HubSpot (HUBS) 10-Q 3 May 23 2023 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2023	Apr. 28, 2023
Entity Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2023
Document Fiscal Year Focus	2023
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	Two Canal Park
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		49,638,689
Former Address [Member]
Entity Information [Line Items]
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

Unaudited Consolidated Balance

Unaudited Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 325,159	$ 331,022
Short-term investments	1,159,554	1,081,662
Accounts receivable - net of allowance for doubtful accounts of $3,466 at March 31, 2023 and $3,266 at December 31, 2022	197,516	226,849
Deferred commission expense	76,365	70,992
Prepaid expenses and other current assets	63,480	44,074
Total current assets	1,822,074	1,754,599
Long-term investments	121,814	112,791
Property and equipment, net	107,060	105,227
Capitalized software development costs, net	73,068	63,790
Right-of-use assets	310,000	319,304
Deferred commission expense, net of current portion	80,476	66,559
Other assets	66,145	58,795
Intangible assets, net	16,702	17,446
Goodwill	46,454	46,227
Total assets	2,643,793	2,544,738
Current liabilities:
Accounts payable	2,958	20,883
Accrued compensation costs	70,605	62,846
Accrued expenses and other current liabilities	131,492	102,122
Operating lease liabilities	33,580	35,928
Deferred revenue	571,793	539,874
Total current liabilities	810,428	761,653
Operating lease liabilities, net of current portion	309,037	316,184
Deferred revenue, net of current portion	5,474	5,904
Other long-term liabilities	17,763	14,546
Convertible senior notes	454,712	454,227
Total liabilities	1,597,414	1,552,514
Commitments and contingencies (Note 10)
Stockholders’ equity:
Common stock	49	49
Additional paid-in capital	1,734,749	1,647,446
Accumulated other comprehensive loss	(7,756)	(12,890)
Accumulated deficit	(680,663)	(642,381)
Total stockholders’ equity	1,046,379	992,224
Total liabilities and stockholders’ equity	$ 2,643,793	$ 2,544,738

Unaudited Consolidated Balanc_2

Unaudited Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Accounts receivable, net of allowance for doubtful accounts	$ 3,466	$ 3,266

Unaudited Consolidated Statemen

Unaudited Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Revenues:
Total revenue	$ 501,620	$ 395,599
Cost of revenues:
Total cost of revenues	82,046	72,936
Gross profit	419,574	322,663
Operating expenses:
Research and development	127,683	92,736
Sales and marketing	250,683	197,134
General and administrative	57,405	43,947
Restructuring (Note 14)	28,570
Total operating expenses	464,341	333,817
Loss from operations	(44,767)	(11,154)
Other expense:
Interest income	10,472	515
Interest expense	(930)	(950)
Other income	(794)	3,692
Total other income	8,748	3,257
Loss before income tax expense	(36,019)	(7,897)
Income tax (expense) benefit	(2,263)	(1,444)
Net loss	$ (38,282)	$ (9,341)
Net loss per common share, basic	$ (0.78)	$ (0.20)
Net loss per common share, diluted	$ (0.78)	$ (0.20)
Weighted average common shares used in computing basic net loss per common share	49,395	47,577
Weighted average common shares used in computing diluted net loss per common share	49,395	47,577
Subscription [Member]
Revenues:
Total revenue	$ 489,743	$ 384,956
Cost of revenues:
Total cost of revenues	68,339	59,384
Professional Services and Other [Member]
Revenues:
Total revenue	11,877	10,643
Cost of revenues:
Total cost of revenues	$ 13,707	$ 13,552

Unaudited Consolidated Statem_2

Unaudited Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Statement of Comprehensive Income [Abstract]
Net loss	$ (38,282)	$ (9,341)
Other comprehensive loss:
Foreign currency translation adjustment	627	(356)
Changes in unrealized gain (loss) on investments, net of income taxes of $0 for the three months ended March 31, 2023 and 2022	4,507	(4,001)
Comprehensive loss	$ (33,148)	$ (13,698)

Unaudited Consolidated Statem_3

Unaudited Consolidated Statements of Comprehensive Loss (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Statement of Comprehensive Income [Abstract]
Changes in unrealized gain (loss) on investments, income taxes	$ 0	$ 0

Unaudited Consolidated Statem_4

Unaudited Consolidated Statements of Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock [Member]	Treasury Stock [Member]	Additional Paid-In Capital [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Accumulated Deficit [Member]
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	2,145	$ 1		2,144
Issuance of common stock under stock plans, 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	(69,801)			(101,167)		31,366
Cumulative translation adjustment	(356)				(356)
Unrealized gain on investments, net of income taxes	(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
Beginning Balance, Amount at Dec. 31, 2022	992,224	$ 49		1,647,446	(12,890)	(642,381)
Beginning Balance, Shares at Dec. 31, 2022		49,217	910
Issuance of common stock under stock plans	1,196			1,196
Issuance of common stock under stock plans, Shares		260
Restricted stock units taxes paid in cash	(1,198)			(1,198)
Restricted stock units taxes paid in cash, Shares		(4)
Stock-based compensation	87,305			87,305
Cumulative translation adjustment	627				627
Unrealized gain on investments, net of income taxes	4,507				4,507
Net loss	(38,282)					(38,282)
Ending Balance, Amount at Mar. 31, 2023	$ 1,046,379	$ 49		$ 1,734,749	$ (7,756)	$ (680,663)
Ending Balance, Shares at Mar. 31, 2023		49,473	910

Unaudited Consolidated Statem_5

Unaudited Consolidated Statements of Stockholders' Equity (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Statement of Stockholders' Equity [Abstract]
Unrealized gain (loss) on investments, tax	$ 0	$ 0

Unaudited Consolidated Statem_6

Unaudited Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Operating Activities:
Net loss	$ (38,282)	$ (9,341)
Adjustments to reconcile net loss to net cash and cash equivalents provided by operating activities, net of acquisitions
Depreciation and amortization	16,570	12,798
Stock-based compensation	83,037	45,704
Restructuring charges	2,281
Gain on strategic investments		(4,221)
Provision on (benefit from) deferred income taxes	47	(246)
Amortization of debt discount and issuance costs	484	507
(Accretion) amortization of bond discount	(8,008)	585
Unrealized currency translation	(358)	703
Changes in assets and liabilities
Accounts receivable	30,615	3,552
Prepaid expenses and other assets	(20,417)	(3,927)
Deferred commission expense	(18,539)	(8,354)
Right-of-use assets	8,483	6,528
Accounts payable	(17,873)	3,625
Accrued expenses and other liabilities	24,221	7,135
Operating lease liabilities	(9,829)	(2,318)
Deferred revenue	28,638	29,496
Net cash and cash equivalents provided by operating activities	81,070	82,226
Investing Activities:
Purchases of investments	(362,246)	(435,547)
Maturities of investments	287,967	405,219
Purchases of property and equipment	(3,310)	(9,940)
Purchases of strategic investments	(6,000)	(5,046)
Capitalization of software development costs	(15,122)	(9,722)
Net cash and cash equivalents used in investing activities	(98,711)	(55,036)
Financing Activities:
Repayment of Convertible Notes attributable to the principal		(1,619)
Employee taxes paid related to the net share settlement of stock-based awards	(1,198)	(4,354)
Proceeds related to the issuance of common stock under stock plans	11,254	11,852
Net cash and cash equivalents provided by financing activities	10,056	5,879
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	1,722	(1,649)
Net (decrease) increase in cash, cash equivalents and restricted cash	(5,863)	31,420
Cash, cash equivalents and restricted cash, beginning of period	334,175	380,042
Cash, cash equivalents and restricted cash, end of period	328,312	411,462
Supplemental cash flow disclosure:
Cash paid for income taxes	4,063	1,683
Right-of-use assets obtained in exchange for operating lease liabilities		3,754
Right-of-use asset reductions related to operating lease terminations	(1,235)
Non-cash investing and financing activities:
Capital expenditures incurred but not yet paid	5,919	2,287
Asset retirement obligations	$ (108)	$ 1,188

Organization and Operations

Organization and Operations	3 Months Ended
	Mar. 31, 2023
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, 2022, 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, 2023. The year-end balance sheet data was derived from audited financial statements, but this Form 10-Q does not include all disclosures required under GAAP. Certain information and note disclosures normally included in annual financial statements prepared in accordance with GAAP have been omitted under the rules and regulations of the SEC. These interim financial statements should be read in conjunction with the audited consolidated financial statements and related notes contained in the Company’s Annual Report on Form 10-K filed with the SEC on February 16, 2023. 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. Recent Accounting Pronouncements The Company has implemented all applicable accounting pronouncements that are in effect and there are no new accounting pronouncements that have been issued that would have a material impact on its financial position or results of operations.

Revenues

Revenues	3 Months Ended
	Mar. 31, 2023
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, 2023 increased by $ 31.5 million resulting from $ 533.1 million of additional invoicing and was offset by revenue recognized of $ 501.6 million during the same period. $ 289.8 million of revenue was recognized during the three months ended March 31, 2023 that was included in deferred revenue at the beginning of the period. As of March 31, 2023, approximately $ 622.3 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 90 % of these remaining performance obligations over the next 24 months , with the balance recognized thereafter. Additional contract liabilities of $ 3.6 million and $ 3.0 were included in accrued expenses and other current liabilities on the consolidated balance sheet as of March 31, 2023 and December 31, 2022. The incremental direct costs of obtaining a contract, which primarily consist of sales and partner commissions paid for new subscription contracts, are deferred and amortized on a straight-line basis over a period of approximately two to four years. The two to four-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 and partner 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, 2023 increased by $ 19.2 million as a result of deferring incremental costs of obtaining a contract of $ 40.9 million and was offset by amortization of $ 21.7 million during the same period.

Net Loss per Share

Net Loss per Share	3 Months Ended
	Mar. 31, 2023
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”), performance restricted stock units (“PSUs”), 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, 2023 2022 Net loss $ ( 38,282 ) $ ( 9,341 ) Weighted-average common shares outstanding — basic 49,395 47,577 Dilutive effect of share equivalents resulting from stock — — Weighted-average common shares, outstanding — diluted 49,395 47,577 Net loss per share, basic and diluted $ ( 0.78 ) $ ( 0.20 ) 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, PSUs, 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, 2023 was $ 364.93 . 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, 2023 was equal to or greater than 130 % of the applicable conversion price of $ 282.52 on each applicable trading day, the 2025 Notes (defined in Note 8) are convertible at the option of the holders thereof during the calendar quarter ending June 30, 2023. As of April 28, 2023, the Company has no t received any conversion notices. The following table contains all potentially dilutive common stock equivalents. As of March 31, 2023 2022 (in thousands) Options to purchase common shares 511 527 RSUs 1,698 1,145 Conversion Option of the 2022 Notes and Warrants — 1,232 Conversion Option of the 2025 Notes 1,625 1,627 PSUs — — ESPP — —

Fair Value of Financial Instrum

Fair Value of Financial Instruments	3 Months Ended
	Mar. 31, 2023
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, 2023 and December 31, 2022: March 31, 2023 Level 1 Level 2 Level 3 Total (in thousands) Cash equivalents and investments: Money market funds $ 14,126 $ — $ — $ 14,126 Commercial paper — 20,325 — 20,325 Corporate bonds — 248,493 — 248,493 U.S. Government agency securities — 55,175 — 55,175 U.S. Treasury securities — 957,368 — 957,368 Restricted cash: Money market funds — 3,153 — 3,153 Total $ 14,126 $ 1,284,514 $ — $ 1,298,640 December 31, 2022 Level 1 Level 2 Level 3 Total (in thousands) Cash equivalents and investments: Money market funds $ 11,518 $ — $ — $ 11,518 Commercial paper — 16,036 — 16,036 Corporate bonds — 261,918 — 261,918 U.S. Government agency securities — 39,965 — 39,965 U.S. Treasury securities — 876,534 — 876,534 Restricted cash: Money market funds — 3,153 — 3,153 Total $ 11,518 $ 1,197,606 $ — $ 1,209,124 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, 2023 and December 31, 2022, 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, 2023, the fair value of the 2025 Notes was $ 725.5 million . The fair value was determined based on the quoted price of the 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 $ 49.6 million of strategic investments without readily determinable fair values at March 31, 2023 and $ 43.6 million of strategic investments without readily determinable fair values at December 31, 2022. These investments are included in other assets on the consolidated balance sheets. There were no adjustments to the carrying value of the strategic investments resulting from impairments or observable price changes in the three months ended March 31, 2023. The following tables summarize the composition of our short- and long-term investments at March 31, 2023 and December 31, 2022. March 31, 2023 Amortized Unrealized Unrealized Aggregate (in thousands) Commercial paper $ 20,325 $ — $ — $ 20,325 Corporate bonds 250,920 96 ( 2,523 ) 248,493 U.S. Government agency securities 55,791 13 ( 629 ) 55,175 U.S. Treasury securities 959,613 319 ( 2,564 ) 957,368 Total $ 1,286,649 $ 428 $ ( 5,716 ) $ 1,281,361 December 31, 2022 Amortized Unrealized Unrealized Aggregate (in thousands) Commercial paper $ 16,036 $ — $ — $ 16,036 Corporate bonds 265,875 9 ( 3,966 ) 261,918 U.S. Government agency securities 40,908 1 ( 944 ) 39,965 U.S. Treasury securities 881,428 14 ( 4,908 ) 876,534 Total $ 1,204,247 $ 24 $ ( 9,818 ) $ 1,194,453 For all of our securities for which the amortized cost basis was greater than the fair value at March 31, 2023, 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, 2023 and December 31, 2022 are as follows: March 31, 2023 December 31, 2022 Amortized Aggregate Amortized Aggregate (in thousands) (in thousands) Due within one year $ 1,164,216 $ 1,159,547 $ 1,089,250 $ 1,081,662 Due after 1 year through 2 years 122,433 121,814 114,997 112,791 Total $ 1,286,649 $ 1,281,361 $ 1,204,247 $ 1,194,453

Restricted cash

Restricted cash	3 Months Ended
	Mar. 31, 2023
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, 2023 and 2022. March 31, 2023 March 31, 2022 December 31, 2022 (in thousands) Cash and cash equivalents $ 325,159 $ 408,433 $ 331,022 Restricted cash, included in prepaid expenses and other 3,153 3,029 3,153 Total cash, cash equivalents, and restricted cash $ 328,312 $ 411,462 $ 334,175

Property and Equipment, Net

Property and Equipment, Net	3 Months Ended
	Mar. 31, 2023
Property, Plant and Equipment [Abstract]
Property and Equipment, Net	6. Property and Equipment, Net Property and equipment, net consists of the following: March 31, 2023 December 31, 2022 (in thousands) Computer equipment and purchased software $ 17,998 $ 17,710 Employee related computer equipment 45,301 46,399 Furniture and fixtures 21,017 21,232 Leasehold improvements 97,077 98,427 Internal-use software 35,172 32,205 Construction in progress 7,020 1,699 Total property and equipment 223,585 217,672 Less accumulated depreciation ( 116,525 ) ( 112,445 ) Property and equipment, net $ 107,060 $ 105,227 Depreciation and amortization expense on property and equipment was $ 7.5 million for the three months ended March 31, 2023 and $ 6.3 million for the three months ended March 31, 2022. In the three months ended March 31, 2023, the Company disposed of $ 0.9 million of fixed assets, net, as part of the Restructuring Plan (defined in Note 14). Refer to Note 14 regarding the loss associated with fixed asset disposals in connection with the Restructuring Plan.

Capitalized Software Developmen

Capitalized Software Development Costs	3 Months Ended
	Mar. 31, 2023
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, 2023 December 31, 2022 (in thousands) Gross capitalized software development costs $ 191,858 $ 174,732 Accumulated amortization ( 118,790 ) ( 110,942 ) Capitalized software development costs, net $ 73,068 $ 63,790 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 $ 9.8 million for the three months ended March 31, 2023 and $ 7.1 million for three months ended March 31, 2022 .

Convertible Senior Notes

Convertible Senior Notes	3 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
Convertible Senior Notes	8. Convertible Senior Notes 2025 Convertible Senior Notes and Capped Call Options In June 2020, the Company issued $ 400 million aggregate principal amount of 0.375 % convertible senior notes due June 1, 2025 (the “2025 Notes”) in a private offering and an additional $ 60 million aggregate principal amount of the 2025 Notes pursuant to the exercise in full of the over-allotment options of the initial purchasers. 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, 2023 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, 2023. As of April 28, 2023, the Company has no t received any conversion notices. The net carrying amount of the liability component of the 2025 Notes is as follows: As of March 31, 2023 As of December 31, 2022 (in thousands) Principal $ 459,083 $ 459,083 Unamortized issuance costs ( 4,371 ) ( 4,856 ) Net carrying amount $ 454,712 $ 454,227 Interest expense related to the 2025 Notes is as follows: Three Months Ended March 31, 2023 2022 (in thousands) Contractual interest expense $ 431 $ 431 Amortization of issuance costs 484 481 Total interest expense $ 915 $ 912 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. 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. 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. On June 1, 2022, upon the maturity of the 2022 Notes, the Company paid $ 19.4 million to satisfy the aggregate principal amount due and $ 60.4 million for the conversion premium in excess of the principal amount. The remaining Convertible Note Hedges were settled in cash and the Company received approximately $ 60.5 million in cash upon settlement. In addition, the remaining 1.4 million shares of Warrants were exercised in the fourth quarter of 2022, which the Company net share settled and issued 0.8 million shares of its common stock.

Leases

Leases	3 Months Ended
	Mar. 31, 2023
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, 2023, the Company terminated and abandoned various leases of office spaces globally. The Company recorded a reduction in right-of-use assets of $ 2.2 million and in lease liabilities of $ 1.2 million for these leases during the period upon the lease termination or abandonment. Refer to Note 14 regarding the loss associated with the lease termination and abandonment in connection with the Restructuring Plan. 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, 2023 was 4.9 %. Operating lease expense costs were $ 12.9 million for the three months ended March 31, 2023 and $ 10.9 million for the three months ended March 31, 2022. The Company subleases some of its unused spaces to third parties. Operating sublease income generated under all operating lease agreements for the three months ended March 31, 2023 and 2022 are as follows: Three Months Ended March 31, 2023 2022 (in thousands) Operating sublease income $ 2,028 $ 1,188 Cash payments related to operating lease liabilities were $ 14.4 million for the three months ended March 31, 2023 and $ 7.6 million for the three months ended March 31, 2022 .

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2023
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 $ 78.4 million. Future minimum payments under all operating lease agreements as of March 31, 2023 are as follows: Operating Leases (in thousands) Remainder of 2023 $ 39,595 2024 49,350 2025 48,953 2026 49,072 2027 46,320 Thereafter 196,134 Total $ 429,424 Future minimum payments under all non-cancelable arrangements as of March 31, 2023 and agreements entered into since then are as follows: Vendor Commitments (in thousands) Remainder of 2023 $ 135,459 2024 201,800 2025 213,422 2026 220,200 2027 187,684 Thereafter 184 Total $ 958,749 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, 2023
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, 2023. Cumulative Translation Adjustment Unrealized Total (in thousands) Beginning balance at January 1, 2023 ( 3,070 ) ( 9,820 ) ( 12,890 ) Other comprehensive gain before reclassifications 627 4,507 5,134 Amounts reclassified from accumulated other — — — Ending balance at March 31, 2023 ( 2,443 ) ( 5,313 ) ( 7,756 )

Stock-Based Compensation Expens

Stock-Based Compensation Expense	3 Months Ended
	Mar. 31, 2023
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, 2023 2022 (in thousands) Options $ 2,707 $ 1,999 RSUs 73,032 40,807 PSUs 3,234 — Employee stock purchase plan 4,064 2,898 Total stock-based compensation expense $ 83,037 $ 45,704 In the first quarter of 2023, the Compensation Committee of the Board of Directors approved the grant of performance-based restricted stock units (“PSUs”) that are eligible to be earned upon the achievement of a pre-determined revenue growth metric. To the extent earned, 33 % of the PSUs will vest in the first quarter of 2024 and the remaining 67 % will vest in eight equal quarterly installments thereafter . No PSUs will be earned if the pre-determined revenue growth metric is not achieved, and the overall number of shares that may be earned shall not exceed 150 % of the target award. Stock-based compensation costs for PSUs are recognized using the graded vesting attribution method over the requisite service period. Effect of stock-based compensation expense on income by line item: Three Months Ended March 31, 2023 2022 (in thousands) Cost of revenue, subscription $ 2,745 $ 1,823 Cost of revenue, professional services and other 1,087 835 Research and development 33,324 16,986 Sales and marketing 30,169 16,869 General and administrative 15,712 9,191 Total stock-based compensation expense $ 83,037 $ 45,704 Capitalized software development costs excluded from stock-based compensation expense is $ 4.6 million for the three months ended March 31, 2023 and $ 1.6 million for the three months ended March 31, 2022 . Also excluded in the three months ended March 31, 2023 is $ 1.0 million of stock-based compensation expense incurred in connection with the Restructuring Plan. See Note 14 for more details.

Segment Information and Geograp

Segment Information and Geographic Data	3 Months Ended
	Mar. 31, 2023
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, 2023 2022 (in thousands) Americas $ 307,822 $ 242,027 Europe 150,839 119,189 Asia Pacific 42,959 34,383 Total $ 501,620 $ 395,599 Percentage of revenues generated outside of 39 % 39 % Revenue derived from customers outside the United States (international) was approximately 46 % of total revenue in the three months ended March 31, 2023 and 2022. Total long-lived assets by geographical region: As of March 31, 2023 As of December 31, 2022 (in thousands) Americas $ 289,138 $ 290,977 Europe 120,535 123,311 Asia Pacific 7,387 10,243 Total long-lived assets $ 417,060 $ 424,531 Percentage of long-lived assets held outside of the Americas 31 % 31 %

Restructuring Plan

Restructuring Plan	3 Months Ended
	Mar. 31, 2023
Restructuring and Related Activities [Abstract]
Restructuring Plan	14. Restructuring Plan On January 25, 2023, the Company's board of directors authorized a restructuring plan (the “Restructuring Plan”) that is designed to reduce operating costs and enable investment in key opportunities for long-term growth while driving continued profitability. The Restructuring Plan includes a reduction of the Company’s workforce by approximately 7 % and a global lease consolidation to create higher density across our workspaces. In the three months ended March 31, 2023 , the Company incurred $ 28.6 million of restructuring charges, primarily composed of $ 26.8 million for severance, employee related benefits, and other costs, including $ 1.0 million of stock-based compensation expense, and $ 1.8 million related to facilities. The charges were recorded to the restructuring line item within the consolidated statements of operations. The following table summarizes the Company's restructuring liabilities, which is recorded in current liabilities, as of March 31, 2023. The Company expects to make most payments associated with these restructuring costs in the second quarter of 2023. Restructuring liability (in thousands) Beginning balance at January 1, 2023 $ — Charges 25,793 Payments ( 21,903 ) Ending balance at March 31, 2023 $ 3,890 The Company expects to make most payments associated with these restructuring costs in the second quarter of 2023. The actions associated with the workforce reduction under the Restructuring Plan are expected to be complete by the end of the second quarter of 2023, subject to local law and consultation requirements. The actions associated with the global lease consolidation under the Restructuring Plan are expected to be fully completed in 2023 . The Company estimates that it will incur additional charges of approximately $ 62.0 million to $ 69.0 million, majority of which relates to lease consolidation.

Organization and Operations (Po

Organization and Operations (Policies)	3 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements The Company has implemented all applicable accounting pronouncements that are in effect and there are no new accounting pronouncements that have been issued that would have a material impact on its financial position or results of operations.
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, 2023 increased by $ 31.5 million resulting from $ 533.1 million of additional invoicing and was offset by revenue recognized of $ 501.6 million during the same period. $ 289.8 million of revenue was recognized during the three months ended March 31, 2023 that was included in deferred revenue at the beginning of the period. As of March 31, 2023, approximately $ 622.3 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 90 % of these remaining performance obligations over the next 24 months , with the balance recognized thereafter. Additional contract liabilities of $ 3.6 million and $ 3.0 were included in accrued expenses and other current liabilities on the consolidated balance sheet as of March 31, 2023 and December 31, 2022. The incremental direct costs of obtaining a contract, which primarily consist of sales and partner commissions paid for new subscription contracts, are deferred and amortized on a straight-line basis over a period of approximately two to four years. The two to four-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 and partner 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, 2023 increased by $ 19.2 million as a result of deferring incremental costs of obtaining a contract of $ 40.9 million and was offset by amortization of $ 21.7 million during the same period.

Net Loss per Share (Tables)

Net Loss per Share (Tables)	3 Months Ended
	Mar. 31, 2023
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, 2023 2022 Net loss $ ( 38,282 ) $ ( 9,341 ) Weighted-average common shares outstanding — basic 49,395 47,577 Dilutive effect of share equivalents resulting from stock — — Weighted-average common shares, outstanding — diluted 49,395 47,577 Net loss per share, basic and diluted $ ( 0.78 ) $ ( 0.20 )
Schedule of Potentially Dilutive Common Stock Equivalents	The following table contains all potentially dilutive common stock equivalents. As of March 31, 2023 2022 (in thousands) Options to purchase common shares 511 527 RSUs 1,698 1,145 Conversion Option of the 2022 Notes and Warrants — 1,232 Conversion Option of the 2025 Notes 1,625 1,627 PSUs — — ESPP — —

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2023
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, 2023 and December 31, 2022: March 31, 2023 Level 1 Level 2 Level 3 Total (in thousands) Cash equivalents and investments: Money market funds $ 14,126 $ — $ — $ 14,126 Commercial paper — 20,325 — 20,325 Corporate bonds — 248,493 — 248,493 U.S. Government agency securities — 55,175 — 55,175 U.S. Treasury securities — 957,368 — 957,368 Restricted cash: Money market funds — 3,153 — 3,153 Total $ 14,126 $ 1,284,514 $ — $ 1,298,640 December 31, 2022 Level 1 Level 2 Level 3 Total (in thousands) Cash equivalents and investments: Money market funds $ 11,518 $ — $ — $ 11,518 Commercial paper — 16,036 — 16,036 Corporate bonds — 261,918 — 261,918 U.S. Government agency securities — 39,965 — 39,965 U.S. Treasury securities — 876,534 — 876,534 Restricted cash: Money market funds — 3,153 — 3,153 Total $ 11,518 $ 1,197,606 $ — $ 1,209,124
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, 2023 and December 31, 2022. March 31, 2023 Amortized Unrealized Unrealized Aggregate (in thousands) Commercial paper $ 20,325 $ — $ — $ 20,325 Corporate bonds 250,920 96 ( 2,523 ) 248,493 U.S. Government agency securities 55,791 13 ( 629 ) 55,175 U.S. Treasury securities 959,613 319 ( 2,564 ) 957,368 Total $ 1,286,649 $ 428 $ ( 5,716 ) $ 1,281,361 December 31, 2022 Amortized Unrealized Unrealized Aggregate (in thousands) Commercial paper $ 16,036 $ — $ — $ 16,036 Corporate bonds 265,875 9 ( 3,966 ) 261,918 U.S. Government agency securities 40,908 1 ( 944 ) 39,965 U.S. Treasury securities 881,428 14 ( 4,908 ) 876,534 Total $ 1,204,247 $ 24 $ ( 9,818 ) $ 1,194,453
Summary of Contractual Maturities of Short and Long Term Investments	The contractual maturities of short-term and long-term investments held at March 31, 2023 and December 31, 2022 are as follows: March 31, 2023 December 31, 2022 Amortized Aggregate Amortized Aggregate (in thousands) (in thousands) Due within one year $ 1,164,216 $ 1,159,547 $ 1,089,250 $ 1,081,662 Due after 1 year through 2 years 122,433 121,814 114,997 112,791 Total $ 1,286,649 $ 1,281,361 $ 1,204,247 $ 1,194,453

Restricted cash (Tables)

Restricted cash (Tables)	3 Months Ended
	Mar. 31, 2023
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, 2023 and 2022. March 31, 2023 March 31, 2022 December 31, 2022 (in thousands) Cash and cash equivalents $ 325,159 $ 408,433 $ 331,022 Restricted cash, included in prepaid expenses and other 3,153 3,029 3,153 Total cash, cash equivalents, and restricted cash $ 328,312 $ 411,462 $ 334,175

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	3 Months Ended
	Mar. 31, 2023
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment, Net	Property and equipment, net consists of the following: March 31, 2023 December 31, 2022 (in thousands) Computer equipment and purchased software $ 17,998 $ 17,710 Employee related computer equipment 45,301 46,399 Furniture and fixtures 21,017 21,232 Leasehold improvements 97,077 98,427 Internal-use software 35,172 32,205 Construction in progress 7,020 1,699 Total property and equipment 223,585 217,672 Less accumulated depreciation ( 116,525 ) ( 112,445 ) Property and equipment, net $ 107,060 $ 105,227

Capitalized Software Developm_2

Capitalized Software Development Costs (Tables)	3 Months Ended
	Mar. 31, 2023
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, 2023 December 31, 2022 (in thousands) Gross capitalized software development costs $ 191,858 $ 174,732 Accumulated amortization ( 118,790 ) ( 110,942 ) Capitalized software development costs, net $ 73,068 $ 63,790

Convertible Senior Notes (Table

Convertible Senior Notes (Tables)	3 Months Ended
	Mar. 31, 2023
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, 2023 As of December 31, 2022 (in thousands) Principal $ 459,083 $ 459,083 Unamortized issuance costs ( 4,371 ) ( 4,856 ) Net carrying amount $ 454,712 $ 454,227
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, 2023 2022 (in thousands) Contractual interest expense $ 431 $ 431 Amortization of issuance costs 484 481 Total interest expense $ 915 $ 912

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2023
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 months ended March 31, 2023 and 2022 are as follows: Three Months Ended March 31, 2023 2022 (in thousands) Operating sublease income $ 2,028 $ 1,188

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Schedule of Future Minimum Payments	Future minimum payments under all operating lease agreements as of March 31, 2023 are as follows: Operating Leases (in thousands) Remainder of 2023 $ 39,595 2024 49,350 2025 48,953 2026 49,072 2027 46,320 Thereafter 196,134 Total $ 429,424
Schedule of Future Minimum Payments Under Non-Cancelable Arrangements	Future minimum payments under all non-cancelable arrangements as of March 31, 2023 and agreements entered into since then are as follows: Vendor Commitments (in thousands) Remainder of 2023 $ 135,459 2024 201,800 2025 213,422 2026 220,200 2027 187,684 Thereafter 184 Total $ 958,749

Changes in Accumulated Other _2

Changes in Accumulated Other Comprehensive Loss (Tables)	3 Months Ended
	Mar. 31, 2023
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, 2023. Cumulative Translation Adjustment Unrealized Total (in thousands) Beginning balance at January 1, 2023 ( 3,070 ) ( 9,820 ) ( 12,890 ) Other comprehensive gain before reclassifications 627 4,507 5,134 Amounts reclassified from accumulated other — — — Ending balance at March 31, 2023 ( 2,443 ) ( 5,313 ) ( 7,756 )

Stock-Based Compensation Expe_2

Stock-Based Compensation Expense (Tables)	3 Months Ended
	Mar. 31, 2023
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, 2023 2022 (in thousands) Options $ 2,707 $ 1,999 RSUs 73,032 40,807 PSUs 3,234 — Employee stock purchase plan 4,064 2,898 Total stock-based compensation expense $ 83,037 $ 45,704
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, 2023 2022 (in thousands) Cost of revenue, subscription $ 2,745 $ 1,823 Cost of revenue, professional services and other 1,087 835 Research and development 33,324 16,986 Sales and marketing 30,169 16,869 General and administrative 15,712 9,191 Total stock-based compensation expense $ 83,037 $ 45,704

Segment Information and Geogr_2

Segment Information and Geographic Data (Tables)	3 Months Ended
	Mar. 31, 2023
Segment Reporting [Abstract]
Revenues by Geographical Region	Revenues by geographical region: Three Months Ended March 31, 2023 2022 (in thousands) Americas $ 307,822 $ 242,027 Europe 150,839 119,189 Asia Pacific 42,959 34,383 Total $ 501,620 $ 395,599 Percentage of revenues generated outside of 39 % 39 %
Long Lived Assets by Geographical Region	Total long-lived assets by geographical region: As of March 31, 2023 As of December 31, 2022 (in thousands) Americas $ 289,138 $ 290,977 Europe 120,535 123,311 Asia Pacific 7,387 10,243 Total long-lived assets $ 417,060 $ 424,531 Percentage of long-lived assets held outside of the Americas 31 % 31 %

Restructuring Plan (Tables)

Restructuring Plan (Tables)	3 Months Ended
	Mar. 31, 2023
Restructuring and Related Activities [Abstract]
Summary of Restructuring Liabilities	The following table summarizes the Company's restructuring liabilities, which is recorded in current liabilities, as of March 31, 2023. The Company expects to make most payments associated with these restructuring costs in the second quarter of 2023. Restructuring liability (in thousands) Beginning balance at January 1, 2023 $ — Charges 25,793 Payments ( 21,903 ) Ending balance at March 31, 2023 $ 3,890

Revenues - Additional Informati

Revenues - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Revenue, Initial Application Period Cumulative Effect Transition1 [Line Items]
Additions in deferred revenue	$ 31,500
Additional Invoicing	533,100
Total revenues	501,620	$ 395,599
Deferred revenue, revenue recognized	289,800
Revenue remaining performance obligation, contracts exceeds one year	$ 622,300
Revenue remaining performance obligation contract period	1 year
Revenue remaining performance obligation percentage recognized	90%
Short-term deferred revenue	$ 571,793		$ 539,874
Increase (decrease) in deferred commission expense	19,200
Incremental costs of deferred sales commission expense	40,900
Amortization of deferred commission expense	$ 21,700
Minimum [Member]
Revenue, Initial Application Period Cumulative Effect Transition1 [Line Items]
Amortization period of deferred commissions	2 years
Maximum [Member]
Revenue, Initial Application Period Cumulative Effect Transition1 [Line Items]
Amortization period of deferred commissions	4 years
Accrued Expenses and Other Current Liabilities [Member]
Revenue, Initial Application Period Cumulative Effect Transition1 [Line Items]
Short-term deferred revenue	$ 3,600		$ 3,000

Revenues - Additional Informa_2

Revenues - Additional Information1 (Detail)	Mar. 31, 2023
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2022-01-01
Revenue, Initial Application Period Cumulative Effect Transition1 [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, 2023	Mar. 31, 2022
Earnings Per Share [Abstract]
Net loss	$ (38,282)	$ (9,341)
Weighted-average common shares outstanding - basic	49,395	47,577
Weighted-average common shares, outstanding — diluted	49,395	47,577
Net loss per common share, basic	$ (0.78)	$ (0.20)
Net loss per common share, diluted	$ (0.78)	$ (0.20)

Net Loss per Share - Additional

Net Loss per Share - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2023 d Days $ / shares	Apr. 28, 2023 USD ($)	Jun. 30, 2020 $ / shares
Earnings Per Share Basic [Line Items]
Average stock price | $ / shares	$ 364.93
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
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%
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
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%
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	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
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	1,625	1,627,000
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	511	527,000
RSUs [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	1,698	1,145,000
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		1,232,000

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, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of short and long term investments	$ 1,281,361	$ 1,194,453
Fair value of financial assets	1,298,640	1,209,124
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of financial assets	14,126	11,518
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of financial assets	1,284,514	1,197,606
Money Market Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of cash and cash equivalents	14,126	11,518
Fair value of restricted cash	3,153	3,153
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	14,126	11,518
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	3,153	3,153
Commercial Paper [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of short and long term investments	20,325	16,036
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	20,325	16,036
Corporate Bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of short and long term investments	248,493	261,918
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	248,493	261,918
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	55,175	39,965
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	55,175	39,965
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	957,368	876,534
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	$ 957,368	$ 876,534

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Additional Information (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Other assets	$ 66,145	$ 58,795
Strategic Investments [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Other assets	49,600	$ 43,600
2025 Notes [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Fair value of notes	$ 725,500

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, 2023	Dec. 31, 2022
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 1,286,649	$ 1,204,247
Unrealized Gains	428	24
Unrealized Losses	(5,716)	(9,818)
Aggregate Fair Value	1,281,361	1,194,453
Commercial Paper [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	20,325	16,036
Aggregate Fair Value	20,325	16,036
Corporate Bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	250,920	265,875
Unrealized Gains	96	9
Unrealized Losses	(2,523)	(3,966)
Aggregate Fair Value	248,493	261,918
U.S. Government Agency Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	55,791	40,908
Unrealized Gains	13	1
Unrealized Losses	(629)	(944)
Aggregate Fair Value	55,175	39,965
US Treasury Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	959,613	881,428
Unrealized Gains	319	14
Unrealized Losses	(2,564)	(4,908)
Aggregate Fair Value	$ 957,368	$ 876,534

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, 2023	Dec. 31, 2022
Fair Value Disclosures [Abstract]
Amortized Cost Basis, Due within one year	$ 1,164,216	$ 1,089,250
Amortized Cost Basis, Due after 1 year through 2 years	122,433	114,997
Amortized Cost	1,286,649	1,204,247
Aggregate Fair Value, Due within one year	1,159,547	1,081,662
Aggregate Fair Value, Due after 1 year through 2 years	121,814	112,791
Aggregate Fair Value, Total	$ 1,281,361	$ 1,194,453

Equity Method Investment - Addi

Equity Method Investment - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Schedule Of Equity Method Investments [Line Items]
Net loss	$ (38,282)	$ (9,341)

Restricted Cash - Summary of Re

Restricted Cash - Summary of Reconciliation of Cash, Cash Equivalents and Restricted Cash (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022
Cash and Cash Equivalents [Abstract]
Cash and cash equivalents	$ 325,159	$ 331,022	$ 408,433
Restricted cash, included in prepaid expenses and other current assets and other assets	$ 3,153	$ 3,153	$ 3,029
Restricted Cash, Asset, Statement of Financial Position [Extensible List]	Prepaid expenses and other current assets	Prepaid expenses and other current assets	Prepaid expenses and other current assets
Total cash, cash equivalents, and restricted cash	$ 328,312	$ 334,175	$ 411,462

Property and Equipment, Net - S

Property and Equipment, Net - Schedule of Property and Equipment, Net (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 223,585	$ 217,672
Less accumulated depreciation	(116,525)	(112,445)
Property and equipment, net	107,060	105,227
Computer Equipment and Purchased Software [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	17,998	17,710
Employee Related Computer Equipment [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	45,301	46,399
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	21,017	21,232
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	97,077	98,427
Internal Use Software [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	35,172	32,205
Construction in Progress [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 7,020	$ 1,699

Property and Equipment, Net - A

Property and Equipment, Net - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Property, Plant and Equipment [Abstract]
Depreciation and amortization	$ 7.5	$ 6.3
Disposal of fixed asset	$ 0.9

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, 2023	Dec. 31, 2022
Capitalized Computer Software, Net [Abstract]
Gross capitalized software development costs	$ 191,858	$ 174,732
Accumulated amortization	(118,790)	(110,942)
Capitalized software development costs, net	$ 73,068	$ 63,790

Capitalized Software Developm_4

Capitalized Software Development Costs - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Capitalized Computer Software, Net [Abstract]
Amortization of software development costs, exclusive of costs recorded within property and equipment	$ 9.8	$ 7.1

Convertible Senior Notes - Addi

Convertible Senior Notes - Additional Information (Detail)		1 Months Ended		3 Months Ended
	Jun. 01, 2022 USD ($)	Jun. 30, 2020 USD ($) $ / shares shares	May 31, 2017 USD ($)	Mar. 31, 2023 d $ / shares shares	Mar. 31, 2022 USD ($)	Apr. 28, 2023 USD ($)
Debt Instrument [Line Items]
Aggregate principal amount paid					$ 1,619,000
Cash received upon settlement	$ 60,500,000
0.375% Convertible Senior Notes Due 2025 [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage		0.375%
Debt instrument, maturity date				Jun. 01, 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
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%
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]
Debt instrument, interest rate, stated percentage			0.25%
Debt instrument, maturity date				Jun. 01, 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
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
Aggregate principal amount paid	19,400,000
Conversion premium in excess of principal amount	$ 60,400,000
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
Shares settled and issued | shares				800,000
0.25% Convertible Senior Notes Due 2022 [Member] | Warrants [Member]
Debt Instrument [Line Items]
Warrant exercised | shares				1,400,000
0.25% Convertible Senior Notes Due 2022 [Member] | Private Offering [Member]
Debt Instrument [Line Items]
Principal amount of long term debt			350,000,000
0.25% Convertible Senior Notes Due 2022 [Member] | Over-Allotment Options [Member]
Debt Instrument [Line Items]
Principal amount of long term debt			$ 50,000

Convertible Senior Notes - Sche

Convertible Senior Notes - Schedule of Net Carrying Amount of Liability Component (Detail) - 0.375%Convertible Senior Notes Due 2025 as Liability Component [Member] - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Principal	$ 459,083	$ 459,083
Unamortized issuance costs	(4,371)	(4,856)
Net carrying amount	$ 454,712	$ 454,227

Convertible Senior Notes - Sc_2

Convertible Senior Notes - Schedule of Interest Expense (Detail) - 0.375% Convertible Senior Notes Due 2025 [Member] - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Debt Instrument [Line Items]
Contractual interest expense	$ 431	$ 431
Amortization of issuance costs	484	481
Total interest expense	$ 915	$ 912

Leases - Additional Information

Leases - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Lessee Lease Description [Line Items]
Reduction in right-of use assets	$ 2.2
Reduction in lease liabilities	$ 1.2
Weighted average discount rate for operating leases	4.90%
Operating lease expense costs	$ 12.9	$ 10.9
Cash payments for operating lease liabilities	$ 14.4	$ 7.6

Leases - Schedule of Operating

Leases - Schedule of Operating Sublease Income Generated under Operating Lease Agreements (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Leases [Abstract]
Operating sublease income	$ 2,028	$ 1,188

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) $ in Millions	3 Months Ended
	Mar. 31, 2023 USD ($)
Commitments and Contingencies [Line Items]
Increase in future lease commitments	$ 78.4

Commitments and Contingencies_2

Commitments and Contingencies - Schedule of Future Minimum Payments (Detail) $ in Thousands	Mar. 31, 2023 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Operating, Remainder of 2023	$ 39,595
Operating, 2024	49,350
Operating, 2025	48,953
Operating, 2026	49,072
Operating, 2027	46,320
Operating, Thereafter	196,134
Total	$ 429,424

Commitments and Contingencies_3

Commitments and Contingencies - Schedule of Future Minimum Payments Under Non-Cancelable Arrangements (Details) - Vendor Commitments [Member] $ in Thousands	Mar. 31, 2023 USD ($)
Long-Term Purchase Commitment [Line Items]
Remainder of 2023	$ 135,459
Non-cancelable arrangements, 2024	201,800
Non-cancelable arrangements, 2025	213,422
Non-cancelable arrangements, 2026	220,200
Non-cancelable arrangements, 2027	187,684
Non-cancelable arrangements, Thereafter	184
Purchase Obligation, Total	$ 958,749

Business Acquisition - Addition

Business Acquisition - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Business Acquisition [Line Items]
Income tax benefit	$ 2,263	$ 1,444

Business Acquisition - Summary

Business Acquisition - Summary of Fair Value of Assets Acquired and Liabilities Assumed (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Business Acquisition [Line Items]
Goodwill	$ 46,454	$ 46,227

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, 2023	Mar. 31, 2022
Class Of Stock [Line Items]
Beginning Balance, Amount	$ 992,224	$ 873,799
Issuance of common stock under stock plans	1,196	2,145
Stock-based compensation	87,305	46,436
Equity component of notes payable, net of issuance costs & repayment		(691)
Cumulative translation adjustment	627	(356)
Unrealized gain on investments, net of income taxes	4,507	(4,001)
Net loss	(38,282)	(9,341)
Ending Balance, Amount	1,046,379	833,836
Common Stock [Member]
Class Of Stock [Line Items]
Beginning Balance, Amount	$ 49	$ 47
Beginning Balance, Shares	49,217	47,390
Issuance of common stock under stock plans		$ 1
Issuance of common stock under stock plans, Shares	260	250
Ending Balance, Amount	$ 49	$ 48
Ending Balance, Shares	49,473	47,640
Treasury Stock [Member]
Class Of Stock [Line Items]
Beginning Balance, Shares	910	910
Ending Balance, Shares	910	910
Additional Paid-In Capital [Member]
Class Of Stock [Line Items]
Beginning Balance, Amount	$ 1,647,446	$ 1,436,089
Issuance of common stock under stock plans	1,196	2,144
Stock-based compensation	87,305	46,436
Equity component of notes payable, net of issuance costs & repayment		(691)
Ending Balance, Amount	1,734,749	1,378,457
Accumulated Other Comprehensive Income (Loss) [Member]
Class Of Stock [Line Items]
Beginning Balance, Amount	(12,890)	(1,339)
Cumulative translation adjustment	627	(356)
Unrealized gain on investments, net of income taxes	4,507	(4,001)
Ending Balance, Amount	(7,756)	(5,696)
Accumulated Deficit [Member]
Class Of Stock [Line Items]
Beginning Balance, Amount	(642,381)	(560,998)
Net loss	(38,282)	(9,341)
Ending Balance, Amount	$ (680,663)	$ (538,973)

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, 2023	Mar. 31, 2022
Stockholders' Equity Note [Abstract]
Unrealized gain (loss) on investments, tax	$ 0	$ 0

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, 2023 USD ($)
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance, Amount	$ 992,224
Other comprehensive gain before reclassifications	5,134
Ending Balance, Amount	1,046,379
Cumulative Translation Adjustment [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance, Amount	(3,070)
Other comprehensive gain before reclassifications	627
Ending Balance, Amount	(2,443)
Unrealized Loss on Investments [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance, Amount	(9,820)
Other comprehensive gain before reclassifications	4,507
Ending Balance, Amount	(5,313)
Accumulated Other Comprehensive Loss [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance, Amount	(12,890)
Ending Balance, Amount	$ (7,756)

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, 2023	Mar. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	$ 83,037	$ 45,704
Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	2,707	1,999
RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	73,032	40,807
PSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	3,234
ESPP [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	$ 4,064	$ 2,898

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, 2023	Mar. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	$ 83,037	$ 45,704
Cost of Revenue, Subscription [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	2,745	1,823
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	1,087	835
Research and Development [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	33,324	16,986
Sales and Marketing [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	30,169	16,869
General and Administrative [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	$ 15,712	$ 9,191

Stock-Based Compensation Expe_5

Stock-Based Compensation Expense - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense		$ 83,037	$ 45,704
Restructuring Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense		$ 1,000
PSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Description of the remaining percentage of earned grant to be paid		67%
Vesting installment thereafter description		vest in eight equal quarterly installments thereafter
Description of remaining percentage of earned grants to be paid		remaining 67% will vest in eight equal quarterly installments thereafter
Not to exceed target award percentage of overall shares earned		150%
Stock-based compensation expense		$ 3,234
PSUs [Member] | Forecast [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Vesting percentage of earned grants	33%
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		$ 4,600	$ 1,600

Segment Information and Geogr_3

Segment Information and Geographic Data - Additional Information (Detail) - Segment	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
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%	46%

Segment Information and Geogr_4

Segment Information and Geographic Data - Revenues by Geographical Region (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Segment Reporting Information [Line Items]
Total revenues	$ 501,620	$ 395,599
Americas [Member]
Segment Reporting Information [Line Items]
Total revenues	307,822	242,027
Europe [Member]
Segment Reporting Information [Line Items]
Total revenues	150,839	119,189
Asia Pacific [Member]
Segment Reporting Information [Line Items]
Total revenues	$ 42,959	$ 34,383
Revenue [Member] | Outside Of Americas [Member] | Geographic Concentration Risk [Member]
Segment Reporting Information [Line Items]
Percentage of revenues generated outside of the Americas	39%	39%

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, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Total long lived assets	$ 417,060	$ 424,531
Americas [Member]
Segment Reporting Information [Line Items]
Total long lived assets	289,138	290,977
Europe [Member]
Segment Reporting Information [Line Items]
Total long lived assets	120,535	123,311
Asia Pacific [Member]
Segment Reporting Information [Line Items]
Total long lived assets	$ 7,387	$ 10,243
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	31%	31%

Restructuring Plan - Additional

Restructuring Plan - Additional Information (Details) - USD ($) $ in Thousands		3 Months Ended
	Jan. 25, 2023	Mar. 31, 2023
Restructuring Costs [Line Items]
Employee reduction percentage	7%
Restructuring charges		$ 28,570
Restructuring and related activities completion year	2023
Severance, Employee Related Benefits And Other Costs [Member]
Restructuring Costs [Line Items]
Restructuring charges		26,800
Stock-Based Compensation Expense [Member]
Restructuring Costs [Line Items]
Restructuring charges		1,000
Facilities [Member]
Restructuring Costs [Line Items]
Restructuring charges		$ 1,800
Global Lease Consolidation [Member] | Maximum [Member]
Restructuring Costs [Line Items]
Restructuring charges	$ 69,000
Global Lease Consolidation [Member] | Minimum [Member]
Restructuring Costs [Line Items]
Restructuring charges	$ 62,000

Restructuring Plan - Summary of

Restructuring Plan - Summary of Restructuring Liabilities (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($)
Restructuring Reserve [Roll Forward]
Charges	$ 28,570
Restructuring Liability [Member]
Restructuring Reserve [Roll Forward]
Charges	25,793
Payments	(21,903)
Ending balance	$ 3,890