Yelp (YELP) 10-Q 7 May 21 2021 Q1 Quarterly report Financial data

Cover page

Cover page - shares	3 Months Ended
	Mar. 31, 2021	Apr. 30, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2021
Document Transition Report	false
Entity File Number	001-35444
Entity Registrant Name	YELP INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	20-1854266
Entity Address, Address Line One	140 New Montgomery Street, 9th 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	908-3801
Title of 12(b) Security	Common Stock, par value $0.000001 per share
Trading Symbol	YELP
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		74,497,869
Amendment Flag	false
Entity Central Index Key	0001345016
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 588,592	$ 595,875
Accounts receivable (net of allowance for doubtful accounts of $9,680 and $11,559 at March 31, 2021 and December 31, 2020, respectively)	88,750	88,400
Prepaid expenses and other current assets	26,004	28,450
Total current assets	703,346	712,725
Property, equipment and software, net	98,004	101,718
Operating lease right-of-use assets	161,967	168,209
Goodwill	106,914	109,261
Intangibles, net	12,806	13,521
Restricted cash	689	665
Other non-current assets	51,652	48,848
Total assets	1,135,378	1,154,947
Current liabilities:
Accounts payable and accrued liabilities	97,292	87,760
Operating lease liabilities — current	53,564	51,161
Deferred revenue	5,195	4,109
Total current liabilities	156,051	143,030
Operating lease liabilities — long-term	144,238	148,935
Other long-term liabilities	7,989	8,448
Total liabilities	308,278	300,413
Commitments and contingencies (Note 12)
Stockholders' equity:
Common stock, $0.000001 par value — 200,000,000 shares authorized, 75,153,089 shares issued and 75,065,259 shares outstanding at March 31, 2021, and 75,371,368 shares issued and 75,272,350 shares outstanding at December 31, 2020	0	0
Additional paid-in capital	1,428,890	1,398,248
Treasury stock	(3,313)	(2,964)
Accumulated other comprehensive loss	(9,559)	(6,807)
Accumulated deficit	(588,918)	(533,943)
Total stockholders' equity	827,100	854,534
Total liabilities and stockholders' equity	$ 1,135,378	$ 1,154,947

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Allowance for credit loss	$ 9,680	$ 11,559	$ 14,588	$ 7,686
Common stock, par value (in USD per share)	$ 0.000001	$ 0.000001
Common stock, shares authorized (in shares)	200,000,000	200,000,000
Common stock, shares issued (in shares)	75,153,089	75,371,368
Common stock, shares outstanding (in shares)	75,065,259	75,272,350

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Income Statement [Abstract]
Net revenue	$ 232,096	$ 249,901
Costs and expenses:
Cost of revenue (exclusive of depreciation and amortization shown separately below)	14,874	16,847
Sales and marketing	112,909	137,297
Product development	67,992	67,113
General and administrative	31,861	43,536
Depreciation and amortization	13,083	12,358
Restructuring	20	0
Total costs and expenses	240,739	277,151
Loss from operations	(8,643)	(27,250)
Other income, net	705	2,383
Loss before income taxes	(7,938)	(24,867)
Income tax provision (benefit)	(2,142)	(9,364)
Net loss attributable to common stockholders	$ (5,796)	$ (15,503)
Net loss per share attributable to common stockholders
Basic (in USD per share)	$ (0.08)	$ (0.22)
Diluted (in USD per share)	$ (0.08)	$ (0.22)
Weighted-average shares used to compute net loss per share attributable to common stockholders
Basic (in shares)	75,245	71,548
Diluted (in shares)	75,245	71,548

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Statement of Comprehensive Income [Abstract]
Net loss	$ (5,796)	$ (15,503)
Other comprehensive loss:
Foreign currency translation adjustments	(2,752)	(1,104)
Other comprehensive loss	(2,752)	(1,104)
Comprehensive loss	$ (8,548)	$ (16,607)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Common Stock	Additional Paid-In Capital	Treasury Stock	Accumulated Other Comprehensive Loss	Accumulated Deficit	Accumulated DeficitCumulative Effect, Period of Adoption, Adjustment
Balance (in shares) at Dec. 31, 2019			71,185,468
Balance at beginning at Dec. 31, 2019	$ 754,991	$ (34)	$ 0	$ 1,259,803	$ 0	$ (11,759)	$ (493,053)	$ (34)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon exercises of employee stock options (in shares)			200,847
Issuance of common stock upon exercises of employee stock options	2,585			2,585
Issuance of common stock upon vesting of RSUs (in shares)			501,531
Stock-based compensation (inclusive of capitalized stock-based compensation)	33,249			33,249
Shares withheld related to net share settlement of equity awards	(11,752)			(11,752)
Foreign currency adjustments	(1,104)					(1,104)
Net loss	(15,503)						(15,503)
Balance (in shares) at Mar. 31, 2020			71,887,846
Balance at end at Mar. 31, 2020	$ 762,432		$ 0	1,283,885	0	(12,863)	(508,590)
Balance (in shares) at Dec. 31, 2020	75,272,350		75,371,368
Balance at beginning at Dec. 31, 2020	$ 854,534		$ 0	1,398,248	(2,964)	(6,807)	(533,943)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon exercises of employee stock options (in shares)	525,194		523,944
Issuance of common stock upon exercises of employee stock options	$ 6,049			6,049
Issuance of common stock upon vesting of RSUs (in shares)			669,965
Stock-based compensation (inclusive of capitalized stock-based compensation)	41,519			41,519
Shares withheld related to net share settlement of equity awards	(16,926)			(16,926)
Repurchases of common stock	$ (49,528)				(49,528)
Retirement of common stock (in shares)	(1,412,188)		(1,412,188)
Retirement of common stock	$ 0				49,179		(49,179)
Foreign currency adjustments	(2,752)					(2,752)
Net loss	$ (5,796)						(5,796)
Balance (in shares) at Mar. 31, 2021	75,065,259		75,153,089
Balance at end at Mar. 31, 2021	$ 827,100		$ 0	$ 1,428,890	$ (3,313)	$ (9,559)	$ (588,918)

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Operating Activities
Net loss	$ (5,796)	$ (15,503)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	13,083	12,358
Provision for doubtful accounts	3,289	15,933
Stock-based compensation	39,245	31,750
Noncash lease cost	10,779	10,378
Deferred income taxes	(2,406)	(7,450)
Other adjustments, net	14	(287)
Changes in operating assets and liabilities:
Accounts receivable	(3,639)	5,024
Prepaid expenses and other assets	3,892	(4,118)
Operating lease liabilities	(6,871)	(6,663)
Accounts payable, accrued liabilities and other liabilities	7,341	(636)
Net cash provided by operating activities	58,931	40,786
Investing Activities
Sales and maturities of marketable securities — available-for-sale	0	164,215
Purchases of marketable securities — held-to-maturity	0	(87,438)
Maturities of marketable securities — held-to-maturity	0	93,200
Purchases of property, equipment and software	(6,005)	(7,053)
Other investing activities	29	295
Net cash (used in) provided by investing activities	(5,976)	163,219
Financing Activities
Proceeds from issuance of common stock for employee stock-based plans	6,049	2,585
Taxes paid related to the net share settlement of equity awards	(16,803)	(11,514)
Repurchases of common stock	(49,528)	0
Net cash used in financing activities	(60,282)	(8,929)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	68	(486)
Change in cash, cash equivalents and restricted cash	(7,259)	194,590
Cash, cash equivalents and restricted cash — Beginning of period	596,540	192,318
Cash, cash equivalents and restricted cash — End of period	589,281	386,908
Supplemental Disclosures of Other Cash Flow Information
Refunds received for income taxes, net	(704)	(290)
Supplemental Disclosures of Noncash Investing and Financing Activities
Purchases of property, equipment and software recorded in accounts payable and accrued liabilities	1,242	3,015
Tax liabilities related to net share settlement of equity awards included in accounts payable and accrued liabilities	43	1,043
Operating lease right-of-use assets obtained in exchange for new operating lease liabilities	4,497	11,833
Repurchases of common stock recorded in accrued liabilities	$ 2,041	$ 0

DESCRIPTION OF BUSINESS AND BAS

DESCRIPTION OF BUSINESS AND BASIS FOR PRESENTATION	3 Months Ended
	Mar. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business and Basis for Presentation	DESCRIPTION OF BUSINESS AND BASIS FOR PRESENTATION Yelp Inc. was incorporated in Delaware on September 3, 2004. Except where specifically noted or the context otherwise requires, the use of terms such as the "Company" and "Yelp" in these Notes to Condensed Consolidated Financial Statements refers to Yelp Inc. and its subsidiaries. Yelp is a trusted local resource for consumers and a partner in success for businesses of all sizes. Consumers trust Yelp for its extensive ratings and reviews of businesses across a broad range of categories, while businesses advertise on Yelp to reach its large audience of purchase-oriented and generally affluent consumers. Basis of Presentation The accompanying interim condensed consolidated financial statements are unaudited. These unaudited interim condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") and the applicable rules and regulations of the U.S. Securities and Exchange Commission ("SEC") regarding interim financial reporting. Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. Accordingly, these unaudited interim condensed consolidated financial statements should be read in conjunction with the consolidated financial statements contained in the Annual Report. The unaudited condensed consolidated balance sheet as of December 31, 2020 included herein was derived from the audited consolidated financial statements as of that date, but does not include all disclosures required by GAAP, including certain notes to the financial statements. The unaudited interim condensed consolidated financial statements have been prepared on the same basis as the audited consolidated financial statements, except as set forth under "Recently Adopted Accounting Pronouncements" below. In the opinion of management, the accompanying unaudited condensed consolidated financial statements include all adjustments of a normally recurring nature necessary for the fair presentation of the interim periods presented. Principles of Consolidation These unaudited interim condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated upon consolidation. Use of Estimates The preparation of the Company’s unaudited interim condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of income and expenses during the reporting period. These estimates are based on information available as of the date of the condensed consolidated financial statements; therefore, actual results could differ from management’s estimates. In early March 2020, COVID-19 was declared a global pandemic by the World Health Organization. Governments around the world, including in the United States, have implemented extensive measures in an effort to control the spread of COVID-19, including travel restrictions, limitations on business activity, quarantines and shelter-in-place orders. Due to the COVID-19 pandemic and the uncertainty of the extent of the impacts, certain estimates and assumptions have required and may continue to require increased judgment and carry a higher degree of variability and volatility than they did prior to the pandemic. As events continue to evolve and additional information becomes available, these estimates may materially change in future periods. Significant Accounting Policies There have been no material changes to the Company's significant accounting policies from those described in the Annual Report. Recently Adopted Accounting Pronouncements In December 2019, the Financial Accounting Standards Board issued Accounting Standards Update No. 2019-12, "Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes" ("ASU 2019-12"), which simplifies the accounting for income taxes by removing certain exceptions to the general principles for recording income taxes, while also simplifying certain recognition and allocation approaches to accounting for income taxes. The Company adopted ASU 2019-12 on January 1, 2021, and the adoption did not have a material impact on its consolidated financial statements.

CASH, CASH EQUIVALENTS AND REST

CASH, CASH EQUIVALENTS AND RESTRICTED CASH	3 Months Ended
	Mar. 31, 2021
Cash and Cash Equivalents [Abstract]
Cash, Cash Equivalents and Restricted Cash	CASH, CASH EQUIVALENTS AND RESTRICTED CASH Cash, cash equivalents and restricted cash as of March 31, 2021 and December 31, 2020 consisted of the following (in thousands): March 31, December 31, Cash $ 78,429 $ 85,750 Cash equivalents 510,163 510,125 Total cash and cash equivalents $ 588,592 $ 595,875 Restricted cash 689 665 Total cash, cash equivalents and restricted cash $ 589,281 $ 596,540

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	3 Months Ended
	Mar. 31, 2021
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	FAIR VALUE OF FINANCIAL INSTRUMENTS The Company’s investments in money market accounts are recorded as cash equivalents at fair value on the condensed consolidated balance sheets. The accounting guidance for fair value measurements prioritizes the inputs used in measuring fair value in the following hierarchy: Level 1 —Observable inputs, such as quoted prices in active markets, Level 2 —Inputs other than quoted prices in active markets that are observable either directly or indirectly, or Level 3 —Unobservable inputs in which there are little or no market data, which require the Company to develop its own assumptions. This hierarchy requires the Company to use observable market data, when available, to minimize the use of unobservable inputs when determining fair value. The Company’s money market funds are classified within Level 1 of the fair value hierarchy because they are valued using quoted prices in active markets. The Company's certificates of deposit are classified within Level 2 of the fair value hierarchy because they have been valued using inputs other than quoted prices in active markets that are observable directly or indirectly. The following table represents the fair value of the Company’s financial instruments, including those measured at fair value on a recurring basis, as of March 31, 2021 and December 31, 2020 (in thousands): March 31, 2021 December 31, 2020 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Cash equivalents: Money market funds $ 510,163 $ — $ — $ 510,163 $ 510,125 $ — $ — $ 510,125 Other investments: Certificates of deposit — 10,009 — 10,009 — 10,933 — 10,933 Total cash equivalents and other investments $ 510,163 $ 10,009 $ — $ 520,172 $ 510,125 $ 10,933 $ — $ 521,058 The certificates of deposit are reflected in prepaid expenses and other current assets on the condensed consolidated balance sheets as of March 31, 2021 and December 31, 2020.

MARKETABLE SECURITIES

MARKETABLE SECURITIES	3 Months Ended
	Mar. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Marketable Securities	MARKETABLE SECURITIES In March 2020, the Company changed its investment strategy in response to uncertainties resulting from the COVID-19 pandemic to allow for more flexibility in preserving liquidity, which led to the transfer of $300.2 million of amortized cost of its investment portfolio from a held-to-maturity classification to available-for-sale. As a result of this transfer, in March 2020, the Company reversed the allowance for credit loss that had been previously recorded upon adoption of Accounting Standards Update No. 2016-13, "Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments," and measured the securities at fair value as of the transfer date by recording an immaterial allowance for credit loss to other income, net and the remaining adjustment as an immaterial unrealized loss recorded to other comprehensive income. Following this transfer, during the three months ended March 31, 2020, the Company sold certain agency bonds that were classified as available-for-sale short- and long-term marketable securities for proceeds of $135.2 million. The Company reinvested the proceeds from the sales, along with $65.0 million from maturities and redemptions of marketable securities, into money market funds. The remaining short- and long-term marketable securities were sold during the three months ended June 30, 2020 for proceeds of $118.2 million. The proceeds, along with $8.0 million from maturities and redemptions, were also reinvested into money market funds. The Company recorded an immaterial net realized gain to other income, net as a result of the sales within the first six months of 2020.

PREPAID EXPENSES AND OTHER CURR

PREPAID EXPENSES AND OTHER CURRENT ASSETS	3 Months Ended
	Mar. 31, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid Expenses and Other Current Assets	PREPAID EXPENSES AND OTHER CURRENT ASSETS Prepaid expenses and other current assets as of March 31, 2021 and December 31, 2020 consisted of the following (in thousands): March 31, December 31, Prepaid expenses $ 10,343 $ 10,438 Certificates of deposit 10,000 10,930 Other current assets 5,661 7,082 Total prepaid expenses and other current assets $ 26,004 $ 28,450 Prepaid expenses include an immaterial amount of capitalized implementation costs incurred related to cloud computing arrangements that are service contracts. There was no amortization expense recognized for the capitalized cloud computing implementation costs for the three months ended March 31, 2021. Other current assets primarily consist of deferred costs related to unsettled share repurchases and income tax receivables.

PROPERTY, EQUIPMENT AND SOFTWAR

PROPERTY, EQUIPMENT AND SOFTWARE, NET	3 Months Ended
	Mar. 31, 2021
Property, Plant and Equipment [Abstract]
Property, Equipment and Software, Net	PROPERTY, EQUIPMENT AND SOFTWARE, NET Property, equipment and software, net as of March 31, 2021 and December 31, 2020 consisted of the following (in thousands): March 31, December 31, Capitalized website and internal-use software development costs $ 179,720 $ 171,831 Leasehold improvements 84,364 88,687 Computer equipment 45,725 46,581 Furniture and fixtures 17,894 18,339 Telecommunication 4,974 4,951 Software 1,717 1,717 Total 334,394 332,106 Less accumulated depreciation (236,390) (230,388) Property, equipment and software, net $ 98,004 $ 101,718

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS	3 Months Ended
	Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	GOODWILL AND INTANGIBLE ASSETS The Company’s goodwill is the result of its acquisitions of other businesses, and represents the excess of purchase consideration over the fair value of assets acquired and liabilities assumed. The Company performed its annual goodwill impairment analysis as of August 31, 2020 and concluded that goodwill was not impaired, as the fair value of the reporting unit exceeded its carrying value. The changes in carrying amount of goodwill during the three months ended March 31, 2021 were as follows (in thousands): Balance as of December 31, 2020 $ 109,261 Effect of currency translation (2,347) Balance as of March 31, 2021 $ 106,914 Intangible assets that were not fully amortized as of March 31, 2021 and December 31, 2020 consisted of the following (dollars in thousands): March 31, 2021 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Weighted Average Remaining Life Business relationships $ 9,918 $ (4,057) $ 5,861 7.6 years Developed technology 7,709 (6,542) 1,167 1.0 years Licensing agreements 6,129 (376) 5,753 8.9 years Domains and data licenses 2,869 (2,844) 25 2.2 years Total $ 26,625 $ (13,819) $ 12,806 December 31, 2020 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Weighted Average Remaining Life Business relationships $ 9,918 $ (3,814) $ 6,104 7.8 years Developed technology 7,709 (6,238) 1,471 1.2 years Licensing agreements 6,129 (215) 5,914 9.2 years Domain and data licenses 2,869 (2,837) 32 2.2 years Total $ 26,625 $ (13,104) $ 13,521 Amortization expense was $0.7 million in each of the three months ended March 31, 2021 and 2020. As of March 31, 2021, estimated future amortization expenses were as follows (in thousands): Remainder of 2021 $ 2,133 2022 1,676 2023 1,359 2024 1,353 2025 1,353 2026 1,353 Thereafter 3,579 Total amortization $ 12,806

LEASES

LEASES	3 Months Ended
	Mar. 31, 2021
Leases [Abstract]
Leases	LEASES The components of lease cost, net, for the three months ended March 31, 2021 and 2020 were as follows (in thousands): Three Months Ended 2021 2020 Operating lease cost $ 13,763 $ 13,811 Short-term lease cost (12 months or less) 137 360 Sublease income (1,628) (1,960) Total lease cost, net $ 12,272 $ 12,211 The Company's leases and subleases do not include any variable lease payments, residual value guarantees, related-party leases, or restrictions or covenants that would limit or prevent the Company from exercising its right to obtain substantially all of the economic benefits from use of the respective assets during the lease term. Supplemental cash flow information related to leases for the three months ended March 31, 2021 and 2020 was as follows (in thousands): Three Months Ended 2021 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 9,590 $ 10,108 As of March 31, 2021, maturities of lease liabilities were as follows (in thousands): Remainder of 2021 $ 42,729 2022 48,665 2023 45,778 2024 43,011 2025 22,444 2026 7,488 Thereafter 17,031 Total minimum lease payments 227,146 Less imputed interest (29,344) Present value of lease liabilities $ 197,802 As of March 31, 2021 and December 31, 2020, the weighted-average remaining lease terms and weighted-average discount rates were as follows: March 31, December 31, Weighted-average remaining lease term (years) — operating leases 4.9 5.1 Weighted-average discount rate — operating leases 5.9 % 6.0 % In October 2020, the Company entered into a lease agreement for an office facility in Toronto, Canada for which the lease term is expected to commence in August 2021 and expire in 2031. The Company expects to classify this as an operating lease and, as of March 31, 2021, expected to recognize operating lease cost of approximately $9.5 million over the life of the lease.

OTHER NON-CURRENT ASSETS

OTHER NON-CURRENT ASSETS	3 Months Ended
	Mar. 31, 2021
Other Assets, Noncurrent Disclosure [Abstract]
Other Non-Current Assets	OTHER NON-CURRENT ASSETS Other non-current assets as of March 31, 2021 and December 31, 2020 consisted of the following (in thousands): March 31, December 31, Deferred tax assets $ 33,654 $ 31,163 Deferred contract costs 14,490 14,522 Other non-current assets 3,508 3,163 Total other non-current assets $ 51,652 $ 48,848 Deferred contract costs as of March 31, 2021 and December 31, 2020, and changes in deferred contract costs during the three months ended March 31, 2021, were as follows (in thousands): Three Months Ended Balance, beginning of period $ 14,522 Add: costs deferred on new contracts 3,349 Less: amortization recorded in sales and marketing expenses (3,381) Balance, end of period $ 14,490

CONTRACT BALANCES

CONTRACT BALANCES	3 Months Ended
	Mar. 31, 2021
Revenue from Contract with Customer [Abstract]
Contract Balances	CONTRACT BALANCES The changes in the allowance for doubtful accounts during the three months ended March 31, 2021 and 2020 were as follows (in thousands): Three Months Ended 2021 2020 Balance, beginning of period $ 11,559 $ 7,686 Add: provision for doubtful accounts 3,289 15,933 Less: write-offs, net of recoveries (5,168) (9,031) Balance, end of period $ 9,680 $ 14,588 The net decrease in the allowance for doubtful accounts in the three months ended March 31, 2021 was primarily a result of a reduction in expected customer delinquencies compared to December 31, 2020, as collection rates continued to improve. The net increase in the allowance for doubtful accounts in the three months ended March 31, 2020 primarily related to an anticipated increase in customer delinquencies due to the COVID-19 pandemic. In calculating the allowance for doubtful accounts as of March 31, 2021 and March 31, 2020, the Company considered expectations of probable credit losses, and with respect to the 2020 period, probable credit losses associated with the COVID-19 pandemic, based on observed trends to date in cancellations, observed changes to date in the credit risk of specific customers, the impact of anticipated closures and bankruptcies using forecasted economic indicators in addition to historical experience and loss patterns during periods of macroeconomic uncertainty. Contract liabilities consist of deferred revenue, which is recorded on the condensed consolidated balance sheets when the Company has received consideration, or has the right to receive consideration, in advance of transferring the performance obligations under the contract to the customer. The changes in deferred revenue during the three months ended March 31, 2021 were as follows (in thousands): Three Months Ended Balance, beginning of period $ 4,109 Less: recognition of deferred revenue from beginning balance (2,293) Add: net increase in current period contract liabilities 3,379 Balance, end of period $ 5,195 The majority of the deferred revenue balance as of March 31, 2021 is expected to be recognized as revenue in the subsequent three-month period ending June 30, 2021. No other contract assets or liabilities are recorded on the Company's condensed consolidated balance sheets as of March 31, 2021 and December 31, 2020.

ACCOUNTS PAYABLE AND ACCRUED LI

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES	3 Months Ended
	Mar. 31, 2021
Payables and Accruals [Abstract]
Accounts Payable and Accrued Liabilities	ACCOUNTS PAYABLE AND ACCRUED LIABILITIES Accounts payable and accrued liabilities as of March 31, 2021 and December 31, 2020 consisted of the following (in thousands): March 31, December 31, Accounts payable $ 5,255 $ 8,853 Employee-related liabilities 68,514 57,684 Accrued sales and marketing expenses 6,079 2,137 Taxes payable 1,302 975 Accrued cost of revenue 6,507 8,269 Other accrued liabilities 9,635 9,842 Total accounts payable and accrued liabilities $ 97,292 $ 87,760

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES Legal Proceedings —In January 2018, a putative class action lawsuit alleging violations of the federal securities laws was filed in the U.S. District Court for the Northern District of California, naming as defendants the Company and certain of its officers. The complaint, which the plaintiff amended on June 25, 2018, alleges violations of the Exchange Act by the Company and its officers for allegedly making materially false and misleading statements regarding its business and operations on February 9, 2017. The plaintiff seeks unspecified monetary damages and other relief. On August 2, 2018, the Company and the other defendants filed a motion to dismiss the amended complaint, which the court granted in part and denied in part on November 27, 2018. On October 22, 2019, the Court approved a stipulation to certify a class in this action. The case remains pending. The Company is unable to reasonably estimate either the probability of incurring a loss or an estimated range of such loss, if any, from the lawsuit. The Company is subject to other legal proceedings arising in the ordinary course of business. Although the results of litigation and claims cannot be predicted with certainty, the Company currently does not believe that the final outcome of any of these other matters will have a material effect on the Company’s business, financial position, results of operations or cash flows. Indemnification Agreements —In the ordinary course of business, the Company may provide indemnifications of varying scope and terms to customers, vendors, lessors, business partners and other parties with respect to certain matters, including, but not limited to, losses arising out of breach of such agreements, services to be provided by the Company or from intellectual property infringement claims made by third parties. In addition, the Company has entered into indemnification agreements with directors and certain officers and employees that will require the Company to, among other things, indemnify them against certain liabilities that may arise by reason of their status or service as directors, officers or employees. While the outcome of claims cannot be predicted with certainty, the Company does not believe that the outcome of any claims under the indemnification arrangements will have a material effect on the Company’s business, financial position, results of operations or cash flows. Revolving Credit Facility —The Company is a party to a Credit Agreement with Wells Fargo Bank, National Association (the "Credit Agreement"), which provides for a three-year, $75.0 million senior unsecured revolving credit facility including a letter of credit sub-limit of $25.0 million. As of March 31, 2021, the Company had $21.5 million of letters of credit under the sub-limit related to lease agreements for certain office locations, which are required to be maintained and issued to the landlords of each facility, and $53.5 million remained available under the revolving credit facility as of this date. The Company was in compliance with all covenants associated with the credit facility and there were no loans outstanding under the Credit Agreement as of March 31, 2021. For additional information on the terms of the Credit Agreement, including fees payable by the Company, a minimum liquidity covenant, events of default and other limitations, see " Management's Discussion and Analysis of Financial Condition and Results of Operations—Liquidity and Capital Resources " included under Part II, Item 7 in our Annual Report.

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	3 Months Ended
	Mar. 31, 2021
Stockholders' Equity Note [Abstract]
Stockholders' Equity	STOCKHOLDERS’ EQUITY The following table presents the number of shares authorized and issued as of the dates indicated: March 31, 2021 December 31, 2020 Shares Authorized Shares Issued Shares Authorized Shares Issued Stockholders’ equity: Common stock, $0.000001 par value 200,000,000 75,153,089 200,000,000 75,371,368 Undesignated preferred stock 10,000,000 — 10,000,000 — Stock Repurchase Program In July 2017, the Company’s board of directors authorized a stock repurchase program under which the Company was authorized to repurchase up to $200.0 million of its outstanding common stock. The Company's board of directors authorized the Company to repurchase up to an additional $250.0 million of its outstanding common stock in each of November 2018, February 2019 and January 2020, bringing the total amount of authorized repurchases to $950.0 million as of March 31, 2021, $195.1 million of which remained available as of March 31, 2021. The Company may purchase shares at management’s discretion in the open market, in privately negotiated transactions, in transactions structured through investment banking institutions, or a combination of the foregoing. During the three months ended March 31, 2021, the Company repurchased on the open market 1,401,000 shares for an aggregate purchase price of $49.5 million and retired 1,412,188 shares. As of March 31, 2021, the Company had a treasury stock balance of 87,830 shares, which were excluded from its outstanding share count as of such date and subsequently retired in April 2021. The Company did not repurchase any shares during the three months ended March 31, 2020. Equity Incentive Plans Stock Options Stock options are granted at a price per share not less than the fair value of a share of the Company’s common stock on the grant date. Options generally vest over a four-year period, on one of two schedules: (a) 25% vesting at the end of one year and the remaining shares vesting monthly thereafter or (b) ratably on a monthly basis. Options granted are generally exercisable for contractual terms of up to 10 years. The Company issues new shares when stock options are exercised. A summary of stock option activity for the three months ended March 31, 2021 is as follows: Number of Shares Weighted-Average Exercise Price Weighted-Average Remaining Contractual Term (in years) Aggregate Intrinsic Value (in thousands) Outstanding at December 31, 2020 4,622,828 $ 29.89 4.7 $ 30,451 Exercised (525,194) 11.52 Canceled (9,046) 52.14 Outstanding at March 31, 2021 4,088,588 $ 32.20 4.9 $ 35,920 Options vested and exercisable at March 31, 2021 3,608,168 $ 31.63 4.6 $ 34,224 Aggregate intrinsic value represents the difference between the closing price of the Company’s common stock as quoted on the New York Stock Exchange on a given date and the exercise price of outstanding, in-the-money options. The total intrinsic value of options exercised was approximately $11.1 million and $4.2 million for the three months ended March 31, 2021 and 2020, respectively. There were no options granted during the three months ended March 31, 2021. The weighted-average grant date fair value of options granted during the three months ended March 31, 2020 was $11.13 per share. As of March 31, 2021, total unrecognized compensation costs related to nonvested stock options were approximately $7.5 million, which the Company expects to recognize over a weighted-average time period of 1.8 years. RSUs RSUs generally vest over a four-year period, on one of two schedules: (a) 25% vesting at the end of one year and the remaining vesting quarterly thereafter or (b) ratably on a quarterly basis. RSUs also include performance-based restricted stock units ("PRSUs"), which are subject to both a time-based vesting schedule and either (a) a market condition or (b) the achievement of performance goals. The time-based vesting schedule is quarterly over four years (the "Time-Based Vesting Schedule"). For PRSUs subject to a market condition, the Company recognizes expense from the date of grant. For PRSUs subject to performance goals, the Company recognizes expense when it is probable that the performance condition will be achieved. The shares underlying each PRSU award subject to a market condition will be eligible to vest only if the average closing price of the Company's common stock equals or exceeds $45.3125 over any 60-day trading period during the four years following the grant date of February 7, 2019. If this market condition is met, the shares underlying each PRSU award will vest according to the Time-Based Vesting Schedule. Any shares subject to the PRSUs that have met the Time-Based Vesting Schedule at the time the market condition is achieved will fully vest as of such date; thereafter, any remaining nonvested shares subject to the PRSUs will continue vesting solely according to the Time-Based Vesting Schedule, subject to the applicable employee's continued service as of each such vesting date. For PRSUs subject to performance goals, a percentage of the target number of shares, ranging from zero to 200%, will become eligible to vest based on the Company's level of achievement of certain financial targets, subject to the Time-Based Vesting Schedule. The shares subject to performance goals become eligible to vest once the achievement against the financial targets is known, which will be no later than March of the following year. On the quarterly vest date immediately following such determination (or a vest date otherwise specified in the agreement), the eligible shares, if any, will vest to the extent that the employee has met the Time-Based Vesting Schedule as of such date. Thereafter, the eligible shares will continue to vest in accordance with the Time-Based Vesting Schedule, subject to the applicable employee's continued service as of each such vesting date. The Company performed an analysis as of March 31, 2021 to assess the probability of achievement of the PRSU financial targets and, as a result, recorded compensation costs in the three months ended March 31, 2021 for the PRSUs that it expected to vest. As the PRSU activity during the three months ended March 31, 2021 was not material, it is presented together with the RSU activity in the table below. A summary of RSU and PRSU activity for the three months ended March 31, 2021 is as follows: Number of Shares Weighted-Average Grant Date Fair Value Nonvested at December 31, 2020 9,757,787 $ 29.22 Granted 4,267,758 35.82 Vested (1) (1,121,213) 32.73 Canceled (705,463) 31.68 Nonvested at March 31, 2021 12,198,869 $ 31.06 (1) Includes 451,223 shares that vested but were not issued due to net share settlement for payment of employee taxes. The aggregate fair value as of the vest date of RSUs that vested during the three months ended March 31, 2021 and 2020 was $42.1 million and $29.1 million, respectively. As of March 31, 2021, the Company had approximately $367.7 million of unrecognized stock-based compensation expense related to RSUs, which it expects to recognize over the remaining weighted-average vesting period of approximately 2.9 years. Employee Stock Purchase Plan The Employee Stock Purchase Plan ("ESPP") allows eligible employees to purchase shares of the Company’s common stock at a discount through payroll deductions of up to 15% of their eligible compensation, subject to any plan limitations, during designated offering periods. At the end of each offering period, employees are able to purchase shares at 85% of the fair market value of the Company’s common stock on the last day of the offering period, based on the closing sales price of the Company's common stock as quoted on the New York Stock Exchange on such date. There were no shares purchased by employees under the ESPP in the three months ended March 31, 2021 and 2020. The Company recognized stock-based compensation expense related to the ESPP of $0.8 million in each of the three months ended March 31, 2021 and 2020. Stock-Based Compensation The following table summarizes the effects of stock-based compensation expense related to stock-based awards in the condensed consolidated statements of operations during the periods presented (in thousands): Three Months Ended 2021 2020 Cost of revenue $ 1,108 $ 1,043 Sales and marketing 8,397 7,696 Product development 20,753 17,755 General and administrative 8,987 5,256 Total stock-based compensation recorded to loss before income taxes 39,245 31,750 Benefit from income taxes (10,065) (12,557) Total stock-based compensation recorded to net loss $ 29,180 $ 19,193

OTHER INCOME, NET

OTHER INCOME, NET	3 Months Ended
	Mar. 31, 2021
Other Income and Expenses [Abstract]
Other Income, Net	OTHER INCOME, NET Other income, net for the three months ended March 31, 2021 and 2020 consisted of the following (in thousands): Three Months Ended 2021 2020 Interest (expense) income, net $ (18) $ 2,106 Transaction gain (loss) on foreign exchange 257 (68) Other non-operating income, net 466 345 Other income, net $ 705 $ 2,383

INCOME TAXES

INCOME TAXES	3 Months Ended
	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES The Company is subject to income tax in the United States as well as other tax jurisdictions in which it conducts business. Earnings from non-U.S. activities are subject to local country income tax. The benefit from income taxes for the three months ended March 31, 2021 was $2.1 million, which was due to $1.8 million of U.S. federal, state and foreign income tax expense, offset by $3.9 million of net discrete tax benefit primarily related to stock-based compensation. The benefit from income taxes for the three months ended March 31, 2020 was $9.4 million, which was due to $9.6 million of U.S. federal, state and foreign income tax benefit, offset by $0.2 million of net discrete tax expense. On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (the "CARES Act") was signed into law. The CARES Act includes, among other items, provisions relating to refundable payroll tax credits, deferral of the employer portion of certain payroll taxes, net operating loss carryback periods, alternative minimum tax credit refunds, modifications to the net interest deduction limitations and technical corrections to tax depreciation methods for qualified improvement property. The CARES Act allows losses incurred in 2018, 2019 and 2020 to be carried back to each of the five preceding tax years and to offset 100% of regular taxable income. Additionally, the CARES Act accelerates the Company’s ability to receive refunds of alternative minimum tax credits generated in prior tax years. Accounting for income taxes for interim periods generally requires the provision for income taxes to be determined by applying an estimate of the annual effective tax rate for the full fiscal year to income or loss before income taxes, excluding unusual or infrequently occurring discrete items ("Ordinary" income), for the reporting period. For the three months ended March 31, 2021, the difference between the effective tax rate and the federal statutory tax rate primarily related to tax credits, offset by non-deductible expenses. For the three months ended March 31, 2020, the difference between the effective tax rate and the federal statutory tax rate primarily related to net operating loss provisions adopted under the CARES Act and tax credits. As of March 31, 2021, the total amount of gross unrecognized tax benefits was $50.5 million, $22.0 million of which was subject to a full valuation allowance and would not affect the Company’s effective tax rate if recognized. In the three months ended March 31, 2021, the Company recorded an immaterial amount of interest and penalties. As of March 31, 2021, the Company estimated that it had accumulated undistributed earnings generated by its foreign subsidiaries of approximately $6.9 million. Any taxes due with respect to such earnings or the excess of the amount for financial reporting over the tax basis of the Company's foreign investments would generally be limited to foreign and state taxes. The Company has not recognized a deferred tax liability related to un-remitted foreign earnings, as it intends to indefinitely reinvest these earnings, and expects future U.S. cash generation to be sufficient to meet future U.S. cash needs. In addition, the Company is subject to the continuous examination of its income tax returns by the Internal Revenue Service and other tax authorities. The Company’s federal and state income tax returns for tax years subsequent to 2003 remain open to examination. In the Company’s foreign jurisdictions — Canada, Germany, Ireland and the United Kingdom — the tax years subsequent to 2015 remain open to examination. The Company regularly assesses the likelihood of adverse outcomes resulting from examinations to determine the adequacy of its provision for income taxes and monitors the progress of ongoing discussions with tax authorities and the impact, if any, of the expected expiration of the statute of limitations in various taxing jurisdictions. The Company believes that an adequate provision has been made for any adjustments that may result from tax examinations. However, the outcome of tax audits cannot be predicted with certainty. If any issues addressed in the Company’s tax audits are resolved in a manner not consistent with management’s expectations, the Company could be required to adjust its provision for income taxes in the period such resolution occurs. As of March 31, 2021, although the timing of the resolution or closure of audits is not certain, the Company believes it is reasonably possible that its unrecognized tax benefits could be reduced by $6.3 million over the next 12 months.

NET LOSS PER SHARE

NET LOSS PER SHARE	3 Months Ended
	Mar. 31, 2021
Earnings Per Share [Abstract]
Net Loss Per Share	NET LOSS PER SHARE Basic net loss per share is computed using the weighted-average number of outstanding shares of common stock during the period. Diluted net loss per share is computed using the weighted-average number of outstanding shares of common stock and, when dilutive, potential shares of common stock outstanding during the period. Potential common shares consist of the incremental shares of common stock issuable upon the exercise of stock options, shares issuable upon the vesting of RSUs (including PRSUs) and, to a lesser extent, purchase rights related to the ESPP. The following table presents the calculation of basic and diluted net loss per share for the periods presented (in thousands, except per share data): Three Months Ended 2021 2020 Basic net loss per share: Net loss $ (5,796) $ (15,503) Shares used in computation: Weighted-average common shares outstanding 75,245 71,548 Basic net loss per share attributable to common stockholders $ (0.08) $ (0.22) Three Months Ended 2021 2020 Diluted net loss per share: Net loss $ (5,796) $ (15,503) Shares used in computation: Weighted-average common shares outstanding 75,245 71,548 Diluted net loss per share attributable to common stockholders $ (0.08) $ (0.22) The following stock-based instruments were excluded from the calculation of diluted net loss per share because their effect would have been anti-dilutive for the periods presented (in thousands): Three Months Ended 2021 2020 Stock options 4,089 6,019 RSUs 12,199 9,027 ESPP 213 243

INFORMATION ABOUT REVENUE AND G

INFORMATION ABOUT REVENUE AND GEOGRAPHIC AREAS	3 Months Ended
	Mar. 31, 2021
Segment Reporting [Abstract]
Information About Revenue and Geographic Areas	INFORMATION ABOUT REVENUE AND GEOGRAPHIC AREAS The Company considers operating segments to be components of the Company for which separate financial information is available and evaluated regularly by the Company’s chief operating decision maker in deciding how to allocate resources and in assessing performance. The chief operating decision maker for the Company is the chief executive officer. The chief executive officer reviews financial information presented on a consolidated basis, accompanied by information about revenue by product line and geographic region for purposes of allocating resources and evaluating financial performance. The Company has determined that it has a single operating and reporting segment. When the Company communicates results externally, it disaggregates net revenue into major product lines and primary geographical markets, which is based on the billing address of the customer. The disaggregation of revenue by major product lines is based on the type of service provided and also aligns with the timing of revenue recognition for each. To reflect the Company's strategic focus on creating differentiated experiences for its Services categories and Restaurants, Retail & Other categories, the Company further disaggregates advertising revenue to reflect these two high-level category groupings. The Services categories consist of the following businesses: home, local, auto, professional, pets, events, real estate and financial services. The Restaurants, Retail & Other categories consist of the following businesses: restaurants, shopping, beauty & fitness, health and other. Net Revenue The following table presents the Company’s net revenue by major product line (and by category for advertising revenue) for the periods presented (in thousands): Three Months Ended 2021 2020 Net revenue by product: Advertising revenue by category: Services $ 140,687 $ 133,082 Restaurants, Retail & Other 81,300 107,011 Advertising 221,987 240,093 Transactions 3,804 2,639 Other 6,305 7,169 Total net revenue $ 232,096 $ 249,901 During the three months ended March 31, 2021 and 2020, no individual customer accounted for 10% or more of consolidated net revenue. As a result of the COVID-19 pandemic, the Company considered whether there was any impact to the manner in which revenue is recognized, in particular with respect to the collectability criteria for recognizing revenue from contracts with customers. The Company did not change the manner in which it recognizes revenue as a result of that assessment. During the three months ended March 31, 2021 and 2020, the Company offered a number of relief incentives totaling $2.2 million and $4.6 million, respectively, to advertising and other revenue customers most impacted by the COVID-19 pandemic. These incentives were primarily in the form of waived advertising fees and waived subscription fees. The Company accounted for these incentives as price concessions and reduced net revenue recognized in the three months ended March 31, 2021 and 2020 accordingly. The following table presents the Company’s net revenue by major geographic region for the periods presented (in thousands): Three Months Ended 2021 2020 United States $ 229,995 $ 246,527 All other countries 2,101 3,374 Total net revenue $ 232,096 $ 249,901 Long-Lived Assets The following table presents the Company’s long-lived assets by major geographic region for the periods presented (in thousands): March 31, December 31, United States $ 93,965 $ 97,548 All other countries 4,039 4,170 Total long-lived assets $ 98,004 $ 101,718

RESTRUCTURING

RESTRUCTURING	3 Months Ended
	Mar. 31, 2021
Restructuring and Related Activities [Abstract]
Restructuring	RESTRUCTURING In April 2020, the Company announced a restructuring plan to help manage the near-term financial impacts of the COVID-19 pandemic (the "Restructuring Plan"). In addition to reductions and deferrals in spending, the Restructuring Plan’s cost-cutting measures included workforce reductions affecting approximately 1,000 employees and furloughs affecting approximately 1,100 additional employees, as well as salary reductions and reduced-hour work weeks. In July 2020, the Company announced an additional workforce reduction (separate from the Restructuring Plan) affecting approximately 60 employees. During the three months ended September 30, 2020, the Company restored reduced salaries and returned many of its furloughed employees. The Company incurred an immaterial amount of restructuring costs during the three months ended March 31, 2021 and does not expect to incur any material additional restructuring costs. The restructuring costs were recorded as restructuring expenses on the Company's condensed consolidated statements of operations.

DESCRIPTION OF BUSINESS AND B_2

DESCRIPTION OF BUSINESS AND BASIS FOR PRESENTATION (Policies)	3 Months Ended
	Mar. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying interim condensed consolidated financial statements are unaudited. These unaudited interim condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") and the applicable rules and regulations of the U.S. Securities and Exchange Commission ("SEC") regarding interim financial reporting. Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. Accordingly, these unaudited interim condensed consolidated financial statements should be read in conjunction with the consolidated financial statements contained in the Annual Report. The unaudited condensed consolidated balance sheet as of December 31, 2020 included herein was derived from the audited consolidated financial statements as of that date, but does not include all disclosures required by GAAP, including certain notes to the financial statements. The unaudited interim condensed consolidated financial statements have been prepared on the same basis as the audited consolidated financial statements, except as set forth under "Recently Adopted Accounting Pronouncements" below. In the opinion of management, the accompanying unaudited condensed consolidated financial statements include all adjustments of a normally recurring nature necessary for the fair presentation of the interim periods presented.
Principles of Consolidation	Principles of Consolidation These unaudited interim condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated upon consolidation.
Use of Estimates	Use of Estimates The preparation of the Company’s unaudited interim condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of income and expenses during the reporting period. These estimates are based on information available as of the date of the condensed consolidated financial statements; therefore, actual results could differ from management’s estimates. In early March 2020, COVID-19 was declared a global pandemic by the World Health Organization. Governments around the world, including in the United States, have implemented extensive measures in an effort to control the spread of COVID-19, including travel restrictions, limitations on business activity, quarantines and shelter-in-place orders. Due to the COVID-19 pandemic and the uncertainty of the extent of the impacts, certain estimates and assumptions have required and may continue to require increased judgment and carry a higher degree of variability and volatility than they did prior to the pandemic. As events continue to evolve and additional information becomes available, these estimates may materially change in future periods.
Recently Adopted Accounting Pronouncements and Recent Accounting Pronouncements Not Yet Effective	Recently Adopted Accounting Pronouncements In December 2019, the Financial Accounting Standards Board issued Accounting Standards Update No. 2019-12, "Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes" ("ASU 2019-12"), which simplifies the accounting for income taxes by removing certain exceptions to the general principles for recording income taxes, while also simplifying certain recognition and allocation approaches to accounting for income taxes. The Company adopted ASU 2019-12 on January 1, 2021, and the adoption did not have a material impact on its consolidated financial statements.

CASH, CASH EQUIVALENTS AND RE_2

CASH, CASH EQUIVALENTS AND RESTRICTED CASH (Tables)	3 Months Ended
	Mar. 31, 2021
Cash and Cash Equivalents [Abstract]
Schedule of Cash and Cash Equivalents	Cash, cash equivalents and restricted cash as of March 31, 2021 and December 31, 2020 consisted of the following (in thousands): March 31, December 31, Cash $ 78,429 $ 85,750 Cash equivalents 510,163 510,125 Total cash and cash equivalents $ 588,592 $ 595,875 Restricted cash 689 665 Total cash, cash equivalents and restricted cash $ 589,281 $ 596,540
Restrictions on Cash and Cash Equivalents	Cash, cash equivalents and restricted cash as of March 31, 2021 and December 31, 2020 consisted of the following (in thousands): March 31, December 31, Cash $ 78,429 $ 85,750 Cash equivalents 510,163 510,125 Total cash and cash equivalents $ 588,592 $ 595,875 Restricted cash 689 665 Total cash, cash equivalents and restricted cash $ 589,281 $ 596,540

FAIR VALUE OF FINANCIAL INSTR_2

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	3 Months Ended
	Mar. 31, 2021
Fair Value Disclosures [Abstract]
Schedule of Financial Instruments Measured at Fair Value	The following table represents the fair value of the Company’s financial instruments, including those measured at fair value on a recurring basis, as of March 31, 2021 and December 31, 2020 (in thousands): March 31, 2021 December 31, 2020 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Cash equivalents: Money market funds $ 510,163 $ — $ — $ 510,163 $ 510,125 $ — $ — $ 510,125 Other investments: Certificates of deposit — 10,009 — 10,009 — 10,933 — 10,933 Total cash equivalents and other investments $ 510,163 $ 10,009 $ — $ 520,172 $ 510,125 $ 10,933 $ — $ 521,058

PREPAID EXPENSES AND OTHER CU_2

PREPAID EXPENSES AND OTHER CURRENT ASSETS (Tables)	3 Months Ended
	Mar. 31, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Prepaid Expenses and Other Current Assets	Prepaid expenses and other current assets as of March 31, 2021 and December 31, 2020 consisted of the following (in thousands): March 31, December 31, Prepaid expenses $ 10,343 $ 10,438 Certificates of deposit 10,000 10,930 Other current assets 5,661 7,082 Total prepaid expenses and other current assets $ 26,004 $ 28,450

PROPERTY, EQUIPMENT, AND SOFTWA

PROPERTY, EQUIPMENT, AND SOFTWARE, NET (Tables)	3 Months Ended
	Mar. 31, 2021
Property, Plant and Equipment [Abstract]
Schedule of Property, Equipment and Software, Net	Property, equipment and software, net as of March 31, 2021 and December 31, 2020 consisted of the following (in thousands): March 31, December 31, Capitalized website and internal-use software development costs $ 179,720 $ 171,831 Leasehold improvements 84,364 88,687 Computer equipment 45,725 46,581 Furniture and fixtures 17,894 18,339 Telecommunication 4,974 4,951 Software 1,717 1,717 Total 334,394 332,106 Less accumulated depreciation (236,390) (230,388) Property, equipment and software, net $ 98,004 $ 101,718

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS (Tables)	3 Months Ended
	Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The changes in carrying amount of goodwill during the three months ended March 31, 2021 were as follows (in thousands): Balance as of December 31, 2020 $ 109,261 Effect of currency translation (2,347) Balance as of March 31, 2021 $ 106,914
Schedule of Intangible Assets	Intangible assets that were not fully amortized as of March 31, 2021 and December 31, 2020 consisted of the following (dollars in thousands): March 31, 2021 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Weighted Average Remaining Life Business relationships $ 9,918 $ (4,057) $ 5,861 7.6 years Developed technology 7,709 (6,542) 1,167 1.0 years Licensing agreements 6,129 (376) 5,753 8.9 years Domains and data licenses 2,869 (2,844) 25 2.2 years Total $ 26,625 $ (13,819) $ 12,806 December 31, 2020 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Weighted Average Remaining Life Business relationships $ 9,918 $ (3,814) $ 6,104 7.8 years Developed technology 7,709 (6,238) 1,471 1.2 years Licensing agreements 6,129 (215) 5,914 9.2 years Domain and data licenses 2,869 (2,837) 32 2.2 years Total $ 26,625 $ (13,104) $ 13,521
Schedule of Future Amortization Expense	As of March 31, 2021, estimated future amortization expenses were as follows (in thousands): Remainder of 2021 $ 2,133 2022 1,676 2023 1,359 2024 1,353 2025 1,353 2026 1,353 Thereafter 3,579 Total amortization $ 12,806

LEASES (Tables)

LEASES (Tables)	3 Months Ended
	Mar. 31, 2021
Leases [Abstract]
Lease Cost and Supplemental Cash Flow Information	The components of lease cost, net, for the three months ended March 31, 2021 and 2020 were as follows (in thousands): Three Months Ended 2021 2020 Operating lease cost $ 13,763 $ 13,811 Short-term lease cost (12 months or less) 137 360 Sublease income (1,628) (1,960) Total lease cost, net $ 12,272 $ 12,211 Supplemental cash flow information related to leases for the three months ended March 31, 2021 and 2020 was as follows (in thousands): Three Months Ended 2021 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 9,590 $ 10,108
Lessee, Operating Lease, Liability, Maturity	As of March 31, 2021, maturities of lease liabilities were as follows (in thousands): Remainder of 2021 $ 42,729 2022 48,665 2023 45,778 2024 43,011 2025 22,444 2026 7,488 Thereafter 17,031 Total minimum lease payments 227,146 Less imputed interest (29,344) Present value of lease liabilities $ 197,802
Assets And Liabilities, Lessee Information	As of March 31, 2021 and December 31, 2020, the weighted-average remaining lease terms and weighted-average discount rates were as follows: March 31, December 31, Weighted-average remaining lease term (years) — operating leases 4.9 5.1 Weighted-average discount rate — operating leases 5.9 % 6.0 %

OTHER NON-CURRENT ASSETS (Table

OTHER NON-CURRENT ASSETS (Tables)	3 Months Ended
	Mar. 31, 2021
Other Assets, Noncurrent Disclosure [Abstract]
Schedule of Other Non-Current Assets	Other non-current assets as of March 31, 2021 and December 31, 2020 consisted of the following (in thousands): March 31, December 31, Deferred tax assets $ 33,654 $ 31,163 Deferred contract costs 14,490 14,522 Other non-current assets 3,508 3,163 Total other non-current assets $ 51,652 $ 48,848
Capitalized Contract Cost	Deferred contract costs as of March 31, 2021 and December 31, 2020, and changes in deferred contract costs during the three months ended March 31, 2021, were as follows (in thousands): Three Months Ended Balance, beginning of period $ 14,522 Add: costs deferred on new contracts 3,349 Less: amortization recorded in sales and marketing expenses (3,381) Balance, end of period $ 14,490

CONTRACT BALANCES (Tables)

CONTRACT BALANCES (Tables)	3 Months Ended
	Mar. 31, 2021
Revenue from Contract with Customer [Abstract]
Schedule of Allowance for Doubtful Accounts Receivable	The changes in the allowance for doubtful accounts during the three months ended March 31, 2021 and 2020 were as follows (in thousands): Three Months Ended 2021 2020 Balance, beginning of period $ 11,559 $ 7,686 Add: provision for doubtful accounts 3,289 15,933 Less: write-offs, net of recoveries (5,168) (9,031) Balance, end of period $ 9,680 $ 14,588
Contract with Customer, Liability	The changes in deferred revenue during the three months ended March 31, 2021 were as follows (in thousands): Three Months Ended Balance, beginning of period $ 4,109 Less: recognition of deferred revenue from beginning balance (2,293) Add: net increase in current period contract liabilities 3,379 Balance, end of period $ 5,195

ACCOUNTS PAYABLE AND ACCRUED _2

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES (Tables)	3 Months Ended
	Mar. 31, 2021
Payables and Accruals [Abstract]
Schedule of Accrued Liabilities	Accounts payable and accrued liabilities as of March 31, 2021 and December 31, 2020 consisted of the following (in thousands): March 31, December 31, Accounts payable $ 5,255 $ 8,853 Employee-related liabilities 68,514 57,684 Accrued sales and marketing expenses 6,079 2,137 Taxes payable 1,302 975 Accrued cost of revenue 6,507 8,269 Other accrued liabilities 9,635 9,842 Total accounts payable and accrued liabilities $ 97,292 $ 87,760

STOCKHOLDERS' EQUITY (Tables)

STOCKHOLDERS' EQUITY (Tables)	3 Months Ended
	Mar. 31, 2021
Stockholders' Equity Note [Abstract]
Schedule of Stock by Class	The following table presents the number of shares authorized and issued as of the dates indicated: March 31, 2021 December 31, 2020 Shares Authorized Shares Issued Shares Authorized Shares Issued Stockholders’ equity: Common stock, $0.000001 par value 200,000,000 75,153,089 200,000,000 75,371,368 Undesignated preferred stock 10,000,000 — 10,000,000 —
Schedule of Stock Option Activity	A summary of stock option activity for the three months ended March 31, 2021 is as follows: Number of Shares Weighted-Average Exercise Price Weighted-Average Remaining Contractual Term (in years) Aggregate Intrinsic Value (in thousands) Outstanding at December 31, 2020 4,622,828 $ 29.89 4.7 $ 30,451 Exercised (525,194) 11.52 Canceled (9,046) 52.14 Outstanding at March 31, 2021 4,088,588 $ 32.20 4.9 $ 35,920 Options vested and exercisable at March 31, 2021 3,608,168 $ 31.63 4.6 $ 34,224
Schedule of RSU Activity	A summary of RSU and PRSU activity for the three months ended March 31, 2021 is as follows: Number of Shares Weighted-Average Grant Date Fair Value Nonvested at December 31, 2020 9,757,787 $ 29.22 Granted 4,267,758 35.82 Vested (1) (1,121,213) 32.73 Canceled (705,463) 31.68 Nonvested at March 31, 2021 12,198,869 $ 31.06 (1) Includes 451,223 shares that vested but were not issued due to net share settlement for payment of employee taxes.
Schedule of Stock-Based Compensation Expense	The following table summarizes the effects of stock-based compensation expense related to stock-based awards in the condensed consolidated statements of operations during the periods presented (in thousands): Three Months Ended 2021 2020 Cost of revenue $ 1,108 $ 1,043 Sales and marketing 8,397 7,696 Product development 20,753 17,755 General and administrative 8,987 5,256 Total stock-based compensation recorded to loss before income taxes 39,245 31,750 Benefit from income taxes (10,065) (12,557) Total stock-based compensation recorded to net loss $ 29,180 $ 19,193

OTHER INCOME, NET (Tables)

OTHER INCOME, NET (Tables)	3 Months Ended
	Mar. 31, 2021
Other Income and Expenses [Abstract]
Schedule of Other Income, Net	Other income, net for the three months ended March 31, 2021 and 2020 consisted of the following (in thousands): Three Months Ended 2021 2020 Interest (expense) income, net $ (18) $ 2,106 Transaction gain (loss) on foreign exchange 257 (68) Other non-operating income, net 466 345 Other income, net $ 705 $ 2,383

NET (LOSS) INCOME PER SHARE (Ta

NET (LOSS) INCOME PER SHARE (Tables)	3 Months Ended
	Mar. 31, 2021
Earnings Per Share [Abstract]
Schedule of Calculation of Basic and Diluted Net Income (Loss) Per Share	The following table presents the calculation of basic and diluted net loss per share for the periods presented (in thousands, except per share data): Three Months Ended 2021 2020 Basic net loss per share: Net loss $ (5,796) $ (15,503) Shares used in computation: Weighted-average common shares outstanding 75,245 71,548 Basic net loss per share attributable to common stockholders $ (0.08) $ (0.22) Three Months Ended 2021 2020 Diluted net loss per share: Net loss $ (5,796) $ (15,503) Shares used in computation: Weighted-average common shares outstanding 75,245 71,548 Diluted net loss per share attributable to common stockholders $ (0.08) $ (0.22)
Schedule of Anti-dilutive Securities	The following stock-based instruments were excluded from the calculation of diluted net loss per share because their effect would have been anti-dilutive for the periods presented (in thousands): Three Months Ended 2021 2020 Stock options 4,089 6,019 RSUs 12,199 9,027 ESPP 213 243

INFORMATION ABOUT REVENUE AND_2

INFORMATION ABOUT REVENUE AND GEOGRAPHIC AREAS (Tables)	3 Months Ended
	Mar. 31, 2021
Segment Reporting [Abstract]
Schedule of Revenue by Product Line	The following table presents the Company’s net revenue by major product line (and by category for advertising revenue) for the periods presented (in thousands): Three Months Ended 2021 2020 Net revenue by product: Advertising revenue by category: Services $ 140,687 $ 133,082 Restaurants, Retail & Other 81,300 107,011 Advertising 221,987 240,093 Transactions 3,804 2,639 Other 6,305 7,169 Total net revenue $ 232,096 $ 249,901
Schedule of Net Revenue by Geographic Region	The following table presents the Company’s net revenue by major geographic region for the periods presented (in thousands): Three Months Ended 2021 2020 United States $ 229,995 $ 246,527 All other countries 2,101 3,374 Total net revenue $ 232,096 $ 249,901
Schedule of Long-Lived Assets by Geographic Location	The following table presents the Company’s long-lived assets by major geographic region for the periods presented (in thousands): March 31, December 31, United States $ 93,965 $ 97,548 All other countries 4,039 4,170 Total long-lived assets $ 98,004 $ 101,718

CASH, CASH EQUIVALENTS AND RE_3

CASH, CASH EQUIVALENTS AND RESTRICTED CASH (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019
Cash and Cash Equivalents [Abstract]
Cash	$ 78,429	$ 85,750
Cash equivalents	510,163	510,125
Total cash and cash equivalents	588,592	595,875
Restricted cash	689	665
Total cash, cash equivalents and restricted cash	$ 589,281	$ 596,540	$ 386,908	$ 192,318

FAIR VALUE OF FINANCIAL INSTR_3

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details) - Recurring - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents and other investments	$ 520,172	$ 521,058
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents and other investments	510,163	510,125
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents and other investments	10,009	10,933
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents and other investments	0	0
Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other investments:	10,009	10,933
Certificates of deposit | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other investments:	0	0
Certificates of deposit | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other investments:	10,009	10,933
Certificates of deposit | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other investments:	0	0
Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents:	510,163	510,125
Money market funds | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents:	510,163	510,125
Money market funds | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents:	0	0
Money market funds | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents:	$ 0	$ 0

MARKETABLE SECURITIES - Narrati

MARKETABLE SECURITIES - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2020	Mar. 31, 2020
Statement of Financial Position [Abstract]
Debt securities, available-for-sale, amortized cost		$ 300.2
Proceeds from sale of debt securities, available-for-sale	$ 118.2	135.2
Proceeds from maturities reinvested	$ 8	$ 65

PREPAID EXPENSES AND OTHER CU_3

PREPAID EXPENSES AND OTHER CURRENT ASSETS (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid expenses	$ 10,343	$ 10,438
Certificates of deposit	10,000	10,930
Other current assets	5,661	7,082
Total prepaid expenses and other current assets	$ 26,004	$ 28,450

PREPAID EXPENSES AND OTHER CU_4

PREPAID EXPENSES AND OTHER CURRENT ASSETS (Narrative) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Prepaid Expenses and Other Current Assets [Line Items]
Amortization expense	$ 700,000	$ 700,000
Cloud Computing Implementation Cost
Prepaid Expenses and Other Current Assets [Line Items]
Amortization expense	$ 0

PROPERTY, EQUIPMENT AND SOFTW_2

PROPERTY, EQUIPMENT AND SOFTWARE, NET (Schedule of Property, Equipment and Software) (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Property, equipment and software, gross	$ 334,394	$ 332,106
Less accumulated depreciation	(236,390)	(230,388)
Property, equipment and software, net	98,004	101,718
Capitalized website and internal-use software development costs
Property, Plant and Equipment [Line Items]
Property, equipment and software, gross	179,720	171,831
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property, equipment and software, gross	84,364	88,687
Computer equipment
Property, Plant and Equipment [Line Items]
Property, equipment and software, gross	45,725	46,581
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property, equipment and software, gross	17,894	18,339
Telecommunication
Property, Plant and Equipment [Line Items]
Property, equipment and software, gross	4,974	4,951
Software
Property, Plant and Equipment [Line Items]
Property, equipment and software, gross	$ 1,717	$ 1,717

PROPERTY, EQUIPMENT, AND SOFT_2

PROPERTY, EQUIPMENT, AND SOFTWARE, NET (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 12.4	$ 11.7

GOODWILL AND INTANGIBLE ASSET_2

GOODWILL AND INTANGIBLE ASSETS (Schedule of Goodwill) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 109,261
Effect of currency translation	(2,347)
Ending balance	$ 106,914

GOODWILL AND INTANGIBLE ASSET_3

GOODWILL AND INTANGIBLE ASSETS (Schedule of Intangible Assets) (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 26,625	$ 26,625
Accumulated Amortization	(13,819)	(13,104)
Total amortization	12,806	13,521
Business relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	9,918	9,918
Accumulated Amortization	(4,057)	(3,814)
Total amortization	$ 5,861	$ 6,104
Weighted Average Remaining Life	7 years 7 months 6 days	7 years 9 months 18 days
Developed technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 7,709	$ 7,709
Accumulated Amortization	(6,542)	(6,238)
Total amortization	$ 1,167	$ 1,471
Weighted Average Remaining Life	1 year	1 year 2 months 12 days
Licensing agreements
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 6,129	$ 6,129
Accumulated Amortization	(376)	(215)
Total amortization	$ 5,753	$ 5,914
Weighted Average Remaining Life	8 years 10 months 24 days	9 years 2 months 12 days
Domains and data licenses
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 2,869	$ 2,869
Accumulated Amortization	(2,844)	(2,837)
Total amortization	$ 25	$ 32
Weighted Average Remaining Life	2 years 2 months 12 days	2 years 2 months 12 days

GOODWILL AND INTANGIBLE ASSET_4

GOODWILL AND INTANGIBLE ASSETS (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 0.7	$ 0.7

GOODWILL AND INTANGIBLE ASSET_5

GOODWILL AND INTANGIBLE ASSETS (Schedule of Future Amortization Expense) (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Year Ending December 31,
Remainder of 2021	$ 2,133
2022	1,676
2023	1,359
2024	1,353
2025	1,353
2026	1,353
Thereafter	3,579
Total amortization	$ 12,806	$ 13,521

LEASES (Lease Cost) (Details)

LEASES (Lease Cost) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Leases [Abstract]
Operating lease cost	$ 13,763	$ 13,811
Short-term lease cost (12 months or less)	137	360
Sublease income	(1,628)	(1,960)
Total lease cost, net	$ 12,272	$ 12,211

LEASES (Supplemental Cash Flow

LEASES (Supplemental Cash Flow Information) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ 9,590	$ 10,108

LEASES (Operating Lease Maturit

LEASES (Operating Lease Maturities) (Details) $ in Thousands	Mar. 31, 2021USD ($)
Leases [Abstract]
Remainder of 2021	$ 42,729
2022	48,665
2023	45,778
2024	43,011
2025	22,444
2026	7,488
Thereafter	17,031
Total minimum lease payments	227,146
Less imputed interest	(29,344)
Present value of lease liabilities	$ 197,802

LEASES (Additional Information)

LEASES (Additional Information) (Details)	Mar. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Weighted-average remaining lease term (years) — operating leases	4 years 10 months 24 days	5 years 1 month 6 days
Weighted-average discount rate — operating leases	5.90%	6.00%

LEASES (Narrative) (Details)

LEASES (Narrative) (Details) $ in Millions	Mar. 31, 2021USD ($)
Leases [Abstract]
Lease not yet commenced	$ 9.5

OTHER NON-CURRENT ASSETS (Detai

OTHER NON-CURRENT ASSETS (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Other Assets, Noncurrent Disclosure [Abstract]
Deferred tax assets	$ 33,654	$ 31,163
Deferred contract costs	14,490	14,522
Other non-current assets	3,508	3,163
Total other non-current assets	$ 51,652	$ 48,848

OTHER NON-CURRENT ASSETS (Chang

OTHER NON-CURRENT ASSETS (Changes in Deferred Contract Costs) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)
Changes In Capitalized Contract Costs [Roll Forward]
Balance, beginning of period	$ 14,522
Add: costs deferred on new contracts	3,349
Less: amortization recorded in sales and marketing expenses	(3,381)
Balance, end of period	$ 14,490

CONTRACT BALANCES (Schedule of

CONTRACT BALANCES (Schedule of Changes in Allowance for Doubtful Accounts) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance, beginning of period	$ 11,559	$ 7,686
Add: provision for doubtful accounts	3,289	15,933
Less: write-offs, net of recoveries	(5,168)	(9,031)
Balance, end of period	$ 9,680	$ 14,588

CONTRACT BALANCES (Changes in D

CONTRACT BALANCES (Changes in Deferred Revenue) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)
Change in Contract with Customer, Liability [Roll Forward]
Balance, beginning of period	$ 4,109
Less: recognition of deferred revenue from beginning balance	(2,293)
Add: net increase in current period contract liabilities	3,379
Balance, end of period	$ 5,195

ACCOUNTS PAYABLE AND ACCRUED _3

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Payables and Accruals [Abstract]
Accounts payable	$ 5,255	$ 8,853
Employee-related liabilities	68,514	57,684
Accrued sales and marketing expenses	6,079	2,137
Taxes payable	1,302	975
Accrued cost of revenue	6,507	8,269
Other accrued liabilities	9,635	9,842
Total accounts payable and accrued liabilities	$ 97,292	$ 87,760

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) - USD ($)	1 Months Ended
	May 31, 2020	Mar. 31, 2021
Revolving Credit Facility
Line of Credit Facility [Line Items]
Line of credit facility term	3 years
Line of credit facility, maximum borrowing capacity	$ 75,000,000
Remaining borrowing capacity		$ 53,500,000
Long-term line of credit		0
Letter of Credit
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity	$ 25,000,000
Credit Agreement Sublimit
Line of Credit Facility [Line Items]
Letters of credit outstanding		$ 21,500,000

STOCKHOLDERS' EQUITY (Schedule

STOCKHOLDERS' EQUITY (Schedule of Stock by Class) (Details) - $ / shares	Mar. 31, 2021	Dec. 31, 2020
Stockholders’ equity:
Common stock, shares authorized (in shares)	200,000,000	200,000,000
Common stock, shares issued (in shares)	75,153,089	75,371,368
Undesignated preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Undesignated preferred stock, shares issued (in shares)	0	0
Common stock, par value (in USD per share)	$ 0.000001	$ 0.000001

STOCKHOLDERS' EQUITY (Narrative

STOCKHOLDERS' EQUITY (Narrative) (Details)	3 Months Ended
	Mar. 31, 2021USD ($)schedule$ / sharesshares	Mar. 31, 2020USD ($)$ / sharesshares	Jan. 31, 2020USD ($)	Feb. 11, 2019USD ($)	Nov. 27, 2018USD ($)	Jul. 31, 2017USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Repurchase of common stock	$ 49,528,000	$ 0
Shares retired (in shares) | shares	1,412,188
Treasury shares (in shares) | shares	87,830
Fair value as of vest date of RSUs	$ 42,100,000	29,100,000
Stock-based compensation	39,245,000	31,750,000
Capitalized stock-based compensation expense	$ 2,800,000	2,300,000
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Target vesting range	0.00%
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Target vesting range	200.00%
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercisable period	10 years
Intrinsic value of options exercised	$ 11,100,000	$ 4,200,000
Weighted average grant date fair value (in USD per share) | $ / shares	$ 0	$ 11.13
Unrecognized compensation costs	$ 7,500,000
Unrecognized compensation costs, period for recognition	1 year 9 months 18 days
Number of vesting schedules | schedule	2
Employee Stock Option | End of year one
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting rate	25.00%
Employee Stock Option | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	4 years
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	4 years
Unrecognized compensation costs	$ 367,700,000
Unrecognized compensation costs, period for recognition	2 years 10 months 24 days
RSUs | End of year one
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting rate	25.00%
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	4 years
Performance goal stock price at which Performance Restricted Stock Unit awards would vest (usd per share) | $ / shares	$ 45.3125
ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Subscription rate of eligible compensation	15.00%
Purchase price, percentage of fair market value	85.00%
Number of shares purchased (in shares) | shares	0	0
Stock-based compensation	$ 800,000	$ 800,000
July 2017 Share Repurchase Program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock repurchase program, authorized amount	950,000,000		$ 250,000,000	$ 250,000,000	$ 250,000,000	$ 200,000,000
Remaining authorized repurchase amount	$ 195,100,000
Stock repurchased and retired (in shares) | shares	1,401,000
Repurchase of common stock	$ 49,500,000
Stock repurchased (in shares) | shares		0

STOCKHOLDERS' EQUITY (Schedul_2

STOCKHOLDERS' EQUITY (Schedule of Stock Option Activity) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Number of Shares
Outstanding, beginning balance (in shares)	4,622,828
Exercised (in shares)	(525,194)
Canceled (in shares)	(9,046)
Outstanding, ending balance (in shares)	4,088,588	4,622,828
Options vested and exercisable (in shares)	3,608,168
Weighted-Average Exercise Price
Outstanding, beginning balance (in USD per share)	$ 29.89
Exercised (in USD per share)	11.52
Canceled (in USD per share)	52.14
Outstanding, ending balance (in USD per share)	32.20	$ 29.89
Options vested and exercisable (in USD per share)	$ 31.63
Weighted- Average Remaining Contractual Term
Outstanding, Weighted-Average Remaining Contractual Term (in years)	4 years 10 months 24 days	4 years 8 months 12 days
Options vested and exercisable, Weighted-Average Remaining Contractual Term (in years)	4 years 7 months 6 days
Aggregate Intrinsic Value
Outstanding, Aggregate Intrinsic Value	$ 35,920	$ 30,451
Options vested and exercisable, Aggregate Intrinsic Value	$ 34,224

STOCKHOLDERS' EQUITY (Schedul_3

STOCKHOLDERS' EQUITY (Schedule of Restricted Stock Units Activity) (Details) - Restricted Stock Units	3 Months Ended
	Mar. 31, 2021$ / sharesshares
Number of Shares
Unvested, beginning balance (in shares)	9,757,787
Granted (in shares)	4,267,758
Vested (in shares)	(1,121,213)
Canceled (in shares)	(705,463)
Unvested, ending balance (in shares)	12,198,869
Weighted-Average Grant Date Fair Value
Unvested, beginning balance (in USD per share) | $ / shares	$ 29.22
Granted (in USD per share) | $ / shares	35.82
Released (in USD per share) | $ / shares	32.73
Canceled (in USD per share) | $ / shares	31.68
Unvested, ending balance (in USD per share) | $ / shares	$ 31.06
Shares withheld for taxes (in shares)	451,223

STOCKHOLDERS' EQUITY (Schedul_4

STOCKHOLDERS' EQUITY (Schedule of Stock-Based Compensation Expense) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation recorded to loss before income taxes	$ 39,245	$ 31,750
Benefit from income taxes	(10,065)	(12,557)
Total stock-based compensation recorded to net loss	29,180	19,193
Cost of revenue
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation recorded to loss before income taxes	1,108	1,043
Sales and marketing
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation recorded to loss before income taxes	8,397	7,696
Product development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation recorded to loss before income taxes	20,753	17,755
General and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation recorded to loss before income taxes	$ 8,987	$ 5,256

OTHER INCOME, NET (Details)

OTHER INCOME, NET (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Other Income and Expenses [Abstract]
Interest (expense) income, net	$ (18)	$ 2,106
Transaction gain (loss) on foreign exchange	257	(68)
Other non-operating income, net	466	345
Other income, net	$ 705	$ 2,383

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Income Tax Disclosure [Abstract]
Income tax provision (benefit)	$ (2,142)	$ (9,364)
Income tax provision due to U.S. federal and state income taxes and foreign income taxes	1,800	9,600
Net discrete tax benefit	3,900	$ 200
Unrecognized tax benefits	50,500
Unrecognized tax benefits that would not impact the effective tax rate	22,000
Earnings of foreign subsidiaries to be reinvested indefinitely	6,900
Decrease in unrecognized tax benefits is reasonably possible	$ 6,300

NET (LOSS) INCOME PER SHARE (Sc

NET (LOSS) INCOME PER SHARE (Schedule of Basic and Diluted Net Income Per Share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Basic net loss per share:
Net loss	$ (5,796)	$ (15,503)
Weighted-average common shares outstanding (in shares)	75,245	71,548
Basic net loss per share attributable to common stockholders (in USD per share)	$ (0.08)	$ (0.22)
Diluted net loss per share:
Net loss	$ (5,796)	$ (15,503)
Weighted-average common shares outstanding (in shares)	75,245	71,548
Diluted net loss per share attributable to common stockholders (in USD per share)	$ (0.08)	$ (0.22)

NET (LOSS) INCOME PER SHARE (_2

NET (LOSS) INCOME PER SHARE (Schedule of Anti-Dilutive Employee Stock Awards) (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive awards (in shares)	4,089	6,019
RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive awards (in shares)	12,199	9,027
ESPP
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive awards (in shares)	213	243

INFORMATION ABOUT REVENUE AND_3

INFORMATION ABOUT REVENUE AND GEOGRAPHIC AREAS (Net Revenue) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Revenues from External Customers and Long-Lived Assets [Line Items]
Total net revenue	$ 232,096	$ 249,901
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Total net revenue	229,995	246,527
All other countries
Revenues from External Customers and Long-Lived Assets [Line Items]
Total net revenue	2,101	3,374
Advertising
Revenues from External Customers and Long-Lived Assets [Line Items]
Total net revenue	221,987	240,093
Services
Revenues from External Customers and Long-Lived Assets [Line Items]
Total net revenue	140,687	133,082
Restaurants, Retail & Other
Revenues from External Customers and Long-Lived Assets [Line Items]
Total net revenue	81,300	107,011
Transactions
Revenues from External Customers and Long-Lived Assets [Line Items]
Total net revenue	3,804	2,639
Other revenue
Revenues from External Customers and Long-Lived Assets [Line Items]
Total net revenue	$ 6,305	$ 7,169

INFORMATION ABOUT REVENUE AND_4

INFORMATION ABOUT REVENUE AND GEOGRAPHIC AREAS - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Income Statement [Abstract]
Customer incentives	$ 2.2	$ 4.6

INFORMATION ABOUT REVENUE AND_5

INFORMATION ABOUT REVENUE AND GEOGRAPHIC AREAS (Long-Lived Assets) (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	$ 98,004	$ 101,718
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	93,965	97,548
All other countries
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	$ 4,039	$ 4,170

RESTRUCTURING (Details)

RESTRUCTURING (Details) - employee	1 Months Ended
	Jul. 31, 2020	Apr. 30, 2020
Restructuring and Related Activities [Abstract]
Number of positions eliminated	60	1,000
Number of positions furloughed		1,100

Uncategorized Items - yelp-2021

Label	Element	Value
Accounting Standards Update [Extensible List]	us-gaap_AccountingStandardsUpdateExtensibleList	us-gaap:AccountingStandardsUpdate201613Member