MicroStrategy (MSTR) 10-Q 29 Apr 21 2021 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2021	Apr. 22, 2021
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Trading Symbol	MSTR
Entity Registrant Name	MICROSTRATEGY INCORPORATED
Entity Central Index Key	0001050446
Entity Interactive Data Current	Yes
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Title of 12(b) Security	Class A common stock, par value $0.001 per share
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity File Number	000-24435
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	51-0323571
Entity Address, Address Line One	1850 Towers Crescent Plaza
Entity Address, City or Town	Tysons Corner
Entity Address, State or Province	VA
Entity Address, Postal Zip Code	22182
City Area Code	703
Local Phone Number	848-8600
Document Quarterly Report	true
Document Transition Report	false
Class A
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		7,781,568
Class B Convertible
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		1,964,025

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 82,544	$ 59,675
Restricted cash	1,194	1,084
Accounts receivable, net	150,626	197,461
Prepaid expenses and other current assets	16,390	14,400
Total current assets	250,754	272,620
Digital assets	1,946,582	1,054,302
Property and equipment, net	41,091	42,975
Right-of-use assets	71,367	73,597
Deposits and other assets	15,013	15,615
Deferred tax assets, net	118,272	6,503
Total assets	2,443,079	1,465,612
Current liabilities:
Accounts payable, accrued expenses, and operating lease liabilities	39,816	45,119
Accrued compensation and employee benefits	44,824	49,249
Deferred revenue and advance payments	198,980	191,250
Total current liabilities	283,620	285,618
Convertible senior notes, net	1,661,914	486,366
Deferred revenue and advance payments	14,517	14,662
Operating lease liabilities	81,849	84,328
Other long-term liabilities	34,329	33,382
Deferred tax liabilities	1,812	8,211
Total liabilities	2,078,041	912,567
Commitments and Contingencies
Stockholders’ Equity
Preferred stock undesignated, $0.001 par value; 5,000 shares authorized; no shares issued or outstanding	0	0
Additional paid-in capital	685,943	763,051
Treasury stock, at cost; 8,684 shares and 8,684 shares, respectively	(782,104)	(782,104)
Accumulated other comprehensive loss	(5,721)	(3,885)
Retained earnings	466,902	575,965
Total stockholders’ equity	365,038	553,045
Total liabilities and stockholders’ equity	2,443,079	1,465,612
Class A
Stockholders’ Equity
Common stock	16	16
Total stockholders’ equity	16	16
Class B Convertible
Stockholders’ Equity
Common stock	2	2
Total stockholders’ equity	$ 2	$ 2

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2021	Dec. 31, 2020
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Treasury stock, shares	8,684,000	8,684,000
Class A
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	330,000,000	330,000,000
Common stock, shares issued	16,466,000	16,307,000
Common stock, shares outstanding	7,782,000	7,623,000
Class B Convertible
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	165,000,000	165,000,000
Common stock, shares issued	1,964,000	1,964,000
Common stock, shares outstanding	1,964,000	1,964,000

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands		3 Months Ended
		Mar. 31, 2021	Mar. 31, 2020
Revenues:
Total revenues		$ 122,902	$ 111,424
Cost of revenues:
Total cost of revenues		22,549	24,545
Gross profit		100,353	86,879
Operating expenses:
Sales and marketing		38,198	39,518
Research and development		29,483	26,101
General and administrative		21,729	21,332
Digital asset impairment losses		194,095	0
Total operating expenses		283,505	86,951
Loss from operations		(183,152)	(72)
Interest (expense) income, net		(2,396)	1,855
Other income, net		1,264	434
(Loss) income before income taxes		(184,284)	2,217
(Benefit from) provision for income taxes		(74,264)	1,560
Net (loss) income		$ (110,020)	$ 657
Basic (loss) earnings per share	[1]	$ (11.40)	$ 0.07
Weighted average shares outstanding used in computing basic (loss) earnings per share		9,647	9,976
Diluted (loss) earnings per share	[1]	$ (11.40)	$ 0.07
Weighted average shares outstanding used in computing diluted (loss) earnings per share		9,647	10,031
Product licenses
Revenues:
Total revenues		$ 21,280	$ 12,584
Cost of revenues:
Total cost of revenues		488	670
Subscription services
Revenues:
Total revenues		10,026	7,968
Cost of revenues:
Total cost of revenues		3,628	4,064
Total product licenses and subscription services
Revenues:
Total revenues		31,306	20,552
Cost of revenues:
Total cost of revenues		4,116	4,734
Product support
Revenues:
Total revenues		70,649	71,158
Cost of revenues:
Total cost of revenues		4,812	6,718
Other services
Revenues:
Total revenues		20,947	19,714
Cost of revenues:
Total cost of revenues		$ 13,621	$ 13,093
[1]	Basic and fully diluted (loss) earnings per share for class A and class B common stock are the same.

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Statement Of Income And Comprehensive Income [Abstract]
Net (loss) income	$ (110,020)	$ 657
Other comprehensive (loss) income, net of applicable taxes:
Foreign currency translation adjustment	(1,836)	(1,171)
Unrealized gain on short-term investments	0	624
Total other comprehensive loss	(1,836)	(547)
Comprehensive (loss) income	$ (111,856)	$ 110

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjusted Balance	Class A	Class ACumulative Effect, Period of Adoption, Adjusted Balance	Class B Convertible	Class B ConvertibleCumulative Effect, Period of Adoption, Adjusted Balance	Additional Paid-in Capital	Additional Paid-in CapitalCumulative Effect, Period of Adoption, Adjusted Balance	Treasury Stock	Treasury StockCumulative Effect, Period of Adoption, Adjusted Balance	Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss)Cumulative Effect, Period of Adoption, Adjusted Balance	Retained Earnings	Retained EarningsCumulative Effect, Period of Adoption, Adjusted Balance
Beginning Balance at Dec. 31, 2019	$ 508,559		$ 16		$ 2		$ 593,583		$ (658,880)		$ (9,651)		$ 583,489
Beginning Balance (in shares) at Dec. 31, 2019			15,888		2,035				(7,807)
Net (loss) income	657		$ 0		$ 0		0		$ 0		0		657
Other comprehensive income (loss)	(547)		0		0		0		0		(547)		0
Issuance of class A common stock under stock option plans	340		$ 0		$ 0		340		$ 0		0		0
Issuance of class A common stock under stock option plans (in shares)			3		0				0
Purchases of treasury stock	(50,747)		$ 0		$ 0		0		$ (50,747)		0		0
Purchases of treasury stock (in shares)			0		0				(355)
Share-based compensation expense	3,164		$ 0		$ 0		3,164		$ 0		0		0
Ending Balance at Mar. 31, 2020	461,426		$ 16		$ 2		597,087		$ (709,627)		(10,198)		584,146
Ending Balance (in shares) at Mar. 31, 2020			15,891		2,035				(8,162)
Net (loss) income	3,387		$ 0		$ 0		0		$ 0		0		3,387
Other comprehensive income (loss)	1,011		0		0		0		0		1,011		0
Issuance of class A common stock under stock option plans	1,562		$ 0		$ 0		1,562		$ 0		0		0
Issuance of class A common stock under stock option plans (in shares)			12		0				0
Purchases of treasury stock	(11,128)		$ 0		$ 0		0		$ (11,128)		0		0
Purchases of treasury stock (in shares)			0		0				(90)
Share-based compensation expense	2,202		$ 0		$ 0		2,202		$ 0		0		0
Ending Balance at Jun. 30, 2020	458,460		$ 16		$ 2		600,851		$ (720,755)		(9,187)		587,533
Ending Balance (in shares) at Jun. 30, 2020			15,903		2,035				(8,252)
Net (loss) income	(14,229)		$ 0		$ 0		0		$ 0		0		(14,229)
Other comprehensive income (loss)	2,287		0		0		0		0		2,287		0
Conversion of class B to class A common stock	0		$ 0		$ 0		0		0		0		0
Conversion of class B to class A common stock (in shares)			21		(21)
Issuance of class A common stock under stock option plans	1,714		$ 0		$ 0		1,714		$ 0		0		0
Issuance of class A common stock under stock option plans (in shares)			13		0				0
Purchases of treasury stock	(61,349)		$ 0		$ 0		0		$ (61,349)		0		0
Purchases of treasury stock (in shares)			0		0				(432)
Share-based compensation expense	2,409		$ 0		$ 0		2,409		$ 0		0		0
Ending Balance at Sep. 30, 2020	389,292		$ 16		$ 2		604,974		$ (782,104)		(6,900)		573,304
Ending Balance (in shares) at Sep. 30, 2020			15,937		2,014				(8,684)
Net (loss) income	2,661		$ 0		$ 0		0		$ 0		0		2,661
Other comprehensive income (loss)	3,015		0		0		0		0		3,015		0
Conversion of class B to class A common stock	0		$ 0		$ 0		0		0		0		0
Conversion of class B to class A common stock (in shares)			50		(50)
Issuance of class A common stock under stock option plans	47,466		$ 0		$ 0		47,466		$ 0		0		0
Issuance of class A common stock under stock option plans (in shares)			320		0				0
Share-based compensation expense	2,801		$ 0		$ 0		2,801		$ 0		0		0
Equity component of convertible senior notes, net of issuance cost and deferred tax liability	107,810		0		0		107,810		0		0		0
Ending Balance at Dec. 31, 2020	$ 553,045	$ (106,853)	$ 16	$ 0	$ 2	$ 0	763,051	$ (107,810)	$ (782,104)	$ 0	(3,885)	$ 0	575,965	$ 957
Ending Balance (in shares) at Dec. 31, 2020			16,307		1,964				(8,684)
Accounting Standards Update Extensible List	ASU 2020-06
Net (loss) income	$ (110,020)		$ 0		$ 0		0		$ 0		0		(110,020)
Other comprehensive income (loss)	(1,836)		0		0		0		0		(1,836)		0
Issuance of class A common stock under stock option plans	23,854		$ 0		$ 0		23,854		$ 0		0		0
Issuance of class A common stock under stock option plans (in shares)			159		0				0
Share-based compensation expense	6,848		$ 0		$ 0		6,848		$ 0		0		0
Ending Balance at Mar. 31, 2021	$ 365,038		$ 16		$ 2		$ 685,943		$ (782,104)		$ (5,721)		$ 466,902
Ending Balance (in shares) at Mar. 31, 2021			16,466		1,964				(8,684)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Operating activities:
Net (loss) income	$ (110,020)	$ 657
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization	2,782	2,756
Reduction in carrying amount of right-of-use assets	2,086	2,053
Credit losses and sales allowances	(172)	828
Deferred taxes	(76,759)	957
Share-based compensation expense	7,711	3,111
Digital asset impairment losses	194,095	0
Amortization of issuance costs on convertible senior notes	1,172	0
Changes in operating assets and liabilities:
Accounts receivable	6,774	14,406
Prepaid expenses and other current assets	(2,919)	(3,295)
Deposits and other assets	(62)	84
Accounts payable and accrued expenses	(3,413)	(154)
Accrued compensation and employee benefits	(3,810)	(13,031)
Deferred revenue and advance payments	47,606	22,001
Operating lease liabilities	(2,458)	(2,238)
Other long-term liabilities	90	934
Net cash provided by operating activities	62,703	29,069
Investing activities:
Purchases of digital assets	(1,086,375)	0
Proceeds from redemption of short-term investments	0	10,000
Purchases of property and equipment	(447)	(661)
Purchases of short-term investments	0	(9,928)
Net cash used in investing activities	(1,086,822)	(589)
Financing activities:
Proceeds from convertible senior notes	1,050,000	0
Issuance costs paid for convertible senior notes	(24,596)	0
Proceeds from sale of class A common stock under exercise of employee stock options	23,854	340
Purchases of treasury stock	0	(50,747)
Net cash provided by (used in) financing activities	1,049,258	(50,407)
Effect of foreign exchange rate changes on cash, cash equivalents, and restricted cash	(2,160)	(3,871)
Net increase (decrease) in cash, cash equivalents, and restricted cash	22,979	(25,798)
Cash, cash equivalents, and restricted cash, beginning of period	60,759	457,816
Cash, cash equivalents, and restricted cash, end of period	$ 83,738	$ 432,018

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	(1) Summary of Significant Accounting Policies (a) Basis of Presentation The accompanying Consolidated Financial Statements of MicroStrategy Incorporated (“MicroStrategy” or the “Company”) are unaudited. In the opinion of management, all adjustments necessary for a fair statement of financial position and results of operations have been included. All such adjustments are of a normal recurring nature, unless otherwise disclosed. Interim results are not necessarily indicative of results for a full year. As discussed in Note 2, Recent Accounting Standards, to the Consolidated Financial Statements, the Company adopted Accounting Standards Update No. 2020-06, Debt – Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging – Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity The Consolidated Financial Statements and Notes to Consolidated Financial Statements are presented as required by the United States Securities and Exchange Commission (“SEC”) and do not contain certain information included in the Company’s annual financial statements and notes. These financial statements should be read in conjunction with the Company’s audited financial statements and the notes thereto filed with the SEC in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020. Except for the impact of adopting ASU 2020-06 on its accounting for convertible debt arrangements and diluted earnings per share calculation, changes to the expected stock price volatility assumption in the Black-Scholes valuation model used to determine the fair value of certain awards granted under the 2013 Stock Incentive Plan (as amended, the “2013 Equity Plan”) and the grant date fair value under the 2021 Employee Stock Purchase Plan (the “2021 ESPP”), and updated accounting policies for the 2021 ESPP, as discussed below, there have been no significant changes in the Company’s accounting policies since December 31, 2020. The accompanying Consolidated Financial Statements include the accounts of the Company and its subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation. (b) Convertible Debt Arrangement As discussed in Note 6, Convertible Senior Notes, to the Consolidated Financial Statements, the Company issued convertible senior notes in December 2020 and February 2021. As the embedded conversion features in each of the notes are indexed to the Company’s own stock and meet the criteria for classification in stockholders’ equity, derivative accounting does not apply and the Company records the aggregate principal amount of the notes as a liability on its Consolidated Balance Sheet, offset by the issuance costs associated with each offering. The issuance costs are amortized to interest expense using the effective interest method over the expected term of each of the notes. (c) Share-based Compensation The Company maintains the 2013 Equity Plan, under which the Company’s employees, officers, directors, and other eligible participants may be awarded various types of share-based compensation, including options to purchase shares of the Company’s class A common stock, restricted stock units, and other stock-based awards. During February 2021, the Company adopted the 2021 ESPP, under which eligible employees of the Company and certain of its subsidiaries may be provided with opportunities to purchase shares of the Company’s class A common stock. The Company recognizes share-based compensation expense associated with the 2013 Equity Plan and the 2021 ESPP on a straight-line basis over the requisite service period (generally, the vesting period for awards under the 2013 Equity Plan and the offering period under the 2021 ESPP). For options and other stock-based awards, the share-based compensation expense is based on the fair value of the awards on the date of grant, as estimated using the Black-Scholes valuation model. For the 2021 ESPP, the share-based compensation expense is based on the grant date fair value, which consists of the intrinsic value of any purchase discount and the fair value of the look-back provision using the Black-Scholes valuation model. For restricted stock units, the share-based compensation expense is based on the fair value of the Company’s class A common stock on the date of grant. The Black-Scholes valuation model requires the input of certain management assumptions, including the expected term, expected stock price volatility, risk-free interest rate, and expected dividend yield. Beginning in 2021, the Company estimates the expected stock price volatility by calculating a blended rate from the historical stock price volatility of its class A common stock and the implied volatility of the Company’s traded financial instruments with similar terms to the respective award. For stock options granted prior to 2021, the Company relied exclusively on its historical stock price volatility to estimate the expected stock price volatility over the expected term because the Company believed at the date of grant that future volatility was unlikely to differ from the past. The remaining assumptions in the Black-Scholes valuation model have not changed significantly since December 31, 2020. These assumptions are based on management’s best judgment, and changes to these assumptions could materially affect the fair value estimates and amount of share-based compensation expense recognized. See Note 10, Share-based Compensation, to the Consolidated Financial Statements for further information regarding the 2013 Equity Plan, the 2021 ESPP, related share-based compensation expense, and assumptions used in determining fair value. (d) Basic and Diluted Earnings Per Share Basic earnings per share is determined by dividing the net income attributable to common stockholders by the weighted average number of common shares and participating securities outstanding during the period. Participating securities are included in the basic earnings per share calculation when dilutive. Diluted earnings per share is determined by dividing the net income attributable to common stockholders by the weighted average number of common shares and potential common shares outstanding during the period. Potential common shares are included in the diluted earnings per share calculation when dilutive. Potential common shares consisting of class A common stock issuable upon the exercise of outstanding employee stock options, the vesting of restricted stock units, and in connection with the 2021 ESPP are computed using the treasury stock method. Upon the adoption of ASU 2020-06, potential common shares consisting of class A common stock issuable upon conversion of the Company’s convertible senior notes are computed using the if-converted method. Prior to the adoption of ASU 2020-06, potential common shares consisting of class A common stock issuable upon conversion of the Company’s convertible senior notes were computed using the treasury stock method. See Note 2, Recent Accounting Standards, to the Consolidated Financial Statements for further information regarding the differences in the if-converted and treasury stock methods.

Recent Accounting Standards

Recent Accounting Standards	3 Months Ended
	Mar. 31, 2021
Accounting Changes And Error Corrections [Abstract]
Recent Accounting Standards	(2) Recent Accounting Standards Accounting for Convertible Instruments The Company early adopted ASU 2020-06 effective as of January 1, 2021 using the modified retrospective method, which resulted in a cumulative-effect adjustment to the opening balance of retained earnings on the date of adoption, recorded as follows (in thousands): December 31, 2020 Effect of the Adoption January 1, 2021 Consolidated Balance Sheet As Reported of ASU 2020-06 As Adjusted Deferred tax liabilities (assets) $ 8,211 $ (41,693 ) $ (33,482 ) Convertible senior notes, net 486,366 148,546 634,912 Additional paid-in-capital 763,051 (107,810 ) 655,241 Retained earnings 575,965 957 576,922 The following significant accounting changes occurred as result of the adoption of ASU 2020-06: (i) Elimination of the cash conversion model . Under previous GAAP, instruments that may be partially settled in cash were in the scope of the “cash conversion” model, which required conversion features to be separately reported in equity. Upon the adoption of ASU 2020-06, the cash conversion model was eliminated and the Company no longer records conversion features in equity and instead accounts for its convertible senior notes as single units of debt. As a result, there is no longer a debt discount or subsequent amortization to be recognized as interest expense. Similarly, the Company no longer allocates a portion of the related issuance costs to equity. As a result of these changes, temporary differences between the Company’s book and tax bases have been eliminated and the Company no longer records any related net deferred tax liability. (ii) Use of the “if-converted” method for calculating diluted earnings per share . Under previous GAAP, the Company utilized the “treasury stock” method for computing the diluted earnings per share impact of its convertible senior notes. Under the treasury stock method, only the excess of the average stock price of the Company’s class A common stock for the reporting period over the conversion price was used in determining the impact to the diluted earnings per share denominator. Upon the adoption of ASU 2020-06, the Company may no longer use the treasury stock method for instruments with flexible settlement arrangements. Instead, the Company is required to use the if-converted method, which requires all underlying shares be included in the denominator regardless of the average stock price for the reporting period, in addition to adding back to the numerator the related interest expense from the stated coupon and the amortization of issuance costs, if dilutive. Accounting for income taxes The Company adopted Accounting Standards Update No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes

Digital Assets

Digital Assets	3 Months Ended
	Mar. 31, 2021
Intangible Assets Net Excluding Goodwill [Abstract]
Digital Assets	(3) Digital Assets The Company accounts for its digital assets as indefinite-lived intangible assets in accordance with Accounting Standards Codification (“ASC”) 350, Intangibles—Goodwill and Other

Contract Balances

Contract Balances	3 Months Ended
	Mar. 31, 2021
Contract With Customer Asset And Liability [Abstract]
Contract Balances	(4) Contract Balances The Company invoices its customers in accordance with billing schedules established in each contract. The Company’s rights to consideration from customers are presented separately in the Company’s Consolidated Balance Sheets depending on whether those rights are conditional or unconditional. The Company presents unconditional rights to consideration from customers within “Accounts receivable, net” in its Consolidated Balance Sheets. All of the Company’s contracts are generally non-cancellable and/or non-refundable, and therefore an unconditional right generally exists when the customer is billed or amounts are billable per the contract. Accounts receivable (in thousands) consisted of the following, as of: March 31, December 31, 2021 2020 Billed and billable $ 152,686 $ 200,221 Less: allowance for credit losses (2,060 ) (2,760 ) Accounts receivable, net $ 150,626 $ 197,461 Changes in the allowance for credit losses were not material for the three months ended March 31, 2021. In estimating its allowance for credit losses as of March 31, 2021, the Company considered the impact from the pandemic caused by a novel strain of coronavirus (“COVID-19”) and established additional risk pools and reserves relating to customers in certain geographic areas and industries, in addition to separately assessing the reserves for certain customers that have been granted extended payment terms. Rights to consideration that are subject to a condition other than the passage of time are considered contract assets and presented within “Prepaid expenses and other current assets” in the Consolidated Balance Sheets since the rights to consideration are expected to become unconditional and transfer to accounts receivable within one year. Contract assets generally consist of accrued sales and usage-based royalty revenue. In these arrangements, consideration is not billed or billable until the royalty reporting is received, generally in the subsequent quarter, at which time the contract asset transfers to accounts receivable and a true-up adjustment is recorded to revenue. These true-up adjustments are generally not material. During the three months ended March 31, 2021 and 2020, there were no significant impairments to the Company’s contract assets, nor were there any significant changes in the timing of the Company’s contract assets being reclassified to accounts receivable. Contract assets included in “Prepaid expenses and other current assets” in the Consolidated Balance Sheets consisted of $1.3 million and $1.1 million in accrued sales and usage-based royalty revenue as of March 31, 2021 and December 31, 2020, respectively. Contract liabilities are amounts received or due from customers in advance of the Company transferring the software or services to the customer. In the case of multi-year service contracts arrangements, the Company generally does not invoice more than one year in advance of services and does not record deferred revenue for amounts that have not been invoiced and that require an additional contract. Revenue is subsequently recognized in the period(s) in which control of the software or services is transferred to the customer. The Company’s contract liabilities are presented as either current or non-current “Deferred revenue and advance payments” in the Consolidated Balance Sheets, depending on whether the software or services are expected to be transferred to the customer within the next year. The Company’s “Accounts receivable, net” and “Deferred revenue and advance payments” balances in the Consolidated Balance Sheets include unpaid amounts related to contracts under which the Company has an enforceable right to invoice the customer for non-cancellable and/or non-refundable software and services. Changes in accounts receivable and changes in deferred revenue and advance payments are presented net of these unpaid amounts in “Operating activities” in the Consolidated Statements of Cash Flows. Deferred revenue and advance payments (in thousands) from customers consisted of the following, as of: March 31, December 31, 2021 2020 Current: Deferred product licenses revenue $ 195 $ 1,495 Deferred subscription services revenue 25,689 26,258 Deferred product support revenue 167,282 156,216 Deferred other services revenue 5,814 7,281 Total current deferred revenue and advance payments $ 198,980 $ 191,250 Non-current: Deferred product licenses revenue $ 67 $ 139 Deferred subscription services revenue 8,317 8,758 Deferred product support revenue 5,401 5,055 Deferred other services revenue 732 710 Total non-current deferred revenue and advance payments $ 14,517 $ 14,662 During the three months ended March 31, 2021, the Company recognized revenues of $70.3 million from amounts included in the total deferred revenue and advance payments balances at the beginning of 2021. During the three months ended March 31, 2020, the Company recognized revenues of $69.2 million from amounts included in the total deferred revenue and advance payments balances at the beginning of 2020. For the three months ended March 31, 2021 and 2020, there were no significant changes in the timing of revenue recognition on the Company’s deferred balances. As of March 31, 2021, the Company had an aggregate transaction price of $213.5 million allocated to remaining performance obligations related to product support, subscription services, other services, and, in limited cases, product licenses contracts. The Company expects to recognize $199.0 million within the next 12 months and $14.5 million thereafter

Leases

Leases	3 Months Ended
	Mar. 31, 2021
Leases [Abstract]
Leases	(5) Leases The Company leases office space in the United States and foreign locations under operating lease agreements. Office space is the Company’s only material underlying asset class under operating lease agreements. The Company has no material finance leases. Under the Company’s office space lease agreements, fixed payments and variable payments that depend on an index or rate are typically comprised of base rent and parking fees. Additionally, under these agreements the Company is generally responsible for certain variable payments that typically include certain taxes, utilities and maintenance costs, and other fees. These variable lease payments are generally based on the Company’s occupation or usage percentages and are subject to adjustments by the lessor. As of March 31, 2021, the Company’s right-of-use (“ROU”) assets and total lease liabilities were $61.0 million and $81.2 million, respectively, for leases in the United States and $10.4 million and $11.3 million, respectively, for foreign leases. As of December 31, 2020, the Company’s ROU assets and total lease liabilities were $62.2 million and $82.9 million, respectively, for leases in the United States and $11.4 million and $12.2 million, respectively, for foreign leases. The Company’s most significant lease is for its corporate headquarters in Northern Virginia. The ROU asset and total lease liability related to the Company’s corporate headquarters lease were $58.1 million and $78.2 million, respectively, as of March 31, 2021, and $59.0 million and $79.7 million, respectively, as of December 31, 2020. During the three months ended March 31, 2021 and 2020, there were no ROU assets obtained in exchange for new operating lease liabilities.

Convertible Senior Notes

Convertible Senior Notes	3 Months Ended
	Mar. 31, 2021
Debt Disclosure [Abstract]
Convertible Senior Notes	(6) Convertible Senior Notes In December 2020, the Company issued $650.0 million aggregate principal amount of 0.750% Convertible Senior Notes due 2025 (the “2025 Notes”) in a private offering. The 2025 Notes are senior unsecured obligations of the Company and bear interest at a fixed rate of 0.750% per annum, payable semiannually in arrears on June 15 and December 15 of each year, beginning on June 15, 2021. Holders of the 2025 Notes may receive additional interest under specified circumstances as outlined in the indenture relating to the issuance of the 2025 Notes (the “2025 Notes Indenture”). The 2025 Notes will mature on December 15, 2025, unless earlier converted, redeemed, or repurchased in accordance with their terms. The total net proceeds from the 2025 Notes offering, after deducting initial purchaser discounts and issuance costs, were approximately $634.7 million. In February 2021, the Company issued $1.050 billion aggregate principal amount of 0% Convertible Senior Notes due 2027 (the “2027 Notes”) in a private offering. The 2027 Notes are senior unsecured obligations of the Company and do not bear regular interest. However, holders of the 2027 Notes may receive special interest under specified circumstances as outlined in the indenture relating to the issuance of the 2027 Notes (the “2027 Notes Indenture”). Any special interest is payable semiannually in arrears on February 15 and August 15 of each year, beginning on August 15, 2021. The 2027 Notes will mature on February 15, 2027, unless earlier converted, redeemed, or repurchased in accordance with their terms. The total net proceeds from the 2027 Notes offering, after deducting initial purchaser discounts and issuance costs, were approximately $1.026 billion. The 2025 Notes and 2027 Notes (collectively, the “Notes”) are senior unsecured obligations and rank senior in right of payment to any of the Company’s indebtedness that is expressly subordinated in right of payment to the Notes; equal in right of payment to any of the Company’s unsecured indebtedness that is not so subordinated; effectively junior in right of payment to any of the Company’s secured indebtedness to the extent of the value of the assets securing such indebtedness; and structurally junior to all indebtedness and other liabilities (including trade payables) of the Company’s subsidiaries. The Notes are convertible into shares of the Company’s class A common stock at initial conversion rates of 2.5126 shares and 0.6981 shares per $1,000 principal amount of Notes for the 2025 Notes and 2027 Notes, respectively (equivalent to an initial conversion price of approximately $397.99 per share and $1,432.46 per share of class A common stock for the 2025 Notes and 2027 Notes, respectively). The conversion rates are subject to customary anti-dilution adjustments. In addition, following certain events that may occur prior to the respective maturity dates or if the Company delivers a notice of redemption, the Company will increase the conversion rate for a holder who elects to convert its Notes in connection with such corporate event or notice of redemption, as the case may be, in certain circumstances as provided in the 2025 Notes Indenture and the 2027 Notes Indenture (collectively, the “Indentures”), respectively. As of March 31, 2021, the maximum number of shares into which the Notes could be potentially converted if the conversion features are triggered are 1,633,190 and 733,005 shares for the 2025 Notes and 2027 Notes, respectively. Prior to June 15, 2025 and August 15, 2026 for the 2025 Notes and 2027 Notes, respectively, the Notes are convertible only under the following circumstances: (1) during any calendar quarter commencing after the calendar quarter ending on March 31, 2021 and June 30, 2021 for the 2025 Notes and 2027 Notes, respectively (and only during such calendar quarter), if the last reported sale price of the Company’s class A common stock for at least 20 trading days (whether or not consecutive) during the 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 2025 Notes or 2027 Notes, respectively, on each applicable trading day; (2) during the five business day period after any five consecutive trading day period (the “measurement period”) in which the “trading price” (as defined in the Indentures) per $1,000 principal amount of the 2025 Notes or 2027 Notes, respectively, for each trading day of the measurement period was less than 98% of the product of the last reported sale price of the Company’s class A common stock and the applicable conversion rate on each such trading day; (3) if the Company calls any or all of the 2025 Notes or 2027 Notes, respectively, for redemption, at any time prior to the close of business on the second scheduled trading day immediately preceding the redemption date; and (4) upon occurrence of specified corporate events as described in the Indentures. On or after June 15, 2025 or August 15, 2026 for the 2025 Notes and 2027 Notes, respectively, until the close of business on the second scheduled trading day immediately preceding the maturity dates of the 2025 Notes or 2027 Notes, respectively, holders may convert the 2025 Notes or 2027 Notes, respectively, at any time. Upon conversion of the Notes, the Company will pay or deliver, as the case may be, cash, shares of the Company’s class A common stock, or a combination of cash and shares of class A common stock, at the Company’s election. Prior to December 20, 2023 or February 20, 2024 for the 2025 Notes and 2027 Notes, respectively, the Company may not redeem the Notes. The Company may redeem for cash all or a portion of the 2025 Notes or 2027 Notes, at its option, on or after December 20, 2023 or February 20, 2024, respectively, if the last reported sale price of the Company’s class A common stock has been at least 130% of the conversion price of the 2025 Notes or 2027 Notes, respectively, then in effect for at least 20 trading days (whether or not consecutive), including the trading day immediately preceding the date on which the Company provides a notice of redemption, during any 30 consecutive trading day period ending on, and including, the trading day immediately preceding the date on which the Company provides notice of redemption. The redemption price will be equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. If the Company undergoes a “fundamental change,” as defined in the Indentures, prior to maturity, subject to certain conditions, holders may require the Company to repurchase for cash all or any portion of their Notes at a fundamental change repurchase price equal to 100% of the principal amount of the Notes to be repurchased, plus any accrued and unpaid interest to, but excluding, the fundamental change repurchase date. The Indentures contain customary terms and covenants, including that upon certain events of default occurring and continuing, either the Trustee or the holders of at least 25% in principal amount of the outstanding 2025 Notes or 2027 Notes, respectively, may declare 100% of the principal of, and accrued and unpaid interest, if any, on, all the 2025 Notes or 2027 Notes, respectively, to be due and payable. During the three months ended March 31, 2021, none of the conversion features of the Notes were triggered and no conversions occurred during the three months ended March 31, 2021. The Notes may be convertible thereafter if one or more of the conversion conditions is satisfied during future measurement periods. As of March 31, 2021, the last reported sale price of the Company’s class A common stock for at least 20 trading days during the 30 consecutive trading days ending on, and including, March 31, 2021 was greater than or equal to 130% of the conversion price of the 2025 Notes on each applicable trading day. Therefore, the 2025 Notes are convertible at the option of the holders of the 2025 Notes during the second quarter of 2021. As discussed in Note 2, Recent Accounting Standards, to the Consolidated Financial Statements, the Company adopted ASU 2020-06 effective January 1, 2021. Although the Notes each contain embedded conversion features, the Company accounts for each of the Notes in its entirety as a liability because the conversion features are indexed to the Company’s own stock and meet the criteria for classification in stockholders’ equity and therefore do not qualify for separate derivative accounting. The Company incurred approximately $15.3 million and $24.2 million in customary offering expenses associated with the 2025 Notes and 2027 Notes, respectively (“issuance costs”). The Company accounts for these issuance costs as a reduction to the principal amount of the 2025 Notes and 2027 Notes, respectively, and amortizes the issuance costs to interest expense over the contractual term of the 2025 Notes and 2027 Notes, respectively, at an effective interest rate of 1.23% and 0.39%, respectively. As of March 31, 2021, the net carrying value of the Notes was classified as a long-term liability in the “Convertible senior notes, net” line item in the Company’s Consolidated Balance Sheet. The following is a summary of the Company’s convertible debt instruments as of March 31, 2021 (in thousands): Principal Unamortized Net Carrying Fair Value Amount Issuance Costs Amount Amount Leveling 2025 Notes $ 650,000 $ (14,349 ) $ 635,651 $ 1,258,654 Level 2 2027 Notes 1,050,000 (23,737 ) 1,026,263 877,979 Level 2 Total $ 1,700,000 $ (38,086 ) $ 1,661,914 $ 2,136,633 The fair value of the Notes is determined using observable market data other than quoted prices, specifically the last traded price at the end of the reporting period of identical instruments in the over-the-counter market (Level 2). For the three months ended March 31, 2021 Contractual Amortization of Interest Expense Issuance Costs Total 2025 Notes $ 1,219 $ 739 $ 1,958 2027 Notes 0 433 433 Total $ 1,219 $ 1,172 $ 2,391 The following table shows the future contractual payments related to the Notes (semi-annual interest payments and principal upon maturity), based on the expected due dates of the various installments as of March 31, 2021 (in thousands): Payments due by period ended March 31, 2025 Notes 2027 Notes Total 2022 $ 4,740 $ 0 $ 4,740 2023 4,875 0 4,875 2024 4,875 0 4,875 2025 4,875 0 4,875 2026 655,078 0 655,078 Thereafter 0 1,050,000 1,050,000 Total $ 674,443 $ 1,050,000 $ 1,724,443

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2021
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	(7) Commitments and Contingencies (a) Commitments From time to time, the Company enters into certain types of contracts that require it to indemnify parties against third-party claims. These contracts primarily relate to agreements under which the Company assumes indemnity obligations for intellectual property infringement, as well as other obligations from time to time depending on arrangements negotiated with customers and other third parties. The conditions of these obligations vary. Thus, the overall maximum amount of the Company’s indemnification obligations cannot be reasonably estimated. Historically, the Company has not been obligated to make significant payments for these obligations and does not currently expect to incur any material obligations in the future. Accordingly, the Company has not recorded an indemnification liability on its Balance Sheets as of March 31, 2021 or December 31, 2020. See Note 5, Leases, to the Consolidated Financial Statements for information regarding the Company’s commitments that are related to lease agreements. See Note 6, Convertible Senior Notes, to the Consolidated Financial Statements for information regarding the Company’s commitments related to the 2025 Notes and 2027 Notes, which may be converted, redeemed, or repurchased prior to their respective maturity dates in accordance with their terms. See Note 9, Income Taxes, to the Consolidated Financial Statements for information regarding the Company’s commitments that are related to a mandatory deemed repatriation transition tax (“Transition Tax”) imposed under the U.S. Tax Cuts and Jobs Act (the “Tax Act”). (b) Contingencies Following an internal review initiated in 2018, the Company believes that its Brazilian subsidiary failed or likely failed to comply with local procurement regulations in conducting business with certain Brazilian government entities. On February 6, 2020, the Company learned that a Brazilian court has authorized the Brazilian Federal Police to use certain investigative measures in its investigation into alleged corruption and procurement fraud involving certain government officials, pertaining to a particular transaction. Pursuant to this court authorization, numerous entities and individuals across Brazil have been subject to the freezing of assets and other measures, including a former reseller and a former employee of the Company’s Brazilian subsidiary. On February 6, 2020, the bank accounts of the Company’s Brazilian subsidiary were also frozen up to an amount of BRL 10.0 million, or approximately $2.3 million. On May 22, 2020, these bank accounts of the Company’s Brazilian subsidiary were unfrozen on the basis of a court decision that found the alleged illicit origin of the amounts was not sufficiently evidenced. On May 25, 2020, the Federal Prosecution Office presented an appeal to this decision, but the accounts will remain unfrozen pending the outcome of the appeal. The transaction at issue is part of the basis of the previously reported failure or likely failure of the Brazilian subsidiary to comply with local procurement regulations. The Company is not a subject of the investigation, and the Company is not aware of any allegations that the former employee or the Company made any payments to Brazilian government officials. The Brazilian Federal Police has expanded the investigation to include other possible cases of procurement fraud involving Brazilian government entities and criminal penalties may be imposed against individuals; however, the Company’s Brazilian subsidiary is not a target. The Company has also learned that Brazil’s Federal Comptroller General filed an administrative action against the Company’s Brazilian subsidiary with respect to the alleged procurement violations. The Company is taking measures to attempt to resolve this matter. While the Company believes that it is probable that the resolution of these Brazilian matters will result in a loss, the amount or range of loss is not reasonably estimable at this time. Given the stage of these matters, the outcome may result in a material impact on the Company’s earnings and financial results for the period in which any such liability is accrued. However, the Company believes that the outcome of these matters will not have a material effect on the Company’s financial position. On November 4, 2020, a complaint was filed against the Company in the U.S. District Court for the Eastern District of Virginia by a patent assertion entity called Daedalus Blue, LLC (“Daedalus”). In its complaint, Daedalus alleges that the Company has infringed U.S. Patent Nos. 8,341,172 (“the ’172 Patent”) and 9,032,076 (“the ‘076 Patent”) based on specific functionality in the MicroStrategy platform. The ’172 Patent relates to a method for providing aggregate data access in response to a query, whereas the ‘076 Patent relates to a role-based access control system. On March 1, 2021, Daedalus provided its formal infringement contentions which included additional accused functionality as part of its infringement allegations from the complaint, materially expanding the scope of its case. The Company has filed a motion to dismiss the complaint with prejudice, asking the court to rule that the asserted claims are invalid as being directed to patent ineligible matter. This matter is in the early stages of discovery and the outcome of this matter is not presently determinable. The Company is also involved in various legal proceedings arising in the normal course of business. Although the outcomes of these legal proceedings are inherently difficult to predict, management does not expect the resolution of these legal proceedings to have a material adverse effect on the Company’s financial position, results of operations, or cash flows. The Company has contingent liabilities that, in management’s judgment, are not probable of assertion. If such unasserted contingent liabilities were to be asserted, or become probable of assertion, the Company may be required to record significant expenses and liabilities in the period in which these liabilities are asserted or become probable of assertion.

Treasury Stock

Treasury Stock	3 Months Ended
	Mar. 31, 2021
Equity [Abstract]
Treasury Stock	(8) Treasury Stock The Board of Directors has authorized the Company’s repurchase of up to an aggregate of $800.0 million of its class A common stock from time to time on the open market through April 29, 2023 (the “Share Repurchase Program”), although the program may be suspended or discontinued by the Company at any time. The timing and amount of any shares repurchased will be determined by the Company’s management based on its evaluation of market conditions and other factors. The Share Repurchase Program may be funded using the Company’s working capital, as well as proceeds from any other funding arrangements that the Company may enter into in the future. During the three months ended March 31, 2021, the Company did not repurchase any shares of its class A common stock pursuant to the Share Repurchase Program. During the three months ended March 31, 2020, the Company repurchased an aggregate of 354,633 shares of its class A common stock at an average price per share of $143.10 and an aggregate cost of $50.7 million pursuant to the Share Repurchase Program. As of March 31, 2021, the Company had repurchased an aggregate of 5,674,226 shares of its class A common stock at an average price per share of $104.13 and an aggregate cost of $590.9 million pursuant to the Share Repurchase Program. As of March 31, 2021, $209.1 million of the Company’s class A common stock remained available for repurchase pursuant to the Share Repurchase Program. The average price per share and aggregate cost amounts disclosed above include broker commissions.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Income Taxes	(9) Income Taxes The Company and its subsidiaries conduct business in the United States and various foreign countries and are subject to taxation in numerous domestic and foreign jurisdictions. As a result of its business activities, the Company files tax returns that are subject to examination by various U.S. federal, state, and local, and foreign tax authorities. With few exceptions, the Company is no longer subject to U.S. federal, state and local, or foreign income tax examination by tax authorities for years before 2016. However, due to the Company’s use of state net operating loss (“NOL”) carryovers in the United States, state tax authorities may attempt to reduce or fully offset the amount of state NOL carryovers from tax years ended 2011 and forward that the Company used in later tax years. The Company’s major foreign tax jurisdictions and tax years that remain subject to potential examination are Poland for tax years 2015 and forward, Germany and Italy for tax years 2016 and forward, and Spain and the United Kingdom for tax years 2017 and forward. To date there have been no material assessments related to audits in any of the applicable foreign jurisdictions. As of March 31, 2021, the Company had unrecognized tax benefits of $4.6 million, which are recorded in “Other long-term liabilities” in the Company’s Consolidated Balance Sheet. If recognized, $4.4 million of these unrecognized tax benefits would impact the Company’s effective tax rate. The Company recognizes estimated accrued interest related to unrecognized income tax benefits in the (benefit from) provision for income tax accounts. Penalties relating to income taxes, if incurred, would also be recognized as a component of the Company’s (benefit from) provision for income taxes. Over the next 12 months, the amount of the Company’s liability for unrecognized tax benefits is not expected to change by a material amount. As of March 31, 2021 , the amount of cumulative accrued interest expense on unrecognized income tax benefits was approximately $ million. The following table summarizes the Company’s deferred tax assets, net of deferred tax liabilities and valuation allowance (in thousands), as of: March 31, December 31, 2021 2020 Deferred tax assets, net of deferred tax liabilities $ 117,805 $ (449 ) Valuation allowance (1,345 ) (1,259 ) Deferred tax assets, net of deferred tax liabilities and valuation allowance $ 116,460 $ (1,708 ) The valuation allowances as of March 31, 2021 and December 31, 2020 primarily related to certain foreign tax credit carryforwards that, in the Company’s present estimation, more likely than not will not be realized. In determining its tax provision or benefit from income taxes, the Company estimates its annual effective tax rate for the full fiscal year and applies that rate to its income or loss before income taxes for the current reporting period. The Company also records discrete items in each respective period as appropriate. The estimated effective tax rate is subject to fluctuation based on the level and mix of earnings and losses by tax jurisdiction, foreign tax rate differentials, and the relative impact of permanent book to tax differences (e.g., non-deductible expenses). Each quarter, a cumulative adjustment is recorded for any fluctuations in the estimated annual effective tax rate as compared to the prior quarter. As a result of these factors, and due to potential changes in the Company’s period-to-period results, fluctuations in the Company’s effective tax rate and respective tax provisions or benefits may occur. For the three months ended March 31, 2021, the Company recorded a benefit from income taxes of $74.3 million that resulted in an effective tax rate of 40.3%, as compared to a provision for income taxes of $1.6 million that resulted in an effective tax rate of 70.4% for the three months ended March 31, 2020. The change in the effective tax rate in 2021 is mainly due to certain discrete items and the change in the expected proportion of U.S. versus foreign income between periods. In the United States, the Tax Act reduced the U.S. corporate tax rate from 35% to 21%, effective January 1, 2018. Additionally, the Tax Act requires certain Global Intangible Low Taxed Income (“GILTI”) earned by controlled foreign corporations (“CFCs”) to be included in the gross income of the CFCs’ U.S. shareholder. The Company has elected the “period cost method” and treats taxes due on future U.S. inclusions in taxable income related to GILTI as a current-period expense when incurred. The Tax Act allows a U.S. corporation a deduction equal to a certain percentage of its foreign-derived intangible income (“FDII”). The Company estimated the impact of the GILTI tax and FDII deduction in determining its 2021 annual effective tax rate that is reflected in its benefit from income taxes for the three months ended March 31, 2021. The Tax Act also imposed a Transition Tax on previously untaxed accumulated and current earnings and profits of certain foreign subsidiaries of the Company. As a result of the Tax Act, the Company recorded a final tax expense of $37.2 million related to the Transition Tax, comprised of a provisional Transition Tax obligation of $40.3 million in 2017 and a subsequent $(3.1) million measurement period adjustment in 2018. As of March 31, 2021, $28.0 million of the Transition Tax was unpaid, of which $25.1 million was recorded in “Other long-term liabilities” and $3.0 million was recorded in “Accounts payable, accrued expenses, and operating lease liabilities” in the Company’s Consolidated Balance Sheet. The Company has elected to pay the Transition Tax over an eight-year period beginning in 2018, as permitted under the Tax Act. As of March 31, 2021 and December 31, 2020, the amount of cash and cash equivalents held by the Company’s U.S. entities was $22.2 million and $13.7 million, respectively, and by the Company’s non-U.S. entities was $60.3 million and $46.0 million, respectively. The Company earns a significant amount of its revenues outside the United States. The Company repatriated foreign earnings and profits of $186.6 million during 2020 and $25.5 million during the first quarter of 2021. As of March 31, 2021, the accumulated undistributed foreign earnings and profits is estimated to be $119.3 million. Beginning in the third quarter of 2020, the Company determined to no longer permanently reinvest its foreign earnings and profits. Therefore, the Company accrued for foreign withholding tax and U.S. state income taxes on undistributed foreign earnings in addition to the Transition Tax and GILTI tax described above. In determining the Company’s (benefit from) provision for income taxes, net deferred tax assets, liabilities, and valuation allowances, management is required to make estimates and judgments related to projections of domestic and foreign profitability, the timing and extent of the utilization of NOL carryforwards, applicable tax rates, transfer pricing methods, and prudent and feasible tax planning strategies. As a multinational company, the Company is required to calculate and provide for estimated income tax liabilities for each of the tax jurisdictions in which it operates. This process involves estimating current tax obligations and exposures in each jurisdiction, as well as making judgments regarding the future recoverability of deferred tax assets. Changes in the estimated level of annual pre-tax income, changes in tax laws, particularly changes related to the utilization of NOLs in various jurisdictions, and changes resulting from tax audits can all affect the overall effective income tax rate, which, in turn, impacts the overall level of income tax expense or benefit and net income. According to the guidance under ASC 740, Income Taxes Estimates and judgments related to the Company’s projections and assumptions are inherently uncertain. Therefore, actual results could differ materially from projections. Currently, the Company expects to use its deferred tax assets, subject to Internal Revenue Code limitations, within the carryforward periods. Valuation allowances have been established where the Company has concluded that it is more likely than not that such deferred tax assets are not realizable. If the Company is unable to regain or increase profitability in future periods, it may be required to increase the valuation allowance against the deferred tax assets, which could result in a charge that would materially adversely affect net income in the period in which the charge is incurred.

Share-based Compensation

Share-based Compensation	3 Months Ended
	Mar. 31, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Share-based Compensation	(10) Share-based Compensation 2013 Stock Incentive Plan The Company’s 2013 Equity Plan authorizes the issuance of various types of share-based awards to the Company’s employees, officers, directors, and other eligible participants. As of March 31, 2021, a total of 2,300,000 shares of the Company’s class A common stock were authorized for issuance under the 2013 Equity Plan. As of March 31, 2021, there were 115,138 shares of class A common stock reserved and available for future issuance under the 2013 Equity Plan. In April 2021, the Board of Directors authorized, subject to stockholder approval, an increase in the total number of shares of the Company’s class A common stock authorized for issuance under the 2013 Equity Plan from 2,300,000 shares to 2,750,000 shares. Stock option awards As of March 31, 2021, there were options to purchase 1,273,304 shares of class A common stock outstanding under the 2013 Equity Plan. The following table summarizes the Company’s stock option activity (in thousands, except per share data and years) for the three months ended March 31, 2021: Stock Options Outstanding Weighted Average Aggregate Weighted Average Exercise Price Intrinsic Remaining Contractual Shares Per Share Value Term (Years) Balance as of January 1, 2021 1,157 $ 139.48 Granted 280 $ 691.93 Exercised (159 ) $ 150.43 $ 98,332 Forfeited/Expired (5 ) $ 138.82 Balance as of March 31, 2021 1,273 $ 259.39 Exercisable as of March 31, 2021 564 $ 132.02 $ 308,274 3.9 Expected to vest as of March 31, 2021 709 $ 360.60 $ 229,435 9.0 Total 1,273 $ 259.39 $ 537,709 6.7 Stock options outstanding as of March 31, 2021 are comprised of the following range of exercise prices per share (in thousands, except per share data and years): Stock Options Outstanding at March 31, 2021 Weighted Average Weighted Average Exercise Price Remaining Contractual Range of Exercise Prices per Share Shares Per Share Term (Years) $121.43 - $200.00 994 $ 137.74 5.8 $600.01 - $700.00 276 $ 691.23 9.9 $700.01 - $756.55 3 $ 756.55 9.9 Total 1,273 $ 259.39 6.7 An aggregate of 78,125 stock options with an aggregate grant date fair value of $4.5 million vested during the three months ended March 31, 2021. The weighted average grant date fair value of stock option awards using the Black-Scholes pricing model was $381.26 for each share subject to a stock option granted during the three months ended March 31, 2021 based on the following assumptions: Three months ended March 31, 2021 Expected term of options in years 6.25 Expected volatility 57.6% - 59.0% Risk-free interest rate 0.8% - 1.0% Expected dividend yield 0.0 % No stock option awards were granted during the three months ended March 31, 2020. For the three months ended March 31, 2021 and 2020, the Company recognized approximately $5.3 million and $3.2 million, respectively, in share-based compensation expense from stock options granted under the 2013 Equity Plan. As of March 31, 2021, there was approximately $122.9 million of total unrecognized share-based compensation expense related to unvested stock options. The Company expects to recognize this remaining share-based compensation expense over a weighted average vesting period of approximately 3.7 years. Restricted stock units As of March 31, 2021, there were 90,100 restricted stock units outstanding under the 2013 Equity Plan, which the Company intends to settle in shares. The following table summarizes the Company’s restricted stock unit activity (in thousands) for the periods indicated: Restricted Stock Units Outstanding Aggregate Intrinsic Units Value Balance as of January 1, 2021 74 Granted 17 Vested 0 $ 0 Forfeited (1 ) Balance as of March 31, 2021 90 Expected to vest as of March 31, 2021 90 $ 61,160 No restricted stock units vested during the three months ended March 31, 2021. The weighted average grant date fair value of restricted stock units granted during the three months ended March 31, 2021 was $691.99 based on the fair value of the Company’s class A common stock. The Company recognized approximately $1.2 million in share-based compensation expense for the three months ended March 31, 2021 from restricted stock units granted under the 2013 Equity Plan. As of March 31, 2021, there was approximately $24.2 million of total unrecognized share-based compensation expense related to unvested restricted stock units. As of March 31, 2021, the Company expects to recognize this remaining share-based compensation expense over a weighted average vesting period of approximately 3.8 years. Other stock-based awards and cash-settled restricted stock units During the three months ended March 31, 2021, the Company granted 9,000 “other stock-based awards” under the 2013 Equity Plan. As of March 31, 2021, there were a total of 14,000 other stock-based awards outstanding under the 2013 Equity Plan. These other stock-based awards are similar to stock options, except these awards are settled in cash only and not in shares of the Company’s class A common stock. During the three months ended March 31, 2021, the Company also granted 900 restricted stock units under the 2013 Equity Plan that can only be settled in cash. As of March 31, 2021, there were a total of 900 cash-settled restricted stock units outstanding under the 2013 Equity Plan. These cash-settled restricted stock units are similar to the Company’s other restricted stock units, except they are settled in cash only and not in shares of the Company’s class A common stock. Both the other stock-based awards and the cash-settled restricted stock units are classified as liabilities in the Company’s Consolidated Balance Sheets due to the required cash settlement feature and the fair value of the awards is remeasured each quarterly reporting period. For the three months ended March 31, 2021, the Company recognized $0.9 million in share-based compensation expense from other stock-based awards and cash-settled restricted stock units. During the three months ended March 31, 2020, share-based compensation expense from other stock-based awards was not material. As of March 31, 2021, there was approximately $5.4 million of total unrecognized share-based compensation expense related to other stock-based awards and cash-settled restricted stock units. The Company expects to recognize this remaining share-based compensation expense over a weighted average vesting period of approximately 3.0 years, subject to additional fair value adjustments through the earlier of settlement or expiration. 2021 ESPP During the first quarter of 2021, the Company adopted the 2021 ESPP. The purpose of the 2021 ESPP is to provide eligible employees of the Company and certain of its subsidiaries with opportunities to purchase shares of the Company’s class A common stock, commencing at such time and on such dates as the Board of Directors of the Company shall determine. An aggregate of 100,000 shares of the Company’s class A common stock has been authorized for issuance under the 2021 ESPP. Unless otherwise determined by the Board of Directors, shares are purchased at a price equal to 85% of the lesser of the closing price of the Company’s class A common stock on the first or last business day of the offering period, respectively. Share-based compensation expense is based on the grant date fair value, which consists of the intrinsic value of the 15% discounted share purchase rights and the fair value of the look-back provision using the Black-Scholes valuation model, recognized on a straight-line basis over the offering period. The grant date is the offering period commencement date. The first offering period under the 2021 ESPP commenced on February 16, 2021 and will end on August 15, 2021. During the three months ended March 31, 2021, the Company recognized approximately $0.4 million in share-based compensation expense related to the 2021 ESPP. As of March 31, 2021, there was approximately $1.3 million of total unrecognized share-based compensation expense related to the 2021 ESPP. The Company expects to recognize this remaining share-based compensation expense over a period of approximately 0.4 years. As of March 31, 2021, no shares have been issued in connection with the 2021 ESPP.

Common Equity and Earnings per

Common Equity and Earnings per Share	3 Months Ended
	Mar. 31, 2021
Earnings Per Share [Abstract]
Common Equity and Earnings per Share	(11) Common Equity and Earnings per Share The Company has two classes of common stock: class A common stock and class B common stock. Holders of class A common stock generally have the same rights, including rights to dividends, as holders of class B common stock, except that holders of class A common stock have one vote per share while holders of class B common stock have 10 votes per share. Each share of class B common stock is convertible at any time, at the option of the holder, into one share of class A common stock. As such, basic and fully diluted earnings per share for class A common stock and for class B common stock are the same. The Company has never declared or paid any cash dividends on either class A or class B common stock. As of March 31, 2021 and December 31, 2020, there were no shares of preferred stock issued or outstanding. Potential shares of common stock are included in the diluted earnings per share calculation when dilutive. Potential shares of class A common stock issuable upon the exercise of outstanding stock options, the vesting of outstanding restricted stock units, and in connection with the 2021 ESPP are calculated using the treasury stock method. Potential shares of class A common stock issuable upon conversion of the 2025 Notes and 2027 Notes are calculated using the if-converted method. In computing diluted earnings per share, the Company first calculates the earnings per incremental share (“EPIS”) for each class of potential common shares and ranks the classes from the most dilutive (i.e., lowest EPIS) to the least dilutive (i.e., highest EPIS). Basic earnings per share is then adjusted for the effect of each class of shares, in sequence and cumulatively, until a particular class no longer produces further dilution. For the three months ended March 31, 2021 and 2020, the following weighted average shares of potential class A common stock were excluded from the diluted earnings per share calculation because their impact would have been anti-dilutive (in thousands): Three Months Ended March 31, 2021 2020 Stock Options 1,211 1,073 Restricted Stock Units 81 0 Employee Stock Purchase Plan 3 0 2025 Notes 1,633 0 2027 Notes 334 0 Total 3,262 1,073

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2021
Segment Reporting [Abstract]
Segment Information	(12) Segment Information The Company manages its business in one reportable operating segment. The Company’s one reportable operating segment is engaged in the design, development, marketing, and sales of its software platform through licensing arrangements and cloud subscriptions and related services. The following table presents total revenues, gross profit, and long-lived assets, excluding long-term deferred tax assets, (in thousands) according to geographic region: Geographic regions: Domestic EMEA Other Regions Consolidated Three months ended March 31, 2021 Total revenues $ 70,207 $ 39,817 $ 12,878 $ 122,902 Gross profit $ 58,931 $ 31,969 $ 9,453 $ 100,353 Three months ended March 31, 2020 Total revenues $ 65,489 $ 35,473 $ 10,462 $ 111,424 Gross profit $ 51,442 $ 27,176 $ 8,261 $ 86,879 As of March 31, 2021 Long-lived assets $ 2,054,669 $ 10,528 $ 8,856 $ 2,074,053 As of December 31, 2020 Long-lived assets $ 1,165,283 $ 11,441 $ 9,765 $ 1,186,489 The domestic region consists of the United States and Canada. The EMEA region includes operations in Europe, the Middle East, and Africa. The other regions include all other foreign countries, generally comprising Latin America and the Asia Pacific region. For the three months ended March 31, 2021 and 2020, no individual foreign country accounted for 10% or more of total consolidated revenues. For the three months ended March 31, 2021 and 2020, no individual customer accounted for 10% or more of total consolidated revenues. As of March 31, 2021 and December 31, 2020, no individual foreign country accounted for 10% or more of total consolidated assets.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2021
Subsequent Events [Abstract]
Subsequent Events	(13) Subsequent Events As discussed in Note 10, Share-based Compensation, in April 2021, the Board of Directors authorized, subject to stockholder approval, an increase in the total number of shares of the Company’s class A common stock authorized for issuance under the 2013 Equity Plan from 2,300,000 shares to 2,750,000 shares.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Basis of Presentation	(a) Basis of Presentation The accompanying Consolidated Financial Statements of MicroStrategy Incorporated (“MicroStrategy” or the “Company”) are unaudited. In the opinion of management, all adjustments necessary for a fair statement of financial position and results of operations have been included. All such adjustments are of a normal recurring nature, unless otherwise disclosed. Interim results are not necessarily indicative of results for a full year. As discussed in Note 2, Recent Accounting Standards, to the Consolidated Financial Statements, the Company adopted Accounting Standards Update No. 2020-06, Debt – Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging – Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity The Consolidated Financial Statements and Notes to Consolidated Financial Statements are presented as required by the United States Securities and Exchange Commission (“SEC”) and do not contain certain information included in the Company’s annual financial statements and notes. These financial statements should be read in conjunction with the Company’s audited financial statements and the notes thereto filed with the SEC in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020. Except for the impact of adopting ASU 2020-06 on its accounting for convertible debt arrangements and diluted earnings per share calculation, changes to the expected stock price volatility assumption in the Black-Scholes valuation model used to determine the fair value of certain awards granted under the 2013 Stock Incentive Plan (as amended, the “2013 Equity Plan”) and the grant date fair value under the 2021 Employee Stock Purchase Plan (the “2021 ESPP”), and updated accounting policies for the 2021 ESPP, as discussed below, there have been no significant changes in the Company’s accounting policies since December 31, 2020. The accompanying Consolidated Financial Statements include the accounts of the Company and its subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation.
Convertible Debt Arrangement	(b) Convertible Debt Arrangement As discussed in Note 6, Convertible Senior Notes, to the Consolidated Financial Statements, the Company issued convertible senior notes in December 2020 and February 2021. As the embedded conversion features in each of the notes are indexed to the Company’s own stock and meet the criteria for classification in stockholders’ equity, derivative accounting does not apply and the Company records the aggregate principal amount of the notes as a liability on its Consolidated Balance Sheet, offset by the issuance costs associated with each offering. The issuance costs are amortized to interest expense using the effective interest method over the expected term of each of the notes.
Share-based Compensation	(c) Share-based Compensation The Company maintains the 2013 Equity Plan, under which the Company’s employees, officers, directors, and other eligible participants may be awarded various types of share-based compensation, including options to purchase shares of the Company’s class A common stock, restricted stock units, and other stock-based awards. During February 2021, the Company adopted the 2021 ESPP, under which eligible employees of the Company and certain of its subsidiaries may be provided with opportunities to purchase shares of the Company’s class A common stock. The Company recognizes share-based compensation expense associated with the 2013 Equity Plan and the 2021 ESPP on a straight-line basis over the requisite service period (generally, the vesting period for awards under the 2013 Equity Plan and the offering period under the 2021 ESPP). For options and other stock-based awards, the share-based compensation expense is based on the fair value of the awards on the date of grant, as estimated using the Black-Scholes valuation model. For the 2021 ESPP, the share-based compensation expense is based on the grant date fair value, which consists of the intrinsic value of any purchase discount and the fair value of the look-back provision using the Black-Scholes valuation model. For restricted stock units, the share-based compensation expense is based on the fair value of the Company’s class A common stock on the date of grant. The Black-Scholes valuation model requires the input of certain management assumptions, including the expected term, expected stock price volatility, risk-free interest rate, and expected dividend yield. Beginning in 2021, the Company estimates the expected stock price volatility by calculating a blended rate from the historical stock price volatility of its class A common stock and the implied volatility of the Company’s traded financial instruments with similar terms to the respective award. For stock options granted prior to 2021, the Company relied exclusively on its historical stock price volatility to estimate the expected stock price volatility over the expected term because the Company believed at the date of grant that future volatility was unlikely to differ from the past. The remaining assumptions in the Black-Scholes valuation model have not changed significantly since December 31, 2020. These assumptions are based on management’s best judgment, and changes to these assumptions could materially affect the fair value estimates and amount of share-based compensation expense recognized. See Note 10, Share-based Compensation, to the Consolidated Financial Statements for further information regarding the 2013 Equity Plan, the 2021 ESPP, related share-based compensation expense, and assumptions used in determining fair value.
Basic and Diluted Earnings Per Share	(d) Basic and Diluted Earnings Per Share Basic earnings per share is determined by dividing the net income attributable to common stockholders by the weighted average number of common shares and participating securities outstanding during the period. Participating securities are included in the basic earnings per share calculation when dilutive. Diluted earnings per share is determined by dividing the net income attributable to common stockholders by the weighted average number of common shares and potential common shares outstanding during the period. Potential common shares are included in the diluted earnings per share calculation when dilutive. Potential common shares consisting of class A common stock issuable upon the exercise of outstanding employee stock options, the vesting of restricted stock units, and in connection with the 2021 ESPP are computed using the treasury stock method. Upon the adoption of ASU 2020-06, potential common shares consisting of class A common stock issuable upon conversion of the Company’s convertible senior notes are computed using the if-converted method. Prior to the adoption of ASU 2020-06, potential common shares consisting of class A common stock issuable upon conversion of the Company’s convertible senior notes were computed using the treasury stock method. See Note 2, Recent Accounting Standards, to the Consolidated Financial Statements for further information regarding the differences in the if-converted and treasury stock methods. Potential shares of common stock are included in the diluted earnings per share calculation when dilutive. Potential shares of class A common stock issuable upon the exercise of outstanding stock options, the vesting of outstanding restricted stock units, and in connection with the 2021 ESPP are calculated using the treasury stock method. Potential shares of class A common stock issuable upon conversion of the 2025 Notes and 2027 Notes are calculated using the if-converted method. In computing diluted earnings per share, the Company first calculates the earnings per incremental share (“EPIS”) for each class of potential common shares and ranks the classes from the most dilutive (i.e., lowest EPIS) to the least dilutive (i.e., highest EPIS). Basic earnings per share is then adjusted for the effect of each class of shares, in sequence and cumulatively, until a particular class no longer produces further dilution.
Income Taxes	The Company recognizes estimated accrued interest related to unrecognized income tax benefits in the (benefit from) provision for income tax accounts.Additionally, the Tax Act requires certain Global Intangible Low Taxed Income (“GILTI”) earned by controlled foreign corporations (“CFCs”) to be included in the gross income of the CFCs’ U.S. shareholder. The Company has elected the “period cost method” and treats taxes due on future U.S. inclusions in taxable income related to GILTI as a current-period expense when incurred. The Tax Act allows a U.S. corporation a deduction equal to a certain percentage of its foreign-derived intangible income (“FDII”).In determining the Company’s (benefit from) provision for income taxes, net deferred tax assets, liabilities, and valuation allowances, management is required to make estimates and judgments related to projections of domestic and foreign profitability, the timing and extent of the utilization of NOL carryforwards, applicable tax rates, transfer pricing methods, and prudent and feasible tax planning strategies. As a multinational company, the Company is required to calculate and provide for estimated income tax liabilities for each of the tax jurisdictions in which it operates. This process involves estimating current tax obligations and exposures in each jurisdiction, as well as making judgments regarding the future recoverability of deferred tax assets. Changes in the estimated level of annual pre-tax income, changes in tax laws, particularly changes related to the utilization of NOLs in various jurisdictions, and changes resulting from tax audits can all affect the overall effective income tax rate, which, in turn, impacts the overall level of income tax expense or benefit and net income. Estimates and judgments related to the Company’s projections and assumptions are inherently uncertain. Therefore, actual results could differ materially from projections. Currently, the Company expects to use its deferred tax assets, subject to Internal Revenue Code limitations, within the carryforward periods. Valuation allowances have been established where the Company has concluded that it is more likely than not that such deferred tax assets are not realizable. If the Company is unable to regain or increase profitability in future periods, it may be required to increase the valuation allowance against the deferred tax assets, which could result in a charge that would materially adversely affect net income in the period in which the charge is incurred.

Recent Accounting Standards (Ta

Recent Accounting Standards (Tables)	3 Months Ended
	Mar. 31, 2021
Accounting Changes And Error Corrections [Abstract]
Summary Impact of ASU 2020-06 on Opening Consolidated Balance Sheet	The Company early adopted ASU 2020-06 effective as of January 1, 2021 using the modified retrospective method, which resulted in a cumulative-effect adjustment to the opening balance of retained earnings on the date of adoption, recorded as follows (in thousands): December 31, 2020 Effect of the Adoption January 1, 2021 Consolidated Balance Sheet As Reported of ASU 2020-06 As Adjusted Deferred tax liabilities (assets) $ 8,211 $ (41,693 ) $ (33,482 ) Convertible senior notes, net 486,366 148,546 634,912 Additional paid-in-capital 763,051 (107,810 ) 655,241 Retained earnings 575,965 957 576,922

Contract Balances (Tables)

Contract Balances (Tables)	3 Months Ended
	Mar. 31, 2021
Contract With Customer Asset And Liability [Abstract]
Schedule of Accounts Receivable	Accounts receivable (in thousands) consisted of the following, as of: March 31, December 31, 2021 2020 Billed and billable $ 152,686 $ 200,221 Less: allowance for credit losses (2,060 ) (2,760 ) Accounts receivable, net $ 150,626 $ 197,461
Deferred Revenue and Advance Payments	Deferred revenue and advance payments (in thousands) from customers consisted of the following, as of: March 31, December 31, 2021 2020 Current: Deferred product licenses revenue $ 195 $ 1,495 Deferred subscription services revenue 25,689 26,258 Deferred product support revenue 167,282 156,216 Deferred other services revenue 5,814 7,281 Total current deferred revenue and advance payments $ 198,980 $ 191,250 Non-current: Deferred product licenses revenue $ 67 $ 139 Deferred subscription services revenue 8,317 8,758 Deferred product support revenue 5,401 5,055 Deferred other services revenue 732 710 Total non-current deferred revenue and advance payments $ 14,517 $ 14,662

Convertible Senior Notes (Table

Convertible Senior Notes (Tables)	3 Months Ended
	Mar. 31, 2021
Debt Disclosure [Abstract]
Schedule of Net Carrying Amount of Liability and Equity Component of Convertible Senior Notes	As of March 31, 2021, the net carrying value of the Notes was classified as a long-term liability in the “Convertible senior notes, net” line item in the Company’s Consolidated Balance Sheet. The following is a summary of the Company’s convertible debt instruments as of March 31, 2021 (in thousands): Principal Unamortized Net Carrying Fair Value Amount Issuance Costs Amount Amount Leveling 2025 Notes $ 650,000 $ (14,349 ) $ 635,651 $ 1,258,654 Level 2 2027 Notes 1,050,000 (23,737 ) 1,026,263 877,979 Level 2 Total $ 1,700,000 $ (38,086 ) $ 1,661,914 $ 2,136,633
Schedule of Interest Expense Related to Notes	For the three months ended March 31, 2021 Contractual Amortization of Interest Expense Issuance Costs Total 2025 Notes $ 1,219 $ 739 $ 1,958 2027 Notes 0 433 433 Total $ 1,219 $ 1,172 $ 2,391
Schedule of Future Contractual Payments of Notes	The following table shows the future contractual payments related to the Notes (semi-annual interest payments and principal upon maturity), based on the expected due dates of the various installments as of March 31, 2021 (in thousands): Payments due by period ended March 31, 2025 Notes 2027 Notes Total 2022 $ 4,740 $ 0 $ 4,740 2023 4,875 0 4,875 2024 4,875 0 4,875 2025 4,875 0 4,875 2026 655,078 0 655,078 Thereafter 0 1,050,000 1,050,000 Total $ 674,443 $ 1,050,000 $ 1,724,443

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Company's Deferred Tax Assets, Net of Deferred Tax Liabilities and Valuation Allowance	The following table summarizes the Company’s deferred tax assets, net of deferred tax liabilities and valuation allowance (in thousands), as of: March 31, December 31, 2021 2020 Deferred tax assets, net of deferred tax liabilities $ 117,805 $ (449 ) Valuation allowance (1,345 ) (1,259 ) Deferred tax assets, net of deferred tax liabilities and valuation allowance $ 116,460 $ (1,708 )

Share-based Compensation (Table

Share-based Compensation (Tables)	3 Months Ended
	Mar. 31, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Summary of Stock Option Activity	The following table summarizes the Company’s stock option activity (in thousands, except per share data and years) for the three months ended March 31, 2021: Stock Options Outstanding Weighted Average Aggregate Weighted Average Exercise Price Intrinsic Remaining Contractual Shares Per Share Value Term (Years) Balance as of January 1, 2021 1,157 $ 139.48 Granted 280 $ 691.93 Exercised (159 ) $ 150.43 $ 98,332 Forfeited/Expired (5 ) $ 138.82 Balance as of March 31, 2021 1,273 $ 259.39 Exercisable as of March 31, 2021 564 $ 132.02 $ 308,274 3.9 Expected to vest as of March 31, 2021 709 $ 360.60 $ 229,435 9.0 Total 1,273 $ 259.39 $ 537,709 6.7
Schedule of Range of Exercise Prices per Share	Stock options outstanding as of March 31, 2021 are comprised of the following range of exercise prices per share (in thousands, except per share data and years): Stock Options Outstanding at March 31, 2021 Weighted Average Weighted Average Exercise Price Remaining Contractual Range of Exercise Prices per Share Shares Per Share Term (Years) $121.43 - $200.00 994 $ 137.74 5.8 $600.01 - $700.00 276 $ 691.23 9.9 $700.01 - $756.55 3 $ 756.55 9.9 Total 1,273 $ 259.39 6.7
Assumptions Used in Black-Scholes Pricing Model	The weighted average grant date fair value of stock option awards using the Black-Scholes pricing model was $381.26 for each share subject to a stock option granted during the three months ended March 31, 2021 based on the following assumptions: Three months ended March 31, 2021 Expected term of options in years 6.25 Expected volatility 57.6% - 59.0% Risk-free interest rate 0.8% - 1.0% Expected dividend yield 0.0 %
Summary of Restricted Stock Unit Activity	As of March 31, 2021, there were 90,100 restricted stock units outstanding under the 2013 Equity Plan, which the Company intends to settle in shares. The following table summarizes the Company’s restricted stock unit activity (in thousands) for the periods indicated: Restricted Stock Units Outstanding Aggregate Intrinsic Units Value Balance as of January 1, 2021 74 Granted 17 Vested 0 $ 0 Forfeited (1 ) Balance as of March 31, 2021 90 Expected to vest as of March 31, 2021 90 $ 61,160

Common Equity and Earnings pe_2

Common Equity and Earnings per Share (Tables)	3 Months Ended
	Mar. 31, 2021
Earnings Per Share [Abstract]
Schedule of Weighted Average of Potential Class A Common Stock Excluded from Computation of Earnings Per Share	For the three months ended March 31, 2021 and 2020, the following weighted average shares of potential class A common stock were excluded from the diluted earnings per share calculation because their impact would have been anti-dilutive (in thousands): Three Months Ended March 31, 2021 2020 Stock Options 1,211 1,073 Restricted Stock Units 81 0 Employee Stock Purchase Plan 3 0 2025 Notes 1,633 0 2027 Notes 334 0 Total 3,262 1,073

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2021
Segment Reporting [Abstract]
Revenues and Long-Lived Assets, by Geographic Region	The following table presents total revenues, gross profit, and long-lived assets, excluding long-term deferred tax assets, (in thousands) according to geographic region: Geographic regions: Domestic EMEA Other Regions Consolidated Three months ended March 31, 2021 Total revenues $ 70,207 $ 39,817 $ 12,878 $ 122,902 Gross profit $ 58,931 $ 31,969 $ 9,453 $ 100,353 Three months ended March 31, 2020 Total revenues $ 65,489 $ 35,473 $ 10,462 $ 111,424 Gross profit $ 51,442 $ 27,176 $ 8,261 $ 86,879 As of March 31, 2021 Long-lived assets $ 2,054,669 $ 10,528 $ 8,856 $ 2,074,053 As of December 31, 2020 Long-lived assets $ 1,165,283 $ 11,441 $ 9,765 $ 1,186,489

Recent Accounting Standards - S

Recent Accounting Standards - Summary Impact of ASU 2020-06 on Opening Consolidated Balance Sheet (Detail) - USD ($) $ in Thousands	Mar. 31, 2021	Jan. 01, 2021	Dec. 31, 2020
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Deferred tax liabilities (assets)	$ 1,812		$ 8,211
Convertible senior notes, net	1,661,914		486,366
Additional paid-in capital	685,943		763,051
Retained earnings	$ 466,902		575,965
Pre-ASU 2020-06
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Deferred tax liabilities (assets)			8,211
Convertible senior notes, net			486,366
Additional paid-in capital			763,051
Retained earnings			$ 575,965
ASU 2020-06
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Deferred tax liabilities (assets)		$ (41,693)
Convertible senior notes, net		148,546
Additional paid-in capital		(107,810)
Retained earnings		957
As Adjusted
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Deferred tax liabilities (assets)		(33,482)
Convertible senior notes, net		634,912
Additional paid-in capital		655,241
Retained earnings		$ 576,922

Recent Accounting Standards - A

Recent Accounting Standards - Additional Information (Detail) - USD ($) $ in Thousands	Mar. 31, 2021	Jan. 01, 2021	Dec. 31, 2020
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Retained earnings	$ 466,902		$ 575,965
ASU 2019-12 | Revision of Prior Period, Change in Accounting Principle, Adjustment
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Retained earnings		$ 0

Digital Assets - Additional Inf

Digital Assets - Additional Information (Detail) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2021USD ($)Bitcoin	Mar. 31, 2020USD ($)	Dec. 31, 2020USD ($)Bitcoin
Intangible Assets Net Excluding Goodwill [Abstract]
Number of bitcoins purchased | Bitcoin	20,857
Purchases of digital assets, amount	$ 1,086,375	$ 0
Digital asset impairment losses	$ 194,095	$ 0
Number of carrying value bitcoins | Bitcoin	91,326		70,469
Digital assets	$ 1,946,582		$ 1,054,302
Cumulative impairment of digital assets	264,800		$ 70,700
Sale of digital assets	$ 0

Schedule of Accounts Receivable

Schedule of Accounts Receivable (Detail) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Receivables [Abstract]
Billed and billable	$ 152,686	$ 200,221
Less: allowance for credit losses	(2,060)	(2,760)
Accounts receivable, net	$ 150,626	$ 197,461

Contract Balances - Additional

Contract Balances - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Contract With Customer Asset And Liability [Line Items]
Revenue, Remaining performance obligation	$ 213,500,000
Prepaid Expenses and Other Current Assets
Contract With Customer Asset And Liability [Line Items]
Assets impairment charges	0	$ 0
Contract assets	1,300,000		$ 1,100,000
Current Deferred Revenue and Advanced Payments
Contract With Customer Asset And Liability [Line Items]
Revenue recognized from beginning deferred revenue	$ 70,300,000	$ 69,200,000

Deferred Revenue and Advance Pa

Deferred Revenue and Advance Payments (Detail) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Deferred Revenue Disclosure [Abstract]
Deferred product licenses revenue, Current	$ 195	$ 1,495
Deferred subscription services revenue, Current	25,689	26,258
Deferred product support revenue, Current	167,282	156,216
Deferred other services revenue, Current	5,814	7,281
Total current deferred revenue and advance payments	198,980	191,250
Deferred product licenses revenue, Non-current	67	139
Deferred subscription services revenue, Non-current	8,317	8,758
Deferred product support revenue, Non-current	5,401	5,055
Deferred other services revenue, Non-current	732	710
Total non-current deferred revenue and advance payments	$ 14,517	$ 14,662

Contract Balances - Additiona_2

Contract Balances - Additional Information (Detail1) $ in Millions	Mar. 31, 2021USD ($)
Contract With Customer Asset And Liability [Line Items]
Revenue, Remaining performance obligation	$ 213.5
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2021-04-01
Contract With Customer Asset And Liability [Line Items]
Revenue, Remaining performance obligations, Expected timing of satisfaction, Period	12 months
Revenue, Remaining performance obligation	$ 199
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2022-04-01
Contract With Customer Asset And Liability [Line Items]
Revenue, Remaining performance obligations, Expected timing of satisfaction, Period
Revenue, Remaining performance obligation	$ 14.5

Leases - Additional Information

Leases - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Operating Leased Assets [Line Items]
Operating lease, right of use asset	$ 71,367		$ 73,597
Right of use asset obtained in exchange for operating lease liability	0	$ 0
UNITED STATES
Operating Leased Assets [Line Items]
Operating lease, right of use asset	61,000		62,200
Operating lease, liability	81,200		82,900
UNITED STATES | Northern Virginia Office Space
Operating Leased Assets [Line Items]
Operating lease, right of use asset	58,100		59,000
Operating lease, liability	78,200		79,700
Non-US
Operating Leased Assets [Line Items]
Operating lease, right of use asset	10,400		11,400
Operating lease, liability	$ 11,300		$ 12,200

Convertible Senior Notes - Addi

Convertible Senior Notes - Additional Information (Detail) $ / shares in Units, $ in Thousands	Apr. 01, 2021	Feb. 28, 2021USD ($)d$ / shares	Dec. 31, 2020USD ($)d$ / shares	Mar. 31, 2021USD ($)dshares	Mar. 31, 2020USD ($)
Debt Instrument [Line Items]
Aggregate principal amount | $				$ 1,700,000
Proceeds from convertible senior notes | $				1,050,000	$ 0
Convertible Senior Notes due 2025
Debt Instrument [Line Items]
Aggregate principal amount | $			$ 650,000	$ 650,000
Interest rate, fixed percentage			0.75%
Periodic payment description			The 2025 Notes are senior unsecured obligations of the Company and bear interest at a fixed rate of 0.750% per annum, payable semiannually in arrears on June 15 and December 15 of each year, beginning on June 15, 2021.
Payment start date			Jun. 15, 2021
Debt instrument, maturity date			Dec. 15, 2025
Proceeds from convertible senior notes | $			$ 634,700
Customary offering expense | $			$ 15,300
Effective interest rate percentage			1.23%
Convertible Senior Notes due 2025 | Fundamental Change
Debt Instrument [Line Items]
Debt instrument, redemption price, percentage of principal amount redeemed			100.00%
Convertible Senior Notes due 2025 | Events of Default
Debt Instrument [Line Items]
Percentage of principal accrued and unpaid interest			100.00%
Convertible Senior Notes due 2025 | Minimum | Events of Default
Debt Instrument [Line Items]
Debt instrument, redemption price, percentage of principal amount redeemed			25.00%
Convertible Senior Notes due 2025 | Class A Common Stock
Debt Instrument [Line Items]
Initial conversion rate			2.5126
Price per share | $ / shares			$ 1,000
Initial conversion price | $ / shares			$ 397.99
Number of shares convertible from notes | shares				1,633,190
Debt instrument, convertible, trading days				20
Debt instrument, convertible, consecutive trading days				30
Convertible Senior Notes due 2025 | Class A Common Stock | Early Conversion by Noteholders before June 15, 2025
Debt Instrument [Line Items]
Debt instrument, convertible, trading days			20
Debt instrument, convertible, consecutive trading days			30
Convertible Senior Notes due 2025 | Class A Common Stock | Early Conversion by Noteholders before June 15, 2025 | Subsequent Event
Debt Instrument [Line Items]
Debt instrument, convertible, earliest date	Apr. 1, 2021
Convertible Senior Notes due 2025 | Class A Common Stock | Early Conversion by Noteholders before June 15, 2025
Debt Instrument [Line Items]
Debt instrument, convertible, trading days			5
Debt instrument, convertible, consecutive trading days			5
Trading price per share | $ / shares			$ 1,000
Convertible Senior Notes due 2025 | Class A Common Stock | Redeemable by Company after December 20, 2023
Debt Instrument [Line Items]
Debt instrument, convertible, earliest date			Dec. 20, 2023
Debt instrument, convertible, trading days			20
Debt instrument, convertible, consecutive trading days			30
Debt instrument, redemption price, percentage of principal amount redeemed			100.00%
Convertible Senior Notes due 2025 | Class A Common Stock | Minimum
Debt Instrument [Line Items]
Conversion price percentage applicable trading days				130.00%
Convertible Senior Notes due 2025 | Class A Common Stock | Minimum | Early Conversion by Noteholders before June 15, 2025
Debt Instrument [Line Items]
Conversion price percentage applicable trading days			130.00%
Convertible Senior Notes due 2025 | Class A Common Stock | Minimum | Redeemable by Company after December 20, 2023
Debt Instrument [Line Items]
Conversion price percentage applicable trading days			130.00%
Convertible Senior Notes due 2025 | Class A Common Stock | Maximum [Member] | Early Conversion by Noteholders before June 15, 2025
Debt Instrument [Line Items]
Conversion price percentage applicable trading days			98.00%
Convertible Senior Notes due 2027
Debt Instrument [Line Items]
Aggregate principal amount | $		$ 1,050,000		$ 1,050,000
Interest rate, fixed percentage		0.00%
Periodic payment description		The 2027 Notes are senior unsecured obligations of the Company and do not bear regular interest. However, holders of the 2027 Notes may receive special interest under specified circumstances as outlined in the indenture relating to the issuance of the 2027 Notes (the “2027 Notes Indenture”). Any special interest is payable semiannually in arrears on February 15 and August 15 of each year, beginning on August 15, 2021
Payment start date		Aug. 15, 2021
Debt instrument, maturity date		Feb. 15, 2027
Proceeds from convertible senior notes | $				1,026,000
Customary offering expense | $				$ 24,200
Effective interest rate percentage				0.39%
Convertible Senior Notes due 2027 | Fundamental Change
Debt Instrument [Line Items]
Debt instrument, redemption price, percentage of principal amount redeemed			100.00%
Convertible Senior Notes due 2027 | Events of Default
Debt Instrument [Line Items]
Percentage of principal accrued and unpaid interest		100.00%
Convertible Senior Notes due 2027 | Minimum | Events of Default
Debt Instrument [Line Items]
Debt instrument, redemption price, percentage of principal amount redeemed		25.00%
Convertible Senior Notes due 2027 | Class A Common Stock
Debt Instrument [Line Items]
Initial conversion rate		0.6981
Price per share | $ / shares		$ 1,000
Initial conversion price | $ / shares		$ 1,432.46
Number of shares convertible from notes | shares				733,005
Convertible Senior Notes due 2027 | Class A Common Stock | Early Conversion by Noteholders before August 15, 2026
Debt Instrument [Line Items]
Debt instrument, convertible, earliest date		Jul. 1, 2021
Debt instrument, convertible, trading days		5
Debt instrument, convertible, consecutive trading days		5
Trading price per share | $ / shares		$ 1,000
Convertible Senior Notes due 2027 | Class A Common Stock | Redeemable by Company after February 20, 2024
Debt Instrument [Line Items]
Debt instrument, convertible, earliest date		Feb. 20, 2024
Debt instrument, convertible, trading days		20
Debt instrument, convertible, consecutive trading days		30
Debt instrument, redemption price, percentage of principal amount redeemed		100.00%
Convertible Senior Notes due 2027 | Class A Common Stock | Minimum | Redeemable by Company after February 20, 2024
Debt Instrument [Line Items]
Conversion price percentage applicable trading days		130.00%
Convertible Senior Notes due 2027 | Class A Common Stock | Maximum [Member] | Early Conversion by Noteholders before August 15, 2026
Debt Instrument [Line Items]
Conversion price percentage applicable trading days		98.00%

Convertible Senior Notes - Sche

Convertible Senior Notes - Schedule of Net Carrying Amount of Liability Component (Detail) - USD ($) $ in Thousands	Mar. 31, 2021	Feb. 28, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Aggregate principal amount	$ 1,700,000
Unamortized Issuance Costs	(38,086)
Net Carrying Amount	1,661,914		$ 486,366
Fair Value	2,136,633
Convertible Senior Notes due 2025
Debt Instrument [Line Items]
Aggregate principal amount	650,000		$ 650,000
Unamortized Issuance Costs	(14,349)
Net Carrying Amount	635,651
Fair Value	1,258,654
Convertible Senior Notes due 2027
Debt Instrument [Line Items]
Aggregate principal amount	1,050,000	$ 1,050,000
Unamortized Issuance Costs	(23,737)
Net Carrying Amount	1,026,263
Fair Value	$ 877,979

Convertible Senior Notes - Sc_2

Convertible Senior Notes - Schedule of Interest Expense Related to Notes (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Debt Instrument [Line Items]
Contractual Interest Expense	$ 1,219
Amortization of Issuance Costs	1,172	$ 0
Total interest expense	2,391
Convertible Senior Notes due 2025
Debt Instrument [Line Items]
Contractual Interest Expense	1,219
Amortization of Issuance Costs	739
Total interest expense	1,958
Convertible Senior Notes due 2027
Debt Instrument [Line Items]
Contractual Interest Expense	0
Amortization of Issuance Costs	433
Total interest expense	$ 433

Convertible Senior Notes - Sc_3

Convertible Senior Notes - Schedule of Future Contractual Payments of Notes (Detail) $ in Thousands	Mar. 31, 2021USD ($)
Debt Instrument [Line Items]
2022	$ 4,740
2023	4,875
2024	4,875
2025	4,875
2026	655,078
Thereafter	1,050,000
Total	1,724,443
Convertible Senior Notes due 2025
Debt Instrument [Line Items]
2022	4,740
2023	4,875
2024	4,875
2025	4,875
2026	655,078
Thereafter	0
Total	674,443
Convertible Senior Notes due 2027
Debt Instrument [Line Items]
2022	0
2023	0
2024	0
2025	0
2026	0
Thereafter	1,050,000
Total	$ 1,050,000

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - Feb. 06, 2020 R$ in Millions, $ in Millions	USD ($)	BRL (R$)
Commitments And Contingencies Disclosure [Abstract]
Maximum amount frozen in Brazilian subsidiary bank accounts	$ 2.3	R$ 10.0

Treasury Stock - Additional Inf

Treasury Stock - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2021	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2020
Equity, Class of Treasury Stock [Line Items]
Treasury stock, shares repurchased value		$ 61,349,000	$ 11,128,000	$ 50,747,000
Treasury stock, shares	8,684,000				8,684,000
Treasury stock, cost	$ 782,104,000				$ 782,104,000
Class A
Equity, Class of Treasury Stock [Line Items]
Treasury stock, shares repurchased		0	0	0
Treasury stock, shares repurchased value		$ 0	$ 0	$ 0
Class A | Share Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Shares repurchased program expiration date	Apr. 29, 2023
Stock authorized to repurchase by board of directors	$ 800,000,000
Treasury stock, shares repurchased	0			354,633
Shares repurchased, average price per share				$ 143.10
Treasury stock, shares repurchased value				$ 50,700,000
Treasury stock, shares	5,674,226
Shares repurchased, average price per share	$ 104.13
Treasury stock, cost	$ 590,900,000
Stock remaining available for repurchase	$ 209,100,000

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2018	Dec. 31, 2017
Income Taxes
Unrecognized tax benefits	$ 4,600
Unrecognized tax benefits would impact the effective tax rate	4,400
Cumulative accrued interest	$ 300
Effective tax rate from operations	40.30%	70.40%
(Benefit from) provision for income taxes	$ (74,264)	$ 1,560
Effective U.S corporate tax rate	21.00%				35.00%
Provision for transition tax				$ 37,200	$ 40,300
Measurement period adjustment to reduce transition tax				$ (3,100)
Transition tax, unpaid	$ 28,000
Transition Tax over an eight-year period beginning	2018
Digital asset impairment losses	$ 194,095	$ 0
Tax benefit of impairment losses	54,300
Tax benefit from stock options exercise	22,100
Other Long-term Liabilities
Income Taxes
Transition tax, unpaid	25,100
Accounts Payable, Accrued Expenses and Operating Lease Liabilities
Income Taxes
Transition tax, unpaid	3,000
U.S
Income Taxes
Cash and cash equivalents and short-term investments	$ 22,200		$ 13,700
U.S | Earliest Tax Year
Income Taxes
Tax years subject to examination	2016
Italy | Earliest Tax Year
Income Taxes
Tax years subject to examination	2016
Poland | Earliest Tax Year
Income Taxes
Tax years subject to examination	2015
Spain | Earliest Tax Year
Income Taxes
Tax years subject to examination	2017
United Kingdom | Earliest Tax Year
Income Taxes
Tax years subject to examination	2017
Germany | Earliest Tax Year
Income Taxes
Tax years subject to examination	2016
Foreign
Income Taxes
Cash and cash equivalents and short-term investments	$ 60,300		46,000
Foreign earnings repatriated	25,500		$ 186,600
Undistributed foreign earnings	$ 119,300

Company's Deferred Tax Assets,

Company's Deferred Tax Assets, Net of Deferred Tax Liabilities and Valuation Allowance (Detail) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Deferred tax assets, net of deferred tax liabilities	$ 117,805	$ (449)
Valuation allowance	(1,345)	(1,259)
Deferred tax assets, net of deferred tax liabilities and valuation allowance	$ 116,460
Deferred tax assets, net of deferred tax liabilities and valuation allowance		$ (1,708)

Share-based Compensation - Addi

Share-based Compensation - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Apr. 30, 2021	Dec. 31, 2020
Stock Option Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options outstanding, shares	1,273,000			1,157,000
Stock option awards granted	280,000
RSU
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense expected to be recognized	3 years 9 months 18 days
Restricted stock units outstanding	90,000			74,000
Vested	0
Granted, Weighted Average Grant Date Fair Value (in dollars per share)	$ 691.99
Unrecognized share-based compensation expense	$ 24.2
Granted	17,000
2013 Equity Plan | Stock Option Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options vested	78,125
Aggregate fair value of stock option vested	$ 4.5
Weighted average grant date fair value of stock option awards	$ 381.26
Share-based compensation expense recognized	$ 5.3	$ 3.2
Unrecognized share-based compensation expense	$ 122.9
Unrecognized compensation expense expected to be recognized	3 years 8 months 12 days
Stock option awards granted	0
2013 Equity Plan | RSU
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense recognized	$ 1.2
Restricted stock units outstanding	90,100
2013 Equity Plan | Other Stock-based Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted	9,000
Outstanding	14,000
2013 Equity Plan | Cash Settled RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted	900
Outstanding	900
2013 Equity Plan | Other Stock Based Awards and Cash Settled RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense recognized	$ 0.9
Unrecognized compensation expense expected to be recognized	3 years
Unrecognized share-based compensation expense	$ 5.4
2013 Equity Plan | Class A | Stock Option Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options outstanding, shares	1,273,304
2013 Equity Plan | Class A | Employees, Officers, and Directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation, stock authorized	2,300,000
Shares of class A common stock reserved and available for future issuance	115,138
2013 Equity Plan | Subsequent Event | Class A | Employees, Officers, and Directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation, stock authorized			2,750,000
2021 Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense recognized	$ 0.4
Unrecognized compensation expense expected to be recognized	4 months 24 days
Unrecognized share-based compensation expense	$ 1.3
Percentage of discounted share purchase right	15.00%
Shares, Issued	0
2021 Employee Stock Purchase Plan | Class A
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common Stock Capital Shares Reserved For Future Issuance	100,000
Share Purchase Price Description	shares are purchased at a price equal to 85% of the lesser of the closing price of the Company’s class A common stock on the first or last business day of the offering period, respectively
Purchase price of common stock, percentage of fair market value	85.00%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Method Used	the intrinsic value of the 15% discounted share purchase rights and the fair value of the look-back provision using the Black-Scholes valuation model, recognized on a straight-line basis over the offering period. The grant date is the offering period commencement date.

Summary of Stock Option Activit

Summary of Stock Option Activity (Detail) - Stock Option Awards $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)$ / sharesshares
Options outstanding, shares
Beginning Balance | shares	1,157
Granted | shares	280
Exercised | shares	(159)
Forfeited/Expired | shares	(5)
Ending Balance | shares	1,273
Exercisable as of March 31, 2021 | shares	564
Expected to vest as of March 31, 2021 | shares	709
Total | shares	1,273
Weighted Average Exercise Price Per Share
Beginning Balance | $ / shares	$ 139.48
Granted | $ / shares	691.93
Exercised | $ / shares	150.43
Forfeited/Expired | $ / shares	138.82
Ending Balance | $ / shares	259.39
Exercisable as of March 31, 2021 | $ / shares	132.02
Expected to vest as of March 31, 2021 | $ / shares	360.60
Total | $ / shares	$ 259.39
Aggregate Intrinsic Value
Exercised | $	$ 98,332
Exercisable as of March 31, 2021 | $	308,274
Expected to vest as of March 31, 2021 | $	229,435
Total | $	$ 537,709
Weighted Average Remaining Contractual Term (Years)
Exercisable as of March 31, 2021	3 years 10 months 24 days
Expected to vest as of March 31, 2021	9 years
Total	6 years 8 months 12 days

Schedule of Range of Exercise P

Schedule of Range of Exercise Prices per Share (Detail) - Stock Option Awards shares in Thousands	3 Months Ended
	Mar. 31, 2021$ / sharesshares
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Shares, Stock Options Outstanding | shares	1,273
Weighted Average Exercise Price Per Share, Stock Options Outstanding	$ 259.39
Weighted Average Remaining Contractual Term (Years), Stock Options Outstanding	6 years 8 months 12 days
121.43 - 200.00
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise Prices per Share, minimum	$ 121.43
Range of Exercise Prices per Share, maximum	$ 200
Shares, Stock Options Outstanding | shares	994
Weighted Average Exercise Price Per Share, Stock Options Outstanding	$ 137.74
Weighted Average Remaining Contractual Term (Years), Stock Options Outstanding	5 years 9 months 18 days
600.01 - 700.00
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise Prices per Share, minimum	$ 600.01
Range of Exercise Prices per Share, maximum	$ 700
Shares, Stock Options Outstanding | shares	276
Weighted Average Exercise Price Per Share, Stock Options Outstanding	$ 691.23
Weighted Average Remaining Contractual Term (Years), Stock Options Outstanding	9 years 10 months 24 days
700.01 - 756.55
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise Prices per Share, minimum	$ 700.01
Range of Exercise Prices per Share, maximum	$ 756.55
Shares, Stock Options Outstanding | shares	3
Weighted Average Exercise Price Per Share, Stock Options Outstanding	$ 756.55
Weighted Average Remaining Contractual Term (Years), Stock Options Outstanding	9 years 10 months 24 days

Assumptions Used in Black-Schol

Assumptions Used in Black-Scholes Pricing Model (Detail) - Stock Option Awards	3 Months Ended
	Mar. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term of options in years	6 years 3 months
Expected volatility, minimum	57.60%
Expected volatility, maximum	59.00%
Risk-free interest rate, minimum	0.80%
Risk-free interest rate, maximum	1.00%
Expected dividend yield	0.00%

Summary of Restricted Stock Uni

Summary of Restricted Stock Unit Activity (Detail) - RSU shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)shares
Number of Shares/Units
Beginning Balance	74
Granted	17
Vested	0
Forfeited	(1)
Ending Balance	90
Expected to vest as of March 31, 2021	90
Aggregate Intrinsic Value
Vested | $	$ 0
Expected to vest as of March 31, 2021 | $	$ 61,160

Common Equity and Earnings pe_3

Common Equity and Earnings per Share - Additional Information (Detail) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Class of Stock
Payments of dividends, common stock	$ 0	$ 0
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Class A
Class of Stock
Common stock, votes per share	one
Class B Convertible
Class of Stock
Common stock, votes per share	10

Common Equity and Earnings pe_4

Common Equity and Earnings per Share - Schedule of Weighted Average of Potential Class A Common Stock Excluded from Computation of Earnings Per Share (Detail) - Class A - shares shares in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Class of Stock
Weighted shares of potential class A stock excluded from calculation of diluted earnings per share	3,262	1,073
2025 Notes
Class of Stock
Weighted shares of potential class A stock excluded from calculation of diluted earnings per share	1,633	0
2027 Notes
Class of Stock
Weighted shares of potential class A stock excluded from calculation of diluted earnings per share	334	0
Stock Options
Class of Stock
Weighted shares of potential class A stock excluded from calculation of diluted earnings per share	1,211	1,073
RSU
Class of Stock
Weighted shares of potential class A stock excluded from calculation of diluted earnings per share	81	0
Employee Stock Purchase Plan
Class of Stock
Weighted shares of potential class A stock excluded from calculation of diluted earnings per share	3	0

Segment Information - Additiona

Segment Information - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2021SegmentCountryCustomer	Mar. 31, 2020CountryCustomer	Dec. 31, 2020Country
Segment Reporting Information
Number of operating segments | Segment	1
Geographic Concentration Risk
Segment Reporting Information
Number Of Individual Country accounted for 10% or more of total revenues	0	0
Number Of Individual country accounted for 10% or more of total consolidated assets	0		0
Customer Concentration Risk | Sales Revenue, Goods, Net
Segment Reporting Information
Number Of Individual Customer accounted for 10% or more of total consolidated revenues | Customer	0	0

Total Revenues Gross Profit and

Total Revenues Gross Profit and Long Lived Assets Excluding Long Term Deferred Tax Assets (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Revenues from External Customers and Long-Lived Assets
Total revenues	$ 122,902	$ 111,424
Gross profit	100,353	86,879
Long-lived assets	2,074,053		$ 1,186,489
Domestic
Revenues from External Customers and Long-Lived Assets
Total revenues	70,207	65,489
Gross profit	58,931	51,442
Long-lived assets	2,054,669		1,165,283
EMEA
Revenues from External Customers and Long-Lived Assets
Total revenues	39,817	35,473
Gross profit	31,969	27,176
Long-lived assets	10,528		11,441
Other Regions
Revenues from External Customers and Long-Lived Assets
Total revenues	12,878	10,462
Gross profit	9,453	$ 8,261
Long-lived assets	$ 8,856		$ 9,765

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - 2013 Equity Plan - Class A - Employees, Officers, and Directors - shares	Apr. 30, 2021	Mar. 31, 2021
Subsequent Event [Line Items]
Share-based compensation, stock authorized		2,300,000
Subsequent Event
Subsequent Event [Line Items]
Share-based compensation, stock authorized	2,750,000