Cornerstone OnDemand (CSOD) 10-Q 6 Aug 21 2021 Q2 Quarterly report Financial data

COVER PAGE

COVER PAGE - shares	6 Months Ended
	Jun. 30, 2021	Jul. 30, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2021
Document Transition Report	false
Entity File Number	001-35098
Entity Registrant Name	Cornerstone OnDemand, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	13-4068197
Entity Address, Address Line One	1601 Cloverfield Blvd.
Entity Address, Address Line Two	Suite 620 South
Entity Address, City or Town	Santa Monica
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	90404
City Area Code	(310)
Local Phone Number	752-0200
Title of 12(b) Security	Common Stock, par value $0.0001 per share
Trading Symbol	CSOD
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		66,754,079
Amendment Flag	false
Entity Central Index Key	0001401680
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-31

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 147,025	$ 153,151
Accounts receivable, net	140,751	221,461
Deferred commissions, current portion	48,291	45,786
Prepaid expenses and other current assets	34,194	30,615
Total current assets	370,261	451,013
Capitalized software development costs, net	55,060	50,812
Property and equipment, net	25,520	32,271
Operating right-of-use assets	65,256	74,419
Deferred commissions, net of current portion	88,956	89,698
Long-term investments	1,867	8,565
Intangible assets, net	388,185	436,290
Goodwill	962,280	961,322
Deferred tax assets	19,877	19,169
Other assets	11,770	11,010
Total assets	1,989,032	2,134,569
Current liabilities:
Accounts payable, accrued expenses, and other current liabilities	118,425	129,908
Deferred revenue, current portion	404,350	446,886
Operating lease liabilities, current portion	14,417	10,830
Debt, current portion	8,297	10,047
Total current liabilities	545,489	597,671
Debt, net of current portion	1,063,048	1,176,239
Deferred revenue, net of current portion	2,066	5,184
Operating lease liabilities, net of current portion	57,081	65,911
Deferred tax liabilities	7,378	11,936
Other liabilities, non-current	5,403	8,754
Total liabilities	1,680,465	1,865,695
Commitments and contingencies (Note 13)
Stockholders’ equity:
Common stock, $0.0001 par value	7	6
Additional paid-in capital	887,692	835,069
Accumulated deficit	(577,485)	(564,662)
Accumulated other comprehensive loss	(1,647)	(1,539)
Total stockholders’ equity	308,567	268,874
Total liabilities and stockholders’ equity	$ 1,989,032	$ 2,134,569

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Common stock, par value (USD per share)	$ 0.0001	$ 0.0001

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Income Statement [Abstract]
Revenue	$ 214,343	$ 184,358	$ 423,616	$ 334,494
Cost of revenue	60,775	58,000	121,311	99,924
Gross profit	153,568	126,358	302,305	234,570
Operating expenses:
Sales and marketing	67,782	64,942	137,517	120,272
Research and development	27,227	28,338	57,997	52,423
General and administrative	31,536	25,620	63,098	50,345
Acquisition-related and integration	1,341	20,093	2,871	26,904
Restructuring	4,764	9,733	10,853	9,733
Total operating expenses	132,650	148,726	272,336	259,677
Income (loss) from operations	20,918	(22,368)	29,969	(25,107)
Other income (expense):
Interest expense	(16,302)	(18,219)	(35,072)	(23,720)
Loss on extinguishment of debt and related expenses	(3,108)	0	(3,108)	0
Other, net	388	(514)	(4,516)	(5,878)
Other expense, net	(19,022)	(18,733)	(42,696)	(29,598)
Income (loss) before income tax (provision) benefit	1,896	(41,101)	(12,727)	(54,705)
Income tax (provision) benefit	(2,267)	29,114	(96)	28,943
Net loss	$ (371)	$ (11,987)	$ (12,823)	$ (25,762)
Net loss per share, basic (USD per share)	$ (0.01)	$ (0.19)	$ (0.19)	$ (0.41)
Net loss per share, diluted (USD per share)	$ (0.01)	$ (0.19)	$ (0.19)	$ (0.41)
Weighted-average common shares outstanding, basic (in shares)	66,330	63,593	65,866	62,612
Weighted-average common shares outstanding, diluted (in shares)	66,330	63,593	65,866	62,612

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Statement of Comprehensive Income [Abstract]
Net loss	$ (371)	$ (11,987)	$ (12,823)	$ (25,762)
Other comprehensive (loss) income, net of tax:
Foreign currency translation adjustment	(172)	277	(2,928)	3,610
Unrealized (loss) gain on interest rate swap contracts	(239)	0	2,820	0
Net change in unrealized losses on investments	0	0	0	(223)
Other comprehensive (loss) income, net of tax	(411)	277	(108)	3,387
Total comprehensive loss	$ (782)	$ (11,710)	$ (12,931)	$ (22,375)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Accumulated Other Comprehensive Income (Loss)
Beginning balance (in shares) at Dec. 31, 2019		61,038,000
Beginning balance at Dec. 31, 2019	$ 158,482	$ 6	$ 682,717	$ (524,680)	$ 439
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon the exercise of options (in shares)		704,000
Issuance of common stock upon the exercise of options	8,188		8,188
Vesting of restricted stock units (in shares)		1,078,000
Vesting of restricted stock units	$ 0
Shares issued under employee stock purchase plan (in shares)	130,177	130,000
Shares issued under employee stock purchase plan	$ 4,370		4,370
Stock-based compensation	41,388		41,388
Common stock issued in acquisition (in shares)		1,110,000
Common stock issued in acquisition	32,889		32,889
Change in fair value of conversion feature of modified Convertible Notes	18,598		18,598
Net loss	(25,762)			(25,762)
Other comprehensive loss, net of tax	3,387				3,387
Ending balance (in shares) at Jun. 30, 2020		64,060,000
Ending balance at Jun. 30, 2020	241,540	$ 6	788,150	(550,442)	3,826
Beginning balance (in shares) at Mar. 31, 2020		62,512,000
Beginning balance at Mar. 31, 2020	181,258	$ 6	716,158	(538,455)	3,549
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon the exercise of options (in shares)		5,000
Issuance of common stock upon the exercise of options	107		107
Vesting of restricted stock units (in shares)		303,000
Vesting of restricted stock units	0
Shares issued under employee stock purchase plan (in shares)		130,000
Shares issued under employee stock purchase plan	4,370		4,370
Stock-based compensation	16,028		16,028
Common stock issued in acquisition (in shares)		1,110,000
Common stock issued in acquisition	32,889		32,889
Change in fair value of conversion feature of modified Convertible Notes	18,598		18,598
Net loss	(11,987)			(11,987)
Other comprehensive loss, net of tax	277				277
Ending balance (in shares) at Jun. 30, 2020		64,060,000
Ending balance at Jun. 30, 2020	241,540	$ 6	788,150	(550,442)	3,826
Beginning balance (in shares) at Dec. 31, 2020		64,926,000
Beginning balance at Dec. 31, 2020	$ 268,874	$ 6	835,069	(564,662)	(1,539)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon the exercise of options (in shares)	249,000	249,000
Issuance of common stock upon the exercise of options	$ 7,535	$ 1	7,534
Vesting of restricted stock units (in shares)		1,338,000
Vesting of restricted stock units	$ 0
Shares issued under employee stock purchase plan (in shares)	128,632	129,000
Shares issued under employee stock purchase plan	$ 4,657		4,657
Stock-based compensation	40,432		40,432
Net loss	(12,823)			(12,823)
Other comprehensive loss, net of tax	(108)				(108)
Ending balance (in shares) at Jun. 30, 2021		66,642,000
Ending balance at Jun. 30, 2021	308,567	$ 7	887,692	(577,485)	(1,647)
Beginning balance (in shares) at Mar. 31, 2021		66,055,000
Beginning balance at Mar. 31, 2021	282,637	$ 7	860,980	(577,114)	(1,236)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon the exercise of options (in shares)		68,000
Issuance of common stock upon the exercise of options	2,383		2,383
Vesting of restricted stock units (in shares)		390,000
Vesting of restricted stock units	0
Shares issued under employee stock purchase plan (in shares)		129,000
Shares issued under employee stock purchase plan	4,657		4,657
Stock-based compensation	19,672		19,672
Net loss	(371)			(371)
Other comprehensive loss, net of tax	(411)				(411)
Ending balance (in shares) at Jun. 30, 2021		66,642,000
Ending balance at Jun. 30, 2021	$ 308,567	$ 7	$ 887,692	$ (577,485)	$ (1,647)

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Cash flows from operating activities
Net loss	$ (12,823)	$ (25,762)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	71,109	43,159
Accretion of debt discount and amortization of debt issuance costs	8,150	4,687
Net foreign currency and other loss	4,161	6,783
Stock-based compensation expense	38,008	37,273
Deferred income taxes	(6,004)	(30,636)
Bad debt (recoveries) expense	(586)	1,248
Loss on extinguishment of debt and related expenses	1,999	0
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable	78,728	21,334
Deferred commissions	(1,118)	(3,204)
Prepaid expenses and other assets	(4,714)	9,320
Accounts payable, accrued expenses, and other current liabilities	(11,628)	9,497
Deferred revenue	(45,486)	(42,911)
Other liabilities, non-current	3,631	(2,026)
Net cash provided by operating activities	123,427	28,762
Cash flows from investing activities
Purchases of marketable investments	0	(20,419)
Maturities and sales of investments	0	272,173
Capital expenditures	(2,637)	(2,275)
Capitalized software costs	(15,161)	(13,524)
Cash paid for acquisitions, net of cash acquired	0	(1,298,172)
Net cash used in investing activities	(17,798)	(1,062,217)
Cash flows from financing activities
Repayment of debt	(124,586)	0
Proceeds from term loan debt, net of discount	0	979,582
Payments of debt issuance and modification costs	(146)	(30,268)
Proceeds from employee stock plans	12,107	12,627
Net cash (used in) provided by financing activities	(112,625)	961,941
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	961	(2,788)
Net decrease in cash, cash equivalents, and restricted cash	(6,035)	(74,302)
Cash, cash equivalents, and restricted cash at beginning of period	155,854	215,907
Cash, cash equivalents, and restricted cash at end of period	149,819	141,605
Supplemental cash flow data
Cash paid for interest	27,077	8,684
Cash paid for income taxes	3,888	2,543
Non-cash investing and financing activities:
Capitalized assets financed by accounts payable and accrued expenses	318	275
Capitalized stock-based compensation	2,424	4,115
Issuance of common stock for partial consideration for acquisition	0	32,889
Increase in debt discount as a result of modification of Convertible Notes	0	18,598
Reconciliation of cash, cash equivalents, and restricted cash
Cash and cash equivalents	147,025	136,492
Restricted cash included in prepaid expenses and other current assets	396	3,837
Restricted cash included in other assets	2,398	1,276
Total cash, cash equivalents, and restricted cash	$ 149,819	$ 141,605

ORGANIZATION AND SUMMARY OF SIG

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Company Overview Cornerstone OnDemand, Inc. (“Cornerstone” or the “Company”) is a leading global provider of people development solutions, delivered as software-as-a-service (“SaaS”). The Company helps organizations around the globe recruit, train, and manage their employees. The Company’s solutions combine the world’s leading unified talent management solutions with state-of-the-art analytics and HR administration solutions to enable organizations to manage the entire employee lifecycle. Its focus on continuous learning and development helps organizations empower employees to realize their potential and drive success. On August 5, 2021, the Company entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Sunshine Software Holdings, Inc., a Delaware corporation (“Sunshine Software”), and Sunshine Software Merger Sub, Inc., a Delaware corporation and an indirect wholly owned subsidiary of Sunshine Software (“Merger Sub”), providing for the merger of Merger Sub with and into the Company (the “Merger”), with the Company surviving the Merger as an indirect wholly owned subsidiary of Sunshine Software. Sunshine Software and Merger Sub were formed by affiliates of Clearlake Capital Partners V, L.P., Clearlake Capital Partners V (Offshore), L.P., Clearlake Capital Partners V (USTE), L.P., Clearlake Capital Partners VI, L.P., Clearlake Capital Partners VI (Offshore), L.P., Clearlake Capital Partners VI (USTE), L.P., and Clearlake Flagship Plus Partners (Master), L.P. (collectively, “Clearlake Capital”). The Company will call a special meeting of its stockholders to present the Merger Agreement to its stockholders for adoption. Under the terms of the Merger Agreement, Sunshine Software will acquire all outstanding shares of the Company’s common stock in exchange for consideration of $57.50 per share in cash.  The Merger Agreement contains representations and warranties customary for transactions of this type. The closing of the Merger is subject to approval of the Company’s stockholders and the satisfaction or waiver of a number of closing conditions. The Merger Agreement provides Sunshine Software and the Company with certain termination rights and, under certain circumstances, may require that Sunshine Software or the Company pay a termination fee. On April 22, 2020, the Company acquired Saba Software, Inc. (“Saba”), a provider of talent experience solutions. The Company works with customers across all geographies and markets. Its Learning, Content, Performance, Careers, Recruiting, and HR solutions help with sourcing, recruiting, and onboarding new hires; managing training and development requirements; nurturing knowledge sharing and collaboration among employees; goal setting, reviews, competency management, and continuous feedback; linking compensation to performance; identifying development plans based on performance gaps; streamlining employee data management, self-service, and compliance reporting; and then utilizing state-of-the-art analytics capabilities to make smarter, more-informed decisions using data from across the solution for talent mobility, engagement, and development so that HR and leadership can focus on strategic initiatives to help their organizations succeed. The Company’s management has determined that the Company operates in one segment as it only reports financial information on an aggregated and consolidated basis to the Company’s chief executive officer, who is the Company’s chief operating decision maker. Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared on the same basis as the Company’s annual consolidated financial statements. These unaudited condensed financial statements are presented in accordance with (i) accounting standards generally accepted in the United States of America (“GAAP”) for interim financial information and (ii) the instructions to Form 10-Q and Article 10 of Regulation S-X. Certain information and note disclosures normally included in the annual consolidated financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. In the opinion of management, the financial statements include all adjustments (consisting of normal recurring adjustments) necessary for the fair presentation of the interim periods presented. Results of operations for the three and six months ended June 30, 2021 are not necessarily indicative of the results that may be expected for the year ending December 31, 2021, for any other interim period, or for any other future year. Certain prior period balances have been reclassified to conform to the current period presentation. Recently Adopted Accounting Pronouncements In December 2019, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2019-12, Simplifying the Accounting for Income Taxes (“ASU 2019-12”), which enhances and simplifies various aspects of the income tax accounting guidance. The guidance was effective for the Company in the first quarter of 2021. The adoption did not have a material impact on the Company’s consolidated financial statements. Summary of Significant Accounting Policies There have been no material changes to the Company’s significant accounting policies described in the Annual Report on Form 10-K for the year ended December 31, 2020, filed with the Securities and Exchange Commission (“SEC”), on February 22, 2021.

BUSINESS COMBINATIONS

BUSINESS COMBINATIONS	6 Months Ended
	Jun. 30, 2021
Business Combination and Asset Acquisition [Abstract]
BUSINESS COMBINATIONS	BUSINESS COMBINATIONS Saba On April 22, 2020, the Company acquired 100% of the equity interests of the direct and indirect subsidiaries of Vector Talent Holdings, L.P., including Saba Software, Inc. (such subsidiaries, collectively, “Saba”), to expand its cloud-based learning, talent management, and talent experience software offerings. The Company acquired Saba for an aggregate purchase price of $1.310 billion, consisting of $1.277 billion in cash (net of cash acquired) and 1,110,352 shares of the Company’s common stock with an aggregate value of $32.9 million. The acquisition was financed with a combination of cash on hand and proceeds from new borrowings (refer to Note 3 – Debt for additional information). Under the terms of the purchase agreement, the final consideration was subject to certain adjustments based on a determination of closing net working capital and net indebtedness (as defined in the purchase agreement). The purchase consideration was allocated to the tangible and intangible assets acquired and liabilities assumed based on their estimated fair values as of the acquisition date with the excess recorded as goodwill, none of which is expected to be deductible for tax purposes. The goodwill is primarily attributable to the acquired workforce and synergies expected to arise after the acquisition, including future technologies and customers of the combined business. The results of operations and fair values of the assets acquired and liabilities assumed have been included in the accompanying condensed consolidated financial statements as of the date of acquisition. The following table summarizes the fair value of assets acquired and liabilities assumed as a result of the acquisition of Saba, as adjusted (in thousands): Preliminary Fair Value at Acquisition Date Measurement Period Adjustments 1 Adjusted Fair Value at Acquisition Date Cash and cash equivalents $ 49,471 $ — $ 49,471 Accounts receivable 58,764 — 58,764 Prepaid expenses and other current assets 13,020 — 13,020 Property and equipment 9,446 — 9,446 Operating right-of-use assets 16,700 — 16,700 Intangible assets 481,000 — 481,000 Goodwill 905,498 (2,977) 902,521 Other assets 2,698 1,122 3,820 Total assets 1,536,597 (1,855) 1,534,742 Accounts payable and accrued expenses 28,978 — 28,978 Deferred revenue 69,940 1,092 71,032 Operating lease liabilities 16,532 — 16,532 Deferred tax liabilities, net 46,472 (283) 46,189 Other liabilities 12,782 — 12,782 Total liabilities 174,704 809 175,513 Total purchase consideration $ 1,361,893 $ (2,664) $ 1,359,229 1 The Company received approximately $2.7 million from escrow and made other revisions to certain acquired balances during the measurement period which closed one year from the acquisition date. Identifiable Intangible Assets The following table provides the valuation of the Saba intangible assets, along with their estimated useful lives: Estimated Fair Value Estimated Useful Life Customer relationships $ 294,800 11 Customer contracts 58,500 2 Developed technology 120,500 3 – 5 Trade names, trademarks, and domain names 7,200 3 Total $ 481,000 The identifiable intangible assets are amortized on a straight-line basis over their respective estimated useful lives to sales and marketing for customer-related intangible assets, cost of revenue for developed technology intangible assets, and general and administrative expense for all other intangible assets. Management applied significant judgment in determining the fair value of intangible assets, which involved the use of estimates and assumptions with respect to estimated future subscription revenue and related profit margins, costs anticipated to fulfill remaining acquired performance obligations and related profit margins, customer retention rates, technology migration curves, royalty rates, discount rates, and economic lives assigned to acquired intangible assets. Unaudited Pro Forma Financial Information The following table presents the unaudited pro forma results for the three and six months ended June 30, 2020. The unaudited pro forma financial information combines the results of operations of Cornerstone OnDemand and Saba as though the companies had been combined as of January 1, 2019. The pro forma information is presented for informational purposes only and is not indicative of the results of operations that would have been achieved if the acquisition had taken place at such time. The unaudited pro forma revenue for the periods presented below includes the effect of purchase accounting adjustments related to the valuation of deferred revenue assumed in the acquisition (“the deferred revenue write-down”). The deferred revenue write-down had an $18.6 million impact on pro forma revenue during the three and six months ended June 30, 2020. The unaudited pro forma results presented below include adjustments for amortization of identifiable intangible assets, interest expense related to debt financing, and related tax effects (in thousands): Three Months Ended Six Months Ended June 30, June 30, 2020 2020 Revenue $ 201,949 $ 420,913 Net loss (35,789) (73,035) Clustree On January 24, 2020, the Company purchased all of the outstanding shares of Clustree SAS (“Clustree”), a developer of a skills engine and skills ontology. The Company paid cash consideration of approximately $18.6 million. The purchase consideration was allocated to the tangible and intangible assets acquired and liabilities assumed based on their estimated fair values as of the acquisition date with the excess recorded as goodwill, none of which is expected to be deductible for tax purposes. The goodwill generated from this transaction is primarily attributable to the ability to enhance the Company’s product portfolio. The Company’s allocation of the total purchase consideration as of January 24, 2020 is summarized below (in thousands): Fair Value at Tangible assets $ 1,275 Intangible assets – developed technology 9,800 Intangible assets – customer relationships 800 Goodwill 8,875 Deferred tax liabilities (1,020) Accounts payable and accrued expenses (755) Deferred revenue (336) Net assets acquired $ 18,639 The intangible assets related to developed technology are amortized on a straight-line basis over three years to cost of revenue. The intangible assets related to customer relationships are amortized on a straight-line basis over two years to sales and marketing. Pro forma results of operations related to the acquisition of Clustree have not been presented as the impact of the acquisition is not material to the Company’s financial results. Acquisition-Related and Integration Acquisition-related and integration expenses for both Saba and Clustree primarily consist of external fees for advisory, legal, and other professional services. These expenses totaled approximately $1.3 million and $20.1 million for the three months ended June 30, 2021 and 2020 and $2.9 million and $26.9 million for the six months ended June 30, 2021 and 2020, respectively. These were expensed as incurred and recorded in acquisition-related and integration expenses in the accompanying condensed consolidated statements of operations.

DEBT

DEBT	6 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
DEBT	DEBT Term Loan B and Revolving Credit Facility On April 22, 2020, the Company entered into a credit agreement (the “Credit Agreement”) with Morgan Stanley Senior Funding, Inc., as administrative agent and collateral agent (“Agent”), which provided for a seven-year senior secured term loan B facility (the “Term Loan Facility”) in an aggregate principal amount of $1.0047 billion for a purchase price equal to 97.5% of the aggregate principal amount after original issue discount. Equity interests in certain subsidiaries of the Company and domestic assets of the Company, subject to customary exceptions, are pledged as collateral. Principal payments are due quarterly at a rate of 0.25% of the original principal amount with the remaining outstanding principal balance due in April 2027. In addition, the Company entered into a five-year senior secured revolving credit facility (the “Revolving Credit Facility”) in an aggregate principal amount of up to $150.0 million, of which $150.0 million and $102.5 million remained available at June 30, 2021 and December 31, 2020, respectively. The available borrowings under the Revolving Credit Facility are limited by indebtedness covenants with the holders of the Convertible Notes (as defined below) and letters of credit issued under the Credit Agreement. The Revolving Credit Facility includes a letter of credit sub-facility of up to $30.0 million. Borrowings under the Credit Agreement bear interest at a rate per annum equal to LIBOR for an interest period of one month, plus an applicable margin of 4.25%, with a 0.00% LIBOR floor. On April 23, 2021, the Company entered into an amendment to the Credit Agreement to effectuate a repricing of the Term Loan Facility resulting in a rate per annum equal to LIBOR plus an applicable margin of 3.25%, with a 0.00% LIBOR floor (the “Repricing”). Principal payments are due quarterly at a rate of 0.25% of the principal amount upon Repricing with the remaining outstanding principal balance due in April 2027. As a result of the Repricing, a portion of the Term Loan Facility was accounted for as an extinguishment of the existing debt and issuance of new debt. During the three months ended June 30, 2021, the Company recognized a loss on extinguishment of debt of $2.0 million and incurred third-party expenses of $1.1 million, both of which were recorded within loss on extinguishment of debt and related expenses in the accompanying condensed consolidated statements of operations. The Company uses interest rate swap contracts designated as cash flow hedges to manage its exposure to fluctuations in interest rates. These contracts hedge the variable LIBOR component of the interest rate on the Term Loan Facility and effectively fix the interest rate for the hedged portion of the principal value to 0.28% plus the applicable margin over a stated period of time (refer to Note 9 – Fair Value of Financial Instruments for additional information). Interest is payable on a monthly or quarterly basis at the Company’s option. The net carrying amounts of the components of the Term Loan Facility consist of the following (in thousands): June 30, 2021 December 31, 2020 Principal amount $ 827,602 $ 952,188 Unaccreted debt discount (20,298) (23,082) Unamortized debt issuance costs (18,910) (21,392) Net carrying value $ 788,394 $ 907,714 The effective interest rate is 4.2% for the Term Loan Facility as of June 30, 2021. The following table presents the interest expense recognized related to the Term Loan Facility (in thousands): Three Months Ended Six Months Ended June 30, June 30, 2021 2020 2021 2020 Contractual interest expense $ 7,593 $ 10,298 $ 17,433 $ 10,298 Accretion of debt discount 792 699 1,746 699 Amortization of debt issuance costs 763 663 1,668 663 Total $ 9,148 $ 11,660 $ 20,847 $ 11,660 Undrawn amounts under the Revolving Credit Facility accrue a commitment fee at an initial per annum rate of 0.50% subject to certain adjustments, beginning July 1, 2020. In addition to the unused commitment fee, the Company is required to pay certain letter of credit, administrative, and other related fees. The Company did not draw any amounts under the Revolving Credit Facility as of June 30, 2021 and December 31, 2020. The Term Loan Facility, Revolving Credit Facility, and Convertible Notes (as discussed below) contain customary covenants that, among other things, restrict the Company’s ability to incur additional indebtedness, grant liens, make certain investments (including acquisitions), dispose of certain assets, and make certain payments (including share repurchases and dividends). As of June 30, 2021, the Company was in compliance with all financial covenants. Convertible Notes In 2017, the Company issued $300.0 million principal amount of 5.75% senior convertible notes (the “Convertible Notes”) for a purchase price equal to 98% of the principal amount to certain entities affiliated with Silver Lake (a principal owner of the Company) and LinkedIn. The Company received net proceeds of $284.8 million, net of a discount of $6.0 million and issuance costs of $9.2 million. The debt discount is being accreted to interest expense over the term of the Convertible Notes using the effective interest method. The issuance costs were deferred and are being amortized to interest expense over the term of the Convertible Notes using the effective interest method. Interest is payable semi-annually in arrears on January 1 and July 1, commencing January 1, 2018. The Convertible Notes are convertible at an initial conversion rate of 23.8095 shares of the Company’s common stock per $1,000 principal amount of the Convertible Notes, which represents an initial conversion price of $42.00 per share, subject to adjustment for anti-dilutive issuances, voluntary increases in the conversion rate, and make-whole adjustments upon a fundamental change. A fundamental change includes a change in control, delisting of the Company’s common stock, or a liquidation of the Company. Upon conversion, the Company will deliver the applicable number of the Company’s common stock and cash in lieu of any fractional shares. Holders of the Convertible Notes may convert their Convertible Notes at any time prior to the close of business on the scheduled trading day immediately preceding the maturity date. The holders of the Convertible Notes may require the Company to repurchase all or a portion of their Convertible Notes at a cash repurchase price equal to 100% of the principal amount of the notes being repurchased, plus the remaining scheduled interest through and including the maturity date, upon a fundamental change or event of default, including non-payment of interest or principal and other obligations. On April 20, 2020, the Company amended the indenture to the Convertible Notes with US Bank National Association, as trustee (the “Supplemental Indenture”). Upon the completion of the acquisition of Saba on April 22, 2020, the Supplemental Indenture became effective, which permitted the Company to incur additional indebtedness and extended the maturity date of the Convertible Notes from July 1, 2021 to March 17, 2023. In connection with this amendment, the Company paid approximately $3.4 million in consent and other fees to the holders of the Convertible Notes which were capitalized as debt issuance costs. As part of the amendment, the Company applied modification accounting as the criteria requiring extinguishment accounting were not met. As a result of the modification accounting, the fair value of the conversion feature increased by $18.6 million. This increase in fair value was recorded as a debt discount with a corresponding increase to additional paid-in capital. The Company will accrete the debt discount related to the conversion feature and amortize the debt issuance costs related to consent and other fees, including the previously unaccreted and unamortized amounts, to interest expense over the remaining term of the Convertible Notes. The net carrying amounts of the components of the Convertible Notes consist of the following (in thousands): June 30, 2021 December 31, 2020 Principal amount $ 300,000 $ 300,000 Unaccreted debt discount (12,872) (16,178) Unamortized debt issuance costs (4,177) (5,250) Net carrying value $ 282,951 $ 278,572 The effective interest rate is 9.2% for the Convertible Notes as of June 30, 2021. The following table presents the interest expense recognized related to the Convertible Notes (in thousands): Three Months Ended Six Months Ended June 30, June 30, 2021 2020 2021 2020 Contractual interest expense $ 4,313 $ 4,313 $ 8,626 $ 8,626 Accretion of debt discount 1,699 1,499 3,306 1,930 Amortization of debt issuance costs 551 593 1,073 1,256 Total $ 6,563 $ 6,405 $ 13,005 $ 11,812

NET LOSS PER SHARE

NET LOSS PER SHARE	6 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
NET LOSS PER SHARE	NET LOSS PER SHARE The following table presents the Company’s basic and diluted net loss per share (in thousands, except per share amounts): Three Months Ended Six Months Ended June 30, June 30, 2021 2020 2021 2020 Net loss $ (371) $ (11,987) $ (12,823) $ (25,762) Net loss per share, basic and diluted $ (0.01) $ (0.19) $ (0.19) $ (0.41) Weighted-average shares of common stock outstanding, basic and diluted 66,330 63,593 65,866 62,612 The potential shares of common stock that would have a dilutive impact are computed using the treasury stock method or the if-converted method, as applicable. The following potential shares were excluded from the computation of diluted net loss per share because their effect would have been anti-dilutive (in thousands): June 30, 2021 2020 Options to purchase common stock, restricted stock units, and performance-based restricted stock units 7,418 8,947 Shares issuable pursuant to employee stock purchase plan 109 152 Convertible notes 7,143 7,143 Total shares excluded from net loss per share 14,670 16,242

CASH AND INVESTMENTS

CASH AND INVESTMENTS	6 Months Ended
	Jun. 30, 2021
Investments, Debt and Equity Securities [Abstract]
CASH AND INVESTMENTS	CASH AND INVESTMENTS The Company’s investments in marketable and non-marketable securities are made pursuant to its investment policy, which has established guidelines relative to the diversification of the Company’s investments and their maturities, with the principal objective of capital preservation and maintaining liquidity that is sufficient to meet cash flow requirements. As of June 30, 2021 and December 31, 2020, the Company did not have any marketable investments. During the first quarter of 2021, the Company recorded a $6.9 million write-down related to a non-marketable investment accounted for using the equity method because an other than temporary impairment was identified. During the six months ended June 30, 2020, the Company recognized a $1.9 million loss on the sale of available-for-sale securities. The Company’s non-marketable investments are composed of the following (in thousands): June 30, 2021 December 31, 2020 Accounted for at cost, adjusted for observable price changes $ 1,867 $ 1,750 Accounted for using the equity method — 6,815 Total non-marketable investments $ 1,867 $ 8,565

INTANGIBLE ASSETS AND GOODWILL

INTANGIBLE ASSETS AND GOODWILL	6 Months Ended
	Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS AND GOODWILL	INTANGIBLE ASSETS AND GOODWILL Finite-lived Intangibles The Company has finite-lived intangible assets which are amortized over their estimated useful lives on a straight-line basis, which approximates the economic pattern of benefit. The following table presents the gross carrying amount and accumulated amortization of finite-lived intangible assets (dollars in thousands): June 30, 2021 December 31, 2020 Weighted-Average Useful Life Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Developed technology 4.1 $ 143,531 $ (50,310) $ 93,221 $ 143,151 $ (31,658) $ 111,493 Content library 5.5 4,700 (2,260) 2,440 4,700 (1,833) 2,867 Customer relationships 11.0 296,972 (32,642) 264,330 296,812 (18,946) 277,866 Customer contracts 2.0 58,746 (34,921) 23,825 58,717 (20,225) 38,492 Trade names, trademarks, and domain names 3.0 7,237 (2,868) 4,369 7,233 (1,661) 5,572 Total $ 511,186 $ (123,001) $ 388,185 $ 510,613 $ (74,323) $ 436,290 Amortization of customer-related intangible assets is recorded in sales and marketing expense in the accompanying condensed consolidated statements of operations; amortization of developed technology and content library intangible assets is recorded in cost of revenue; amortization of all other finite-lived intangibles is recorded in general and administrative expense. Total amortization expense was $24.3 million and $18.5 million for the three months ended June 30, 2021 and 2020 and $48.6 million and $20.2 million for the six months ended June 30, 2021 and 2020, respectively. The following table presents the Company's estimate of remaining amortization expense for finite-lived intangible assets that existed as of June 30, 2021 (in thousands): 2021 – remaining period $ 47,665 2022 73,152 2023 50,783 2024 42,426 2025 31,202 Thereafter 142,957 Estimated remaining amortization expense $ 388,185 The Company evaluates the recoverability of its long-lived assets with finite useful lives, including intangible assets, for impairment whenever events or changes in circumstances indicate that the carrying amounts may not be recoverable. The Company does not believe an impairment trigger occurred which would impact the recoverability of the carrying values as of June 30, 2021. There were no impairment charges related to identifiable intangible assets during the three and six months ended June 30, 2021 and 2020. Goodwill The following table presents the carrying amount of goodwill (in thousands): Balance as of December 31, 2020 $ 961,322 Measurement period adjustments 571 Effect of foreign currency translation 387 Balance as of June 30, 2021 $ 962,280

RESTRUCTURING

RESTRUCTURING	6 Months Ended
	Jun. 30, 2021
Restructuring and Related Activities [Abstract]
RESTRUCTURING	RESTRUCTURING The Company has recently undertaken various restructuring activities as part of the Company’s integration plan with Saba and to streamline the organization. The activities were composed primarily of workforce reductions and exits of certain facilities. The cost of workforce reductions is primarily composed of severance payments and termination benefits, including stock-based compensation in certain cases. The cost of vacated facilities is primarily composed of incremental amortization expense associated with vacated right-of-use assets and associated leasehold improvements. The present actions are expected to be substantially complete during 2021. All liabilities for severance and termination benefits are included in accounts payable, accrued expenses, and other current liabilities in the accompanying condensed consolidated balance sheets. Activity for the Company’s restructuring plan is as follows: Six Months Ended June 30, 2021 (in thousands) Severance payments and termination benefits $ 7,453 Stock-based compensation 2,504 Vacated facilities 896 Total restructuring expense $ 10,853 Restructuring liability balance as of December 31, 2020 $ 6,233 Severance payments and termination benefits expense 7,453 Cash payments (8,853) Effect of foreign currency translation (70) Restructuring liability balance as of June 30, 2021 $ 4,763

OTHER BALANCE SHEET AMOUNTS

OTHER BALANCE SHEET AMOUNTS	6 Months Ended
	Jun. 30, 2021
Balance Sheet Related Disclosures [Abstract]
OTHER BALANCE SHEET AMOUNTS	OTHER BALANCE SHEET AMOUNTS Property and Equipment, net The balance of property and equipment, net is as follows (dollars in thousands): Useful Life June 30, 2021 December 31, 2020 Computer equipment and software 1 – 6 years $ 68,477 $ 66,205 Furniture and fixtures 1 – 7 years 7,133 6,580 Leasehold improvements 1 – 8 years 27,089 26,204 Total property and equipment 102,699 98,989 Less: accumulated depreciation and amortization (77,179) (66,718) Total property and equipment, net $ 25,520 $ 32,271 Depreciation expense was $3.6 million and $5.8 million for the three months ended June 30, 2021 and 2020 and $8.9 million and $8.9 million for the six months ended June 30, 2021 and 2020, respectively. Accounts Payable, Accrued Expenses, and Other Current Liabilities The balance of accounts payable, accrued expenses, and other current liabilities is as follows (in thousands): June 30, 2021 December 31, 2020 Accounts payable $ 7,058 $ 1,424 Accrued compensation and related liabilities 54,898 76,974 Other accrued expenses and other current liabilities 56,469 51,510 Total accounts payable, accrued expenses, and other current liabilities $ 118,425 $ 129,908 Deferred Commissions The Company defers commissions paid to its sales force and related payroll taxes as these amounts are incremental costs of obtaining a contract with a customer and are recoverable from future revenue due to the non-cancelable customer agreements that gave rise to the commissions. Deferred commissions are amortized over the related benefit period, which has been determined to be six years for initial contracts, and the contract term for renewal contracts, which is generally three years. Commissions expense was $12.7 million and $9.9 million for the three months ended June 30, 2021 and 2020 and $25.0 million and $19.0 million for the six months ended June 30, 2021 and 2020, respectively. These expenses were recorded in sales and marketing in the accompanying condensed consolidated statements of operations. Capitalized Software Development Costs The Company capitalized $9.7 million and $7.5 million of software development costs and amortized $6.2 million and $6.7 million to cost of revenue during the three months ended June 30, 2021 and 2020, respectively. The Company capitalized $18.3 million and $15.1 million of software development costs and amortized $13.2 million and $13.9 million to cost of revenue during the six months ended June 30, 2021 and 2020, respectively.

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	6 Months Ended
	Jun. 30, 2021
Fair Value Disclosures [Abstract]
FAIR VALUE OF FINANCIAL INSTRUMENTS	FAIR VALUE OF FINANCIAL INSTRUMENTS Fair value represents the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal, or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. Observable inputs are based on market data obtained from independent sources. The fair value hierarchy is based on the following three levels of inputs, of which the first two are considered observable and the last one is considered unobservable: • Level 1 – Quoted prices (unadjusted) in active markets for identical assets or liabilities that management has the ability to access at the measurement date. • Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. • Level 3 – Unobservable inputs Assets and liabilities measured at fair value on a recurring basis included the following (in thousands): June 30, 2021 December 31, 2020 Fair Value Level 1 Level 2 Level 3 Fair Value Level 1 Level 2 Level 3 Interest rate swap contracts designated as cash flow hedges $ 1,950 $ — $ 1,950 $ — $ (885) $ — $ (885) $ — At June 30, 2021 and December 31, 2020, the Company had no cash equivalents measured at fair value on a recurring basis. Derivatives Designated as Hedging Instruments – Cash Flow Hedges The change in fair value of derivatives designated and qualifying as cash flow hedges is deferred as a component of accumulated other comprehensive loss in the accompanying condensed consolidated balance sheets and is subsequently reclassified into earnings in the period that the hedged interest expense affects earnings. As of June 30, 2021, the Company had two outstanding interest rate swap derivatives designated as hedging instruments with an aggregate notional value of $596.7 million. These contracts have maturities of four years or less with amortizing notional values over the contract term. The following table summarizes the amount of income recognized from derivative instruments and the line items in the accompanying condensed consolidated statements of operations where the results were recorded for cash flow hedges (in thousands): Amount of Gain (Loss) Recognized in Other Comprehensive Loss on Derivative Location of Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss Three Months Ended Three Months Ended June 30, 2021 June 30, 2020 June 30, 2021 June 30, 2020 Interest rate swap contracts $ (507) $ — Interest expense $ (267) $ — Amount of Gain (Loss) Recognized in Other Comprehensive Loss on Derivative Location of Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss Six Months Ended Six Months Ended June 30, 2021 June 30, 2020 June 30, 2021 June 30, 2020 Interest rate swap contracts $ 2,302 $ — Interest expense $ (518) $ — The Company expects that $(0.6) million recorded as a component of accumulated other comprehensive income (loss) will be recognized in the statements of operations over the next twelve months. The following table summarizes the fair values of derivative instruments and the line items in the accompanying condensed consolidated balance sheets where the instruments are recorded (in thousands): Derivative Assets Derivative Liabilities June 30, 2021 December 31, 2020 June 30, 2021 December 31, 2020 Designated as cash flow hedges: Balance Sheet location: Balance Sheet location: Interest rate swap contracts Prepaid expenses and other current assets $ — $ — Accounts payable, accrued expenses, and other current liabilities $ (25) $ (40) Interest rate swap contracts Other assets $ 1,975 $ — Other liabilities, non-current $ — $ (845) Convertible Notes The Company’s Convertible Notes, as described in Note 3 – Debt , are presented in the accompanying condensed consolidated balance sheets at their original issuance value, net of unaccreted debt discount and unamortized debt issuance costs, and are not remeasured to fair value each period. The fair value of the Company’s Convertible Notes as of June 30, 2021 was approximately $430 million. The fair value of the Convertible Notes, which are classified as Level 2 financial instruments, was estimated on the basis of the current equity value implicit in the instrument.

STOCKHOLDERS_ EQUITY

STOCKHOLDERS’ EQUITY	6 Months Ended
	Jun. 30, 2021
Equity [Abstract]
STOCKHOLDERS’ EQUITY	STOCKHOLDERS’ EQUITY Common Stock As of June 30, 2021 and December 31, 2020, there were 1,000,000,000 shares of common stock authorized. As of June 30, 2021 and December 31, 2020, there were 66,642,159 and 64,926,234 shares issued and outstanding, respectively. Share Repurchase Programs In August 2019, the Company’s board of directors authorized a $150.0 million share repurchase program of its common stock (the “2019 Share Repurchase Program”). The 2019 Share Repurchase Program is set to terminate when the aggregate cost of shares repurchased under the 2019 Share Repurchase Program reaches $150.0 million. Share repurchases may be executed through various means, including, without limitation, open market transactions, privately negotiated transactions, or otherwise. The timing and amount of any share repurchase will depend on share price, corporate and regulatory requirements, economic and market conditions, and other factors. At July 1, 2021, $127.6 million remained available for repurchase of shares under the 2019 Share Repurchase Program. There were no share repurchases under the 2019 Share Repurchase Program during the three and six months ended June 30, 2021 and 2020.

STOCK-BASED AWARDS

STOCK-BASED AWARDS	6 Months Ended
	Jun. 30, 2021
Share-based Payment Arrangement [Abstract]
STOCK-BASED AWARDS	STOCK-BASED AWARDS Stock Options Stock option activity is summarized as follows (in thousands, except per share and term information): Number of Shares Weighted- Weighted- Aggregate Intrinsic Value 1 Outstanding, December 31, 2020 1,819 $ 37.81 2.6 $ 15,541 Exercised (249) 30.23 Forfeited (8) 53.02 Outstanding, June 30, 2021 1,562 $ 38.94 2.2 $ 20,253 Exercisable at June 30, 2021 1,562 $ 38.94 2.2 $ 20,253 Vested and expected to vest at June 30, 2021 1,562 $ 38.94 2.2 $ 20,253 1 Based on the Company’s closing stock price of $51.58 on June 30, 2021 and $44.04 on December 31, 2020. There were no stock options granted during the three and six months ended June 30, 2021 and 2020. Restricted Stock Units Restricted stock unit (“RSU”) activity is summarized as follows (shares in thousands): Number of Shares Weighted- Unvested shares at December 31, 2020 3,891 $ 42.21 Granted 1,450 46.40 Forfeited (346) 43.42 Vested (1,228) 41.71 Unvested shares at June 30, 2021 3,767 $ 43.85 Unrecognized compensation expense related to unvested RSUs was $122.0 million at June 30, 2021, which is expected to be recognized over a weighted-average period of 2.3 years. Performance-Based Restricted Stock Units Performance-based restricted stock unit (“PRSU”) activity is summarized as follows (shares in thousands): Number of Shares Weighted- Unvested shares at December 31, 2020 1 2,229 $ 41.95 Granted 519 85.50 Forfeited (549) 40.22 Vested (110) 40.60 Unvested shares at June 30, 2021 1 2,089 $ 53.29 1 Assumes maximum achievement of the specified financial targets. Unrecognized compensation expense related to unvested PRSUs was $23.5 million at June 30, 2021, which is expected to be recognized over a weighted-average period of 1.6 years. Employee Stock Purchase Plan Under the Company’s 2010 Employee Stock Purchase Plan (“ESPP”), eligible employees are granted the right to purchase shares at the lower of 85% of the fair value of the stock at the time of grant or 85% of the fair value at the time of exercise. The right to purchase shares is granted semi-annually, in June and December, for six month offering periods. Under the ESPP 4,697,036 shares remained available for issuance at June 30, 2021. During the six months ended June 30, 2021 and 2020, 128,632 and 130,177 shares were purchased under the ESPP, respectively. Stock-Based Compensation Stock-based compensation expense is reflected in the accompanying condensed consolidated statements of operations as follows (in thousands): Three Months Ended Six Months Ended June 30, June 30, 2021 2020 2021 2020 Cost of revenue $ 2,261 $ 2,122 $ 4,317 $ 4,823 Sales and marketing 5,393 5,628 11,690 14,212 Research and development 3,357 2,724 7,412 7,524 General and administrative 6,212 3,421 12,085 10,506 Restructuring 1,303 208 2,504 208 Total $ 18,526 $ 14,103 $ 38,008 $ 37,273

INCOME TAXES

INCOME TAXES	6 Months Ended
	Jun. 30, 2021
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The Company’s income tax (provision) benefit was approximately $(2.3) million and $29.1 million with an effective income tax rate of 119.6% and 70.8% for the three months ended June 30, 2021 and 2020. The Company’s income tax (provision) benefit was approximately $(0.1) million and $28.9 million with an effective income tax rate of (0.8)% and 52.9% for the six months ended June 30, 2021 and 2020. The Company’s effective tax rate differs from the US statutory rate of 21% primarily due to the change in the valuation allowance on the Company’s deferred tax assets and income taxes in foreign jurisdictions with no valuation allowances. The income tax provision is related to domestic income, certain foreign income, and withholding taxes. The Company does not have a material tax provision in significant jurisdictions in which it operates, such as the United States and the United Kingdom, as it has historically generated losses. The Company has recorded a full valuation allowance against its net deferred tax assets in the aforementioned jurisdictions and the Company does not currently anticipate recording an income tax benefit related to these deferred tax assets or current year losses. The Company’s provision for income taxes for the three and six months ended June 30, 2021 was estimated using the discrete method and was based on its financial results through the end of the period. The Company determined that using the discrete method is more appropriate than using the annual effective tax rate method. The Company is unable to estimate the annual effective tax rate with sufficient precision to use the effective tax rate method, which requires a full-year projection of income. The Company is subject to United States federal income tax as well as to income tax in multiple state and foreign jurisdictions, including the United Kingdom. Federal income tax returns of the Company are subject to IRS examination for the 2017 through 2020 tax years. State income tax returns are subject to examination for the 2016 through 2020 tax years. There are ongoing audits in insignificant tax jurisdictions. The Company does not anticipate any material impact from these audits.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Commitments In March 2020, the Company entered into an agreement with a provider of cloud computing services to provide services over approximately seven years. The remaining obligation as of June 30, 2021 is $73.5 million. Letters of Credit The Company maintains standby letters of credit in association with other contractual arrangements. Total letters of credit outstanding at June 30, 2021 and December 31, 2020 were $8.8 million and $8.9 million, respectively. Guarantees and Indemnifications The Company has made guarantees and indemnities under which it may be required to make payments to a guaranteed or indemnified party, in relation to certain transactions, including revenue transactions in the ordinary course of business. The Company is obligated to indemnify its directors and officers to the maximum extent permitted under the laws of the State of Delaware. However, the Company has a directors and officers insurance policy that may reduce its exposure in certain circumstances and may enable it to recover a portion of future amounts that may be payable, if any. The duration of the guarantees and indemnities varies and, in many cases, is indefinite but subject to statutes of limitations. To date, the Company has made no payments related to these guarantees and indemnities. The Company estimates the fair value of its indemnification obligations as insignificant based on this history and the Company’s insurance coverage and, therefore, has not recorded any liability for these guarantees and indemnities in the accompanying condensed consolidated balance sheets. Litigation The Company is subject to various legal proceedings and claims that arise in the ordinary course of business. If the Company determines that it is probable that a loss has been incurred and the amount is reasonably estimable, the Company will record a liability. The Company has determined that it does not have a potential liability related to any legal proceedings or claims that would individually, or in the aggregate, have a significant adverse effect on its financial condition or operating results.

LEASES

LEASES	6 Months Ended
	Jun. 30, 2021
Leases [Abstract]
LEASES	LEASES The Company has various non-cancelable operating leases for its offices and data centers. These arrangements have remaining lease terms up to nine years. Certain lease agreements contain renewal options, termination rights, rent abatement, and/or escalation clauses with renewal terms that can extend the lease term, generally from one The components of lease cost related to the Company’s operating leases are as follows: Six Months Ended June 30, 2021 2020 (in thousands) Operating lease cost $ 10,493 $ 8,843 Sublease income (901) (2,044) Net lease cost $ 9,592 $ 6,799 Supplemental cash flow information related to leases, including leases acquired in business combinations, is as follows: Six Months Ended June 30, 2021 2020 (in thousands) Cash paid for operating leases $ 7,471 $ 6,402 Right-of-use assets obtained in exchange for lease obligations — 17,762 Supplemental balance sheet information related to the Company’s operating leases is as follows: June 30, 2021 December 31, 2020 Weighted-average remaining lease term 4.9 years 5.2 years Weighted-average incremental borrowing rate 3.7 % 3.5 % Maturities of the Company’s operating lease liabilities at June 30, 2021 are as follows (in thousands): 2021 – remaining period $ 6,474 2022 20,258 2023 19,132 2024 9,760 2025 8,251 Thereafter 14,742 Total lease payments 78,617 Less: Imputed interest 1 (7,119) Present value of operating lease liabilities $ 71,498 1 Calculated using the incremental borrowing rate for each lease.

REVENUE, DEFERRED REVENUE, AND

REVENUE, DEFERRED REVENUE, AND REMAINING PERFORMANCE OBLIGATIONS	6 Months Ended
	Jun. 30, 2021
Revenue from Contract with Customer [Abstract]
REVENUE, DEFERRED REVENUE, AND REMAINING PERFORMANCE OBLIGATIONS	REVENUE, DEFERRED REVENUE, AND REMAINING PERFORMANCE OBLIGATIONS Disaggregation of Revenue The following table sets forth the Company’s sources of revenue (in thousands): Three Months Ended Six Months Ended June 30, June 30, 2021 2020 2021 2020 Subscription revenue $ 206,821 $ 177,217 $ 407,405 $ 321,638 Professional services revenue 7,522 7,141 16,211 12,856 Total revenue $ 214,343 $ 184,358 $ 423,616 $ 334,494 The following table sets forth revenue by geographic region, which is generally based on the address of the Company’s customers as defined in their master subscription agreements (in thousands): Three Months Ended Six Months Ended June 30, June 30, 2021 2020 2021 2020 United States $ 129,461 $ 119,385 $ 256,653 $ 217,303 All other countries 84,882 64,973 166,963 117,191 Total revenue $ 214,343 $ 184,358 $ 423,616 $ 334,494 Deferred Revenue The Company recognized $187.9 million and $138.6 million of revenue during the three months ended June 30, 2021 and 2020, respectively, that was included in the deferred revenue balances as of March 31, 2021 and 2020, respectively. The Company recognized $318.1 million and $243.2 million of revenue during the six months ended June 30, 2021 and 2020, respectively, that was included in the deferred revenue balances as of December 31, 2020 and 2019, respectively. Transaction Price Allocated to Remaining Performance Obligations As of June 30, 2021, approximately $1.177 billion of revenue is expected to be recognized from remaining performance obligations. The Company expects to recognize revenue on approximately 70% of these remaining performance obligations over the next 18 months, with the balance recognized thereafter.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended
	Jun. 30, 2021
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONSThe Cornerstone OnDemand Foundation (the “Foundation”) empowers communities in the United States and internationally by increasing the impact of the non-profit sector through the utilization of people development technology including the Company’s products. The Company’s founder and co-chairperson of the board of directors is on the Foundation’s board of directors. The Company does not direct the Foundation’s activities, and accordingly, the Company does not consolidate the Foundation’s activities with its financial results. The Company provided at no charge certain resources to the Foundation, with approximate values of $0.8 million and $0.7 million during the three months ended June 30, 2021 and 2020 and $1.6 million and $1.8 million during the six months ended June 30, 2021 and 2020, respectively.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Jun. 30, 2021
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS On August 5, 2021, the Company entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Sunshine Software Holdings, Inc., a Delaware corporation (“Sunshine Software”), and Sunshine Software Merger Sub, Inc., a Delaware corporation and an indirect wholly owned subsidiary of Sunshine Software (“Merger Sub”), providing for the merger of Merger Sub with and into the Company (the “Merger”), with the Company surviving the Merger as an indirect wholly owned subsidiary of Sunshine Software. Sunshine Software and Merger Sub were formed by Clearlake Capital (refer to Note 1 – Organization and Summary of Significant Accounting Policies – Company Overview for additional information). As a result of the Merger, each share of common stock, par value $0.0001 per share, of the Company issued and outstanding immediately prior to the effective time of the Merger (other than shares, if any, held by the Company, Sunshine Software, Merger Sub or any of their subsidiaries, shares held in treasury, and shares with respect to which dissenters rights have been properly demanded in accordance with the Delaware General Corporation Law) will be converted into the right to receive $57.50 in cash, without interest, per share. Subject to the satisfaction or waiver of customary closing conditions, including the approval of the Merger by the Company’s stockholders and receipt of certain governmental approvals, the Merger is expected to be completed in the second half of calendar year 2021.

ORGANIZATION AND SUMMARY OF S_2

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared on the same basis as the Company’s annual consolidated financial statements. These unaudited condensed financial statements are presented in accordance with (i) accounting standards generally accepted in the United States of America (“GAAP”) for interim financial information and (ii) the instructions to Form 10-Q and Article 10 of Regulation S-X. Certain information and note disclosures normally included in the annual consolidated financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. In the opinion of management, the financial statements include all adjustments (consisting of normal recurring adjustments) necessary for the fair presentation of the interim periods presented. Results of operations for the three and six months ended June 30, 2021 are not necessarily indicative of the results that may be expected for the year ending December 31, 2021, for any other interim period, or for any other future year. Certain prior period balances have been reclassified to conform to the current period presentation.
Recent Accounting Pronouncements Adopted	Recently Adopted Accounting Pronouncements In December 2019, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2019-12, Simplifying the Accounting for Income Taxes (“ASU 2019-12”), which enhances and simplifies various aspects of the income tax accounting guidance. The guidance was effective for the Company in the first quarter of 2021. The adoption did not have a material impact on the Company’s consolidated financial statements.

BUSINESS COMBINATIONS (Tables)

BUSINESS COMBINATIONS (Tables)	6 Months Ended
	Jun. 30, 2021
Business Combination and Asset Acquisition [Abstract]
Fair Value of Assets Acquired and Liabilities Assumed as a Result of the Saba Group Acquisition	The following table summarizes the fair value of assets acquired and liabilities assumed as a result of the acquisition of Saba, as adjusted (in thousands): Preliminary Fair Value at Acquisition Date Measurement Period Adjustments 1 Adjusted Fair Value at Acquisition Date Cash and cash equivalents $ 49,471 $ — $ 49,471 Accounts receivable 58,764 — 58,764 Prepaid expenses and other current assets 13,020 — 13,020 Property and equipment 9,446 — 9,446 Operating right-of-use assets 16,700 — 16,700 Intangible assets 481,000 — 481,000 Goodwill 905,498 (2,977) 902,521 Other assets 2,698 1,122 3,820 Total assets 1,536,597 (1,855) 1,534,742 Accounts payable and accrued expenses 28,978 — 28,978 Deferred revenue 69,940 1,092 71,032 Operating lease liabilities 16,532 — 16,532 Deferred tax liabilities, net 46,472 (283) 46,189 Other liabilities 12,782 — 12,782 Total liabilities 174,704 809 175,513 Total purchase consideration $ 1,361,893 $ (2,664) $ 1,359,229 1 The Company received approximately $2.7 million from escrow and made other revisions to certain acquired balances during the measurement period which closed one year from the acquisition date. The Company’s allocation of the total purchase consideration as of January 24, 2020 is summarized below (in thousands): Fair Value at Tangible assets $ 1,275 Intangible assets – developed technology 9,800 Intangible assets – customer relationships 800 Goodwill 8,875 Deferred tax liabilities (1,020) Accounts payable and accrued expenses (755) Deferred revenue (336) Net assets acquired $ 18,639
Schedule of Allocation of the Total Purchase Consideration	The following table summarizes the fair value of assets acquired and liabilities assumed as a result of the acquisition of Saba, as adjusted (in thousands): Preliminary Fair Value at Acquisition Date Measurement Period Adjustments 1 Adjusted Fair Value at Acquisition Date Cash and cash equivalents $ 49,471 $ — $ 49,471 Accounts receivable 58,764 — 58,764 Prepaid expenses and other current assets 13,020 — 13,020 Property and equipment 9,446 — 9,446 Operating right-of-use assets 16,700 — 16,700 Intangible assets 481,000 — 481,000 Goodwill 905,498 (2,977) 902,521 Other assets 2,698 1,122 3,820 Total assets 1,536,597 (1,855) 1,534,742 Accounts payable and accrued expenses 28,978 — 28,978 Deferred revenue 69,940 1,092 71,032 Operating lease liabilities 16,532 — 16,532 Deferred tax liabilities, net 46,472 (283) 46,189 Other liabilities 12,782 — 12,782 Total liabilities 174,704 809 175,513 Total purchase consideration $ 1,361,893 $ (2,664) $ 1,359,229 1 The Company received approximately $2.7 million from escrow and made other revisions to certain acquired balances during the measurement period which closed one year from the acquisition date. The Company’s allocation of the total purchase consideration as of January 24, 2020 is summarized below (in thousands): Fair Value at Tangible assets $ 1,275 Intangible assets – developed technology 9,800 Intangible assets – customer relationships 800 Goodwill 8,875 Deferred tax liabilities (1,020) Accounts payable and accrued expenses (755) Deferred revenue (336) Net assets acquired $ 18,639
Schedule of Gross Carrying Amount and Accumulated Amortization of Finite-lived Intangible Assets	The following table provides the valuation of the Saba intangible assets, along with their estimated useful lives: Estimated Fair Value Estimated Useful Life Customer relationships $ 294,800 11 Customer contracts 58,500 2 Developed technology 120,500 3 – 5 Trade names, trademarks, and domain names 7,200 3 Total $ 481,000
Unaudited Pro Forma Results	The unaudited pro forma results presented below include adjustments for amortization of identifiable intangible assets, interest expense related to debt financing, and related tax effects (in thousands): Three Months Ended Six Months Ended June 30, June 30, 2020 2020 Revenue $ 201,949 $ 420,913 Net loss (35,789) (73,035)

DEBT (Tables)

DEBT (Tables)	6 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
Summary of Net Carrying Amount of Debt	The net carrying amounts of the components of the Term Loan Facility consist of the following (in thousands): June 30, 2021 December 31, 2020 Principal amount $ 827,602 $ 952,188 Unaccreted debt discount (20,298) (23,082) Unamortized debt issuance costs (18,910) (21,392) Net carrying value $ 788,394 $ 907,714 The net carrying amounts of the components of the Convertible Notes consist of the following (in thousands): June 30, 2021 December 31, 2020 Principal amount $ 300,000 $ 300,000 Unaccreted debt discount (12,872) (16,178) Unamortized debt issuance costs (4,177) (5,250) Net carrying value $ 282,951 $ 278,572
Schedule of Interest Expense Recognized	The following table presents the interest expense recognized related to the Term Loan Facility (in thousands): Three Months Ended Six Months Ended June 30, June 30, 2021 2020 2021 2020 Contractual interest expense $ 7,593 $ 10,298 $ 17,433 $ 10,298 Accretion of debt discount 792 699 1,746 699 Amortization of debt issuance costs 763 663 1,668 663 Total $ 9,148 $ 11,660 $ 20,847 $ 11,660 The following table presents the interest expense recognized related to the Convertible Notes (in thousands): Three Months Ended Six Months Ended June 30, June 30, 2021 2020 2021 2020 Contractual interest expense $ 4,313 $ 4,313 $ 8,626 $ 8,626 Accretion of debt discount 1,699 1,499 3,306 1,930 Amortization of debt issuance costs 551 593 1,073 1,256 Total $ 6,563 $ 6,405 $ 13,005 $ 11,812

NET LOSS PER SHARE (Tables)

NET LOSS PER SHARE (Tables)	6 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
Summary of Basic and Diluted Net Loss Per Share	The following table presents the Company’s basic and diluted net loss per share (in thousands, except per share amounts): Three Months Ended Six Months Ended June 30, June 30, 2021 2020 2021 2020 Net loss $ (371) $ (11,987) $ (12,823) $ (25,762) Net loss per share, basic and diluted $ (0.01) $ (0.19) $ (0.19) $ (0.41) Weighted-average shares of common stock outstanding, basic and diluted 66,330 63,593 65,866 62,612
Anti-Dilutive Shares Excluded from Calculation of Diluted Net Loss Per Share	The following potential shares were excluded from the computation of diluted net loss per share because their effect would have been anti-dilutive (in thousands): June 30, 2021 2020 Options to purchase common stock, restricted stock units, and performance-based restricted stock units 7,418 8,947 Shares issuable pursuant to employee stock purchase plan 109 152 Convertible notes 7,143 7,143 Total shares excluded from net loss per share 14,670 16,242

CASH AND INVESTMENTS (Tables)

CASH AND INVESTMENTS (Tables)	6 Months Ended
	Jun. 30, 2021
Investments, Debt and Equity Securities [Abstract]
Non-Marketable Investments	The Company’s non-marketable investments are composed of the following (in thousands): June 30, 2021 December 31, 2020 Accounted for at cost, adjusted for observable price changes $ 1,867 $ 1,750 Accounted for using the equity method — 6,815 Total non-marketable investments $ 1,867 $ 8,565

INTANGIBLE ASSETS AND GOODWILL

INTANGIBLE ASSETS AND GOODWILL (Tables)	6 Months Ended
	Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Gross Carrying Amount and Accumulated Amortization of Finite-lived Intangible Assets	The following table presents the gross carrying amount and accumulated amortization of finite-lived intangible assets (dollars in thousands): June 30, 2021 December 31, 2020 Weighted-Average Useful Life Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Developed technology 4.1 $ 143,531 $ (50,310) $ 93,221 $ 143,151 $ (31,658) $ 111,493 Content library 5.5 4,700 (2,260) 2,440 4,700 (1,833) 2,867 Customer relationships 11.0 296,972 (32,642) 264,330 296,812 (18,946) 277,866 Customer contracts 2.0 58,746 (34,921) 23,825 58,717 (20,225) 38,492 Trade names, trademarks, and domain names 3.0 7,237 (2,868) 4,369 7,233 (1,661) 5,572 Total $ 511,186 $ (123,001) $ 388,185 $ 510,613 $ (74,323) $ 436,290
Schedule of Estimated Remaining Intangible Asset Amortization	The following table presents the Company's estimate of remaining amortization expense for finite-lived intangible assets that existed as of June 30, 2021 (in thousands): 2021 – remaining period $ 47,665 2022 73,152 2023 50,783 2024 42,426 2025 31,202 Thereafter 142,957 Estimated remaining amortization expense $ 388,185
Carrying Amount of Goodwill	The following table presents the carrying amount of goodwill (in thousands): Balance as of December 31, 2020 $ 961,322 Measurement period adjustments 571 Effect of foreign currency translation 387 Balance as of June 30, 2021 $ 962,280

RESTRUCTURING (Tables)

RESTRUCTURING (Tables)	6 Months Ended
	Jun. 30, 2021
Restructuring and Related Activities [Abstract]
Schedule of Restructuring Activity	Activity for the Company’s restructuring plan is as follows: Six Months Ended June 30, 2021 (in thousands) Severance payments and termination benefits $ 7,453 Stock-based compensation 2,504 Vacated facilities 896 Total restructuring expense $ 10,853 Restructuring liability balance as of December 31, 2020 $ 6,233 Severance payments and termination benefits expense 7,453 Cash payments (8,853) Effect of foreign currency translation (70) Restructuring liability balance as of June 30, 2021 $ 4,763

OTHER BALANCE SHEET AMOUNTS (Ta

OTHER BALANCE SHEET AMOUNTS (Tables)	6 Months Ended
	Jun. 30, 2021
Balance Sheet Related Disclosures [Abstract]
Schedule of property and equipment, net	The balance of property and equipment, net is as follows (dollars in thousands): Useful Life June 30, 2021 December 31, 2020 Computer equipment and software 1 – 6 years $ 68,477 $ 66,205 Furniture and fixtures 1 – 7 years 7,133 6,580 Leasehold improvements 1 – 8 years 27,089 26,204 Total property and equipment 102,699 98,989 Less: accumulated depreciation and amortization (77,179) (66,718) Total property and equipment, net $ 25,520 $ 32,271
Schedule of accrued expenses	The balance of accounts payable, accrued expenses, and other current liabilities is as follows (in thousands): June 30, 2021 December 31, 2020 Accounts payable $ 7,058 $ 1,424 Accrued compensation and related liabilities 54,898 76,974 Other accrued expenses and other current liabilities 56,469 51,510 Total accounts payable, accrued expenses, and other current liabilities $ 118,425 $ 129,908

FAIR VALUE OF FINANCIAL INSTR_2

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	6 Months Ended
	Jun. 30, 2021
Fair Value Disclosures [Abstract]
Summary of assets and liabilities measured at fair value	Assets and liabilities measured at fair value on a recurring basis included the following (in thousands): June 30, 2021 December 31, 2020 Fair Value Level 1 Level 2 Level 3 Fair Value Level 1 Level 2 Level 3 Interest rate swap contracts designated as cash flow hedges $ 1,950 $ — $ 1,950 $ — $ (885) $ — $ (885) $ —
Schedule of income recognized from derivative instruments	The following table summarizes the amount of income recognized from derivative instruments and the line items in the accompanying condensed consolidated statements of operations where the results were recorded for cash flow hedges (in thousands): Amount of Gain (Loss) Recognized in Other Comprehensive Loss on Derivative Location of Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss Three Months Ended Three Months Ended June 30, 2021 June 30, 2020 June 30, 2021 June 30, 2020 Interest rate swap contracts $ (507) $ — Interest expense $ (267) $ — Amount of Gain (Loss) Recognized in Other Comprehensive Loss on Derivative Location of Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss Six Months Ended Six Months Ended June 30, 2021 June 30, 2020 June 30, 2021 June 30, 2020 Interest rate swap contracts $ 2,302 $ — Interest expense $ (518) $ —
Schedule of fair values of derivative instruments	The following table summarizes the fair values of derivative instruments and the line items in the accompanying condensed consolidated balance sheets where the instruments are recorded (in thousands): Derivative Assets Derivative Liabilities June 30, 2021 December 31, 2020 June 30, 2021 December 31, 2020 Designated as cash flow hedges: Balance Sheet location: Balance Sheet location: Interest rate swap contracts Prepaid expenses and other current assets $ — $ — Accounts payable, accrued expenses, and other current liabilities $ (25) $ (40) Interest rate swap contracts Other assets $ 1,975 $ — Other liabilities, non-current $ — $ (845)

STOCK-BASED AWARDS (Tables)

STOCK-BASED AWARDS (Tables)	6 Months Ended
	Jun. 30, 2021
Share-based Payment Arrangement [Abstract]
Summary of Stock Option Activity	Stock option activity is summarized as follows (in thousands, except per share and term information): Number of Shares Weighted- Weighted- Aggregate Intrinsic Value 1 Outstanding, December 31, 2020 1,819 $ 37.81 2.6 $ 15,541 Exercised (249) 30.23 Forfeited (8) 53.02 Outstanding, June 30, 2021 1,562 $ 38.94 2.2 $ 20,253 Exercisable at June 30, 2021 1,562 $ 38.94 2.2 $ 20,253 Vested and expected to vest at June 30, 2021 1,562 $ 38.94 2.2 $ 20,253 1 Based on the Company’s closing stock price of $51.58 on June 30, 2021 and $44.04 on December 31, 2020.
Schedule of restricted stock unit activity	Restricted stock unit (“RSU”) activity is summarized as follows (shares in thousands): Number of Shares Weighted- Unvested shares at December 31, 2020 3,891 $ 42.21 Granted 1,450 46.40 Forfeited (346) 43.42 Vested (1,228) 41.71 Unvested shares at June 30, 2021 3,767 $ 43.85
Schedule of performance-based units activity	Performance-based restricted stock unit (“PRSU”) activity is summarized as follows (shares in thousands): Number of Shares Weighted- Unvested shares at December 31, 2020 1 2,229 $ 41.95 Granted 519 85.50 Forfeited (549) 40.22 Vested (110) 40.60 Unvested shares at June 30, 2021 1 2,089 $ 53.29 1 Assumes maximum achievement of the specified financial targets.
Summary of stock-based compensation expense	Stock-based compensation expense is reflected in the accompanying condensed consolidated statements of operations as follows (in thousands): Three Months Ended Six Months Ended June 30, June 30, 2021 2020 2021 2020 Cost of revenue $ 2,261 $ 2,122 $ 4,317 $ 4,823 Sales and marketing 5,393 5,628 11,690 14,212 Research and development 3,357 2,724 7,412 7,524 General and administrative 6,212 3,421 12,085 10,506 Restructuring 1,303 208 2,504 208 Total $ 18,526 $ 14,103 $ 38,008 $ 37,273

LEASES (Tables)

LEASES (Tables)	6 Months Ended
	Jun. 30, 2021
Leases [Abstract]
Components of Lease Expense	The components of lease cost related to the Company’s operating leases are as follows: Six Months Ended June 30, 2021 2020 (in thousands) Operating lease cost $ 10,493 $ 8,843 Sublease income (901) (2,044) Net lease cost $ 9,592 $ 6,799
Supplemental Cash Flow Information Related to Leases	Supplemental cash flow information related to leases, including leases acquired in business combinations, is as follows: Six Months Ended June 30, 2021 2020 (in thousands) Cash paid for operating leases $ 7,471 $ 6,402 Right-of-use assets obtained in exchange for lease obligations — 17,762
Supplemental Balance Sheet Information of Operating Leases	Supplemental balance sheet information related to the Company’s operating leases is as follows: June 30, 2021 December 31, 2020 Weighted-average remaining lease term 4.9 years 5.2 years Weighted-average incremental borrowing rate 3.7 % 3.5 %
Maturities of Operating Lease Liabilities	Maturities of the Company’s operating lease liabilities at June 30, 2021 are as follows (in thousands): 2021 – remaining period $ 6,474 2022 20,258 2023 19,132 2024 9,760 2025 8,251 Thereafter 14,742 Total lease payments 78,617 Less: Imputed interest 1 (7,119) Present value of operating lease liabilities $ 71,498 1 Calculated using the incremental borrowing rate for each lease.

REVENUE, DEFERRED REVENUE, AN_2

REVENUE, DEFERRED REVENUE, AND REMAINING PERFORMANCE OBLIGATIONS (Tables)	6 Months Ended
	Jun. 30, 2021
Revenue from Contract with Customer [Abstract]
Schedule of revenue by source	The following table sets forth the Company’s sources of revenue (in thousands): Three Months Ended Six Months Ended June 30, June 30, 2021 2020 2021 2020 Subscription revenue $ 206,821 $ 177,217 $ 407,405 $ 321,638 Professional services revenue 7,522 7,141 16,211 12,856 Total revenue $ 214,343 $ 184,358 $ 423,616 $ 334,494
Schedule of revenue by geographic area	evenue by geographic region, which is generally based on the address of the Company’s customers as defined in their master subscription agreements (in thousands): Three Months Ended Six Months Ended June 30, June 30, 2021 2020 2021 2020 United States $ 129,461 $ 119,385 $ 256,653 $ 217,303 All other countries 84,882 64,973 166,963 117,191 Total revenue $ 214,343 $ 184,358 $ 423,616 $ 334,494

ORGANIZATION AND SUMMARY OF S_3

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Detail)	6 Months Ended
	Jun. 30, 2021segment	Aug. 05, 2021$ / shares
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of operating segments | segment	1
Sunshine Software | Subsequent Event
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Consideration on sale of stock (in dollars per share) | $ / shares		$ 57.50

BUSINESS COMBINATIONS - Additio

BUSINESS COMBINATIONS - Additional Information (Details) - USD ($)	Apr. 22, 2020	Jan. 24, 2020	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021
Business Acquisition [Line Items]
Acquisition-related and integration			$ 1,341,000	$ 20,093,000	$ 2,871,000	$ 26,904,000
Developed technology
Business Acquisition [Line Items]
Weighted average useful life (in years)					4 years 1 month 6 days
Customer relationships
Business Acquisition [Line Items]
Weighted average useful life (in years)					11 years
Saba Software, Inc.
Business Acquisition [Line Items]
Equity interest acquired (in percent)	100.00%
Purchase price	$ 1,310,000,000
Cash paid in acquisition	$ 1,277,000,000
Deferred revenue write down							$ 1,092,000
Saba Software, Inc. | Common Stock
Business Acquisition [Line Items]
Equity interest transferred (in shares)	1,110,352
Equity interest transferred	$ 32,900,000
Expected tax deductible amount of goodwill acquired	$ 0
Clustree
Business Acquisition [Line Items]
Cash paid in acquisition		$ 18,600,000
Deferred revenue write down				$ 18,600,000		$ 18,600,000
Clustree | Developed technology
Business Acquisition [Line Items]
Weighted average useful life (in years)		3 years
Clustree | Customer relationships
Business Acquisition [Line Items]
Weighted average useful life (in years)		2 years

BUSINESS COMBINATIONS - Assets

BUSINESS COMBINATIONS - Assets Acquired and Liabilities assumed (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended	14 Months Ended
	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2021	Apr. 22, 2020
Business Acquisition [Line Items]
Goodwill	$ 962,280	$ 961,322	$ 962,280
Goodwill, Purchase Accounting Adjustments	571
Saba Software, Inc.
Business Acquisition [Line Items]
Cash and cash equivalents	49,471		49,471	$ 49,471
Accounts receivable	58,764		58,764	58,764
Prepaid expenses and other current assets	13,020		13,020	13,020
Property and equipment	9,446		9,446	9,446
Operating right-of-use assets	16,700		16,700	16,700
Intangible assets	481,000		481,000	481,000
Goodwill	902,521		902,521	905,498
Goodwill, Purchase Accounting Adjustments			(2,977)
Other assets	3,820		3,820	2,698
Other assets, Purchase Accounting Adjustments			1,122
Total assets	1,534,742		1,534,742	1,536,597
Total Assets, Purchase Accounting Adjustments			(1,855)
Accounts payable and accrued expenses	28,978		28,978	28,978
Deferred revenue	71,032		71,032	69,940
Deferred Revenue, Purchase Accounting Adjustments			1,092
Operating lease liabilities	16,532		16,532	16,532
Deferred tax liabilities, net	46,189		46,189	46,472
Deferred tax liabilities, net, Purchase Accounting Adjustment			(283)
Other liabilities	12,782		12,782	12,782
Total liabilities	175,513		175,513	174,704
Total Liabilities, Purchase Accounting Adjustments			809
Net assets acquired	$ 1,359,229		1,359,229	$ 1,361,893
Total Purchase Consideration, Purchase Accounting Adjustments		$ (2,700)	$ (2,664)

BUSINESS COMBINATIONS - Identif

BUSINESS COMBINATIONS - Identifiable Intangible Assets (Details) - Saba Software, Inc. - USD ($) $ in Thousands	Apr. 22, 2020	Jun. 30, 2021
Business Acquisition [Line Items]
Intangible assets	$ 481,000	$ 481,000
Customer relationships
Business Acquisition [Line Items]
Intangible assets	$ 294,800
Estimated Useful Life (in years)	11 years
Customer contracts
Business Acquisition [Line Items]
Intangible assets	$ 58,500
Estimated Useful Life (in years)	2 years
Developed technology
Business Acquisition [Line Items]
Intangible assets	$ 120,500
Developed technology | Minimum
Business Acquisition [Line Items]
Estimated Useful Life (in years)	3 years
Developed technology | Maximum
Business Acquisition [Line Items]
Estimated Useful Life (in years)	5 years
Trade names, trademarks, and domain names
Business Acquisition [Line Items]
Intangible assets	$ 7,200
Estimated Useful Life (in years)	3 years

BUSINESS COMBINATIONS - Pro For

BUSINESS COMBINATIONS - Pro Forma Information (Details) - Saba Software, Inc. - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2021
Business Acquisition [Line Items]
Revenue	$ 201,949	$ 420,913
Net loss	$ (35,789)	$ (73,035)

BUSINESS COMBINATIONS - Allocat

BUSINESS COMBINATIONS - Allocation of Purchase Price (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020	Jan. 24, 2020
Business Acquisition [Line Items]
Goodwill	$ 962,280	$ 961,322
Clustree
Business Acquisition [Line Items]
Tangible assets			$ 1,275
Goodwill			8,875
Deferred tax liabilities			(1,020)
Accounts payable and accrued expenses			(755)
Deferred revenue			(336)
Net assets acquired			18,639
Clustree | Developed technology
Business Acquisition [Line Items]
Intangible assets			9,800
Clustree | Customer relationships
Business Acquisition [Line Items]
Intangible assets			$ 800

DEBT - Additional Information (

DEBT - Additional Information (Detail)	Apr. 23, 2021	Apr. 22, 2020USD ($)	Apr. 20, 2020USD ($)	Dec. 31, 2017USD ($)$ / shares	Dec. 31, 2017USD ($)$ / shares	Jun. 30, 2021USD ($)	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)	Dec. 31, 2017USD ($)$ / shares	Dec. 31, 2020USD ($)
Debt Instrument [Line Items]
Loss on extinguishment of debt and related expenses							$ 1,999,000	$ 0
Increase in debt discount as a result of modification of Convertible Notes		$ 18,600,000
Letter of Credit
Debt Instrument [Line Items]
Aggregate principal amount		$ 30,000,000
Line of Credit
Debt Instrument [Line Items]
Debt discount recorded						$ 20,298,000	20,298,000			$ 23,082,000
Transaction costs related to the issuance of Notes						18,910,000	18,910,000			21,392,000
Convertible notes
Debt Instrument [Line Items]
Debt discount recorded						12,872,000	12,872,000			16,178,000
Transaction costs related to the issuance of Notes						$ 4,177,000	$ 4,177,000			5,250,000
Senior Secured First lien Term Loan B Facility
Debt Instrument [Line Items]
Term		7 years
Aggregate principal amount		$ 1,004,700,000
Repurchase price of notes (in percent)		97.50%
Quarterly principal payment (in percent)		0.25%
Effective interest rate						4.20%	4.20%
Senior Secured First lien Term Loan B Facility | Interest rate swap contracts | Designated as Hedging Instrument
Debt Instrument [Line Items]
Fixed rate of hedged portion (in percent)		0.28%
Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Term		5 years
Aggregate principal amount		$ 150,000,000
Available at closing						$ 150,000,000	$ 150,000,000			$ 102,500,000
Loss on extinguishment of debt and related expenses						2,000,000
Third-party expenses related to loss on extinguishment						$ 1,100,000
Commitment fee on undrawn amounts (in percent)		0.50%
Line of Credit | Revolving Credit Facility | Maximum | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	3.25%	4.25%
Line of Credit | Revolving Credit Facility | Minimum | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	0.00%	0.00%
Convertible Senior Notes At 5.75%, Maturing 2021
Debt Instrument [Line Items]
Consent fees related to indenture			$ 3,400,000
Convertible Senior Notes At 5.75%, Maturing 2021 | Convertible notes
Debt Instrument [Line Items]
Aggregate principal amount				$ 300,000,000	$ 300,000,000				$ 300,000,000
Repurchase price of notes (in percent)							100.00%
Effective interest rate						9.20%	9.20%
Debt interest rate				5.75%	5.75%				5.75%
Debt issuance discount									98.00%
Net proceeds from the Notes				$ 284,800,000
Debt discount recorded				6,000,000	$ 6,000,000				$ 6,000,000
Transaction costs related to the issuance of Notes				$ 9,200,000	$ 9,200,000				$ 9,200,000
Conversion ratio					0.0238095
Conversion price (USD per share) | $ / shares				$ 42	$ 42				$ 42

DEBT - Summary of Net Carrying

DEBT - Summary of Net Carrying Amount of Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Line of Credit
Debt Instrument [Line Items]
Principal amount	$ 827,602	$ 952,188
Unaccreted debt discount	(20,298)	(23,082)
Unamortized debt issuance costs	(18,910)	(21,392)
Debt, net of current portion	788,394	907,714
Convertible Debt
Debt Instrument [Line Items]
Principal amount	300,000	300,000
Unaccreted debt discount	(12,872)	(16,178)
Unamortized debt issuance costs	(4,177)	(5,250)
Debt, net of current portion	$ 282,951	$ 278,572

DEBT - Schedule of Interest Exp

DEBT - Schedule of Interest Expense Recognized (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Line of Credit
Debt Instrument [Line Items]
Contractual interest expense	$ 7,593	$ 10,298	$ 17,433	$ 10,298
Accretion of debt discount	792	699	1,746	699
Amortization of debt issuance costs	763	663	1,668	663
Total	9,148	11,660	20,847	11,660
Convertible notes
Debt Instrument [Line Items]
Contractual interest expense	4,313	4,313	8,626	8,626
Accretion of debt discount	1,699	1,499	3,306	1,930
Amortization of debt issuance costs	551	593	1,073	1,256
Total	$ 6,563	$ 6,405	$ 13,005	$ 11,812

NET LOSS PER SHARE - Basic and

NET LOSS PER SHARE - Basic and Diluted Loss Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Earnings Per Share [Abstract]
Net loss	$ (371)	$ (11,987)	$ (12,823)	$ (25,762)
Net loss per share, basic (USD per share)	$ (0.01)	$ (0.19)	$ (0.19)	$ (0.41)
Net loss per share, diluted (USD per share)	$ (0.01)	$ (0.19)	$ (0.19)	$ (0.41)
Weighted-average common shares outstanding, diluted (in shares)	66,330	63,593	65,866	62,612
Weighted-average common shares outstanding, basic (in shares)	66,330	63,593	65,866	62,612

NET LOSS PER SHARE - Anti-dilut

NET LOSS PER SHARE - Anti-dilutive Shares Excluded From Calculation of Diluted Net Loss Per (Detail) - shares shares in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total shares excluded from net loss per share	14,670	16,242
Options to purchase common stock, restricted stock units, and performance-based restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total shares excluded from net loss per share	7,418	8,947
Shares issuable pursuant to employee stock purchase plan
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total shares excluded from net loss per share	109	152
Convertible notes
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total shares excluded from net loss per share	7,143	7,143

CASH AND INVESTMENTS - Non-Mark

CASH AND INVESTMENTS - Non-Marketable Investments (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Mar. 31, 2021	Jun. 30, 2020	Jun. 30, 2021	Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]
Write-down of equity method investment	$ 6,900
Loss on sale of available-for-sale securities		$ 1,900
Accounted for at cost, adjusted for observable price changes			$ 1,867	$ 1,750
Accounted for using the equity method			0	6,815
Total non-marketable investments			$ 1,867	$ 8,565

INTANGIBLE ASSETS AND GOODWIL_2

INTANGIBLE ASSETS AND GOODWILL - Gross Carrying Amount and Accumulated Amortization of Finite-lived Intangible Assets (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 511,186	$ 510,613
Accumulated Amortization	(123,001)	(74,323)
Net Carrying Amount	$ 388,185	436,290
Developed technology
Finite-Lived Intangible Assets [Line Items]
Weighted-Average Useful Life (in years)	4 years 1 month 6 days
Gross Carrying Amount	$ 143,531	143,151
Accumulated Amortization	(50,310)	(31,658)
Net Carrying Amount	$ 93,221	111,493
Content library
Finite-Lived Intangible Assets [Line Items]
Weighted-Average Useful Life (in years)	5 years 6 months
Gross Carrying Amount	$ 4,700	4,700
Accumulated Amortization	(2,260)	(1,833)
Net Carrying Amount	$ 2,440	2,867
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Weighted-Average Useful Life (in years)	11 years
Gross Carrying Amount	$ 296,972	296,812
Accumulated Amortization	(32,642)	(18,946)
Net Carrying Amount	$ 264,330	277,866
Customer contracts
Finite-Lived Intangible Assets [Line Items]
Weighted-Average Useful Life (in years)	2 years
Gross Carrying Amount	$ 58,746	58,717
Accumulated Amortization	(34,921)	(20,225)
Net Carrying Amount	$ 23,825	38,492
Trade names, trademarks, and domain names
Finite-Lived Intangible Assets [Line Items]
Weighted-Average Useful Life (in years)	3 years
Gross Carrying Amount	$ 7,237	7,233
Accumulated Amortization	(2,868)	(1,661)
Net Carrying Amount	$ 4,369	$ 5,572

INTANGIBLE ASSETS AND GOODWIL_3

INTANGIBLE ASSETS AND GOODWILL - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 24,300,000	$ 18,500,000	$ 48,600,000	$ 20,200,000
Impairment charges	$ 0	$ 0	$ 0	$ 0

INTANGIBLE ASSETS AND GOODWIL_4

INTANGIBLE ASSETS AND GOODWILL - Estimated Remaining Intangible Asset Amortization (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
2021 – remaining period	$ 47,665
2022	73,152
2023	50,783
2024	42,426
2025	31,202
Thereafter	142,957
Net Carrying Amount	$ 388,185	$ 436,290

INTANGIBLE ASSETS AND GOODWIL_5

INTANGIBLE ASSETS AND GOODWILL - Goodwill (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2021USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 961,322
Measurement period adjustments	571
Effect of foreign currency translation	387
Ending balance	$ 962,280

RESTRUCTURING (Details)

RESTRUCTURING (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2021USD ($)
Restructuring Costs [Abstract]
Total restructuring expense	$ 10,853
Restructuring Reserve [Roll Forward]
Beginning balance	6,233
Severance payments and termination benefits expense	7,453
Cash payments	(8,853)
Effect of foreign currency translation	(70)
Ending balance	4,763
Severance and related benefits
Restructuring Costs [Abstract]
Total restructuring expense	7,453
Stock-based compensation
Restructuring Costs [Abstract]
Total restructuring expense	2,504
Vacated facilities
Restructuring Costs [Abstract]
Total restructuring expense	$ 896

OTHER BALANCE SHEET AMOUNTS - P

OTHER BALANCE SHEET AMOUNTS - Property and Equipment (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 102,699	$ 98,989
Less: accumulated depreciation and amortization	(77,179)	(66,718)
Total property and equipment, net	25,520	32,271
Computer equipment and software
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 68,477	66,205
Computer equipment and software | Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	1 year
Computer equipment and software | Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	6 years
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 7,133	6,580
Furniture and fixtures | Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	1 year
Furniture and fixtures | Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	7 years
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 27,089	$ 26,204
Leasehold improvements | Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	1 year
Leasehold improvements | Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	8 years

OTHER BALANCE SHEET AMOUNTS - N

OTHER BALANCE SHEET AMOUNTS - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Balance Sheet Related Disclosures [Abstract]
Depreciation expense	$ 3.6	$ 5.8	$ 8.9	$ 8.9
Commission expense benefit period on initial contacts			6 years
Commission expense benefit period on renewal contacts			3 years
Commissions expense	12.7	9.9	$ 25	19
Capitalized software costs, amount capitalized during the period	9.7	7.5	18.3	15.1
Amortization of capitalized software costs	$ 6.2	$ 6.7	$ 13.2	$ 13.9

OTHER BALANCE SHEET AMOUNTS - A

OTHER BALANCE SHEET AMOUNTS - Accrued Expenses (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Balance Sheet Related Disclosures [Abstract]
Accounts payable	$ 7,058	$ 1,424
Accrued compensation and related liabilities	54,898	76,974
Other accrued expenses and other current liabilities	56,469	51,510
Total accounts payable, accrued expenses, and other current liabilities	$ 118,425	$ 129,908

FAIR VALUE OF FINANCIAL INSTR_3

FAIR VALUE OF FINANCIAL INSTRUMENTS - Summary of Asset and Liabilities Measured at Fair Value (Detail) - Interest rate swap contracts - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swap contracts designated as cash flow hedges	$ 1,950,000	$ (885)
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swap contracts designated as cash flow hedges	0	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swap contracts designated as cash flow hedges	1,950,000	(885)
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swap contracts designated as cash flow hedges	$ 0	$ 0

FAIR VALUE OF FINANCIAL INSTR_4

FAIR VALUE OF FINANCIAL INSTRUMENTS - Additional Information (Detail) - USD ($)	6 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds, at carrying value	$ 0	$ 0
Component of AOCI expected to be realized in statements of operations over the next twelve months	(600,000)
Interest rate swap contracts | Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notional amount	$ 596,700,000
Term of derivative contract	4 years
Convertible Senior Notes At 5.75%, Maturing 2021 | Convertible notes | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of convertible debt	$ 430,000,000

FAIR VALUE OF FINANCIAL INSTR_5

FAIR VALUE OF FINANCIAL INSTRUMENTS - Income for Derivative Instruments (Details) - Interest rate swap contracts - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Other Comprehensive Loss on Derivative	$ (507)	$ 0	$ 2,302	$ 0
Interest expense
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss	$ (267)	$ 0	$ (518)	$ 0

FAIR VALUE OF FINANCIAL INSTR_6

FAIR VALUE OF FINANCIAL INSTRUMENTS - Derivative Assets and Liabilities (Details) - Interest rate swap contracts - Designated as Hedging Instrument - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Accrued expenses
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Liabilities	$ (25)	$ (40)
Other liabilities, non-current
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Liabilities	0	(845)
Prepaid expenses and other current assets
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Assets	0	0
Other assets
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Assets	$ 1,975	$ 0

STOCKHOLDERS_ EQUITY (Details)

STOCKHOLDERS’ EQUITY (Details) - USD ($)	Jun. 30, 2021	Dec. 31, 2020	Oct. 01, 2020	Jun. 30, 2020	Aug. 31, 2019
Equity [Abstract]
Common stock, shares authorized	1,000,000,000	1,000,000,000
Common stock, shares issued	66,642,159	64,926,234
Common stock, shares outstanding	66,642,159	64,926,234
Amount available for repurchase	$ 0		$ 127,600,000	$ 0	$ 150,000,000

STOCK-BASED AWARDS - Stock Opti

STOCK-BASED AWARDS - Stock Option Activity (Detail) $ / shares in Units, shares in Thousands, $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2021USD ($)$ / sharesshares	Dec. 31, 2020USD ($)$ / sharesshares
Stock Options Outstanding, Shares
Shares outstanding, beginning of period (in shares) | shares	1,819
Exercised (in shares) | shares	(249)
Forfeited (in shares) | shares	(8)
Shares outstanding, period end (in shares) | shares	1,562	1,819
Stock Options Outstanding, Weighted Average Exercise Price
Weighted-average exercise price, outstanding at beginning of period (USD per share)	$ 37.81
Weighted average exercise price, exercised (USD per share)	30.23
Weighted average exercise price, forfeited (USD per share)	53.02
Weighted-average exercise price, outstanding at end of period (USD per share)	$ 38.94	$ 37.81
Stock Options, Additional Disclosures
Weighted-average remaining contractual term, outstanding	2 years 2 months 12 days	2 years 7 months 6 days
Aggregate intrinsic value, outstanding | $	$ 20,253	$ 15,541
Exercisable at end of period (in shares) | shares	1,562
Weighted average exercise price, exercisable at end of period (USD per share)	$ 38.94
Weighted-average remaining contractual term, exercisable	2 years 2 months 12 days
Aggregate intrinsic value, exercisable at end of period | $	$ 20,253
Stock Options Vested and Expected to Vest
Vested and expected to vest at end of period (in shares) | shares	1,562
Weighted average exercise price, vested and expected to vest at end of period (USD per share)	$ 38.94
Weighted-average remaining contractual term, vested and expected to vest	2 years 2 months 12 days
Aggregate intrinsic value, vested and expected to vest at end of period | $	$ 20,253
Closing stock price (USD per share)	$ 51.58	$ 44.04

STOCK-BASED AWARDS - Additional

STOCK-BASED AWARDS - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Percent purchase price, grant date, ESPP			85.00%
Percent purchase price, exercise date, ESPP			85.00%
Number of shares issuable under plan (in shares)	4,697,036		4,697,036
Shares issued under employee stock purchase plan (in shares)			128,632	130,177
Incentive stock options
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Stock options granted (in shares)	0	0	0	0
Restricted Stock Units (RSUs)
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Unrecognized compensation expense related to non-vested restricted stock units	$ 122		$ 122
Unrecognized compensation expense, expected recognition weighted average period			2 years 3 months 18 days
Performance Shares
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Unrecognized compensation expense, expected recognition weighted average period			1 year 7 months 6 days
Unrecognized compensation expense	$ 23.5		$ 23.5

STOCK-BASED AWARDS - Restricted

STOCK-BASED AWARDS - Restricted Stock and Performance-Based Stock Units (Details) shares in Thousands	6 Months Ended
	Jun. 30, 2021$ / sharesshares
Restricted Stock Units (RSUs)
Number of Shares
Number of shares, unvested Shares at beginning of period (in shares) | shares	3,891
Number of shares, granted (in shares) | shares	1,450
Number of shares, forfeited (in shares) | shares	(346)
Number of shares, vested (in shares) | shares	(1,228)
Number of shares, unvested Shares at period end (in share) | shares	3,767
Weighted- Average Grant Date Fair Value
Weighted average grant date fair value, unvested shares at beginning of period (in usd per share) | $ / shares	$ 42.21
Weighted average grant date fair value, granted (in usd per share) | $ / shares	46.40
Weighted average grant date fair value, forfeited (in usd per share) | $ / shares	43.42
Weighted average grant date fair value, vested (in usd per share) | $ / shares	41.71
Weighted average grant date fair value, unvested shares at period end (in usd per share) | $ / shares	$ 43.85
Performance Shares
Number of Shares
Number of shares, unvested Shares at beginning of period (in shares) | shares	2,229
Number of shares, granted (in shares) | shares	519
Number of shares, forfeited (in shares) | shares	(549)
Number of shares, vested (in shares) | shares	(110)
Number of shares, unvested Shares at period end (in share) | shares	2,089
Weighted- Average Grant Date Fair Value
Weighted average grant date fair value, unvested shares at beginning of period (in usd per share) | $ / shares	$ 41.95
Weighted average grant date fair value, granted (in usd per share) | $ / shares	85.50
Weighted average grant date fair value, forfeited (in usd per share) | $ / shares	40.22
Weighted average grant date fair value, vested (in usd per share) | $ / shares	40.60
Weighted average grant date fair value, unvested shares at period end (in usd per share) | $ / shares	$ 53.29

STOCK-BASED AWARDS - Stock-Base

STOCK-BASED AWARDS - Stock-Based Compensation Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Share based compensation expense	$ 18,526	$ 14,103	$ 38,008	$ 37,273
Cost of revenue
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Share based compensation expense	2,261	2,122	4,317	4,823
Sales and marketing
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Share based compensation expense	5,393	5,628	11,690	14,212
Research and development
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Share based compensation expense	3,357	2,724	7,412	7,524
General and administrative
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Share based compensation expense	6,212	3,421	12,085	10,506
Restructuring
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Share based compensation expense	$ 1,303	$ 208	$ 2,504	$ 208

INCOME TAXES (Detail)

INCOME TAXES (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Income tax (provision) benefit	$ (2,267)	$ 29,114	$ (96)	$ 28,943
Effective income tax (in percent)	119.60%	70.80%	(0.80%)	52.90%

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) - USD ($) $ in Millions	1 Months Ended
	Mar. 31, 2020	Jun. 30, 2021	Dec. 31, 2020
Other Commitments [Line Items]
Term of contract obligation	7 years
Contractual obligation		$ 73.5
Letter of Credit | Other Contractual Arrangements
Other Commitments [Line Items]
Letters of credit outstanding		$ 8.8	$ 8.9

LEASES - Components of Lease Ex

LEASES - Components of Lease Expense (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Lessee, Lease, Description [Line Items]
Operating lease cost	$ 10,493	$ 8,843
Sublease income	(901)	(2,044)
Net lease cost	$ 9,592	$ 6,799
Minimum
Lessee, Lease, Description [Line Items]
Optional extension period	1 year
Maximum
Lessee, Lease, Description [Line Items]
Remaining ​lease​ terms	9 years
Optional extension period	5 years

LEASES - Supplemental Cash Flow

LEASES - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Leases [Abstract]
Cash paid for operating leases	$ 7,471	$ 6,402
Right-of-use assets obtained in exchange for lease obligations	$ 0	$ 17,762

LEASES - Supplemental Balance S

LEASES - Supplemental Balance Sheet Information of Operating Leases (Details)	Jun. 30, 2021	Dec. 31, 2020
Leases [Abstract]
Weighted-average remaining lease term	4 years 10 months 24 days	5 years 2 months 12 days
Weighted-average incremental borrowing rate	3.70%	3.50%

LEASES - Maturities of Operatin

LEASES - Maturities of Operating Lease Liabilities (Details) $ in Thousands	Jun. 30, 2021USD ($)
Leases [Abstract]
2021 – remaining period	$ 6,474
2022	20,258
2023	19,132
2024	9,760
2025	8,251
Thereafter	14,742
Total lease payments	78,617
Less: Imputed interest	(7,119)
Present value of operating lease liabilities	$ 71,498

REVENUE, DEFERRED REVENUE, AN_3

REVENUE, DEFERRED REVENUE, AND REMAINING PERFORMANCE OBLIGATIONS - Sources of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Segment Reporting Information [Line Items]
Total revenue	$ 214,343	$ 184,358	$ 423,616	$ 334,494
Subscription revenue
Segment Reporting Information [Line Items]
Total revenue	206,821	177,217	407,405	321,638
Professional services revenue
Segment Reporting Information [Line Items]
Total revenue	$ 7,522	$ 7,141	$ 16,211	$ 12,856

REVENUE, DEFERRED REVENUE, AN_4

REVENUE, DEFERRED REVENUE, AND REMAINING PERFORMANCE OBLIGATIONS - Revenue by Geographic Area (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Segment Reporting Information [Line Items]
Total revenue	$ 214,343	$ 184,358	$ 423,616	$ 334,494
United States
Segment Reporting Information [Line Items]
Total revenue	129,461	119,385	256,653	217,303
All other countries
Segment Reporting Information [Line Items]
Total revenue	$ 84,882	$ 64,973	$ 166,963	$ 117,191

REVENUE, DEFERRED REVENUE, AN_5

REVENUE, DEFERRED REVENUE, AND REMAINING PERFORMANCE OBLIGATIONS - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Segment Reporting Information [Line Items]
Revenue recognized	$ 187.9	$ 138.6	$ 318.1	$ 243.2
Revenue expected to be recognized from remaining obligations	$ 1,177		$ 1,177
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-07-01
Segment Reporting Information [Line Items]
Percentage of revenue expected to be recognized.	70.00%		70.00%
Period within obligations expected to be recognized (in months)	18 months		18 months

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Related Party Transactions [Abstract]
Services provided to related party at no charge	$ 0.8	$ 0.7	$ 1.6	$ 1.8

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - $ / shares	Aug. 05, 2021	Jun. 30, 2021	Dec. 31, 2020
Subsequent Event [Line Items]
Common stock, par value (USD per share)		$ 0.0001	$ 0.0001
Subsequent Event
Subsequent Event [Line Items]
Common stock, par value (USD per share)	$ 0.0001
Subsequent Event | Sunshine Software
Subsequent Event [Line Items]
Consideration on sale of stock (in dollars per share)	$ 57.50