ON24 (ONTF) 10-Q 10 May 23 2023 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2023	May 04, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2023
Document Transition Report	false
Entity File Number	001-39965
Entity Registrant Name	ON24, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	94-3292599
Entity Address, Address Line One	50 Beale Street, 8th Floor
Entity Address, City or Town	San Francisco
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94105
City Area Code	415
Local Phone Number	369-8000
Title of 12(b) Security	Common Stock, par value $0.0001 per share
Trading Symbol	ONTF
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		45,864,254
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
Entity Central Index Key	0001110611
Current Fiscal Year End Date	--12-31

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Current assets
Cash and cash equivalents	$ 100,777	$ 26,996
Marketable securities	214,908	301,125
Accounts receivable, net of allowances and reserves of $3,267 and $2,930 as of March 31, 2023 and December 31, 2022, respectively	33,451	43,757
Deferred contract acquisition costs, current	12,571	13,136
Prepaid expenses and other current assets	8,431	6,281
Total current assets	370,138	391,295
Property and equipment, net	5,957	7,212
Operating right-of-use asset	5,119	5,606
Intangible asset, net	1,711	1,979
Deferred contract acquisition costs, non-current	17,991	17,773
Other long-term assets	1,486	1,608
Total assets	402,402	425,473
Current liabilities
Accounts payable	3,187	4,611
Accrued and other current liabilities	17,322	18,465
Deferred revenue	81,166	83,453
Finance lease liabilities, current	1,245	1,554
Operating lease liabilities, current	2,644	2,648
Total current liabilities	105,564	110,731
Operating lease liabilities, non-current	4,389	5,040
Other long-term liabilities	1,513	1,741
Total liabilities	111,466	117,512
Commitments and contingencies
Stockholders’ equity
Common stock, $0.0001 par value per share; 500,000,000 shares authorized as of March 31, 2023 and December 31, 2022; 46,847,621 and 47,554,801 shares issued and outstanding as of March 31, 2023 and December 31, 2022, respectively	5	5
Additional paid-in capital	562,151	562,555
Accumulated deficit	(271,317)	(253,727)
Accumulated other comprehensive income (loss)	97	(872)
Total stockholders’ equity	290,936	307,961
Total liabilities and stockholders’ equity	$ 402,402	$ 425,473

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Accounts receivable, allowances and reserves	$ 3,267	$ 2,930
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, authorized (in shares)	500,000,000	500,000,000
Common stock, issued (in shares)	46,847,621	47,554,801
Common stock, outstanding (in shares)	46,847,621	47,554,801

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Revenue:
Total revenue	$ 43,063	$ 48,492
Cost of revenue:
Total cost of revenue	13,206	12,944
Gross profit	29,857	35,548
Operating expenses:
Sales and marketing	24,417	29,193
Research and development	11,099	10,644
General and administrative	14,278	10,877
Total operating expenses	49,794	50,714
Loss from operations	(19,937)	(15,166)
Interest expense	29	54
Other (income) expense, net	(2,572)	177
Loss before provision for income taxes	(17,394)	(15,397)
Provision for income taxes	196	82
Net loss	$ (17,590)	$ (15,479)
Net income (loss) per share attributable to common stockholders:
Basic (in dollars per share)	$ (0.37)	$ (0.32)
Diluted (in dollars per share)	$ (0.37)	$ (0.32)
Weighted-average shares used in computing net income (loss) per share attributable to common stockholders:
Basic (in shares)	47,304,983	47,631,813
Diluted (in shares)	47,304,983	47,631,813
Subscription and other platform
Revenue:
Total revenue	$ 39,364	$ 43,477
Cost of revenue:
Total cost of revenue	9,889	9,602
Professional services
Revenue:
Total revenue	3,699	5,015
Cost of revenue:
Total cost of revenue	$ 3,317	$ 3,342

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Statement of Comprehensive Income [Abstract]
Net loss	$ (17,590)	$ (15,479)
Other comprehensive income (loss)
Foreign currency translation adjustment, net of tax	(9)	21
Unrealized gain (loss) on available for sale debt securities, net of tax	978	(1,391)
Total other comprehensive income (loss)	969	(1,370)
Total comprehensive income (loss)	$ (16,621)	$ (16,849)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders’ Equity - USD ($) $ in Thousands	Total	Common Stock	Additional paid-in capital	Accumulated Deficit	Accumulated other comprehensive income (loss)
Beginning balance, shares at Dec. 31, 2021		47,727,346
Beginning balance at Dec. 31, 2021	$ 355,090	$ 5	$ 550,839	$ (195,519)	$ (235)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Repurchase of common stock (in shares)	(964,895)	(964,895)
Repurchase of common stock	$ (14,293)	$ 0	(14,293)
Issuance of common stock upon exercise of stock options (in shares)		415,918
Issuance of common stock upon exercise of stock options	847	$ 0	847
Issuance of common stock upon release of restricted stock units (in shares)		230,477
Issuance of common stock upon release of restricted stock units	0	$ 0
Payment for employee tax withholding upon net share settlement on equity awards	(1,756)		(1,756)
Stock-based compensation expense	9,507		9,507
Other comprehensive income (loss)	(1,370)				(1,370)
Net loss	(15,479)			(15,479)
Ending balance, shares at Mar. 31, 2022		47,408,846
Ending balance at Mar. 31, 2022	$ 332,546	$ 5	545,144	(210,998)	(1,605)
Beginning balance, shares at Dec. 31, 2022	47,554,801	47,554,801
Beginning balance at Dec. 31, 2022	$ 307,961	$ 5	562,555	(253,727)	(872)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Repurchase of common stock (in shares)	(1,279,127)	(1,279,127)
Repurchase of common stock	$ (10,720)	$ 0	(10,720)
Excise taxes on repurchase of common stock	$ (60)		(60)
Issuance of common stock upon exercise of stock options (in shares)	107,851	107,851
Issuance of common stock upon exercise of stock options	$ 255	$ 0	255
Issuance of common stock upon release of restricted stock units (in shares)		464,096
Issuance of common stock upon release of restricted stock units	0	$ 0
Stock-based compensation expense	10,121		10,121
Other comprehensive income (loss)	969				969
Net loss	$ (17,590)			(17,590)
Ending balance, shares at Mar. 31, 2023	46,847,621	46,847,621
Ending balance at Mar. 31, 2023	$ 290,936	$ 5	$ 562,151	$ (271,317)	$ 97

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Cash flows from operating activities:
Net loss	$ (17,590)	$ (15,479)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	1,417	1,207
Stock-based compensation expense	10,121	9,507
Amortization of deferred contract acquisition costs	3,893	4,067
Provision for allowance for doubtful accounts and billing reserve	901	260
Non-cash lease expense	497	519
Other	(1,698)	254
Changes in operating assets and liabilities:
Accounts receivable	9,405	3,779
Deferred contract acquisition costs	(3,546)	(3,627)
Prepaid expenses and other assets	(2,069)	(3,555)
Accounts payable	(1,353)	1,742
Accrued liabilities	(1,089)	(752)
Deferred revenue	(2,287)	(4,098)
Other non-current liabilities	(769)	(594)
Net cash used in operating activities	(4,167)	(6,770)
Cash flows from investing activities:
Purchase of property and equipment	(178)	(984)
Purchase of marketable securities	(119,591)	(60,271)
Proceeds from maturities of marketable securities	199,210	14,708
Proceeds from sale of marketable securities	9,321	0
Net cash provided by (used in) investing activities	88,762	(46,547)
Cash flows from financing activities:
Proceeds from exercise of stock options	255	1,157
Payment of tax withholding obligations related to net share settlements on equity awards	0	(1,756)
Payment for repurchase of common stock	(10,720)	(13,074)
Repayment of equipment loans	(71)	(66)
Repayment of finance lease obligations	(411)	(417)
Net cash used in financing activities	(10,947)	(14,156)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	130	27
Net increase (decrease) in cash, cash equivalents and restricted cash	73,778	(67,446)
Cash, cash equivalents and restricted cash, beginning of period	27,169	165,043
Cash, cash equivalents and restricted cash, end of period	100,947	97,597
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents [Abstract]
Cash and cash equivalents	100,777	97,500
Restricted cash included in other assets, non-current	170	97
Total cash, cash equivalent, and restricted cash	100,947	97,597
Supplemental disclosures of cash flow information:
Cash paid for taxes, net of refunds	99	31
Cash paid for interest	$ 21	$ 46

Description of Business and Sig

Description of Business and Significant Accounting Policies	3 Months Ended
	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business and Significant Accounting Policies	Description of Business and Significant Accounting Policies Description of Business ON24, Inc. and its subsidiaries (together, ON24 or the Company) provides a leading, cloud-based platform for digital engagement that delivers insights for revenue growth through interactive webinar experiences, virtual event experiences and multimedia content experiences. The Company’s platform offers a portfolio of interactive, personalized and content-rich digital experience products that creates and captures actionable, real-time data at scale from millions of professionals every month to provide businesses with buying signals and behavioral insights to efficiently convert prospects into customers. The Company was incorporated in the state of Delaware in January 1998 as NewsDirect, Inc. and in December 1998 changed its name to ON24, Inc. The Company is headquartered in San Francisco, California. Basis of Presentation T he accompanying condensed consolidated financial statements include the accounts of ON24 Inc. and its subsidiaries and have been prepared in accordance with generally accepted accounting principles in the United States of America (U.S. GAAP) and applicable rules and regulations of the Securities and Exchange Commission (SEC) for interim financial reporting. Certain information and note disclosures included in the Company’s annual financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. Therefore, these condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes included in the Company’s annual report on Form 10-K for the year ended December 31, 2022. In the opinion of management, the condensed consolidated financial statements reflect all adjustments that are normal and recurring in nature and necessary for fair financial statement presentation. All intercompany transactions and balances have been eliminated in consolidation. All intercompany transactions and balances have been eliminated in consolidation. Use of Estimates The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Significant items subject to such estimates and assumptions include, but are not limited to, the estimated expected benefit period for deferred contract acquisition costs, the determination of standalone selling price for the Company’s performance obligations, the allowance for doubtful accounts and billing reserve, the useful lives of long-lived assets, the assumptions used to measure stock-based compensation, the valuation of deferred income tax assets and uncertain tax positions. Actual results could differ from those estimates. Significant Accounting Policies The Company’s significant accounting policies are disclosed in its Annual Report on Form 10-K for the year ended December 31, 2022.There have been no significant changes to these policies during the three months ended March 31, 2023 Recently Adopted Accounting Standards In June 2016, FASB issued ASU No. 2016-13, Financial Instruments Topic 326: Credit Losses Measurement of Credit Losses on Financial Instruments , as amended, which requires an entity to measure all expected credit losses for financial instruments held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts utilizing a new impairment model known as the current expected credit loss (CECL) model. This new standard also requires credit losses related to available for sale debt securities to be recorded as an allowance through net income rather than by reducing the carrying amount under the other-than-temporary-impairment model. The Company adopted ASU No. 2016-13 on January 1, 2023 and the impact of the adoption was not material to the Company’s condensed consolidated financial statements and related disclosures.

Revenue

Revenue	3 Months Ended
	Mar. 31, 2023
Revenue from Contract with Customer [Abstract]
Revenue	Revenue Disaggregation of Revenue The following table depicts the disaggregation of revenue by geographic region based on the shipping address of customers (in thousands): Three Months Ended March 31, 2023 2022 United States $ 33,332 $ 36,549 EMEA 6,864 8,147 Other 2,867 3,796 Total revenue $ 43,063 $ 48,492 No individual foreign country contributed more than 10% of revenue for the three months ended March 31, 2023 and 2022. No single customer accounted for 10% or more of the total revenue during the three months ended March 31, 2023 and 2022. Additionally, no single customer accounted for 10% or more of accounts receivable as of March 31, 2023 and December 31, 2022. Contract Balances Accounts receivable : The Company records accounts receivable when the Company has a contractual right to consideration. In some arrangements, a right to consideration for the Company’s performance under the customer contract may occur before invoicing to the customer, resulting in an unbilled receivable. As of March 31, 2023 and December 31, 2022, unbilled receivables were included within accounts receivable, net of allowance for doubtful accounts and billing reserves on the condensed consolidated balance sheets and were not material. Contract assets: The Company records a contract asset when the Company has satisfied a performance obligation but does not yet have an unconditional right to consideration. Contract assets are included in prepaid expenses and other current assets in the condensed consolidated balance sheets and were not material as of March 31, 2023 and December 31, 2022. Contract liabilities : The Company defers its revenue when the Company has the right to invoice in advance of performance under a customer contract. The current portion of deferred revenue balances is recognized during the following 12-month period and the remaining portion is recorded as noncurrent, which is included in other long-term liabilities on the condensed consolidated balance sheet. The amount of revenue recognized in the three months ended March 31, 2023 that was included in deferred revenue at the beginning of the period was $35.0 million. Remaining Performance Obligations The terms of the Company’s subscription agreements are primarily annual and, to a lesser extent, multi-year. The Company may bill for the full term in advance or on an annual, quarterly or monthly basis, depending on the terms of the agreement. As of March 31, 2023, the aggregate amount of the transaction price allocated to remaining performance obligations was $142.3 million, which consists of both billed consideration in the amount of $81.9 million and unbilled consideration in the amount of $60.4 million that the Company expects to recognize as revenue. As of March 31, 2023, the Company expects to recognize 79% of its remaining performance obligations as revenue over the subsequent 12 months and the remainder thereafter. Costs to Obtain a Contract The Company capitalizes sales commissions and associated payroll taxes paid to internal sales personnel and third-party referral fees that are incremental costs resulting from obtaining a contract with a customer. These costs are recorded as deferred contract acquisition costs on the condensed consolidated balance sheets. The Company determines whether costs should be deferred based on its sales compensation plans and if the commissions are incremental and would not have occurred absent the customer contract. Sales commissions paid upon the initial acquisition of a customer contract are amortized over an estimated period of benefit of five years as the Company specifically anticipates renewals of customer contracts and commissions paid on renewal contracts are not commensurate with commissions paid on new customer contracts. Sales commissions paid upon renewal of customer contracts are amortized over the contractual renewal term. Amortization is recognized on a straight-line basis commensurate with the pattern of revenue recognition. Sales commissions paid related to professional services are amortized over the expected service period. The Company determines the period of benefit for commissions paid for the acquisition of the initial customer contract by taking into consideration the initial estimated customer life and the technological life of its platform and related significant features. Amortization of deferred contract acquisition costs was $3.9 million and $4.1 million for the three months ended March 31, 2023 and 2022, respectively, and is included in sales and marketing expense in the condensed consolidated statements of operations. The Company periodically reviews these deferred contract acquisition costs to determine whether events or changes in circumstances have occurred that could impact the period of benefit. The Company had no impairment losses relating to deferred contract acquisition costs during the periods presented.

Marketable Securities

Marketable Securities	3 Months Ended
	Mar. 31, 2023
Marketable Securities [Abstract]
Marketable Securities	Marketable Securities M arketable securities consisted of the following as of the periods presented (in thousands): March 31, 2023 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Marketable Securities U.S. Treasury securities $ 135,410 $ 86 $ (76) $ 135,420 U.S. Agency securities 37,605 72 (5) 37,672 Certificates of deposit 17,353 — (67) 17,286 Corporate debt securities 6,213 1 (31) 6,183 Commercial paper 18,357 2 (12) 18,347 Total marketable securities $ 214,938 $ 161 $ (191) $ 214,908 December 31, 2022 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Marketable Securities U.S. Treasury securities $ 219,895 $ 10 $ (801) $ 219,104 U.S. Agency securities 19,247 19 (2) 19,264 Certificates of deposit 26,624 4 (119) 26,509 Corporate debt securities 13,934 — (86) 13,848 Commercial paper 22,433 10 (43) 22,400 Total marketable securities $ 302,133 $ 43 $ (1,051) $ 301,125 The Company’s marketable securities have been classified as available for sale. All available for sale debt securities are available for use in current operations. Accordingly, they have been classified as current. Marketable securities that have been in a continuous unrealized loss position consisted of the following as of the periods presented (in thousands): March 31, 2023 Less Than 12 Months 12 Months or More Total Fair Value Gross Unrealized Loss Fair Value Gross Unrealized Loss Fair Value Gross Unrealized Loss U.S. Treasury securities $ 27,244 $ (55) $ 978 $ (21) $ 28,222 $ (76) U.S. Agency securities 3,195 (5) — — 3,195 (5) Certificates of deposit 15,686 (67) — — 15,686 (67) Corporate debt securities 339 (2) 3,876 (29) 4,215 (31) Commercial paper 13,364 (12) — — 13,364 (12) Total $ 59,828 $ (141) $ 4,854 $ (50) $ 64,682 $ (191) December 31, 2022 Less Than 12 Months 12 Months or More Total Fair Value Gross Unrealized Loss Fair Value Gross Unrealized Loss Fair Value Gross Unrealized Loss U.S. Treasury securities $ 116,161 $ (151) $ 77,173 $ (650) $ 193,334 $ (801) U.S. Agency securities 3,197 (2) — — 3,197 (2) Certificates of deposit 22,402 (119) — — 22,402 (119) Corporate debt securities 4,253 (13) 8,345 (73) 12,598 (86) Commercial paper 12,853 (43) — — 12,853 (43) Total $ 158,866 $ (328) $ 85,518 $ (723) $ 244,384 $ (1,051) The Company periodically evaluates whether any security has experienced credit-related declines in fair value. The Company did not recognize any credit loss related to its available for sales debt securities during the three months ended March 31, 2023 or 2022. The amount of realized gains or losses from marketable securities that were reclassified out from accumulated other comprehensive loss to other (income) expense, net was based on specific identification and such amount was immaterial in the three months ended March 31, 2023. The Company had no realized gains or losses from marketable securities that were reclassified out of accumulated other comprehensive income (loss) in the three months ended March 31, 2022. The following summarizes the remaining contractual maturities of the Company’s marketable securities as of March 31, 2023 (in thousands) : Fair Value One year or less $ 214,908 Over one year through five years — Total marketable securities $ 214,908

Fair Value Measurement

Fair Value Measurement	3 Months Ended
	Mar. 31, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurement	Fair Value Measurement The following tables summarize the Company’s financial instruments recorded at fair value on a recurring basis by level within the fair value hierarchy as of the periods presented (in thousands): March 31, 2023 Level 1 Level 2 Level 3 Total Cash and cash equivalent Cash equivalents - money market mutual funds $ 98,617 $ — $ — $ 98,617 Marketable Securities U.S. Treasury securities — 135,420 — 135,420 U.S. Agency securities — 37,672 — 37,672 Certificates of deposit — 17,286 — 17,286 Corporate debt securities — 6,183 — 6,183 Commercial paper — 18,347 — 18,347 Total cash equivalents and marketable securities $ 98,617 $ 214,908 $ — $ 313,525 December 31, 2022 Level 1 Level 2 Level 3 Total Cash and cash equivalent Cash equivalents - money market mutual funds $ 5,608 $ — $ — $ 5,608 Marketable Securities U.S. Treasury securities — 219,104 — 219,104 U.S. Agency securities — 19,264 — 19,264 Certificates of deposit — 26,509 — 26,509 Corporate debt securities — 13,848 — 13,848 Commercial paper — 22,400 — 22,400 Total cash equivalents and marketable securities $ 5,608 $ 301,125 $ — $ 306,733 As of March 31, 2023 and December 31, 2022, the Company classified its cash equivalents within level 1 of the fair value hierarchy because they are valued using quoted market prices. The Company classified its marketable securities within level 2 of the fair value hierarchy because they are valued using inputs other than quoted prices that are directly or indirectly observable in the market, including readily available pricing sources for the identical underlying security, which may not be actively traded.

Balance Sheets Components

Balance Sheets Components	3 Months Ended
	Mar. 31, 2023
Balance Sheet Related Disclosures [Abstract]
Balance Sheets Components	Balance Sheets Components Property and Equipment, Net Property and equipment, net consisted of the following as of the periods presented (in thousands): March 31, 2023 December 31, 2022 Computer, equipment and software (1) $ 31,111 $ 31,243 Furniture and fixtures 1,076 1,071 Leasehold improvements 3,608 3,606 Property and equipment, gross 35,795 35,920 Less: Accumulated depreciation and amortization (2) (29,838) (28,708) Property and equipment, net $ 5,957 $ 7,212 (1) I ncludes assets recorded under finance leases of $4.9 million and $5.3 million as of March 31, 2023 and December 31, 2022, respectively. (2) In cludes amount for assets recorded under finance leases of $4.0 million as of March 31, 2023 and December 31, 2022, respectively. Depreciation and amortization expense for property and equipment was $1.3 million and $1.2 million for the three months ended March 31, 2023 and 2022, respectively. The following table presents the property and equipment, net of depreciation and amortization, by geographic region as of the periods presented (in thousands): March 31, 2023 December 31, 2022 United States $ 5,310 $ 6,449 EMEA 608 722 Other 39 41 Total property and equipment, net $ 5,957 $ 7,212 Accrued and Other Current Liabilities Accrued and other current liabilities consisted of the following as of the periods presented (in thousands): March 31, 2023 December 31, 2022 Accrued compensation and benefits $ 6,138 $ 5,390 Accrued bonus and commissions 3,964 6,814 Other 7,220 6,261 Accrued and other current liabilities $ 17,322 $ 18,465

Business Combination

Business Combination	3 Months Ended
	Mar. 31, 2023
Business Combination and Asset Acquisition [Abstract]
Business Combination	Business Combination In April 2022, the Company acquired Vibbio AS (Vibbio), a privately-held cloud video software company in Norway, for approximately $3.0 million in cash. The integration of Vibbio’s video capabilities across the ON24 platform is intended to allow customers to produce video content that creates more engagement, generates first-party data, and drives further personalization . The purchase consideration was primarily allocated to developed technology intangible asset with an estimated fair value of $2.7 million at the acquisition date, which was valued using the cost to recreate method. The fair value of the remaining acquired tangible net assets was immaterial. The goodwill that was recorded represents the excess of the purchase consideration over the assets acquired and liabilities assumed relating to the acquisition and is immaterial. The Company has not separately presented pro forma results reflecting the acquisition of Vibbio as the impacts were not material to the condensed consolidated financial statements.

Intangible Assets

Intangible Assets	3 Months Ended
	Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	Intangible Assets The Company’s acquired intangible asset subject to amortization as of the periods presented was as follows (in thousands): March 31, 2023 Gross Carrying Accumulated Amortization Net Carrying Developed technology $ 2,700 $ (575) $ 2,125 Effect of foreign currency translation (434) 20 (414) Total $ 2,266 $ (555) $ 1,711 December 31, 2022 Gross Carrying Accumulated Amortization Net Carrying Developed technology $ 2,700 $ (434) $ 2,266 Effect of foreign currency translation (276) (11) (287) Total $ 2,424 $ (445) $ 1,979 The intangible asset is amortized on a straight-line basis over its useful life of 4 years. As of March 31, 2023, the intangible asset had a remaining amortization period of 3.0 years. The amortization expense was $0.1 million for the three months ended March 31, 2023 and was included in research and development in the condensed consolidated statements of operations as the acquired technology will be used to enhance our existing product capabilities. The Company had no intangible assets as of March 31, 2022. The estimated future amortization expense for the intangible asset is as follows (in thousands): Remaining 2023 $ 426 2024 568 2025 567 2026 150 Total $ 1,711

Credit Facility

Credit Facility	3 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
Credit Facility	Credit Facility In September 2021, the Company amended its revolving line of credit with a financial institution effective August 2021, which increased the Company's borrowing capacity to a maximum of $50.0 million with a letter of credit sublimit of $4.0 million and a credit card sublimit of $1.0 million. The amendment allows the Company to borrow up to $50.0 million if the Company maintains at least $100.0 million on deposit at the institution. If such deposit is less than $100.0 million, the Company may borrow up to the lesser of $50.0 million or an amount determined by the Company's trailing five months of recurring revenue, annualized renewal rate and annualized monthly churn rate, as defined by the agreement. As of March 31, 2023, the Company had not drawn down on its line of credit and has a borrowing capacity of $50.0 million. The terms of the agreement permit voluntary prepayment without premium or penalty. The revolving credit facility matures in August 2024 and is secured by substantially all of the Company’s assets. The outstanding principal balance on the revolving line of credit, if any, is due at maturity. The Company is required to pay quarterly in arrears a commitment fee of 0.15% per annum on the undrawn portion available under the revolving line of credit. As of March 31, 2023, the Company had an outstanding standby letter of credit of $1.2 million as a guarantee for a leased space. Interest on the revolving credit facility is payable monthly in arrears at a rate equal to the lender’s prime referenced rate as defined in the agreement. The prime referenced rate was 8.00% as of March 31, 2023 and 3.50% as of March 31, 2022. The revolving credit facility is subject to certain restrictions and financial covenants, including the requirement of maintaining a minimum debt to EBITDA ratio when the Company’s current portion of the total borrowing exceeds $5.0 million and the Company fails to maintain $100.0 million in deposits. In addition, the revolving line of credit agreement restricts the Company from paying dividends without prior approval from the financing institution. The Company was not subject to the financial covenants as of March 31, 2023. In April 2023, the Company further amended its revolving line of credit to allow for certain transactions including payment of dividends and share repurchases from open market purchases or through an accelerated share repurchase program, subject to certain terms and conditions.

Commitment and Contingencies

Commitment and Contingencies	3 Months Ended
	Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitment and Contingencies	Commitment and Contingencies Purchase Obligations The Company has non-cancelable purchase commitments of $3.1 million as of March 31, 2023, primarily related to software license fees and co-location facilities and services, of which $2.1 million is expected to be paid in 2023 and $1.0 million in 2024. Contingencies The Company has agreed to indemnify its directors and executive officers for costs associated with any fees, expenses, judgments, fines, and settlement amounts incurred by any of these persons in any action or proceeding to which any of those persons is, or is threatened to be, made a party by reason of the person’s service as a director or officer, including any action by the Company, arising out of that person’s services as the Company’s director or officer or that person’s services provided to any other company or enterprise at the Company’s request. The Company maintains director and officer insurance coverage that may enable the Company to recover a portion of any future amounts paid. FASB ASC 450-20, Contingencies , sets forth the rules for accounting for uncertain tax positions for taxes not based on income. When a loss contingency exists, the likelihood of the incurrence of the liability can range from probable to remote. The Company believes it is reasonably possible that a loss will result from the sales and use tax assessments in the range of zero to $0.4 million. The Company has not recorded an accrual as of March 31, 2023 and December 31, 2022. Legal Proceedings The Company, its Chief Executive Officer, its Chief Financial Officer, certain current and former members of its Board of Directors and the underwriters that participated in the Company’s IPO are named as defendants in a consolidated putative class action, captioned In re ON24, Inc. Securities Litigation, 4:21-cv-08578-YGR (filed in November 2021), that is currently pending in the United States District Court for the Northern District of California. The consolidated complaint purports to assert claims under Sections 11 and 15 of the Securities Act of 1933 on behalf of all persons and entities that purchased, or otherwise acquired, the Company’s common stock issued in connection with the Company’s IPO. The complaint alleges that the Company’s registration statement and prospectus contained untrue statements of material fact and/or omitted material facts about ON24’s growth and customer base. Plaintiff seeks, among other things, an award of damages and attorneys’ fees and costs. Defendants filed a motion to dismiss the complaint in May 2022, which is currently pending. The Company believes the allegations in the consolidated complaint are without merit. The Company is unable to reasonably estimate a possible loss or range of possible loss, if any, arising from this matter at this early stage. Accordingly, no accrued litigation expense has been recorded in the accompanying condensed consolidated financial statements. In the ordinary course of business, the Company may be subject from time to time to various proceedings, lawsuits, disputes or claims. Although the Company cannot predict with assurance the outcome of any litigation, the Company does not believe there are currently any actions, other than those described in the prior paragraph, that if resolved unfavorably, would have a material impact on its financial condition, results of operations or cash flows.

Stockholders_ Equity and Equity

Stockholders’ Equity and Equity Incentive Plan	3 Months Ended
	Mar. 31, 2023
Equity [Abstract]
Stockholders’ Equity and Equity Incentive Plan	Stockholders’ Equity and Equity Incentive Plan Preferred Stock The Company’s amended and restated certificate of incorporation authorized the issuance of 10,000,000 shares of undesignated preferred stock with a par value of $0.0001 per share. Common Stock The Company’s amended and restated certificate of incorporation authorized the issuance of 500,000,000 shares of common stock, $0.0001 par value per share. Holders of common stock are entitled to one vote per share. Common Stock Reserved for Future Issuance As of March 31, 2023, the Company had the following shares of common stock reserved for future issuance under its equity incentive plan and employee share purchase plan: Stock options outstanding 7,523,406 Restricted stock outstanding 5,193,115 Remaining shares available for future grant under 2021 Equity Incentive Plan (1) 7,186,550 Remaining shares available for future issuance under ESPP (2) 1,977,559 Total shares of common stock reserved as of March 31, 2023 21,880,630 (1) Includes the automatic annual increase of 2,377,740 additional shares under 2021 Equity Incentive Plan on January 1, 2023. (2) Includes the automatic annual increase of 475,548 ad ditional shares under ESPP on January 1, 2023. Grant Activities Stock Options A summary of stock option activity and related information is as follows: Options Outstanding Number of Shares Weighted- Weighted- Aggregate Balance as of December 31, 2022 7,756,680 $ 6.96 Granted — — Exercised (107,851) 2.37 $ 674 Cancelled and forfeited (125,423) 17.30 Balance as of March 31, 2023 7,523,406 $ 6.85 5.51 $ 34,111 Vested and exercisable 6,172,635 $ 5.40 5.08 $ 31,864 Restricted Stock Units A summary of RSU activity and related information is as follows: RSUs Outstanding Number of Shares Weighted-Average Grant Date Fair Value Unvested balance as of December 31, 2022 5,134,934 $ 14.37 Granted 649,666 9.14 Vested (478,356) 16.22 Cancelled and forfeited (454,533) 14.91 Unvested balance as of March 31, 2023 4,851,711 $ 13.43 The total fair value of RSUs vested in the three months ended March 31, 2023 and 2022 was $7.8 million and $5.5 million, respectively. Restricted Stock Unit with Performance Conditions (PSUs) In 2022, the Company’s board of directors granted 341,404 market performance-based restricted stock units to an executive officer with a grant date fair value of $4.2 million. The PSUs vest following three two March 31, 2023, none of these PSUs have vested. Stock-Based Compensation The stock-based compensation expense by line item in the condensed consolidated statements of operations is summarized as follows (in thousands): Three Months Ended March 31, 2023 2022 Cost of revenue Subscription and other platform $ 785 $ 868 Professional services 152 174 Total cost of revenue 937 1,042 Sales and marketing 3,057 3,692 Research and development 2,021 1,981 General and administrative 4,106 2,792 Total stock-based compensation expense $ 10,121 $ 9,507 The following table presents the unrecognized stock-based compensation expense and weighted-average recognition periods as of March 31, 2023 (in thousands, except years): Stock Option Restricted Stock ESPP Unrecognized stock-based compensation expense $ 21,093 $ 61,752 $ 51 Weighted-average amortization period 1.66 years 2.58 years 0.12 years Repurchase of Common Stock In March 2023, the Company’s board of directors authorized a new $125.0 million capital return program, $75.0 million of which is expected to be effected through the combination of an accelerated stock repurchase program and/or open market purchases. The Company may pay an additional special dividend if this $75.0 million threshold is not reached by March 2024. This capital return program replaced the prior $50.0 million share repurchase program. The following table presents certain information regarding shares repurchased during the periods presented: Three Months Ended March 31, 2023 2022 Number of shares repurchased 1,279,127 964,895 Average price per share, including commissions $ 8.38 $ 14.81 Total repurchase costs, including commissions (in millions) $ 10.7 $ 14.3 As of March 31, 2023, the Company had $69.0 million available for future share buybacks under the repurchase program. The Company repurchased an additional 1,129,369 shares of common stock at an average per share price of $8.76 (including commissions) from April 1, 2023 through May 8, 2023. As of May 8, 2023, the Company has $59.1 million remaining for future share buyback under the repurchase program. The Company expects its repurchase program to be completed in the first quarter of 2024. Dividends

Other (Income) Expense, Net

Other (Income) Expense, Net	3 Months Ended
	Mar. 31, 2023
Other Income and Expenses [Abstract]
Other (Income) Expense, Net	Other (Income) Expense, Net Other (income) expense, net consisted of the following for the periods presented (in thousands): Three Months Ended March 31, 2023 2022 Interest income $ (958) $ (380) Amortization (accretion) on marketable securities (1,826) 253 Foreign currency losses 265 326 Other (53) (22) Other (income) expense, net $ (2,572) $ 177

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company’s provision for income taxes were as follows (in thousands): Three Months Ended March 31, 2023 2022 Provision for income taxes $ 196 $ 82 The Company’s provision for income taxes for interim periods is determined using an estimate of its annual effective tax rate, adjusted for discrete items, if any. The Company updates its estimate of the annual effective tax rate and makes a year-to-date adjustment to the provision quarterly. Provision for income taxes for the three months ended March 31, 2023 increased $0.1 million, compared to the three months ended March 31, 2022. The change in provision for income taxes was primarily driven by the increased activity and tax rate in a foreign jurisdiction. The Company regularly performs an assessment of the likelihood of realizing benefits of its deferred tax assets. As of March 31, 2023, the Company recorded a valuation allowance against its U.S. deferred tax assets based on available evidence. However, if there are favorable changes to actual operating results or to projections of future income, the Company may determine that it is more likely than not that such deferred tax assets may be realizable. Utilization of net operating loss carryforwards, tax credits and other attributes may be subject to future annual limitations due to the ownership change limitations provided by Section 382 of the Internal Revenue Code and similar state provisions.

Net Loss Per Share

Net Loss Per Share	3 Months Ended
	Mar. 31, 2023
Earnings Per Share [Abstract]
Net Loss Per Share	Net Loss Per Share The following tables set forth the computation of basic and diluted net loss per share attributable to common stockholders for the periods presented (in thousands, except share and per share data): Three Months Ended March 31, 2023 2022 Net loss $ (17,590) $ (15,479) Net loss per share of common stock, basic and diluted $ (0.37) $ (0.32) Weighted-average common stock outstanding, basic and diluted 47,304,983 47,631,813 T he following table sets forth the potential shares of common stock that were excluded from the computation of diluted net loss per share attributable to common stockholders for the periods presented because including them would have been antidilutive: Three Months Ended March 31, 2023 2022 Stock options 7,523,406 8,643,616 Restricted stock units 4,851,711 3,855,788 Performance stock units 341,404 — ESPP purchase rights 99,235 112,568 Total antidilutive securities 12,815,756 12,611,972

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2023
Related Party Transactions [Abstract]
Related Party Transactions	Related Party TransactionsThe Company incurred engineering and quality assurance costs from a third-party vendor in the three months ended March 31, 2023 and 2022. The chief executive officer of the third-party vendor is considered an immediate family member of the Company’s chief technology officer. The Company recorded $0.7 million in the three months ended March 31, 2023 and 2022 in research and development expense relating to this third-party vendor on the condensed consolidated statements of operations. As of March 31, 2023 and December 31, 2022, the Company recorded $0.5 million and $0.7 million, respectively, in accounts payable and accrued liabilities on the condensed consolidated balance sheets for the amount owed to this third-party vendor.

Restructuring

Restructuring	3 Months Ended
	Mar. 31, 2023
Restructuring and Related Activities [Abstract]
Restructuring	Restructuring In the third quarter of 2022, the Company initiated a strategic cost reduction plan to reduce its global headcount through voluntary and involuntary headcount reductions. As of March 31, 2023, this plan was substantially completed. In February 2023, in an effort to streamline its organization, the Company initiated a restructuring plan to reduce its cost structure through global headcount reductions and other charges. In the three months ended March 31, 2023, the Company incurred restructuring costs totaling $3.1 million, primarily related to severance and one-time termination benefits. The Company expects to incur additional restructuring costs of $1.5 million to $2.3 million in the second quarter of 2023 and may incur additional costs in future periods for restructuring activities. In addition, related to our restructuring activities, the Company expects to incur a charge of $1.3 million to $1.5 million in the second quarter of 2023 for underutilized real estate. The following table summarizes the restructuring costs under both plans in our condensed consolidated statements of operations for the periods presented (in thousands): Three Months Ended Cost of revenue Subscription and other platform $ 785 Professional services 54 Total cost of revenue 839 Sales and marketing 1,211 Research and development 773 General and administrative 230 Total restructuring costs $ 3,053 The Company paid restructuring costs of $2.4 million during the first quarter of 2023. As of March 31, 2023, the restructuring liability was $0.9 million and is included in accrued and other current liabilities on the condensed consolidated balance sheets.

Description of Business and S_2

Description of Business and Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation T he accompanying condensed consolidated financial statements include the accounts of ON24 Inc. and its subsidiaries and have been prepared in accordance with generally accepted accounting principles in the United States of America (U.S. GAAP) and applicable rules and regulations of the Securities and Exchange Commission (SEC) for interim financial reporting. Certain information and note disclosures included in the Company’s annual financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. Therefore, these condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes included in the Company’s annual report on Form 10-K for the year ended December 31, 2022. In the opinion of management, the condensed consolidated financial statements reflect all adjustments that are normal and recurring in nature and necessary for fair financial statement presentation. All intercompany transactions and balances have been eliminated in consolidation. All intercompany transactions and balances have been eliminated in consolidation.
Use of Estimates	Use of Estimates The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Significant items subject to such estimates and assumptions include, but are not limited to, the estimated expected benefit period for deferred contract acquisition costs, the determination of standalone selling price for the Company’s performance obligations, the allowance for doubtful accounts and billing reserve, the useful lives of long-lived assets, the assumptions used to measure stock-based compensation, the valuation of deferred income tax assets and uncertain tax positions. Actual results could differ from those estimates.
Recently Adopted Accounting Standards	Recently Adopted Accounting Standards In June 2016, FASB issued ASU No. 2016-13, Financial Instruments Topic 326: Credit Losses Measurement of Credit Losses on Financial Instruments , as amended, which requires an entity to measure all expected credit losses for financial instruments held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts utilizing a new impairment model known as the current expected credit loss (CECL) model. This new standard also requires credit losses related to available for sale debt securities to be recorded as an allowance through net income rather than by reducing the carrying amount under the other-than-temporary-impairment model. The Company adopted ASU No. 2016-13 on January 1, 2023 and the impact of the adoption was not material to the Company’s condensed consolidated financial statements and related disclosures.
Revenue Recognition	Accounts receivable: The Company records accounts receivable when the Company has a contractual right to consideration. In some arrangements, a right to consideration for the Company’s performance under the customer contract may occur before invoicing to the customer, resulting in an unbilled receivable.Contract assets: The Company records a contract asset when the Company has satisfied a performance obligation but does not yet have an unconditional right to consideration.Contract liabilities: The Company defers its revenue when the Company has the right to invoice in advance of performance under a customer contract. The current portion of deferred revenue balances is recognized during the following 12-month period and the remaining portion is recorded as noncurrent, which is included in other long-term liabilities on the condensed consolidated balance sheet.

Revenue (Tables)

Revenue (Tables)	3 Months Ended
	Mar. 31, 2023
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue by Geographic Region	The following table depicts the disaggregation of revenue by geographic region based on the shipping address of customers (in thousands): Three Months Ended March 31, 2023 2022 United States $ 33,332 $ 36,549 EMEA 6,864 8,147 Other 2,867 3,796 Total revenue $ 43,063 $ 48,492

Marketable Securities (Tables)

Marketable Securities (Tables)	3 Months Ended
	Mar. 31, 2023
Marketable Securities [Abstract]
Summary of Marketable Securities	M arketable securities consisted of the following as of the periods presented (in thousands): March 31, 2023 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Marketable Securities U.S. Treasury securities $ 135,410 $ 86 $ (76) $ 135,420 U.S. Agency securities 37,605 72 (5) 37,672 Certificates of deposit 17,353 — (67) 17,286 Corporate debt securities 6,213 1 (31) 6,183 Commercial paper 18,357 2 (12) 18,347 Total marketable securities $ 214,938 $ 161 $ (191) $ 214,908 December 31, 2022 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Marketable Securities U.S. Treasury securities $ 219,895 $ 10 $ (801) $ 219,104 U.S. Agency securities 19,247 19 (2) 19,264 Certificates of deposit 26,624 4 (119) 26,509 Corporate debt securities 13,934 — (86) 13,848 Commercial paper 22,433 10 (43) 22,400 Total marketable securities $ 302,133 $ 43 $ (1,051) $ 301,125
Summary of Marketable Securities in an Unrealized Loss Position	Marketable securities that have been in a continuous unrealized loss position consisted of the following as of the periods presented (in thousands): March 31, 2023 Less Than 12 Months 12 Months or More Total Fair Value Gross Unrealized Loss Fair Value Gross Unrealized Loss Fair Value Gross Unrealized Loss U.S. Treasury securities $ 27,244 $ (55) $ 978 $ (21) $ 28,222 $ (76) U.S. Agency securities 3,195 (5) — — 3,195 (5) Certificates of deposit 15,686 (67) — — 15,686 (67) Corporate debt securities 339 (2) 3,876 (29) 4,215 (31) Commercial paper 13,364 (12) — — 13,364 (12) Total $ 59,828 $ (141) $ 4,854 $ (50) $ 64,682 $ (191) December 31, 2022 Less Than 12 Months 12 Months or More Total Fair Value Gross Unrealized Loss Fair Value Gross Unrealized Loss Fair Value Gross Unrealized Loss U.S. Treasury securities $ 116,161 $ (151) $ 77,173 $ (650) $ 193,334 $ (801) U.S. Agency securities 3,197 (2) — — 3,197 (2) Certificates of deposit 22,402 (119) — — 22,402 (119) Corporate debt securities 4,253 (13) 8,345 (73) 12,598 (86) Commercial paper 12,853 (43) — — 12,853 (43) Total $ 158,866 $ (328) $ 85,518 $ (723) $ 244,384 $ (1,051)
Summary of Remaining Contractual Maturities of Marketable Securities	The following summarizes the remaining contractual maturities of the Company’s marketable securities as of March 31, 2023 (in thousands) : Fair Value One year or less $ 214,908 Over one year through five years — Total marketable securities $ 214,908

Fair Value Measurement (Tables)

Fair Value Measurement (Tables)	3 Months Ended
	Mar. 31, 2023
Fair Value Disclosures [Abstract]
Summary of Financial Instruments Recorded at Fair Value on Recurring Basis	The following tables summarize the Company’s financial instruments recorded at fair value on a recurring basis by level within the fair value hierarchy as of the periods presented (in thousands): March 31, 2023 Level 1 Level 2 Level 3 Total Cash and cash equivalent Cash equivalents - money market mutual funds $ 98,617 $ — $ — $ 98,617 Marketable Securities U.S. Treasury securities — 135,420 — 135,420 U.S. Agency securities — 37,672 — 37,672 Certificates of deposit — 17,286 — 17,286 Corporate debt securities — 6,183 — 6,183 Commercial paper — 18,347 — 18,347 Total cash equivalents and marketable securities $ 98,617 $ 214,908 $ — $ 313,525 December 31, 2022 Level 1 Level 2 Level 3 Total Cash and cash equivalent Cash equivalents - money market mutual funds $ 5,608 $ — $ — $ 5,608 Marketable Securities U.S. Treasury securities — 219,104 — 219,104 U.S. Agency securities — 19,264 — 19,264 Certificates of deposit — 26,509 — 26,509 Corporate debt securities — 13,848 — 13,848 Commercial paper — 22,400 — 22,400 Total cash equivalents and marketable securities $ 5,608 $ 301,125 $ — $ 306,733

Balance Sheets Components (Tabl

Balance Sheets Components (Tables)	3 Months Ended
	Mar. 31, 2023
Balance Sheet Related Disclosures [Abstract]
Summary of Property and Equipment, Net	Property and equipment, net consisted of the following as of the periods presented (in thousands): March 31, 2023 December 31, 2022 Computer, equipment and software (1) $ 31,111 $ 31,243 Furniture and fixtures 1,076 1,071 Leasehold improvements 3,608 3,606 Property and equipment, gross 35,795 35,920 Less: Accumulated depreciation and amortization (2) (29,838) (28,708) Property and equipment, net $ 5,957 $ 7,212 (1) I ncludes assets recorded under finance leases of $4.9 million and $5.3 million as of March 31, 2023 and December 31, 2022, respectively. (2) In cludes amount for assets recorded under finance leases of $4.0 million as of March 31, 2023 and December 31, 2022, respectively.
Schedule of Property and Equipment, Net of Depreciation and Amortization, by Geographic Region	The following table presents the property and equipment, net of depreciation and amortization, by geographic region as of the periods presented (in thousands): March 31, 2023 December 31, 2022 United States $ 5,310 $ 6,449 EMEA 608 722 Other 39 41 Total property and equipment, net $ 5,957 $ 7,212
Summary of Accrued and Other Current Liabilities	Accrued and other current liabilities consisted of the following as of the periods presented (in thousands): March 31, 2023 December 31, 2022 Accrued compensation and benefits $ 6,138 $ 5,390 Accrued bonus and commissions 3,964 6,814 Other 7,220 6,261 Accrued and other current liabilities $ 17,322 $ 18,465

Intangible Assets (Tables)

Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Finite-Lived Intangible Assets	The Company’s acquired intangible asset subject to amortization as of the periods presented was as follows (in thousands): March 31, 2023 Gross Carrying Accumulated Amortization Net Carrying Developed technology $ 2,700 $ (575) $ 2,125 Effect of foreign currency translation (434) 20 (414) Total $ 2,266 $ (555) $ 1,711 December 31, 2022 Gross Carrying Accumulated Amortization Net Carrying Developed technology $ 2,700 $ (434) $ 2,266 Effect of foreign currency translation (276) (11) (287) Total $ 2,424 $ (445) $ 1,979
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	The estimated future amortization expense for the intangible asset is as follows (in thousands): Remaining 2023 $ 426 2024 568 2025 567 2026 150 Total $ 1,711

Stockholders_ Equity and Equi_2

Stockholders’ Equity and Equity Incentive Plan - (Tables)	3 Months Ended
	Mar. 31, 2023
Equity [Abstract]
Common Stock Reserved for Future Issuance	As of March 31, 2023, the Company had the following shares of common stock reserved for future issuance under its equity incentive plan and employee share purchase plan: Stock options outstanding 7,523,406 Restricted stock outstanding 5,193,115 Remaining shares available for future grant under 2021 Equity Incentive Plan (1) 7,186,550 Remaining shares available for future issuance under ESPP (2) 1,977,559 Total shares of common stock reserved as of March 31, 2023 21,880,630 (1) Includes the automatic annual increase of 2,377,740 additional shares under 2021 Equity Incentive Plan on January 1, 2023. (2) Includes the automatic annual increase of 475,548 ad ditional shares under ESPP on January 1, 2023.
Summary of Stock Options	A summary of stock option activity and related information is as follows: Options Outstanding Number of Shares Weighted- Weighted- Aggregate Balance as of December 31, 2022 7,756,680 $ 6.96 Granted — — Exercised (107,851) 2.37 $ 674 Cancelled and forfeited (125,423) 17.30 Balance as of March 31, 2023 7,523,406 $ 6.85 5.51 $ 34,111 Vested and exercisable 6,172,635 $ 5.40 5.08 $ 31,864
Summary of RSU Activity	A summary of RSU activity and related information is as follows: RSUs Outstanding Number of Shares Weighted-Average Grant Date Fair Value Unvested balance as of December 31, 2022 5,134,934 $ 14.37 Granted 649,666 9.14 Vested (478,356) 16.22 Cancelled and forfeited (454,533) 14.91 Unvested balance as of March 31, 2023 4,851,711 $ 13.43
Summary of Share-based Compensation Expense by line item in the Consolidated Statements of Operations	The stock-based compensation expense by line item in the condensed consolidated statements of operations is summarized as follows (in thousands): Three Months Ended March 31, 2023 2022 Cost of revenue Subscription and other platform $ 785 $ 868 Professional services 152 174 Total cost of revenue 937 1,042 Sales and marketing 3,057 3,692 Research and development 2,021 1,981 General and administrative 4,106 2,792 Total stock-based compensation expense $ 10,121 $ 9,507
Summary of Unrecognized Stock-Based Compensation Expenses	The following table presents the unrecognized stock-based compensation expense and weighted-average recognition periods as of March 31, 2023 (in thousands, except years): Stock Option Restricted Stock ESPP Unrecognized stock-based compensation expense $ 21,093 $ 61,752 $ 51 Weighted-average amortization period 1.66 years 2.58 years 0.12 years
Schedule of Repurchase Agreements	The following table presents certain information regarding shares repurchased during the periods presented: Three Months Ended March 31, 2023 2022 Number of shares repurchased 1,279,127 964,895 Average price per share, including commissions $ 8.38 $ 14.81 Total repurchase costs, including commissions (in millions) $ 10.7 $ 14.3

Other (Income) Expense, Net (Ta

Other (Income) Expense, Net (Tables)	3 Months Ended
	Mar. 31, 2023
Other Income and Expenses [Abstract]
Schedule of Other (Income) Expense, Net	Other (income) expense, net consisted of the following for the periods presented (in thousands): Three Months Ended March 31, 2023 2022 Interest income $ (958) $ (380) Amortization (accretion) on marketable securities (1,826) 253 Foreign currency losses 265 326 Other (53) (22) Other (income) expense, net $ (2,572) $ 177

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Mar. 31, 2023
Income Tax Disclosure [Abstract]
Schedule of Income Tax Expense (Benefit)	The Company’s provision for income taxes were as follows (in thousands): Three Months Ended March 31, 2023 2022 Provision for income taxes $ 196 $ 82

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	3 Months Ended
	Mar. 31, 2023
Earnings Per Share [Abstract]
Schedule of Computation of Basic and Diluted Net Income (Loss) Per Share	The following tables set forth the computation of basic and diluted net loss per share attributable to common stockholders for the periods presented (in thousands, except share and per share data): Three Months Ended March 31, 2023 2022 Net loss $ (17,590) $ (15,479) Net loss per share of common stock, basic and diluted $ (0.37) $ (0.32) Weighted-average common stock outstanding, basic and diluted 47,304,983 47,631,813
Schedule of Potential Shares of Common Stock Excluded from Computation of Diluted Net Loss Per Share	T he following table sets forth the potential shares of common stock that were excluded from the computation of diluted net loss per share attributable to common stockholders for the periods presented because including them would have been antidilutive: Three Months Ended March 31, 2023 2022 Stock options 7,523,406 8,643,616 Restricted stock units 4,851,711 3,855,788 Performance stock units 341,404 — ESPP purchase rights 99,235 112,568 Total antidilutive securities 12,815,756 12,611,972

Restructuring (Tables)

Restructuring (Tables)	3 Months Ended
	Mar. 31, 2023
Restructuring and Related Activities [Abstract]
Restructuring Costs	The following table summarizes the restructuring costs under both plans in our condensed consolidated statements of operations for the periods presented (in thousands): Three Months Ended Cost of revenue Subscription and other platform $ 785 Professional services 54 Total cost of revenue 839 Sales and marketing 1,211 Research and development 773 General and administrative 230 Total restructuring costs $ 3,053

Revenue - Schedule of Disaggreg

Revenue - Schedule of Disaggregation of Revenue by Geographic Region (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Disaggregation Of Revenue [Line Items]
Total revenue	$ 43,063	$ 48,492
United States
Disaggregation Of Revenue [Line Items]
Total revenue	33,332	36,549
EMEA
Disaggregation Of Revenue [Line Items]
Total revenue	6,864	8,147
Other
Disaggregation Of Revenue [Line Items]
Total revenue	$ 2,867	$ 3,796

Revenue - Customers Who Contrib

Revenue - Customers Who Contributed 10% or more of Total Revenue (Detail)	3 Months Ended		12 Months Ended
	Mar. 31, 2023 customer country	Mar. 31, 2022 customer country	Dec. 31, 2022 customer
Disaggregation Of Revenue [Line Items]
Number of foreign countries who accounted for 10% or more | country	0	0
Customer Concentration Risk | Revenue | Customers Representing Concentration Risk
Disaggregation Of Revenue [Line Items]
Percentage of concentration risk	10%	10%
Number of customers who accounted for 10% or more	0	0
Customer Concentration Risk | Accounts Receivable Benchmark | Customers Representing Concentration Risk
Disaggregation Of Revenue [Line Items]
Percentage of concentration risk	10%		10%
Number of customers who accounted for 10% or more	0		0

Revenue - Contract Balances (De

Revenue - Contract Balances (Details) $ in Millions	3 Months Ended
	Mar. 31, 2023 USD ($)
Revenue from Contract with Customer [Abstract]
Revenue recognized related to deferred revenue	$ 35

Revenue - Remaining Performance

Revenue - Remaining Performance Obligations (Details) $ in Millions	Mar. 31, 2023 USD ($)
Disaggregation Of Revenue [Line Items]
Remaining performance obligation	$ 142.3
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2023-04-01
Disaggregation Of Revenue [Line Items]
Remaining performance obligation percentage	79%
Revenue remaining performance obligation, expected timing of satisfaction period	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2024-04-01
Disaggregation Of Revenue [Line Items]
Revenue remaining performance obligation, expected timing of satisfaction period
Billed Consideration
Disaggregation Of Revenue [Line Items]
Remaining performance obligation	$ 81.9
Unbilled Consideration
Disaggregation Of Revenue [Line Items]
Remaining performance obligation	$ 60.4

Revenue - Costs to Obtain a Con

Revenue - Costs to Obtain a Contract (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Disaggregation Of Revenue [Line Items]
Capitalized contract cost, amortization period	5 years
Amortization of deferred contract acquisition costs	$ 3,893	$ 4,067
Impairment losses of deferred contract acquisition costs	0	0
Sales and marketing
Disaggregation Of Revenue [Line Items]
Amortization of deferred contract acquisition costs	$ 3,900	$ 4,100

Marketable Securities - Summary

Marketable Securities - Summary of Marketable Securities (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Marketable Securities [Line Items]
Total marketable securities, Amortized Cost	$ 214,938	$ 302,133
Total marketable securities, Gross Unrealized Gains	161	43
Total marketable securities, Gross Unrealized Losses	(191)	(1,051)
Total marketable securities, Fair Value	214,908	301,125
U.S. Treasury securities
Marketable Securities [Line Items]
Total marketable securities, Amortized Cost	135,410	219,895
Total marketable securities, Gross Unrealized Gains	86	10
Total marketable securities, Gross Unrealized Losses	(76)	(801)
Total marketable securities, Fair Value	135,420	219,104
U.S. Agency securities
Marketable Securities [Line Items]
Total marketable securities, Amortized Cost	37,605	19,247
Total marketable securities, Gross Unrealized Gains	72	19
Total marketable securities, Gross Unrealized Losses	(5)	(2)
Total marketable securities, Fair Value	37,672	19,264
Certificates of deposit
Marketable Securities [Line Items]
Total marketable securities, Amortized Cost	17,353	26,624
Total marketable securities, Gross Unrealized Gains	0	4
Total marketable securities, Gross Unrealized Losses	(67)	(119)
Total marketable securities, Fair Value	17,286	26,509
Corporate debt securities
Marketable Securities [Line Items]
Total marketable securities, Amortized Cost	6,213	13,934
Total marketable securities, Gross Unrealized Gains	1	0
Total marketable securities, Gross Unrealized Losses	(31)	(86)
Total marketable securities, Fair Value	6,183	13,848
Commercial paper
Marketable Securities [Line Items]
Total marketable securities, Amortized Cost	18,357	22,433
Total marketable securities, Gross Unrealized Gains	2	10
Total marketable securities, Gross Unrealized Losses	(12)	(43)
Total marketable securities, Fair Value	$ 18,347	$ 22,400

Marketable Securities - Marketa

Marketable Securities - Marketable Securities in an Unrealized Loss Position (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Marketable Securities [Line Items]
Marketable securities in a continuous loss position for less than 12 months	$ 59,828	$ 158,866
Marketable securities in a continuous loss position for less than 12 months, Gross Unrealized Loss	(141)	(328)
Marketable securities in a continuous loss position for 12 months or more	4,854	85,518
Marketable securities in a continuous loss position for 12 months or more, Gross Unrealized Loss	(50)	(723)
Marketable securities in a continuous loss position	64,682	244,384
Marketable securities in a continuous loss position, Gross Unrealized Loss	(191)	(1,051)
U.S. Treasury securities
Marketable Securities [Line Items]
Marketable securities in a continuous loss position for less than 12 months	27,244	116,161
Marketable securities in a continuous loss position for less than 12 months, Gross Unrealized Loss	(55)	(151)
Marketable securities in a continuous loss position for 12 months or more	978	77,173
Marketable securities in a continuous loss position for 12 months or more, Gross Unrealized Loss	(21)	(650)
Marketable securities in a continuous loss position	28,222	193,334
Marketable securities in a continuous loss position, Gross Unrealized Loss	(76)	(801)
U.S. Agency securities
Marketable Securities [Line Items]
Marketable securities in a continuous loss position for less than 12 months	3,195	3,197
Marketable securities in a continuous loss position for less than 12 months, Gross Unrealized Loss	(5)	(2)
Marketable securities in a continuous loss position for 12 months or more	0	0
Marketable securities in a continuous loss position for 12 months or more, Gross Unrealized Loss	0	0
Marketable securities in a continuous loss position	3,195	3,197
Marketable securities in a continuous loss position, Gross Unrealized Loss	(5)	(2)
Certificates of deposit
Marketable Securities [Line Items]
Marketable securities in a continuous loss position for less than 12 months	15,686	22,402
Marketable securities in a continuous loss position for less than 12 months, Gross Unrealized Loss	(67)	(119)
Marketable securities in a continuous loss position for 12 months or more	0	0
Marketable securities in a continuous loss position for 12 months or more, Gross Unrealized Loss	0	0
Marketable securities in a continuous loss position	15,686	22,402
Marketable securities in a continuous loss position, Gross Unrealized Loss	(67)	(119)
Corporate debt securities
Marketable Securities [Line Items]
Marketable securities in a continuous loss position for less than 12 months	339	4,253
Marketable securities in a continuous loss position for less than 12 months, Gross Unrealized Loss	(2)	(13)
Marketable securities in a continuous loss position for 12 months or more	3,876	8,345
Marketable securities in a continuous loss position for 12 months or more, Gross Unrealized Loss	(29)	(73)
Marketable securities in a continuous loss position	4,215	12,598
Marketable securities in a continuous loss position, Gross Unrealized Loss	(31)	(86)
Commercial paper
Marketable Securities [Line Items]
Marketable securities in a continuous loss position for less than 12 months	13,364	12,853
Marketable securities in a continuous loss position for less than 12 months, Gross Unrealized Loss	(12)	(43)
Marketable securities in a continuous loss position for 12 months or more	0	0
Marketable securities in a continuous loss position for 12 months or more, Gross Unrealized Loss	0	0
Marketable securities in a continuous loss position	13,364	12,853
Marketable securities in a continuous loss position, Gross Unrealized Loss	$ (12)	$ (43)

Marketable Securities - Additio

Marketable Securities - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2023
Marketable Securities [Line Items]
Credit loss recognized related to available for sale debt securities	$ 0	$ 0
Reclassification out of Accumulated Other Comprehensive Income (Loss)
Marketable Securities [Line Items]
Realized gains or losses from marketable securities that were reclassified out of other comprehensive income (loss)	$ 0

Marketable Securities - Summa_2

Marketable Securities - Summary of Remaining Contractual Maturities of Marketable Securities (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Marketable Securities (Available For Sale) Maturities [Abstract]
One year or less	$ 214,908
Over one year through five years	0
Total marketable securities	$ 214,908	$ 301,125

Fair Value Measurement - Summar

Fair Value Measurement - Summary of Financial Instruments Recorded at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Fair Value (Recurring) [Line Items]
Total marketable securities, Fair Value	$ 214,908	$ 301,125
U.S. Treasury securities
Fair Value (Recurring) [Line Items]
Total marketable securities, Fair Value	135,420	219,104
U.S. Agency securities
Fair Value (Recurring) [Line Items]
Total marketable securities, Fair Value	37,672	19,264
Certificates of deposit
Fair Value (Recurring) [Line Items]
Total marketable securities, Fair Value	17,286	26,509
Corporate debt securities
Fair Value (Recurring) [Line Items]
Total marketable securities, Fair Value	6,183	13,848
Commercial paper
Fair Value (Recurring) [Line Items]
Total marketable securities, Fair Value	18,347	22,400
Fair Value Measurements Recurring
Fair Value (Recurring) [Line Items]
Cash equivalents - money market mutual funds	98,617	5,608
Total cash equivalents and marketable securities	313,525	306,733
Fair Value Measurements Recurring | Level 1
Fair Value (Recurring) [Line Items]
Cash equivalents - money market mutual funds	98,617	5,608
Total cash equivalents and marketable securities	98,617	5,608
Fair Value Measurements Recurring | Level 2
Fair Value (Recurring) [Line Items]
Cash equivalents - money market mutual funds	0	0
Total cash equivalents and marketable securities	214,908	301,125
Fair Value Measurements Recurring | Level 3
Fair Value (Recurring) [Line Items]
Cash equivalents - money market mutual funds	0	0
Total cash equivalents and marketable securities	0	0
Fair Value Measurements Recurring | U.S. Treasury securities
Fair Value (Recurring) [Line Items]
Total marketable securities, Fair Value	135,420	219,104
Fair Value Measurements Recurring | U.S. Treasury securities | Level 1
Fair Value (Recurring) [Line Items]
Total marketable securities, Fair Value	0	0
Fair Value Measurements Recurring | U.S. Treasury securities | Level 2
Fair Value (Recurring) [Line Items]
Total marketable securities, Fair Value	135,420	219,104
Fair Value Measurements Recurring | U.S. Treasury securities | Level 3
Fair Value (Recurring) [Line Items]
Total marketable securities, Fair Value	0	0
Fair Value Measurements Recurring | U.S. Agency securities
Fair Value (Recurring) [Line Items]
Total marketable securities, Fair Value	37,672	19,264
Fair Value Measurements Recurring | U.S. Agency securities | Level 1
Fair Value (Recurring) [Line Items]
Total marketable securities, Fair Value	0	0
Fair Value Measurements Recurring | U.S. Agency securities | Level 2
Fair Value (Recurring) [Line Items]
Total marketable securities, Fair Value	37,672	19,264
Fair Value Measurements Recurring | U.S. Agency securities | Level 3
Fair Value (Recurring) [Line Items]
Total marketable securities, Fair Value	0	0
Fair Value Measurements Recurring | Certificates of deposit
Fair Value (Recurring) [Line Items]
Total marketable securities, Fair Value	17,286	26,509
Fair Value Measurements Recurring | Certificates of deposit | Level 1
Fair Value (Recurring) [Line Items]
Total marketable securities, Fair Value	0	0
Fair Value Measurements Recurring | Certificates of deposit | Level 2
Fair Value (Recurring) [Line Items]
Total marketable securities, Fair Value	17,286	26,509
Fair Value Measurements Recurring | Certificates of deposit | Level 3
Fair Value (Recurring) [Line Items]
Total marketable securities, Fair Value	0	0
Fair Value Measurements Recurring | Corporate debt securities
Fair Value (Recurring) [Line Items]
Total marketable securities, Fair Value	6,183	13,848
Fair Value Measurements Recurring | Corporate debt securities | Level 1
Fair Value (Recurring) [Line Items]
Total marketable securities, Fair Value	0	0
Fair Value Measurements Recurring | Corporate debt securities | Level 2
Fair Value (Recurring) [Line Items]
Total marketable securities, Fair Value	6,183	13,848
Fair Value Measurements Recurring | Corporate debt securities | Level 3
Fair Value (Recurring) [Line Items]
Total marketable securities, Fair Value	0	0
Fair Value Measurements Recurring | Commercial paper
Fair Value (Recurring) [Line Items]
Total marketable securities, Fair Value	18,347	22,400
Fair Value Measurements Recurring | Commercial paper | Level 1
Fair Value (Recurring) [Line Items]
Total marketable securities, Fair Value	0	0
Fair Value Measurements Recurring | Commercial paper | Level 2
Fair Value (Recurring) [Line Items]
Total marketable securities, Fair Value	18,347	22,400
Fair Value Measurements Recurring | Commercial paper | Level 3
Fair Value (Recurring) [Line Items]
Total marketable securities, Fair Value	$ 0	$ 0

Balance Sheets Components - Sum

Balance Sheets Components - Summary of Property and Equipment, Net (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Property Plant And Equipment [Line Items]
Property and equipment, gross, finance lease	$ 35,795	$ 35,920
Less: Accumulated depreciation and amortization	(29,838)	(28,708)
Property and equipment, finance lease, net	5,957	7,212
Computer, equipment and software
Property Plant And Equipment [Line Items]
Property and equipment, gross, finance lease	31,111	31,243
Property and equipment, finance leases	4,900	5,300
Accumulated amortization, finance lease	4,000	4,000
Furniture and fixtures
Property Plant And Equipment [Line Items]
Property and equipment, gross	1,076	1,071
Leasehold improvements
Property Plant And Equipment [Line Items]
Property and equipment, gross	$ 3,608	$ 3,606

Balance Sheets Components - Add

Balance Sheets Components - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Balance Sheet Related Disclosures [Abstract]
Depreciation and amortization expense for property and equipment	$ 1.3	$ 1.2

Balance Sheets Components - Sch

Balance Sheets Components - Schedule of Property and Equipment, Net of Depreciation and Amortization, by Geographic Region (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Property Plant And Equipment [Line Items]
Total property and equipment, finance lease, net	$ 5,957	$ 7,212
United States
Property Plant And Equipment [Line Items]
Total property and equipment, finance lease, net	5,310	6,449
EMEA
Property Plant And Equipment [Line Items]
Total property and equipment, finance lease, net	608	722
Other
Property Plant And Equipment [Line Items]
Total property and equipment, finance lease, net	$ 39	$ 41

Balance Sheets Components - S_2

Balance Sheets Components - Summary of Accrued and Other Current Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Balance Sheet Related Disclosures [Abstract]
Accrued compensation and benefits	$ 6,138	$ 5,390
Accrued bonus and commissions	3,964	6,814
Other	7,220	6,261
Accrued and other current liabilities	$ 17,322	$ 18,465

Business Combination (Details)

Business Combination (Details) - Vibbio $ in Millions	Apr. 08, 2022 USD ($)
Business Acquisition [Line Items]
Purchase price	$ 3
Developed technology
Business Acquisition [Line Items]
Estimated fair value at acquisition date	$ 2.7

Intangible Assets - Acquired In

Intangible Assets - Acquired Intangible Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022
Acquired Finite-Lived Intangible Assets [Line Items]
Total, Gross Carrying Amount	$ 2,266	$ 2,424
Total, Accumulated Amortization	(555)	(445)
Total, Net Carrying Amount	1,711	1,979	$ 0
Developed technology
Acquired Finite-Lived Intangible Assets [Line Items]
Developed technology, before foreign currency translation, Gross Carrying Amount	2,700	2,700
Developed technology, before foreign currency translation, Accumulated Amortization	(575)	(434)
Developed technology, before foreign currency translation, Net Carrying Amount	2,125	2,266
Effect of foreign currency translation
Acquired Finite-Lived Intangible Assets [Line Items]
Effect of foreign currency translation, Gross Carrying Amount	(434)	(276)
Effect of foreign currency translation, Accumulated Amortization	20	(11)
Effect of foreign currency translation, Net Carrying Amount	$ (414)	$ (287)

Intangible Assets - Additional

Intangible Assets - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Useful life	4 years
Remaining amortization period	3 years
Amortization expense	$ 100
Intangible asset, net	$ 1,711	$ 1,979	$ 0

Intangible Assets - Future Amor

Intangible Assets - Future Amortization Expense (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Remaining 2023	$ 426
2024	568
2025	567
2026	150
Total, Net Carrying Amount	$ 1,711	$ 1,979	$ 0

Credit Facility- Revolving Line

Credit Facility- Revolving Line of Credit (Details) - USD ($)	1 Months Ended
	Sep. 30, 2021	Mar. 31, 2023	Mar. 31, 2022
Revolving Line of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 50,000,000
Borrowing capacity		$ 50,000,000
Percentage of unused facility fee to be paid quarterly	0.15%
Current portion of total borrowing amount, subject to debt to EBITDA ratio, financial covenant	$ 5,000,000
Revolving Line of Credit | Prime Rate
Debt Instrument [Line Items]
Debt instrument, interest rate		8%	3.50%
Revolving Credit Facility with at least $100 million deposit
Debt Instrument [Line Items]
Maximum borrowing capacity	50,000,000
Revolving Credit Facility with at least $100 million deposit | Bank Deposits | Minimum
Debt Instrument [Line Items]
Cash to be maintained per agreement	100,000,000
Revolving Credit Facility with less than $100 million deposit
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 50,000,000
Recurring revenue trailing period	5 months
Revolving Credit Facility with less than $100 million deposit | Bank Deposits | Maximum
Debt Instrument [Line Items]
Cash to be maintained per agreement	$ 100,000,000
Letter of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity	4,000,000
Letter of Credit | Property Lease Guarantee
Debt Instrument [Line Items]
Letters of credit outstanding, amount		$ 1,200,000
Credit Card Sublimit
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 1,000,000

Commitment and Contingencies -

Commitment and Contingencies - Purchase Obligations (Details) $ in Millions	Mar. 31, 2023 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Non-cancelable purchase commitments	$ 3.1
Non-cancelable purchase commitments, due 2023	2.1
Non-cancelable purchase commitments, due 2024	$ 1

Commitment and Contingencies _2

Commitment and Contingencies - Contingencies and Legal Proceedings (Details) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Consolidated Putative Class Action | Pending Litigation
Loss Contingencies [Line Items]
Accrued litigation expense	$ 0
Sales and Use Tax Assessments
Loss Contingencies [Line Items]
Accrual loss contingency	0	$ 0
Sales and Use Tax Assessments | Minimum
Loss Contingencies [Line Items]
Loss contingency, estimate of possible loss	0
Sales and Use Tax Assessments | Maximum
Loss Contingencies [Line Items]
Loss contingency, estimate of possible loss	$ 400,000

Stockholders_ Equity and Equi_3

Stockholders’ Equity and Equity Incentive Plan - Preferred Stock (Details) - Undesignated Preferred Stock - IPO	Feb. 05, 2021 $ / shares shares
Class Of Stock [Line Items]
Undesignated preferred stock shares authorized (in shares) | shares	10,000,000
Undesignated preferred stock par value (in dollars per share) | $ / shares	$ 0.0001

Stockholders_ Equity and Equi_4

Stockholders’ Equity and Equity Incentive Plan- Common Stock (Details)	Feb. 05, 2021 vote $ / shares shares	Mar. 31, 2023 $ / shares shares	Dec. 31, 2022 $ / shares shares
Class Of Stock [Line Items]
Common stock, authorized (in shares)		500,000,000	500,000,000
Common stock, par value (in dollars per share) | $ / shares	$ 0.0001	$ 0.0001	$ 0.0001
Number of votes per share | vote	1
Common Stock
Class Of Stock [Line Items]
Common stock, authorized (in shares)	500,000,000

Stockholders_ Equity and Equi_5

Stockholders’ Equity and Equity Incentive Plan - Common Stock Reserved for Future Issuance (Details) - shares	Mar. 31, 2023	Jan. 01, 2023	Dec. 31, 2022
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock options outstanding (in shares)	7,523,406		7,756,680
Number of shares available for future issuance (in shares)	21,880,630
2021 Equity Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock, shares available for grant (in shares)	7,186,550
Number of additional shares authorized (in shares)		2,377,740
2021 Employee Stock Purchase Plan | Employee Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock, shares available for grant (in shares)	1,977,559
Number of additional shares authorized (in shares)		475,548
Restricted Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Restricted stock outstanding (in shares)	5,193,115

Stockholders_ Equity and Equi_6

Stockholders’ Equity and Equity Incentive Plan - Summary of Stock Options (Details) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($) $ / shares shares
Number of Shares
Beginning balance (in shares) | shares	7,756,680
Granted (in shares) | shares	0
Exercised (in shares) | shares	(107,851)
Cancelled and forfeited (in shares) | shares	(125,423)
Ending balance (in shares) | shares	7,523,406
Vested and exercisable (in shares) | shares	6,172,635
Weighted- Average Exercise Price
Beginning balance (in dollars per share) | $ / shares	$ 6.96
Granted (in dollars per share) | $ / shares	0
Exercised (in dollars per share) | $ / shares	2.37
Cancelled and forfeited (in dollars per share) | $ / shares	17.30
Ending Balance (in dollars per share) | $ / shares	6.85
Vested and exercisable (in dollars per share) | $ / shares	$ 5.40
Ending balance, Weighted Average Remaining Contractual Life	5 years 6 months 3 days
Vested and exercisable, Weighted Average Remaining Contractual Life	5 years 29 days
Exercised, aggregate intrinsic value | $	$ 674
Outstanding ending balance, aggregate intrinsic value | $	34,111
Vested and exercisable, aggregate intrinsic value | $	$ 31,864

Stockholders_ Equity and Equi_7

Stockholders’ Equity and Equity Incentive Plan - Summary of RSU Activity Under Equity Incentive Plans and Related Information (Details) - Restricted stock units	3 Months Ended
	Mar. 31, 2023 $ / shares shares
Number of Shares
Unvested beginning balance (in shares) | shares	5,134,934
Granted (in shares) | shares	649,666
Vested (in shares) | shares	(478,356)
Cancelled and forfeited (in shares) | shares	(454,533)
Unvested ending balance (in shares) | shares	4,851,711
Weighted-Average Grant Date Fair Value
Unvested beginning balance (in dollars per share) | $ / shares	$ 14.37
Granted (in dollars per share) | $ / shares	9.14
Vested (in dollars per share) | $ / shares	16.22
Cancelled and forfeited (in dollars per share) | $ / shares	14.91
Unvested ending balance (in dollars per share) | $ / shares	$ 13.43

Stockholders_ Equity and Equi_8

Stockholders’ Equity and Equity Incentive Plan - Restricted Stock Unit Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Restricted stock units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total fair value of RSU vested	$ 7.8	$ 5.5

Stockholders_ Equity and Equi_9

Stockholders’ Equity and Equity Incentive Plan - Restricted Stock Unit with Performance Conditions (Details) - Executive Officer - Market-performance based restricted stock units - Share-based Payment Arrangement, Employee - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Granted (in shares)		341,404
Grant date fair value		$ 4.2
Requisite service period		3 years
Maximum payout range (as a percentage)		200%
Performance periods, maximum earned PSUs cap		2 years
Number of shares vested (in shares)	0
Share-Based Payment Arrangement, Tranche One
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Maximum payout range (as a percentage)		125%
Share-Based Payment Arrangement, Tranche Two
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Maximum payout range (as a percentage)		125%
Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Payout range (as a percentage)		0%
Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Payout range (as a percentage)		200%

Stockholders_ Equity and Equ_10

Stockholders’ Equity and Equity Incentive Plan - Summary of Share-based Compensation Expense by line item in the Condensed Consolidated Statements of Operations (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Class Of Stock [Line Items]
Stock-based compensation expense	$ 10,121	$ 9,507
Cost of revenue
Class Of Stock [Line Items]
Stock-based compensation expense	937	1,042
Cost of revenue | Subscription and other platform
Class Of Stock [Line Items]
Stock-based compensation expense	785	868
Cost of revenue | Professional services
Class Of Stock [Line Items]
Stock-based compensation expense	152	174
Sales and marketing
Class Of Stock [Line Items]
Stock-based compensation expense	3,057	3,692
Research and development
Class Of Stock [Line Items]
Stock-based compensation expense	2,021	1,981
General and administrative
Class Of Stock [Line Items]
Stock-based compensation expense	$ 4,106	$ 2,792

Stockholders_ Equity and Equ_11

Stockholders’ Equity and Equity Incentive Plan - Summary of Unrecognized Stock-based Compensation Expense (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($)
Employee Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized stock-based compensation expense	$ 51
Weighted-average amortization period	1 month 13 days
Stock options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized stock-based compensation expense	$ 21,093
Weighted-average amortization period	1 year 7 months 28 days
Restricted Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized stock-based compensation expense	$ 61,752
Weighted-average amortization period	2 years 6 months 29 days

Stockholders_ Equity and Equ_12

Stockholders’ Equity and Equity Incentive Plan - Repurchase of Common Stock (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	3 Months Ended
	May 08, 2023	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Amount available for future share repurchases		$ 69,000
Number of shares repurchased (in shares)		1,279,127	964,895
Average price per share (including commissions) (dollars per share)		$ 8.38	$ 14.81
Total repurchase costs		$ 10,720	$ 14,293
Subsequent Event
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Amount available for future share repurchases	$ 59,100
Number of shares repurchased (in shares)	1,129,369
Average price per share (including commissions) (dollars per share)	$ 8.76
Capital Return Program
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Capital return program, authorized amount		125,000
Share repurchase program, authorized amount				$ 50,000
Amount available for future share repurchases		$ 75,000

Stockholders_ Equity and Equ_13

Stockholders’ Equity and Equity Incentive Plan - Dividends (Details) - Capital Return Program - Subsequent Event $ / shares in Units, $ in Thousands	May 08, 2023 USD ($) $ / shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Declared cash dividends (in dollars per share) | $ / shares	$ 1.09
Declared dividends | $	$ 50,000

Other (Income) Expense, Net (De

Other (Income) Expense, Net (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Other Income and Expenses [Abstract]
Interest income	$ (958)	$ (380)
Amortization (accretion) on marketable securities	(1,826)	253
Foreign currency losses	265	326
Other	(53)	(22)
Other (income) expense, net	$ (2,572)	$ 177

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Provision for income taxes	$ 196	$ 82
Change in provision for (benefit from) income taxes	$ 100

Net Loss Per Share - Schedule o

Net Loss Per Share - Schedule of Computation of Basic and Diluted Net Income (Loss) Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Basic net income (loss) per share
Net loss	$ (17,590)	$ (15,479)
Net loss per share of common stock, basic (in dollars per share)	$ (0.37)	$ (0.32)
Net loss per share of common stock, diluted (in dollars per share)	$ (0.37)	$ (0.32)
Weighted-average common stock outstanding, basic (in shares)	47,304,983	47,631,813
Weighted-average common stock outstanding, diluted (in shares)	47,304,983	47,631,813

Net Loss Per Share - Schedule_2

Net Loss Per Share - Schedule of Potential Shares of Common Stock Excluded from Computation of Diluted Net Loss Per Share (Details) - shares	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Total antidilutive securities (in shares)	12,815,756	12,611,972
Stock options
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Total antidilutive securities (in shares)	7,523,406	8,643,616
Restricted stock units
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Total antidilutive securities (in shares)	4,851,711	3,855,788
Performance stock units
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Total antidilutive securities (in shares)	341,404	0
ESPP purchase rights
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Total antidilutive securities (in shares)	99,235	112,568

Related Party Transactions (Det

Related Party Transactions (Details) - Chief Executive Officer of Third-party Vendor - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Accounts Payable and Accrued Liabilities
Related Party Transaction [Line Items]
Related party transactions, amounts owed	$ 0.5		$ 0.7
Research and development
Related Party Transaction [Line Items]
Engineering and quality assurance costs	$ 0.7	$ 0.7

Restructuring - Additional Info

Restructuring - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Jun. 30, 2023
Restructuring Cost and Reserve [Line Items]
Restructuring, incurred cost, statement of income or comprehensive income, extensible enumeration, not disclosed, flag	restructuring costs
Cost Reduction And Cost Structure Reduction Plans
Restructuring Cost and Reserve [Line Items]
Paid restructuring costs	$ 2,400
Restructuring liability	900
Cost Reduction And Cost Structure Reduction Plans | Severance And One-time Termination Benefits
Restructuring Cost and Reserve [Line Items]
Total restructuring costs incurred	$ 3,053
Cost Structure Reduction Plan | Minimum | Forecast
Restructuring Cost and Reserve [Line Items]
Expected restructuring costs		$ 1,500
Cost Structure Reduction Plan | Maximum | Forecast
Restructuring Cost and Reserve [Line Items]
Expected restructuring costs		2,300
Cost Structure Reduction Plan | Facility Closing | Minimum | Forecast
Restructuring Cost and Reserve [Line Items]
Expected restructuring costs		1,300
Cost Structure Reduction Plan | Facility Closing | Maximum | Forecast
Restructuring Cost and Reserve [Line Items]
Expected restructuring costs		$ 1,500

Restructuring - Summary of Rest

Restructuring - Summary of Restructuring Costs (Details) - Cost Reduction And Cost Structure Reduction Plans - Severance And One-time Termination Benefits $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($)
Restructuring Cost and Reserve [Line Items]
Total restructuring costs incurred	$ 3,053
Cost of revenue
Restructuring Cost and Reserve [Line Items]
Total restructuring costs incurred	839
Sales and marketing
Restructuring Cost and Reserve [Line Items]
Total restructuring costs incurred	1,211
Research and development
Restructuring Cost and Reserve [Line Items]
Total restructuring costs incurred	773
General and administrative
Restructuring Cost and Reserve [Line Items]
Total restructuring costs incurred	230
Subscription and other platform
Restructuring Cost and Reserve [Line Items]
Total restructuring costs incurred	785
Professional services
Restructuring Cost and Reserve [Line Items]
Total restructuring costs incurred	$ 54