HubSpot (HUBS) 10-Q 3 Nov 21 2021 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2021	Oct. 29, 2021
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Trading Symbol	HUBS
Entity Registrant Name	HubSpot, Inc.
Entity Central Index Key	0001404655
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false
Title of 12(b) Security	Common Stock, par value $0.001 per share
Security Exchange Name	NYSE
Entity File Number	001-36680
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	20-2632791
Entity Address, Address Line One	25 First Street
Entity Address, City or Town	Cambridge
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	02141
City Area Code	888
Local Phone Number	482-7768
Document Quarterly Report	true
Document Transition Report	false
Entity Common Stock, Shares Outstanding		47,249,897

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 288,334	$ 378,123
Short-term investments	882,340	873,073
Accounts receivable - net of allowance for doubtful accounts of $1,441 and $1,993 at September 30, 2021 and December 31, 2020, respectively	126,673	126,433
Deferred commission expense	57,475	44,576
Prepaid expenses and other current assets	56,242	34,716
Total current assets	1,411,064	1,456,921
Long-term investments	114,738	30,697
Property and equipment, net	94,727	101,123
Capitalized software development costs, net	37,982	24,943
Right-of-use assets	285,273	275,893
Deferred commission expense, net of current portion	37,642	28,296
Other assets	25,570	13,893
Intangible assets, net	11,075	10,282
Goodwill	47,404	31,318
Total assets	2,065,475	1,973,366
Current liabilities:
Accounts payable	1,944	13,540
Accrued compensation costs	64,319	44,054
Accrued expenses and other current liabilities	64,691	37,184
Convertible senior notes	21,269	7,837
Operating lease liabilities	25,216	30,020
Deferred revenue	372,381	312,866
Total current liabilities	549,820	445,501
Operating lease liabilities, net of current portion	289,536	279,664
Deferred revenue, net of current portion	3,498	3,636
Other long-term liabilities	11,833	10,811
Convertible senior notes	378,795	471,099
Total liabilities	1,233,482	1,210,711
Commitments and contingencies (Note 11)
Stockholders’ equity:
Common stock	47	46
Additional paid-in capital	1,375,982	1,241,167
Accumulated other comprehensive loss	591	4,603
Accumulated deficit	(544,627)	(483,161)
Total stockholders’ equity	831,993	762,655
Total liabilities and stockholders’ equity	$ 2,065,475	$ 1,973,366

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Accounts receivable, net of allowance for doubtful accounts	$ 1,441	$ 1,993

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Revenues:
Total revenue	$ 339,195	$ 228,385	$ 931,349	$ 630,961
Cost of revenues:
Total cost of revenues	69,606	42,603	187,218	119,664
Gross profit	269,589	185,782	744,131	511,297
Operating expenses:
Research and development	78,473	54,456	218,973	150,026
Sales and marketing	170,016	119,299	468,836	324,230
General and administrative	36,027	27,488	102,883	80,228
Total operating expenses	284,516	201,243	790,692	554,484
Loss from operations	(14,927)	(15,461)	(46,561)	(43,187)
Other expense:
Interest income	230	958	1,046	7,150
Interest expense	(7,798)	(7,062)	(24,376)	(29,823)
Other income (expense)	9,877	(7)	11,064	(1,152)
Total other income (expense)	2,309	(6,111)	(12,266)	(23,825)
Loss before income tax expense	(12,618)	(21,572)	(58,827)	(67,012)
Income tax expense	(1,117)	(926)	(2,639)	(2,603)
Net loss	$ (13,735)	$ (22,498)	$ (61,466)	$ (69,615)
Net loss per share, basic and diluted	$ (0.29)	$ (0.49)	$ (1.31)	$ (1.57)
Weighted average common shares used in computing basic and diluted net loss per share:	47,044	45,627	46,752	44,346
Subscription [Member]
Revenues:
Total revenue	$ 328,975	$ 221,058	$ 899,661	$ 608,702
Cost of revenues:
Total cost of revenues	57,547	33,181	152,533	93,316
Professional Services and Other [Member]
Revenues:
Total revenue	10,220	7,327	31,688	22,259
Cost of revenues:
Total cost of revenues	$ 12,059	$ 9,422	$ 34,685	$ 26,348

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Statement of Comprehensive Income [Abstract]
Net loss	$ (13,735)	$ (22,498)	$ (61,466)	$ (69,615)
Other comprehensive loss:
Foreign currency translation adjustment	(1,600)	2,049	(3,555)	2,132
Changes in unrealized (loss) gain on investments, net of income taxes of ($1) and ($44) for the three and nine months ended September 30, 2021, and ($15) and ($91) for the three and nine months ended September 30, 2020	(37)	(279)	(457)	435
Comprehensive loss	$ (15,372)	$ (20,728)	$ (65,478)	$ (67,048)

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Loss (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Statement of Comprehensive Income [Abstract]
Changes in unrealized (loss) gain on investments, income taxes	$ (1)	$ (15)	$ (44)	$ (91)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Operating Activities:
Net loss	$ (61,466)	$ (69,615)
Adjustments to reconcile net loss to net cash and cash equivalents provided by operating activities, net of acquisitions
Depreciation and amortization	33,188	27,067
Stock-based compensation	120,847	90,022
Loss on early extinguishment of 2022 Convertible Notes	4,824	10,493
Repayment of 2022 Convertible Notes attributable to the debt discount	(24,457)	(48,675)
Gain on termination of operating leases	(4,276)
Loss on disposal of fixed assets	6,468
Gain on strategic investments	(11,739)
Benefit from deferred income taxes	(1,321)	(736)
Amortization of debt discount and issuance costs	18,115	18,188
Amortization (accretion) of bond discount	2,943	(3,716)
Unrealized currency translation	603	(121)
Changes in assets and liabilities
Accounts receivable	(2,249)	(380)
Prepaid expenses and other assets	(7,149)	(22,596)
Deferred commission expense	(24,371)	(11,351)
Right-of-use assets	26,948	22,582
Accounts payable	(11,951)	3,070
Accrued expenses and other liabilities	38,184	13,780
Operating lease liabilities	(26,422)	(21,516)
Deferred revenue	66,825	21,492
Net cash and cash equivalents provided by operating activities	143,544	27,988
Investing Activities:
Purchases of investments	(1,037,331)	(1,377,442)
Maturities of investments	940,776	1,013,270
Sale of investments		10,932
Purchases of property and equipment	(17,399)	(27,753)
Acquisition of a business, net of cash acquired	(16,810)
Purchases of strategic investments	(10,202)	(2,000)
Equity method investment	(3,100)
Capitalization of software development costs	(25,638)	(15,644)
Net cash and cash equivalents used in investing activities	(169,704)	(398,637)
Financing Activities:
Proceeds from settlement of Convertible Note Hedges related to the 2022 Convertible Notes	729	362,492
Proceeds from issuance of 2025 Convertible Notes, net of issuance costs paid of $9.9 million		450,123
Payments for settlement of Warrants related to the 2022 Convertible Notes		(327,543)
Repayment of 2022 Convertible Notes attributable to the principal	(80,428)	(234,366)
Payments for Capped Call Options related to the 2025 Convertible Notes		(50,600)
Employee taxes paid related to the net share settlement of stock-based awards	(11,728)	(4,637)
Proceeds related to the issuance of common stock under stock plans	34,124	22,256
Repayments of finance lease obligations		(28)
Net cash and cash equivalents (used in) provided by financing activities	(57,303)	217,697
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	(6,326)	2,361
Net increase in cash, cash equivalents and restricted cash	(89,789)	(150,591)
Cash, cash equivalents and restricted cash, beginning of period	381,152	278,515
Cash, cash equivalents and restricted cash, end of period	291,363	127,924
Supplemental cash flow disclosure:
Cash paid for interest	948	508
Cash paid for income taxes	5,340	2,849
Right-of-use assets obtained in exchange for operating lease liabilities	89,691	65,013
Right-of-use asset reductions related to operating lease terminations	(46,587)
Non-cash investing and financing activities:
Issuance of common stock for repayment of 2022 Convertible Notes	480,955	330,497
Capital expenditures incurred but not yet paid	3,683	1,270
Asset retirement obligations	$ 71	$ 699

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows (Parenthetical) $ in Millions	9 Months Ended
	Sep. 30, 2021USD ($)
Statement of Cash Flows [Abstract]
Convertible notes, issuance costs	$ 9.9

Organization and Operations

Organization and Operations	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Organization and Operations	1. Organization and Operations HubSpot, Inc. (the “Company”) provides a cloud-based customer relationship management (“CRM”) Platform, that enables companies to attract, engage, and delight customers throughout the customer experience. The Company’s CRM Platform comprised of Marketing Hub, Sales Hub, Service Hub, content management system ("CMS") Hub and Operations Hub features integrated applications and tools that enable businesses to create a cohesive and adaptable customer experience. The accompanying unaudited consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) applicable to interim periods, under the rules and regulations of the United States Securities and Exchange Commission (“SEC”). In the opinion of management, the Company has prepared the accompanying unaudited consolidated financial statements on a basis substantially consistent with the audited consolidated financial statements of the Company as of and for the year ended December 31, 2020, and these consolidated financial statements include all adjustments, consisting only of normal recurring adjustments, necessary for a fair statement of the results of the interim periods presented. All intercompany balances and transactions have been eliminated in consolidation. The results of operations for the interim periods presented are not necessarily indicative of the results to be expected for any subsequent quarter or for the entire year ending December 31, 2021. The year-end balance sheet data was derived from audited financial statements, but this Form 10-Q does not include all disclosures required under GAAP. Certain information and note disclosures normally included in annual financial statements prepared in accordance with GAAP have been omitted under the rules and regulations of the SEC. These interim financial statements should be read in conjunction with the audited consolidated financial statements and related notes contained in the Company’s Annual Report on Form 10-K filed with the SEC on February 16, 2021. There have been no changes in the Company’s significant accounting policies from those that were disclosed in the Company’s Annual Report on Form 10-K that have had a material impact on our consolidated financial statements and related notes. In March 2020, the World Health Organization (“WHO”) declared the outbreak of a disease caused by a novel strain of the coronavirus (“COVID-19”) to be a global pandemic (the “pandemic”). The Company has assessed the impact of the pandemic, and while the broader implications of the pandemic on the results of operations and overall financial performance remain uncertain, the Company assessed the potential impact on the September 30, 2021 financial statements and determined there were no material adjustments necessary with respect to these consolidated financial statements. In March 2020, the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act was signed into law by the United States. The CARES Act provides a substantial stimulus and assistance package intended to address the impact of the pandemic, including tax relief and government loans, grants, and investments. In June 2020, the Jobs Support Scheme (“JSS”) was announced by the Singapore government to provide support to employers and help enterprises retain their local employees during the pandemic. In March 2021, the American Rescue Plan was passed to build upon the measures in the CARES Act and provide direct relief to those impacted by the pandemic. The CARES Act, the JSS and the American Rescue Plan did not have a material impact with respect to these consolidated financial statements. Recent Accounting Pronouncements Recent accounting standards not included below are not expected to have a material impact on our consolidated financial position and results of operations. In August 2020, the FASB issued guidance simplifying the accounting for convertible instruments by reducing the number of accounting models for convertible debt instruments and convertible preferred stock. Limiting the accounting models results in fewer embedded conversion features being bifurcated from the host contract and separately recognized as compared with current GAAP. In addition, it eliminates the treasury stock method for calculating diluted earnings per share for convertible instruments and requires the use of the if-converted method. The new standard will be effective for the Company on January 1, 2022, with early adoption permitted. The Company will adopt the standard on January 1, 2022 and currently anticipates adopting the standard using the modified retrospective method, which would result in a cumulative effect adjustment as of the date of adoption. The Company has established a team that is continuing to assess the potential impacts of the standard on its consolidated financial statements and footnote disclosures. The Company currently believes the most significant changes will be related to the recognition of additional convertible senior notes on its consolidated balance sheet. The Company expects interest expense to decrease as it eliminates non-cash interest expense due to the discount created by the separation of the equity component. The Company will also need to assume share settlement of the entire convertible debt instrument under the if-converted method therefore increasing the potentially dilutive common stock equivalents. These changes are being evaluated to determine the potential impact to the financial statements and disclosures.

Revenues

Revenues	9 Months Ended
	Sep. 30, 2021
Revenue from Contract with Customer [Abstract]
Revenues	2. Revenues Disaggregation of Revenue The Company provides disaggregation of revenue based on geographic region (Note 16) and based on the subscription versus professional services and other classification on the consolidated statements of operations as it believes these best depict how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors. Deferred Revenue and Deferred Commission Expense Amounts that have been invoiced are recorded in accounts receivable and deferred revenue or revenue, depending on whether the revenue recognition criteria have been met. Deferred revenue represents amounts billed for which revenue has not yet been recognized. Deferred revenue that will be recognized during the succeeding 12-month period is recorded as current deferred revenue, and the remaining portion is recorded as long-term deferred revenue. Deferred revenue during the nine months ended September 30, 2021 increased by $ 59.4 million resulting from $ 398.6 million of additional invoicing and was offset by revenue recognized of $ 339.2 million during the same period. $ 198.9 million of revenue was recognized during the three months ended September 30, 2021 that was included in deferred revenue at the beginning of the period. $ 289.8 million of revenue was recognized during the nine months ended September 30, 2021 that was included in deferred revenue at the beginning of the period. As of September 30, 2021, approximately $ 329.7 million of revenue is expected to be recognized from remaining performance obligations for contracts with original performance obligations that exceed one year . The Company expects to recognize revenue on approximately 93 % of these remaining performance obligations over the next 24 months , with the balance recognized thereafter. Additional contract liabilities of $ 2.0 million and $ 1.7 were included in accrued expenses and other current liabilities on the consolidated balance sheet as of September 30, 2021 and December 31, 2020. The incremental direct costs of obtaining a contract, which primarily consist of sales commissions paid for new subscription contracts, are deferred and amortized on a straight-line basis over a period of approximately one to three years. The one to three-year period has been determined by taking into consideration the type of product sold, the commitment term of the customer contract, the nature of the Company’s technology development life-cycle, and an estimated customer relationship period. Sales commissions for upgrade contracts are deferred and amortized on a straight-line basis over the remaining estimated customer relationship period of the related customer. Deferred commission expense that will be recorded as expense during the succeeding 12-month period is recorded as current deferred commission expense, and the remaining portion is recorded as long-term deferred commission expense. Deferred commission expense during the three months ended September 30, 2021 increased by $ 6.9 million as a result of deferring incremental costs of obtaining a contract of $ 24.3 million and was offset by amortization of $ 17.4 million during the same period. Deferred commission expense during the nine months ended September 30, 2021 increased by $ 22.2 million as a result of deferring incremental costs of obtaining a contract of $ 70.9 million and was offset by amortization of $ 48.7 million during the same period.

Net Loss per Share

Net Loss per Share	9 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
Net Loss per Share	3. Net Loss per Share Basic net loss per share is computed by dividing net loss by the weighted average number of common shares outstanding for the period. Diluted net loss per share is computed by giving effect to all potential dilutive common stock equivalents outstanding for the period. For purposes of this calculation, options to purchase common stock, restricted stock units (“RSUs”), shares issued pursuant to the Employee Stock Purchase Plan (“ESPP”), the Warrants (defined in Note 9), the Conversion Option of the 2022 Notes, and the Conversion Option of the 2025 Notes (the “Conversion Options”) (Note 9) are considered to be potential common stock equivalents. A reconciliation of the denominator used in the calculation of basic and diluted net loss per share is as follows: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Net loss $ ( 13,735 ) $ ( 22,498 ) $ ( 61,466 ) $ ( 69,615 ) Weighted-average common shares outstanding — basic 47,044 45,627 46,752 44,346 Dilutive effect of share equivalents resulting from — — — — Weighted-average common shares, outstanding — diluted 47,044 45,627 46,752 44,346 Net loss per share, basic and diluted $ ( 0.29 ) $ ( 0.49 ) $ ( 1.31 ) $ ( 1.57 ) Since the Company incurred net losses for each of the periods presented, diluted net loss per share is the same as basic net loss per share. All of the Company’s outstanding stock options, RSUs, and shares issuable under the ESPP, as well as the Warrants and Conversion Options were excluded in the calculation of diluted net loss per share as the effect would be anti-dilutive. The Company expects to settle the principal amount of the 2022 Notes and 2025 Notes (collectively, the “Notes”) (Note 9) in cash, and therefore, the Company uses the treasury stock method for calculating any potential dilutive effect of the Warrants and Conversion Options on diluted net income per share, if applicable. As a result, only the amount by which the conversion cost of the Notes, if settled in shares, exceeds the aggregated principal amount of the Notes (the “Conversion Spread”) is considered in the diluted earnings per share computation. The Conversion Spread has a dilutive impact on net income per share when the average market price of the Company’s common stock for a given period of time exceeds the initial conversion price of $ 94.77 per share for the 2022 Notes and $ 282.52 for the 2025 Notes. The average stock price for the three months ended September 30, 2021 was $ 644.26 and for the nine months ended September 30, 2021 was $ 536.66 . As the last reported sale price of the Company’s common stock for at least 20 trading days during the period of 30 consecutive trading days ending on the last trading day of the calendar quarter ended September 30, 2021 was equal to or greater than 130 % of the conversion price of $ 94.77 on each applicable trading day, the 2022 Notes are convertible at the option of the holders thereof during the calendar quarter ended December 31, 2021. In the third quarter of 2021, the Company settled $ 46.4 million of the principal balance of the 2022 Notes in cas h. As of October 29, 2021, the Company has received conversion notices for approximately $ 2.8 million of the principal balance of the 2022 Notes, which will be settled in cash during the quarter ended December 31, 2021. For disclosure purposes, the potentially dilutive effect of the Conversion Spread is calculated and included in the table below. As the last reported sale price of the Company’s common stock for at least 20 trading days during the period of 30 consecutive trading days ending on the last trading day of the calendar quarter ended September 30, 2021 was equal to or greater than 130 % of the conversion price of $ 282.52 on each applicable trading day, the 2025 Notes are convertible at the option of the holders thereof during the calendar quarter ended December 31, 2021. As of October 29, 2021, the Company has not received any material conversion notices for the 2025 Notes. For disclosure purpo ses, the potentially dilutive effect of the Conversion Spread is calculated and included in the table below. The following table contains all potentially dilutive common stock equivalents. As of September 30, 2021 2020 (in thousands) Options to purchase common shares 717 1,170 RSUs 1,409 1,726 Conversion Option of the 2022 Notes and Warrants 1,721 1,614 Conversion Option of the 2025 Notes 747 — ESPP 8 17

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	4. Fair Value of Financial Instruments The Company measures certain financial assets at fair value. Fair value is determined based upon the exit price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants, as determined by either the principal market or the most advantageous market. Inputs used in the valuation techniques to derive fair values are classified based on a three-level hierarchy, as follows:  Level 1 — Quoted prices in active markets for identical assets or liabilities.  Level 2 — Observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which all significant inputs are observable or can be derived principally from or corroborated by observable market data for substantially the full term of the assets or liabilities.  Level 3 — Unobservable inputs to the valuation methodology that are significant to the measurement of fair value of assets or liabilities. The following table details the fair value measurements within the fair value hierarchy of the Company’s financial assets and liabilities at September 30, 2021 and December 31, 2020: September 30, 2021 Level 1 Level 2 Level 3 Total (in thousands) Cash equivalents and investments: Money market funds $ 76,199 $ — $ — $ 76,199 Commercial paper — 129,480 — 129,480 Corporate bonds — 240,608 — 240,608 U.S. Government agency securities — 6,800 — 6,800 U.S. Treasury securities — 663,189 — 663,189 Restricted cash: Money market funds — 3,029 — 3,029 Total $ 76,199 $ 1,043,106 $ — $ 1,119,305 December 31, 2020 Level 1 Level 2 Level 3 Total (in thousands) Cash equivalents and investments: Money market funds $ 172,485 $ — $ — $ 172,485 Commercial paper — 12,233 — 12,233 Corporate bonds — 116,371 — 116,371 U.S. Treasury securities — 774,772 — 774,772 Certificates of deposit 394 — 394 Restricted cash: Money market funds — 3,029 — 3,029 Total $ 172,485 $ 906,799 $ — $ 1,079,284 The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. The fair value of the Company’s investments in certain money market funds is their face value and such instruments are classified as Level 1 and are included in cash and cash equivalents on the consolidated balance sheets. At September 30, 2021 and December 31, 2020, Level 2 securities were priced by pricing vendors. These pricing vendors utilize the most recent observable market information in pricing these securities or, if specific prices are not available for these securities, use other observable inputs like market transactions involving identical or comparable securities. As of September 30, 2021, the fair value of the 2022 Notes was $ 158.3 million and the fair value of the 2025 Notes was $ 1.1 billion . The fair value was determined based on the quoted price of the 2022 and 2025 Notes in an inactive market on the last trading day of the reporting period and has been classified as Level 2 within the fair value hierarchy. For certain other financial instruments, including accounts receivable, accounts payable, and other current liabilities, the carrying amounts approximate their fair value due to the relatively short maturity of these balances. Restricted cash is comprised of money market funds related to landlord guarantees for leased facilities. These restricted cash balances have been excluded from our cash and cash equivalents balance on our consolidated balance sheets. Strategic investments consist of non-controlling equity investments in privately held companies. The Company elected the measurement alternative for these investments without readily determinable fair values and for which the Company does not have the ability to exercise significant influence. These investments are accounted for under the cost method of accounting. Under the cost method of accounting, the non-marketable equity securities are carried at cost less any impairment, plus or minus adjustments resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer, which is recorded within the statement of operations. The Company holds $ 15.3 million of strategic investments without readily determinable fair values at September 30, 2021 and $ 6.7 million of strategic investments without readily determinable fair values at December 31, 2020. These investments are included in prepaid and other current assets and other assets on the consolidated balance sheets. During the nine months ended September 30, 2021, two strategic investments had observable price changes and adjusted the fair value of these investments. The Company recognized a gain of $ 10.7 million in the three months ended September 30, 2021 and $ 11.7 million in the nine months ended September 30, 2021. The gains are reported in the consolidated statements of operations as other income. Th ere were no other adjustments to the carrying value of the strategic investments resulting from impairments or observable price changes in the nine months ended September 30, 2021. The following tables summarize the composition of our short- and long-term investments at September 30, 2021 and December 31, 2020. September 30, 2021 Amortized Unrealized Unrealized Aggregate (in thousands) Commercial paper 104,481 — — 104,481 Corporate bonds 240,626 69 ( 87 ) 240,608 U.S. Government agency securities 6,803 — ( 3 ) 6,800 U.S. Treasury securities 645,201 6 ( 18 ) 645,189 Total 997,111 75 ( 108 ) 997,078 December 31, 2020 Amortized Unrealized Unrealized Aggregate (in thousands) Commercial paper $ 12,233 $ — $ — $ 12,233 Corporate bonds 115,983 427 ( 39 ) 116,371 U.S. Treasury securities 774,667 105 — 774,772 Certificates of deposit 394 — — 394 Total $ 903,277 $ 532 $ ( 39 ) $ 903,770 For all of our securities for which the amortized cost basis was greater than the fair value at September 30, 2021, the Company has concluded that there is no plan to sell the security nor is it more likely than not that the Company would be required to sell the security before its anticipated recovery. In making the determination as to whether the unrealized loss is other-than-temporary, the Company considered the length of time and extent the investment has been in an unrealized loss position, the financial condition and near-term prospects of the issuers, the issuers’ credit rating and the time to maturity. Contractual Maturities The contractual maturities of short-term and long-term investments held at September 30, 2021 and December 31, 2020 are as follows: September 30, 2021 December 31, 2020 Amortized Aggregate Amortized Aggregate (in thousands) (in thousands) Due within one year $ 882,343 $ 882,340 $ 872,637 $ 873,073 Due after 1 year through 2 years 114,768 114,738 30,640 30,697 Total $ 997,111 $ 997,078 $ 903,277 $ 903,770

Equity method investment

Equity method investment	9 Months Ended
	Sep. 30, 2021
Equity Method Investments and Joint Ventures [Abstract]
Equity method investment	5. Equity method investment In the first nine months of 2021, the Company made contributions of $ 3.1 million in cash in the Black Economic Development Fund (the “Fund”) managed by the Local Initiatives Support Corporation for an aggregate of 5.0 % ownership interest and income share in the Fund. The Company has commitments to contribute additional capital of $ 9.4 million to the Fund over the next three years. Given the level of ownership interest in the Fund, which is a limited liability company, and the fact that the Fund maintains specific ownership accounts for investors, the Company accounts for this investment using the equity method of accounting. The Fund is included in other assets on the consolidated balance sheets and the Company's share of the Fund’s net earnings and impairment charges on investments are reported in the consolidated statements of operations as other income (expense), net of tax. The Company's proportionate share of the Fund's net loss of $ 0.1 million for the three months ended September 30, 2021 and $ 0.2 million for the nine months ended September 30, 2021 was recorded as other expense, net of tax, in the consolidated statements of operations. As of September 30, 2021 , the carrying amount of the Company’s investment in the Fund was $ 2.9 million.

Restricted cash

Restricted cash	9 Months Ended
	Sep. 30, 2021
Cash and Cash Equivalents [Abstract]
Restricted cash	6. Restricted cash The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the consolidated balance sheets that sum to the total of the same such amounts shown in the statement of cash flows for the three months ended September 30, 2021 and 2020. September 30, 2021 September 30, 2020 December 31, 2020 (in thousands) Cash and cash equivalents $ 288,334 $ 124,895 $ 378,123 Restricted cash, included in other assets 3,029 3,029 3,029 Total cash, cash equivalents, and restricted cash $ 291,363 $ 127,924 $ 381,152

Property and Equipment, Net

Property and Equipment, Net	9 Months Ended
	Sep. 30, 2021
Property, Plant and Equipment [Abstract]
Property and Equipment, Net	7. Property and Equipment, Net Property and equipment, net consists of the following: September 30, 2021 December 31, 2020 (in thousands) Computer equipment and purchased software $ 15,184 $ 15,128 Employee related computer equipment 28,267 20,802 Furniture and fixtures 20,217 20,204 Leasehold improvements 91,245 89,850 Internal-use software 18,678 12,528 Construction in progress 2,251 10,014 Total property and equipment 175,842 168,526 Less accumulated depreciation ( 81,115 ) ( 67,403 ) Property and equipment, net $ 94,727 $ 101,123 Depreciation and amortization expense on property and equipment was $ 5.9 million for the three months ended September 30, 2021, $ 17.9 million for the nine months ended September 30, 2021, $ 5.5 million for the three months ended September 30, 2020 and $ 15.1 million for the nine months ended September 30, 2020. Refer to Note 10 regarding the disposal of certain property and equipment associated with a lease termination.

Capitalized Software Developmen

Capitalized Software Development Costs	9 Months Ended
	Sep. 30, 2021
Research and Development [Abstract]
Capitalized Software Development Costs	8. Capitalized Software Development Costs Capitalized software development costs, exclusive of those recorded within property and equipment, consisted of the following: September 30, 2021 December 31, 2020 (in thousands) Gross capitalized software development costs $ 113,559 $ 85,630 Accumulated amortization ( 75,577 ) ( 60,687 ) Capitalized software development costs, net $ 37,982 $ 24,943 These capitalized software development costs are associated with software developed for customer purchase. Capitalized software development costs recorded within property and equipment are associated with software developed for Company use. Amortization of capitalized software development costs, exclusive of costs recorded within property and equipment, was $ 6.1 million for the three months ended September 30, 2021, $ 16.3 million for the nine months ended September 30, 2021, $ 4.1 million for three months ended September 30, 2020, and $ 11.3 million for the nine months ended September 30, 2020 .

Convertible Senior Notes

Convertible Senior Notes	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Convertible Senior Notes	9. Convertible Senior Notes 2025 Convertible Senior Notes and Capped Call Options In June 2020, the Company issued $ 400 million aggregate principal amount of 0.375 % convertible senior notes due June 1, 2025 (the “2025 Notes”) in a private offering and an additional $ 60 million aggregate principal amount of the 2025 Notes pursuant to the exercise in full of the over-allotment options of the initial purchasers. Each $ 1,000 of principal amount of the 2025 Notes will initially be convertible into 3.5396 shares of the Company’s common stock (the “Conversion Option of the 2025 Notes”), which is equivalent to an initial conversion price of approximately $ 282.52 per share, subject to adjustment upon the occurrence of certain specified events. On or after March 1, 2025 until the close of business on the second scheduled trading day immediately preceding the maturity date, holders may convert their 2025 Notes at any time. The 2025 Notes will be convertible at the option of the holders prior to the close of business on the business day immediately preceding March 1, 2025 under certain circumstances as described in the indenture governing the 2025 Notes (the “Indenture”). Upon conversion, the Company will pay or deliver, as the case may be, cash, shares of the Company’s common stock or a combination of cash and shares of the Company’s common stock, at the Company’s election. The Company expects to settle the principal amount of the 2025 Notes in cash. Because the last reported sale price of the Company’s common stock for at least 20 trading days during the period of 30 consecutive trading days ending on the last trading day of the calendar quarter ended September 30, 2021 was equal to or greater than 130 % of the applicable conversion price on each applicable trading day, the 2025 Notes are convertible at the option of the holders thereof during the calendar quarter ending December 31, 2021. As of October 29, 2021, the Company has not received any material conversion notices for the 2025 Notes. The net carrying amount of the liability component of the 2025 Notes is as follows: As of September 30, 2021 As of December 31, 2020 (in thousands) Principal $ 460,000 $ 460,000 Unamortized debt discount ( 75,291 ) ( 88,756 ) Unamortized issuance costs ( 5,914 ) ( 6,973 ) Net carrying amount $ 378,795 $ 364,271 The net carrying amount of the equity component of the 2025 Notes is as follows: As of September 30, 2021 As of December 31, 2020 (in thousands) Debt discount for conversion option $ 98,730 $ 98,730 Issuance costs ( 2,120 ) ( 2,120 ) Net carrying amount $ 96,610 $ 96,610 Interest expense related to the 2025 Notes is as follows: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 (in thousands) Contractual interest expense $ 431 $ 431 $ 1,294 $ 556 Amortization of debt discount 4,573 4,320 13,474 5,538 Amortization of issuance costs 359 339 1,059 435 Total interest expense $ 5,363 $ 5,090 $ 15,827 $ 6,529 In connection with the offering of the 2025 Notes, the Company purchased capped call options (“Capped Call Options”) with respect to its common stock for $ 50.6 million. The Capped Call Options are purchased call options that give the Company the option to purchase up to approximately 1.6 million shares of its common stock for $ 282.52 per share, which corresponds to the approximate initial conversion price of the 2025 Notes. The Capped Call Options were purchased in order to offset potential dilution to the Company’s common stock upon any conversion of the 2025 Notes, subject to a cap of $ 426.44 per share, and expire concurrently with the 2025 Notes. The $ 50.6 million paid for the Capped Call Options are recorded in stockholders’ equity as a reduction in additional paid-in capital and are not accounted for as separate derivative financial instruments. 2022 Convertible Senior Notes, Convertible Note Hedge and Warrant In May 2017, the Company issued $ 350 million aggregate principal amount of 0.25 % convertible senior notes due June 1, 2022 in a private offering and an additional $ 50 million aggregate principal amount of such notes pursuant to the exercise in full of the over-allotment options of the initial purchasers (the “2022 Notes”). Each $ 1,000 principal amount of the 2022 Notes will initially be convertible into 10.5519 shares of the Company’s common stock (the “Conversion Option of the 2022 Notes”), which is equivalent to a conversion price of approximately $ 94.77 per share, under certain circumstances, subject to adjustment upon the occurrence of specified events. On or after February 1, 2022 until the close of business on the second scheduled trading day immediately preceding the maturity date, holders may convert their notes at any time. The 2022 Notes are convertible at the option of the holders prior to the close of business on the business day immediately preceding February 1, 2022 under certain circumstances. Upon conversion, the Company will pay or deliver, as the case may be, cash, shares of the Company’s common stock or a combination of cash and shares of the Company’s common stock, at the Company’s election. The Company expects to settle the principal amount of the 2022 Notes in cash. Because the last reported sale price of the Company’s common stock for at least 20 trading days during the period of 30 consecutive trading days ending on the last trading day of the calendar quarter ended September 30, 2021 was equal to or greater than 130 % of the applicable conversion price on each applicable trading day, the 2022 Notes are convertible at the option of the holders thereof during the calendar quarter ending December 31, 2021 . In the third quarter of 2021, the Company settled $ 46.4 million of principal balance of the 2022 Notes in cash. The Company compared the consideration attributed to the fair value of the debt component with the carrying value of the d ebt component, which includes the proportionate amounts of the unamortized debt discount and the remaining unamortized debt issuance costs and recorded a loss on early extinguishment of $ 1.7 million for the three months ended September 30, 2021 and $ 4.8 million for th e nine months ended September 30, 2021 within interest expense on the Company’s statements of operations. As of October 29, 2021, the Company has received conversion notices for approximately $ 2.8 million of the principal balance of the 2022 Notes, which will be settled in cash during the quarter ended December 31, 2021. The 2022 Notes are classified as short-term debt and the equity component of the 2022 Notes is classified as additional paid-in capital. As of September 30, 2021 , $ 22.2 million of principal remains outstanding on the 2022 Notes. In connection with the offering of the 2022 Notes, the Company entered into convertible note hedge transactions (the “Convertible Note Hedges”) with certain counterparties in which the Company has the option to purchase (subject to adjustment for certain specified events) up to approximately 4.2 million shares of the Company’s common stock at a price of approximately $ 94.77 per share. The Convertible Note Hedges will be settled in cash or shares, or any combination thereof, in accordance with the settlement method of the 2022 Notes in excess of the par amount, and are expected to settle concurrently with the conversion of the 2022 Notes. In addition, the Company sold warrants (the “Warrants”) to certain bank counterparties whereby the holders of the Warrants have the option to initially purchase (subject to adjustment for certain specified events) a total of approximately 4.2 million shares of the Company’s common stock at a price of $ 115.8 per share. The amount by which the settlement price exceeds the strike price may be settled in shares or cash at the Company’s election. The Warrants are expected to settle three business days from each trading day commencing on September 1, 2022 and ending on the 79th trading day thereafter. During the three months ended September 30, 2021 , the Company exercised and net-share-settled a portion of the Convertible Note Hedges, corresponding to approximately $ 46.4 million in principal amount of 2022 Notes and received approximately 0.4 million shares of common stock and an immaterial cash payment. During the nine months ended September 30, 2021 , the Company exercised and net-share-settled a portion of the Convertible Note Hedges, corresponding to approximately $ 103.6 million in principal amount of 2022 Notes and received approximately 0.9 million shares of common stock and a $ 0.7 million cash payment. As of September 30, 2021 , Convertible Note Hedges giving the Company the option to purchase approximately 0.2 million shares of the Company’s common stock and Warrants giving certain counterparties the option to acquire up to 1.3 million shares of the Company’s common stock remain outstanding. The net carrying amount of the liability component of the 2022 Notes is as follows: As of September 30, 2021 As of December 31, 2020 (in thousands) Principal $ 22,207 $ 125,839 Unamortized debt discount ( 875 ) ( 10,397 ) Unamortized issuance costs ( 63 ) ( 777 ) Net carrying amount $ 21,269 $ 114,665 The net carrying amount of the equity component of the 2022 Notes is as follows: As of September 30, 2021 As of December 31, 2020 (in thousands) Debt discount for conversion option $ 5,885 $ 33,349 Issuance costs ( 158 ) ( 898 ) Net carrying amount $ 5,727 $ 32,451 Interest expense related to the 2022 Notes is as follows: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 (in thousands) (in thousands) Contractual interest expense $ 26 $ 80 $ 142 $ 534 Amortization of debt discount 623 1,737 3,333 11,366 Amortization of issuance costs 47 130 249 849 Total interest expense $ 696 $ 1,947 $ 3,724 $ 12,749

Leases

Leases	9 Months Ended
	Sep. 30, 2021
Leases [Abstract]
Leases	10. Leases The Company leases office facilities under non-cancelable operating leases that expire at various dates through May 2031. Certain operating leases contain optional termination dates, and the Company is not reasonably certain to extend its lease agreements beyond those dates. During the nine months ended September 30, 2021, the lease term began, was amended, terminated, or extended for various leases of office spaces globally. The Company recorded a net $ 40.3 million of right-of-use assets and $ 38.4 million of lease liabilities for these leases during the period upon the lease commencement, amendment, termination, or extension. The Company uses its estimated incremental borrowing rate, which is derived from information available at the lease commencement date, in determining the present value of operating lease payments. To determine the estimated incremental borrowing rate, the Company uses publicly available credit ratings for peer companies. The Company estimates the incremental borrowing rate using yields for maturities that are in line with the duration of the lease payments. The weighted average discount rate for operating leases as of September 30, 2021 is 4.5 %. Operating lease expense costs were $ 12.7 million for the three months ended September 30, 2021, $ 36.7 million for the nine months ended September 30, 2021, $ 11.9 million for the three months ended September 30, 2020, and $ 32.6 million for the nine months ended September 30, 2020. The Company subleases some of its unused spaces to third parties. Operating sublease income generated under all operating lease agreements for the three and nine months ended September 30, 2021 and 2020 are as follows: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 (in thousands) (in thousands) Operating sublease income $ 1,236 $ 1,112 $ 3,742 $ 3,840 Cash payments related to operating lease liabilities were $ 12.3 million for the three months ended September 30, 2021, $ 38.5 million for the nine months ended September 30, 2021, $ 11.6 million for the three months ended September 30, 2020, and $ 31.4 million for the nine months ended September 30, 2020. In the three months ended September 30, 2021 , the Company terminated a lease for certain office facilities in Cambridge, Massachusetts and recorded a gain of $ 4.3 million. In connection with the lease termination, the Company recorded a loss of $ 6.5 million for the disposal of fixed assets. The net loss of $ 2.2 million is reported in the consolidated statements of operations as operating expense.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	11. Commitments and Contingencies Contractual Obligations The Company leases its office facilities under non-cancelable operating leases that expire at various dates through May 2031. Lease expense for non-cancelable operating leases with free rental periods or scheduled rent increases is recognized on a straight-line basis over the terms of the leases. Improvement reimbursements from landlords of $ 24.2 million are recognized as a reduction of lease expense ratably over the terms of the leases. Certain leases contain optional termination dates. The table below only includes payments up to the optional termination date. If the Company were to extend leases beyond the optional termination date, the future commitments would increase by approximately $ 85.8 million. Future minimum payments under all operating lease agreements as of September 30, 2021 are as follows: Operating (in thousands) Remainder of 2021 $ 11,604 2022 43,745 2023 42,343 2024 41,062 2025 41,035 Thereafter 214,508 Total $ 394,297 In October 2021, the Company entered into an agreement to add space and extend a lease in Australia for facilities with lease terms of approximately 5 years . The new lease commences on or ne ar April 2022 and the Company will pay an aggregate of approximate ly $ 4.9 m illion in incremental rent over the lease term. Future minimum payments under all non-cancelable arrangements as of September 30, 2021 and agreements entered into since then are as follows: Product INBOUND (in thousands) Remainder of 2021 $ 26,092 $ - 2022 133,062 1,320 2023 150,404 973 2024 171,250 4 2025 195,000 4 Thereafter 407,500 — Total $ 1,083,308 $ 2,301 Legal Contingencies From time to time, the Company may become a party to litigation and subject to claims incident to the ordinary course of business, including intellectual property claims, labor and employment claims, and threatened claims, breach of contract claims, tax, and other matters. The Company currently has no material pending litigation.

Business Acquisition

Business Acquisition	9 Months Ended
	Sep. 30, 2021
Business Combinations [Abstract]
Business Acquisition	12. Business Acquisition On February 9, 2021 , the Company acquired 100 % of the equity interests of Hustle Con Media, Inc. (the “Hustle”), a media company that produces a newsletter, podcast, and premium research content for innovative professionals. The Hustle will enable the Company to better meet the needs of scaling companies by delivering educational, business and technology trend content in their preferred formats. The total cash purchase price for the acquisition was $ 17.2 million, net of cash acquired, which included an upward working capital adjustment of $ 0.4 million. The following table summarizes the fair value of assets acquired and liabilities assumed as of the date of acquisition: Fair value (in thousands) Cash $ 3,089 Accounts receivable 1,153 Other current and noncurrent assets 835 Current backlog asset 677 Customer relationships 2,400 Goodwill 16,987 Accounts payable, accrued expenses, and other liabilities ( 2,975 ) Deferred revenue ( 825 ) Deferred tax liability ( 1,042 ) Total purchase price $ 20,299 As part of the purchase price allocation, the Company recorded a net deferred tax liability for approximately $ 1.0 million related to the difference between the tax basis and fair value of the acquired intangible assets. This net deferred tax liability provided a source of additional income to support the realizability of the Company’s pre-existing, U.S. deferred tax assets. As the Company has recorded a full valuation allowance against its U.S. deferred tax assets, the Company released a portion of its valuation allowance and recorded a corresponding income tax benefit of $ 1.0 million in the consolidated statement of operations for the period ended March 31, 2021. The excess of the purchase consideration over the fair value of net tangible and identifiable intangible assets and liabilities acquired was recorded as goodwill. The Company believes the goodwill is attributable to the significant value obtained from the Company utilizing the advertising space within the Hustle’s newsletter and podcast, as well as the market influence of the premium research content to promote its products to the Hustle’s customer base and acquire new customers. The goodwill recognized is not deductible for U.S. or foreign income tax purposes. The Company applied an income approach to estimate the fair values of the intangible assets acquired. The primary intangible asset acquired in the business acquisition was customer relationships and the fair value of $ 2.4 million was determined based on the estimated present value of expected after-tax cash flows attributable to subscribers using an excess earnings method. The Company applied various estimates and assumptions with respect to forecasted revenue growth rates, the revenue attributable to the existing customers over time and the discount rate. The fair values assigned to the other tangible and identifiable intangible assets acquired and liabilities assumed as part of the business combination were based on management’s estimates and assumptions. The Company began amortizing the customer relationships on the date of acquisition over a period of seven years based on expected future cash flow attributable to existing customers. The amortization expense is recorded to sales and marketing expense in the consolidated statements of operations. The Company has included the operating results of the Hustle in its consolidated financial statements since the date of the acquisition. The acquisition did not have a material effect on the revenue or earnings in the consolidated income statement for the reporting periods presented. The pro forma results of the Company as if the acquisition had taken place on the first day of 2020 were not materially different from the amounts reflected in the accompanying consolidated financial statements.

Changes in Stockholders' Equity

Changes in Stockholders' Equity	9 Months Ended
	Sep. 30, 2021
Stockholders' Equity Note [Abstract]
Changes in Stockholders' Equity	13. Changes in Stockholders’ Equity The following tables summarize the changes in stockholders’ equity for the nine months ended September 30, 2021 and 2020. Common Treasury Stock, $0.001 Additional Accumulated Accumulated Shares $ Shares $ Capital Income Deficit Total Balances at December 31, 2020 46,115 $ 46 12 $ — $ 1,241,167 $ 4,603 $ ( 483,161 ) 762,655 Issuance of common stock under stock 746 1 — — 17,259 — — 17,260 Stock-based compensation — — — — 77,606 — 77,606 Equity component of the 2022 471 — — — ( 2,455 ) — — ( 2,455 ) Settlement of Convertible Note Hedges ( 473 ) — 473 — 724 — — 724 Cumulative translation adjustment — — — — — ( 1,955 ) — ( 1,955 ) Unrealized loss on investments, net of 43 ) — — — — — ( 420 ) — ( 420 ) Net loss — — — — — — ( 47,731 ) ( 47,731 ) Balances at June 30, 2021 46,859 $ 47 485 $ — $ 1,334,301 $ 2,228 $ ( 530,892 ) $ 805,684 Issuance of common stock under stock 245 — — — 1,233 — — 1,233 Restricted stock units taxes paid in cash — — — — ( 4,814 ) — — ( 4,814 ) Equity component of the 2022 412 1 — — ( 552 ) — — ( 551 ) Settlement of Convertible Note Hedges ( 410 ) ( 1 ) 410 ( 1 ) 3 — — 2 Stock-based compensation — — — — 45,811 — — 45,811 Cumulative translation adjustment — — — — — ( 1,600 ) — ( 1,600 ) Unrealized loss on investments, net of 1 ) — — — — — ( 37 ) — ( 37 ) Net loss — — — — — — ( 13,735 ) ( 13,735 ) Balances at September 30, 2021 47,106 $ 47 895 $ ( 1 ) $ 1,375,982 $ 591 $ ( 544,627 ) $ 831,993 Common Additional Accumulated Accumulated Shares $ Capital (Loss) Deficit Total Balances at December 31, 2019 42,955 $ 44 $ 1,048,380 $ ( 336 ) $ ( 398,130 ) 649,958 Issuance of common stock under stock 836 — 13,021 — — 13,021 Stock-based compensation — — 59,769 — 59,769 Equity component of the repayment of 1,595 2 611 — 613 Equity component of 2025 Notes, net of — — 96,610 — — 96,610 Purchase of Capped Call Options — — ( 50,600 ) — — ( 50,600 ) Cumulative translation adjustment — — — 82 — 82 Unrealized gain on investments, net of 76 ) — — — 715 — 715 Net loss — — — — ( 47,117 ) ( 47,117 ) Balances at June 30, 2020 45,386 $ 46 $ 1,167,791 $ 461 $ ( 445,247 ) $ 723,051 Issuance of common stock under stock 315 — 1,469 — — 1,469 Restricted stock units taxes paid in cash — — ( 2,454 ) — — ( 2,454 ) Stock-based compensation — — 31,526 — — 31,526 Cumulative translation adjustment — — — 2,049 — 2,049 Unrealized loss on investments, net of 15 ) — — — ( 279 ) — ( 279 ) Net loss — — — — ( 22,498 ) ( 22,498 ) Balances at September 30, 2020 45,701 $ 46 $ 1,198,332 $ 2,231 $ ( 467,745 ) $ 732,864

Changes in Accumulated Other Co

Changes in Accumulated Other Comprehensive Loss	9 Months Ended
	Sep. 30, 2021
Equity [Abstract]
Changes in Accumulated Other Comprehensive Loss	14. Changes in Accumulated Other Comprehensive Loss The following table summarizes the changes in accumulated other comprehensive loss, which is reported as a component of stockholders’ equity, for the nine months ended September 30, 2021. Cumulative Translation Adjustment Unrealized Total (in thousands) Beginning balance at January 1, 2021 4,180 423 4,603 Other comprehensive loss before reclassifications ( 3,555 ) ( 457 ) ( 4,012 ) Amounts reclassified from accumulated other — — — Ending balance at September 30, 2021 625 ( 34 ) 591

Stock-Based Compensation Expens

Stock-Based Compensation Expense	9 Months Ended
	Sep. 30, 2021
Share-based Payment Arrangement [Abstract]
Stock-Based Compensation Expense	15. Stock-Based Compensation Expense The following two tables show stock-based compensation expense by award type and where the stock-based compensation expense is recorded in the Company’s consolidated statements of operations: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 (in thousands) (in thousands) Options $ 1,407 $ 1,576 $ 4,575 $ 4,983 RSUs 41,053 27,259 109,488 80,054 Employee stock purchase plan 2,528 2,351 6,784 4,985 Total stock-based compensation expense $ 44,988 $ 31,186 $ 120,847 $ 90,022 Effect of stock-based compensation expense on income by line item: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 (in thousands) (in thousands) Cost of revenue, subscription $ 1,660 $ 1,140 $ 4,556 $ 3,114 Cost of revenue, professional services and other 748 652 2,270 1,885 Research and development 18,449 10,244 45,014 29,063 Sales and marketing 17,302 13,300 49,902 36,984 General and administrative 6,829 5,850 19,105 18,976 Total stock-based compensation expense $ 44,988 $ 31,186 $ 120,847 $ 90,022 Capitalized software development costs excluded from stock-based compensation expense is $ 1.6 million for the three months ended September 30, 2021, $ 4.7 million for the nine months ended September 30, 2021, $ 0.9 million for the three months ended September 30, 2020 and $ 2.7 million for the nine months ended September 30, 2020 .

Segment Information and Geograp

Segment Information and Geographic Data	9 Months Ended
	Sep. 30, 2021
Segment Reporting [Abstract]
Segment Information and Geographic Data	16. Segment Information and Geographic Data The Company operates as one operating segment. Operating segments are defined as components of an enterprise for which separate financial information is regularly evaluated by the chief operating decision maker (“CODM”), which is the Company’s chief executive officer, in deciding how to allocate resources and assess performance. The Company’s CODM evaluates the Company’s financial information and resources and assess the performance of these resources on a consolidated basis. Since the Company operates in one operating segment, all required financial segment information can be found in the consolidated financial statements. Revenue and long-lived assets by geographic region, based on the physical location of the operations recording the sale or the asset, are as follows: Revenues by geographical region: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 (in thousands) Americas $ 207,244 $ 145,221 $ 571,842 $ 410,080 Europe 102,676 64,128 279,412 171,357 Asia Pacific 29,275 19,036 80,095 49,524 Total $ 339,195 $ 228,385 $ 931,349 $ 630,961 Percentage of revenues generated outside of 39 % 36 % 39 % 35 % Revenue derived from customers outside the United States (international) was approximately 46 % of total revenue in the three and nine months ended September 30, 2021, 44 % of total revenue in the three months ended September 30, 2020, and 42 % for the nine months ended September 30, 2020. Total long-lived assets by geographical region: As of September 30, 2021 As of December 31, 2020 (in thousands) Americas $ 226,627 $ 206,789 Europe 144,565 159,338 Asia Pacific 8,808 10,889 Total long-lived assets $ 380,000 $ 377,016 Percentage of long-lived assets held outside of the Americas 40 % 45 %

Organization and Operations (Po

Organization and Operations (Policies)	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements Recent accounting standards not included below are not expected to have a material impact on our consolidated financial position and results of operations. In August 2020, the FASB issued guidance simplifying the accounting for convertible instruments by reducing the number of accounting models for convertible debt instruments and convertible preferred stock. Limiting the accounting models results in fewer embedded conversion features being bifurcated from the host contract and separately recognized as compared with current GAAP. In addition, it eliminates the treasury stock method for calculating diluted earnings per share for convertible instruments and requires the use of the if-converted method. The new standard will be effective for the Company on January 1, 2022, with early adoption permitted. The Company will adopt the standard on January 1, 2022 and currently anticipates adopting the standard using the modified retrospective method, which would result in a cumulative effect adjustment as of the date of adoption. The Company has established a team that is continuing to assess the potential impacts of the standard on its consolidated financial statements and footnote disclosures. The Company currently believes the most significant changes will be related to the recognition of additional convertible senior notes on its consolidated balance sheet. The Company expects interest expense to decrease as it eliminates non-cash interest expense due to the discount created by the separation of the equity component. The Company will also need to assume share settlement of the entire convertible debt instrument under the if-converted method therefore increasing the potentially dilutive common stock equivalents. These changes are being evaluated to determine the potential impact to the financial statements and disclosures.
Revenues	Disaggregation of Revenue The Company provides disaggregation of revenue based on geographic region (Note 16) and based on the subscription versus professional services and other classification on the consolidated statements of operations as it believes these best depict how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors. Deferred Revenue and Deferred Commission Expense Amounts that have been invoiced are recorded in accounts receivable and deferred revenue or revenue, depending on whether the revenue recognition criteria have been met. Deferred revenue represents amounts billed for which revenue has not yet been recognized. Deferred revenue that will be recognized during the succeeding 12-month period is recorded as current deferred revenue, and the remaining portion is recorded as long-term deferred revenue. Deferred revenue during the nine months ended September 30, 2021 increased by $ 59.4 million resulting from $ 398.6 million of additional invoicing and was offset by revenue recognized of $ 339.2 million during the same period. $ 198.9 million of revenue was recognized during the three months ended September 30, 2021 that was included in deferred revenue at the beginning of the period. $ 289.8 million of revenue was recognized during the nine months ended September 30, 2021 that was included in deferred revenue at the beginning of the period. As of September 30, 2021, approximately $ 329.7 million of revenue is expected to be recognized from remaining performance obligations for contracts with original performance obligations that exceed one year . The Company expects to recognize revenue on approximately 93 % of these remaining performance obligations over the next 24 months , with the balance recognized thereafter. Additional contract liabilities of $ 2.0 million and $ 1.7 were included in accrued expenses and other current liabilities on the consolidated balance sheet as of September 30, 2021 and December 31, 2020. The incremental direct costs of obtaining a contract, which primarily consist of sales commissions paid for new subscription contracts, are deferred and amortized on a straight-line basis over a period of approximately one to three years. The one to three-year period has been determined by taking into consideration the type of product sold, the commitment term of the customer contract, the nature of the Company’s technology development life-cycle, and an estimated customer relationship period. Sales commissions for upgrade contracts are deferred and amortized on a straight-line basis over the remaining estimated customer relationship period of the related customer. Deferred commission expense that will be recorded as expense during the succeeding 12-month period is recorded as current deferred commission expense, and the remaining portion is recorded as long-term deferred commission expense. Deferred commission expense during the three months ended September 30, 2021 increased by $ 6.9 million as a result of deferring incremental costs of obtaining a contract of $ 24.3 million and was offset by amortization of $ 17.4 million during the same period. Deferred commission expense during the nine months ended September 30, 2021 increased by $ 22.2 million as a result of deferring incremental costs of obtaining a contract of $ 70.9 million and was offset by amortization of $ 48.7 million during the same period.

Net Loss per Share (Tables)

Net Loss per Share (Tables)	9 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
Summary of Reconciliation of Denominator Used in Calculation of Basic and Diluted Net Loss Per Share	A reconciliation of the denominator used in the calculation of basic and diluted net loss per share is as follows: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Net loss $ ( 13,735 ) $ ( 22,498 ) $ ( 61,466 ) $ ( 69,615 ) Weighted-average common shares outstanding — basic 47,044 45,627 46,752 44,346 Dilutive effect of share equivalents resulting from — — — — Weighted-average common shares, outstanding — diluted 47,044 45,627 46,752 44,346 Net loss per share, basic and diluted $ ( 0.29 ) $ ( 0.49 ) $ ( 1.31 ) $ ( 1.57 )
Schedule of Potentially Dilutive Common Stock Equivalents	The following table contains all potentially dilutive common stock equivalents. As of September 30, 2021 2020 (in thousands) Options to purchase common shares 717 1,170 RSUs 1,409 1,726 Conversion Option of the 2022 Notes and Warrants 1,721 1,614 Conversion Option of the 2025 Notes 747 — ESPP 8 17

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Schedule of Fair Value Measurements of Financial Assets and Liabilities	The following table details the fair value measurements within the fair value hierarchy of the Company’s financial assets and liabilities at September 30, 2021 and December 31, 2020: September 30, 2021 Level 1 Level 2 Level 3 Total (in thousands) Cash equivalents and investments: Money market funds $ 76,199 $ — $ — $ 76,199 Commercial paper — 129,480 — 129,480 Corporate bonds — 240,608 — 240,608 U.S. Government agency securities — 6,800 — 6,800 U.S. Treasury securities — 663,189 — 663,189 Restricted cash: Money market funds — 3,029 — 3,029 Total $ 76,199 $ 1,043,106 $ — $ 1,119,305 December 31, 2020 Level 1 Level 2 Level 3 Total (in thousands) Cash equivalents and investments: Money market funds $ 172,485 $ — $ — $ 172,485 Commercial paper — 12,233 — 12,233 Corporate bonds — 116,371 — 116,371 U.S. Treasury securities — 774,772 — 774,772 Certificates of deposit 394 — 394 Restricted cash: Money market funds — 3,029 — 3,029 Total $ 172,485 $ 906,799 $ — $ 1,079,284
Summary of Composition of Short and Long Term Investments	The following tables summarize the composition of our short- and long-term investments at September 30, 2021 and December 31, 2020. September 30, 2021 Amortized Unrealized Unrealized Aggregate (in thousands) Commercial paper 104,481 — — 104,481 Corporate bonds 240,626 69 ( 87 ) 240,608 U.S. Government agency securities 6,803 — ( 3 ) 6,800 U.S. Treasury securities 645,201 6 ( 18 ) 645,189 Total 997,111 75 ( 108 ) 997,078 December 31, 2020 Amortized Unrealized Unrealized Aggregate (in thousands) Commercial paper $ 12,233 $ — $ — $ 12,233 Corporate bonds 115,983 427 ( 39 ) 116,371 U.S. Treasury securities 774,667 105 — 774,772 Certificates of deposit 394 — — 394 Total $ 903,277 $ 532 $ ( 39 ) $ 903,770
Summary of Contractual Maturities of Short and Long Term Investments	The contractual maturities of short-term and long-term investments held at September 30, 2021 and December 31, 2020 are as follows: September 30, 2021 December 31, 2020 Amortized Aggregate Amortized Aggregate (in thousands) (in thousands) Due within one year $ 882,343 $ 882,340 $ 872,637 $ 873,073 Due after 1 year through 2 years 114,768 114,738 30,640 30,697 Total $ 997,111 $ 997,078 $ 903,277 $ 903,770

Restricted cash (Tables)

Restricted cash (Tables)	9 Months Ended
	Sep. 30, 2021
Cash and Cash Equivalents [Abstract]
Summary of Reconciliation of Cash, Cash Equivalents and Restricted Cash	The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the consolidated balance sheets that sum to the total of the same such amounts shown in the statement of cash flows for the three months ended September 30, 2021 and 2020. September 30, 2021 September 30, 2020 December 31, 2020 (in thousands) Cash and cash equivalents $ 288,334 $ 124,895 $ 378,123 Restricted cash, included in other assets 3,029 3,029 3,029 Total cash, cash equivalents, and restricted cash $ 291,363 $ 127,924 $ 381,152

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	9 Months Ended
	Sep. 30, 2021
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment, Net	Property and equipment, net consists of the following: September 30, 2021 December 31, 2020 (in thousands) Computer equipment and purchased software $ 15,184 $ 15,128 Employee related computer equipment 28,267 20,802 Furniture and fixtures 20,217 20,204 Leasehold improvements 91,245 89,850 Internal-use software 18,678 12,528 Construction in progress 2,251 10,014 Total property and equipment 175,842 168,526 Less accumulated depreciation ( 81,115 ) ( 67,403 ) Property and equipment, net $ 94,727 $ 101,123

Capitalized Software Developm_2

Capitalized Software Development Costs (Tables)	9 Months Ended
	Sep. 30, 2021
Research and Development [Abstract]
Summary of Capitalized Software Development Costs, Exclusive of those Recorded within Property and Equipment	Capitalized software development costs, exclusive of those recorded within property and equipment, consisted of the following: September 30, 2021 December 31, 2020 (in thousands) Gross capitalized software development costs $ 113,559 $ 85,630 Accumulated amortization ( 75,577 ) ( 60,687 ) Capitalized software development costs, net $ 37,982 $ 24,943

Convertible Senior Notes (Table

Convertible Senior Notes (Tables)	9 Months Ended
	Sep. 30, 2021
0.375%Convertible Senior Notes Due 2025 as Liability Component [Member]
Debt Instrument [Line Items]
Schedule of Net Carrying Amount of Notes	The net carrying amount of the liability component of the 2025 Notes is as follows: As of September 30, 2021 As of December 31, 2020 (in thousands) Principal $ 460,000 $ 460,000 Unamortized debt discount ( 75,291 ) ( 88,756 ) Unamortized issuance costs ( 5,914 ) ( 6,973 ) Net carrying amount $ 378,795 $ 364,271
0.375% Convertible Senior Notes Due 2025 as Equity Component [Member]
Debt Instrument [Line Items]
Schedule of Net Carrying Amount of Notes	The net carrying amount of the equity component of the 2025 Notes is as follows: As of September 30, 2021 As of December 31, 2020 (in thousands) Debt discount for conversion option $ 98,730 $ 98,730 Issuance costs ( 2,120 ) ( 2,120 ) Net carrying amount $ 96,610 $ 96,610
0.375% Convertible Senior Notes Due 2025 [Member]
Debt Instrument [Line Items]
Schedule of Interest Expense	Interest expense related to the 2025 Notes is as follows: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 (in thousands) Contractual interest expense $ 431 $ 431 $ 1,294 $ 556 Amortization of debt discount 4,573 4,320 13,474 5,538 Amortization of issuance costs 359 339 1,059 435 Total interest expense $ 5,363 $ 5,090 $ 15,827 $ 6,529
0.25% Convertible Senior Notes Due 2022 as Liability Component [Member]
Debt Instrument [Line Items]
Schedule of Net Carrying Amount of Notes	The net carrying amount of the liability component of the 2022 Notes is as follows: As of September 30, 2021 As of December 31, 2020 (in thousands) Principal $ 22,207 $ 125,839 Unamortized debt discount ( 875 ) ( 10,397 ) Unamortized issuance costs ( 63 ) ( 777 ) Net carrying amount $ 21,269 $ 114,665
0.25%Convertible Senior Notes Due 2022 as Equity Component [Member]
Debt Instrument [Line Items]
Schedule of Net Carrying Amount of Notes	The net carrying amount of the equity component of the 2022 Notes is as follows: As of September 30, 2021 As of December 31, 2020 (in thousands) Debt discount for conversion option $ 5,885 $ 33,349 Issuance costs ( 158 ) ( 898 ) Net carrying amount $ 5,727 $ 32,451
0.25% Convertible Senior Notes Due 2022 [Member]
Debt Instrument [Line Items]
Schedule of Interest Expense	Interest expense related to the 2022 Notes is as follows: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 (in thousands) (in thousands) Contractual interest expense $ 26 $ 80 $ 142 $ 534 Amortization of debt discount 623 1,737 3,333 11,366 Amortization of issuance costs 47 130 249 849 Total interest expense $ 696 $ 1,947 $ 3,724 $ 12,749

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2021
Leases [Abstract]
Schedule of Operating Sublease Income Generated under Operating Lease Agreements	The Company subleases some of its unused spaces to third parties. Operating sublease income generated under all operating lease agreements for the three and nine months ended September 30, 2021 and 2020 are as follows: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 (in thousands) (in thousands) Operating sublease income $ 1,236 $ 1,112 $ 3,742 $ 3,840

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Schedule of Future Minimum Payments	Future minimum payments under all operating lease agreements as of September 30, 2021 are as follows: Operating (in thousands) Remainder of 2021 $ 11,604 2022 43,745 2023 42,343 2024 41,062 2025 41,035 Thereafter 214,508 Total $ 394,297
Schedule of Future Minimum Payments Under Non-Cancelable Arrangements	Future minimum payments under all non-cancelable arrangements as of September 30, 2021 and agreements entered into since then are as follows: Product INBOUND (in thousands) Remainder of 2021 $ 26,092 $ - 2022 133,062 1,320 2023 150,404 973 2024 171,250 4 2025 195,000 4 Thereafter 407,500 — Total $ 1,083,308 $ 2,301

Business Acquisition (Tables)

Business Acquisition (Tables)	9 Months Ended
	Sep. 30, 2021
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Summary of Fair Value of Assets Acquired and Liabilities Assumed	The following table summarizes the fair value of assets acquired and liabilities assumed as of the date of acquisition: Fair value (in thousands) Cash $ 3,089 Accounts receivable 1,153 Other current and noncurrent assets 835 Current backlog asset 677 Customer relationships 2,400 Goodwill 16,987 Accounts payable, accrued expenses, and other liabilities ( 2,975 ) Deferred revenue ( 825 ) Deferred tax liability ( 1,042 ) Total purchase price $ 20,299

Changes in Stockholders' Equi_2

Changes in Stockholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2021
Stockholders' Equity Note [Abstract]
Summary of Changes in Stockholders' Equity	The following tables summarize the changes in stockholders’ equity for the nine months ended September 30, 2021 and 2020. Common Treasury Stock, $0.001 Additional Accumulated Accumulated Shares $ Shares $ Capital Income Deficit Total Balances at December 31, 2020 46,115 $ 46 12 $ — $ 1,241,167 $ 4,603 $ ( 483,161 ) 762,655 Issuance of common stock under stock 746 1 — — 17,259 — — 17,260 Stock-based compensation — — — — 77,606 — 77,606 Equity component of the 2022 471 — — — ( 2,455 ) — — ( 2,455 ) Settlement of Convertible Note Hedges ( 473 ) — 473 — 724 — — 724 Cumulative translation adjustment — — — — — ( 1,955 ) — ( 1,955 ) Unrealized loss on investments, net of 43 ) — — — — — ( 420 ) — ( 420 ) Net loss — — — — — — ( 47,731 ) ( 47,731 ) Balances at June 30, 2021 46,859 $ 47 485 $ — $ 1,334,301 $ 2,228 $ ( 530,892 ) $ 805,684 Issuance of common stock under stock 245 — — — 1,233 — — 1,233 Restricted stock units taxes paid in cash — — — — ( 4,814 ) — — ( 4,814 ) Equity component of the 2022 412 1 — — ( 552 ) — — ( 551 ) Settlement of Convertible Note Hedges ( 410 ) ( 1 ) 410 ( 1 ) 3 — — 2 Stock-based compensation — — — — 45,811 — — 45,811 Cumulative translation adjustment — — — — — ( 1,600 ) — ( 1,600 ) Unrealized loss on investments, net of 1 ) — — — — — ( 37 ) — ( 37 ) Net loss — — — — — — ( 13,735 ) ( 13,735 ) Balances at September 30, 2021 47,106 $ 47 895 $ ( 1 ) $ 1,375,982 $ 591 $ ( 544,627 ) $ 831,993 Common Additional Accumulated Accumulated Shares $ Capital (Loss) Deficit Total Balances at December 31, 2019 42,955 $ 44 $ 1,048,380 $ ( 336 ) $ ( 398,130 ) 649,958 Issuance of common stock under stock 836 — 13,021 — — 13,021 Stock-based compensation — — 59,769 — 59,769 Equity component of the repayment of 1,595 2 611 — 613 Equity component of 2025 Notes, net of — — 96,610 — — 96,610 Purchase of Capped Call Options — — ( 50,600 ) — — ( 50,600 ) Cumulative translation adjustment — — — 82 — 82 Unrealized gain on investments, net of 76 ) — — — 715 — 715 Net loss — — — — ( 47,117 ) ( 47,117 ) Balances at June 30, 2020 45,386 $ 46 $ 1,167,791 $ 461 $ ( 445,247 ) $ 723,051 Issuance of common stock under stock 315 — 1,469 — — 1,469 Restricted stock units taxes paid in cash — — ( 2,454 ) — — ( 2,454 ) Stock-based compensation — — 31,526 — — 31,526 Cumulative translation adjustment — — — 2,049 — 2,049 Unrealized loss on investments, net of 15 ) — — — ( 279 ) — ( 279 ) Net loss — — — — ( 22,498 ) ( 22,498 ) Balances at September 30, 2020 45,701 $ 46 $ 1,198,332 $ 2,231 $ ( 467,745 ) $ 732,864

Changes in Accumulated Other _2

Changes in Accumulated Other Comprehensive Loss (Tables)	9 Months Ended
	Sep. 30, 2021
Equity [Abstract]
Changes in Accumulated Other Comprehensive Loss	The following table summarizes the changes in accumulated other comprehensive loss, which is reported as a component of stockholders’ equity, for the nine months ended September 30, 2021. Cumulative Translation Adjustment Unrealized Total (in thousands) Beginning balance at January 1, 2021 4,180 423 4,603 Other comprehensive loss before reclassifications ( 3,555 ) ( 457 ) ( 4,012 ) Amounts reclassified from accumulated other — — — Ending balance at September 30, 2021 625 ( 34 ) 591

Stock-Based Compensation Expe_2

Stock-Based Compensation Expense (Tables)	9 Months Ended
	Sep. 30, 2021
Share-based Payment Arrangement [Abstract]
Schedule of Stock-Based Compensation Expense by Award Type	The following two tables show stock-based compensation expense by award type and where the stock-based compensation expense is recorded in the Company’s consolidated statements of operations: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 (in thousands) (in thousands) Options $ 1,407 $ 1,576 $ 4,575 $ 4,983 RSUs 41,053 27,259 109,488 80,054 Employee stock purchase plan 2,528 2,351 6,784 4,985 Total stock-based compensation expense $ 44,988 $ 31,186 $ 120,847 $ 90,022
Effect of Stock-Based Compensation on Income by Line Item	Effect of stock-based compensation expense on income by line item: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 (in thousands) (in thousands) Cost of revenue, subscription $ 1,660 $ 1,140 $ 4,556 $ 3,114 Cost of revenue, professional services and other 748 652 2,270 1,885 Research and development 18,449 10,244 45,014 29,063 Sales and marketing 17,302 13,300 49,902 36,984 General and administrative 6,829 5,850 19,105 18,976 Total stock-based compensation expense $ 44,988 $ 31,186 $ 120,847 $ 90,022

Segment Information and Geogr_2

Segment Information and Geographic Data (Tables)	9 Months Ended
	Sep. 30, 2021
Segment Reporting [Abstract]
Revenues by Geographical Region	Revenues by geographical region: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 (in thousands) Americas $ 207,244 $ 145,221 $ 571,842 $ 410,080 Europe 102,676 64,128 279,412 171,357 Asia Pacific 29,275 19,036 80,095 49,524 Total $ 339,195 $ 228,385 $ 931,349 $ 630,961 Percentage of revenues generated outside of 39 % 36 % 39 % 35 %
Long Lived Assets by Geographical Region	Total long-lived assets by geographical region: As of September 30, 2021 As of December 31, 2020 (in thousands) Americas $ 226,627 $ 206,789 Europe 144,565 159,338 Asia Pacific 8,808 10,889 Total long-lived assets $ 380,000 $ 377,016 Percentage of long-lived assets held outside of the Americas 40 % 45 %

Revenues - Additional Informati

Revenues - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Revenue Initial Application Period Cumulative Effect Transition [Line Items]
Additions in deferred revenue			$ 59,400
Additional Invoicing			398,600
Total revenues	$ 339,195	$ 228,385	931,349	$ 630,961
Deferred revenue, revenue recognized	198,900		289,800
Revenue remaining performance obligation, contracts exceeds one year	329,700		$ 329,700
Revenue remaining performance obligation contract period			1 year
Revenue remaining performance obligation percentage recognized			93.00%
Short-term deferred revenue	372,381		$ 372,381		$ 312,866
Increase (decrease) in deferred commission expense	6,900		22,200
Incremental costs of deferred sales commission expense	24,300		70,900
Amortization of deferred commission expense	17,400		$ 48,700
Minimum [Member]
Revenue Initial Application Period Cumulative Effect Transition [Line Items]
Amortization period of deferred commissions			1 year
Maximum [Member]
Revenue Initial Application Period Cumulative Effect Transition [Line Items]
Amortization period of deferred commissions			3 years
Accrued Expenses and Other Current Liabilities [Member]
Revenue Initial Application Period Cumulative Effect Transition [Line Items]
Short-term deferred revenue	$ 2,000		$ 2,000		$ 1,700

Revenues - Additional Informa_2

Revenues - Additional Information1 (Detail)	Sep. 30, 2021
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2021-07-01
Revenue Initial Application Period Cumulative Effect Transition [Line Items]
Revenue remaining performance obligations recognition period	24 months

Net Loss per Share - Summary of

Net Loss per Share - Summary of Reconciliation of Denominator Used in Calculation of Basic and Diluted Net Loss Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Earnings Per Share, Basic and Diluted [Abstract]
Net loss	$ (13,735)	$ (22,498)	$ (47,731)	$ (47,117)	$ (61,466)	$ (69,615)
Weighted-average common shares outstanding — basic	47,044	45,627			46,752	44,346
Weighted-average common shares, outstanding — diluted	47,044	45,627			46,752	44,346
Net loss per share, basic and diluted	$ (0.29)	$ (0.49)			$ (1.31)	$ (1.57)

Net Loss per Share - Additional

Net Loss per Share - Additional Information (Detail) $ / shares in Units, $ in Millions	Oct. 29, 2021USD ($)	Sep. 30, 2021USD ($)$ / shares	Sep. 30, 2021d$ / shares	Jun. 30, 2020$ / shares
Earnings Per Share Basic [Line Items]
Average stock price | $ / shares		$ 644.26	$ 536.66
0.25% Convertible Senior Notes Due 2022 as Liability Component [Member]
Earnings Per Share Basic [Line Items]
Common stock conversion price | $ / shares		$ 94.77	$ 94.77
Debt instrument, convertible, threshold trading days			20
Debt instrument, convertible, threshold consecutive trading days			30
Percentage of closing price to trigger debt conversion			130.00%
Debt instrument convertible, principal amount | $		$ 46.4
0.25% Convertible Senior Notes Due 2022 as Liability Component [Member] | Subsequent Event [Member]
Earnings Per Share Basic [Line Items]
Debt instrument convertible, principal amount | $	$ 2.8
0.375% Convertible Senior Notes Due 2025 [Member]
Earnings Per Share Basic [Line Items]
Common stock conversion price | $ / shares		$ 282.52	$ 282.52	$ 282.52
Debt instrument, convertible, threshold trading days			20
Debt instrument, convertible, threshold consecutive trading days			30
0.375% Convertible Senior Notes Due 2025 [Member] | Maximum [Member]
Earnings Per Share Basic [Line Items]
Percentage of closing price to trigger debt conversion			130.00%

Net Loss per Share - Schedule o

Net Loss per Share - Schedule of Potentially Dilutive Common Stock Equivalents (Detail) - shares shares in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Conversion Option of the 2025 Notes [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	747
Options to Purchase Common Shares [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	717	1,170
RSUs [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	1,409	1,726
Conversion Option of the 2022 Notes and Warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	1,721	1,614
ESPP [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	8	17

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Schedule of Fair Value of Financial Assets and Liabilities (Detail) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of short and long term investments	$ 997,078	$ 903,770
Fair value of financial assets	1,119,305	1,079,284
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of financial assets	76,199	172,485
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of financial assets	1,043,106	906,799
Money Market Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of cash and cash equivalents	76,199	172,485
Fair value of restricted cash	3,029	3,029
Money Market Funds [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of cash and cash equivalents	76,199	172,485
Money Market Funds [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of restricted cash	3,029	3,029
Commercial Paper [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of short and long term investments	129,480	12,233
Commercial Paper [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of short and long term investments	129,480	12,233
Corporate Bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of short and long term investments	240,608	116,371
Corporate Bonds [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of short and long term investments	240,608	116,371
U.S. Government Agency Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of short and long term investments	6,800
U.S. Government Agency Securities [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of short and long term investments	6,800
US Treasury Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of short and long term investments	663,189	774,772
US Treasury Securities [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of short and long term investments	$ 663,189	774,772
Certificates of Deposit [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of short and long term investments		394
Certificates of Deposit [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of short and long term investments		$ 394

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2021	Dec. 31, 2020
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Other assets	$ 25,570	$ 25,570	$ 13,893
Short-term strategic investments	882,340	882,340	873,073
Other Income [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Recognized gain on investment	10,700	11,700
Strategic Investments [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Other assets	15,300	15,300	$ 6,700
2022 Notes [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Fair value of notes	158,300	158,300
2025 Notes [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Fair value of notes	$ 1,100,000	$ 1,100,000

Fair Value of Financial Instr_5

Fair Value of Financial Instruments - Summary of Composition of Short and Long Term Investments (Detail) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 997,111	$ 903,277
Unrealized Gains	75	532
Unrealized Losses	(108)	(39)
Aggregate Fair Value	997,078	903,770
Commercial Paper [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	104,481	12,233
Aggregate Fair Value	104,481	12,233
Corporate Bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	240,626	115,983
Unrealized Gains	69	427
Unrealized Losses	(87)	(39)
Aggregate Fair Value	240,608	116,371
U.S. Government Agency Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	6,803
Unrealized Losses	(3)
Aggregate Fair Value	6,800
US Treasury Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	645,201	774,667
Unrealized Gains	6	105
Unrealized Losses	(18)
Aggregate Fair Value	$ 645,189	774,772
Certificates of Deposit [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost		394
Aggregate Fair Value		$ 394

Fair Value of Financial Instr_6

Fair Value of Financial Instruments - Summary of Contractual Maturities of Short and Long Term Investments (Detail) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Amortized Cost Basis, Due within one year	$ 882,343	$ 872,637
Amortized Cost Basis, Due after 1 year through 2 years	114,768	30,640
Amortized Cost	997,111	903,277
Aggregate Fair Value, Due within one year	882,340	873,073
Aggregate Fair Value, Due after 1 year through 2 years	114,738	30,697
Aggregate Fair Value, Total	$ 997,078	$ 903,770

Equity Method Investment - Addi

Equity Method Investment - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Schedule Of Equity Method Investments [Line Items]
Commitments to contribute additional capital	$ 9,400				$ 9,400
Carrying amount of investment	2,900				2,900
Net loss	(13,735)	$ (22,498)	$ (47,731)	$ (47,117)	(61,466)	$ (69,615)
Black Economic Development Fund [Member]
Schedule Of Equity Method Investments [Line Items]
Equity method investment	3,100				3,100
Percentage of ownership interest and income share			5.00%
Black Economic Development Fund [Member] | Other Expense [Member]
Schedule Of Equity Method Investments [Line Items]
Net loss	$ 100				$ 200

Restricted Cash - Summary of Re

Restricted Cash - Summary of Reconciliation of Cash, Cash Equivalents and Restricted Cash (Detail) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020	Sep. 30, 2020
Cash and Cash Equivalents [Abstract]
Cash and cash equivalents	$ 288,334	$ 378,123	$ 124,895
Restricted cash, included in other assets	$ 3,029	$ 3,029	$ 3,029
Restricted Cash, Asset, Statement of Financial Position [Extensible List]	us-gaap:OtherAssets	us-gaap:OtherAssets	us-gaap:OtherAssets
Total cash, cash equivalents, and restricted cash	$ 291,363	$ 381,152	$ 127,924

Property and Equipment, Net - S

Property and Equipment, Net - Schedule of Property and Equipment, Net (Detail) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 175,842	$ 168,526
Less accumulated depreciation	(81,115)	(67,403)
Property and equipment, net	94,727	101,123
Computer Equipment and Purchased Software [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	15,184	15,128
Employee Related Computer Equipment [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	28,267	20,802
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	20,217	20,204
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	91,245	89,850
Internal Use Software [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	18,678	12,528
Construction in Progress [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 2,251	$ 10,014

Property and Equipment, Net - A

Property and Equipment, Net - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Property, Plant and Equipment [Abstract]
Depreciation and amortization	$ 5.9	$ 5.5	$ 17.9	$ 15.1

Capitalized Software Developm_3

Capitalized Software Development Costs - Summary of Capitalized Software Development Costs, Exclusive of those Recorded within Property and Equipment (Detail) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Capitalized Computer Software, Net [Abstract]
Gross capitalized software development costs	$ 113,559	$ 85,630
Accumulated amortization	(75,577)	(60,687)
Capitalized software development costs, net	$ 37,982	$ 24,943

Capitalized Software Developm_4

Capitalized Software Development Costs - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Capitalized Computer Software, Net [Abstract]
Amortization of software development costs, exclusive of costs recorded within property and equipment	$ 6.1	$ 4.1	$ 16.3	$ 11.3

Convertible Senior Notes - Addi

Convertible Senior Notes - Additional Information (Detail)	Oct. 29, 2021USD ($)	Jun. 30, 2020USD ($)$ / sharesshares	May 31, 2017USD ($)$ / shares	Sep. 30, 2021USD ($)$ / sharesshares	Sep. 30, 2021USD ($)d$ / sharesshares	Sep. 30, 2020USD ($)
Debt Instrument [Line Items]
Loss on early extinguishment of debt					$ (4,824,000)	$ (10,493,000)
0.375% Convertible Senior Notes Due 2025 [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage		0.375%
Debt instrument, maturity date					Jun. 1, 2025
Principal amount of each convertible note		$ 1,000,000,000
Debt instrument, conversion ratio		3.5396
Principal amount settlement, Description					The Company expects to settle the principal amount of the 2025 Notes in cash.
Debt instrument, convertible, threshold trading days | d					20
Debt instrument, convertible, threshold consecutive trading days | d					30
Debt instrument, conversion price per share | $ / shares		$ 282.52		$ 282.52	$ 282.52
0.375% Convertible Senior Notes Due 2025 [Member] | Capped Call Options [Member]
Debt Instrument [Line Items]
Cost of purchased capped call options		$ 50,600,000
Derivative, price risk option strike price | $ / shares		$ 282.52
Derivative, cap price | $ / shares		$ 426.44
0.375% Convertible Senior Notes Due 2025 [Member] | Private Offering [Member]
Debt Instrument [Line Items]
Principal amount of long term debt		$ 400,000,000
0.375% Convertible Senior Notes Due 2025 [Member] | Over-Allotment Options [Member]
Debt Instrument [Line Items]
Principal amount of long term debt		$ 60,000,000
0.375% Convertible Senior Notes Due 2025 [Member] | Maximum [Member]
Debt Instrument [Line Items]
Percentage of closing price to trigger debt conversion					130.00%
0.375% Convertible Senior Notes Due 2025 [Member] | Maximum [Member] | Capped Call Options [Member]
Debt Instrument [Line Items]
Common stock shares covered under capped call transactions | shares		1,600,000
0.25% Convertible Senior Notes Due 2022 [Member]
Debt Instrument [Line Items]
Principal amount of long term debt			$ 1,000,000,000	$ 22,200,000	$ 22,200,000
Debt instrument, interest rate, stated percentage			0.25%
Debt instrument, maturity date					Jun. 1, 2022
Debt instrument, conversion ratio			10.5519
Principal amount settlement, Description					The Company expects to settle the principal amount of the 2022 Notes in cash.
Debt instrument, convertible, threshold trading days | d					20
Debt instrument, convertible, threshold consecutive trading days | d					30
Debt instrument, conversion price per share | $ / shares			$ 94.77
Debt instrument convertible, principal amount				46,400,000
Loss on early extinguishment of debt				$ 1,700,000	$ 4,800,000
Number of common shares to be repurchased under convertible note hedge transactions with certain counterparties | shares				4,200,000	4,200,000
Hedging option strike price per common stock | $ / shares					$ 94.77
Warrants expected to settle, description					The Warrants are expected to settle three business days from each trading day commencing on September 1, 2022 and ending on the 79th trading day thereafter.
Settlement period of warrants excess price over strike price					3 days
Warrants expected to settle, commencement date					Sep. 1, 2022
0.25% Convertible Senior Notes Due 2022 [Member] | Common Stock [Member]
Debt Instrument [Line Items]
Warrants holders option to purchase number of shares of company’s common stock | shares				4,200,000	4,200,000
Warrants exercise price per share | $ / shares				$ 115.8	$ 115.8
Debt instrument cash consideration for conversion				$ 46,400,000	$ 103,600,000
Debt instrument convertible to common stock for cash consideration | shares				400,000	900,000
Debt instrument convertible to common stock for cash payment					$ 700,000
Debt instrument convertible to common stock | shares					200,000
0.25% Convertible Senior Notes Due 2022 [Member] | Warrants [Member]
Debt Instrument [Line Items]
Debt instrument convertible to common stock | shares					1,300,000
0.25% Convertible Senior Notes Due 2022 [Member] | Subsequent Event [Member]
Debt Instrument [Line Items]
Debt instrument convertible, principal amount	$ 2,800,000
0.25% Convertible Senior Notes Due 2022 [Member] | Private Offering [Member]
Debt Instrument [Line Items]
Principal amount of long term debt			$ 350,000,000
0.25% Convertible Senior Notes Due 2022 [Member] | Over-Allotment Options [Member]
Debt Instrument [Line Items]
Principal amount of long term debt			$ 50,000,000
0.25% Convertible Senior Notes Due 2022 [Member] | Maximum [Member]
Debt Instrument [Line Items]
Percentage of closing price to trigger debt conversion					130.00%

Convertible Senior Notes - Sche

Convertible Senior Notes - Schedule of Net Carrying Amount of Liability Component (Detail) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Net carrying amount	$ 378,795	$ 471,099
0.375%Convertible Senior Notes Due 2025 as Liability Component [Member]
Debt Instrument [Line Items]
Principal	460,000	460,000
Unamortized debt discount	(75,291)	(88,756)
Unamortized issuance costs	(5,914)	(6,973)
Net carrying amount	378,795	364,271
0.25% Convertible Senior Notes Due 2022 as Liability Component [Member]
Debt Instrument [Line Items]
Principal	22,207	125,839
Unamortized debt discount	(875)	(10,397)
Unamortized issuance costs	(63)	(777)
Net carrying amount	$ 21,269	$ 114,665

Convertible Senior Notes - Sc_2

Convertible Senior Notes - Schedule of Net Carrying Amount of Equity Component (Detail) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
0.375% Convertible Senior Notes Due 2025 as Equity Component [Member]
Debt Instrument [Line Items]
Debt discount for conversion option	$ 98,730	$ 98,730
Issuance costs	(2,120)	(2,120)
Net carrying amount	96,610	96,610
0.25%Convertible Senior Notes Due 2022 as Equity Component [Member]
Debt Instrument [Line Items]
Debt discount for conversion option	5,885	33,349
Issuance costs	(158)	(898)
Net carrying amount	$ 5,727	$ 32,451

Convertible Senior Notes - Sc_3

Convertible Senior Notes - Schedule of Interest Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
0.375% Convertible Senior Notes Due 2025 [Member]
Debt Instrument [Line Items]
Contractual interest expense	$ 431	$ 431	$ 1,294	$ 556
Amortization of debt discount	4,573	4,320	13,474	5,538
Amortization of issuance costs	359	339	1,059	435
Total interest expense	5,363	5,090	15,827	6,529
0.25% Convertible Senior Notes Due 2022 [Member]
Debt Instrument [Line Items]
Contractual interest expense	26	80	142	534
Amortization of debt discount	623	1,737	3,333	11,366
Amortization of issuance costs	47	130	249	849
Total interest expense	$ 696	$ 1,947	$ 3,724	$ 12,749

Leases - Additional Information

Leases - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Lessee Lease Description [Line Items]
Operating leases right-of-use assets additions	$ 40,300		$ 40,300
Operating leases lease liabilities additions	$ 38,400		$ 38,400
Weighted average discount rate for operating leases	4.50%		4.50%
Operating lease expense costs	$ 12,700	$ 11,900	$ 36,700	$ 32,600
Cash payments for operating lease liabilities	12,300	$ 11,600	38,500	$ 31,400
Gain on termination of lease			4,276
Loss on disposal of fixed assets			$ 6,468
Net loss on disposal of fixed assets and gain on terminal of leases	2,200
Cambridge, Massachusetts [Member]
Lessee Lease Description [Line Items]
Gain on termination of lease	4,300
Loss on disposal of fixed assets	$ 6,500

Leases - Schedule of Operating

Leases - Schedule of Operating Sublease Income Generated under Operating Lease Agreements (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Leases [Abstract]
Operating sublease income	$ 1,236	$ 1,112	$ 3,742	$ 3,840

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Millions	1 Months Ended	9 Months Ended
	Oct. 31, 2021	Sep. 30, 2021
Commitments and Contingencies [Line Items]
Improvement reimbursements from landlords		$ 24.2
Increase in future lease commitments		$ 85.8
Subsequent Event [Member]
Commitments and Contingencies [Line Items]
Increase in future lease commitments	$ 4.9
Lease terms	5 years
New lease commencement period	2022-04

Commitments and Contingencies_2

Commitments and Contingencies - Schedule of Future Minimum Payments (Detail) $ in Thousands	Sep. 30, 2021USD ($)
Commitments and Contingencies Disclosure [Abstract]
Operating, Remainder of 2021	$ 11,604
Operating, 2022	43,745
Operating, 2023	42,343
Operating, 2024	41,062
Operating, 2025	41,035
Operating, Thereafter	214,508
Total	$ 394,297

Commitments and Contingencies_3

Commitments and Contingencies - Schedule of Future Minimum Payments Under Non-Cancelable Arrangements (Details) $ in Thousands	Sep. 30, 2021USD ($)
Product Related Obligations [Member]
Long-term Purchase Commitment [Line Items]
Remainder of 2021	$ 26,092
Non-cancelable arrangements, 2022	133,062
Non-cancelable arrangements, 2023	150,404
Non-cancelable arrangements, 2024	171,250
Non-cancelable arrangements, 2025	195,000
Non-cancelable arrangements, Thereafter	407,500
Purchase Obligation, Total	1,083,308
INBOUND Event Obligations [Member]
Long-term Purchase Commitment [Line Items]
Non-cancelable arrangements, 2022	1,320
Non-cancelable arrangements, 2023	973
Non-cancelable arrangements, 2024	4
Non-cancelable arrangements, 2025	4
Purchase Obligation, Total	$ 2,301

Business Acquisition - Addition

Business Acquisition - Additional Information (Detail) - USD ($) $ in Thousands	Feb. 09, 2021	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Business Acquisition [Line Items]
Cash purchase price for the acquisition, net of cash acquired				$ 16,810
Income tax benefit		$ 1,117	$ 926	$ 2,639	$ 2,603
Hustle Con Media, Inc. [Member]
Business Acquisition [Line Items]
Acquisition effective date				Feb. 9, 2021
Business acquisition, description of acquired entity				On February 9, 2021, the Company acquired 100% of the equity interests of Hustle Con Media, Inc. (the “Hustle”), a media company that produces a newsletter, podcast, and premium research content for innovative professionals.
Percentage of equity interests acquired	100.00%
Cash purchase price for the acquisition, net of cash acquired	$ 17,200
Payments to acquire businesses, working capital adjustment	400
Net deferred tax liability	1,042
Income tax benefit	1,000
Hustle Con Media, Inc. [Member] | Customer Relationships [Member]
Business Acquisition [Line Items]
Business acquisition, fair value of customer relationships	$ 2,400
Business acquisition, estimated useful life of customer relationships	7 years

Business Acquisition - Summary

Business Acquisition - Summary of Fair Value of Assets Acquired and Liabilities Assumed (Detail) - USD ($) $ in Thousands	Sep. 30, 2021	Feb. 09, 2021	Dec. 31, 2020
Business Acquisition [Line Items]
Goodwill	$ 47,404		$ 31,318
Hustle Con Media, Inc. [Member]
Business Acquisition [Line Items]
Cash		$ 3,089
Accounts receivable		1,153
Other current and noncurrent assets		835
Current backlog asset		677
Customer relationships		2,400
Goodwill		16,987
Accounts payable, accrued expenses, and other liabilities		(2,975)
Deferred revenue		(825)
Deferred tax liability		(1,042)
Total purchase price		$ 20,299

Changes in Stockholders' Equi_3

Changes in Stockholders' Equity - Summary of Changes in Stockholders' Equity (Detail) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Class Of Stock [Line Items]
Beginning Balance, Amount	$ 805,684	$ 723,051	$ 762,655	$ 649,958	$ 762,655	$ 649,958
Issuance of common stock under stock plans, net of shares withheld for employee taxes	1,233	1,469	17,260	13,021
Restricted stock units taxes paid in cash	(4,814)	(2,454)
Stock-based compensation	45,811	31,526	77,606	59,769
Settlement of Convertible Note Hedges	2		724
Purchase of Capped Call Options				(50,600)
Cumulative translation adjustment	(1,600)	2,049	(1,955)	82
Unrealized gain (loss) on investments, net of income taxes of ($43), ($1), ($76) and ($15)	(37)	(279)	(420)	715
Net loss	(13,735)	(22,498)	(47,731)	(47,117)	(61,466)	(69,615)
Ending Balance, Amount	831,993	732,864	805,684	723,051	831,993	732,864
0.25% Convertible Senior Notes Due 2022 as Liability Component [Member]
Class Of Stock [Line Items]
Equity component of the 2022 Notes conversions	(551)		(2,455)
Equity component of notes payable, net of issuance costs & repayment				613
0.375%Convertible Senior Notes Due 2025 as Liability Component [Member]
Class Of Stock [Line Items]
Equity component of notes payable, net of issuance costs & repayment				96,610
Common Stock [Member]
Class Of Stock [Line Items]
Beginning Balance, Amount	$ 47	$ 46	$ 46	$ 44	$ 46	$ 44
Beginning Balance, Shares	46,859	45,386	46,115	42,955	46,115	42,955
Issuance of common stock under stock plans, net of shares withheld for employee taxes	$ 245		$ 1
Issuance of common stock under stock plans, net of shares withheld for employee taxes, Shares		315	746	836
Settlement of Convertible Note Hedges	$ (1)
Settlement of Convertible Note Hedges, Shares	(410)		(473)
Ending Balance, Amount	$ 47	$ 46	$ 47	$ 46	$ 47	$ 46
Ending Balance, Shares	47,106	45,701	46,859	45,386	47,106	45,701
Common Stock [Member] | 0.25% Convertible Senior Notes Due 2022 as Liability Component [Member]
Class Of Stock [Line Items]
Equity component of the 2022 Notes conversions	$ 1
Equity component of the 2022 Notes conversions, Shares	412		471
Equity component of notes payable, net of issuance costs & repayment				$ 2
Equity component of notes payable, net of issuance costs & repayment, Shares				1,595
Treasury Stock [Member]
Class Of Stock [Line Items]
Beginning Balance, Shares	485		12		12
Settlement of Convertible Note Hedges	$ (1)
Settlement of Convertible Note Hedges, Shares	410		473
Ending Balance, Amount	$ (1)				$ (1)
Ending Balance, Shares	895		485		895
Additional Paid-In Capital [Member]
Class Of Stock [Line Items]
Beginning Balance, Amount	$ 1,334,301	$ 1,167,791	$ 1,241,167	$ 1,048,380	$ 1,241,167	$ 1,048,380
Issuance of common stock under stock plans, net of shares withheld for employee taxes	1,233	1,469	17,259	13,021
Restricted stock units taxes paid in cash	(4,814)	(2,454)
Stock-based compensation	45,811	31,526	77,606	59,769
Settlement of Convertible Note Hedges	3		724
Purchase of Capped Call Options				(50,600)
Ending Balance, Amount	1,375,982	1,198,332	1,334,301	1,167,791	1,375,982	1,198,332
Additional Paid-In Capital [Member] | 0.25% Convertible Senior Notes Due 2022 as Liability Component [Member]
Class Of Stock [Line Items]
Equity component of the 2022 Notes conversions	(552)		(2,455)
Equity component of notes payable, net of issuance costs & repayment				611
Additional Paid-In Capital [Member] | 0.375%Convertible Senior Notes Due 2025 as Liability Component [Member]
Class Of Stock [Line Items]
Equity component of notes payable, net of issuance costs & repayment				96,610
Accumulated Other Comprehensive Income (Loss) [Member]
Class Of Stock [Line Items]
Beginning Balance, Amount	2,228	461	4,603	(336)	4,603	(336)
Cumulative translation adjustment	(1,600)	2,049	(1,955)	82
Unrealized gain (loss) on investments, net of income taxes of ($43), ($1), ($76) and ($15)	(37)	(279)	(420)	715
Ending Balance, Amount	591	2,231	2,228	461	591	2,231
Accumulated Deficit [Member]
Class Of Stock [Line Items]
Beginning Balance, Amount	(530,892)	(445,247)	(483,161)	(398,130)	(483,161)	(398,130)
Net loss	(13,735)	(22,498)	(47,731)	(47,117)
Ending Balance, Amount	$ (544,627)	$ (467,745)	$ (530,892)	$ (445,247)	$ (544,627)	$ (467,745)

Changes in Stockholders' Equi_4

Changes in Stockholders' Equity - Summary of Changes in Stockholders' Equity (Parenthetical) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Stockholders' Equity Note [Abstract]
Unrealized gain (loss) on investments, tax	$ (1)	$ (15)	$ (43)	$ (76)

Changes in Accumulated Other _3

Changes in Accumulated Other Comprehensive Loss - Changes in Accumulated Other Comprehensive Loss (Detail) $ in Thousands	9 Months Ended
	Sep. 30, 2021USD ($)
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance, Amount	$ 762,655
Other comprehensive loss before reclassifications	(4,012)
Ending Balance, Amount	831,993
Cumulative Translation Adjustment [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance, Amount	4,180
Other comprehensive loss before reclassifications	(3,555)
Ending Balance, Amount	625
Unrealized Gain on Investments [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance, Amount	423
Other comprehensive loss before reclassifications	(457)
Ending Balance, Amount	34
Accumulated Other Comprehensive Loss [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance, Amount	4,603
Ending Balance, Amount	$ 591

Stock-Based Compensation Expe_3

Stock-Based Compensation Expense - Schedule of Stock-Based Compensation Expense by Award Type (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	$ 44,988	$ 31,186	$ 120,847	$ 90,022
Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	1,407	1,576	4,575	4,983
RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	41,053	27,259	109,488	80,054
ESPP [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	$ 2,528	$ 2,351	$ 6,784	$ 4,985

Stock-Based Compensation Expe_4

Stock-Based Compensation Expense - Effect of Stock-Based Compensation on Income by Line Item (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	$ 44,988	$ 31,186	$ 120,847	$ 90,022
Cost of Revenue, Subscription [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	1,660	1,140	4,556	3,114
Cost of Revenue, Professional Services and Other [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	748	652	2,270	1,885
Research and Development [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	18,449	10,244	45,014	29,063
Sales and Marketing [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	17,302	13,300	49,902	36,984
General and Administrative [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	$ 6,829	$ 5,850	$ 19,105	$ 18,976

Stock-Based Compensation Expe_5

Stock-Based Compensation Expense - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Capitalized Software and PP&E [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Capitalized software development costs excluded from stock based compensation	$ 1.6	$ 0.9	$ 4.7	$ 2.7

Segment Information and Geogr_3

Segment Information and Geographic Data - Additional Information (Detail) - Segment	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Segment Reporting Information [Line Items]
Number of operating segment			1
Revenue [Member] | Outside Of United States [Member] | Geographic Concentration Risk [Member]
Segment Reporting Information [Line Items]
Concentration risk, percentage	46.00%	44.00%	46.00%	42.00%

Segment Information and Geogr_4

Segment Information and Geographic Data - Revenues by Geographical Region (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Segment Reporting Information [Line Items]
Total revenues	$ 339,195	$ 228,385	$ 931,349	$ 630,961
Americas [Member]
Segment Reporting Information [Line Items]
Total revenues	207,244	145,221	571,842	410,080
Europe [Member]
Segment Reporting Information [Line Items]
Total revenues	102,676	64,128	279,412	171,357
Asia Pacific [Member]
Segment Reporting Information [Line Items]
Total revenues	$ 29,275	$ 19,036	$ 80,095	$ 49,524
Revenue [Member] | Outside Of Americas [Member] | Geographic Concentration Risk [Member]
Segment Reporting Information [Line Items]
Percentage of revenues generated outside of the Americas	39.00%	36.00%	39.00%	35.00%

Segment Information and Geogr_5

Segment Information and Geographic Data - Long Lived Assets by Geographical Region (Detail) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Segment Reporting Information [Line Items]
Total long lived assets	$ 380,000	$ 377,016
Americas [Member]
Segment Reporting Information [Line Items]
Total long lived assets	226,627	206,789
Europe [Member]
Segment Reporting Information [Line Items]
Total long lived assets	144,565	159,338
Asia Pacific [Member]
Segment Reporting Information [Line Items]
Total long lived assets	$ 8,808	$ 10,889
Outside Of Americas [Member] | Assets Total [Member] | Geographic Concentration Risk [Member]
Segment Reporting Information [Line Items]
Concentration Risk, Percentage	40.00%	45.00%