23,719			23,719
Issuance of common stock under employee stock purchase plan (in shares)		152,000
Issuance of common stock under employee stock purchase plan	5,149	$ 2		5,147
Vesting of restricted stock units (in shares)		338,000
Vesting of restricted stock units	0	$ 3		(3)
Shares withheld for employee taxes (in shares)		(29,000)
Shares withheld for employee taxes	(1,421)			(1,421)
Issuance of common stock upon exercise of stock options (in shares)		21,000
Issuance of common stock upon exercise of stock options	302			302
Purchase of capped calls related to convertible senior notes	(36,570)			(36,570)
Repurchase and inducement of convertible senior notes	35,881			35,881
Other comprehensive gain (loss)	(1,072)				(1,072)
Net loss	$ (76,611)					(76,611)
Common stock, ending balance (in shares) at Sep. 30, 2023	61,422,358	61,422,000
Treasury stock, ending balance (in shares) at Sep. 30, 2023	569,579		570,000
Ending balance at Sep. 30, 2023	$ (161,645)	$ 614	$ (4,765)	$ 873,381	$ (822)	$ (1,030,053)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Cash flows from operating activities:
Net loss	$ (169,308)	$ (113,332)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	34,528	30,587
Amortization of debt issuance costs	3,061	3,036
Stock-based compensation expense	84,836	92,304
Impairment of long-lived assets	30,784	0
Change in fair value of derivative assets	15,511	0
Induced conversion expense	53,889	0
Other	5,626	3,828
Changes in operating assets and liabilities:
Accounts receivable	12,428	21,425
Deferred contract acquisition and fulfillment costs	(9,488)	(7,999)
Prepaid expenses and other assets	5,433	(5,303)
Accounts payable	(1,255)	8,504
Accrued expenses	(17,968)	(12,241)
Deferred revenue	(6,367)	18,297
Other liabilities	(898)	(1,144)
Net cash provided by operating activities	40,812	37,962
Cash flows from investing activities:
Business acquisition, net of cash acquired	(34,841)	0
Purchases of property and equipment	(3,999)	(13,087)
Capitalization of internal-use software costs	(13,033)	(12,648)
Purchases of investments	(194,013)	(94,486)
Sales/maturities of investments	100,700	86,379
Other investments	0	(1,000)
Net cash used in investing activities	(145,186)	(34,842)
Cash flows from financing activities:
Proceeds from issuance of convertible senior notes, net of issuance costs paid of $7,200	292,800	0
Purchase of capped calls related to convertible senior notes	(36,570)	0
Payments of debt issuance costs	0	(71)
Payments for repurchase of convertible senior notes	(199,998)	(12)
Payments related to business acquisitions	(2,250)	(300)
Proceeds from capped call settlement	17,518	0
Taxes paid related to net share settlement of equity awards	(4,012)	(6,743)
Proceeds from employee stock purchase plan	11,323	11,943
Proceeds from stock option exercises	2,984	1,621
Net cash provided by financing activities	81,795	6,438
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(2,010)	(5,707)
Net (decrease) increase in cash, cash equivalents and restricted cash	(24,589)	3,851
Cash, cash equivalents and restricted cash, beginning of period	207,804	165,017
Cash, cash equivalents and restricted cash, end of period	183,215	168,868
Supplemental cash flow information:
Cash paid for interest on convertible senior notes	4,087	4,087
Cash paid for income taxes, net of refunds	1,165	1,503
Reconciliation of cash, cash equivalents and restricted cash:
Cash and cash equivalents	182,727	168,353
Restricted cash included in prepaid expenses and other assets	488	515
Total cash, cash equivalents and restricted cash	$ 183,215	$ 168,868

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows (Unaudited) (Parenthetical) $ in Thousands	9 Months Ended
	Sep. 30, 2023 USD ($)
Convertible Debt
Payments of debt issuance costs	$ 7,200

Description of Business, Basis

Description of Business, Basis of Presentation and Consolidation and Significant Accounting Policies	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Description of Business, Basis of Presentation and Consolidation and Significant Accounting Policies	Description of Business, Basis of Presentation and Consolidation and Significant Accounting Policies Description of Business Rapid7, Inc. and subsidiaries (“we,” “us” or “our”) are advancing security with visibility, analytics, and automation delivered through our Insight Platform. Our solutions simplify the complex, allowing security teams to work more effectively with IT and development to reduce vulnerabilities, monitor for malicious behavior, investigate and shut down attacks, and automate routine tasks. Basis of Presentation and Consolidation The accompanying unaudited consolidated financial statements have been prepared by us in accordance with accounting principles generally accepted in the United States of America (“GAAP”), as well as pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”), regarding interim financial reporting. Accordingly, certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. These consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes included in our Annual Report on Form 10-K for the year ended December 31, 2022 filed with the SEC on February 24, 2023. The consolidated financial statements include our results of operations and those of our wholly-owned subsidiaries and reflect all adjustments (consisting solely of normal, recurring adjustments) which are, in the opinion of management, necessary for a fair statement of results for the interim periods presented. All intercompany transactions and balances have been eliminated in consolidation. The results of operations for the three and nine months ended September 30, 2023 are not necessarily indicative of the results to be expected for any future period or the entire fiscal year. Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates, judgments and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. The management estimates include, but are not limited to the determination of standalone selling prices in revenue transactions with multiple performance obligations, the estimated period of benefit for deferred contract acquisition costs, the useful lives and recoverability of long-lived assets, the valuation for credit losses, the valuation of stock-based compensation, the fair value of assets acquired and liabilities assumed in business combinations, the incremental borrowing rate for operating leases and the valuation for deferred tax assets. We base our estimates on historical experience and on various other assumptions that we believe are reasonable. Actual results could differ from those estimates. Significant Accounting Policies Our significant accounting policies are described in Note 2, Summary of Significant Accounting Policies , to the consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2022. There have been no changes to the significant accounting policies, other than restructuring expense noted below, during the three and nine-month periods ended September 30, 2023. Restructuring Expense We record restructuring expense when management commits to and approves a restructuring plan, the restructuring plan identifies all significant actions, the period of time to complete the restructuring plan indicates that significant changes to the restructuring plan are not likely to occur, and employees who are impacted have been notified of the pending involuntary termination. A restructuring plan generally includes significant actions involving employee-related severance charges, employee-related benefits, and other charges associated with the restructuring (collectively, “restructuring expense”). Restructuring expense is recorded within restructuring in the condensed consolidated statement of operations. The restructuring liability accrued but not paid at the end of the reporting period is included within accrued expenses in the condensed consolidated balance sheet. Recent Accounting Pronouncements We have not identified any recently issued accounting pronouncements that would have a material impact to our consolidated financial statements.

Revenue from Contracts with Cus

Revenue from Contracts with Customers	9 Months Ended
Revenue from Contracts with Customers	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Revenue from Contracts with Customers	Revenue from Contracts with Customers We generate revenue primarily from: (1) subscriptions from the sale of cloud-based subscriptions, managed services, term software licenses, content subscriptions and maintenance and support associated with our software licenses and (2) professional services from the sale of our deployment and training services related to our solutions, incident response services, penetration testing and security advisory services. The following table summarizes revenue from contracts with customers for the three and nine months ended September 30, 2023 and 2022: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 (in thousands) Subscriptions $ 189,596 $ 165,687 $ 544,391 $ 470,925 Professional services 8,967 9,269 27,090 25,961 Other 280 809 958 3,718 Total revenue $ 198,843 $ 175,765 $ 572,439 $ 500,604 Subscriptions Subscriptions consists of revenue from our cloud-based subscription, managed services offerings, term software licenses, content subscriptions and maintenance and support associated with our software licenses. • We generate cloud-based subscription revenue primarily from sales of subscriptions to access our cloud platform, together with related support services to our customers. These arrangements do not provide the customer with the right to take possession of our software operating on our cloud platform at any time. Instead, customers are granted continuous access to our cloud platform over the contractual period. Revenue is recognized over time on a ratable basis over the contract term beginning on the date that our service is made available to the customer. Our cloud-based subscription contracts generally have annual or multi-year contractual terms which are billed in advance of the annual subscription period and are non-cancellable. • Managed services offerings consist of fees generated when we operate our software and provide our capabilities on behalf of our customers. Revenue is recognized on a ratable basis over the contract term beginning on the date that our service is made available to the customer. Our managed services offerings generally have annual or multi-year contractual terms which are billed in advance of the annual subscription period and are non-cancellable. • For our term software licenses where the utility to the customer is dependent on the continued delivery of content subscriptions, we recognize the license revenue over the contractual term of the content subscription. For our term software licenses which are not dependent on the continued delivery of content subscriptions, the license is considered distinct from the maintenance and support, and we therefore recognize revenue attributable to the license at the time of delivery. • Content subscriptions and our maintenance and support services are sold with our perpetual and term software licenses. Revenue related to our content subscriptions associated with our software licenses is recognized ratably over the contractual period. Maintenance and support services are distinct from the perpetual and term software license and revenue attributable to maintenance and support services is recognized ratably over the contractual period. Professional Services All of our professional services are considered distinct performance obligations when sold stand alone or with other products. These contracts generally have terms of one year or less. For the majority of these contracts, revenue is recognized over time based upon the proportion of work performed to date. Contract Balances Contract liabilities consist of deferred revenue and include payments received in advance of performance under the contract. Such amounts are recognized as revenue over the contractual period consistent with the above methodology. For the three months ended September 30, 2023 and 2022, we recognized revenu e of $174.3 million and $153.8 million, respectively, and for the nine months ended September 30, 2023 and 2022, we recognized $366.5 million a nd $308.3 million, respectively, that was included in the corresponding contract liability balance at the beginning of the periods presented. Deferred revenue that will be realized during the succeeding 12-month period is recorded as current, and the remaining deferred revenue is recorded as non-current. We receive payments from customers based upon contractual billing schedules. Accounts receivable are recorded when the right to consideration becomes unconditional. Unbilled receivables include amounts related to our contractual right to consideration for both completed and partially completed performance obligations that have not been invoiced. If the right to consideration is based on satisfaction of another performance obligation in the contract other than the passage of time, we record a contract asset. As of September 30, 2023 and December 31, 2022, unbilled receivables of $2.4 million and $1.1 million, respectively, are included in prepaid expenses and other current assets in our consolidated balance sheet. As of September 30, 2023 and December 31, 2022, we had no contract assets recorded on our consolidated balance sheet. Transaction price allocated to the remaining performance obligations The following table includes estimated revenue expected to be recognized in the future related to performance obligations that are unsatisfied or partially unsatisfied as of September 30, 2023. The estimated revenues do not include unexercised contract renewals. Next Twelve Months Thereafter (in thousands) Subscriptions $ 507,807 $ 234,563 Professional services 19,729 7,520 Other 1,255 428 Total $ 528,791 $ 242,511 The following table summarizes the activity of the deferred contract acquisition and fulfillment costs for the nine months ended September 30, 2023 and 2022: Nine Months Ended September 30, 2023 2022 (in thousands) Beginning balance $ 103,075 $ 87,165 Capitalization of contract acquisition and fulfillment costs 39,904 33,948 Amortization of deferred contract acquisition and fulfillment costs (30,416) (25,949) Ending balance $ 112,563 $ 95,164

Business Combinations

Business Combinations	9 Months Ended
Business Combinations	Sep. 30, 2023
Business Combination and Asset Acquisition [Abstract]
Business Combinations	Business Combinations On March 14, 2023, we acquired Minerva Labs Ltd. (“Minerva”), a leading provider of anti-evasion and ransomware prevention technology, for a purchase price with an aggregate fair value of $34.6 million. The purchase consideration consisted of $35.0 million paid in cash at closing and a $0.4 million receivable for purchase price adjustments. Additionally, we issued an aggregate of 73,846 shares of our common stock to the founders of Minerva with a fair value of $3.6 million. The 73,846 shares of common stock will be accounted for as stock-based compensation expense over a 24-month period as continued service is required for the founders to receive their full amount of common stock. In the three and nine months ended September 30, 2023, we recognized stock-based compensation expense related to such shares in the amount of $0.4 million and $1.0 million, respectively. The following table summarizes the preliminary allocation of purchase price to the estimated fair value of the assets acquired and liabilities assumed at the acquisition date (in thousands): Consideration Cash $ 34,977 Estimated purchase price receivable adjustment (365) Fair value of total consideration transferred $ 34,612 Recognized amount of identifiable assets acquired and liabilities assumed: Cash and cash equivalents $ 136 Other current assets 1,792 Other assets 43 Accounts payable and other current liabilities (438) Other long-term liabilities (395) Intangible asset 12,800 Total identifiable net assets assumed $ 13,938 Goodwill 20,674 Total purchase price allocation $ 34,612 These preliminary amounts are subject to subsequent adjustment as we obtain additional information to finalize certain components of working capital and deferred income taxes. We identified developed technology as the sole acquired intangible asset. The estimated fair value of the developed technology intangible asset was $12.8 million which was based on a valuation using the income approach. The estimated useful life of the developed technology is 8 years. The excess of the purchase price over the tangible assets acquired, the identifiable intangible asset acquired and assumed liabilities was recorded as goodwill. We believe that the amount of goodwill reflects the expected synergistic benefits of being able to leverage the integration of the technology acquired with our existing product offerings and being able to successfully market and sell these new features to our customer base. The goodwill was allocated to our one reporting unit. The acquired goodwill and intangible asset were not deductible for tax purposes. In the nine months ended September 30, 2023, we recorded $0.4 million of acquisition-related transaction costs related to the acquisition of Minerva to general and administrative expense. Our revenue and net loss attributable to the Minerva business for the three and nine months ended September 30, 2023 was not material. Pro forma results of operations have not been included, as the acquisition of Minerva was not material to our results of operations for any periods presented.

Investments

Investments	9 Months Ended
Investments	Sep. 30, 2023
Investments, Debt and Equity Securities [Abstract]
Investments	Investments Our investments, which are all classified as available-for-sale, consisted of the following: As of September 30, 2023 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (in thousands) Description: U.S. government agencies $ 185,587 $ — $ (265) $ 185,322 Corporate bonds 1,501 — (10) 1,491 Agency bonds 3,250 — (26) 3,224 Total $ 190,338 $ — $ (301) $ 190,037 As of December 31, 2022 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (in thousands) Description: U.S government agencies $ 66,234 $ 4 $ (545) $ 65,693 Corporate bonds 14,351 — (230) 14,121 Commercial paper 7,944 — — 7,944 Agency bonds 6,231 — (71) 6,160 Total $ 94,760 $ 4 $ (846) $ 93,918 As of September 30, 2023, our available-for-sale investments had maturities ranging from 1 to 18 months. As of December 31, 2022, our available-for-sale investments had maturities ranging from 2 to 19 months.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
Fair Value Measurements	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements We measure certain financial assets and liabilities at fair value. Fair value is determined based upon the exit price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants, as determined by either the principal market or the most advantageous market. Inputs used in the valuation techniques to derive fair values are classified based on a three-level hierarchy, as follows: Level 1 : Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2 : Observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which all significant inputs are observable or can be derived principally from or 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 significant to the fair value of the asset or liability. We consider an active market to be one in which transactions for the asset or liability occur with sufficient frequency and volume to provide pricing information on an ongoing basis, and we consider an inactive market to be one in which there are infrequent or few transactions for the asset or liability, the prices are not current, or price quotations vary substantially either over time or among market makers. The following table presents our financial assets and liabilities measured and recorded at fair value on a recurring basis using the above input categories: As of September 30, 2023 Level 1 Level 2 Level 3 Total (in thousands) Description: Assets: U.S. Government agencies $ 185,322 $ — $ — $ 185,322 Money market funds 65,592 — — 65,592 Agency bonds — 3,224 — 3,224 Corporate bonds — 1,491 — 1,491 Total $ 250,914 $ 4,715 $ — $ 255,629 Liabilities: Foreign currency forward contracts designated as cash flow hedges (other current liabilities and other liabilities) $ — $ 817 $ — $ 817 Total $ — $ 817 $ — $ 817 As of December 31, 2022 Level 1 Level 2 Level 3 Total (in thousands) Description: Assets: Money market funds $ 88,039 $ — $ — $ 88,039 U.S. Government agencies 65,693 — — 65,693 Corporate bonds — 14,121 — 14,121 Commercial paper — 7,944 — 7,944 Agency bonds — 6,160 — 6,160 Foreign currency forward contracts designated as cash flow hedges (prepaid expenses and other current assets) — 988 — 988 Total assets $ 153,732 $ 29,213 $ — $ 182,945 Liabilities: Foreign currency forward contracts designated as cash flow hedges (other current liabilities and other liabilities) $ — $ 1,559 $ — $ 1,559 Total liabilities $ — $ 1,559 $ — $ 1,559 As of September 30, 2023, the fair value of our 2.25%, 0.25% and 1.25% convertible senior notes due 2025, 2027 and 2029, as further described in Note 10, Debt

Property and Equipment

Property and Equipment	9 Months Ended
Property and Equipment	Sep. 30, 2023
Property, Plant and Equipment [Abstract]
Property and Equipment	Property and Equipment Property and equipment are recorded at cost and consist of the following: As of September 30, 2023 As of December 31, 2022 (in thousands) Computer equipment and software $ 26,103 $ 24,568 Furniture and fixtures 11,090 11,823 Leasehold improvements (1) 56,037 66,180 Total 93,230 102,571 Less accumulated depreciation (50,781) (44,680) Property and equipment, net $ 42,449 $ 57,891 (1) As of September 30, 2023, leasehold improvements with a net book value of $8.6 million were recorded as an impairment of long-lived assets related to certain idle office space at our corporate headquarters in Boston, Massachusetts and idle office space in Los Angeles, California, and Toronto, Canada. Refer to Note 11, Leases, for further details on the impairment of long-lived assets. Depreciation expense was $3.3 million and $3.5 million for the three months ended September 30, 2023 and 2022, respectively, and $10.9 million and $10.0 million for the nine months ended September 30, 2023 and 2022, respectively.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	9 Months Ended
Goodwill and Intangible Assets	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets Goodwill was $536.3 million and $515.6 million as of September 30, 2023 and December 31, 2022, respectively. The following table displays the changes in the gross carrying amount of goodwill: Amount (in thousands) Balance at December 31, 2022 $ 515,631 Minerva acquisition 20,674 Balance at September 30, 2023 $ 536,305 The following table presents details of our intangible assets, which include acquired identifiable intangible assets and capitalized internal-use software costs: As of September 30, 2023 As of December 31, 2022 Weighted- Gross Carrying Accumulated Net Book Value Gross Carrying Accumulated Net Book Value (in thousands) Intangible assets subject to amortization: Developed technology 5.4 $ 135,355 $ (72,638) $ 62,717 $ 122,555 $ (58,645) $ 63,910 Customer relationships 4.5 12,000 (7,102) 4,898 12,000 (5,146) 6,854 Trade names 3.1 2,619 (2,334) 285 2,619 (1,874) 745 Total acquired intangible assets 149,974 (82,074) 67,900 137,174 (65,665) 71,509 Internal-use software 3.0 52,525 (20,432) 32,093 43,002 (13,242) 29,760 Total intangible assets $ 202,499 $ (102,506) $ 99,993 $ 180,176 $ (78,907) $ 101,269 Amortization expense was $8.3 million and $6.7 million for the three months ended September 30, 2023 and 2022, respectively and $23.6 million and $20.6 million for the nine months ended September 30, 2023 and 2022, respectively. Estimated future amortization expense of the acquired identifiable intangible assets and completed capitalized internal-use software costs as of September 30, 2023 was as follows (in thousands): 2023 (for the remaining three months) $ 7,777 2024 28,913 2025 24,940 2026 15,903 2027 6,806 2028 and thereafter 5,131 Total $ 89,470

Deferred Contract Acquisition a

Deferred Contract Acquisition and Fulfillment Costs	9 Months Ended
Deferred Contract Acquisition and Fulfillment Costs	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Deferred Contract Acquisition and Fulfillment Costs	Revenue from Contracts with Customers We generate revenue primarily from: (1) subscriptions from the sale of cloud-based subscriptions, managed services, term software licenses, content subscriptions and maintenance and support associated with our software licenses and (2) professional services from the sale of our deployment and training services related to our solutions, incident response services, penetration testing and security advisory services. The following table summarizes revenue from contracts with customers for the three and nine months ended September 30, 2023 and 2022: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 (in thousands) Subscriptions $ 189,596 $ 165,687 $ 544,391 $ 470,925 Professional services 8,967 9,269 27,090 25,961 Other 280 809 958 3,718 Total revenue $ 198,843 $ 175,765 $ 572,439 $ 500,604 Subscriptions Subscriptions consists of revenue from our cloud-based subscription, managed services offerings, term software licenses, content subscriptions and maintenance and support associated with our software licenses. • We generate cloud-based subscription revenue primarily from sales of subscriptions to access our cloud platform, together with related support services to our customers. These arrangements do not provide the customer with the right to take possession of our software operating on our cloud platform at any time. Instead, customers are granted continuous access to our cloud platform over the contractual period. Revenue is recognized over time on a ratable basis over the contract term beginning on the date that our service is made available to the customer. Our cloud-based subscription contracts generally have annual or multi-year contractual terms which are billed in advance of the annual subscription period and are non-cancellable. • Managed services offerings consist of fees generated when we operate our software and provide our capabilities on behalf of our customers. Revenue is recognized on a ratable basis over the contract term beginning on the date that our service is made available to the customer. Our managed services offerings generally have annual or multi-year contractual terms which are billed in advance of the annual subscription period and are non-cancellable. • For our term software licenses where the utility to the customer is dependent on the continued delivery of content subscriptions, we recognize the license revenue over the contractual term of the content subscription. For our term software licenses which are not dependent on the continued delivery of content subscriptions, the license is considered distinct from the maintenance and support, and we therefore recognize revenue attributable to the license at the time of delivery. • Content subscriptions and our maintenance and support services are sold with our perpetual and term software licenses. Revenue related to our content subscriptions associated with our software licenses is recognized ratably over the contractual period. Maintenance and support services are distinct from the perpetual and term software license and revenue attributable to maintenance and support services is recognized ratably over the contractual period. Professional Services All of our professional services are considered distinct performance obligations when sold stand alone or with other products. These contracts generally have terms of one year or less. For the majority of these contracts, revenue is recognized over time based upon the proportion of work performed to date. Contract Balances Contract liabilities consist of deferred revenue and include payments received in advance of performance under the contract. Such amounts are recognized as revenue over the contractual period consistent with the above methodology. For the three months ended September 30, 2023 and 2022, we recognized revenu e of $174.3 million and $153.8 million, respectively, and for the nine months ended September 30, 2023 and 2022, we recognized $366.5 million a nd $308.3 million, respectively, that was included in the corresponding contract liability balance at the beginning of the periods presented. Deferred revenue that will be realized during the succeeding 12-month period is recorded as current, and the remaining deferred revenue is recorded as non-current. We receive payments from customers based upon contractual billing schedules. Accounts receivable are recorded when the right to consideration becomes unconditional. Unbilled receivables include amounts related to our contractual right to consideration for both completed and partially completed performance obligations that have not been invoiced. If the right to consideration is based on satisfaction of another performance obligation in the contract other than the passage of time, we record a contract asset. As of September 30, 2023 and December 31, 2022, unbilled receivables of $2.4 million and $1.1 million, respectively, are included in prepaid expenses and other current assets in our consolidated balance sheet. As of September 30, 2023 and December 31, 2022, we had no contract assets recorded on our consolidated balance sheet. Transaction price allocated to the remaining performance obligations The following table includes estimated revenue expected to be recognized in the future related to performance obligations that are unsatisfied or partially unsatisfied as of September 30, 2023. The estimated revenues do not include unexercised contract renewals. Next Twelve Months Thereafter (in thousands) Subscriptions $ 507,807 $ 234,563 Professional services 19,729 7,520 Other 1,255 428 Total $ 528,791 $ 242,511 The following table summarizes the activity of the deferred contract acquisition and fulfillment costs for the nine months ended September 30, 2023 and 2022: Nine Months Ended September 30, 2023 2022 (in thousands) Beginning balance $ 103,075 $ 87,165 Capitalization of contract acquisition and fulfillment costs 39,904 33,948 Amortization of deferred contract acquisition and fulfillment costs (30,416) (25,949) Ending balance $ 112,563 $ 95,164

Derivative and Hedging Activiti

Derivative and Hedging Activities	9 Months Ended
Derivative and Hedging Activities	Sep. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives and Hedging Activities	Derivatives and Hedging Activities To mitigate our exposure to foreign currency fluctuations resulting from certain expenses denominated in certain foreign currencies, we enter into forward contracts that are designated as cash flow hedging instruments. These forward contracts have contractual maturities of nineteen months or less, and as of September 30, 2023 and December 31, 2022, outstanding forward contracts had a total notional value of $50.3 million and $44.9 million, respectively. The notional value represents the gross amount of foreign currency that will be bought or sold upon maturity of the forward contract. During the three and nine months ended September 30, 2023, all cash flow hedges were considered effective. Refer to Note 5, Fair Value Measurements , for the fair values of our outstanding derivative instruments.

Debt

Debt	9 Months Ended
Debt	Sep. 30, 2023
Debt Disclosure [Abstract]
Debt	Debt Convertible Senior Notes In May 2020, we issued $230.0 million aggregate principal amount of convertible senior notes due May 1, 2025 (the “2025 Notes”), in March 2021, we issued $600.0 million aggregate principal amount of convertible senior notes due March 15, 2027 (the “2027 Notes”) and in September 2023, we issued $300.0 million aggregate principal amount of convertible senior notes due March 15, 2029 (the “2029 Notes”) (collectively, the “Notes”). Further details of the Notes are as follows: Issuance Maturity Date Interest Rate First Interest Payment Date Effective Interest Rate Semi-Annual Interest Payment Dates Initial Conversion Rate per $1,000 Principal Initial Conversion Price Number of Shares (in millions) 2025 Notes May 1, 2025 2.25 % November 1, 2020 2.88 % May 1 and November 1 16.3875 $ 61.02 0.8 2027 Notes March 15, 2027 0.25 % September 15, 2021 0.67 % March 15 and September 15 9.6734 $ 103.38 5.8 2029 Notes March 15, 2029 1.25 % March 15, 2024 1.69 % March 15 and September 15 15.4213 $ 64.85 4.6 The 2025 Notes, the 2027 Notes and the 2029 Notes are senior unsecured obligations, do not contain any financial covenants and are governed by indentures between the Company, as issuer, and U.S. Trust Company, Bank National Association, as trustee (the “Indentures”). The total net proceeds from the 2025 Notes, the 2027 Notes and the 2029 Notes offerings, after deducting initial purchase discounts and estimated debt issuance costs, were $222.8 million, $585.0 million and $292.0 million, respectively. Terms of the Notes The holders of the Notes may convert their respective Notes at their option at any time prior to the close of business on the business day immediately preceding their respective convertible dates only under the following circumstances: • during any calendar quarter commencing after the calendar quarter ending on September 30, 2020 for the 2025 Notes, March 20, 2024 for the 2027 Notes and September 21, 2026 for the 2029 Notes (and only during such calendar quarter), if the last reported sale price of our 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 of the respective Notes on each applicable trading day; • during the five business day period after any five consecutive trading day period for the 2025 Notes and any ten consecutive trading day period for the 2027 Notes and the 2029 Notes (the “measurement periods”) in which the trading price (as defined in the Indentures) per $1,000 principal amount of the applicable series of Notes for each trading day of the measurement period was less than 98% of the product of the last reported sale price of our common stock and the conversion rate of the respective Notes on each such trading day; • if we call any or all of the respective Notes for redemption, at any time prior to the close of business on the scheduled trading day immediately preceding the respective redemption date; or • upon the occurrence of specified corporate events (as set forth in the Indentures). As of September 30, 2023, the 2025 Notes, the 2027 Notes and the 2029 Notes were not convertible at the option of the holder. The holders may convert the 2025 Notes, the 2027 Notes and the 2029 Notes at any time on or after November 1, 2024, December 15, 2026 and December 15, 2028, respectively, until the close of business on the second scheduled trading day immediately preceding the maturity date, regardless of the circumstances set forth above. Upon conversion, we will pay or deliver, as the case may be, cash, shares of our common stock or a combination of cash and shares of our common stock, at our election, in the manner and subject to the terms and conditions provided in the Indentures. If we undergo a fundamental change (as set forth in the Indentures) at any time prior to the maturity date, holders of the Notes will have the right, at their option, to require us to repurchase for cash all or any portion of their Notes at a repurchase price equal to 100% of the principal amount of the Notes to be repurchased, plus accrued and unpaid interest to, but excluding, the fundamental change repurchase date. In addition, following certain corporate events that occur prior to the maturity date or following our issuance of a notice of redemption, in each case as described in the Indentures, we will increase the conversion rate for a holder of the Notes who elects to convert its Notes in connection with such a corporate event or during the related redemption period in certain circumstances. The 2025 Notes, the 2027 Notes and the 2029 Notes are redeemable after May 6, 2023, March 20, 2024 and September 21, 2026 (the “Redemption Dates”), respectively. On or after the respective Redemption Dates, we may redeem for cash all or any portion of the 2025 Notes, the 2027 Notes or the 2029 Notes, at our option, if the last reported sale price of our 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 we provide the redemption notice at a redemption price equal to 100% principal amount of the 2025 Notes, the 2027 Notes or the 2029 Notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. Partial Repurchase and Conversion of the 2025 Notes In September 2023, we used $201.0 million of the proceeds from the issuance of the 2029 Notes to repurchase and retire $184.0 million aggregate principal amount of the 2025 Notes and paid accrued and unpaid interest thereon. As a result of the induced conversion, we recorded $53.9 million in non-cash induced conversion expense which is included in interest expense in our consolidated statement of operations. The induced conversion expense represents the fair value of the consideration issued upon conversion in excess of the fair value of the securities issuable under the original terms of the 2025 Notes. Accounting for the Notes In accounting for the issuance of the Notes, the principal less debt issuance costs are recorded as debt on our consolidated balance sheet. The debt issuance costs are amortized to interest expense using the effective interest method over the contractual term of the Notes. The net carrying amount of the Notes as of September 30, 2023 and December 31, 2022 was as follows (in thousands): 2025 Notes 2027 Notes 2029 Notes Principal Unamortized debt issuance costs Total Principal Unamortized debt issuance costs Total Principal Unamortized debt issuance costs Total Balance at December 31, 2022 $ 229,992 $ (3,480) $ 226,512 $ 600,000 $ (10,564) $ 589,436 $ — $ — $ — Issuance — — — — — — 300,000 (7,984) $ 292,016 Partial repurchase (184,000) 2,010 (181,990) — — — — — Amortization of debt issuance costs — 990 990 — 1,855 1,855 — 73 73 Balance at September 30, 2023 $ 45,992 $ (480) $ 45,512 $ 600,000 $ (8,709) $ 591,291 $ 300,000 $ (7,911) $ 292,089 Interest expense related to the Notes was as follows (in thousands): Three Months Ended September 30, 2023 2022 2025 Notes 2027 Notes 2029 Notes Total 2025 Notes 2027 Notes Total Contractual interest expense $ 948 $ 375 $ 229 $ 1,552 $ 1,292 $ 377 $ 1,669 Amortization of debt issuance costs 289 631 73 993 371 626 997 Total interest expense $ 1,237 $ 1,006 $ 302 $ 2,545 $ 1,663 $ 1,003 $ 2,666 Nine Months Ended September 30, 2023 2022 2025 Notes 2027 Notes 2029 Notes Total 2025 Notes 2027 Notes Total Contractual interest expense $ 3,536 $ 1,125 $ 229 $ 4,890 $ 3,880 $ 1,127 $ 5,007 Amortization of debt issuance costs 990 1,855 73 2,918 1,052 1,840 2,892 Total interest expense $ 4,526 $ 2,980 $ 302 $ 7,808 $ 4,932 $ 2,967 $ 7,899 Capped Calls In connection with the offering of the 1.25% convertible senior notes due 2023 (the “2023 Notes”), the 2025 Notes, the 2027 Notes and the 2029 Notes, we entered into privately negotiated capped call transactions with certain counterparties (the “2023 Capped Calls, “2025 Capped Calls”, “2027 Capped Calls” and “2029 Capped Calls”) (collectively, the “Capped Calls”). The Capped Calls are expected to reduce potential dilution to our common stock upon conversion of a given series of notes and/or offset any cash payments that we are required to make in excess of the principal amount of converted notes of such series, as the case may be, with such reduction and/or offset subject to a cap. The Capped Calls are subject to adjustment upon the occurrence of certain specified extraordinary events affecting us, including merger events, tender offers and announcement events. In addition, the Capped Calls are subject to certain specified additional disruption events that may give rise to a termination of the Capped Calls, including nationalization, insolvency or delisting, changes in law, failures to deliver, insolvency filings and hedging disruptions. The following table sets forth other key terms and premiums paid for the Capped Calls related to each series of Notes: Capped Calls Entered into in Connection with the Issuance of the 2023 Notes Capped Calls Entered into in Connection with the Issuance of the 2025 Notes Capped Calls Entered into in Connection with the Issuance of the 2027 Notes Capped Calls Entered into in Connection with the Issuance of the 2029 Notes Initial strike price, subject to certain adjustments $ 41.59 $ 61.02 $ 103.38 $ 64.85 Cap price, subject to certain adjustments $ 63.98 $ 93.88 $ 159.04 $ 97.88 Total premium paid (in thousands) $ 26,910 $ 27,255 $ 76,020 $ 36,570 Expiration dates June 2, 2023 - August 1, 2023 March 4, 2025 - April 29, 2025 January 1, 2027 - March 11, 2027 February 13, 2029 - March 13, 2029 For accounting purposes, the 2023 Capped Calls, the 2025 Capped Calls, the 2027 Capped Calls and the 2029 Capped Calls are separate transactions, and not part of the terms of the 2023 Notes, the 2025 Notes, the 2027 Notes and the 2029 Notes. The 2023 Notes, 2025 Capped Calls, 2027 Capped Calls and 2029 Capped Calls are recorded in stockholders' equity and are not accounted for as derivatives. The 2025 Capped Calls were not redeemed with the partial repurchase of the 2025 Notes and remain outstanding. The 2023 Capped Calls were not redeemed with the repayment of the 2023 Notes in 2021. In accordance with the terms of the Capped Calls agreements, we elected to cash-settle the 2023 Capped Calls via written notice provided to the counterparties on May 31, 2023 (the “Notice Date”). The 2023 Capped Calls were settled over a 40-day trading period from June 2, 2023 to August 1, 2023, with a settlement date of August 3, 2023. Since cash settlement was elected, pursuant to ASC 815, the 2023 Capped Calls were deemed to meet the definition of a derivative instrument, requiring reclassification from stockholder's equity to a derivative asset at the fair value on the Notice Date, with subsequent changes in fair value to be recorded to earnings through the settlement date. The fair value on the Notice Date of $33.0 million was reclassified from stockholders' equity (additional paid-in capital) to derivative assets. The change in fair value of the derivative asset from the Notice Date to September 30, 2023 was $15.5 million and recorded to other income (expense) on our consolidated statement of operations. On August 3, 2023, we received $17.5 million in cash from the settlement of the 2023 Capped Calls. Credit Agreement In April 2020, we entered into a Credit and Security Agreement (the “Credit Agreement”), with KeyBank National Association that provides for a $30.0 million revolving credit facility, with a letter of credit sublimit of $15.0 million and an accordion feature under which we could increase the credit facility to up to $70.0 million. In May 2020, we utilized the accordion feature to increase the credit facility to $50.0 million. In December 2021, we entered into an amendment (the “Amendment”) in respect of our Credit and Security Agreement (as amended by the Amendment, the “Credit Agreement”), with KeyBank National Association, to, among other things, increase the credit facility from $50.0 million to $100.0 million and extend the maturity date to December 22, 2024. The Credit Agreement provides for a $100.0 million revolving credit facility, with a letter of credit sublimit of $15.0 million, and an accordion feature under which we can increase the credit facility to up to $150.0 million. We incurred fees of $0.4 million in connection with entering into the Credit Agreement. The fees are recorded in other current assets on the consolidated balance sheet and are amortized on a straight-line basis over the contractual term of the arrangement. The commitment fee of 0.2% per annum on the unused portion of the credit facility is expensed as incurred and included within interest expense on the consolidated statement of operations. The Credit Agreement contains certain financial covenants including a requirement that we maintain specified minimum recurring revenue and liquidity amounts. The borrowings under the Credit Agreement bear interest, at our option, at a rate equal to either (i) term SOFR plus a credit spread adjustment of 0.10% per annum plus a margin of 2.50% per annum or (ii) the alternate base rate (subject to a floor), plus an applicable margin equal to 0% per annum. As of September 30, 2023, we did not have any outstanding borrowings and we were in compliance with all covenants under the Credit Agreement.

Leases

Leases	9 Months Ended
Leases	Sep. 30, 2023
Leases [Abstract]
Leases	Leases Our leases primarily relate to office facilities that have remaining terms of up to 8.5 years, some of which include one or more options to renew with renewal terms of up to 5 years and some of which include options to terminate the leases within 4 years. All of our leases are classified as operating leases. The components of lease expense were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 (in thousands) Operating lease cost $ 3,799 $ 4,997 $ 12,716 $ 15,240 Short-term lease costs 322 461 959 1,315 Variable lease costs 1,681 2,184 6,141 6,716 Total lease costs $ 5,802 $ 7,642 $ 19,816 $ 23,271 Supplemental balance sheet information related to the operating leases was as follows: As of September 30, 2023 As of December 31, 2022 Weighted average remaining lease term (in years) - operating leases 6.0 6.6 Weighted average discount rate - operating leases 6.3 % 6.2 % Supplemental cash flow information related to leases was as follows: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 (in thousands) Cash paid for amounts included in the measurement of lease liabilities $ 4,897 $ 3,057 $ 16,444 $ 11,093 ROU assets obtained in exchange for new lease obligations $ 620 $ 3,811 $ 4,457 $ 12,675 Maturities of operating lease liabilities as of September 30, 2023 were as follows (in thousands): 2023 (for the remaining three months) $ 3,469 2024 19,995 2025 18,851 2026 17,494 2027 16,699 2028 and thereafter 36,262 Total lease payments $ 112,770 Less: imputed interest (19,233) Total $ 93,537

Stock-Based Compensation Expens

Stock-Based Compensation Expense	9 Months Ended
Stock-Based Compensation Expense	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation Expense	Stock-Based Compensation Expense (a) General Stock-based compensation expense for restricted stock units (“RSUs”), performance-based restricted stock units (“PSUs”), stock options and issuances of common stock pursuant to our employee stock purchase plan was classified in the accompanying consolidated statements of operations as follows: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 (in thousands) Stock-based compensation expense: Cost of revenue $ 2,527 $ 2,745 $ 8,348 $ 7,610 Research and development 8,436 13,400 30,575 40,349 Sales and marketing 7,106 8,047 23,087 23,251 General and administrative 5,699 6,779 22,826 21,094 Total stock-based compensation expense $ 23,768 $ 30,971 $ 84,836 $ 92,304 We recognize compensation cost of all awards on a straight-line basis over the applicable vesting period, which is generally four years. Our Compensation Committee adopted and approved the performance goals, targets and payout formulas for our 2023 and 2022 bonus plans, including permitting our executive officers and certain other employees the opportunity to receive payment of their earned bonuses in the form of common stock (in lieu of cash). During the three months ended September 30, 2023 and 2022, we recognized stock-based compensation expense related to such bonuses in the amount of $50 thousand and $(0.8) million, respectively, and during the nine months ended based September 30, 2023 and 2022, we recognized stock-based compensation expense related to such bonuses in the amount of $1.1 million and $0.8 million, respectively, on the probable expected performance against the pre-established corporate financial objectives as of September 30, 2023 and 2022. For employees, including executive officers, who elect to receive their bonuses in the form of common stock (in lieu of cash), the payouts are expected to be made in the form of fully vested stock awards in the first quarter of the following year pursuant to our 2015 Equity Incentive Plan, as amended. The number of shares underlying such awards is determined by dividing the dollar value of the actual bonus award payment by the closing price per share of our common stock on the date of grant. (b) Restricted Stock Units and Performance-Based Restricted Stock Units RSUs and PSUs activity during the nine months ended September 30, 2023 was as follows: Shares Weighted-Average Unvested balance as of December 31, 2022 3,001,443 $ 83.88 Granted 2,232,289 41.54 Vested (1,139,340) 72.49 Forfeited (967,575) 67.85 Unvested balance as of September 30, 2023 3,126,817 $ 62.79 As of September 30, 2023, the unrecognized compensation expense related to our unvested RSUs and PSUs was $265.8 million. This unrecognized compensation expense will be recognized over an estimated weighted-average amortization period of 2.3 years. In February 2023, our Compensation Committee awarded 173,103 PSUs that require the achievement of an ARR target for the 2023 full-year to earn any payout and include a non-GAAP operating income margin modifier. In addition, the portion of the PSUs that are earned will be capped at a maximum of 200% of the target level payout and if certain ARR or non-GAAP operating income margin goals are not met, no PSUs will be earned. The PSUs have a performance period of one year and the earned PSUs will vest in three equal installments following each of the first, second and third anniversary of the vesting commencement date, subject to the participant’s continuous service as of each such date. Stock-based compensation expense related to these PSUs will be adjusted over the one-year performance period based on interim estimates of performance against the identified targets. (c) Stock Options Stock option activity during the nine months ended September 30, 2023 was as follows: Shares Weighted Weighted Aggregate Outstanding as of December 31, 2022 932,126 $ 12.70 3.2 $ 19,837 Granted — — Exercised (208,494) 14.31 $ 6,204 Forfeited/cancelled — — Outstanding as of September 30, 2023 723,632 $ 12.23 2.4 $ 24,276 Vested and exercisable as of September 30, 2023 723,632 $ 12.23 2.4 $ 24,276 (d) Employee Stock Purchase Plan Under the Rapid7, Inc. 2015 Employee Stock Purchase Plan (“ESPP”), employees may set aside up to 15% of their gross earnings, on an after-tax basis, to purchase our common stock at a discounted price, which is calculated at 85% of the lesser of: (i) the market value of our common stock at the beginning of each offering period and (ii) the market value of our common stock on the applicable purchase date. On March 15, 2023, we issued 177,886 shares of common stock to employees, with a purchase price of $34.71 per share, for aggregate proceeds of $6.2 million. On September 15, 2023, we issued 152,419 shares of common stock to employees, with a purchase price of $33.78 per share, for aggregate proceeds of $5.1 million.

Net Loss per Share

Net Loss per Share	9 Months Ended
Net Loss per Share	Sep. 30, 2023
Earnings Per Share [Abstract]
Net Loss per Share	Net Loss per Share The following table summarizes the computation of basic and diluted net loss per share of our common stock for the three and nine months ended September 30, 2023 and 2022: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 (in thousands, except share and per share data) Numerator: Net loss $ (76,611) $ (28,727) $ (169,308) $ (113,332) Denominator: Weighted-average common shares outstanding, basic and diluted 61,065,157 58,730,651 60,506,082 58,229,872 Net loss per share, basic and diluted $ (1.25) $ (0.49) $ (2.80) $ (1.95) We intend to settle any conversion of our 2025 Notes, 2027 Notes and 2029 Notes in cash, shares, or a combination thereof. The dilutive impact of the Notes for our calculation of diluted net income (loss) per share is considered using the if-converted method. For the three and nine months ended September 30, 2023 and 2022, the shares underlying the Notes were not considered in the calculation of diluted net loss per share as the effect would have been anti-dilutive. In connection with the issuance of the 2023 Notes, the 2025 Notes, the 2027 Notes and the 2029 Notes, we entered into 2023 Capped Calls, 2025 Capped Calls, 2027 Capped Calls and 2029 Capped Calls, which were not included for the purpose of calculating the number of diluted shares outstanding, as their effect would have been anti-dilutive. As further described in Note 10, Debt, the 2023 Capped Calls were not redeemed with the redemption of the 2023 Notes. The 2025 Capped Calls were not redeemed with the partial repurchase of the 2025 Notes and remain outstanding. As of September 30, 2023 and 2022, the 2025 Notes, the 2027 Notes and the 2029 Notes were not convertible at the option of the holder. We had not received any conversion notices through the issuance date of our unaudited consolidated financial statements. For disclosure purposes, we have calculated the potentially dilutive effect of the conversion spread, which is included in the table below. The following potentially dilutive securities outstanding have been excluded from the computation of diluted weighted-average shares outstanding for the respective periods below because they would have been anti-dilutive: Three and Nine Months Ended September 30, 2023 2022 Options to purchase common stock 723,632 1,218,790 Unvested restricted stock units 3,126,817 3,279,901 Common stock issued in conjunction with acquisitions 115,041 240,041 Shares to be issued under ESPP 20,802 30,501 Convertible senior notes 11,183,611 9,572,955 Total 15,169,903 14,342,188

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies (a) Warranty We provide limited product warranties. Historically, any payments made under these provisions have been immaterial. (b) Litigation and Claims From time to time, we may be a party to litigation or subject to claims incident to the ordinary course of business. Although the results of litigation and claims cannot be predicted with certainty, we currently believe that the final outcome of these ordinary course matters will not have a material adverse effect on our business. Regardless of the outcome, litigation can have an adverse impact on us because of defense and settlement costs, diversion of management resources and other factors. (c) Indemnification Obligations We agree to standard indemnification provisions in the ordinary course of business. Pursuant to these provisions, we agree to indemnify, hold harmless and reimburse the indemnified party for losses suffered or incurred by the indemnified party, generally our customers, in connection with any United States patent, copyright or other intellectual property infringement claim by any third party arising from the use of our products or services in accordance with the agreement or arising from our gross negligence, willful misconduct or violation of the law (provided that there is not gross or willful misconduct on the part of the other party) with respect to our products or services. The term of these indemnification provisions is generally perpetual from the time of execution of the agreement. We carry insurance that covers certain third-party claims relating to our services and limits our exposure. We have never incurred costs to defend lawsuits or settle claims related to these indemnification provisions. As permitted under Delaware law, we have entered into indemnification agreements with our officers and directors, indemnifying them for certain events or occurrences while they serve as officers or directors of the company.

Segment Information and Informa

Segment Information and Information about Geographic Areas	9 Months Ended
Segment Information and Information about Geographic Areas	Sep. 30, 2023
Segment Reporting [Abstract]
Segment Information and Information about Geographic Areas	Segment Information and Information about Geographic Areas We operate in one segment. Our chief operating decision maker is our Chief Executive Officer, who makes operating decisions, assesses performance and allocates resources on a consolidated basis. Net revenues by geographic area presented based upon the location of the customer were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 (in thousands) United States $ 147,929 $ 131,628 $ 427,629 $ 376,752 Other 50,914 44,137 144,810 123,852 Total $ 198,843 $ 175,765 $ 572,439 $ 500,604 Property and equipment, net by geographic area was as follows: As of September 30, 2023 As of December 31, 2022 (in thousands) United States $ 29,709 $ 41,570 Other 12,740 16,321 Total $ 42,449 $ 57,891

Restructuring

Restructuring	9 Months Ended
Restructuring	Sep. 30, 2023
Restructuring and Related Activities [Abstract]
Restructuring	Restructuring On August 7, 2023, our board of directors approved a restructuring plan that was designed to improve operational efficiencies, reduce operating costs and better align the Company’s workforce with current business needs, top strategic priorities and key growth opportunities (collectively, the “Restructuring Plan”). The Restructuring Plan included a reduction of the Company’s workforce by approximately 17%. During the three months ended September 30, 2023, we incurred $20.0 million of restructuring charges which were recorded within restructuring in the condensed consolidated statements of operations. In addition, we incurred $1.2 million of stock-based compensation expense related to acceleration of share-based awards. As of September 30, 2023, the restructuring liability accrued but not paid totaled $4.7 million, which is included within accrued expenses in the condensed consolidated balance sheets. We expect the remainder of the restructuring charges of approximately $3.5 million to be incurred in the fourth quarter of 2023 and the execution of the Restructuring Plan to be substantially complete by the end of the fourth quarter of 2023. Potential position eliminations in each country are subject to local law and consultation requirements, which may extend this process beyond the fourth quarter of 2023 in certain countries. The charges that we expect to incur are subject to a number of assumptions, including local law requirements in various jurisdictions, and actual expenses may differ materially from the estimates disclosed above. We permanently closed certain idle office spaces in Plano, Texas, Los Angeles, California and Toronto, Canada, which resulted in an impairment loss in the three months ended September 30, 2023 of $3.6 million. Refer to Note 11, Leases, for further details on the impairment of long-lived assets. The following table presents the activity of the restructuring liability for the three months ended September 30, 2023: Restructuring Liability (in thousands) Balance at December 31, 2022 $ — Charges 19,996 Payments (15,318) Balance at September 30, 2023 $ 4,678

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Pay vs Performance Disclosure
Net loss	$ (76,611)	$ (28,727)	$ (169,308)	$ (113,332)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	9 Months Ended
Insider Trading Arrangements	Sep. 30, 2023 shares	Sep. 30, 2023 shares
Trading Arrangements, by Individual
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Andrew Burton [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		During the three months ended September 30, 2023, one of our executive officers, as set forth below, adopted or terminated a contract, instruction or written plan for the purchase or sale of Rapid7 securities that was intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). Name and Position Action Adoption or Transaction Date Type of Trading Arrangement Number of Shares of Common Stock to be Sold Expiration Date Andrew Burton, Chief Operating Officer Adoption August 15, 2023 Rule 10b5-1* 51,125 5/1/2024* * Contract, instruction or written plan intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Exchange Act. Represents the maximum number of shares that may be sold pursuant to the Rule 10b5-1 trading arrangement in amounts and prices determined in accordance with a formula set forth in the plan. The actual number of shares sold will be dependent on the satisfaction of certain conditions as set forth in the written plan. * The Rule 10b5-1 trading arrangement will terminate on the earlier of the date all the shares under the plan are sold and the expiration date indicated, subject to early termination for specified events set forth in the plan.
Name	Andrew Burton
Title	Chief Operating Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	August 15, 2023
Arrangement Duration	260 days
Aggregate Available	51,125	51,125

Description of Business, Basi_2

Description of Business, Basis of Presentation and Consolidation and Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Basis of Presentation and Consolidation	Basis of Presentation and Consolidation The accompanying unaudited consolidated financial statements have been prepared by us in accordance with accounting principles generally accepted in the United States of America (“GAAP”), as well as pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”), regarding interim financial reporting. Accordingly, certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. These consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes included in our Annual Report on Form 10-K for the year ended December 31, 2022 filed with the SEC on February 24, 2023. The consolidated financial statements include our results of operations and those of our wholly-owned subsidiaries and reflect all adjustments (consisting solely of normal, recurring adjustments) which are, in the opinion of management, necessary for a fair statement of results for the interim periods presented. All intercompany transactions and balances have been eliminated in consolidation. The results of operations for the three and nine months ended September 30, 2023 are not necessarily indicative of the results to be expected for any future period or the entire fiscal year.
Use of Estimates	Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates, judgments and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes.
Restructuring Expense	Restructuring Expense We record restructuring expense when management commits to and approves a restructuring plan, the restructuring plan identifies all significant actions, the period of time to complete the restructuring plan indicates that significant changes to the restructuring plan are not likely to occur, and employees who are impacted have been notified of the pending involuntary termination. A restructuring plan generally includes significant actions involving employee-related severance charges, employee-related benefits, and other charges associated with the restructuring (collectively, “restructuring expense”). Restructuring expense is recorded within restructuring in the condensed consolidated statement of operations. The restructuring liability accrued but not paid at the end of the reporting period is included within accrued expenses in the condensed consolidated balance sheet.
Recent Accounting Pronouncements	Recent Accounting Pronouncements We have not identified any recently issued accounting pronouncements that would have a material impact to our consolidated financial statements.
Revenue	Revenue from Contracts with Customers We generate revenue primarily from: (1) subscriptions from the sale of cloud-based subscriptions, managed services, term software licenses, content subscriptions and maintenance and support associated with our software licenses and (2) professional services from the sale of our deployment and training services related to our solutions, incident response services, penetration testing and security advisory services.

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	9 Months Ended
Revenue from Contracts with Customers (Tables)	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Summary of Revenue from Contracts with Customers and Revenue by Region	The following table summarizes revenue from contracts with customers for the three and nine months ended September 30, 2023 and 2022: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 (in thousands) Subscriptions $ 189,596 $ 165,687 $ 544,391 $ 470,925 Professional services 8,967 9,269 27,090 25,961 Other 280 809 958 3,718 Total revenue $ 198,843 $ 175,765 $ 572,439 $ 500,604
Summary of Estimated Revenue Expected to be Recognized in Future Related to Performance Obligations	The following table includes estimated revenue expected to be recognized in the future related to performance obligations that are unsatisfied or partially unsatisfied as of September 30, 2023. The estimated revenues do not include unexercised contract renewals. Next Twelve Months Thereafter (in thousands) Subscriptions $ 507,807 $ 234,563 Professional services 19,729 7,520 Other 1,255 428 Total $ 528,791 $ 242,511

Business Combinations (Tables)

Business Combinations (Tables)	9 Months Ended
Business Combinations (Tables)	Sep. 30, 2023
Business Combination and Asset Acquisition [Abstract]
Summary of Allocation of Purchase Price to Estimated Fair Value of Assets Acquired and Liabilities Assumed	The following table summarizes the preliminary allocation of purchase price to the estimated fair value of the assets acquired and liabilities assumed at the acquisition date (in thousands): Consideration Cash $ 34,977 Estimated purchase price receivable adjustment (365) Fair value of total consideration transferred $ 34,612 Recognized amount of identifiable assets acquired and liabilities assumed: Cash and cash equivalents $ 136 Other current assets 1,792 Other assets 43 Accounts payable and other current liabilities (438) Other long-term liabilities (395) Intangible asset 12,800 Total identifiable net assets assumed $ 13,938 Goodwill 20,674 Total purchase price allocation $ 34,612

Investments (Tables)

Investments (Tables)	9 Months Ended
Investments (Tables)	Sep. 30, 2023
Investments, Debt and Equity Securities [Abstract]
Summary of Investments Classified as Available-For-Sale	Our investments, which are all classified as available-for-sale, consisted of the following: As of September 30, 2023 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (in thousands) Description: U.S. government agencies $ 185,587 $ — $ (265) $ 185,322 Corporate bonds 1,501 — (10) 1,491 Agency bonds 3,250 — (26) 3,224 Total $ 190,338 $ — $ (301) $ 190,037 As of December 31, 2022 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (in thousands) Description: U.S government agencies $ 66,234 $ 4 $ (545) $ 65,693 Corporate bonds 14,351 — (230) 14,121 Commercial paper 7,944 — — 7,944 Agency bonds 6,231 — (71) 6,160 Total $ 94,760 $ 4 $ (846) $ 93,918

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
Fair Value Measurements (Tables)	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Summary of Financial Assets Measured and Recorded at Fair Value on Recurring Basis	The following table presents our financial assets and liabilities measured and recorded at fair value on a recurring basis using the above input categories: As of September 30, 2023 Level 1 Level 2 Level 3 Total (in thousands) Description: Assets: U.S. Government agencies $ 185,322 $ — $ — $ 185,322 Money market funds 65,592 — — 65,592 Agency bonds — 3,224 — 3,224 Corporate bonds — 1,491 — 1,491 Total $ 250,914 $ 4,715 $ — $ 255,629 Liabilities: Foreign currency forward contracts designated as cash flow hedges (other current liabilities and other liabilities) $ — $ 817 $ — $ 817 Total $ — $ 817 $ — $ 817 As of December 31, 2022 Level 1 Level 2 Level 3 Total (in thousands) Description: Assets: Money market funds $ 88,039 $ — $ — $ 88,039 U.S. Government agencies 65,693 — — 65,693 Corporate bonds — 14,121 — 14,121 Commercial paper — 7,944 — 7,944 Agency bonds — 6,160 — 6,160 Foreign currency forward contracts designated as cash flow hedges (prepaid expenses and other current assets) — 988 — 988 Total assets $ 153,732 $ 29,213 $ — $ 182,945 Liabilities: Foreign currency forward contracts designated as cash flow hedges (other current liabilities and other liabilities) $ — $ 1,559 $ — $ 1,559 Total liabilities $ — $ 1,559 $ — $ 1,559

Property and Equipment (Tables)

Property and Equipment (Tables)	9 Months Ended
Property and Equipment (Tables)	Sep. 30, 2023
Property, Plant and Equipment [Abstract]
Summary of Property and Equipment	Property and equipment are recorded at cost and consist of the following: As of September 30, 2023 As of December 31, 2022 (in thousands) Computer equipment and software $ 26,103 $ 24,568 Furniture and fixtures 11,090 11,823 Leasehold improvements (1) 56,037 66,180 Total 93,230 102,571 Less accumulated depreciation (50,781) (44,680) Property and equipment, net $ 42,449 $ 57,891 (1) As of September 30, 2023, leasehold improvements with a net book value of $8.6 million were recorded as an impairment of long-lived assets related to certain idle office space at our corporate headquarters in Boston, Massachusetts and idle office space in Los Angeles, California, and Toronto, Canada. Refer to Note 11, Leases, for further details on the impairment of long-lived assets.

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	9 Months Ended
Goodwill and Intangible Assets (Tables)	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Goodwill	The following table displays the changes in the gross carrying amount of goodwill: Amount (in thousands) Balance at December 31, 2022 $ 515,631 Minerva acquisition 20,674 Balance at September 30, 2023 $ 536,305
Summary of Identifiable Intangible Assets	The following table presents details of our intangible assets, which include acquired identifiable intangible assets and capitalized internal-use software costs: As of September 30, 2023 As of December 31, 2022 Weighted- Gross Carrying Accumulated Net Book Value Gross Carrying Accumulated Net Book Value (in thousands) Intangible assets subject to amortization: Developed technology 5.4 $ 135,355 $ (72,638) $ 62,717 $ 122,555 $ (58,645) $ 63,910 Customer relationships 4.5 12,000 (7,102) 4,898 12,000 (5,146) 6,854 Trade names 3.1 2,619 (2,334) 285 2,619 (1,874) 745 Total acquired intangible assets 149,974 (82,074) 67,900 137,174 (65,665) 71,509 Internal-use software 3.0 52,525 (20,432) 32,093 43,002 (13,242) 29,760 Total intangible assets $ 202,499 $ (102,506) $ 99,993 $ 180,176 $ (78,907) $ 101,269
Summary of Estimated Amortization Expense	Estimated future amortization expense of the acquired identifiable intangible assets and completed capitalized internal-use software costs as of September 30, 2023 was as follows (in thousands): 2023 (for the remaining three months) $ 7,777 2024 28,913 2025 24,940 2026 15,903 2027 6,806 2028 and thereafter 5,131 Total $ 89,470

Deferred Contract Acquisition_2

Deferred Contract Acquisition and Fulfillment Costs (Tables)	9 Months Ended
	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Summary of Activity of Deferred Contract Acquisition and Fulfillment Costs	The following table summarizes the activity of the deferred contract acquisition and fulfillment costs for the nine months ended September 30, 2023 and 2022: Nine Months Ended September 30, 2023 2022 (in thousands) Beginning balance $ 103,075 $ 87,165 Capitalization of contract acquisition and fulfillment costs 39,904 33,948 Amortization of deferred contract acquisition and fulfillment costs (30,416) (25,949) Ending balance $ 112,563 $ 95,164

Debt (Tables)

Debt (Tables)	9 Months Ended
Debt (Tables)	Sep. 30, 2023
Debt Disclosure [Abstract]
Summary of Long-term Debt Instruments	Further details of the Notes are as follows: Issuance Maturity Date Interest Rate First Interest Payment Date Effective Interest Rate Semi-Annual Interest Payment Dates Initial Conversion Rate per $1,000 Principal Initial Conversion Price Number of Shares (in millions) 2025 Notes May 1, 2025 2.25 % November 1, 2020 2.88 % May 1 and November 1 16.3875 $ 61.02 0.8 2027 Notes March 15, 2027 0.25 % September 15, 2021 0.67 % March 15 and September 15 9.6734 $ 103.38 5.8 2029 Notes March 15, 2029 1.25 % March 15, 2024 1.69 % March 15 and September 15 15.4213 $ 64.85 4.6
Summary of Liability and Equity Components of Convertible Debt	The net carrying amount of the Notes as of September 30, 2023 and December 31, 2022 was as follows (in thousands): 2025 Notes 2027 Notes 2029 Notes Principal Unamortized debt issuance costs Total Principal Unamortized debt issuance costs Total Principal Unamortized debt issuance costs Total Balance at December 31, 2022 $ 229,992 $ (3,480) $ 226,512 $ 600,000 $ (10,564) $ 589,436 $ — $ — $ — Issuance — — — — — — 300,000 (7,984) $ 292,016 Partial repurchase (184,000) 2,010 (181,990) — — — — — Amortization of debt issuance costs — 990 990 — 1,855 1,855 — 73 73 Balance at September 30, 2023 $ 45,992 $ (480) $ 45,512 $ 600,000 $ (8,709) $ 591,291 $ 300,000 $ (7,911) $ 292,089 Interest expense related to the Notes was as follows (in thousands): Three Months Ended September 30, 2023 2022 2025 Notes 2027 Notes 2029 Notes Total 2025 Notes 2027 Notes Total Contractual interest expense $ 948 $ 375 $ 229 $ 1,552 $ 1,292 $ 377 $ 1,669 Amortization of debt issuance costs 289 631 73 993 371 626 997 Total interest expense $ 1,237 $ 1,006 $ 302 $ 2,545 $ 1,663 $ 1,003 $ 2,666 Nine Months Ended September 30, 2023 2022 2025 Notes 2027 Notes 2029 Notes Total 2025 Notes 2027 Notes Total Contractual interest expense $ 3,536 $ 1,125 $ 229 $ 4,890 $ 3,880 $ 1,127 $ 5,007 Amortization of debt issuance costs 990 1,855 73 2,918 1,052 1,840 2,892 Total interest expense $ 4,526 $ 2,980 $ 302 $ 7,808 $ 4,932 $ 2,967 $ 7,899
Summary of Other Key Terms and Premiums Paid for the Capped Calls Related to Each Series of Notes	The following table sets forth other key terms and premiums paid for the Capped Calls related to each series of Notes: Capped Calls Entered into in Connection with the Issuance of the 2023 Notes Capped Calls Entered into in Connection with the Issuance of the 2025 Notes Capped Calls Entered into in Connection with the Issuance of the 2027 Notes Capped Calls Entered into in Connection with the Issuance of the 2029 Notes Initial strike price, subject to certain adjustments $ 41.59 $ 61.02 $ 103.38 $ 64.85 Cap price, subject to certain adjustments $ 63.98 $ 93.88 $ 159.04 $ 97.88 Total premium paid (in thousands) $ 26,910 $ 27,255 $ 76,020 $ 36,570 Expiration dates June 2, 2023 - August 1, 2023 March 4, 2025 - April 29, 2025 January 1, 2027 - March 11, 2027 February 13, 2029 - March 13, 2029

Leases (Tables)

Leases (Tables)	9 Months Ended
Leases (Tables)	Sep. 30, 2023
Leases [Abstract]
Summary of Components of Lease Expense and Supplemental Cash Flow Information Related to Leases	The components of lease expense were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 (in thousands) Operating lease cost $ 3,799 $ 4,997 $ 12,716 $ 15,240 Short-term lease costs 322 461 959 1,315 Variable lease costs 1,681 2,184 6,141 6,716 Total lease costs $ 5,802 $ 7,642 $ 19,816 $ 23,271 Supplemental cash flow information related to leases was as follows: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 (in thousands) Cash paid for amounts included in the measurement of lease liabilities $ 4,897 $ 3,057 $ 16,444 $ 11,093 ROU assets obtained in exchange for new lease obligations $ 620 $ 3,811 $ 4,457 $ 12,675
Summary of Supplemental Balance Sheet Information Related to Operating Leases	Supplemental balance sheet information related to the operating leases was as follows: As of September 30, 2023 As of December 31, 2022 Weighted average remaining lease term (in years) - operating leases 6.0 6.6 Weighted average discount rate - operating leases 6.3 % 6.2 %
Summary of Maturities of Operating Lease Liabilities and Future Minimum Payments under Non-cancellable Leases	Maturities of operating lease liabilities as of September 30, 2023 were as follows (in thousands): 2023 (for the remaining three months) $ 3,469 2024 19,995 2025 18,851 2026 17,494 2027 16,699 2028 and thereafter 36,262 Total lease payments $ 112,770 Less: imputed interest (19,233) Total $ 93,537

Stock-Based Compensation Expe_2

Stock-Based Compensation Expense (Tables)	9 Months Ended
Stock-Based Compensation Expense (Tables)	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Summary of Stock-Based Compensation Expense	Stock-based compensation expense for restricted stock units (“RSUs”), performance-based restricted stock units (“PSUs”), stock options and issuances of common stock pursuant to our employee stock purchase plan was classified in the accompanying consolidated statements of operations as follows: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 (in thousands) Stock-based compensation expense: Cost of revenue $ 2,527 $ 2,745 $ 8,348 $ 7,610 Research and development 8,436 13,400 30,575 40,349 Sales and marketing 7,106 8,047 23,087 23,251 General and administrative 5,699 6,779 22,826 21,094 Total stock-based compensation expense $ 23,768 $ 30,971 $ 84,836 $ 92,304
Summary of Restricted Stock and Restricted Stock Unit Activity	RSUs and PSUs activity during the nine months ended September 30, 2023 was as follows: Shares Weighted-Average Unvested balance as of December 31, 2022 3,001,443 $ 83.88 Granted 2,232,289 41.54 Vested (1,139,340) 72.49 Forfeited (967,575) 67.85 Unvested balance as of September 30, 2023 3,126,817 $ 62.79
Summary of Stock Option Activity	Stock option activity during the nine months ended September 30, 2023 was as follows: Shares Weighted Weighted Aggregate Outstanding as of December 31, 2022 932,126 $ 12.70 3.2 $ 19,837 Granted — — Exercised (208,494) 14.31 $ 6,204 Forfeited/cancelled — — Outstanding as of September 30, 2023 723,632 $ 12.23 2.4 $ 24,276 Vested and exercisable as of September 30, 2023 723,632 $ 12.23 2.4 $ 24,276

Net Loss per Share (Tables)

Net Loss per Share (Tables)	9 Months Ended
Net Loss per Share (Tables)	Sep. 30, 2023
Earnings Per Share [Abstract]
Summary of Basic and Diluted Net Loss Per Share of Common Stock	The following table summarizes the computation of basic and diluted net loss per share of our common stock for the three and nine months ended September 30, 2023 and 2022: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 (in thousands, except share and per share data) Numerator: Net loss $ (76,611) $ (28,727) $ (169,308) $ (113,332) Denominator: Weighted-average common shares outstanding, basic and diluted 61,065,157 58,730,651 60,506,082 58,229,872 Net loss per share, basic and diluted $ (1.25) $ (0.49) $ (2.80) $ (1.95)
Summary of Anti-Dilutive Securities Excluded from Computation Diluted Weighted Average Shares Outstanding	The following potentially dilutive securities outstanding have been excluded from the computation of diluted weighted-average shares outstanding for the respective periods below because they would have been anti-dilutive: Three and Nine Months Ended September 30, 2023 2022 Options to purchase common stock 723,632 1,218,790 Unvested restricted stock units 3,126,817 3,279,901 Common stock issued in conjunction with acquisitions 115,041 240,041 Shares to be issued under ESPP 20,802 30,501 Convertible senior notes 11,183,611 9,572,955 Total 15,169,903 14,342,188

Segment Information and Infor_2

Segment Information and Information about Geographic Areas (Tables)	9 Months Ended
	Sep. 30, 2023
Segment Reporting [Abstract]
Summary of Net Revenues of Customer by Geographic Area	Net revenues by geographic area presented based upon the location of the customer were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 (in thousands) United States $ 147,929 $ 131,628 $ 427,629 $ 376,752 Other 50,914 44,137 144,810 123,852 Total $ 198,843 $ 175,765 $ 572,439 $ 500,604
Summary of Property and Equipment, Net by Geographic Area	Property and equipment, net by geographic area was as follows: As of September 30, 2023 As of December 31, 2022 (in thousands) United States $ 29,709 $ 41,570 Other 12,740 16,321 Total $ 42,449 $ 57,891

Restructuring (Tables)

Restructuring (Tables)	9 Months Ended
Restructuring (Tables)	Sep. 30, 2023
Restructuring and Related Activities [Abstract]
Schedule of Restructuring Liability	The following table presents the activity of the restructuring liability for the three months ended September 30, 2023: Restructuring Liability (in thousands) Balance at December 31, 2022 $ — Charges 19,996 Payments (15,318) Balance at September 30, 2023 $ 4,678

Revenue from Contracts with C_3

Revenue from Contracts with Customers - Summary of Revenue from Contracts with Customers and Revenue by Region (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Disaggregation of Revenue [Line Items]
Total revenue	$ 198,843	$ 175,765	$ 572,439	$ 500,604
Subscriptions
Disaggregation of Revenue [Line Items]
Total revenue	189,596	165,687	544,391	470,925
Professional services
Disaggregation of Revenue [Line Items]
Total revenue	8,967	9,269	27,090	25,961
Other
Disaggregation of Revenue [Line Items]
Total revenue	$ 280	$ 809	$ 958	$ 3,718

Revenue from Contracts with C_4

Revenue from Contracts with Customers - Additional Information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Disaggregation of Revenue [Line Items]
Revenue recognized	$ 174,300,000	$ 153,800,000	$ 366,500,000	$ 308,300,000
Unbilled receivables	2,400,000		2,400,000		$ 1,100,000
Contracts assets	$ 0		$ 0		$ 0
Professional services
Disaggregation of Revenue [Line Items]
Contractual period			1 year

Revenue from Contracts with C_5

Revenue from Contracts with Customers - Summary of Estimated Revenue Expected to be Recognized in Future Related to Performance Obligations (Details) $ in Thousands	Sep. 30, 2023 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 528,791
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	242,511
Subscriptions \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 507,807
Expected timing of satisfaction, period	12 months
Subscriptions \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 234,563
Expected timing of satisfaction, period
Professional services \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 19,729
Expected timing of satisfaction, period	12 months
Professional services \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 7,520
Expected timing of satisfaction, period
Other \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 1,255
Expected timing of satisfaction, period	12 months
Other \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 428
Expected timing of satisfaction, period

Business Combinations - Additio

Business Combinations - Additional Information (Details) $ in Thousands		3 Months Ended		9 Months Ended
	Mar. 14, 2023 USD ($) shares	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($) reportingUnit	Sep. 30, 2022 USD ($)
Business Acquisition [Line Items]
Share-based payment arrangement, expense		$ 23,768	$ 30,971	$ 84,836	$ 92,304
Number of reporting units \| reportingUnit				1
Minerva labs
Business Acquisition [Line Items]
Fair value of total consideration transferred	$ 34,612
Purchase consideration	34,977
Estimated purchase price receivable adjustment	$ 365
Common stock shares issued (in shares) \| shares	73,846
Common stock, fair value of shares issued	$ 3,600
Stock based payment arrangement, expense requisite service period	24 months
Intangible asset	$ 12,800
Acquisition related transaction costs				$ 400
Minerva labs \| Developed technology
Business Acquisition [Line Items]
Share-based payment arrangement, expense		$ 400		$ 1,000
Useful life (in years)	8 years

Business Combinations - Summary

Business Combinations - Summary of Preliminary Allocation of Purchase Price to Estimated Fair Value of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Mar. 14, 2023	Sep. 30, 2023	Dec. 31, 2022
Recognized amount of identifiable assets acquired and liabilities assumed:
Goodwill		$ 536,305	$ 515,631
Minerva labs
Consideration
Cash	$ 34,977
Estimated purchase price receivable adjustment	(365)
Fair value of total consideration transferred	34,612
Recognized amount of identifiable assets acquired and liabilities assumed:
Cash and cash equivalents	136
Other current assets	1,792
Other assets	43
Accounts payable and other current liabilities	(438)
Other long-term liabilities	(395)
Intangible asset	12,800
Total identifiable net assets assumed	13,938
Goodwill	20,674
Total purchase price allocation	$ 34,612

Investments (Details)

Investments (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
Investments (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Debt and Equity Securities, FV-NI [Line Items]
Amortized Cost	$ 190,338	$ 94,760
Gross Unrealized Gains	0	4
Gross Unrealized Losses	(301)	(846)
Fair Value	$ 190,037	$ 93,918
Minimum
Debt and Equity Securities, FV-NI [Line Items]
Remaining maturity	1 month	2 months
Maximum
Debt and Equity Securities, FV-NI [Line Items]
Remaining maturity	18 months	19 months
U.S. government agencies
Debt and Equity Securities, FV-NI [Line Items]
Amortized Cost	$ 185,587	$ 66,234
Gross Unrealized Gains	0	4
Gross Unrealized Losses	(265)	(545)
Fair Value	185,322	65,693
Corporate bonds
Debt and Equity Securities, FV-NI [Line Items]
Amortized Cost	1,501	14,351
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(10)	(230)
Fair Value	1,491	14,121
Commercial paper
Debt and Equity Securities, FV-NI [Line Items]
Amortized Cost		7,944
Gross Unrealized Gains		0
Gross Unrealized Losses		0
Fair Value		7,944
Agency bonds
Debt and Equity Securities, FV-NI [Line Items]
Amortized Cost	3,250	6,231
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(26)	(71)
Fair Value	$ 3,224	$ 6,160

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Financial Assets Measured and Recorded at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Assets:
Available-for-sale securities	$ 190,037	$ 93,918
The Notes, Due 2025 \| Convertible Debt
Liabilities:
Debt instrument, interest rate	2.25%
Convertible debt, fair value	$ 47,100
The Notes, Due 2027 \| Convertible Debt
Liabilities:
Debt instrument, interest rate	0.25%
Convertible debt, fair value	$ 511,100
The Notes, Due 2029 \| Convertible Debt
Liabilities:
Debt instrument, interest rate	1.25%
Convertible debt, fair value	$ 290,700
Corporate bonds
Assets:
Available-for-sale securities	1,491	14,121
Commercial paper
Assets:
Available-for-sale securities		7,944
Agency bonds
Assets:
Available-for-sale securities	3,224	6,160
Fair Value, Recurring
Assets:
Foreign currency forward contracts designated as cash flow hedges (prepaid expenses and other current assets)		988
Total	255,629	182,945
Liabilities:
Foreign currency forward contracts designated as cash flow hedges (other current liabilities and other liabilities)	817	1,559
Total	817	1,559
Fair Value, Recurring \| Corporate bonds
Assets:
Available-for-sale securities	1,491	14,121
Fair Value, Recurring \| Commercial paper
Assets:
Available-for-sale securities		7,944
Fair Value, Recurring \| Agency bonds
Assets:
Available-for-sale securities	3,224	6,160
Fair Value, Recurring \| U.S. Government agencies
Assets:
Available-for-sale securities	185,322	65,693
Fair Value, Recurring \| Money market funds
Assets:
Money market funds	65,592	88,039
Level 1 \| Fair Value, Recurring
Assets:
Foreign currency forward contracts designated as cash flow hedges (prepaid expenses and other current assets)		0
Total	250,914	153,732
Liabilities:
Foreign currency forward contracts designated as cash flow hedges (other current liabilities and other liabilities)	0	0
Total	0	0
Level 1 \| Fair Value, Recurring \| Corporate bonds
Assets:
Available-for-sale securities	0	0
Level 1 \| Fair Value, Recurring \| Commercial paper
Assets:
Available-for-sale securities		0
Level 1 \| Fair Value, Recurring \| Agency bonds
Assets:
Available-for-sale securities	0	0
Level 1 \| Fair Value, Recurring \| U.S. Government agencies
Assets:
Available-for-sale securities	185,322	65,693
Level 1 \| Fair Value, Recurring \| Money market funds
Assets:
Money market funds	65,592	88,039
Level 2 \| Fair Value, Recurring
Assets:
Foreign currency forward contracts designated as cash flow hedges (prepaid expenses and other current assets)		988
Total	4,715	29,213
Liabilities:
Foreign currency forward contracts designated as cash flow hedges (other current liabilities and other liabilities)	817	1,559
Total	817	1,559
Level 2 \| Fair Value, Recurring \| Corporate bonds
Assets:
Available-for-sale securities	1,491	14,121
Level 2 \| Fair Value, Recurring \| Commercial paper
Assets:
Available-for-sale securities		7,944
Level 2 \| Fair Value, Recurring \| Agency bonds
Assets:
Available-for-sale securities	3,224	6,160
Level 2 \| Fair Value, Recurring \| U.S. Government agencies
Assets:
Available-for-sale securities	0	0
Level 2 \| Fair Value, Recurring \| Money market funds
Assets:
Money market funds	0	0
Level 3 \| Fair Value, Recurring
Assets:
Foreign currency forward contracts designated as cash flow hedges (prepaid expenses and other current assets)		0
Total	0	0
Liabilities:
Foreign currency forward contracts designated as cash flow hedges (other current liabilities and other liabilities)	0	0
Total	0	0
Level 3 \| Fair Value, Recurring \| Corporate bonds
Assets:
Available-for-sale securities	0	0
Level 3 \| Fair Value, Recurring \| Commercial paper
Assets:
Available-for-sale securities		0
Level 3 \| Fair Value, Recurring \| Agency bonds
Assets:
Available-for-sale securities	0	0
Level 3 \| Fair Value, Recurring \| U.S. Government agencies
Assets:
Available-for-sale securities	0	0
Level 3 \| Fair Value, Recurring \| Money market funds
Assets:
Money market funds	$ 0	$ 0

Property and Equipment - Summar

Property and Equipment - Summary of Property and Equipment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 93,230		$ 93,230		$ 102,571
Less accumulated depreciation	(50,781)		(50,781)		(44,680)
Property and equipment, net	42,449		42,449		57,891
Impairment of long-lived assets	3,553	$ 0	30,784	$ 0
Computer equipment and software
Property, Plant and Equipment [Line Items]
Property and equipment, gross	26,103		26,103		24,568
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property and equipment, gross	11,090		11,090		11,823
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	56,037		56,037		$ 66,180
Impairment of long-lived assets	$ 1,600		$ 8,600

Property and Equipment - Additi

Property and Equipment - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 3.3	$ 3.5	$ 10.9	$ 10

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 536,305		$ 536,305		$ 515,631
Amortization expense	8,300	$ 6,700	23,600	$ 20,600
Capitalized computer software exclude of gross	$ 10,500		10,500
Impairment of capitalized internal-use software			$ 3,500

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Summary of Goodwill Activity (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2023 USD ($)
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 515,631
Goodwill, ending balance	536,305
Minerva acquisition
Goodwill [Roll Forward]
Goodwill, acquired during period	$ 20,674

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Summary of Identifiable Intangible Assets (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Total acquired intangible assets, gross carrying amount	$ 149,974	$ 137,174
Total acquired intangible assets, accumulated amortization	(82,074)	(65,665)
Total acquired intangible assets, net book value	67,900	71,509
Accumulated Amortization	(102,506)	(78,907)
Total intangible assets, gross carrying amount	202,499	180,176
Intangible assets, net book value	$ 99,993	101,269
Developed technology
Finite-Lived Intangible Assets [Line Items]
Weighted- Average Life (years)	5 years 4 months 24 days
Total acquired intangible assets, gross carrying amount	$ 135,355	122,555
Total acquired intangible assets, accumulated amortization	(72,638)	(58,645)
Total acquired intangible assets, net book value	$ 62,717	63,910
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Weighted- Average Life (years)	4 years 6 months
Total acquired intangible assets, gross carrying amount	$ 12,000	12,000
Total acquired intangible assets, accumulated amortization	(7,102)	(5,146)
Total acquired intangible assets, net book value	$ 4,898	6,854
Trade names
Finite-Lived Intangible Assets [Line Items]
Weighted- Average Life (years)	3 years 1 month 6 days
Total acquired intangible assets, gross carrying amount	$ 2,619	2,619
Total acquired intangible assets, accumulated amortization	(2,334)	(1,874)
Total acquired intangible assets, net book value	$ 285	745
Internal-use software
Finite-Lived Intangible Assets [Line Items]
Weighted- Average Life (years)	3 years
Gross Carrying Amount	$ 52,525	43,002
Accumulated Amortization	(20,432)	(13,242)
Net Book Value	$ 32,093	$ 29,760

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets - Summary of Estimated Amortization Expense (Details) $ in Thousands	Sep. 30, 2023 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2023 (for the remaining three months)	$ 7,777
2024	28,913
2025	24,940
2026	15,903
2027	6,806
2028 and thereafter	5,131
Net Book Value	$ 89,470

Deferred Contract Acquisition_3

Deferred Contract Acquisition and Fulfillment Costs - Summary of Activity of Deferred Contract Acquisition and Fulfillment Costs (Details) - Contract Acquisition and Fulfillment Costs - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Capitalized Contract Costs [Roll Forward]
Beginning balance	$ 103,075	$ 87,165
Capitalization of contract acquisition and fulfillment costs	39,904	33,948
Amortization of deferred contract acquisition and fulfillment costs	(30,416)	(25,949)
Ending balance	$ 112,563	$ 95,164

Derivatives and Hedging Activit

Derivatives and Hedging Activities - Balance Sheet Location (Details) - Designated as Hedging Instrument - Foreign Currency Forward Contracts Designated as Cash Flow Hedges - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Derivative [Line Items]
Term of contract	19 months	19 months
Notional amount	$ 50.3	$ 44.9

Debt - Additional Information (

Debt - Additional Information (Details)		1 Months Ended				2 Months Ended	3 Months Ended		4 Months Ended	9 Months Ended
Debt - Additional Information (Details)	Aug. 03, 2023 USD ($)	Sep. 30, 2023 USD ($)	Dec. 31, 2021 USD ($)	Mar. 31, 2021 USD ($)	May 31, 2020 USD ($) day	Aug. 01, 2023 day	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Apr. 30, 2020 USD ($)
Debt Instrument [Line Items]
Proceeds from convertible debt										$ 292,800,000	$ 0
Induced conversion expense										53,889,000	0
Other income (expense), net							$ (4,518,000)	$ (2,205,000)		(18,093,000)	$ (5,211,000)
Convertible Debt \| Debt Covenant One
Debt Instrument [Line Items]
Threshold trading days \| day					20
Threshold consecutive trading days \| day					30
Threshold percentage of stock price trigger					130%
Convertible Debt \| Debt Covenant Two
Debt Instrument [Line Items]
Threshold trading days \| day					5
Threshold consecutive trading days \| day					10
Threshold percentage of stock price trigger					98%
Convertible Debt \| Debt Covenant Three
Debt Instrument [Line Items]
Threshold percentage of stock price trigger					130%
Redemption price, percentage					100%
2025 Notes \| Convertible Debt
Debt Instrument [Line Items]
Face amount					$ 230,000,000
Proceeds from convertible debt					$ 222,800,000					0
Converted amount		$ 201,000,000
Repurchased face amount		184,000,000					$ 184,000,000		$ 184,000,000	$ 184,000,000
Induced conversion expense		$ 53,900,000
Interest Rate		2.25%					2.25%		2.25%	2.25%
2027 Notes \| Convertible Debt
Debt Instrument [Line Items]
Face amount				$ 600,000,000
Proceeds from convertible debt				$ 585,000,000						$ 0
Interest Rate		0.25%					0.25%		0.25%	0.25%
2029 Notes \| Convertible Debt
Debt Instrument [Line Items]
Face amount		$ 300,000,000					$ 300,000,000		$ 300,000,000	$ 300,000,000
Proceeds from convertible debt		$ 292,000,000								$ 292,016,000
Interest Rate		1.25%					1.25%		1.25%	1.25%
2023 Notes \| Call Option
Debt Instrument [Line Items]
Threshold trading days \| day						40
Cash fair value		$ 33,000,000					$ 33,000,000		$ 33,000,000	$ 33,000,000
Other income (expense), net									$ 15,500,000
Proceeds from settlement of capped calls	$ 17,500,000
2023 Notes \| Convertible Debt
Debt Instrument [Line Items]
Interest Rate		1.25%					1.25%		1.25%	1.25%
2023 Notes \| Convertible Debt \| Debt Covenant Three
Debt Instrument [Line Items]
Threshold trading days \| day					20
Threshold consecutive trading days \| day					30
Redemption price, percentage					100%
Credit Agreement
Debt Instrument [Line Items]
Credit sublimit			$ 15,000,000
Credit Agreement \| SOFR
Debt Instrument [Line Items]
Sofr spread rate			0.10%
Basis spread on variable rate			2.50%
Credit Agreement \| Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate			0%
Credit Agreement \| Revolving Credit Facility
Debt Instrument [Line Items]
Current borrowing capacity			$ 100,000,000		$ 50,000,000								$ 30,000,000
Credit sublimit													15,000,000
Maximum borrowing capacity			100,000,000									$ 50,000,000
Fee amount			$ 400,000
Commitment fee percentage			0.20%
Credit Agreement \| Letter of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity			$ 150,000,000										$ 70,000,000
Long-term line of credit		$ 9,000,000					$ 9,000,000		$ 9,000,000	$ 9,000,000

Debt - Summary of Long-term Deb

Debt - Summary of Long-term Debt Instruments (Details) - Convertible Debt shares in Millions	9 Months Ended
	Sep. 30, 2023 shares $ / shares
2025 Notes
Debt Instrument [Line Items]
Interest Rate	2.25%
Effective Interest Rate	2.88%
Initial Conversion Rate per $1,000 Principal	0.0163875
Initial Conversion Price (in dollars per share) \| $ / shares	$ 61.02
Number of shares (in shares) \| shares	0.8
2027 Notes
Debt Instrument [Line Items]
Interest Rate	0.25%
Effective Interest Rate	0.67%
Initial Conversion Rate per $1,000 Principal	0.0096734
Initial Conversion Price (in dollars per share) \| $ / shares	$ 103.38
Number of shares (in shares) \| shares	5.8
2029 Notes
Debt Instrument [Line Items]
Interest Rate	1.25%
Effective Interest Rate	1.69%
Initial Conversion Rate per $1,000 Principal	0.0154213
Initial Conversion Price (in dollars per share) \| $ / shares	$ 64.85
Number of shares (in shares) \| shares	4.6

Debt - Summary of Liability and

Debt - Summary of Liability and Equity Components of Convertible Debt (Details) - USD ($) $ in Thousands	1 Months Ended			3 Months Ended		9 Months Ended
	Sep. 30, 2023	Mar. 31, 2021	May 31, 2020	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Debt Instrument [Line Items]
Unamortized debt issuance costs						$ 0	$ (71)
Total						292,800	0
Convertible Debt
Debt Instrument [Line Items]
Amortization of debt issuance costs				$ 993	$ 997	2,918	2,892
Convertible Debt \| 2025 Notes
Debt Instrument [Line Items]
Principal	$ 45,992			45,992		45,992		$ 229,992
Unamortized debt issuance costs	(480)			(480)		(480)		(3,480)
Total	45,512			45,512		45,512		226,512
Principal						0
Unamortized debt issuance costs						0
Total			$ 222,800			0
Principal						(184,000)
Unamortized debt issuance costs						2,010
Total						(181,990)
Amortization of debt issuance costs				289	371	990	1,052
Convertible Debt \| 2027 Notes
Debt Instrument [Line Items]
Principal	600,000			600,000		600,000		600,000
Unamortized debt issuance costs	(8,709)			(8,709)		(8,709)		(10,564)
Total	591,291			591,291		591,291		589,436
Principal						0
Unamortized debt issuance costs						0
Total		$ 585,000				0
Amortization of debt issuance costs				631	$ 626	1,855	$ 1,840
Convertible Debt \| 2029 Notes
Debt Instrument [Line Items]
Principal	300,000			300,000		300,000		0
Unamortized debt issuance costs	(7,911)			(7,911)		(7,911)		0
Total	292,089			292,089		292,089		$ 0
Principal						300,000
Unamortized debt issuance costs						(7,984)
Total	$ 292,000					292,016
Amortization of debt issuance costs				$ 73		$ 73

Debt - Summary of Interest expe

Debt - Summary of Interest expense (Details) - Convertible Debt - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Debt Instrument [Line Items]
Contractual interest expense	$ 1,552	$ 1,669	$ 4,890	$ 5,007
Amortization of debt issuance costs	993	997	2,918	2,892
Total interest expense	2,545	2,666	7,808	7,899
2025 Notes
Debt Instrument [Line Items]
Contractual interest expense	948	1,292	3,536	3,880
Amortization of debt issuance costs	289	371	990	1,052
Total interest expense	1,237	1,663	4,526	4,932
2027 Notes
Debt Instrument [Line Items]
Contractual interest expense	375	377	1,125	1,127
Amortization of debt issuance costs	631	626	1,855	1,840
Total interest expense	1,006	$ 1,003	2,980	$ 2,967
2029 Notes
Debt Instrument [Line Items]
Contractual interest expense	229		229
Amortization of debt issuance costs	73		73
Total interest expense	$ 302		$ 302

Debt - Summary of Other Key Ter

Debt - Summary of Other Key Terms and Premiums Paid for the Capped Calls (Details) - Call Option $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2023 USD ($) $ / shares
Capped Calls Entered into in Connection with the Issuance of the 2023 Notes
Debt Instrument [Line Items]
Initial strike price, subject to certain adjustments (in dollars per share)	$ 41.59
Cap price, subject to certain adjustments (in dollars per share)	$ 63.98
Total premium paid \| $	$ 26,910
Capped Calls Entered into in Connection with the Issuance of the 2025 Notes
Debt Instrument [Line Items]
Initial strike price, subject to certain adjustments (in dollars per share)	$ 61.02
Cap price, subject to certain adjustments (in dollars per share)	$ 93.88
Total premium paid \| $	$ 27,255
Capped Calls Entered into in Connection with the Issuance of the 2027 Notes
Debt Instrument [Line Items]
Initial strike price, subject to certain adjustments (in dollars per share)	$ 103.38
Cap price, subject to certain adjustments (in dollars per share)	$ 159.04
Total premium paid \| $	$ 76,020
Capped Calls Entered into in Connection with the Issuance of the 2029 Notes
Debt Instrument [Line Items]
Initial strike price, subject to certain adjustments (in dollars per share)	$ 64.85
Cap price, subject to certain adjustments (in dollars per share)	$ 97.88
Total premium paid \| $	$ 36,570

Leases - Additional Information

Leases - Additional Information (Details) $ in Thousands	3 Months Ended		9 Months Ended
Leases - Additional Information (Details) $ in Thousands	Sep. 30, 2023 USD ($) leaseRenewalOption	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($) leaseRenewalOption	Sep. 30, 2022 USD ($)	Dec. 31, 2022
Lessee, Lease, Description [Line Items]
Lease term	6 years		6 years		6 years 7 months 6 days
Number of lease renewal options \| leaseRenewalOption	1		1
Renewal term	5 years		5 years
Termination period			4 years
Impairment of long-lived assets	$ 3,553	$ 0	$ 30,784	$ 0
Impairment losses	$ 2,000		$ 22,200
Office Building
Lessee, Lease, Description [Line Items]
Lease term	8 years 6 months		8 years 6 months
Leasehold Improvements
Lessee, Lease, Description [Line Items]
Impairment of long-lived assets	$ 1,600		$ 8,600

Leases - Summary of Components

Leases - Summary of Components of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Leases [Abstract]
Operating lease cost	$ 3,799	$ 4,997	$ 12,716	$ 15,240
Short-term lease costs	322	461	959	1,315
Variable lease costs	1,681	2,184	6,141	6,716
Total lease costs	$ 5,802	$ 7,642	$ 19,816	$ 23,271

Leases - Summary of Supplementa

Leases - Summary of Supplemental Balance Sheet Information Related to Operating Leases (Details)	Sep. 30, 2023	Dec. 31, 2022
Leases [Abstract]
Weighted average remaining lease term (in years) - operating leases	6 years	6 years 7 months 6 days
Weighted average discount rate - operating leases	6.30%	6.20%

Leases - Summary of Supplemen_2

Leases - Summary of Supplemental Cash Flow Information Related to Leases (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Leases [Abstract]
Cash paid for amounts included in the measurement of lease liabilities	$ 4,897	$ 3,057	$ 16,444	$ 11,093
ROU assets obtained in exchange for new lease obligations	$ 620	$ 3,811	$ 4,457	$ 12,675

Leases - Summary of Maturities

Leases - Summary of Maturities of Operating Lease Liabilities (Details) $ in Thousands	Sep. 30, 2023 USD ($)
Leases [Abstract]
2023 (for the remaining three months)	$ 3,469
2024	19,995
2025	18,851
2026	17,494
2027	16,699
2028	36,262
Total lease payments	112,770
Less: imputed interest	(19,233)
Total	$ 93,537

Stock-Based Compensation Expe_3

Stock-Based Compensation Expense - Summary of Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 23,768	$ 30,971	$ 84,836	$ 92,304
Cost of revenue
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	2,527	2,745	8,348	7,610
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	8,436	13,400	30,575	40,349
Sales and marketing
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	7,106	8,047	23,087	23,251
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 5,699	$ 6,779	$ 22,826	$ 21,094

Stock-Based Compensation Expe_4

Stock-Based Compensation Expense - Additional Information (Details) $ / shares in Units, $ in Thousands			1 Months Ended	3 Months Ended		9 Months Ended
	Sep. 15, 2023 USD ($) $ / shares shares	Mar. 15, 2023 USD ($) $ / shares shares	Feb. 28, 2023 installment shares	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period						4 years
Share-based payment arrangement, expense				$ 23,768	$ 30,971	$ 84,836	$ 92,304
Number of vesting installments \| installment			3
Purchase price of common stock by employees						85%
Issuance of common stock under employee stock purchase plan				5,149	6,233	$ 11,323	11,943
RSUs and PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense				265,800		$ 265,800
Unrecognized compensation expense, recognition period						2 years 3 months 18 days
PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			1 year
Granted (in shares) \| shares			173,103
Maximum target payout in shares (percent)			200%
2020 Bonus Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment arrangement, expense				$ 50	$ (800)	$ 1,100	$ 800
Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock issued to employees (in shares) \| shares	152,419	177,886
Share issued, price per share (in dollars per share) \| $ / shares	$ 33.78	$ 34.71
Issuance of common stock under employee stock purchase plan	$ 5,100	$ 6,200
Employee Stock Purchase Plan \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee withholding percentage						15%

Stock-Based Compensation Expe_5

Stock-Based Compensation Expense - Summary of Restricted Stock and Restricted Stock Unit Activity (Details) - Restricted Stock Units (RSUs)	9 Months Ended
	Sep. 30, 2023 $ / shares shares
Shares
Unvested balance, beginning balance (in shares) \| shares	3,001,443
Granted (in shares) \| shares	2,232,289
Vested (in shares) \| shares	(1,139,340)
Forfeited (in shares) \| shares	(967,575)
Unvested balance, ending balance (in shares) \| shares	3,126,817
Weighted-Average Grant Date Fair Value
Unvested balance, beginning balance (in dollars per share) \| $ / shares	$ 83.88
Granted (in dollars per share) \| $ / shares	41.54
Vested (in dollars per share) \| $ / shares	72.49
Forfeited (in dollars per share) \| $ / shares	67.85
Unvested balance, ending Balance (in dollars per share) \| $ / shares	$ 62.79

Stock-Based Compensation Expe_6

Stock-Based Compensation Expense - Summary of Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Shares
Outstanding, beginning balance (in shares)	932,126
Granted (in shares)	0
Exercised (in shares)	(208,494)
Forfeited/canceled (in shares)	0
Outstanding, ending balance (in shares)	723,632	932,126
Vested and exercisable (in shares)	723,632
Weighted Average Exercise Price
Outstanding, beginning balance (in dollars per share)	$ 12.70
Granted (in dollars per share)	0
Exercised (in dollars per share)	14.31
Forfeited/canceled (in dollars per share)	0
Outstanding, ending balance (in dollars per share)	12.23	$ 12.70
Vested and exercisable (in dollars per share)	$ 12.23
Weighted Average Remaining Contractual Life (in years)
Outstanding	2 years 4 months 24 days	3 years 2 months 12 days
Vested and exercisable	2 years 4 months 24 days
Aggregate Intrinsic Value
Outstanding	$ 24,276	$ 19,837
Exercised	6,204
Vested and exercisable	$ 24,276

Net Loss per Share - Summary of

Net Loss per Share - Summary of Basic and Diluted Net Loss Per Share of Common Stock (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Numerator:
Net loss	$ (76,611)	$ (28,727)	$ (169,308)	$ (113,332)
Denominator:
Weighted-average common shares outstanding, basic (in Shares)	61,065,157	58,730,651	60,506,082	58,229,872
Weighted-average common shares outstanding, diluted (in Shares)	61,065,157	58,730,651	60,506,082	58,229,872
Net loss per share, basic (in dollars per share)	$ (1.25)	$ (0.49)	$ (2.80)	$ (1.95)
Net loss per share, diluted (in dollars per share)	$ (1.25)	$ (0.49)	$ (2.80)	$ (1.95)

Net Loss per Share - Summary _2

Net Loss per Share - Summary of Antidilutive Securities Excluded From Computation Diluted Weighted Average Shares Outstanding (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Schedule Of Calculation Of Numerator And Denominator In Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount (in shares)	15,169,903	14,342,188	15,169,903	14,342,188
Options to purchase common stock
Schedule Of Calculation Of Numerator And Denominator In Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount (in shares)	723,632	1,218,790	723,632	1,218,790
Unvested restricted stock units
Schedule Of Calculation Of Numerator And Denominator In Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount (in shares)	3,126,817	3,279,901	3,126,817	3,279,901
Common stock issued in conjunction with acquisitions
Schedule Of Calculation Of Numerator And Denominator In Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount (in shares)	115,041	240,041	115,041	240,041
Shares to be issued under ESPP
Schedule Of Calculation Of Numerator And Denominator In Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount (in shares)	20,802	30,501	20,802	30,501
Convertible senior notes
Schedule Of Calculation Of Numerator And Denominator In Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount (in shares)	11,183,611	9,572,955	11,183,611	9,572,955

Segment Information and Infor_3

Segment Information and Information about Geographic Areas - Additional Information (Details)	9 Months Ended
	Sep. 30, 2023 segment
Segment Reporting [Abstract]
Number of operating segments	1

Segment Information and Infor_4

Segment Information and Information about Geographic Areas - Summary of Net Revenues of Customer by Geographic Area (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Entity Wide Portfolio Carrying Amount, Major Customer [Line Items]
Total	$ 198,843	$ 175,765	$ 572,439	$ 500,604
United States
Entity Wide Portfolio Carrying Amount, Major Customer [Line Items]
Total	147,929	131,628	427,629	376,752
Other
Entity Wide Portfolio Carrying Amount, Major Customer [Line Items]
Total	$ 50,914	$ 44,137	$ 144,810	$ 123,852

Segment Information and Infor_5

Segment Information and Information about Geographic Areas - Summary of Property and Equipment, Net By Geographic Area (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Revenues from External Customers and Long-Lived Assets [Line Items]
Total	$ 42,449	$ 57,891
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Total	29,709	41,570
Other
Revenues from External Customers and Long-Lived Assets [Line Items]
Total	$ 12,740	$ 16,321

Restructuring (Details)

Restructuring (Details) - USD ($) $ in Millions		3 Months Ended	9 Months Ended
Restructuring (Details) - USD ($) $ in Millions	Aug. 07, 2023	Sep. 30, 2023	Sep. 30, 2023
Restructuring and Related Activities [Abstract]
Workforce reduction percentage	17%
Restructuring, incurred cost		$ 20
Accelerated cost		1.2
Restructuring reserve, accrual			$ 4.7
Restructuring and related cost, expected cost remaining		3.5	$ 3.5
Impairment loss		$ 3.6

Restructuring - Restructuring L

Restructuring - Restructuring Liability (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Restructuring Liability
Beginning balance			$ 0
Charges	$ 19,996	$ 0	19,996	$ 0
Payments			(15,318)
Ending balance	$ 4,678		$ 4,678