Nextdoor (KIND) 10-Q9 May 232023 Q1 Quarterly reportFinancial data

Company Profile

Cover

Cover - shares	3 Months Ended
Cover - shares	Mar. 31, 2023	May 05, 2023
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2023
Document Transition Report	false
Entity File Number	001-40246
Entity Registrant Name	Nextdoor Holdings, Inc
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	86-1776836
Entity Address, Address Line One	420 Taylor Street
Entity Address, City or Town	San Francisco
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94102
City Area Code	415
Local Phone Number	344-0333
Title of 12(b) Security	Class A common stock, par value $0.0001 per share
Trading Symbol	KIND
Security Exchange Name	NYSE
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
Amendment Flag	false
Entity Central Index Key	0001846069
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--12-31
Class A Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		159,130,899
Class B Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		215,444,085

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 67,818	$ 55,236
Marketable securities	507,010	528,067
Accounts receivable, net of allowance of $373 and $422 as of March 31, 2023 and December 31, 2022, respectively	28,045	29,770
Prepaid expenses and other current assets	11,194	12,185
Total current assets	614,067	625,258
Property and equipment, net	10,895	11,818
Operating lease right-of-use assets	60,351	52,555
Intangible assets, net	2,633	3,067
Goodwill	1,211	1,211
Other assets	5,629	5,653
Total assets	694,786	699,562
Current liabilities:
Accounts payable	5,068	4,535
Operating lease liabilities, current	5,660	7,766
Accrued expenses and other current liabilities	22,520	22,362
Total current liabilities	33,248	34,663
Operating lease liabilities, non-current	65,114	53,831
Total liabilities	98,362	88,494
Commitments and contingencies (Note 7)
Stockholders’ equity:
Additional paid-in capital	1,249,043	1,231,482
Accumulated other comprehensive loss	(686)	(2,196)
Accumulated deficit	(651,971)	(618,255)
Total stockholders’ equity	596,424	611,068
Total liabilities and stockholders’ equity	694,786	699,562
Class A Common Stock
Stockholders’ equity:
Common stock	16	15
Class B Common Stock
Stockholders’ equity:
Common stock	$ 22	$ 22

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Accounts receivable, allowance for credit loss	$ 373	$ 422
Class A Common Stock
Common stock, par value (in USD per share)	$ 0.0001	$ 0.0001
Common stock authorized (in shares)	2,500,000,000	2,500,000,000
Common stock issued (in shares)	158,918,000	153,693,000
Common stock outstanding (in shares)	158,918,000	153,693,000
Class B Common Stock
Common stock, par value (in USD per share)	$ 0.0001	$ 0.0001
Common stock authorized (in shares)	500,000,000	500,000,000
Common stock issued (in shares)	215,596,000	218,029,000
Common stock outstanding (in shares)	215,596,000	218,029,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Income Statement [Abstract]
Revenue	$ 49,771	$ 51,000
Costs and expenses:
Cost of revenue	9,913	9,055
Research and development	32,982	28,960
Sales and marketing	29,209	31,061
General and administrative	16,479	15,150
Total costs and expenses	88,583	84,226
Loss from operations	(38,812)	(33,226)
Interest income	5,513	491
Other income (expense), net	(116)	(185)
Loss before income taxes	(33,415)	(32,920)
Provision for income taxes	301	28
Net loss	$ (33,716)	$ (32,948)
Net loss per share attributable to Class A and Class B common stockholders, basic (in USD per share)	$ (0.09)	$ (0.09)
Net loss per share attributable to Class A and Class B common stockholders, diluted (in USD per share)	$ (0.09)	$ (0.09)
Weighted average shares used in computing net loss per share attributable to Class A and Class B common stockholders, basic (in shares)	373,025	381,877
Weighted average shares used in computing net loss per share attributable to Class A and Class B common stockholders, diluted (in shares)	373,025	381,877

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Statement of Comprehensive Income [Abstract]
Net loss	$ (33,716)	$ (32,948)
Other comprehensive income (loss):
Foreign currency translation adjustments	19	74
Change in unrealized gain (loss) on available-for-sale marketable securities	1,491	(1,586)
Total other comprehensive income (loss)	1,510	(1,512)
Comprehensive loss	$ (32,206)	$ (34,460)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Class A Common Stock	Class B Common Stock	Common Stock Class A Common Stock	Common Stock Class B Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Loss	Accumulated Deficit
Balance at beginning of period (in shares) at Dec. 31, 2021				78,954	304,701
Balance at beginning of period at Dec. 31, 2021	$ 744,985			$ 8	$ 30	$ 1,225,815	$ (529)	$ (480,339)
Release of restricted stock units (in shares)				53	96
Tax withholdings on release of restricted stock units	(695)					(695)
Issuance of common stock upon exercise of stock options (in shares)					2,259
Issuance of common stock upon exercise of stock options	4,145				$ 1	4,144
Issuance of common stock in connection with acquisition (in shares)					172
Vesting of early exercised stock options	118					118
Vesting of restricted stock	1,429					1,429
Stock-based compensation	12,144					12,144
Other comprehensive income (loss)	(1,512)						(1,512)
Net loss	(32,948)							(32,948)
Balance at end of period (in shares) at Mar. 31, 2022				79,007	307,228
Balance at end of period at Mar. 31, 2022	727,666			$ 8	$ 31	1,242,955	(2,041)	(513,287)
Balance at beginning of period (in shares) at Dec. 31, 2022		153,693	218,029	153,693	218,029
Balance at beginning of period at Dec. 31, 2022	$ 611,068			$ 15	$ 22	1,231,482	(2,196)	(618,255)
Release of restricted stock units (in shares)				1,935
Conversion from Class B to Class A common stock (in shares)				2,433	(2,433)
Issuance of common stock upon exercise of stock options (in shares)	297			297
Issuance of common stock upon exercise of stock options	$ 537					537
Issuance of common stock under employee stock purchase plan (in shares)				560
Issuance of common stock under employee stock purchase plan	1,076			$ 1		1,075
Vesting of early exercised stock options	133					133
Stock-based compensation	15,816					15,816
Other comprehensive income (loss)	1,510						1,510
Net loss	(33,716)							(33,716)
Balance at end of period (in shares) at Mar. 31, 2023		158,918	215,596	158,918	215,596
Balance at end of period at Mar. 31, 2023	$ 596,424			$ 16	$ 22	$ 1,249,043	$ (686)	$ (651,971)

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Cash flows from operating activities:
Net loss	$ (33,716)	$ (32,948)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	1,451	1,330
Stock-based compensation	15,816	12,144
Bad debt expense	(6)	(221)
Other	(2,176)	(582)
Changes in operating assets and liabilities:
Accounts receivable, net	1,731	7,843
Prepaid expenses and other current assets	2,549	4,499
Operating lease right-of-use assets	1,311	1,687
Other assets	24	26
Accounts payable	498	(3,143)
Operating lease liabilities	(1,489)	(1,716)
Accrued expenses and other current liabilities	292	5,568
Net cash used in operating activities	(13,715)	(5,513)
Cash flows from investing activities:
Purchases of property and equipment	(59)	(637)
Purchases of marketable securities	(190,007)	(318,245)
Sales of marketable securities	42,684	0
Maturities of marketable securities	172,047	7,342
Net cash provided by (used in) investing activities	24,665	(311,540)
Cash flows from financing activities:
Proceeds from exercise of stock options, net of repurchases	537	4,145
Proceeds from issuance of common stock under employee stock purchase plan	1,076	0
Payment of transaction costs related to the Reverse Recapitalization	0	(314)
Tax withholdings on release of restricted stock units	0	(695)
Net cash provided by financing activities	1,613	3,136
Effect of exchange rate changes on cash and cash equivalents	19	73
Net increase (decrease) in cash and cash equivalents	12,582	(313,844)
Cash and cash equivalents at beginning of period	55,236	521,812
Cash and cash equivalents at end of period	67,818	207,968
Non-cash investing and financing activities:
Vesting of restricted stock and early exercised stock options	133	1,547
Lease liabilities arising from obtaining right-of-use assets	10,665	0
Purchases of property and equipment not yet settled	$ 35	$ 584

Description of Business

Description of Business	3 Months Ended
Description of Business	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business	Description of BusinessNextdoor Holdings, Inc. (“Nextdoor” or the “Company”) is headquartered in San Francisco, California. Nextdoor’s purpose is to cultivate a kinder world where everyone has a neighborhood they can rely on. That purpose enables the Company’s mission to be the neighborhood hub for trusted connections and the exchange of helpful information, goods, and services.On November 5, 2021 (the “Closing”), the Company consummated the transactions contemplated by the Agreement and Plan of Merger, dated July 6, 2021, as amended on September 30, 2021, by and among Khosla Ventures Acquisition Co. II (“KVSB”), a special purpose acquisition company, Lorelei Merger Sub Inc., and Nextdoor, Inc. (“Legacy Nextdoor”), with Legacy Nextdoor surviving as a wholly owned subsidiary of KVSB (the “Merger” and, collectively with the other transactions that occurred in connection with the Merger, the “Reverse Recapitalization”). In connection with the Closing, KVSB was renamed to Nextdoor Holdings, Inc.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
Summary of Significant Accounting Policies	Mar. 31, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation The unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) and include the accounts of the Company and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. The Company’s fiscal year ends on December 31. The condensed consolidated balance sheet as of December 31, 2022 included herein was derived from the audited financial statements as of that date. The Company has condensed or omitted certain information and note disclosures normally included in financial statements prepared in accordance with GAAP pursuant to the applicable required disclosures and regulations of the U.S. Securities and Exchange Commission (“SEC”). As such, these unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the related notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022. In management’s opinion, the unaudited condensed consolidated financial statements have been prepared on the same basis as the annual financial statements and reflect all adjustments, which include only normal recurring adjustments necessary for the fair statement of the Company’s financial position, results of operations, and cash flows. The results for the interim periods presented are not necessarily indicative of the results to be expected for the full year ending December 31, 2023 or any other future interim or annual period. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the unaudited condensed consolidated financial statements and accompanying notes. Estimates include, but are not limited to, valuation of financial instruments, valuation of common stock through the date of the Reverse Recapitalization, valuation of stock-based awards, revenue recognition, collectability of accounts receivable, valuation of acquired intangible assets and goodwill, useful lives of intangible assets, useful lives of property and equipment, the incremental borrowing rate applied in lease accounting, income taxes and deferred income tax assets and associated valuation allowances. The Company bases these estimates and assumptions on historical experience and various other assumptions that it considers reasonable. The actual results could differ materially from these estimates. Significant Accounting Policies There have been no changes to the Company’s significant accounting policies disclosed in Note 2 to the consolidated financial statements described in the Company’s Annual Report on Form 10-K as of and for the year ended December 31, 2022 that have had a material impact on the Company’s condensed consolidated financial statements and related notes. Recently Adopted Accounting Pronouncements In June 2016, the FASB issued ASU 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments , and has since issued various amendments including ASU 2018-19, ASU 2019-04, and ASU 2019-05. The guidance and related amendments modify the accounting for credit losses for most financial assets and require the use of an expected loss model, replacing the currently used incurred loss method. Under this model, entities will be required to estimate the lifetime expected credit loss on such instruments and record an allowance to offset the amortized cost basis of the financial asset, resulting in a

Deferred Revenue

Deferred Revenue	3 Months Ended
Deferred Revenue	Mar. 31, 2023
Revenue from Contract with Customer [Abstract]
Deferred Revenue	Deferred RevenueIn certain advertising arrangements the Company requires payment upfront from its customers. The Company records deferred revenue when it collects cash from customers in advance of revenue recognition. As of March 31, 2023 and December 31, 2022, deferred revenue was $6.8 million and $6.0 million, respectively, and included within accrued expenses and other current liabilities on the condensed consolidated balance sheets. For the three months ended March 31, 2023 and 2022, revenue recognized from deferred revenue at the beginning of each period was $2.6 million and $2.9 million, respectively.Geographical Information Revenue disaggregated by geography based on the customers’ location was as follows (in thousands): Three Months Ended March 31, 2023 2022 United States $ 46,815 $ 48,861 International 2,956 2,139 Total $ 49,771 $ 51,000 Substantially all of the Company’s long-lived assets are located in the United States.

Cash Equivalents and Marketable

Cash Equivalents and Marketable Securities	3 Months Ended
Cash Equivalents and Marketable Securities	Mar. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Cash Equivalents and Marketable Securities	Cash Equivalents and Marketable Securities The amortized costs, unrealized gains and losses, and estimated fair values of the Company’s cash equivalents and marketable securities were as follows (in thousands): As of March 31, 2023 Amortized Unrealized Unrealized Estimated Cash equivalents: Money market funds $ 33,603 $ — $ — $ 33,603 Total cash equivalents 33,603 — — 33,603 Marketable securities: Certificates of deposit 46,087 1 (98) 45,990 Commercial paper 104,309 29 (74) 104,264 Corporate bonds 176,387 133 (1,282) 175,238 U.S. Treasury securities 61,344 296 (8) 61,632 U.S. Agency bonds 102,849 159 (14) 102,994 Asset-backed securities 16,950 10 (68) 16,892 Total marketable securities 507,926 628 (1,544) 507,010 Total $ 541,529 $ 628 $ (1,544) $ 540,613 As of December 31, 2022 Amortized Unrealized Unrealized Estimated Cash equivalents: Money market funds $ 20,381 $ — $ — $ 20,381 Corporate bonds 6,021 3 — $ 6,024 Commercial paper 9,394 — (3) $ 9,391 Total cash equivalents $ 35,796 $ 3 $ (3) $ 35,796 Marketable securities: Certificates of deposit 44,732 9 (191) $ 44,550 Commercial paper 100,909 27 (92) $ 100,844 Corporate bonds 280,023 11 (1,980) $ 278,054 U.S. Treasury securities 41,646 3 (123) $ 41,526 U.S. Agency bonds 46,366 66 (22) $ 46,410 Asset-backed securities 16,798 — (115) $ 16,683 Total marketable securities 530,474 116 (2,523) 528,067 Total $ 566,270 $ 119 $ (2,526) $ 563,863 All marketable securities are designated as available-for-sale securities as of March 31, 2023 and December 31, 2022. No investments had been in an unrealized loss position for greater than 12 months as of March 31, 2023 and December 31, 2022. The following tables present the contractual maturities of the Company’s marketable securities (in thousands): As of March 31, 2023 Amortized Cost Estimated Fair Value Due within one year $ 374,317 $ 373,432 Due after one to four years 133,608 133,578 Total $ 507,925 $ 507,010 As of December 31, 2022 Amortized Cost Estimated Fair Value Due within one year $ 473,133 $ 471,378 Due after one to four years 57,341 56,689 Total $ 530,474 $ 528,067

Fair Value Measurements

Fair Value Measurements	3 Months Ended
Fair Value Measurements	Mar. 31, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The Company’s financial assets and liabilities measured at fair value on a recurring basis are classified by level within the fair value hierarchy. There were no financial assets or liabilities measured using Level 3 inputs as of March 31, 2023 and December 31, 2022. The following table presents information about the Company’s financial assets that are measured at fair value on a recurring basis (in thousands): As of March 31, 2023 Level 1 Level 2 Total Cash equivalents: Money market funds $ 33,603 $ — $ 33,603 Total cash equivalents $ 33,603 $ — $ 33,603 Marketable securities: Certificates of deposit — 45,990 45,990 Commercial paper — 104,264 104,264 Corporate bonds — 175,238 175,238 U.S. Treasury securities — 61,632 61,632 U.S. Agency bonds — 102,994 102,994 Asset-backed securities — 16,892 16,892 Total marketable securities — 507,010 507,010 Total cash equivalents and marketable securities $ 33,603 $ 507,010 $ 540,613 As of December 31, 2022 Level 1 Level 2 Total Cash equivalents: Money market funds $ 20,381 $ — $ 20,381 Corporate bonds — 6,024 6,024 Commercial paper — 9,391 9,391 Total cash equivalents $ 20,381 $ 15,415 $ 35,796 Marketable securities: Certificates of deposit — 44,550 44,550 Commercial paper — 100,844 100,844 Corporate bonds — 278,054 278,054 U.S. Treasury securities — 41,526 41,526 U.S. Agency bonds — 46,410 46,410 Asset-backed securities — 16,683 16,683 Total marketable securities — 528,067 528,067 Total cash equivalents and marketable securities $ 20,381 $ 543,482 $ 563,863 The Company classifies its cash equivalents and marketable securities within Level 1 or Level 2 because it determines their fair values using quoted market prices or alternative pricing sources and models utilizing market observable inputs. There were no transfers between levels of the fair value hierarchy during the periods presented. Assets and Liabilities Measured at Fair Value on a Recurring Basis The carrying amounts of certain financial instruments, including cash held in banks, accounts receivable, and accounts payable approximate fair value due to their short-term maturities and are excluded from the fair value table above. Financial Instruments, Assets, and Liabilities Not Recorded at Fair Value The following table presents the fair value of assets not recorded at fair value (in thousands): As of March 31, 2023 Carrying Amount Level 1 Level 2 Level 3 Fair Value Assets Note receivable $ 5,000 $ — $ — $ 4,654 $ 4,654 As of December 31, 2022 Carrying Amount Level 1 Level 2 Level 3 Fair Value Assets Note receivable $ 5,000 $ — $ — $ 4,646 $ 4,646

Leases

Leases	3 Months Ended
Leases	Mar. 31, 2023
Leases [Abstract]
Leases	LeasesThe Company has entered into various non-cancellable office facility leases in various locations with original lease periods expiring between 2020 and 2029, with its primary office location in San Francisco, California. The Company entered into a lease consisting of multiple floors for its San Francisco headquarters in 2019, with a lease term through 2029. On January 30, 2023, the Company entered into a lease amendment for its headquarters lease. The lease amendment extended the lease term through April 30, 2032, and resulted in an increase to right-of-use assets and operating lease liabilities. The Company's lease agreements generally do not contain any material residual value guarantees or material restrictive covenants. The components of lease costs were as follows (in thousands): Three Months Ended March 31, 2023 2022 Operating lease cost $ 2,370 $ 2,445 Short-term lease cost 399 275 Variable lease cost 446 172 Total $ 3,215 $ 2,892 Other information related to the Company’s operating leases was as follows (in thousands): Three Months Ended March 31, 2023 2022 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 2,548 $ 2,474 ROU assets obtained in exchange for new operating lease liabilities $ 9,107 $ — Lease terms and discount rates for operating leases were as follows: As of March 31, 2023 2022 Weighted average remaining lease term (years) 9.1 7.1 Weighted average discount rate 7.1 % 4.5 % As of March 31, 2023, future minimum lease payments under operating leases were as follows (in thousands): Remainder of 2023 $ 7,798 2024 10,657 2025 10,977 2026 10,777 2027 10,586 Thereafter 44,391 Total lease payments 95,186 Less: imputed interest (24,412) Present value of lease liabilities 70,774 Less: current operating lease liabilities (5,660) Long-term operating lease liabilities $ 65,114 The table above does not include lease payments that were not fixed at commencement or lease modification.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Legal matters From time to time, the Company is a party to a variety of claims, lawsuits, and proceedings which arise in the ordinary course of business, including claims of alleged infringement of intellectual property rights. The Company records a liability when it believes that it is probable that a loss will be incurred and the amount of loss or range of loss can be reasonably estimated. The Company discloses potential losses when they are reasonably possible. In the Company’s opinion, resolution of pending matters is not likely to have a material adverse impact on its consolidated results of operations, cash flows, or its financial position. Given the unpredictable nature of legal proceedings, the Company bases its estimate on the information available at the time of the assessment. As additional information becomes available, the Company reassesses the potential liability and may revise the estimate. There were no such material matters as of March 31, 2023 and December 31, 2022. Indemnification In the ordinary course of business, the Company often includes standard indemnification provisions in its arrangements with its customers, partners, suppliers, and vendors. Pursuant to these provisions, the Company may be obligated to indemnify such parties for losses or claims suffered or incurred in connection with its service, breach of representations or covenants, intellectual property infringement, or other claims made against such parties. These provisions may limit the time within which an indemnification claim can be made. It is not possible to determine the maximum potential amount under these indemnification obligations due to the limited history of prior indemnification claims and the unique facts and circumstances involved in each particular agreement. For the three months ended March 31, 2023 and 2022, the Company did not incur material costs to defend lawsuits or settle claims related to these indemnifications. The Company believes the fair value of these liabilities is not material and accordingly has no liabilities recorded for these agreements as of March 31, 2023 and December 31, 2022. Opportunity Finance Network Loan Agreement

Common Stock, and Stockholders_

Common Stock, and Stockholders’ Equity	3 Months Ended
Common Stock, and Stockholders’ Equity	Mar. 31, 2023
Equity [Abstract]
Common Stock, and Stockholders’ Equity	Common Stock and Stockholders’ Equity Common Stock Subject to Repurchase Certain stock option grant agreements permit exercise prior to vesting. Upon termination of service of an employee, the Company has the right to repurchase any unvested, but issued, common stock at the original purchase price. The consideration received for an exercise of an option is accounted for as a deposit of the exercise price and is recorded as a liability. Upon vesting of the shares pursuant to the grant agreements, the shares and related liability are reclassified into stockholders’ equity (deficit). As of March 31, 2023 and December 31, 2022, the Company had less than $0.1 million and $0.2 million recorded in accrued expenses and other current liabilities related to 19,156 and 101,593 unvested shares of common stock subject to repurchase, respectively. Equity Incentive Plans 2021 Equity Incentive Plan In November 2021, the Company’s Board of Directors and stockholders approved the Company’s 2021 Equity Incentive Plan (the “2021 Plan”) as a successor to the 2018 Equity Incentive Plan (the “2018 Plan”), with the purpose of granting stock-based awards to employees, directors, officers, and consultants, including stock options, restricted stock awards, and restricted stock units (“RSUs”). 2021 Employee Stock Purchase Plan In November 2021, the Company’s Board of Directors and stockholders approved the Company’s 2021 Employee Stock Purchase Plan (the “2021 ESPP”). Over a series of offering periods, each of which may consist of one or more purchase periods, eligible employees will be offered the option to purchase shares of Class A common stock at 85% of the lesser of the fair market value of Class A common stock on (i) the first business day of the applicable offering period and (ii) the date of purchase. Under the 2021 ESPP, the Company initially reserved 8,901,159 shares of Class A common stock for issuance, and the aggregate number of shares reserved will increase automatically on January 1 of each of 2022 through 2031 by the number of shares equal to the lesser of (i) one percent (1%) of the total number of outstanding shares of Class A common stock and Class B common stock as of the immediately preceding December 31, or (ii) a number of shares as may be determined by the Company’s Board of Directors. The aggregate number of shares issued over the term of the 2021 ESPP, subject to adjustments for stock-splits, recapitalizations, or similar events, may not exceed 89,011,590 shares. In February 2022, the Company commenced its first offering period under the 2021 ESPP. During the three months ended March 31, 2023, 559,707 shares of Class A common stock were purchased under the 2021 ESPP. Share Repurchase Program On May 31, 2022, the Company’s Board of Directors authorized and approved a share repurchase program (the “Share Repurchase Program”) to repurchase up to $100.0 million in aggregate of the Company’s Class A common stock, with the authorization to expire on June 30, 2024. Repurchases of Class A common stock under the Share Repurchase Program may be made from time to time, on the open market, in privately negotiated transactions or by other methods, and in accordance with the limitations set forth in Rule 10b-18 promulgated under the Securities Exchange Act of 1934, as amended, and other applicable legal requirements. The timing of any repurchases will depend on market conditions and other investment opportunities, and will be made at the Company’s discretion. The Company currently anticipates that the Share Repurchase Program will extend through June 30, 2024, or such shorter period if $100.0 million in aggregate of shares of the Company’s Class A common stock have been repurchased. The Share Repurchase Program does not obligate the Company to repurchase any dollar amount or number of shares, and the program may be extended, modified, suspended, or discontinued at any time. When the Company repurchases shares under the Share Repurchase Program, it reduces the common stock component of stockholders’ equity by the par value of the repurchased shares. The excess of the repurchase price over par value is recorded to additional paid-in capital. All repurchased shares are retired and become authorized and unissued shares. During the three months ended March 31, 2023, the Company did not repurchase or retire any shares of its Class A common stock. As of March 31, 2023, the Company had $22.8 million available for future share repurchases under the Share Repurchase Program. Stock Options and RSUs The Company may grant options to acquire shares of Class A common stock to employees, directors, officers, and consultants at a price not less than the fair market value of the shares at the date of grant. Options granted to a person who, at the time of the grant, owns more than 10% of the voting power of all classes of stock shall be at no less than 110% of the fair market value and expire five years from the date of grant. All other options generally have a contractual term of ten years. Options granted generally vest on a monthly basis over three three A summary of the Company’s stock option activity for the three months ended March 31, 2023 and related information is as follows (in thousands, except per share data): Number of Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term (years) Aggregate Intrinsic Value Outstanding at December 31, 2022 55,388 $ 2.67 7.5 $ 10,552 Options granted 733 $ 1.91 Options exercised (297) $ 1.81 Options forfeited or expired (1,415) $ 2.70 Outstanding at March 31, 2023 54,409 $ 2.67 7.3 $ 11,638 Exercisable at March 31, 2023 31,193 $ 2.09 6.1 $ 11,366 Vested or expected to vest at March 31, 2023 54,429 $ 2.67 7.3 $ 11,638 The intrinsic value is calculated as the difference between the exercise price of the underlying common stock option award and the fair value of the Company’s common stock as of the respective balance sheet date. The weighted average grant date fair value of options granted was $1.21 per share and $3.28 per share during the three months ended March 31, 2023 and 2022, respectively. The intrinsic value of the options exercised was $0.2 million and $9.8 million for the three months ended March 31, 2023 and 2022, respectively. thousands, except per share data): Number of Shares Weighted Average Grant Date Fair Value Unvested at December 31, 2022 21,986 $ 4.25 RSUs granted 5,581 $ 2.06 RSUs vested (1,935) $ 4.07 RSUs forfeited (1,218) $ 4.60 Unvested at March 31, 2023 24,414 $ 3.74 Valuation Assumptions The following assumptions were used to calculate the fair value of employee and non-employee stock option grants made during the following periods: Three Months Ended March 31, 2023 2022 Expected volatility 66.7% - 66.8% 53.9% -55.6% Expected term (years) 5.9 6.1 Risk-free interest rate 4.2% 2.5% Expected dividend yield — — Fair value of common stock per share $1.91 $5.58 - $6.06 Stock-Based Compensation The Company recorded stock-based compensation expense in the condensed consolidated statements of operations as follows (in thousands): Three Months Ended March 31, 2023 2022 Cost of revenue $ 630 $ 455 Research and development 8,457 6,635 Sales and marketing 2,433 1,996 General and administrative 4,296 3,058 Total $ 15,816 $ 12,144 As of March 31, 2023, there was $151.6 million of unrecognized stock-based compensation expense, which is expected to be recognized over a weighted average period of 2.1 years.

Net Loss Per Share Attributable

Net Loss Per Share Attributable to Common Stockholders	3 Months Ended
Net Loss Per Share Attributable to Common Stockholders	Mar. 31, 2023
Earnings Per Share [Abstract]
Net Loss Per Share Attributable to Common Stockholders	Net Loss Per Share Attributable to Common Stockholders The following table sets forth the computation of basic and diluted net loss per share attributable to common stockholders (in thousands, except per share data): Three Months Ended March 31, 2023 2022 Class A Class B Class A Class B Net loss attributable to common stockholders $ (14,083) $ (19,633) $ (6,814) $ (26,134) Weighted average shares used in computing net loss per share attributable to Class A and Class B common stockholders, basic and diluted 155,807 217,218 78,980 302,897 Net loss per share attributable to Class A and Class B common stockholders, basic and diluted $ (0.09) $ (0.09) $ (0.09) $ (0.09) The following potentially dilutive securities outstanding have been excluded from the computations of diluted net loss per share because such securities have an anti-dilutive impact due to losses reported (in thousands): As of March 31, 2023 2022 Outstanding stock options 54,409 59,911 Unvested RSUs 24,414 4,290 Unvested early exercised stock options subject to repurchase 19 349 Unvested restricted stock — 2,247 Shares issuable pursuant to the ESPP 2,372 2,390 Contingently issuable shares 7 9 Total 81,221 69,196

Income Taxes

Income Taxes	3 Months Ended
Income Taxes	Mar. 31, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company’s provision for income taxes for interim periods was determined using an estimate of its annual effective tax rate, adjusted for discrete items, if any, that arose during the period. Each quarter, the Company updates its estimate of the annual effective tax rate, and if the estimated annual effective tax rate changes, the Company makes a cumulative adjustment in such period. The Company’s quarterly tax provision, and estimate of its annual effective tax rate, is subject to variation due to several factors, including variability in pretax income or loss, the mix of jurisdictions to which such income or loss relates, tax law developments and changes in how the Company does business, such as acquisitions, intercompany transactions, or the Company’s corporate structure.

Geographical Information

Geographical Information	3 Months Ended
Geographical Information	Mar. 31, 2023
Revenue from Contract with Customer [Abstract]
Geographical Information	Deferred RevenueIn certain advertising arrangements the Company requires payment upfront from its customers. The Company records deferred revenue when it collects cash from customers in advance of revenue recognition. As of March 31, 2023 and December 31, 2022, deferred revenue was $6.8 million and $6.0 million, respectively, and included within accrued expenses and other current liabilities on the condensed consolidated balance sheets. For the three months ended March 31, 2023 and 2022, revenue recognized from deferred revenue at the beginning of each period was $2.6 million and $2.9 million, respectively.Geographical Information Revenue disaggregated by geography based on the customers’ location was as follows (in thousands): Three Months Ended March 31, 2023 2022 United States $ 46,815 $ 48,861 International 2,956 2,139 Total $ 49,771 $ 51,000 Substantially all of the Company’s long-lived assets are located in the United States.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
Summary of Significant Accounting Policies (Policies)	Mar. 31, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) and include the accounts of the Company and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. The Company’s fiscal year ends on December 31. The condensed consolidated balance sheet as of December 31, 2022 included herein was derived from the audited financial statements as of that date. The Company has condensed or omitted certain information and note disclosures normally included in financial statements prepared in accordance with GAAP pursuant to the applicable required disclosures and regulations of the U.S. Securities and Exchange Commission (“SEC”). As such, these unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the related notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the unaudited condensed consolidated financial statements and accompanying notes. Estimates include, but are not limited to, valuation of financial instruments, valuation of common stock through the date of the Reverse Recapitalization, valuation of stock-based awards, revenue recognition, collectability of accounts receivable, valuation of acquired intangible assets and goodwill, useful lives of intangible assets, useful lives of property and equipment, the incremental borrowing rate applied in lease accounting, income taxes and deferred income tax assets and associated valuation allowances. The Company bases these estimates and assumptions on historical experience and various other assumptions that it considers reasonable. The actual results could differ materially from these estimates.
Significant Accounting Policies and Recently Adopted Accounting Pronouncements	Significant Accounting Policies There have been no changes to the Company’s significant accounting policies disclosed in Note 2 to the consolidated financial statements described in the Company’s Annual Report on Form 10-K as of and for the year ended December 31, 2022 that have had a material impact on the Company’s condensed consolidated financial statements and related notes. Recently Adopted Accounting Pronouncements In June 2016, the FASB issued ASU 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments , and has since issued various amendments including ASU 2018-19, ASU 2019-04, and ASU 2019-05. The guidance and related amendments modify the accounting for credit losses for most financial assets and require the use of an expected loss model, replacing the currently used incurred loss method. Under this model, entities will be required to estimate the lifetime expected credit loss on such instruments and record an allowance to offset the amortized cost basis of the financial asset, resulting in a

Cash Equivalents and Marketab_2

Cash Equivalents and Marketable Securities (Tables)	3 Months Ended
Cash Equivalents and Marketable Securities (Tables)	Mar. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Schedule of Cash and Cash Equivalents	The amortized costs, unrealized gains and losses, and estimated fair values of the Company’s cash equivalents and marketable securities were as follows (in thousands): As of March 31, 2023 Amortized Unrealized Unrealized Estimated Cash equivalents: Money market funds $ 33,603 $ — $ — $ 33,603 Total cash equivalents 33,603 — — 33,603 Marketable securities: Certificates of deposit 46,087 1 (98) 45,990 Commercial paper 104,309 29 (74) 104,264 Corporate bonds 176,387 133 (1,282) 175,238 U.S. Treasury securities 61,344 296 (8) 61,632 U.S. Agency bonds 102,849 159 (14) 102,994 Asset-backed securities 16,950 10 (68) 16,892 Total marketable securities 507,926 628 (1,544) 507,010 Total $ 541,529 $ 628 $ (1,544) $ 540,613 As of December 31, 2022 Amortized Unrealized Unrealized Estimated Cash equivalents: Money market funds $ 20,381 $ — $ — $ 20,381 Corporate bonds 6,021 3 — $ 6,024 Commercial paper 9,394 — (3) $ 9,391 Total cash equivalents $ 35,796 $ 3 $ (3) $ 35,796 Marketable securities: Certificates of deposit 44,732 9 (191) $ 44,550 Commercial paper 100,909 27 (92) $ 100,844 Corporate bonds 280,023 11 (1,980) $ 278,054 U.S. Treasury securities 41,646 3 (123) $ 41,526 U.S. Agency bonds 46,366 66 (22) $ 46,410 Asset-backed securities 16,798 — (115) $ 16,683 Total marketable securities 530,474 116 (2,523) 528,067 Total $ 566,270 $ 119 $ (2,526) $ 563,863
Schedule of Marketable Securities	The amortized costs, unrealized gains and losses, and estimated fair values of the Company’s cash equivalents and marketable securities were as follows (in thousands): As of March 31, 2023 Amortized Unrealized Unrealized Estimated Cash equivalents: Money market funds $ 33,603 $ — $ — $ 33,603 Total cash equivalents 33,603 — — 33,603 Marketable securities: Certificates of deposit 46,087 1 (98) 45,990 Commercial paper 104,309 29 (74) 104,264 Corporate bonds 176,387 133 (1,282) 175,238 U.S. Treasury securities 61,344 296 (8) 61,632 U.S. Agency bonds 102,849 159 (14) 102,994 Asset-backed securities 16,950 10 (68) 16,892 Total marketable securities 507,926 628 (1,544) 507,010 Total $ 541,529 $ 628 $ (1,544) $ 540,613 As of December 31, 2022 Amortized Unrealized Unrealized Estimated Cash equivalents: Money market funds $ 20,381 $ — $ — $ 20,381 Corporate bonds 6,021 3 — $ 6,024 Commercial paper 9,394 — (3) $ 9,391 Total cash equivalents $ 35,796 $ 3 $ (3) $ 35,796 Marketable securities: Certificates of deposit 44,732 9 (191) $ 44,550 Commercial paper 100,909 27 (92) $ 100,844 Corporate bonds 280,023 11 (1,980) $ 278,054 U.S. Treasury securities 41,646 3 (123) $ 41,526 U.S. Agency bonds 46,366 66 (22) $ 46,410 Asset-backed securities 16,798 — (115) $ 16,683 Total marketable securities 530,474 116 (2,523) 528,067 Total $ 566,270 $ 119 $ (2,526) $ 563,863
Schedule of Investments Classified by Contractual Maturity Date	The following tables present the contractual maturities of the Company’s marketable securities (in thousands): As of March 31, 2023 Amortized Cost Estimated Fair Value Due within one year $ 374,317 $ 373,432 Due after one to four years 133,608 133,578 Total $ 507,925 $ 507,010 As of December 31, 2022 Amortized Cost Estimated Fair Value Due within one year $ 473,133 $ 471,378 Due after one to four years 57,341 56,689 Total $ 530,474 $ 528,067

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
Fair Value Measurements (Tables)	Mar. 31, 2023
Fair Value Disclosures [Abstract]
Schedule of Fair Value on Recurring Basis	The following table presents information about the Company’s financial assets that are measured at fair value on a recurring basis (in thousands): As of March 31, 2023 Level 1 Level 2 Total Cash equivalents: Money market funds $ 33,603 $ — $ 33,603 Total cash equivalents $ 33,603 $ — $ 33,603 Marketable securities: Certificates of deposit — 45,990 45,990 Commercial paper — 104,264 104,264 Corporate bonds — 175,238 175,238 U.S. Treasury securities — 61,632 61,632 U.S. Agency bonds — 102,994 102,994 Asset-backed securities — 16,892 16,892 Total marketable securities — 507,010 507,010 Total cash equivalents and marketable securities $ 33,603 $ 507,010 $ 540,613 As of December 31, 2022 Level 1 Level 2 Total Cash equivalents: Money market funds $ 20,381 $ — $ 20,381 Corporate bonds — 6,024 6,024 Commercial paper — 9,391 9,391 Total cash equivalents $ 20,381 $ 15,415 $ 35,796 Marketable securities: Certificates of deposit — 44,550 44,550 Commercial paper — 100,844 100,844 Corporate bonds — 278,054 278,054 U.S. Treasury securities — 41,526 41,526 U.S. Agency bonds — 46,410 46,410 Asset-backed securities — 16,683 16,683 Total marketable securities — 528,067 528,067 Total cash equivalents and marketable securities $ 20,381 $ 543,482 $ 563,863
Schedule of Financial Instruments, Assets, and Liabilities Not Recorded at Fair Value	The following table presents the fair value of assets not recorded at fair value (in thousands): As of March 31, 2023 Carrying Amount Level 1 Level 2 Level 3 Fair Value Assets Note receivable $ 5,000 $ — $ — $ 4,654 $ 4,654 As of December 31, 2022 Carrying Amount Level 1 Level 2 Level 3 Fair Value Assets Note receivable $ 5,000 $ — $ — $ 4,646 $ 4,646

Leases (Tables)

Leases (Tables)	3 Months Ended
Leases (Tables)	Mar. 31, 2023
Leases [Abstract]
Schedule of Components of Lease Costs, Other Information, and Lease Terms and Discount Rates	The components of lease costs were as follows (in thousands): Three Months Ended March 31, 2023 2022 Operating lease cost $ 2,370 $ 2,445 Short-term lease cost 399 275 Variable lease cost 446 172 Total $ 3,215 $ 2,892 Other information related to the Company’s operating leases was as follows (in thousands): Three Months Ended March 31, 2023 2022 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 2,548 $ 2,474 ROU assets obtained in exchange for new operating lease liabilities $ 9,107 $ — Lease terms and discount rates for operating leases were as follows: As of March 31, 2023 2022 Weighted average remaining lease term (years) 9.1 7.1 Weighted average discount rate 7.1 % 4.5 %
Schedule of Future Minimum Lease Payments under Operating Leases	As of March 31, 2023, future minimum lease payments under operating leases were as follows (in thousands): Remainder of 2023 $ 7,798 2024 10,657 2025 10,977 2026 10,777 2027 10,586 Thereafter 44,391 Total lease payments 95,186 Less: imputed interest (24,412) Present value of lease liabilities 70,774 Less: current operating lease liabilities (5,660) Long-term operating lease liabilities $ 65,114

Common Stock, and Stockholder_2

Common Stock, and Stockholders’ Equity (Tables)	3 Months Ended
Common Stock, and Stockholders’ Equity (Tables)	Mar. 31, 2023
Equity [Abstract]
Schedule of Stock Option Activity	A summary of the Company’s stock option activity for the three months ended March 31, 2023 and related information is as follows (in thousands, except per share data): Number of Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term (years) Aggregate Intrinsic Value Outstanding at December 31, 2022 55,388 $ 2.67 7.5 $ 10,552 Options granted 733 $ 1.91 Options exercised (297) $ 1.81 Options forfeited or expired (1,415) $ 2.70 Outstanding at March 31, 2023 54,409 $ 2.67 7.3 $ 11,638 Exercisable at March 31, 2023 31,193 $ 2.09 6.1 $ 11,366 Vested or expected to vest at March 31, 2023 54,429 $ 2.67 7.3 $ 11,638
Schedule of Restricted Stock Unit Activity	A summary of the Company’s RSU activity for the three months ended March 31, 2023 and related information is as follows (in thousands, except per share data): Number of Shares Weighted Average Grant Date Fair Value Unvested at December 31, 2022 21,986 $ 4.25 RSUs granted 5,581 $ 2.06 RSUs vested (1,935) $ 4.07 RSUs forfeited (1,218) $ 4.60 Unvested at March 31, 2023 24,414 $ 3.74
Schedule of Assumptions Used to Calculate Fair Value of Stock Option Grants	The following assumptions were used to calculate the fair value of employee and non-employee stock option grants made during the following periods: Three Months Ended March 31, 2023 2022 Expected volatility 66.7% - 66.8% 53.9% -55.6% Expected term (years) 5.9 6.1 Risk-free interest rate 4.2% 2.5% Expected dividend yield — — Fair value of common stock per share $1.91 $5.58 - $6.06
Schedule of Stock-based Compensation Expense	The Company recorded stock-based compensation expense in the condensed consolidated statements of operations as follows (in thousands): Three Months Ended March 31, 2023 2022 Cost of revenue $ 630 $ 455 Research and development 8,457 6,635 Sales and marketing 2,433 1,996 General and administrative 4,296 3,058 Total $ 15,816 $ 12,144

Net Loss Per Share Attributab_2

Net Loss Per Share Attributable to Common Stockholders (Tables)	3 Months Ended
	Mar. 31, 2023
Earnings Per Share [Abstract]
Schedule of Earnings Per Share	The following table sets forth the computation of basic and diluted net loss per share attributable to common stockholders (in thousands, except per share data): Three Months Ended March 31, 2023 2022 Class A Class B Class A Class B Net loss attributable to common stockholders $ (14,083) $ (19,633) $ (6,814) $ (26,134) Weighted average shares used in computing net loss per share attributable to Class A and Class B common stockholders, basic and diluted 155,807 217,218 78,980 302,897 Net loss per share attributable to Class A and Class B common stockholders, basic and diluted $ (0.09) $ (0.09) $ (0.09) $ (0.09)
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The following potentially dilutive securities outstanding have been excluded from the computations of diluted net loss per share because such securities have an anti-dilutive impact due to losses reported (in thousands): As of March 31, 2023 2022 Outstanding stock options 54,409 59,911 Unvested RSUs 24,414 4,290 Unvested early exercised stock options subject to repurchase 19 349 Unvested restricted stock — 2,247 Shares issuable pursuant to the ESPP 2,372 2,390 Contingently issuable shares 7 9 Total 81,221 69,196

Geographical Information (Table

Geographical Information (Tables)	3 Months Ended
Geographical Information (Tables)	Mar. 31, 2023
Revenue from Contract with Customer [Abstract]
Schedule of Revenue Disaggregated by Geography	Revenue disaggregated by geography based on the customers’ location was as follows (in thousands): Three Months Ended March 31, 2023 2022 United States $ 46,815 $ 48,861 International 2,956 2,139 Total $ 49,771 $ 51,000

Deferred Revenue (Details)

Deferred Revenue (Details) - USD ($) $ in Millions	3 Months Ended
Deferred Revenue (Details) - USD ($) $ in Millions	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Deferred revenue	$ 6.8		$ 6
Revenue recognized from contract with customer	$ 2.6	$ 2.9

Cash Equivalents and Marketab_3

Cash Equivalents and Marketable Securities - Amortized Cost, Unrealized Gains and Losses, and Estimated Fair Values (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Cash equivalents:
Amortized Cost	$ 33,603	$ 35,796
Unrealized Gain	0	3
Unrealized Loss	0	(3)
Estimated Fair Value	33,603	35,796
Marketable securities:
Amortized Cost	507,926	530,474
Unrealized Gain	628	116
Unrealized Loss	(1,544)	(2,523)
Estimated Fair Value	507,010	528,067
Total
Amortized Cost	541,529	566,270
Unrealized Gain	628	119
Unrealized Loss	(1,544)	(2,526)
Estimated Fair Value	540,613	563,863
Certificates of deposit
Marketable securities:
Amortized Cost	46,087	44,732
Unrealized Gain	1	9
Unrealized Loss	(98)	(191)
Estimated Fair Value	45,990	44,550
Commercial paper
Marketable securities:
Amortized Cost	104,309	100,909
Unrealized Gain	29	27
Unrealized Loss	(74)	(92)
Estimated Fair Value	104,264	100,844
Corporate bonds
Marketable securities:
Amortized Cost	176,387	280,023
Unrealized Gain	133	11
Unrealized Loss	(1,282)	(1,980)
Estimated Fair Value	175,238	278,054
U.S. Treasury securities
Marketable securities:
Amortized Cost	61,344	41,646
Unrealized Gain	296	3
Unrealized Loss	(8)	(123)
Estimated Fair Value	61,632	41,526
U.S. Agency bonds
Marketable securities:
Amortized Cost	102,849	46,366
Unrealized Gain	159	66
Unrealized Loss	(14)	(22)
Estimated Fair Value	102,994	46,410
Asset-backed securities
Marketable securities:
Amortized Cost	16,950	16,798
Unrealized Gain	10	0
Unrealized Loss	(68)	(115)
Estimated Fair Value	16,892	16,683
Money market funds
Cash equivalents:
Amortized Cost	33,603	20,381
Unrealized Gain	0	0
Unrealized Loss	0	0
Estimated Fair Value	$ 33,603	20,381
Corporate bonds
Cash equivalents:
Amortized Cost		6,021
Unrealized Gain		3
Unrealized Loss		0
Estimated Fair Value		6,024
Commercial paper
Cash equivalents:
Amortized Cost		9,394
Unrealized Gain		0
Unrealized Loss		(3)
Estimated Fair Value		$ 9,391

Cash Equivalents and Marketab_4

Cash Equivalents and Marketable Securities - Maturities of Marketable Securities (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Amortized Cost
Due within one year	$ 374,317
Due after one to four years	133,608
Total	507,925	$ 530,474
Estimated Fair Value
Due within one year	373,432
Due after one to four years	133,578
Total	507,010	528,067
Amortized Cost
Due within one year		473,133
Due after one to four years		57,341
Total	507,925	530,474
Estimated Fair Value
Due within one year		471,378
Due after one to four years		56,689
Total	$ 507,010	$ 528,067

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - Fair Value, Recurring - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	$ 540,613,000	$ 563,863,000
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	0	0
Financial liabilities	$ 0	$ 0

Fair Value Measurements - Finan

Fair Value Measurements - Financial Assets (Details) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	$ 33,603,000	$ 35,796,000
Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	33,603,000	20,381,000
Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents		6,024,000
Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents		9,391,000
Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	33,603,000	35,796,000
Marketable securities	507,010,000	528,067,000
Total cash equivalents and marketable securities	540,613,000	563,863,000
Fair Value, Recurring \| Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	45,990,000	44,550,000
Fair Value, Recurring \| Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	104,264,000	100,844,000
Fair Value, Recurring \| Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	175,238,000	278,054,000
Fair Value, Recurring \| U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	61,632,000	41,526,000
Fair Value, Recurring \| U.S. Agency bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	102,994,000	46,410,000
Fair Value, Recurring \| Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	16,892,000	16,683,000
Fair Value, Recurring \| Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	33,603,000	20,381,000
Fair Value, Recurring \| Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents		6,024,000
Fair Value, Recurring \| Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents		9,391,000
Level 1 \| Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	33,603,000	20,381,000
Marketable securities	0	0
Total cash equivalents and marketable securities	33,603,000	20,381,000
Level 1 \| Fair Value, Recurring \| Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Level 1 \| Fair Value, Recurring \| Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Level 1 \| Fair Value, Recurring \| Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Level 1 \| Fair Value, Recurring \| U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Level 1 \| Fair Value, Recurring \| U.S. Agency bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Level 1 \| Fair Value, Recurring \| Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Level 1 \| Fair Value, Recurring \| Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	33,603,000	20,381,000
Level 1 \| Fair Value, Recurring \| Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents		0
Level 1 \| Fair Value, Recurring \| Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents		0
Level 2 \| Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	15,415,000
Marketable securities	507,010,000	528,067,000
Total cash equivalents and marketable securities	507,010,000	543,482,000
Level 2 \| Fair Value, Recurring \| Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	45,990,000	44,550,000
Level 2 \| Fair Value, Recurring \| Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	104,264,000	100,844,000
Level 2 \| Fair Value, Recurring \| Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	175,238,000	278,054,000
Level 2 \| Fair Value, Recurring \| U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	61,632,000	41,526,000
Level 2 \| Fair Value, Recurring \| U.S. Agency bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	102,994,000	46,410,000
Level 2 \| Fair Value, Recurring \| Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	16,892,000	16,683,000
Level 2 \| Fair Value, Recurring \| Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Level 2 \| Fair Value, Recurring \| Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents		6,024,000
Level 2 \| Fair Value, Recurring \| Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents		9,391,000
Level 3 \| Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents and marketable securities	$ 0	$ 0

Fair Value Measurements - Fin_2

Fair Value Measurements - Financial Instruments, Assets, and Liabilities Not Recorded at Fair Value (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Note receivable	$ 0	$ 0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Note receivable	0	0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Note receivable	4,654	4,646
Carrying Amount
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Note receivable	5,000	5,000
Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Note receivable	$ 4,654	$ 4,646

Leases - Lease Cost (Details)

Leases - Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended
Leases - Lease Cost (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Leases [Abstract]
Operating lease cost	$ 2,370	$ 2,445
Short-term lease cost	399	275
Variable lease cost	446	172
Total	$ 3,215	$ 2,892

Leases - Other Lease Informatio

Leases - Other Lease Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Leases [Abstract]
Operating cash flows from operating leases	$ 2,548	$ 2,474
ROU assets obtained in exchange for new operating lease liabilities	$ 9,107	$ 0
Weighted average remaining lease term (years)	9 years 1 month 6 days	7 years 1 month 6 days
Weighted average discount rate (as a percent)	7.10%	4.50%

Leases - Future Minimum Lease P

Leases - Future Minimum Lease Payments (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Remainder of 2023	$ 7,798
2024	10,657
2025	10,977
2026	10,777
2027	10,586
Thereafter	44,391
Total lease payments	95,186
Less: imputed interest	(24,412)
Present value of lease liabilities	70,774
Less: current operating lease liabilities	(5,660)	$ (7,766)
Long-term operating lease liabilities	$ 65,114	$ 53,831

Commitments and Contingencies (

Commitments and Contingencies (Details) - Opportunity Finance Network $ in Millions		3 Months Ended	12 Months Ended
	Jun. 29, 2022 USD ($)	Mar. 31, 2023 USD ($)	Dec. 31, 2022 USD ($) disbursement
Other Commitments [Line Items]
Loans agreement, maximum lending capacity	$ 15
Loan agreement, lending grand, terms	24 months
Loan agreement, increments borrowing amount	$ 2
Fixed interest rate	0.75%
Loan agreement, terms	10 years
Number of loan disbursement \| disbursement			1
Loan disbursement		$ 0	$ 5
Maximum
Other Commitments [Line Items]
Loan agreement, increments borrowing amount	$ 7.5

Common Stock, and Stockholder_3

Common Stock, and Stockholders’ Equity - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended	3 Months Ended
	Nov. 30, 2021	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	May 31, 2022
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Current liability related to common stock subject to repurchase		$ 0.1		$ 0.2
Unvested shares of common stock subject to repurchase (in shares)		19,156		101,593
Options granted, weighted average grant date fair value (in USD per share)		$ 1.21	$ 3.28
Intrinsic value of options exercised		$ 0.2	$ 9.8
Options granted (in shares)		733,000
Unrecognized stock-based compensation expense		$ 151.6
Unrecognized stock-based compensation expense, expected period of recognition		2 years 1 month 6 days
Class A Common Stock
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock repurchase program, authorized amount					$ 100
Stock repurchase program, remaining authorized repurchase amount		$ 22.8
Outstanding stock options
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Minimum threshold of voting power (as a percent)		10%
Minimum proportion of fair market value of stock options granted to grantees that own more than 10% of voting power (as a percent)		110%
Expiration period		10 years
Outstanding stock options \| Minimum
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Vesting period		3 years
Outstanding stock options \| Maximum
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Vesting period		4 years
Stock Options - Grantees Owning >10% of Voting Power
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Expiration period		5 years
Unvested RSUs \| Class A Common Stock \| Minimum
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Vesting period		3 years
Unvested RSUs \| Class A Common Stock \| Maximum
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Vesting period		4 years
The 2021 Plan
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Shares reserved for issuance (in shares)		46,008,885
Increase in number of stock available for grant as a proportion of common stock outstanding (as a percent)		5%
The 2021 Plan \| Class A Common Stock
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Common stock purchased (in shares)		559,707
The 2021 Plan \| ESPP \| Class A Common Stock
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Shares reserved for issuance (in shares)	8,901,159
ESPP, purchase price as proportion of common stock price (as a percent)	85%
The 2021 Plan \| ESPP \| Class B Common Stock
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Shares reserved for issuance (in shares)	89,011,590
Increase in number of stock available for grant as a proportion of common stock outstanding (as a percent)	1%

Common Stock, and Stockholder_4

Common Stock, and Stockholders’ Equity - Stock Option Activity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Number of Options
Beginning balance (in shares)	55,388
Options granted (in shares)	733
Options exercised (in shares)	(297)
Options forfeited or expired (in shares)	(1,415)
Ending balance (in shares)	54,409	55,388
Exercisable (in shares)	31,193
Vested or expected to vest (in shares)	54,429
Weighted Average Exercise Price
Beginning balance (in USD per share)	$ 2.67
Options granted (in USD per share)	1.91
Options exercised (in USD per share)	1.81
Options forfeited and expired (in USD per share)	2.70
Ending balance (in USD per share)	2.67	$ 2.67
Exercisable (in USD per share)	2.09
Vested or expected to vest (in USD per share)	$ 2.67
Additional Disclosures
Options outstanding, weighted average remaining contractual term (years)	7 years 3 months 18 days	7 years 6 months
Exercisable, weighted average remaining contractual term (years)	6 years 1 month 6 days
Vested or expected to vest (years)	7 years 3 months 18 days
Options outstanding, aggregate intrinsic value	$ 11,638	$ 10,552
Exercisable, aggregate intrinsic value	11,366
Vested or expected to vest, aggregate intrinsic value	$ 11,638

Common Stock, and Stockholder_5

Common Stock, and Stockholders’ Equity - Restricted Stock Units (Details) - Restricted Stock Units shares in Thousands	3 Months Ended
	Mar. 31, 2023 $ / shares shares
Number of Shares
Beginning balance (in shares) \| shares	21,986
RSUs granted (in shares) \| shares	5,581
RSUs vested (in shares) \| shares	(1,935)
RSUs forfeited (in shares) \| shares	(1,218)
Ending balance (in shares) \| shares	24,414
Weighted Average Grant Date Fair Value
Beginning balance (in USD per share) \| $ / shares	$ 4.25
RSUs granted (in USD per share) \| $ / shares	2.06
RSUs vested (in USD per share) \| $ / shares	4.07
RSUs forfeited (in USD per share) \| $ / shares	4.60
Ending balance (in USD per share) \| $ / shares	$ 3.74

Common Stock, and Stockholder_6

Common Stock, and Stockholders’ Equity - Fair Value Assumptions (Details) - Employee and Non-employee Stock Option - $ / shares	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility, minimum (as a percent)	66.70%	53.90%
Expected volatility, maximum (as a percent)	66.80%	55.60%
Expected term (years)	5 years 10 months 24 days	6 years 1 month 6 days
Risk-free interest rate (as a percent)	4.20%	2.50%
Expected dividend yield (as a percent)	0%	0%
Fair value of common stock per share (in USD per share)	$ 1.91
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of common stock per share (in USD per share)		$ 5.58
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of common stock per share (in USD per share)		$ 6.06

Common Stock, and Stockholder_7

Common Stock, and Stockholders’ Equity - Stock-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	$ 15,816	$ 12,144
Cost of revenue
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	630	455
Research and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	8,457	6,635
Sales and marketing
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	2,433	1,996
General and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	$ 4,296	$ 3,058

Net Loss Per Share Attributab_3

Net Loss Per Share Attributable to Common Stockholders - Computation of Basic and Diluted Net Loss Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Weighted average shares used in computing net loss per share attributable to Class A and Class B common stockholders, basic (in shares)	373,025	381,877
Weighted average shares used in computing net loss per share attributable to Class A and Class B common stockholders, diluted (in shares)	373,025	381,877
Net loss per share attributable to Class A and Class B common stockholders, basic (in USD per share)	$ (0.09)	$ (0.09)
Net loss per share attributable to Class A and Class B common stockholders, diluted (in USD per share)	$ (0.09)	$ (0.09)
Class A Common Stock
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Net loss attributable to common stockholders, Basic	$ (14,083)	$ (6,814)
Net loss attributable to common stockholders, diluted	$ (14,083)	$ (6,814)
Weighted average shares used in computing net loss per share attributable to Class A and Class B common stockholders, basic (in shares)	155,807	78,980
Weighted average shares used in computing net loss per share attributable to Class A and Class B common stockholders, diluted (in shares)	155,807	78,980
Net loss per share attributable to Class A and Class B common stockholders, basic (in USD per share)	$ (0.09)	$ (0.09)
Net loss per share attributable to Class A and Class B common stockholders, diluted (in USD per share)	$ (0.09)	$ (0.09)
Class B Common Stock
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Net loss attributable to common stockholders, Basic	$ (19,633)	$ (26,134)
Net loss attributable to common stockholders, diluted	$ (19,633)	$ (26,134)
Weighted average shares used in computing net loss per share attributable to Class A and Class B common stockholders, basic (in shares)	217,218	302,897
Weighted average shares used in computing net loss per share attributable to Class A and Class B common stockholders, diluted (in shares)	217,218	302,897
Net loss per share attributable to Class A and Class B common stockholders, basic (in USD per share)	$ (0.09)	$ (0.09)
Net loss per share attributable to Class A and Class B common stockholders, diluted (in USD per share)	$ (0.09)	$ (0.09)

Net Loss Per Share Attributab_4

Net Loss Per Share Attributable to Common Stockholders - Potentially Dilutive Securities Outstanding (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (in shares)	81,221	69,196
Outstanding stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (in shares)	54,409	59,911
Unvested RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (in shares)	24,414	4,290
Unvested early exercised stock options subject to repurchase
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (in shares)	19	349
Unvested restricted stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (in shares)	0	2,247
Shares issuable pursuant to the ESPP
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (in shares)	2,372	2,390
Contingently issuable shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (in shares)	7	9

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Income tax expense (benefit)	$ 301	$ 28

Geographical Information (Detai

Geographical Information (Details) - USD ($) $ in Thousands	3 Months Ended
Geographical Information (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 49,771	$ 51,000
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	46,815	48,861
International
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 2,956	$ 2,139