HubSpot (HUBS) 10-Q 5 May 22 2022 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2022	Apr. 29, 2022
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
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		47,769,055

Unaudited Consolidated Balance

Unaudited Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 408,433	$ 377,013
Short-term investments	826,449	820,962
Accounts receivable - net of allowance for doubtful accounts of $1,836 and $1,768 at March 31, 2022 and December 31, 2021, respectively	152,729	157,362
Deferred commission expense	63,210	59,849
Prepaid expenses and other current assets	40,260	38,388
Total current assets	1,491,081	1,453,574
Long-term investments	195,045	174,895
Property and equipment, net	102,751	96,134
Capitalized software development costs, net	44,020	39,858
Right-of-use assets	276,548	280,828
Deferred commission expense, net of current portion	47,181	42,681
Other assets	39,918	29,244
Intangible assets, net	9,988	10,565
Goodwill	46,770	47,075
Total assets	2,253,302	2,174,854
Current liabilities:
Accounts payable	8,321	2,773
Accrued compensation costs	60,595	63,836
Accrued expenses and other current liabilities	84,825	74,457
Convertible senior notes	19,367	19,630
Operating lease liabilities	30,947	26,364
Deferred revenue	457,916	430,414
Total current liabilities	661,971	617,474
Operating lease liabilities, net of current portion	278,056	283,873
Deferred revenue, net of current portion	4,700	4,473
Other long-term liabilities	21,992	12,134
Convertible senior notes, net of current portion	452,747	383,101
Total liabilities	1,419,466	1,301,055
Commitments and contingencies (Note 10)
Stockholders’ equity:
Common stock	48	47
Additional paid-in capital	1,378,457	1,436,089
Accumulated other comprehensive loss	(5,696)	(1,339)
Accumulated deficit	(538,973)	(560,998)
Total stockholders’ equity	833,836	873,799
Total liabilities and stockholders’ equity	$ 2,253,302	$ 2,174,854

Unaudited Consolidated Balanc_2

Unaudited Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Accounts receivable, net of allowance for doubtful accounts	$ 1,836	$ 1,768

Unaudited Consolidated Statemen

Unaudited Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Revenues:
Total revenue	$ 395,599	$ 281,365
Cost of revenues:
Total cost of revenues	72,936	54,734
Gross profit	322,663	226,631
Operating expenses:
Research and development	92,736	68,396
Sales and marketing	197,134	141,017
General and administrative	43,947	32,250
Total operating expenses	333,817	241,663
Loss from operations	(11,154)	(15,032)
Other expense:
Interest income	515	475
Interest expense	(950)	(9,399)
Other income	3,692	660
Total other income (expense)	3,257	(8,264)
Loss before income tax expense	(7,897)	(23,296)
Income tax (expense) benefit	(1,444)	137
Net loss	$ (9,341)	$ (23,159)
Net loss per share, basic and diluted	$ (0.20)	$ (0.50)
Weighted average common shares used in computing basic and diluted net loss per share:	47,577	46,428
Subscription [Member]
Revenues:
Total revenue	$ 384,956	$ 270,263
Cost of revenues:
Total cost of revenues	59,384	43,853
Professional Services and Other [Member]
Revenues:
Total revenue	10,643	11,102
Cost of revenues:
Total cost of revenues	$ 13,552	$ 10,881

Unaudited Consolidated Statem_2

Unaudited Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement of Comprehensive Income [Abstract]
Net loss	$ (9,341)	$ (23,159)
Other comprehensive loss:
Foreign currency translation adjustment	(356)	(2,489)
change in unrealized loss on investments ,net of income taxes of $0 for the three months ended march 31,2022 and ($36) for the three months ended march 31,2021	(4,001)	(240)
Comprehensive loss	$ (13,698)	$ (25,888)

Unaudited Consolidated Statem_3

Unaudited Consolidated Statements of Comprehensive Loss (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement of Comprehensive Income [Abstract]
Changes in unrealized (loss) gain on investments, income taxes	$ 0	$ 36

Unaudited Consolidated Statem_4

Unaudited Consolidated Statements of Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands	Total	0.375%Convertible Senior Notes Due 2025 as Liability Component [Member]	0.25% Convertible Senior Notes Due 2022 as Liability Component [Member]	Common Stock [Member]	Common Stock [Member]0.25% Convertible Senior Notes Due 2022 as Liability Component [Member]	Treasury Stock [Member]	Additional Paid-In Capital [Member]	Additional Paid-In Capital [Member]0.375%Convertible Senior Notes Due 2025 as Liability Component [Member]	Additional Paid-In Capital [Member]0.25% Convertible Senior Notes Due 2022 as Liability Component [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Accumulated Deficit [Member]
Beginning Balance, Amount at Dec. 31, 2020	$ 762,655			$ 46			$ 1,241,167			$ 4,603	$ (483,161)
Beginning Balance, Shares at Dec. 31, 2020				46,115		12
Issuance of common stock under stock plans, net of shares withheld for employee taxes	6,583			$ 1			6,582
Issuance of common stock under stock plans, net of shares withheld for employee taxes, Shares				482
Stock-based compensation	32,947						32,947
Equity component of the 2022 Notes conversions			$ (2,307)						$ (2,307)
Equity component of the 2022 Notes conversions, Shares					363
Settlement of Convertible Note Hedges	724						724
Settlement of Convertible Note Hedges, Shares				(364)		364
Cumulative translation adjustment	(2,489)									(2,489)
Unrealized gain (loss) on investments, net of income taxes of $0, and ($36)	(240)									(240)
Net loss	(23,159)										(23,159)
Ending Balance, Amount at Mar. 31, 2021	774,714			$ 47			1,279,113			1,874	(506,320)
Ending Balance, Shares at Mar. 31, 2021				46,596		376
Beginning Balance, Amount at Dec. 31, 2021	873,799			$ 47			1,436,089			(1,339)	(560,998)
Beginning Balance, Shares at Dec. 31, 2021				47,390		910
Issuance of common stock under stock plans, net of shares withheld for employee taxes	2,145			$ 1			2,144
Issuance of common stock under stock plans, net of shares withheld for employee taxes, Shares				250
Restricted stock units taxes paid in cash	(4,354)						(4,354)
Stock-based compensation	46,436						46,436
Conversion of the 2025 Notes		$ (691)						$ (691)
Cumulative adjustment from adoption of convertible debt standard (Note 8)	(69,801)						(101,167)				31,366
Cumulative translation adjustment	(356)									(356)
Unrealized gain (loss) on investments, net of income taxes of $0, and ($36)	(4,001)									(4,001)
Net loss	(9,341)										(9,341)
Ending Balance, Amount at Mar. 31, 2022	$ 833,836			$ 48			$ 1,378,457			$ (5,696)	$ (538,973)
Ending Balance, Shares at Mar. 31, 2022				47,640		910

Unaudited Consolidated Statem_5

Unaudited Consolidated Statements of Stockholders' Equity (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement of Stockholders' Equity [Abstract]
Unrealized gain (loss) on investments, tax	$ 0	$ (36)

Unaudited Consolidated Statem_6

Unaudited Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Operating Activities:
Net loss	$ (9,341)	$ (23,159)
Adjustments to reconcile net loss to net cash and cash equivalents provided by operating activities, net of acquisitions
Depreciation and amortization	12,798	11,208
Stock-based compensation	45,704	32,423
Loss on early extinguishment of 2022 Convertible Notes		2,406
Repayment of 2022 Convertible Notes attributable to the debt discount		(9,805)
Gain on strategic investments	(4,221)
Benefit from deferred income taxes	(246)	(1,006)
Amortization of debt discount and issuance costs	507	6,493
Amortization of bond discount	585	515
Unrealized currency translation	703	(49)
Changes in assets and liabilities
Accounts receivable	3,552	16,475
Prepaid expenses and other assets	(3,927)	2,715
Deferred commission expense	(8,354)	(6,305)
Right-of-use assets	6,528	10,354
Accounts payable	3,625	4,598
Accrued expenses and other liabilities	7,135	(2,429)
Operating lease liabilities	(2,318)	(9,272)
Deferred revenue	29,496	27,538
Net cash and cash equivalents provided by operating activities	82,226	62,700
Investing Activities:
Purchases of investments	(435,547)	(362,288)
Maturities of investments	405,219	376,918
Purchases of property and equipment	(9,940)	(3,967)
Acquisition of a business, net of cash acquired		(16,810)
Purchases of strategic investments	(5,046)	(1,850)
Equity method investment		(2,308)
Capitalization of software development costs	(9,722)	(7,341)
Net cash and cash equivalents used in investing activities	(55,036)	(17,646)
Financing Activities:
Proceeds from settlement of Convertible Note Hedges related to the 2022 Convertible Notes		723
Employee taxes paid related to the net share settlement of stock-based awards	(4,354)	(2,964)
Proceeds related to the issuance of common stock under stock plans	11,852	16,339
Net cash and cash equivalents provided by(used in) financing activities	5,879	(21,802)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	(1,649)	(3,877)
Net increase in cash, cash equivalents and restricted cash	31,420	19,375
Cash, cash equivalents and restricted cash, beginning of period	380,042	381,152
Cash, cash equivalents and restricted cash, end of period	411,462	400,527
Supplemental cash flow disclosure:
Cash paid for income taxes	1,683	2,215
Right-of-use assets obtained in exchange for operating lease liabilities	3,754	1,276
Non-cash investing and financing activities:
Issuance of common stock for repayment of 2022 Convertible Notes		155,250
Capital expenditures incurred but not yet paid	2,287	626
Asset retirement obligations	1,188
2022 Notes [Member]
Financing Activities:
Repayment of Convertible Notes attributable to the principal		$ (35,900)
2025 Notes [Member]
Financing Activities:
Repayment of Convertible Notes attributable to the principal	$ (1,619)

Organization and Operations

Organization and Operations	3 Months Ended
	Mar. 31, 2022
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, tools, and a native payment solution, 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, 2021, 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, 2022. 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 14, 2022. 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, except the adoption of updated guidance related to accounting for convertible debt as described within Note 2 of these consolidated financial statements. In February 2022, Russian forces launched a military invasion of Ukraine. While the broader implications of the conflict on the Company's results of operations and overall financial performance remain uncertain, the Company assessed the potential impact on the March 31, 2022 financial statements and determined there were no material adjustments necessary 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 Company adopted the updated guidance as of January 1, 2022 using a modified retrospective method with a cumulative-effect adjustment as of the adoption date. Comparative periods are not adjusted. See Note 8 of these consolidated financial statements for further details. In October 2021, the FA SB issued guidance that requires companies to recognize and measure contract assets and contract liabilities acquired in a business combination, in accordance with the revenue recognition guidance, as if the acquirer had entered into the original contract at the same time and on the same terms as the acquiree. Generally, this will result in the acquirer recognizing contract assets and liabilities at the same amounts recorded by the acquiree as of the acquisition date. Under the previous standard, an acquirer generally recognizes such items at fair value on the acquisition date. The Company adopted the updated guidance as of January 1, 2022 and the ongoing impact of this guidance will depend on the contract assets and liabilities acquired in future business combinations.

Revenues

Revenues	3 Months Ended
	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
Revenues	2. Revenues D isaggregation of Revenue The Company provides disaggregation of revenue based on geographic region (Note 13) 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 three months ended March 31, 2022 increased by $ 27.7 million resulting from $ 423.3 million of additional invoicing and was offset by revenue recognized of $ 395.6 million during the same period. $ 227.1 million of revenue was recognized during the three months ended March 31, 2022 that was included in deferred revenue at the beginning of the period. As of March 31, 2022, approximately $ 406.9 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 $ 2.9 million and $ 2.5 were included in accrued expenses and other current liabilities on the consolidated balance sheet as of March 31, 2022 and December 31, 2021. 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 March 31, 2022 increased by $ 7.9 million as a result of deferring incremental costs of obtaining a contract of $ 26.7 million and was offset by amortization of $ 18.8 million during the same period.

Net Loss per Share

Net Loss per Share	3 Months Ended
	Mar. 31, 2022
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 8), the Conversion Option of the 2022 Notes, and the Conversion Option of the 2025 Notes (the “Conversion Options”) (Note 8) 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 March 31, 2022 2021 Net loss $ ( 9,341 ) $ ( 23,159 ) Weighted-average common shares outstanding — basic 47,577 46,428 Dilutive effect of share equivalents resulting from stock — — Weighted-average common shares, outstanding — diluted 47,577 46,428 Net loss per share, basic and diluted $ ( 0.20 ) $ ( 0.50 ) 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 uses the treasury stock method and the average market price per share during the period for calculating any potential dilutive effect of the Warrants. The average stock price for the three months ended March 31, 2022 was $ 484.47 . The Company uses the if-converted method when calculating any potential dilutive effect of the Conversion Options, which assumes conversion of outstanding convertible securities at the beginning of the reporting period or date of issuance, if the convertible security was issued during the period. 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 March 31, 2022 was equal to or greater than 130 % of the applicable 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 ending June 30, 2022. During the quarter ended March 31, 2022 , upon the election of the holders to convert, the Company settled $ 0.9 million of principal balance of the 2025 Notes in cash. Between the end of the most recently completed fiscal quarter and April 29, 2022, the Company has no t received additional conversion notices. 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 the 2022 Notes at any time. In the quarter ended March 31, 2022 and through April 29, 2022, the Company did no t receive any conversion notices. As of March 31, 2022, $ 19.4 million of principal remains outstanding on the 2022 Notes. For disclosure purposes, 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 March 31, 2022 2021 (in thousands) Options to purchase common shares 527 769 RSUs 1,145 1,451 Conversion Option of the 2022 Notes and Warrants 1,232 1,957 Conversion Option of the 2025 Notes 1,627 581 ESPP — 10

Fair Value of Financial Instrum

Fair Value of Financial Instruments	3 Months Ended
	Mar. 31, 2022
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 March 31, 2022 and December 31, 2021: March 31, 2022 Level 1 Level 2 Level 3 Total (in thousands) Cash equivalents and investments: Money market funds $ 100,250 $ — $ — $ 100,250 Commercial paper — 25,667 — 25,667 Corporate bonds — 252,545 — 252,545 U.S. Government agency securities — 28,528 — 28,528 U.S. Treasury securities — 714,754 — 714,754 Restricted cash: Money market funds — 3,029 — 3,029 Total $ 100,250 $ 1,024,523 $ — $ 1,124,773 December 31, 2021 Level 1 Level 2 Level 3 Total (in thousands) Cash equivalents and investments: Money market funds $ 125,940 $ — $ — $ 125,940 Commercial paper — 28,337 — 28,337 Corporate bonds — 249,846 — 249,846 U.S. Government agency securities — 22,466 — 22,466 U.S. Treasury securities — 698,300 — 698,300 Restricted cash: Money market funds — 3,029 — 3,029 Total $ 125,940 $ 1,001,978 $ — $ 1,127,918 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 March 31, 2022 and December 31, 2021, 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 March 31, 2022, the fair value of the 2022 Notes was $ 96.9 million and the fair value of the 2025 Notes was $ 821.4 million . 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 $ 28.1 million of strategic investments without readily determinable fair values at March 31, 2022 and $ 17.8 million of strategic investments without readily determinable fair values at December 31, 2021. These investments are included in prepaid and other current assets and other assets on the consolidated balance sheets. During the three months ended March 31, 2022 , an acquisition of an entity in which the Company held a strategic investment was completed, which resulted in an observable price change. The Company adjusted the fair value of its investment and recognized a gain of $ 4.2 million reported in the consolidated statements of operations as other income. There were no other adjustments to the carrying value of the strategic investments resulting from impairments or observable price changes in the three months ended March 31, 2022. The following tables summarize the composition of our short- and long-term investments at March 31, 2022 and December 31, 2021. March 31, 2022 Amortized Unrealized Unrealized Aggregate (in thousands) Commercial paper $ 25,667 $ — $ — $ 25,667 Corporate bonds 255,441 1 ( 2,897 ) 252,545 U.S. Government agency securities 28,981 — ( 453 ) 28,528 U.S. Treasury securities 716,187 5 ( 1,438 ) 714,754 Total $ 1,026,276 $ 6 $ ( 4,788 ) $ 1,021,494 December 31, 2021 Amortized Unrealized Unrealized Aggregate (in thousands) Commercial paper $ 25,245 $ — $ — $ 25,245 Corporate bonds 250,443 9 ( 606 ) 249,846 U.S. Government agency securities 22,504 — ( 38 ) 22,466 U.S. Treasury securities 698,446 2 ( 148 ) 698,300 Total $ 996,638 $ 11 $ ( 792 ) $ 995,857 For all of our securities for which the amortized cost basis was greater than the fair value at March 31, 2022, 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 March 31, 2022 and December 31, 2021 are as follows: March 31, 2022 December 31, 2021 Amortized Aggregate Amortized Aggregate (in thousands) (in thousands) Due within one year $ 827,789 $ 826,449 $ 821,101 $ 820,962 Due after 1 year through 2 years 198,487 195,045 175,537 174,895 Total $ 1,026,276 $ 1,021,494 $ 996,638 $ 995,857

Restricted cash

Restricted cash	3 Months Ended
	Mar. 31, 2022
Cash and Cash Equivalents [Abstract]
Restricted cash	5. 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 March 31, 2022 and 2021. March 31, 2022 March 31, 2021 December 31, 2021 (in thousands) Cash and cash equivalents $ 408,433 $ 397,498 $ 377,013 Restricted cash, included in other assets 3,029 3,029 3,029 Total cash, cash equivalents, and restricted cash $ 411,462 $ 400,527 $ 380,042

Property and Equipment, Net

Property and Equipment, Net	3 Months Ended
	Mar. 31, 2022
Property, Plant and Equipment [Abstract]
Property and Equipment, Net	6. Property and Equipment, Net Property and equipment, net consists of the following: March 31, 2022 December 31, 2021 (in thousands) Computer equipment and purchased software $ 16,108 $ 15,524 Employee related computer equipment 36,700 32,230 Furniture and fixtures 20,182 20,180 Leasehold improvements 95,679 90,070 Internal-use software 22,676 20,616 Construction in progress 3,854 4,141 Total property and equipment 195,199 182,761 Less accumulated depreciation ( 92,448 ) ( 86,627 ) Property and equipment, net $ 102,751 $ 96,134 Depreciation and amortization expense on property and equipment was $ 6.3 million for the three months ended March 31, 2022 and $ 6.0 million for the three months ended March 31, 2021 .

Capitalized Software Developmen

Capitalized Software Development Costs	3 Months Ended
	Mar. 31, 2022
Research and Development [Abstract]
Capitalized Software Development Costs	7. Capitalized Software Development Costs Capitalized software development costs, exclusive of those recorded within property and equipment, consisted of the following: March 31, 2022 December 31, 2021 (in thousands) Gross capitalized software development costs $ 132,595 $ 122,592 Accumulated amortization ( 88,575 ) ( 82,734 ) Capitalized software development costs, net $ 44,020 $ 39,858 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 $ 7.1 million for the three months ended March 31, 2022 and $ 4.9 million for three months ended March 31, 2021 .

Convertible Senior Notes

Convertible Senior Notes	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Convertible Senior Notes	8. Convertible Senior Notes Adoption of Updated Debt Guidance On January 1, 2022, the Company adopted the new guidance for convertible instruments using a modified retrospective method. Results for reporting periods beginning after December 31, 2021 are presented under the new guidance, while prior period comparative amounts are not adjusted and continue to be reported in accordance with historical guidance. The new guidance eliminates the bifurcation and separate recognition of the embedded cash conversion feature from the host contract and allows for the entire amount attributable to the debt to be presented as a liability. The carrying amount of the debt liability will be reduced by the issuance costs associated with the debt issuance as a contra-liability. As there is no longer an equity component of the convertible debt, the discount created by accretion of a component of the convertible debt in equity is eliminated and interest expense is reduced. The deferred tax liability recognized as a result of a difference between the carrying amount and tax basis of the 2022 Notes that was recorded to additional paid-in capital as a component of equity was also reversed. There is no change in the accounting for the Capped Call Options, Warrants, or Convertible Note Hedges as they are classified as equity under both the historical and new guidance. As a result of the impact of applying the new guidance, the Company recorded an increase to opening retained earnings of $ 31.4 million as of January 1, 2022, related to the difference in interest expense due to the amortization of the convertible debt discount and reversal of the deferred tax liability under the historical guidance. The resulting impact on the consolidated balance sheet to derecognize the debt issuance cost and conversion option that was allocated to the equity component and to derecognize the remaining convertible debt discount was an increase to debt liability of $ 69.8 million, of which $ 0.5 million was recorded to short term debt and $ 69.3 million was recorded to long-term debt, and a decrease in additional paid-in capital of $ 101.2 million. 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. The interest rate is fixed at 0.375 % per annum and is payable semi-annually in arrears on June 1 and December 1 of each year. The total net proceeds from the debt offering, after deducting initial purchase discounts and debt issuance costs, were approximately $ 450.1 million. 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 March 31, 2022 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 June 30, 2022. During the three months ended March 31, 2022 , upon the election of the holders to convert, the Company settled $ 0.9 million of principal balance of the 2025 Notes in cash. Between the end of the most recently completed fiscal quarter and April 29, 2022, the Company has no t received additional conversion notices. In accordance with GAAP relating to the embedded conversion feature, the Company bifurcated the conversion feature associated with the 2025 Notes and recorded $ 96.6 million to additional paid-in capital for the conversion feature and the resulting debt discount was being amortized to interest expense. As there is no longer an equity component of the convertible debt under the new standard, the debt issuance cost and conversion option that was allocated to the equity component was derecognized through an adjustment to opening retained earnings. The net carrying amount of the liability component of the 2025 Notes is as follows: As of March 31, 2022 As of December 31, 2021 (in thousands) Principal $ 459,083 $ 459,999 Unamortized debt discount — ( 70,594 ) Unamortized issuance costs ( 6,336 ) ( 5,544 ) Net carrying amount $ 452,747 $ 383,861 Interest expense related to the 2025 Notes is as follows: Three Months Ended March 31, 2022 2021 (in thousands) Contractual interest expense $ 431 $ 431 Amortization of debt discount — 4,391 Amortization of issuance costs 481 345 Total interest expense $ 912 $ 5,167 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 is 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 $ 350.0 million aggregate principal amount of 0.25 % convertible senior notes due June 1, 2022 (the “2022 Notes”) in a private offering and an additional $ 50 million aggregate principal amount of the 2022 Notes pursuant to the exercise in full of the over-allotment options of the initial purchasers. of the 2022 Notes. The interest rate is fixed at 0.25 % per annum and is payable semi-annually in arrears on June 1 and December 1 of each year. The total net proceeds from the debt offering, after deducting initial purchase discounts and debt issuance costs, were approximately $ 389.2 million. Each $ 1,000 principal amount of the 2022 Notes are currently convertible into 10.5519 shares of the Company’s common stock (the “Conversion Option of the 2022 Notes”), which is equivalent to an initial conversion price of approximately $ 94.77 per share, 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. 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. In the quarter ended March 31, 2022 and through April 29, 2022, the Company did not receive any conversion notices. The 2022 Notes are classified as short-term debt. As of March 31, 2022, $ 19.4 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. As of March 31, 2022 , 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. In accordance with GAAP relating to the embedded conversion feature, the Company bifurcated the conversion feature associated with the 2022 Notes and recorded $ 18.9 million to additional paid-in capital for the conversion feature and the resulting debt discount was being amortized to interest expense. As there is no longer an equity component of the convertible debt under the new standard, the debt issuance cost and conversion option that was allocated to the equity component was derecognized through an adjustment to opening retained earnings. The net carrying amount of the liability component of the 2022 Notes is as follows: As of March 31, 2022 As of December 31, 2021 (in thousands) Principal $ 19,382 $ 19,382 Unamortized debt discount — ( 477 ) Unamortized issuance costs ( 15 ) ( 35 ) Net carrying amount $ 19,367 $ 18,870 Interest expense related to the 2022 Notes is as follows: Three Months Ended March 31, 2022 2021 (in thousands) Contractual interest expense $ 12 $ 69 Amortization of debt discount — 1,635 Amortization of issuance costs 26 122 Total interest expense $ 38 $ 1,826

Leases

Leases	3 Months Ended
	Mar. 31, 2022
Leases [Abstract]
Leases	9. Leases The Company leases office facilities under non-cancelable operating leases that expire at various dates through February 2035. During the three months ended March 31, 2022, the lease term began, was amended, or extended for various leases of office spaces globally. The Compan y recorded a net $ 4.8 million of right-of-use assets and $ 4.8 million of lease liabilities for these leases during the period upon the lease commencement, amendment, 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 March 31, 2022 was 4.5 %. Operating lease expense costs were $ 10.9 million for the three months ended March 31, 2022 and $ 12.0 million for the three months ended March 31, 2021. 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 March 31, 2022 and 2021 are as follows: Three Months Ended March 31, 2022 2021 (in thousands) Operating sublease income $ 1,188 $ 1,259 Cash payments related to operating lease liabilities were $ 7.6 million for the three months ended March 31, 2022 and $ 17.9 million for the three months ended March 31, 2021 .

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	10. Commitments and Contingencies Contractual Obligations The Company leases its office facilities under non-cancelable operating leases that expire at various dates through February 2035. 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 $ 81.6 million. Future minimum payments under all operating lease agreements as of March 31, 2022 are as follows: Operating (in thousands) Remainder of 2022 $ 34,032 2023 44,477 2024 42,114 2025 42,141 2026 42,102 Thereafter 172,126 Total $ 376,992 In May 2022, the Company entered into a new 2 year lease in the Netherlands. The new lease commences on or near July 1, 2022 and the Company will pay an aggregate of approximately $ 0.9 million in incremental rent over the lease term. Future minimum payments under all non-cancelable arrangements as of March 31, 2022 and agreements entered into since then are as follows: Product INBOUND (in thousands) Remainder of 2022 $ 106,916 $ 2,310 2023 155,154 977 2024 176,110 4 2025 195,972 4 2026 220,000 — Thereafter 187,500 — Total $ 1,041,652 $ 3,295 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.

Changes in Accumulated Other Co

Changes in Accumulated Other Comprehensive Loss	3 Months Ended
	Mar. 31, 2022
Equity [Abstract]
Changes in Accumulated Other Comprehensive Loss	11. 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 three months ended March 31, 2022. Cumulative Translation Adjustment Unrealized Total (in thousands) Beginning balance at January 1, 2022 ( 532 ) ( 807 ) ( 1,339 ) Other comprehensive loss before reclassifications ( 356 ) ( 4,001 ) ( 4,357 ) Amounts reclassified from accumulated other — — — Ending balance at March 31, 2022 ( 888 ) ( 4,808 ) ( 5,696 )

Stock-Based Compensation Expens

Stock-Based Compensation Expense	3 Months Ended
	Mar. 31, 2022
Share-based Payment Arrangement [Abstract]
Stock-Based Compensation Expense	12. 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 March 31, 2022 2021 (in thousands) Options $ 1,999 $ 1,594 RSUs 40,807 28,737 Employee stock purchase plan 2,898 2,092 Total stock-based compensation expense $ 45,704 $ 32,423 Effect of stock-based compensation expense on income by line item: Three Months Ended March 31, 2022 2021 (in thousands) Cost of revenue, subscription $ 1,823 $ 1,310 Cost of revenue, professional services and other 835 697 Research and development 16,986 11,484 Sales and marketing 16,869 13,629 General and administrative 9,191 5,303 Total stock-based compensation expense $ 45,704 $ 32,423 Capitalized software development costs excluded from stock-based compensation expense is $ 1.6 million for the three months ended March 31, 2022 and $ 1.1 million for the three months ended March 31, 2021 .

Segment Information and Geograp

Segment Information and Geographic Data	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Segment Information and Geographic Data	13. 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 assesses 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 March 31, 2022 2021 (in thousands) Americas $ 242,027 $ 173,870 Europe 119,189 83,370 Asia Pacific 34,383 24,125 Total $ 395,599 $ 281,365 Percentage of revenues generated outside of 39 % 38 % Revenue derived from customers outside the United States (international) was approximately 46 % of total revenue in the three months ended March 31, 2022 and 45 % of total revenue in the three months ended March 31, 2021. Total long-lived assets by geographical region: As of March 31, 2022 As of December 31, 2021 (in thousands) Americas $ 229,433 $ 226,848 Europe 137,229 139,846 Asia Pacific 12,637 10,268 Total long-lived assets $ 379,299 $ 376,962 Percentage of long-lived assets held outside of the Americas 40 % 40 %

Organization and Operations (Po

Organization and Operations (Policies)	3 Months Ended
	Mar. 31, 2022
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 Company adopted the updated guidance as of January 1, 2022 using a modified retrospective method with a cumulative-effect adjustment as of the adoption date. Comparative periods are not adjusted. See Note 8 of these consolidated financial statements for further details. In October 2021, the FA SB issued guidance that requires companies to recognize and measure contract assets and contract liabilities acquired in a business combination, in accordance with the revenue recognition guidance, as if the acquirer had entered into the original contract at the same time and on the same terms as the acquiree. Generally, this will result in the acquirer recognizing contract assets and liabilities at the same amounts recorded by the acquiree as of the acquisition date. Under the previous standard, an acquirer generally recognizes such items at fair value on the acquisition date. The Company adopted the updated guidance as of January 1, 2022 and the ongoing impact of this guidance will depend on the contract assets and liabilities acquired in future business combinations.
Revenues	isaggregation of Revenue The Company provides disaggregation of revenue based on geographic region (Note 13) 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 three months ended March 31, 2022 increased by $ 27.7 million resulting from $ 423.3 million of additional invoicing and was offset by revenue recognized of $ 395.6 million during the same period. $ 227.1 million of revenue was recognized during the three months ended March 31, 2022 that was included in deferred revenue at the beginning of the period. As of March 31, 2022, approximately $ 406.9 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 $ 2.9 million and $ 2.5 were included in accrued expenses and other current liabilities on the consolidated balance sheet as of March 31, 2022 and December 31, 2021. 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 March 31, 2022 increased by $ 7.9 million as a result of deferring incremental costs of obtaining a contract of $ 26.7 million and was offset by amortization of $ 18.8 million during the same period.

Net Loss per Share (Tables)

Net Loss per Share (Tables)	3 Months Ended
	Mar. 31, 2022
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 March 31, 2022 2021 Net loss $ ( 9,341 ) $ ( 23,159 ) Weighted-average common shares outstanding — basic 47,577 46,428 Dilutive effect of share equivalents resulting from stock — — Weighted-average common shares, outstanding — diluted 47,577 46,428 Net loss per share, basic and diluted $ ( 0.20 ) $ ( 0.50 )
Schedule of Potentially Dilutive Common Stock Equivalents	The following table contains all potentially dilutive common stock equivalents. As of March 31, 2022 2021 (in thousands) Options to purchase common shares 527 769 RSUs 1,145 1,451 Conversion Option of the 2022 Notes and Warrants 1,232 1,957 Conversion Option of the 2025 Notes 1,627 581 ESPP — 10

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2022
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 March 31, 2022 and December 31, 2021: March 31, 2022 Level 1 Level 2 Level 3 Total (in thousands) Cash equivalents and investments: Money market funds $ 100,250 $ — $ — $ 100,250 Commercial paper — 25,667 — 25,667 Corporate bonds — 252,545 — 252,545 U.S. Government agency securities — 28,528 — 28,528 U.S. Treasury securities — 714,754 — 714,754 Restricted cash: Money market funds — 3,029 — 3,029 Total $ 100,250 $ 1,024,523 $ — $ 1,124,773 December 31, 2021 Level 1 Level 2 Level 3 Total (in thousands) Cash equivalents and investments: Money market funds $ 125,940 $ — $ — $ 125,940 Commercial paper — 28,337 — 28,337 Corporate bonds — 249,846 — 249,846 U.S. Government agency securities — 22,466 — 22,466 U.S. Treasury securities — 698,300 — 698,300 Restricted cash: Money market funds — 3,029 — 3,029 Total $ 125,940 $ 1,001,978 $ — $ 1,127,918
Summary of Composition of Short and Long Term Investments	The following tables summarize the composition of our short- and long-term investments at March 31, 2022 and December 31, 2021. March 31, 2022 Amortized Unrealized Unrealized Aggregate (in thousands) Commercial paper $ 25,667 $ — $ — $ 25,667 Corporate bonds 255,441 1 ( 2,897 ) 252,545 U.S. Government agency securities 28,981 — ( 453 ) 28,528 U.S. Treasury securities 716,187 5 ( 1,438 ) 714,754 Total $ 1,026,276 $ 6 $ ( 4,788 ) $ 1,021,494 December 31, 2021 Amortized Unrealized Unrealized Aggregate (in thousands) Commercial paper $ 25,245 $ — $ — $ 25,245 Corporate bonds 250,443 9 ( 606 ) 249,846 U.S. Government agency securities 22,504 — ( 38 ) 22,466 U.S. Treasury securities 698,446 2 ( 148 ) 698,300 Total $ 996,638 $ 11 $ ( 792 ) $ 995,857
Summary of Contractual Maturities of Short and Long Term Investments	The contractual maturities of short-term and long-term investments held at March 31, 2022 and December 31, 2021 are as follows: March 31, 2022 December 31, 2021 Amortized Aggregate Amortized Aggregate (in thousands) (in thousands) Due within one year $ 827,789 $ 826,449 $ 821,101 $ 820,962 Due after 1 year through 2 years 198,487 195,045 175,537 174,895 Total $ 1,026,276 $ 1,021,494 $ 996,638 $ 995,857

Restricted cash (Tables)

Restricted cash (Tables)	3 Months Ended
	Mar. 31, 2022
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 March 31, 2022 and 2021. March 31, 2022 March 31, 2021 December 31, 2021 (in thousands) Cash and cash equivalents $ 408,433 $ 397,498 $ 377,013 Restricted cash, included in other assets 3,029 3,029 3,029 Total cash, cash equivalents, and restricted cash $ 411,462 $ 400,527 $ 380,042

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	3 Months Ended
	Mar. 31, 2022
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment, Net	Property and equipment, net consists of the following: March 31, 2022 December 31, 2021 (in thousands) Computer equipment and purchased software $ 16,108 $ 15,524 Employee related computer equipment 36,700 32,230 Furniture and fixtures 20,182 20,180 Leasehold improvements 95,679 90,070 Internal-use software 22,676 20,616 Construction in progress 3,854 4,141 Total property and equipment 195,199 182,761 Less accumulated depreciation ( 92,448 ) ( 86,627 ) Property and equipment, net $ 102,751 $ 96,134

Capitalized Software Developm_2

Capitalized Software Development Costs (Tables)	3 Months Ended
	Mar. 31, 2022
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: March 31, 2022 December 31, 2021 (in thousands) Gross capitalized software development costs $ 132,595 $ 122,592 Accumulated amortization ( 88,575 ) ( 82,734 ) Capitalized software development costs, net $ 44,020 $ 39,858

Convertible Senior Notes (Table

Convertible Senior Notes (Tables)	3 Months Ended
	Mar. 31, 2022
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 March 31, 2022 As of December 31, 2021 (in thousands) Principal $ 459,083 $ 459,999 Unamortized debt discount — ( 70,594 ) Unamortized issuance costs ( 6,336 ) ( 5,544 ) Net carrying amount $ 452,747 $ 383,861
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 March 31, 2022 2021 (in thousands) Contractual interest expense $ 431 $ 431 Amortization of debt discount — 4,391 Amortization of issuance costs 481 345 Total interest expense $ 912 $ 5,167
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 March 31, 2022 As of December 31, 2021 (in thousands) Principal $ 19,382 $ 19,382 Unamortized debt discount — ( 477 ) Unamortized issuance costs ( 15 ) ( 35 ) Net carrying amount $ 19,367 $ 18,870
2025
Debt Instrument [Line Items]
Schedule of Interest Expense	Interest expense related to the 2022 Notes is as follows: Three Months Ended March 31, 2022 2021 (in thousands) Contractual interest expense $ 12 $ 69 Amortization of debt discount — 1,635 Amortization of issuance costs 26 122 Total interest expense $ 38 $ 1,826

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2022
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 March 31, 2022 and 2021 are as follows: Three Months Ended March 31, 2022 2021 (in thousands) Operating sublease income $ 1,188 $ 1,259

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Schedule of Future Minimum Payments	Future minimum payments under all operating lease agreements as of March 31, 2022 are as follows: Operating (in thousands) Remainder of 2022 $ 34,032 2023 44,477 2024 42,114 2025 42,141 2026 42,102 Thereafter 172,126 Total $ 376,992
Schedule of Future Minimum Payments Under Non-Cancelable Arrangements	Future minimum payments under all non-cancelable arrangements as of March 31, 2022 and agreements entered into since then are as follows: Product INBOUND (in thousands) Remainder of 2022 $ 106,916 $ 2,310 2023 155,154 977 2024 176,110 4 2025 195,972 4 2026 220,000 — Thereafter 187,500 — Total $ 1,041,652 $ 3,295

Changes in Accumulated Other _2

Changes in Accumulated Other Comprehensive Loss (Tables)	3 Months Ended
	Mar. 31, 2022
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 three months ended March 31, 2022. Cumulative Translation Adjustment Unrealized Total (in thousands) Beginning balance at January 1, 2022 ( 532 ) ( 807 ) ( 1,339 ) Other comprehensive loss before reclassifications ( 356 ) ( 4,001 ) ( 4,357 ) Amounts reclassified from accumulated other — — — Ending balance at March 31, 2022 ( 888 ) ( 4,808 ) ( 5,696 )

Stock-Based Compensation Expe_2

Stock-Based Compensation Expense (Tables)	3 Months Ended
	Mar. 31, 2022
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 March 31, 2022 2021 (in thousands) Options $ 1,999 $ 1,594 RSUs 40,807 28,737 Employee stock purchase plan 2,898 2,092 Total stock-based compensation expense $ 45,704 $ 32,423
Effect of Stock-Based Compensation on Income by Line Item	Effect of stock-based compensation expense on income by line item: Three Months Ended March 31, 2022 2021 (in thousands) Cost of revenue, subscription $ 1,823 $ 1,310 Cost of revenue, professional services and other 835 697 Research and development 16,986 11,484 Sales and marketing 16,869 13,629 General and administrative 9,191 5,303 Total stock-based compensation expense $ 45,704 $ 32,423

Segment Information and Geogr_2

Segment Information and Geographic Data (Tables)	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Revenues by Geographical Region	Revenues by geographical region: Three Months Ended March 31, 2022 2021 (in thousands) Americas $ 242,027 $ 173,870 Europe 119,189 83,370 Asia Pacific 34,383 24,125 Total $ 395,599 $ 281,365 Percentage of revenues generated outside of 39 % 38 %
Long Lived Assets by Geographical Region	Total long-lived assets by geographical region: As of March 31, 2022 As of December 31, 2021 (in thousands) Americas $ 229,433 $ 226,848 Europe 137,229 139,846 Asia Pacific 12,637 10,268 Total long-lived assets $ 379,299 $ 376,962 Percentage of long-lived assets held outside of the Americas 40 % 40 %

Revenues - Additional Informati

Revenues - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Revenue Initial Application Period Cumulative Effect Transition [Line Items]
Additions in deferred revenue	$ 27,700
Additional Invoicing	423,300
Total revenues	395,599	$ 281,365
Deferred revenue, revenue recognized	227,100
Revenue remaining performance obligation, contracts exceeds one year	$ 406,900
Revenue remaining performance obligation contract period	1 year
Revenue remaining performance obligation percentage recognized	93.00%
Short-term deferred revenue	$ 457,916		$ 430,414
Increase (decrease) in deferred commission expense	7,900
Incremental costs of deferred sales commission expense	26,700
Amortization of deferred commission expense	$ 18,800
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	$ 2,900		$ 2,500

Revenues - Additional Informa_2

Revenues - Additional Information1 (Detail)	Mar. 31, 2022
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
	Mar. 31, 2022	Mar. 31, 2021
Earnings Per Share, Basic and Diluted [Abstract]
Net loss	$ (9,341)	$ (23,159)
Weighted-average common shares outstanding — basic	47,577	46,428
Weighted-average common shares, outstanding — diluted	47,577	46,428
Net loss per share, basic and diluted	$ (0.20)	$ (0.50)

Net Loss per Share - Additional

Net Loss per Share - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2022USD ($)Daysd$ / shares	Apr. 29, 2022USD ($)	Dec. 31, 2021USD ($)	Jun. 30, 2020$ / shares
Earnings Per Share Basic [Line Items]
Average stock price | $ / shares	$ 484.47
0.25% Convertible Senior Notes Due 2022 as Liability Component [Member]
Earnings Per Share Basic [Line Items]
Debt instrument, convertible, threshold trading days | Days	20
Debt instrument, convertible, threshold consecutive trading days | Days	30
Principal amount of long term debt	$ 19,382,000		$ 19,382,000
0.25% Convertible Senior Notes Due 2022 as Liability Component [Member] | Maximum [Member]
Earnings Per Share Basic [Line Items]
Percentage of closing price to trigger debt conversion	130.00%
0.25% Convertible Senior Notes Due 2022 as Liability Component [Member] | Subsequent Event [Member]
Earnings Per Share Basic [Line Items]
Principal amount of long term debt		$ 0
0.375% Convertible Senior Notes Due 2025 [Member]
Earnings Per Share Basic [Line Items]
Common stock conversion price | $ / shares	$ 282.52			$ 282.52
Debt instrument, convertible, threshold trading days | d	20
Debt instrument, convertible, threshold consecutive trading days | d	30
Principal amount of long term debt	$ 900,000
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%
0.375% Convertible Senior Notes Due 2025 [Member] | Subsequent Event [Member]
Earnings Per Share Basic [Line Items]
Principal amount of long term debt		$ 0

Net Loss per Share - Schedule o

Net Loss per Share - Schedule of Potentially Dilutive Common Stock Equivalents (Detail) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
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	1,627	581
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	527	769
RSUs [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	1,145	1,451
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	1,232	1,957
ESPP [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share		10

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Schedule of Fair Value of Financial Assets and Liabilities (Detail) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of short and long term investments	$ 1,021,494	$ 995,857
Fair value of financial assets	1,124,773	1,127,918
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of financial assets	100,250	125,940
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of financial assets	1,024,523	1,001,978
Money Market Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of cash and cash equivalents	100,250	125,940
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	100,250	125,940
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	25,667	28,337
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	25,667	28,337
Corporate Bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of short and long term investments	252,545	249,846
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	252,545	249,846
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	28,528	22,466
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	28,528	22,466
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	714,754	698,300
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	$ 714,754	$ 698,300

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Other assets	$ 39,918	$ 29,244
Debt securities, available-for-sale, realized gain	4,200
Strategic Investments [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Other assets	28,100	$ 17,800
2022 Notes [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Fair value of notes	96,900
2025 Notes [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Fair value of notes	$ 821,400

Fair Value of Financial Instr_5

Fair Value of Financial Instruments - Summary of Composition of Short and Long Term Investments (Detail) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 1,026,276	$ 996,638
Unrealized Gains	6	11
Unrealized Losses	(4,788)	(792)
Aggregate Fair Value	1,021,494	995,857
Commercial Paper [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	25,667	25,245
Aggregate Fair Value	25,667	25,245
Corporate Bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	255,441	250,443
Unrealized Gains	1	9
Unrealized Losses	(2,897)	(606)
Aggregate Fair Value	252,545	249,846
U.S. Government Agency Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	28,981	22,504
Unrealized Losses	(453)	(38)
Aggregate Fair Value	28,528	22,466
US Treasury Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	716,187	698,446
Unrealized Gains	5	2
Unrealized Losses	(1,438)	(148)
Aggregate Fair Value	$ 714,754	$ 698,300

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	Mar. 31, 2022	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Amortized Cost Basis, Due within one year	$ 827,789	$ 821,101
Amortized Cost Basis, Due after 1 year through 2 years	198,487	175,537
Amortized Cost	1,026,276	996,638
Aggregate Fair Value, Due within one year	826,449	820,962
Aggregate Fair Value, Due after 1 year through 2 years	195,045	174,895
Aggregate Fair Value, Total	$ 1,021,494	$ 995,857

Equity Method Investment - Addi

Equity Method Investment - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Schedule Of Equity Method Investments [Line Items]
Net loss	$ (9,341)	$ (23,159)

Restricted Cash - Summary of Re

Restricted Cash - Summary of Reconciliation of Cash, Cash Equivalents and Restricted Cash (Detail) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021
Cash and Cash Equivalents [Abstract]
Cash and cash equivalents	$ 408,433	$ 377,013	$ 397,498
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	$ 411,462	$ 380,042	$ 400,527

Property and Equipment, Net - S

Property and Equipment, Net - Schedule of Property and Equipment, Net (Detail) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 195,199	$ 182,761
Less accumulated depreciation	(92,448)	(86,627)
Property and equipment, net	102,751	96,134
Computer Equipment and Purchased Software [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	16,108	15,524
Employee Related Computer Equipment [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	36,700	32,230
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	20,182	20,180
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	95,679	90,070
Internal Use Software [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	22,676	20,616
Construction in Progress [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 3,854	$ 4,141

Property and Equipment, Net - A

Property and Equipment, Net - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Property, Plant and Equipment [Abstract]
Depreciation and amortization	$ 6.3	$ 6

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	Mar. 31, 2022	Dec. 31, 2021
Capitalized Computer Software, Net [Abstract]
Gross capitalized software development costs	$ 132,595	$ 122,592
Accumulated amortization	(88,575)	(82,734)
Capitalized software development costs, net	$ 44,020	$ 39,858

Capitalized Software Developm_4

Capitalized Software Development Costs - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Capitalized Computer Software, Net [Abstract]
Amortization of software development costs, exclusive of costs recorded within property and equipment	$ 7.1	$ 4.9

Convertible Senior Notes - Addi

Convertible Senior Notes - Additional Information (Detail)	Jan. 01, 2022USD ($)	Jun. 30, 2020USD ($)$ / sharesshares	May 31, 2017USD ($)$ / shares	Mar. 31, 2022USD ($)d$ / sharesshares	Apr. 29, 2022USD ($)
Debt Instrument [Line Items]
Increase in retained earnings	$ 31,400,000
Increase in convertible senior notes	69,800,000
Increase in short term convertible senior notes	500,000
Increase in long term convertible senior notes	69,300,000
Decrease in additional paid in capital	$ 101,200,000
0.375% Convertible Senior Notes Due 2025 [Member]
Debt Instrument [Line Items]
Principal amount of long term debt				$ 900,000
Debt instrument, interest rate, stated percentage		0.375%
Debt instrument, maturity date				Jun. 1, 2025
Debt instrument, payment terms				The interest rate is fixed at 0.375% per annum and is payable semi-annually in arrears on June 1 and December 1 of each year.
Proceeds from issuance of notes		$ 450,100,000
Principal amount of each convertible note		$ 1,000
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
Additional paid in capital for conversion feature		$ 96,600,000
0.375% Convertible Senior Notes Due 2025 [Member] | Subsequent Event [Member]
Debt Instrument [Line Items]
Principal amount of long term debt					$ 0
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	$ 19,400,000
Debt instrument, interest rate, stated percentage			0.25%
Debt instrument, maturity date				Jun. 1, 2022
Debt instrument, payment terms				The interest rate is fixed at 0.25% per annum and is payable semi-annually in arrears on June 1 and December 1 of each year.
Proceeds from issuance of notes			$ 389,200,000
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, conversion price per share | $ / shares			$ 94.77
Additional paid in capital for conversion feature				$ 18,900,000
Number of common shares to be repurchased under convertible note hedge transactions with certain counterparties | shares				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
Conversion notices, description				In the quarter ended March 31, 2022 and through April 29, 2022, the Company did not receive any conversion notices.
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
Warrants exercise price per share | $ / shares				$ 115.8
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
2022 Notes Convertible Note Hedges [Member] | Common Stock [Member]
Debt Instrument [Line Items]
Debt instrument convertible to common stock | shares				200,000
2022 Notes Convertible Note Hedges [Member] | Warrants [Member]
Debt Instrument [Line Items]
Debt instrument convertible to common stock | shares				1,300,000

Convertible Senior Notes - Sche

Convertible Senior Notes - Schedule of Net Carrying Amount of Liability Component (Detail) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
0.375%Convertible Senior Notes Due 2025 as Liability Component [Member]
Debt Instrument [Line Items]
Principal	$ 459,083	$ 459,999
Unamortized debt discount		(70,594)
Unamortized issuance costs	(6,336)	(5,544)
Net carrying amount	452,747	383,861
0.25% Convertible Senior Notes Due 2022 as Liability Component [Member]
Debt Instrument [Line Items]
Principal	19,382	19,382
Unamortized debt discount		(477)
Unamortized issuance costs	(15)	(35)
Net carrying amount	$ 19,367	$ 18,870

Convertible Senior Notes - Sc_2

Convertible Senior Notes - Schedule of Interest Expense (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
0.375% Convertible Senior Notes Due 2025 [Member]
Debt Instrument [Line Items]
Contractual interest expense	$ 431	$ 431
Amortization of debt discount		4,391
Amortization of issuance costs	481	345
Total interest expense	912	5,167
0.25% Convertible Senior Notes Due 2022 [Member]
Debt Instrument [Line Items]
Contractual interest expense	12	69
Amortization of debt discount		1,635
Amortization of issuance costs	26	122
Total interest expense	$ 38	$ 1,826

Leases - Additional Information

Leases - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Lessee Lease Description [Line Items]
Operating leases right-of-use assets additions	$ 4.8
Operating leases lease liabilities additions	$ 4.8
Weighted average discount rate for operating leases	4.50%
Operating lease expense costs	$ 10.9	$ 12
Cash payments for operating lease liabilities	$ 7.6	$ 17.9

Leases - Schedule of Operating

Leases - Schedule of Operating Sublease Income Generated under Operating Lease Agreements (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Leases [Abstract]
Operating sublease income	$ 1,188	$ 1,259

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	May 31, 2022
Commitments and Contingencies [Line Items]
Increase in future lease commitments	$ 81.6
Incremental rent over lease term	$ 0.9
Forecast [Member]
Commitments and Contingencies [Line Items]
Extended lease terms		2 years

Commitments and Contingencies_2

Commitments and Contingencies - Schedule of Future Minimum Payments (Detail) $ in Thousands	Mar. 31, 2022USD ($)
Commitments and Contingencies Disclosure [Abstract]
Operating, Remainder of 2022	$ 34,032
Operating, 2023	44,477
Operating, 2024	42,114
Operating, 2025	42,141
Operating, 2026	42,102
Operating, Thereafter	172,126
Total	$ 376,992

Commitments and Contingencies_3

Commitments and Contingencies - Schedule of Future Minimum Payments Under Non-Cancelable Arrangements (Details) $ in Thousands	Mar. 31, 2022USD ($)
Product Related Obligations [Member]
Long-term Purchase Commitment [Line Items]
Remainder of 2022	$ 106,916
Non-cancelable arrangements, 2023	155,154
Non-cancelable arrangements, 2024	176,110
Non-cancelable arrangements, 2025	195,972
Non-cancelable arrangements, 2026	220,000
Non-cancelable arrangements, Thereafter	187,500
Purchase Obligation, Total	1,041,652
INBOUND Event Obligations [Member]
Long-term Purchase Commitment [Line Items]
Remainder of 2022	2,310
Non-cancelable arrangements, 2023	977
Non-cancelable arrangements, 2024	4
Non-cancelable arrangements, 2025	4
Purchase Obligation, Total	$ 3,295

Business Acquisition - Addition

Business Acquisition - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Business Acquisition [Line Items]
Cash purchase price for the acquisition, net of cash acquired		$ 16,810
Income tax benefit	$ 1,444	$ (137)

Business Acquisition - Summary

Business Acquisition - Summary of Fair Value of Assets Acquired and Liabilities Assumed (Detail) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Business Acquisition [Line Items]
Goodwill	$ 46,770	$ 47,075

Changes in Stockholders' Equity

Changes in Stockholders' Equity - Summary of Changes in Stockholders' Equity (Detail) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Class Of Stock [Line Items]
Beginning Balance, Amount	$ 873,799	$ 762,655
Issuance of common stock under stock plans, net of shares withheld for employee taxes	2,145	6,583
Stock-based compensation	46,436	32,947
Settlement of Convertible Note Hedges		724
Cumulative translation adjustment	(356)	(2,489)
Unrealized gain (loss) on investments, net of income taxes of $0, and ($36)	(4,001)	(240)
Net loss	(9,341)	(23,159)
Ending Balance, Amount	833,836	774,714
0.25% Convertible Senior Notes Due 2022 as Liability Component [Member]
Class Of Stock [Line Items]
Equity component of the 2022 Notes conversions		(2,307)
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	(691)
Common Stock [Member]
Class Of Stock [Line Items]
Beginning Balance, Amount	$ 47	$ 46
Beginning Balance, Shares	47,390	46,115
Issuance of common stock under stock plans, net of shares withheld for employee taxes	$ 1	$ 1
Issuance of common stock under stock plans, net of shares withheld for employee taxes, Shares	250	482
Settlement of Convertible Note Hedges, Shares		(364)
Ending Balance, Amount	$ 48	$ 47
Ending Balance, Shares	47,640	46,596
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, Shares		363
Treasury Stock [Member]
Class Of Stock [Line Items]
Beginning Balance, Shares	910	12
Settlement of Convertible Note Hedges, Shares		364
Ending Balance, Shares	910	376
Additional Paid-In Capital [Member]
Class Of Stock [Line Items]
Beginning Balance, Amount	$ 1,436,089	$ 1,241,167
Issuance of common stock under stock plans, net of shares withheld for employee taxes	2,144	6,582
Stock-based compensation	46,436	32,947
Settlement of Convertible Note Hedges		724
Ending Balance, Amount	1,378,457	1,279,113
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		(2,307)
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	(691)
Accumulated Other Comprehensive Income (Loss) [Member]
Class Of Stock [Line Items]
Beginning Balance, Amount	(1,339)	4,603
Cumulative translation adjustment	(356)	(2,489)
Unrealized gain (loss) on investments, net of income taxes of $0, and ($36)	(4,001)	(240)
Ending Balance, Amount	(5,696)	1,874
Accumulated Deficit [Member]
Class Of Stock [Line Items]
Beginning Balance, Amount	(560,998)	(483,161)
Net loss	(9,341)	(23,159)
Ending Balance, Amount	$ (538,973)	$ (506,320)

Changes in Stockholders' Equi_2

Changes in Stockholders' Equity - Summary of Changes in Stockholders' Equity (Parenthetical) (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Stockholders' Equity Note [Abstract]
Unrealized gain (loss) on investments, tax	$ 0	$ (36)

Changes in Accumulated Other _3

Changes in Accumulated Other Comprehensive Loss - Changes in Accumulated Other Comprehensive Loss (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance, Amount	$ 873,799
Other comprehensive loss before reclassifications	(4,357)
Ending Balance, Amount	833,836
Cumulative Translation Adjustment [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance, Amount	(532)
Other comprehensive loss before reclassifications	(356)
Ending Balance, Amount	(888)
Unrealized Gain on Investments [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance, Amount	(807)
Other comprehensive loss before reclassifications	(4,001)
Ending Balance, Amount	(4,808)
Accumulated Other Comprehensive Loss [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance, Amount	(1,339)
Ending Balance, Amount	$ (5,696)

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
	Mar. 31, 2022	Mar. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	$ 45,704	$ 32,423
Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	1,999	1,594
RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	40,807	28,737
ESPP [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	$ 2,898	$ 2,092

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
	Mar. 31, 2022	Mar. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	$ 45,704	$ 32,423
Cost of Revenue, Subscription [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	1,823	1,310
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	835	697
Research and Development [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	16,986	11,484
Sales and Marketing [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	16,869	13,629
General and Administrative [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	$ 9,191	$ 5,303

Stock-Based Compensation Expe_5

Stock-Based Compensation Expense - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
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	$ 1.1

Segment Information and Geogr_3

Segment Information and Geographic Data - Additional Information (Detail) - Segment	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
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%	45.00%

Segment Information and Geogr_4

Segment Information and Geographic Data - Revenues by Geographical Region (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Segment Reporting Information [Line Items]
Total revenues	$ 395,599	$ 281,365
Americas [Member]
Segment Reporting Information [Line Items]
Total revenues	242,027	173,870
Europe [Member]
Segment Reporting Information [Line Items]
Total revenues	119,189	83,370
Asia Pacific [Member]
Segment Reporting Information [Line Items]
Total revenues	$ 34,383	$ 24,125
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%	38.00%

Segment Information and Geogr_5

Segment Information and Geographic Data - Long Lived Assets by Geographical Region (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Total long lived assets	$ 379,299	$ 376,962
Americas [Member]
Segment Reporting Information [Line Items]
Total long lived assets	229,433	226,848
Europe [Member]
Segment Reporting Information [Line Items]
Total long lived assets	137,229	139,846
Asia Pacific [Member]
Segment Reporting Information [Line Items]
Total long lived assets	$ 12,637	$ 10,268
Outside Of Americas [Member] | Assets Total [Member] | Geographic Concentration Risk [Member]
Segment Reporting Information [Line Items]
Percentage of long lived assets held outside of the Americas	40.00%	40.00%