HubSpot (HUBS) 10-Q 6 Nov 24 2024 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2024	Nov. 01, 2024
Entity Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Trading Symbol	HUBS
Entity Registrant Name	HubSpot, Inc.
Entity Central Index Key	0001404655
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false
Title of 12(b) Security	Common Stock, par value $0.001 per share
Security Exchange Name	NYSE
Entity File Number	001-36680
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	20-2632791
Entity Address, Address Line One	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		51,623,568

Unaudited Consolidated Balance

Unaudited Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 410,060	$ 387,987
Short-term investments	1,527,928	1,000,245
Accounts receivable - net of allowance for doubtful accounts of $5,357 at September 30, 2024 and $5,516 at December 31, 2023	278,893	295,303
Deferred commission expense	135,116	99,326
Prepaid expenses and other current assets	86,704	88,679
Total current assets	2,438,701	1,871,540
Long-term investments	165,623	325,703
Property and equipment, net	110,950	103,331
Capitalized software development costs, net	144,829	106,229
Right-of-use assets	225,922	251,071
Deferred commission expense, net of current portion	149,619	122,194
Other assets	112,045	75,247
Intangible assets, net	35,211	42,316
Goodwill	174,158	173,761
Total assets	3,557,058	3,071,392
Current liabilities:
Accounts payable	5,267	9,106
Accrued compensation costs	83,602	53,462
Accrued commissions	88,418	78,169
Accrued expenses and other current liabilities	99,358	94,074
Operating lease liabilities	34,630	35,047
Convertible senior notes	457,674
Deferred revenue	719,595	672,150
Total current liabilities	1,488,544	942,008
Operating lease liabilities, net of current portion	265,706	296,561
Deferred revenue, net of current portion	4,232	5,810
Other long-term liabilities	46,694	36,459
Convertible senior notes		456,206
Total liabilities	1,805,176	1,737,044
Commitments and contingencies (Note 10)
Stockholders’ equity:
Common stock	51	50
Additional paid-in capital	2,550,974	2,136,908
Accumulated other comprehensive income	5,649	1,827
Accumulated deficit	(804,792)	(804,437)
Total stockholders’ equity	1,751,882	1,334,348
Total liabilities and stockholders’ equity	$ 3,557,058	$ 3,071,392

Unaudited Consolidated Balanc_2

Unaudited Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Accounts receivable, allowance for doubtful accounts	$ 5,357	$ 5,516

Unaudited Consolidated Statemen

Unaudited Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Revenues:
Total revenue	$ 669,721	$ 557,557	$ 1,924,365	$ 1,588,315
Cost of revenues:
Total cost of revenues	99,324	85,640	289,928	250,921
Gross profit	570,397	471,917	1,634,437	1,337,394
Operating expenses:
Research and development	191,185	156,871	565,001	454,511
Sales and marketing	309,928	271,448	904,010	787,423
General and administrative	77,928	61,308	219,380	179,939
Restructuring	987	846	2,847	93,296
Total operating expenses	580,028	490,473	1,691,238	1,515,169
Loss from operations	(9,631)	(18,556)	(56,801)	(177,775)
Other income (expense):
Interest income	21,780	16,181	60,877	40,195
Interest expense	(936)	(950)	(2,772)	(2,817)
Other (expense) income	(565)	(1,664)	14,381	(2,128)
Total other income	20,279	13,567	72,486	35,250
Income (loss) before income tax expense	10,648	(4,989)	15,685	(142,525)
Income tax (expense) benefit	(2,502)	1,412	(16,040)	(9,575)
Net income (loss)	$ 8,146	$ (3,577)	$ (355)	$ (152,100)
Net income (loss) per share, basic	$ 0.16	$ (0.07)	$ (0.01)	$ (3.06)
Net income (loss) per share, diluted	$ 0.16	$ (0.07)	$ (0.01)	$ (3.06)
Weighted average common shares used in computing basic net income (loss) per share:	51,354	50,051	51,017	49,719
Weighted average common shares used in computing diluted net income (loss) per share:	51,778	50,051	51,017	49,719
Subscription [Member]
Revenues:
Total revenue	$ 654,738	$ 545,832	$ 1,882,241	$ 1,553,253
Cost of revenues:
Total cost of revenues	85,066	71,895	247,408	210,011
Professional Services and Other [Member]
Revenues:
Total revenue	14,983	11,725	42,124	35,062
Cost of revenues:
Total cost of revenues	$ 14,258	$ 13,745	$ 42,520	$ 40,910

Unaudited Consolidated Statem_2

Unaudited Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Net Income (Loss)	$ 8,146	$ (3,577)	$ (355)	$ (152,100)
Other comprehensive loss:
Foreign currency translation adjustment	5,349	(2,832)	2,548	(1,805)
Changes in unrealized loss on investments, net of income taxes of $0 for the three and nine months ended September 30, 2024 and 2023	5,612	1,839	2,209	5,317
Changes in unrealized loss on cash flow hedges, net of income taxes of $52 and $115 for the three months and nine months ended September 30, 2024, and $0 for the three and nine months ended September 30, 2023	(490)		(935)
Comprehensive income (loss)	$ 18,617	$ (4,570)	$ 3,467	$ (148,588)

Unaudited Consolidated Statem_3

Unaudited Consolidated Statements of Comprehensive Income (Loss) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Changes in unrealized gain (loss) on investments, income taxes	$ 0	$ 0	$ 0	$ 0
Changes in unrealized gain (loss) on cash flow hedges, income taxes	$ 52	$ 0	$ 115	$ 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, 2022	$ 994,678	$ 49		$ 1,647,446	$ (12,890)	$ (639,927)
Beginning Balance, Shares at Dec. 31, 2022		49,217	910
Issuance of common stock under stock plans	23,979	$ 1		23,978
Issuance of common stock under stock plans, Shares		635
Restricted stock units taxes paid in cash	(4,102)			(4,102)
Restricted stock units taxes paid in cash, Shares		(11)
Stock-based compensation	223,087			223,087
Other comprehensive income (loss), net of tax	4,505				4,505
Net Income (Loss)	(148,523)					(148,523)
Ending Balance, Amount at Jun. 30, 2023	1,093,624	$ 50		1,890,409	(8,385)	(788,450)
Ending Balance, Shares at Jun. 30, 2023		49,841	910
Beginning Balance, Amount at Dec. 31, 2022	994,678	$ 49		1,647,446	(12,890)	(639,927)
Beginning Balance, Shares at Dec. 31, 2022		49,217	910
Net Income (Loss)	(152,100)
Ending Balance, Amount at Sep. 30, 2023	1,199,384	$ 50		2,000,739	(9,378)	(792,027)
Ending Balance, Shares at Sep. 30, 2023		50,114	910
Beginning Balance, Amount at Jun. 30, 2023	1,093,624	$ 50		1,890,409	(8,385)	(788,450)
Beginning Balance, Shares at Jun. 30, 2023		49,841	910
Issuance of common stock under stock plans	1,316			1,316
Issuance of common stock under stock plans, Shares		280
Restricted stock units taxes paid in cash	(3,468)			(3,468)
Restricted stock units taxes paid in cash, Shares		(7)
Stock-based compensation	112,482			112,482
Other comprehensive income (loss), net of tax	(993)				(993)
Net Income (Loss)	(3,577)					(3,577)
Ending Balance, Amount at Sep. 30, 2023	1,199,384	$ 50		2,000,739	(9,378)	(792,027)
Ending Balance, Shares at Sep. 30, 2023		50,114	910
Beginning Balance, Amount at Dec. 31, 2023	1,334,348	$ 50		2,136,908	1,827	(804,437)
Beginning Balance, Shares at Dec. 31, 2023		50,448	910
Issuance of common stock under stock plans	44,588	$ 1		44,587
Issuance of common stock under stock plans, Shares		716	(5)
Restricted stock units taxes paid in cash	(13,491)			(13,491)
Restricted stock units taxes paid in cash, Shares		(22)
Stock-based compensation	250,604			250,604
Other comprehensive income (loss), net of tax	(6,649)				(6,649)
Net Income (Loss)	(8,501)					(8,501)
Ending Balance, Amount at Jun. 30, 2024	1,600,899	$ 51		2,418,608	(4,822)	(812,938)
Ending Balance, Shares at Jun. 30, 2024		51,142	905
Beginning Balance, Amount at Dec. 31, 2023	1,334,348	$ 50		2,136,908	1,827	(804,437)
Beginning Balance, Shares at Dec. 31, 2023		50,448	910
Net Income (Loss)	(355)
Ending Balance, Amount at Sep. 30, 2024	1,751,882	$ 51		2,550,974	5,649	(804,792)
Ending Balance, Shares at Sep. 30, 2024		51,407	903
Beginning Balance, Amount at Jun. 30, 2024	1,600,899	$ 51		2,418,608	(4,822)	(812,938)
Beginning Balance, Shares at Jun. 30, 2024		51,142	905
Issuance of common stock under stock plans	1,287			1,287
Issuance of common stock under stock plans, Shares		272	(2)
Restricted stock units taxes paid in cash	(4,238)			(4,238)
Restricted stock units taxes paid in cash, Shares		(7)
Stock-based compensation	135,317			135,317
Other comprehensive income (loss), net of tax	10,471				10,471
Net Income (Loss)	8,146					8,146
Ending Balance, Amount at Sep. 30, 2024	$ 1,751,882	$ 51		$ 2,550,974	$ 5,649	$ (804,792)
Ending Balance, Shares at Sep. 30, 2024		51,407	903

Unaudited Consolidated Statem_5

Unaudited Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Operating Activities:
Net loss	$ (355)	$ (152,100)
Adjustments to reconcile net loss to net cash and cash equivalents provided by operating activities, net of acquisitions
Depreciation and amortization	68,447	53,508
Stock-based compensation	370,382	318,545
Restructuring charges		64,938
Gain on strategic investments	(18,555)
Impairment of strategic investments	4,094
(Benefit from) provision for deferred income taxes	(611)	4,943
Amortization of debt discount and issuance costs	1,501	1,477
Accretion of bond discount	(36,694)	(30,213)
Unrealized currency translation	(3,377)	(1,380)
Changes in assets and liabilities
Accounts receivable	13,861	13,178
Prepaid expenses and other assets	(8,606)	(36,023)
Deferred commission expense	(61,425)	(54,335)
Right-of-use assets	26,461	23,244
Accounts payable	1,449	(5,165)
Accrued expenses and other liabilities	39,322	34,276
Operating lease liabilities	(32,555)	(28,933)
Deferred revenue	41,119	40,699
Net cash and cash equivalents provided by operating activities	404,458	246,659
Investing Activities:
Purchases of investments	(1,486,338)	(1,137,283)
Maturities of investments	1,155,555	1,154,784
Sale of investments	1,997
Equity method investment	(3,943)	(2,250)
Purchases of property and equipment	(25,213)	(25,031)
Purchases of strategic investments	(7,623)	(9,250)
Capitalization of software development costs	(66,721)	(49,288)
Proceeds from net working capital settlement	1,933
Net cash and cash equivalents used in investing activities	(430,353)	(68,318)
Financing Activities:
Employee taxes paid related to the net share settlement of stock-based awards	(17,777)	(7,571)
Proceeds related to the issuance of common stock under stock plans	61,211	37,934
Net cash and cash equivalents provided by financing activities	43,434	30,363
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	4,534	(4,181)
Net increase in cash, cash equivalents and restricted cash	22,073	204,523
Cash, cash equivalents and restricted cash, beginning of period	392,040	334,175
Cash, cash equivalents and restricted cash, end of period	414,113	538,698
Supplemental cash flow disclosure:
Cash paid for income taxes	11,037	11,465
Cash paid for interest	861	861
Right-of-use assets obtained in exchange for operating lease liabilities	503	4,668
Right-of-use asset reductions related to operating lease terminations		(1,210)
Non-cash investing and financing activities:
Capital expenditures incurred but not yet paid	$ 793	7,257
Asset retirement obligations		$ (201)

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ 8,146	$ (3,577)	$ (8,501)	$ (148,523)	$ (355)	$ (152,100)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 30, 2024 shares
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	The following table describes contracts, instructions or written plans for the sale or purchase of our securities adopted by our directors and certain officers in the three months ended September 30, 2024, each of which is intended to satisfy the affirmative defense conditions of Exchange Act Rule 10b5-1(c), referred to as Rule 10b5-1 trading plans. Name Action Taken Nature of Trading Arrangement Duration of Trading Arrangement Aggregate Number of Securities Dharmesh Shah ( Co-Founder and Chief Technology Officer ) Adoption ( August 16, 2024 ) Trading plan intended to satisfy the affirmative defense conditions of Exchange Act Rule 10b5-1(c) 224 days 75,000 shares
Dharmesh Shah [Member]
Trading Arrangements, by Individual
Name	Dharmesh Shah
Title	Co-Founder and Chief Technology Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	August 16, 2024
Arrangement Duration	224 days
Aggregate Available	75,000

Organization and Operations

Organization and Operations	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
Organization and Operations	1. Organization and Operations HubSpot, Inc. (the “Company”) provides a customer platform that helps businesses connect and grow better. The Company delivers seamless connection for customer-facing teams with a unified platform that includes three layers: AI-powered engagement hubs, a Smart customer relationship management product (“CRM”), and a connected ecosystem supporting the customer platform with a marketplace of integrations, templates, and expert partners, a community network, and an academy of educational content. The engagement hubs include Marketing Hub, Sales Hub, Service Hub, Operations Hub, Content Hub and Commerce Hub, as well as other tools and integrations that enable companies to attract, engage, and delight customers throughout the 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, 2023, 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, 2024. 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, 2024. Other than the addition of the accounting policy related to derivatives as described in Note 6, 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 Recent accounting standards not included below are not expected to have a material impact on our consolidated financial position and results of operations. In November 2023, the Financial Accounting Standards Board ("FASB") issued guidance enhancing the disclosures of reportable segment information, primarily about significant segment expenses. The new standard will be effective for the Company for the annual periods beginning January 1, 2024, and for interim periods beginning January 1, 2025, with early adoption permitted. Upon adoption, the guidance should be applied retrospectively to all prior periods presented in the financial statements. The adoption of this standard only impacts disclosures and is not expected to have a material impact on the Company's consolidated financial statements. In December 2023, the FASB issued guidance enhancing income tax disclosure requirements by requiring specified categories and greater disaggregation within the rate reconciliation table, disclosure of income taxes paid by jurisdiction, and providing clarification on uncertain tax positions and related financial statement impacts. The new standard will be effective for the Company on January 1, 2025, with early adoption permitted. The adoption of this standard only impacts disclosures and is not expected to have a material impact on the Company's consolidated financial statements. In November 2024, the FASB issued guidance that requires the disclosure about specific types of expenses included in the expense captions presented on the face of the income statement. The new standard will be effective for the Company for the annual periods beginning January 1, 2027, and for interim periods beginning January 1, 2028, with early adoption permitted. The Company is currently evaluating the impact of adoption of the standard on its consolidated financial statements. Revision of Previously Issued Financial Statements During the financial close process for the first quarter of 2024, the Company identified an error related to the calculation of contractual credits in one of its third-party vendor agreements which impacted the Company's previously issued financial statements beginning with the quarter ended December 31, 2021. The error impacted subsequent annual and quarterly reporting periods through December 31, 2023. The Company assessed the materiality of the error, in consideration of both quantitative and qualitative factors, and concluded that it is not material to any previously presented interim or annual financial statements. The Company revised its financial statements for the periods impacted. In connection with the revisions, the Company also corrected a previously identified immaterial error related to the recording of certain deferred tax balances. Changes to the interim consolidated statements of operations for the three and nine months ended September 30, 2023, as a result of the error, were as follows (in thousands, except per share data): Consolidated Statements of Operations and Comprehensive Loss For the Three Months Ended September 30, 2023 As Previously Reported Adjustments As Revised (in thousands) Cost of revenues - Subscription $ 73,781 $ ( 1,886 ) $ 71,895 Total cost of revenues 87,526 ( 1,886 ) 85,640 Gross profit 470,031 1,886 471,917 Loss from operations ( 20,442 ) 1,886 ( 18,556 ) Loss before income tax expense ( 6,875 ) 1,886 ( 4,989 ) Net loss ( 5,463 ) 1,886 ( 3,577 ) Comprehensive loss ( 6,456 ) 1,886 ( 4,570 ) Net loss per common share, basic and diluted $ ( 0.11 ) $ 0.04 $ ( 0.07 ) For the Nine Months Ended September 30, 2023 As Previously Reported Adjustments As Revised (in thousands) Cost of revenues - Subscription $ 215,944 $ ( 5,933 ) $ 210,011 Total cost of revenues 256,854 ( 5,933 ) 250,921 Gross profit 1,331,461 5,933 1,337,394 Loss from operations ( 183,708 ) 5,933 ( 177,775 ) Loss before income tax expense ( 148,458 ) 5,933 ( 142,525 ) Income tax expense ( 14,233 ) 4,658 ( 9,575 ) Net loss ( 162,691 ) 10,591 ( 152,100 ) Comprehensive loss ( 159,179 ) 10,591 ( 148,588 ) Net loss per common share, basic and diluted $ ( 3.27 ) $ 0.22 $ ( 3.06 )

Revenues

Revenues	9 Months Ended
	Sep. 30, 2024
Revenue from Contract with Customer [Abstract]
Revenues	2. Revenues Disaggregation of Revenue The Company provides disaggregation of revenue based on geographic region (Note 14) and based on the subscription versus professional services and other classification on the consolidated statements of operations as it believes these best depict how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors. Deferred Revenue and Deferred Commission Expense Amounts that have been invoiced are recorded in accounts receivable and deferred revenue or revenue, depending on whether the revenue recognition criteria have been met. Deferred revenue represents amounts billed for which revenue has not yet been recognized. Deferred revenue that will be recognized during the succeeding 12-month period is recorded as current deferred revenue, and the remaining portion is recorded as long-term deferred revenue. Deferred revenue during the nine months ended September 30, 2024 increased by $ 45.8 million resulting from $ 715.5 million of additional invoicing and was offset by revenue recognized of $ 669.7 million during the same period. $ 397.8 million of revenue was recognized during the three months ended September 30, 2024 that was included in deferred revenue at the beginning of the period. $ 626.9 million of revenue was recognized during the nine months ended September 30, 2024 that was included in deferred revenue at the beginning of the period. As of September 30, 2024, approximately $ 939.7 million of revenue is expected to be recognized from remaining performance obligations for contracts with original performance obligations that exceed one year . The Company expects to recognize revenue on approximately 90 % of these remaining performance obligations over the next 24 months , with the balance recognized thereafter. Additional contract liabilities of $ 6.4 million and $ 4.5 million were included in accrued expenses and other current liabilities on the consolidated balance sheet as of September 30, 2024 and December 31, 2023. The incremental direct costs of obtaining a contract, which primarily consist of sales and Solutions 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 Solutions 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 September 30, 2024 increased by $ 26.5 million as a result of deferring incremental costs of obtaining a contract of $ 57.7 million and was offset by amortization of $ 31.2 million during the same period. Deferred commission expense during the nine months ended September 30, 2024 increased by $ 63.2 million as a result of deferring incremental costs of obtaining a contract of $ 159.4 million and was offset by amortization of $ 96.2 million during the same period.

Net income (Loss) per Share

Net income (Loss) per Share	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Net income (Loss) per Share	3. Net income (Loss) per Share Basic net income (loss) per share is computed by dividing net income (loss) by the weighted average number of common shares outstanding for the period. Diluted net income (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”), and the Conversion Option of the 2025 Notes (the “Conversion Options”) (Note 9) are considered to be potential common stock equivalents. A reconciliation of the denominator used in the calculation of basic and diluted net income (loss) per share is as follows: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Net income (loss) $ 8,146 $ ( 3,577 ) $ ( 355 ) $ ( 152,100 ) Weighted-average common shares outstanding — basic 51,354 50,051 51,017 49,719 Dilutive effect of share equivalents resulting from 424 — — — Weighted-average common shares, outstanding — diluted 51,778 50,051 51,017 49,719 Net income (loss) per share, basic $ 0.16 $ ( 0.07 ) $ ( 0.01 ) $ ( 3.06 ) Net income (loss) per share, diluted $ 0.16 $ ( 0.07 ) $ ( 0.01 ) $ ( 3.06 ) 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. Since the Company incurred net losses for the nine months ended September 30, 2024 and the three and nine months ended September 30, 2023, 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 Conversion Options were excluded in the calculation of diluted net loss per share as the effect would be anti-dilutive for these periods. The following table contains all potentially dilutive common stock equivalents. As of September 30, 2024 2023 (in thousands) Options to purchase common shares 339 485 RSUs 1,677 2,020 Conversion Option of the 2025 Notes 1,625 1,625 PSUs 29 — ESPP — —

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	4. Fair Value of Financial Instruments The Company measures certain financial assets at fair value. Fair value is determined based upon the exit price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants, as determined by either the principal market or the most advantageous market. Inputs used in the valuation techniques to derive fair values are classified based on a three-level hierarchy, as follows: • Level 1 — Quoted prices in active markets for identical assets or liabilities. • Level 2 — Observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which all significant inputs are observable or can be derived principally from or corroborated by observable market data for substantially the full term of the assets or liabilities. • Level 3 — Unobservable inputs to the valuation methodology that are significant to the measurement of fair value of assets or liabilities. The following table details the fair value measurements within the fair value hierarchy of the Company’s financial assets and liabilities at September 30, 2024 and December 31, 2023: September 30, 2024 Level 1 Level 2 Level 3 Total (in thousands) Cash equivalents and investments: Money market funds $ 15,211 $ — $ — $ 15,211 Commercial paper — 12,008 — 12,008 Corporate bonds — 275,485 — 275,485 U.S. Government agency securities — 119,140 — 119,140 U.S. Treasury securities — 1,288,410 — 1,288,410 Strategic investments — — 12,703 12,703 Restricted cash: Money market funds — 4,053 — 4,053 Total assets $ 15,211 $ 1,699,096 $ 12,703 $ 1,727,010 Accrued expenses and other current liabilities: Foreign currency derivative liabilities $ — $ 766 $ — $ 766 Total liabilities $ — $ 766 $ — $ 766 December 31, 2023 Level 1 Level 2 Level 3 Total (in thousands) Cash equivalents and investments: Money market funds $ 20,003 $ — $ — $ 20,003 Commercial paper — 13,504 — 13,504 Corporate bonds — 237,406 — 237,406 U.S. Government agency securities — 122,758 — 122,758 U.S. Treasury securities — 960,763 — 960,763 Strategic investments — — 13,159 13,159 Restricted cash: Money market funds — 4,053 — 4,053 Total $ 20,003 $ 1,338,484 $ 13,159 $ 1,371,646 The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. The fair value of the Company’s investments in certain money market funds is their face value and such instruments are classified as Level 1 and are included in cash and cash equivalents on the consolidated balance sheets. At September 30, 2024 and December 31, 2023, 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. Certain non-marketable investments measured at fair value on a non-recurring basis are classified as Level 3 as their fair value measurements may include a combination of observable and unobservable inputs. Foreign currency derivative assets and liabilities are classified as Level 2 and are valued using observable inputs, such as quotations on forward and spot rates for currencies, interest rates and credit derivative market rates. As of September 30, 2024, the fair value of the 2025 Notes was $ 864.2 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 that consist of non-controlling equity investments without readily determinable fair values in privately held companies for which the Company does not have the ability to exercise significant influence are measured under the measurement alternative method. 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 $ 63.7 million of strategic investments without readily determinable fair values at September 30, 2024 and $ 41.1 million of strategic investments without readily determinable fair values at December 31, 2023. These investments are included in other assets on the consolidated balance sheets. In the nine months ended September 30, 2024 , the Company adjusted the fair value of its strategic investments and recognized a gain of $ 18.6 million and also recorded an impairment of the carrying value of its strategic investments of $ 4.1 million, resulting in a net gain of $ 14.5 million, which is reported in the consolidated statements of operations as other income. There were no adjustments to the carrying value of the strategic investments resulting from impairments or observable price changes in the three and nine months ended September 30, 2023. The following tables summarize the composition of our short- and long-term investments at September 30, 2024 and December 31, 2023. September 30, 2024 Amortized Unrealized Unrealized Aggregate (in thousands) Commercial paper $ 10,516 $ — $ — $ 10,516 Corporate bonds 274,178 1,386 ( 79 ) 275,485 U.S. Government agency securities 118,597 586 ( 43 ) 119,140 U.S. Treasury securities 1,287,149 1,293 ( 32 ) 1,288,410 Total $ 1,690,440 $ 3,265 $ ( 154 ) $ 1,693,551 December 31, 2023 Amortized Unrealized Unrealized Aggregate (in thousands) Commercial paper $ 11,513 $ — $ — $ 11,513 Corporate bonds 237,662 422 ( 678 ) 237,406 U.S. Government agency securities 122,414 520 ( 176 ) 122,758 U.S. Treasury securities 953,457 1,087 ( 273 ) 954,271 Total $ 1,325,046 $ 2,029 $ ( 1,127 ) $ 1,325,948 For all of our securities for which the amortized cost basis was greater than the fair value at September 30, 2024, 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. The Company further assesses whether the decline in fair value below amortized cost is due to credit or non-credit related factors by considering the extent to which fair value is less than amortized cost, credit ratings, the financial health of the industry and sector of the issuer, the overall risk profile of the securities, overall macroeconomic conditions, and more. As of September 30, 2024, no allowance for credit losses in investments was recorded. Contractual Maturities The contractual maturities of short-term and long-term investments held at September 30, 2024 and December 31, 2023 are as follows: September 30, 2024 December 31, 2023 Amortized Aggregate Amortized Aggregate (in thousands) (in thousands) Due within one year $ 1,526,159 $ 1,527,928 $ 1,000,447 $ 1,000,245 Due after 1 year through 2 years 164,281 165,623 324,599 325,703 Total $ 1,690,440 $ 1,693,551 $ 1,325,046 $ 1,325,948

Restricted Cash

Restricted Cash	9 Months Ended
	Sep. 30, 2024
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 nine months ended September 30, 2024 and 2023. September 30, 2024 September 30, 2023 December 31, 2023 (in thousands) Cash and cash equivalents $ 410,060 $ 535,545 $ 387,987 Restricted cash, included other assets 4,053 3,153 4,053 Total cash, cash equivalents, and restricted cash $ 414,113 $ 538,698 $ 392,040

Derivatives

Derivatives	9 Months Ended
	Sep. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivaties	6. Derivatives Cash flow hedges The Company enters into foreign currency forward contracts to reduce the risk of variability in future cash flow due to foreign currency exchange rate fluctuation from certain forecasted revenue transactions billed in currencies other than the U.S. Dollar. These transactions are designated as cash flow hedges. The foreign currency forward contracts have maturities 12 months or less. Hedge effectiveness is assessed at inception and at each reporting period utilizing statistical regression analysis. The derivatives are subject to master netting arrangements and are disclosed on a gross basis on the consolidated balance sheets. Unrealized foreign exchange gains or losses related to those designated cash flow hedge contracts are recorded in accumulated other comprehensive income ("AOCI") and are reclassified into revenues in the same periods when the hedged transactions are recognized in earnings. Cash flows from the settlement of these forward contracts are classified as operating activities on the consolidated statements of cash flows. As of September 30, 2024 , the Company had designated cash flow hedge forward contracts with notional amounts equivalent to $ 28.1 million. The following summarizes the fair value of derivative financial instruments as of September 30, 2024 and December 31, 2023: As of September 30, 2024 As of December 31, 2023 (in thousands) Accrued expenses and other current liabilities Cash flow hedges $ 766 $ — Total $ 766 $ — The following table presents the activity of foreign currency forward contracts designated as hedging instruments and the impact of these derivatives on AOCI: Nine Months Ended September 30, 2024 2023 (in thousands) Beginning balance at January 1, 2024 $ — $ — Net losses recognized in other comprehensive income, net of tax 1,245 — Net losses reclassified from AOCI to earnings ( 310 ) — Ending balance at September 30, 2024 $ 935 $ — The effect of hedges on the consolidated statements of operations was as follows: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 (in thousands) Losses reclassified from AOCI related to cash flow hedges Revenue $ ( 254 ) $ — $ ( 310 ) $ — As of September 30, 2024 , the Company estimates the net amount of unrealized gain (losses) before tax on the foreign currency contracts expected to be reclassified into revenue over the next 12 months is approximately $ 0.3 million.

Property and Equipment, Net

Property and Equipment, Net	9 Months Ended
	Sep. 30, 2024
Property, Plant and Equipment [Abstract]
Property and Equipment, Net	7. Property and Equipment Property and equipment consists of the following: September 30, 2024 December 31, 2023 (in thousands) Computer equipment and purchased software $ 17,080 $ 16,395 Employee related computer equipment 60,064 50,018 Furniture and fixtures 21,062 20,666 Leasehold improvements 113,709 112,714 Internal-use software 66,357 48,894 Construction in progress 160 — Total property and equipment 278,432 248,687 Less: accumulated depreciation ( 167,482 ) ( 145,356 ) Property and equipment, net $ 110,950 $ 103,331 Depreciation and amortization expense on property and equipment was $ 7.8 million for the three months ended September 30, 2024, $ 21.9 million for the nine months ended September 30, 2024, $ 7.7 million for the three months ended September 30, 2023, and $ 21.8 million for the nine months ended September 30, 2023 .

Capitalized Software Developmen

Capitalized Software Development Costs	9 Months Ended
	Sep. 30, 2024
Research and Development [Abstract]
Capitalized Software Development Costs	8. Capitalized Software Development Costs Capitalized software development costs, exclusive of those recorded within property and equipment, consisted of the following: September 30, 2024 December 31, 2023 (in thousands) Gross capitalized software development costs $ 344,049 $ 257,052 Accumulated amortization ( 199,220 ) ( 150,823 ) Capitalized software development costs, net $ 144,829 $ 106,229 These capitalized software development costs are associated with software developed for the Company's customer platform. 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 $ 21.0 million for the three months ended September 30, 2024, $ 54.8 million for the nine months ended September 30, 2024, $ 12.6 million for the three months ended September 30, 2023, and $ 33.1 million for the nine months ended September 30, 2023 .

Convertible Senior Notes

Convertible Senior Notes	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
Convertible Senior Notes	9. Convertible Senior Notes 2025 Convertible Senior Notes and Capped Call Options In June 2020, the Company issued $ 400 million aggregate principal amount of 0.375 % convertible senior notes due June 1, 2025 (the “2025 Notes”) in a private offering and an additional $ 60 million aggregate principal amount of the 2025 Notes pursuant to the exercise in full of the over-allotment options of the initial purchasers. 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 2025 Notes are classified as short-term debt and the Company expects to settle the principal amount of the 2025 Notes in cash. Because the last reported sale price of the Company’s common stock for at least 20 trading days during the period of 30 consecutive trading days ending on the last trading day of the calendar quarter ended September 30, 2024 was equal to or greater than 130 % of the applicable conversion price on each applicable trading day, the 2025 Notes are convertible at the option of the holders thereof during the calendar quarter ending December 31, 2024. As of November 1, 2024, 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 September 30, 2024 As of December 31, 2023 (in thousands) Principal $ 459,049 $ 459,076 Unamortized issuance costs ( 1,375 ) ( 2,870 ) Net carrying amount $ 457,674 $ 456,206 Interest expense related to the 2025 Notes is as follows: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 (in thousands) Contractual interest expense $ 430 $ 431 $ 1,291 $ 1,291 Amortization of issuance costs 499 497 1,501 1,477 Total interest expense $ 929 $ 928 $ 2,792 $ 2,768 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 the Capped Call Options are not accounted for as separate derivative financial instruments.

Leases

Leases	9 Months Ended
	Sep. 30, 2024
Leases [Abstract]
Leases	11. Leases The Company leases office facilities under non-cancelable operating leases that expire at various dates through February 2035. During the nine months ended September 30, 2024 , the Company modified various leases of office spaces globally. The Company recorded a reduction in right-of-use assets of $ 6.9 million and an increase in lease liabilities of $ 0.9 million for these leases during the period upon the lease modification. Operating lease expense and cash payments related to operating lease liabilities for the three and nine months ended September 30, 2024 and 2023 are as follows: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 (in thousands) (in thousands) Operating lease expense $ 9,838 $ 10,230 $ 29,577 $ 33,139 Cash payments $ 12,577 $ 14,701 $ 42,002 $ 45,827 The Company subleases some of its unused spaces to third parties. Operating sublease income generated under all operating lease agreements for the three and nine months ended September 30, 2024 and 2023 are as follows: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 (in thousands) (in thousands) Operating sublease income $ 1,404 $ 1,953 $ 5,330 $ 5,995

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2024
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 $ 80.4 million. Included in the table below is an operating lease commitment for a lease that has not yet commenced of approximately $ 5.7 million. Future minimum payments under all operating lease agreements as of September 30, 2024 are as follows: (in thousands) Remainder of 2024 $ 14,316 2025 57,458 2026 54,136 2027 48,981 2028 36,220 Thereafter 164,571 Total $ 375,682 The Company has entered into certain non-cancelable vendor commitments, which require the future purchase of goods or services. Future minimum payments under all non-cancelable vendor commitments as of September 30, 2024 are as follows: (in thousands) Remainder of 2024 $ 42,120 2025 236,930 2026 236,800 2027 187,846 2028 184 Thereafter — Total $ 703,880 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 Income (Loss)	9 Months Ended
	Sep. 30, 2024
Equity [Abstract]
Changes in Accumulated Other Comprehensive Income (Loss)	12. Changes in Accumulated Other Comprehensive Income (Loss) The following table summarizes the changes in accumulated other comprehensive income (loss), which is reported as a component of stockholders’ equity, for the nine months ended September 30, 2024 and 2023. Cumulative Translation Adjustment Unrealized Unrealized Total (in thousands) Beginning balance at January 1, 2024 $ 950 $ 877 $ — $ 1,827 Other comprehensive income (loss) before reclassifications 2,548 2,209 ( 1,245 ) 3,512 Amounts reclassified from accumulated other comprehensive income, net of tax — — 310 310 Ending balance at September 30, 2024 $ 3,498 $ 3,086 $ ( 935 ) $ 5,649 Cumulative Translation Adjustment Unrealized Total (in thousands) Beginning balance at January 1, 2023 $ ( 3,070 ) $ ( 9,820 ) $ ( 12,890 ) Other comprehensive income (loss) before reclassifications ( 1,805 ) 5,317 3,512 Amounts reclassified from accumulated other comprehensive income, net of tax — — — Ending balance at September 30, 2023 $ ( 4,875 ) $ ( 4,503 ) $ ( 9,378 )

Stock-Based Compensation Expens

Stock-Based Compensation Expense	9 Months Ended
	Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation Expense	13. Stock-Based Compensation Expense The following two tables show stock-based compensation expense by award type and where the stock-based compensation expense is recorded in the Company’s consolidated statements of operations: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 (in thousands) (in thousands) Options $ 1,917 $ 2,958 $ 6,309 $ 8,798 RSUs 117,895 96,638 334,637 287,575 PSUs 6,356 3,866 17,524 9,882 Employee stock purchase plan 4,098 4,044 11,912 12,290 Total stock-based compensation expense $ 130,266 $ 107,506 $ 370,382 $ 318,545 Effect of stock-based compensation expense on income by line item: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 (in thousands) (in thousands) Cost of revenue, subscription $ 6,408 $ 3,157 $ 16,811 $ 9,110 Cost of revenue, professional services and other 1,113 1,201 3,328 3,748 Research and development 62,595 49,460 177,914 146,845 Sales and marketing 36,218 34,439 107,543 103,233 General and administrative 23,932 19,249 64,786 55,609 Total stock-based compensation expense $ 130,266 $ 107,506 $ 370,382 $ 318,545 Capitalized software development costs excluded from stock-based compensation expense were $ 10.7 million for the three months ended September 30, 2024, $ 29.7 million for the nine months ended September 30, 2024, $ 6.9 million for the three months ended September 30, 2023, and $ 21.0 million for the nine months ended September 30, 2023. Also excluded from stock-based compensation expense in the nine months ended September 30, 2023 was $ 1.0 million incurred in connection with the Restructuring Plan. See Note 15 for more details.

Segment Information and Geograp

Segment Information and Geographic Data	9 Months Ended
	Sep. 30, 2024
Segment Reporting [Abstract]
Segment Information and Geographic Data	14. 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 September 30, Nine Months Ended September 30, 2024 2023 2024 2023 (in thousands) (in thousands) Americas $ 404,347 $ 337,113 $ 1,165,218 $ 966,762 Europe 210,893 174,428 603,689 488,009 Asia Pacific 54,481 46,016 155,458 133,544 Total $ 669,721 $ 557,557 $ 1,924,365 $ 1,588,315 Percentage of revenues generated outside of the Americas 40 % 40 % 39 % 39 % Revenue derived from customers outside the United States (international) was approximately 47 % of total revenue in the three and nine months ended September 30, 2024 and 2023. Total long-lived assets by geographical region: As of September 30, 2024 As of December 31, 2023 (in thousands) Americas $ 227,600 $ 235,141 Europe 104,054 112,176 Asia Pacific 5,218 7,085 Total long-lived assets $ 336,872 $ 354,402 Percentage of long-lived assets held outside of the Americas 32 % 34 %

Restructuring Plan

Restructuring Plan	9 Months Ended
	Sep. 30, 2024
Restructuring and Related Activities [Abstract]
Restructuring Plan	15. Restructuring Plan On January 25, 2023, the Company's board of directors authorized a restructuring plan (the “Restructuring Plan”) that was designed to reduce operating costs and enable investment in key opportunities for long-term growth while driving continued profitability. The Restructuring Plan included a reduction of the Company’s workforce by approximately 7 % and a global lease consolidation to create higher density across our workspaces. The Company incurred restructuring charges of $ 1.0 million in the three months ended September 30, 2024 and $ 2.8 million in the nine months ended September 30, 2024 consisting of variable facilities related costs on unused space. During the nine months ended September 30, 2023, the Company terminated and abandoned various leases of office spaces globally. The Company recorded a reduction in right-of-use assets of $ 44.6 million and an increase in lease liabilities of $ 6.3 million for these leases during the period upon the lease terminations or abandonments. In the three months ended September 30, 2023, the Company incurred $ 0.8 million of restructuring charges in connection with these leases. In the nine months ended September 30, 2023, the Company incurred $ 93.3 million of restructuring charges, composed of $ 66.4 million related to facilities and $ 26.9 million for severance, employee related benefits, and other costs, including $ 1.0 million of stock-based compensation expense. The charges are recorded to the restructuring line item within the consolidated statements of operations. Future variable facilities related costs for vacated properties will continue to be recorded to restructuring charges. As of September 30, 2024 , the Company did no t have any remaining liabilities accrued related to the Restructuring Plan.

Subsequent Event

Subsequent Event	9 Months Ended
	Sep. 30, 2024
Subsequent Events [Abstract]
Subsequent Event	16. Subsequent Event On October 30, 2024 , the Company acquired all outstanding shares of Cacheflow Inc. (“Cacheflow”), a B2B subscription billing management and configure, price, quote (“CPQ”) solution, for cash consideration of approximately $ 65.0 million, subject to customary post-closing adjustments and conditions. The acquisition will expand its commerce capabilities for subscription billing and quote-to-cash automation to help customers close deals faster. Due to the limited amount of time since the date of acquisition, the Company is in the process of finalizing the accounting for this transaction and expects to complete the preliminary purchase price allocation in the fourth quarter of 2024. This acquisition is expected to have an insignificant impact on the Company’s 2024 revenue.

Organization and Operations (Po

Organization and Operations (Policies)	9 Months Ended
	Sep. 30, 2024
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 November 2023, the Financial Accounting Standards Board ("FASB") issued guidance enhancing the disclosures of reportable segment information, primarily about significant segment expenses. The new standard will be effective for the Company for the annual periods beginning January 1, 2024, and for interim periods beginning January 1, 2025, with early adoption permitted. Upon adoption, the guidance should be applied retrospectively to all prior periods presented in the financial statements. The adoption of this standard only impacts disclosures and is not expected to have a material impact on the Company's consolidated financial statements. In December 2023, the FASB issued guidance enhancing income tax disclosure requirements by requiring specified categories and greater disaggregation within the rate reconciliation table, disclosure of income taxes paid by jurisdiction, and providing clarification on uncertain tax positions and related financial statement impacts. The new standard will be effective for the Company on January 1, 2025, with early adoption permitted. The adoption of this standard only impacts disclosures and is not expected to have a material impact on the Company's consolidated financial statements. In November 2024, the FASB issued guidance that requires the disclosure about specific types of expenses included in the expense captions presented on the face of the income statement. The new standard will be effective for the Company for the annual periods beginning January 1, 2027, and for interim periods beginning January 1, 2028, with early adoption permitted. The Company is currently evaluating the impact of adoption of the standard on its consolidated financial statements. Revision of Previously Issued Financial Statements During the financial close process for the first quarter of 2024, the Company identified an error related to the calculation of contractual credits in one of its third-party vendor agreements which impacted the Company's previously issued financial statements beginning with the quarter ended December 31, 2021. The error impacted subsequent annual and quarterly reporting periods through December 31, 2023. The Company assessed the materiality of the error, in consideration of both quantitative and qualitative factors, and concluded that it is not material to any previously presented interim or annual financial statements. The Company revised its financial statements for the periods impacted. In connection with the revisions, the Company also corrected a previously identified immaterial error related to the recording of certain deferred tax balances. Changes to the interim consolidated statements of operations for the three and nine months ended September 30, 2023, as a result of the error, were as follows (in thousands, except per share data): Consolidated Statements of Operations and Comprehensive Loss For the Three Months Ended September 30, 2023 As Previously Reported Adjustments As Revised (in thousands) Cost of revenues - Subscription $ 73,781 $ ( 1,886 ) $ 71,895 Total cost of revenues 87,526 ( 1,886 ) 85,640 Gross profit 470,031 1,886 471,917 Loss from operations ( 20,442 ) 1,886 ( 18,556 ) Loss before income tax expense ( 6,875 ) 1,886 ( 4,989 ) Net loss ( 5,463 ) 1,886 ( 3,577 ) Comprehensive loss ( 6,456 ) 1,886 ( 4,570 ) Net loss per common share, basic and diluted $ ( 0.11 ) $ 0.04 $ ( 0.07 ) For the Nine Months Ended September 30, 2023 As Previously Reported Adjustments As Revised (in thousands) Cost of revenues - Subscription $ 215,944 $ ( 5,933 ) $ 210,011 Total cost of revenues 256,854 ( 5,933 ) 250,921 Gross profit 1,331,461 5,933 1,337,394 Loss from operations ( 183,708 ) 5,933 ( 177,775 ) Loss before income tax expense ( 148,458 ) 5,933 ( 142,525 ) Income tax expense ( 14,233 ) 4,658 ( 9,575 ) Net loss ( 162,691 ) 10,591 ( 152,100 ) Comprehensive loss ( 159,179 ) 10,591 ( 148,588 ) Net loss per common share, basic and diluted $ ( 3.27 ) $ 0.22 $ ( 3.06 )
Revenues	Disaggregation of Revenue The Company provides disaggregation of revenue based on geographic region (Note 14) and based on the subscription versus professional services and other classification on the consolidated statements of operations as it believes these best depict how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors. Deferred Revenue and Deferred Commission Expense Amounts that have been invoiced are recorded in accounts receivable and deferred revenue or revenue, depending on whether the revenue recognition criteria have been met. Deferred revenue represents amounts billed for which revenue has not yet been recognized. Deferred revenue that will be recognized during the succeeding 12-month period is recorded as current deferred revenue, and the remaining portion is recorded as long-term deferred revenue. Deferred revenue during the nine months ended September 30, 2024 increased by $ 45.8 million resulting from $ 715.5 million of additional invoicing and was offset by revenue recognized of $ 669.7 million during the same period. $ 397.8 million of revenue was recognized during the three months ended September 30, 2024 that was included in deferred revenue at the beginning of the period. $ 626.9 million of revenue was recognized during the nine months ended September 30, 2024 that was included in deferred revenue at the beginning of the period. As of September 30, 2024, approximately $ 939.7 million of revenue is expected to be recognized from remaining performance obligations for contracts with original performance obligations that exceed one year . The Company expects to recognize revenue on approximately 90 % of these remaining performance obligations over the next 24 months , with the balance recognized thereafter. Additional contract liabilities of $ 6.4 million and $ 4.5 million were included in accrued expenses and other current liabilities on the consolidated balance sheet as of September 30, 2024 and December 31, 2023. The incremental direct costs of obtaining a contract, which primarily consist of sales and Solutions 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 Solutions 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 September 30, 2024 increased by $ 26.5 million as a result of deferring incremental costs of obtaining a contract of $ 57.7 million and was offset by amortization of $ 31.2 million during the same period. Deferred commission expense during the nine months ended September 30, 2024 increased by $ 63.2 million as a result of deferring incremental costs of obtaining a contract of $ 159.4 million and was offset by amortization of $ 96.2 million during the same period.

Organization and Operations (Ta

Organization and Operations (Tables)	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
Summary Of Interim Consolidated Statements Of Operations	Changes to the interim consolidated statements of operations for the three and nine months ended September 30, 2023, as a result of the error, were as follows (in thousands, except per share data): Consolidated Statements of Operations and Comprehensive Loss For the Three Months Ended September 30, 2023 As Previously Reported Adjustments As Revised (in thousands) Cost of revenues - Subscription $ 73,781 $ ( 1,886 ) $ 71,895 Total cost of revenues 87,526 ( 1,886 ) 85,640 Gross profit 470,031 1,886 471,917 Loss from operations ( 20,442 ) 1,886 ( 18,556 ) Loss before income tax expense ( 6,875 ) 1,886 ( 4,989 ) Net loss ( 5,463 ) 1,886 ( 3,577 ) Comprehensive loss ( 6,456 ) 1,886 ( 4,570 ) Net loss per common share, basic and diluted $ ( 0.11 ) $ 0.04 $ ( 0.07 ) For the Nine Months Ended September 30, 2023 As Previously Reported Adjustments As Revised (in thousands) Cost of revenues - Subscription $ 215,944 $ ( 5,933 ) $ 210,011 Total cost of revenues 256,854 ( 5,933 ) 250,921 Gross profit 1,331,461 5,933 1,337,394 Loss from operations ( 183,708 ) 5,933 ( 177,775 ) Loss before income tax expense ( 148,458 ) 5,933 ( 142,525 ) Income tax expense ( 14,233 ) 4,658 ( 9,575 ) Net loss ( 162,691 ) 10,591 ( 152,100 ) Comprehensive loss ( 159,179 ) 10,591 ( 148,588 ) Net loss per common share, basic and diluted $ ( 3.27 ) $ 0.22 $ ( 3.06 )

Net Income (Loss) per Share (Ta

Net Income (Loss) per Share (Tables)	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Summary of Reconciliation of Denominator Used in Calculation of Basic and Diluted Net income (Loss) Per Share	A reconciliation of the denominator used in the calculation of basic and diluted net income (loss) per share is as follows: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Net income (loss) $ 8,146 $ ( 3,577 ) $ ( 355 ) $ ( 152,100 ) Weighted-average common shares outstanding — basic 51,354 50,051 51,017 49,719 Dilutive effect of share equivalents resulting from 424 — — — Weighted-average common shares, outstanding — diluted 51,778 50,051 51,017 49,719 Net income (loss) per share, basic $ 0.16 $ ( 0.07 ) $ ( 0.01 ) $ ( 3.06 ) Net income (loss) per share, diluted $ 0.16 $ ( 0.07 ) $ ( 0.01 ) $ ( 3.06 )
Schedule of Potentially Dilutive Common Stock Equivalents	The following table contains all potentially dilutive common stock equivalents. As of September 30, 2024 2023 (in thousands) Options to purchase common shares 339 485 RSUs 1,677 2,020 Conversion Option of the 2025 Notes 1,625 1,625 PSUs 29 — ESPP — —

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Schedule of Fair Value Measurements of Financial Assets and Liabilities	The following table details the fair value measurements within the fair value hierarchy of the Company’s financial assets and liabilities at September 30, 2024 and December 31, 2023: September 30, 2024 Level 1 Level 2 Level 3 Total (in thousands) Cash equivalents and investments: Money market funds $ 15,211 $ — $ — $ 15,211 Commercial paper — 12,008 — 12,008 Corporate bonds — 275,485 — 275,485 U.S. Government agency securities — 119,140 — 119,140 U.S. Treasury securities — 1,288,410 — 1,288,410 Strategic investments — — 12,703 12,703 Restricted cash: Money market funds — 4,053 — 4,053 Total assets $ 15,211 $ 1,699,096 $ 12,703 $ 1,727,010 Accrued expenses and other current liabilities: Foreign currency derivative liabilities $ — $ 766 $ — $ 766 Total liabilities $ — $ 766 $ — $ 766 December 31, 2023 Level 1 Level 2 Level 3 Total (in thousands) Cash equivalents and investments: Money market funds $ 20,003 $ — $ — $ 20,003 Commercial paper — 13,504 — 13,504 Corporate bonds — 237,406 — 237,406 U.S. Government agency securities — 122,758 — 122,758 U.S. Treasury securities — 960,763 — 960,763 Strategic investments — — 13,159 13,159 Restricted cash: Money market funds — 4,053 — 4,053 Total $ 20,003 $ 1,338,484 $ 13,159 $ 1,371,646
Summary of Composition of Short and Long Term Investments	The following tables summarize the composition of our short- and long-term investments at September 30, 2024 and December 31, 2023. September 30, 2024 Amortized Unrealized Unrealized Aggregate (in thousands) Commercial paper $ 10,516 $ — $ — $ 10,516 Corporate bonds 274,178 1,386 ( 79 ) 275,485 U.S. Government agency securities 118,597 586 ( 43 ) 119,140 U.S. Treasury securities 1,287,149 1,293 ( 32 ) 1,288,410 Total $ 1,690,440 $ 3,265 $ ( 154 ) $ 1,693,551 December 31, 2023 Amortized Unrealized Unrealized Aggregate (in thousands) Commercial paper $ 11,513 $ — $ — $ 11,513 Corporate bonds 237,662 422 ( 678 ) 237,406 U.S. Government agency securities 122,414 520 ( 176 ) 122,758 U.S. Treasury securities 953,457 1,087 ( 273 ) 954,271 Total $ 1,325,046 $ 2,029 $ ( 1,127 ) $ 1,325,948
Summary of Contractual Maturities of Short and Long Term Investments	The contractual maturities of short-term and long-term investments held at September 30, 2024 and December 31, 2023 are as follows: September 30, 2024 December 31, 2023 Amortized Aggregate Amortized Aggregate (in thousands) (in thousands) Due within one year $ 1,526,159 $ 1,527,928 $ 1,000,447 $ 1,000,245 Due after 1 year through 2 years 164,281 165,623 324,599 325,703 Total $ 1,690,440 $ 1,693,551 $ 1,325,046 $ 1,325,948

Restricted cash (Tables)

Restricted cash (Tables)	9 Months Ended
	Sep. 30, 2024
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 nine months ended September 30, 2024 and 2023. September 30, 2024 September 30, 2023 December 31, 2023 (in thousands) Cash and cash equivalents $ 410,060 $ 535,545 $ 387,987 Restricted cash, included other assets 4,053 3,153 4,053 Total cash, cash equivalents, and restricted cash $ 414,113 $ 538,698 $ 392,040

Derivatives (Tables)

Derivatives (Tables)	9 Months Ended
	Sep. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Summary of the Fair Value of Derivative Financial Instruments	The following summarizes the fair value of derivative financial instruments as of September 30, 2024 and December 31, 2023: As of September 30, 2024 As of December 31, 2023 (in thousands) Accrued expenses and other current liabilities Cash flow hedges $ 766 $ — Total $ 766 $ —
Schedule of Derivatives and the Impact on AOCI	The following table presents the activity of foreign currency forward contracts designated as hedging instruments and the impact of these derivatives on AOCI: Nine Months Ended September 30, 2024 2023 (in thousands) Beginning balance at January 1, 2024 $ — $ — Net losses recognized in other comprehensive income, net of tax 1,245 — Net losses reclassified from AOCI to earnings ( 310 ) — Ending balance at September 30, 2024 $ 935 $ —
Schedule of Effect of Hedges on Consolidated Statements of Operations	The effect of hedges on the consolidated statements of operations was as follows: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 (in thousands) Losses reclassified from AOCI related to cash flow hedges Revenue $ ( 254 ) $ — $ ( 310 ) $ —

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	9 Months Ended
	Sep. 30, 2024
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment, Net	Property and equipment consists of the following: September 30, 2024 December 31, 2023 (in thousands) Computer equipment and purchased software $ 17,080 $ 16,395 Employee related computer equipment 60,064 50,018 Furniture and fixtures 21,062 20,666 Leasehold improvements 113,709 112,714 Internal-use software 66,357 48,894 Construction in progress 160 — Total property and equipment 278,432 248,687 Less: accumulated depreciation ( 167,482 ) ( 145,356 ) Property and equipment, net $ 110,950 $ 103,331

Capitalized Software Developm_2

Capitalized Software Development Costs (Tables)	9 Months Ended
	Sep. 30, 2024
Research and Development [Abstract]
Summary of Capitalized Software Development Costs, Exclusive of those Recorded within Property and Equipment	Capitalized software development costs, exclusive of those recorded within property and equipment, consisted of the following: September 30, 2024 December 31, 2023 (in thousands) Gross capitalized software development costs $ 344,049 $ 257,052 Accumulated amortization ( 199,220 ) ( 150,823 ) Capitalized software development costs, net $ 144,829 $ 106,229

Convertible Senior Notes (Table

Convertible Senior Notes (Tables)	9 Months Ended
	Sep. 30, 2024
0.375%Convertible Senior Notes Due 2025 as Liability Component [Member]
Debt Instrument [Line Items]
Schedule of Net Carrying Amount of Notes	The net carrying amount of the liability component of the 2025 Notes is as follows: As of September 30, 2024 As of December 31, 2023 (in thousands) Principal $ 459,049 $ 459,076 Unamortized issuance costs ( 1,375 ) ( 2,870 ) Net carrying amount $ 457,674 $ 456,206
0.375% Convertible Senior Notes Due 2025 [Member]
Debt Instrument [Line Items]
Schedule of Interest Expense	Interest expense related to the 2025 Notes is as follows: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 (in thousands) Contractual interest expense $ 430 $ 431 $ 1,291 $ 1,291 Amortization of issuance costs 499 497 1,501 1,477 Total interest expense $ 929 $ 928 $ 2,792 $ 2,768

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2024
Leases [Abstract]
Schedule of Lease Expense and Cash Payments related to Operating Lease Liabilities	Operating lease expense and cash payments related to operating lease liabilities for the three and nine months ended September 30, 2024 and 2023 are as follows: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 (in thousands) (in thousands) Operating lease expense $ 9,838 $ 10,230 $ 29,577 $ 33,139 Cash payments $ 12,577 $ 14,701 $ 42,002 $ 45,827
Schedule of Operating Sublease Income Generated under Operating Lease Agreements	The Company subleases some of its unused spaces to third parties. Operating sublease income generated under all operating lease agreements for the three and nine months ended September 30, 2024 and 2023 are as follows: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 (in thousands) (in thousands) Operating sublease income $ 1,404 $ 1,953 $ 5,330 $ 5,995

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Schedule of Future Minimum Payments	Future minimum payments under all operating lease agreements as of September 30, 2024 are as follows: (in thousands) Remainder of 2024 $ 14,316 2025 57,458 2026 54,136 2027 48,981 2028 36,220 Thereafter 164,571 Total $ 375,682
Schedule of Future Minimum Payments Under Non-Cancelable Arrangements	Future minimum payments under all non-cancelable vendor commitments as of September 30, 2024 are as follows: (in thousands) Remainder of 2024 $ 42,120 2025 236,930 2026 236,800 2027 187,846 2028 184 Thereafter — Total $ 703,880

Changes in Accumulated Other _2

Changes in Accumulated Other Comprehensive Income (Loss) (Tables)	9 Months Ended
	Sep. 30, 2024
Equity [Abstract]
Changes in Accumulated Other Comprehensive Income (Loss)	The following table summarizes the changes in accumulated other comprehensive income (loss), which is reported as a component of stockholders’ equity, for the nine months ended September 30, 2024 and 2023. Cumulative Translation Adjustment Unrealized Unrealized Total (in thousands) Beginning balance at January 1, 2024 $ 950 $ 877 $ — $ 1,827 Other comprehensive income (loss) before reclassifications 2,548 2,209 ( 1,245 ) 3,512 Amounts reclassified from accumulated other comprehensive income, net of tax — — 310 310 Ending balance at September 30, 2024 $ 3,498 $ 3,086 $ ( 935 ) $ 5,649 Cumulative Translation Adjustment Unrealized Total (in thousands) Beginning balance at January 1, 2023 $ ( 3,070 ) $ ( 9,820 ) $ ( 12,890 ) Other comprehensive income (loss) before reclassifications ( 1,805 ) 5,317 3,512 Amounts reclassified from accumulated other comprehensive income, net of tax — — — Ending balance at September 30, 2023 $ ( 4,875 ) $ ( 4,503 ) $ ( 9,378 )

Stock-Based Compensation Expe_2

Stock-Based Compensation Expense (Tables)	9 Months Ended
	Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Stock-Based Compensation Expense by Award Type	The following two tables show stock-based compensation expense by award type and where the stock-based compensation expense is recorded in the Company’s consolidated statements of operations: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 (in thousands) (in thousands) Options $ 1,917 $ 2,958 $ 6,309 $ 8,798 RSUs 117,895 96,638 334,637 287,575 PSUs 6,356 3,866 17,524 9,882 Employee stock purchase plan 4,098 4,044 11,912 12,290 Total stock-based compensation expense $ 130,266 $ 107,506 $ 370,382 $ 318,545
Effect of Stock-Based Compensation on Income by Line Item	Effect of stock-based compensation expense on income by line item: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 (in thousands) (in thousands) Cost of revenue, subscription $ 6,408 $ 3,157 $ 16,811 $ 9,110 Cost of revenue, professional services and other 1,113 1,201 3,328 3,748 Research and development 62,595 49,460 177,914 146,845 Sales and marketing 36,218 34,439 107,543 103,233 General and administrative 23,932 19,249 64,786 55,609 Total stock-based compensation expense $ 130,266 $ 107,506 $ 370,382 $ 318,545

Segment Information and Geogr_2

Segment Information and Geographic Data (Tables)	9 Months Ended
	Sep. 30, 2024
Segment Reporting [Abstract]
Revenues by Geographical Region	Revenues by geographical region: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 (in thousands) (in thousands) Americas $ 404,347 $ 337,113 $ 1,165,218 $ 966,762 Europe 210,893 174,428 603,689 488,009 Asia Pacific 54,481 46,016 155,458 133,544 Total $ 669,721 $ 557,557 $ 1,924,365 $ 1,588,315 Percentage of revenues generated outside of the Americas 40 % 40 % 39 % 39 %
Long Lived Assets by Geographical Region	Total long-lived assets by geographical region: As of September 30, 2024 As of December 31, 2023 (in thousands) Americas $ 227,600 $ 235,141 Europe 104,054 112,176 Asia Pacific 5,218 7,085 Total long-lived assets $ 336,872 $ 354,402 Percentage of long-lived assets held outside of the Americas 32 % 34 %

Organization and Operations - S

Organization and Operations - Summary Of Interim Consolidated Statements Of Operations (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total cost of revenues	$ 99,324	$ 85,640			$ 289,928	$ 250,921
Gross Profit	570,397	471,917			1,634,437	1,337,394
Loss from operations	(9,631)	(18,556)			(56,801)	(177,775)
Loss before income tax expense	10,648	(4,989)			15,685	(142,525)
Income tax expense	(2,502)	1,412			(16,040)	(9,575)
Net loss	8,146	(3,577)	$ (8,501)	$ (148,523)	(355)	(152,100)
Comprehensive loss	$ 18,617	$ (4,570)			$ 3,467	$ (148,588)
Net loss per common share, basic	$ 0.16	$ (0.07)			$ (0.01)	$ (3.06)
Net loss per common share, diluted	$ 0.16	$ (0.07)			$ (0.01)	$ (3.06)
Subscription [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total cost of revenues	$ 85,066	$ 71,895			$ 247,408	$ 210,011
As Previously Reported [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total cost of revenues		87,526				256,854
Gross Profit		470,031				1,331,461
Loss from operations		(20,442)				(183,708)
Loss before income tax expense		(6,875)				(148,458)
Income tax expense						(14,233)
Net loss		(5,463)				(162,691)
Comprehensive loss		$ (6,456)				$ (159,179)
Net loss per common share, basic		$ (0.11)				$ (3.27)
Net loss per common share, diluted		$ (0.11)				$ (3.27)
As Previously Reported [Member] | Subscription [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total cost of revenues		$ 73,781				$ 215,944
Adjustments [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total cost of revenues		(1,886)				(5,933)
Gross Profit		1,886				5,933
Loss from operations		1,886				5,933
Loss before income tax expense		1,886				5,933
Income tax expense						4,658
Net loss		1,886				10,591
Comprehensive loss		$ 1,886				$ 10,591
Net loss per common share, basic		$ 0.04				$ 0.22
Net loss per common share, diluted		$ 0.04				$ 0.22
Adjustments [Member] | Subscription [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total cost of revenues		$ (1,886)				$ (5,933)

Revenues - Additional Informati

Revenues - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Disaggregation of Revenue [Line Items]
Additions in deferred revenue			$ 45,800
Additional Invoicing			715,500
Total revenues	$ 669,721	$ 557,557	1,924,365	$ 1,588,315
Deferred revenue, revenue recognized	397,800		626,900
Revenue remaining performance obligation, contracts exceeds one year	939,700		$ 939,700
Revenue remaining performance obligation contract period			1 year
Revenue remaining performance obligation percentage recognized			90%
Short-term deferred revenue	719,595		$ 719,595		$ 672,150
Increase (decrease) in deferred commission expense	26,500		63,200
Incremental costs of deferred sales commission expense	57,700		159,400
Amortization of deferred commission expense	31,200		$ 96,200
Minimum [Member]
Disaggregation of Revenue [Line Items]
Amortization period of deferred commissions			2 years
Maximum [Member]
Disaggregation of Revenue [Line Items]
Amortization period of deferred commissions			4 years
Accrued Expenses and Other Current Liabilities [Member]
Disaggregation of Revenue [Line Items]
Short-term deferred revenue	$ 6,400		$ 6,400		$ 4,500

Revenues - Additional Informa_2

Revenues - Additional Information1 (Detail)	Sep. 30, 2024
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2024-07-01
Disaggregation of Revenue [Line Items]
Revenue remaining performance obligations recognition period	24 months

Net Income (Loss) per Share - S

Net Income (Loss) per Share - Summary of Reconciliation of Denominator Used in Calculation of Basic and Diluted Net Income (Loss) Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Earnings Per Share [Abstract]
Net Income (Loss)	$ 8,146	$ (3,577)	$ (8,501)	$ (148,523)	$ (355)	$ (152,100)
Weighted-average common shares outstanding - basic	51,354	50,051			51,017	49,719
Dilutive effect of share equivalents resulting from stock options, RSUs, ESPP, PSUs, and the Conversion Options	424
Weighted-average common shares, outstanding — diluted	51,778	50,051			51,017	49,719
Net income (loss) per share, basic	$ 0.16	$ (0.07)			$ (0.01)	$ (3.06)
Net income (loss) per share, diluted	$ 0.16	$ (0.07)			$ (0.01)	$ (3.06)

Net Income (Loss) per Share -_2

Net Income (Loss) per Share - Schedule of Potentially Dilutive Common Stock Equivalents (Detail) - shares shares in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
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	1,625
Employee Stock Option
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	339	485
RSUs [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	1,677	2,020
PSUs [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	29

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Schedule of Fair Value of Financial Assets and Liabilities (Detail) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of cash and cash equivalents	$ 15,211	$ 20,003
Investment, Type [Extensible Enumeration]	Money Market Funds [Member]	Money Market Funds [Member]
Fair value of short and long term investments	$ 1,693,551	$ 1,325,948
Fair value of restricted cash	4,053	4,053
Fair value of financial assets	1,727,010	1,371,646
Fair value of financial liabilities	766
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	$ 15,211	$ 20,003
Investment, Type [Extensible Enumeration]	Money Market Funds [Member]	Money Market Funds [Member]
Fair value of financial assets	$ 15,211	$ 20,003
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment, Type [Extensible Enumeration]	Money Market Funds [Member]	Money Market Funds [Member]
Fair value of restricted cash	$ 4,053	$ 4,053
Fair value of financial assets	1,699,096	1,338,484
Fair value of financial liabilities	766
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of short and long term investments	12,703	13,159
Commercial Paper [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of short and long term investments	12,008	13,504
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	12,008	13,504
Corporate Bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of short and long term investments	275,485	237,406
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	275,485	237,406
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	119,140	122,758
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	119,140	122,758
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	1,288,410	960,763
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	1,288,410	960,763
Strategic Investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of short and long term investments	12,703	13,159
Strategic Investments [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of short and long term investments	12,703	$ 13,159
Foreign Currency Derivative Liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of accrued expenses and other current liabilities	766
Foreign Currency Derivative Liabilities [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of accrued expenses and other current liabilities	$ 766

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Additional Information (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Other assets	$ 112,045	$ 75,247
Debt securities, available-for-sale, realized gain	18,600
Debt securities, available-for-sale, realized gain, net	14,500
Strategic Investments [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Other assets	63,700	$ 41,100
Impairment charges	4,100
2025 Notes [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Fair value of notes	$ 864,200,000

Fair Value of Financial Instr_5

Fair Value of Financial Instruments - Summary of Composition of Short and Long Term Investments (Detail) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 1,690,440	$ 1,325,046
Unrealized Gains	3,265	2,029
Unrealized Losses	(154)	(1,127)
Aggregate Fair Value	1,693,551	1,325,948
Commercial Paper [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	10,516	11,513
Aggregate Fair Value	10,516	11,513
Corporate Bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	274,178	237,662
Unrealized Gains	1,386	422
Unrealized Losses	(79)	(678)
Aggregate Fair Value	275,485	237,406
U.S. Government Agency Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	118,597	122,414
Unrealized Gains	586	520
Unrealized Losses	(43)	(176)
Aggregate Fair Value	119,140	122,758
US Treasury Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	1,287,149	953,457
Unrealized Gains	1,293	1,087
Unrealized Losses	(32)	(273)
Aggregate Fair Value	$ 1,288,410	$ 954,271

Fair Value of Financial Instr_6

Fair Value of Financial Instruments - Summary of Contractual Maturities of Short and Long Term Investments (Detail) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Amortized Cost Basis, Due within one year	$ 1,526,159	$ 1,000,447
Amortized Cost Basis, Due after 1 year through 2 years	164,281	324,599
Amortized Cost	1,690,440	1,325,046
Aggregate Fair Value, Due within one year	1,527,928	1,000,245
Aggregate Fair Value, Due after 1 year through 2 years	165,623	325,703
Aggregate Fair Value, Total	$ 1,693,551	$ 1,325,948

Equity Method Investment - Addi

Equity Method Investment - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Schedule Of Equity Method Investments [Line Items]
Net Income (Loss)	$ 8,146	$ (3,577)	$ (8,501)	$ (148,523)	$ (355)	$ (152,100)

Restricted Cash - Summary of Re

Restricted Cash - Summary of Reconciliation of Cash, Cash Equivalents and Restricted Cash (Detail) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023
Cash and Cash Equivalents [Abstract]
Cash and cash equivalents	$ 410,060	$ 387,987	$ 535,545
Restricted cash, included in other assets	$ 4,053	$ 4,053	$ 3,153
Restricted Cash, Asset, Statement of Financial Position [Extensible List]	Other assets	Other assets	Other assets
Total cash, cash equivalents, and restricted cash	$ 414,113	$ 392,040	$ 538,698

Derivatives - Additional Inform

Derivatives - Additional Information (Details) $ in Millions	Sep. 30, 2024 USD ($)
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized gain (losses) before tax on foreign currency contracts expected to be reclassified into revenue over next 12 months	$ 0.3
Cash Flow Hedges [Member] | Forward Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Notional equivalent amount	$ 28.1

Derivatives - Summary of the Fa

Derivatives - Summary of the Fair Value of Derivative Financial Instruments (Details) $ in Thousands	Sep. 30, 2024 USD ($)
Derivative Instruments, Gain (Loss) [Line Items]
Accrued expenses and other current liabilities	$ 766
Cash Flow Hedges [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Accrued expenses and other current liabilities	$ 766

Derivatives - Schedule of Deriv

Derivatives - Schedule of Derivatives and the Impact on AOCI (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Derivative Instruments, Gain (Loss) [Line Items]
Beginning Balance, Amount	$ 1,334,348	$ 994,678
Net losses recognized in other comprehensive income, net of tax	(3,512)	(3,512)
Net losses reclassified from AOCI to earnings	(310)
Ending Balance, Amount	1,751,882	$ 1,199,384
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member] | Designated as Hedging Instrument [Member] | Foreign Currency Forward Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Net losses recognized in other comprehensive income, net of tax	1,245
Net losses reclassified from AOCI to earnings	(310)
Ending Balance, Amount	$ 935

Derivatives - Schedule of Effec

Derivatives - Schedule of Effect of Hedges on Consolidated Statements of Operations (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Revenue	$ (254)	$ (310)

Property and Equipment, Net - S

Property and Equipment, Net - Schedule of Property and Equipment, Net (Detail) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 278,432	$ 248,687
Less accumulated depreciation	(167,482)	(145,356)
Property and equipment, net	110,950	103,331
Computer Equipment and Purchased Software [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	17,080	16,395
Employee Related Computer Equipment [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	60,064	50,018
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	21,062	20,666
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	113,709	112,714
Internal Use Software [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	66,357	$ 48,894
Construction in Progress [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 160

Property and Equipment, Net - A

Property and Equipment, Net - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Property, Plant and Equipment [Abstract]
Depreciation and amortization	$ 7.8	$ 7.7	$ 21.9	$ 21.8

Capitalized Software Developm_3

Capitalized Software Development Costs - Summary of Capitalized Software Development Costs, Exclusive of those Recorded within Property and Equipment (Detail) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Capitalized Computer Software, Net [Abstract]
Gross capitalized software development costs	$ 344,049	$ 257,052
Accumulated amortization	(199,220)	(150,823)
Capitalized software development costs, net	$ 144,829	$ 106,229

Capitalized Software Developm_4

Capitalized Software Development Costs - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Capitalized Computer Software, Net [Abstract]
Amortization of software development costs, exclusive of costs recorded within property and equipment	$ 21	$ 12.6	$ 54.8	$ 33.1

Convertible Senior Notes - Addi

Convertible Senior Notes - Additional Information (Detail) - 0.375% Convertible Senior Notes Due 2025 [Member]	1 Months Ended	9 Months Ended
	Jun. 30, 2020 USD ($) $ / shares shares	Sep. 30, 2024 d	Nov. 01, 2024 USD ($)
Debt Instrument [Line Items]
Principal amount of long term debt			$ 0
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 2025 Notes are classified as short-term debt and 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
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
Private Offering [Member]
Debt Instrument [Line Items]
Principal amount of long term debt	$ 400,000,000
Over-Allotment Options [Member]
Debt Instrument [Line Items]
Principal amount of long term debt	$ 60,000,000
Maximum [Member]
Debt Instrument [Line Items]
Percentage of closing price to trigger debt conversion		130%
Maximum [Member] | Capped Call Options [Member]
Debt Instrument [Line Items]
Common stock shares covered under capped call transactions | shares	1,600,000

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	Sep. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Principal	$ 459,049	$ 459,076
Unamortized issuance costs	(1,375)	(2,870)
Net carrying amount	$ 457,674	$ 456,206

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		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Debt Instrument [Line Items]
Contractual interest expense	$ 430	$ 431	$ 1,291	$ 1,291
Amortization of issuance costs	499	497	1,501	1,477
Total interest expense	$ 929	$ 928	$ 2,792	$ 2,768

Leases - Additional Information

Leases - Additional Information (Details) $ in Millions	9 Months Ended
	Sep. 30, 2024 USD ($)
Leases [Abstract]
Reduction in right-of use assets	$ 6.9
Increase in operating lease liabilities	$ 0.9

Leases - Schedule of Operating

Leases - Schedule of Operating Lease Expense and Cash Payments related to Operating Lease Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Leases [Abstract]
Operating lease expense	$ 9,838	$ 10,230	$ 29,577	$ 33,139
Cash payments	$ 12,577	$ 14,701	$ 42,002	$ 45,827

Leases - Schedule of Operatin_2

Leases - Schedule of Operating Sublease Income Generated under Operating Lease Agreements (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Leases [Abstract]
Operating sublease income	$ 1,404	$ 1,953	$ 5,330	$ 5,995

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) $ in Millions	9 Months Ended
	Sep. 30, 2024 USD ($)
Commitments and Contingencies [Line Items]
Increase in future lease commitments	$ 80.4
Lessee operating lease commitments not yet commenced	$ 5.7

Commitments and Contingencies_2

Commitments and Contingencies - Schedule of Future Minimum Payments (Detail) $ in Thousands	Sep. 30, 2024 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Operating, Remainder of 2024	$ 14,316
Operating, 2025	57,458
Operating, 2026	54,136
Operating, 2027	48,981
Operating, 2028	36,220
Operating, Thereafter	164,571
Total	$ 375,682

Commitments and Contingencies_3

Commitments and Contingencies - Schedule of Future Minimum Payments Under Non-Cancelable Arrangements (Details) - Vendor Commitments [Member] $ in Thousands	Sep. 30, 2024 USD ($)
Long-Term Purchase Commitment [Line Items]
Remainder of 2024	$ 42,120
Non-cancelable arrangements, 2025	236,930
Non-cancelable arrangements, 2026	236,800
Non-cancelable arrangements, 2027	187,846
Non-cancelable arrangements, 2028	184
Purchase Obligation, Total	$ 703,880

Business Acquisition - Addition

Business Acquisition - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Business Acquisition [Line Items]
Income tax benefit	$ 2,502	$ (1,412)	$ 16,040	$ 9,575

Business Acquisition - Summary

Business Acquisition - Summary of Fair Value of Assets Acquired and Liabilities Assumed (Detail) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Business Acquisition [Line Items]
Goodwill	$ 174,158	$ 173,761

Changes in Stockholders' Equity

Changes in Stockholders' Equity - Summary of Changes in Stockholders' Equity (Detail) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Class Of Stock [Line Items]
Beginning Balance, Amount	$ 1,600,899	$ 1,093,624	$ 1,334,348	$ 994,678	$ 1,334,348	$ 994,678
Issuance of common stock under stock plans	1,287	1,316	44,588	23,979
Stock-based compensation	135,317	112,482	250,604	223,087
Net Income (Loss)	8,146	(3,577)	(8,501)	(148,523)	(355)	(152,100)
Ending Balance, Amount	1,751,882	1,199,384	1,600,899	1,093,624	1,751,882	1,199,384
Common Stock [Member]
Class Of Stock [Line Items]
Beginning Balance, Amount	$ 51	$ 50	$ 50	$ 49	$ 50	$ 49
Beginning Balance, Shares	51,142	49,841	50,448	49,217	50,448	49,217
Issuance of common stock under stock plans			$ 1	$ 1
Issuance of common stock under stock plans, Shares	272	280	716	635
Ending Balance, Amount	$ 51	$ 50	$ 51	$ 50	$ 51	$ 50
Ending Balance, Shares	51,407	50,114	51,142	49,841	51,407	50,114
Additional Paid-In Capital [Member]
Class Of Stock [Line Items]
Beginning Balance, Amount	$ 2,418,608	$ 1,890,409	$ 2,136,908	$ 1,647,446	$ 2,136,908	$ 1,647,446
Issuance of common stock under stock plans	1,287	1,316	44,587	23,978
Stock-based compensation	135,317	112,482	250,604	223,087
Ending Balance, Amount	2,550,974	2,000,739	2,418,608	1,890,409	2,550,974	2,000,739
Accumulated Other Comprehensive Income (Loss) [Member]
Class Of Stock [Line Items]
Beginning Balance, Amount	(4,822)	(8,385)	1,827	(12,890)	1,827	(12,890)
Ending Balance, Amount	5,649	(9,378)	(4,822)	(8,385)	5,649	(9,378)
Accumulated Deficit [Member]
Class Of Stock [Line Items]
Beginning Balance, Amount	(812,938)	(788,450)	(804,437)	(639,927)	(804,437)	(639,927)
Net Income (Loss)	8,146	(3,577)	(8,501)	(148,523)
Ending Balance, Amount	$ (804,792)	$ (792,027)	$ (812,938)	$ (788,450)	$ (804,792)	$ (792,027)

Changes in Accumulated Other _3

Changes in Accumulated Other Comprehensive Income (Loss) - Changes in Accumulated Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance, Amount	$ 1,334,348	$ 994,678
Other comprehensive income (loss) before reclassifications	3,512	3,512
Amounts reclassified from accumulated other comprehensive income, net of tax	310
Ending Balance, Amount	1,751,882	1,199,384
Cumulative Translation Adjustment [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance, Amount	950	(3,070)
Other comprehensive income (loss) before reclassifications	2,548	(1,805)
Ending Balance, Amount	3,498	(4,875)
Unrealized Gain (Loss) on Investments [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance, Amount	877	(9,820)
Other comprehensive income (loss) before reclassifications	2,209	5,317
Ending Balance, Amount	3,086	(4,503)
Unrealized Gain (Loss) on Derivate Instruments [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Other comprehensive income (loss) before reclassifications	(1,245)
Amounts reclassified from accumulated other comprehensive income, net of tax	310
Ending Balance, Amount	(935)
Accumulated Other Comprehensive Loss [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance, Amount	1,827	(12,890)
Ending Balance, Amount	$ 5,649	$ (9,378)

Stock-Based Compensation Expe_3

Stock-Based Compensation Expense - Schedule of Stock-Based Compensation Expense by Award Type (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	$ 130,266	$ 107,506	$ 370,382	$ 318,545
Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	1,917	2,958	6,309	8,798
RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	117,895	96,638	334,637	287,575
PSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	6,356	3,866	17,524	9,882
ESPP [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	$ 4,098	$ 4,044	$ 11,912	$ 12,290

Stock-Based Compensation Expe_4

Stock-Based Compensation Expense - Effect of Stock-Based Compensation on Income by Line Item (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	$ 130,266	$ 107,506	$ 370,382	$ 318,545
Cost of Revenue, Subscription [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	6,408	3,157	16,811	9,110
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	1,113	1,201	3,328	3,748
Research and Development [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	62,595	49,460	177,914	146,845
Sales and Marketing [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	36,218	34,439	107,543	103,233
General and Administrative [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	$ 23,932	$ 19,249	$ 64,786	$ 55,609

Stock-Based Compensation Expe_5

Stock-Based Compensation Expense - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	$ 130,266	$ 107,506	$ 370,382	$ 318,545
Restructuring Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense				1,000
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	$ 10,700	$ 6,900	$ 29,700	$ 21,000

Segment Information and Geogr_3

Segment Information and Geographic Data - Additional Information (Detail) - Segment	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
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	47%	47%	47%	47%

Segment Information and Geogr_4

Segment Information and Geographic Data - Revenues by Geographical Region (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Segment Reporting Information [Line Items]
Total revenues	$ 669,721	$ 557,557	$ 1,924,365	$ 1,588,315
Americas [Member]
Segment Reporting Information [Line Items]
Total revenues	404,347	337,113	1,165,218	966,762
Europe [Member]
Segment Reporting Information [Line Items]
Total revenues	210,893	174,428	603,689	488,009
Asia Pacific [Member]
Segment Reporting Information [Line Items]
Total revenues	$ 54,481	$ 46,016	$ 155,458	$ 133,544
Revenue [Member] | Outside Of Americas [Member] | Geographic Concentration Risk [Member]
Segment Reporting Information [Line Items]
Percentage of revenues generated outside of the Americas	40%	40%	39%	39%

Segment Information and Geogr_5

Segment Information and Geographic Data - Long Lived Assets by Geographical Region (Detail) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Segment Reporting Information [Line Items]
Total long lived assets	$ 336,872	$ 354,402
Americas [Member]
Segment Reporting Information [Line Items]
Total long lived assets	227,600	235,141
Europe [Member]
Segment Reporting Information [Line Items]
Total long lived assets	104,054	112,176
Asia Pacific [Member]
Segment Reporting Information [Line Items]
Total long lived assets	$ 5,218	$ 7,085
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	32%	34%

Restructuring Plan - Additional

Restructuring Plan - Additional Information (Details) - USD ($)		3 Months Ended		9 Months Ended
	Jan. 25, 2023	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Restructuring Costs [Line Items]
Employee reduction percentage	7%
Liabilities accrued		$ 0		$ 0
Restructuring charges		$ 987,000	$ 846,000	2,847,000	$ 93,296,000
Reduction in right-of use assets				6,900,000
Increase in operating lease liabilities				$ 900,000
Severance, Employee Related Benefits And Other Costs [Member]
Restructuring Costs [Line Items]
Restructuring charges					26,900,000
Stock-Based Compensation Expense [Member]
Restructuring Costs [Line Items]
Restructuring charges					1,000,000
Facilities [Member]
Restructuring Costs [Line Items]
Restructuring charges					66,400,000
Global Office Spaces Leases [Member]
Restructuring Costs [Line Items]
Reduction in right-of use assets					44,600,000
Increase in operating lease liabilities					$ 6,300,000

Subsequent Event - Additional I

Subsequent Event - Additional Information (Details) - Subsequent Event [Member] - Cacheflow Inc. [Member] $ in Millions	Oct. 11, 2024 USD ($)
Subsequent Event [Line Items]
Business acquisition, date of agreement	Oct. 30, 2024
Cash consideration subject to customary post-closing adjustments and conditions	$ 65