HubSpot (HUBS) 10-Q 5 Aug 20 2020 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2020	Jul. 31, 2020
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Trading Symbol	HUBS
Entity Registrant Name	HubSpot, Inc.
Entity Central Index Key	0001404655
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false
Title of 12(b) Security	Common Stock, par value $0.001 per share
Security Exchange Name	NYSE
Entity File Number	001-36680
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	20-2632791
Entity Address, Address Line One	25 First Street
Entity Address, City or Town	Cambridge
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	02141
City Area Code	888
Local Phone Number	482-7768
Document Quarterly Report	true
Document Transition Report	false
Entity Common Stock, Shares Outstanding		45,564,119

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 201,086	$ 269,670
Short-term investments	934,992	691,834
Accounts receivable — net of allowance for doubtful accounts of $4,103 and $1,584 at June 30, 2020 and December 31, 2019, respectively	86,184	92,517
Deferred commission expense	36,121	32,078
Prepaid expenses and other current assets	37,936	23,625
Total current assets	1,296,319	1,109,724
Long-term investments	61,095	53,776
Property and equipment, net	89,993	83,649
Capitalized software development costs, net	21,391	16,793
Right-of-use assets	270,462	234,390
Deferred commission expense, net of current portion	20,831	19,110
Other assets	10,875	9,824
Intangible assets, net	10,075	11,752
Goodwill	29,935	30,250
Total assets	1,810,976	1,569,268
Current liabilities:
Accounts payable	10,814	12,842
Accrued compensation costs	26,513	26,318
Accrued expenses and other current liabilities	28,211	28,686
Operating lease liabilities	29,807	23,613
Deferred revenue	238,101	231,030
Total current liabilities	333,446	322,489
Operating lease liabilities, net of current portion	275,210	244,216
Deferred revenue, net of current portion	2,914	3,058
Other long-term liabilities	8,832	8,983
Convertible senior notes	467,523	340,564
Total liabilities	1,087,925	919,310
Commitments and contingencies (Note 9)
Stockholders’ equity:
Common stock	46	44
Additional paid-in capital	1,167,791	1,048,380
Accumulated other comprehensive loss	461	(336)
Accumulated deficit	(445,247)	(398,130)
Total stockholders’ equity	723,051	649,958
Total liabilities and stockholders’ equity	$ 1,810,976	$ 1,569,268

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Statement Of Financial Position [Abstract]
Accounts receivable, net of allowance for doubtful accounts	$ 4,103	$ 1,584

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Revenues:
Total revenue	$ 203,608	$ 163,255	$ 402,575	$ 315,053
Cost of revenues:
Total cost of revenues	38,777	31,142	77,061	60,720
Gross profit	164,831	132,113	325,514	254,333
Operating expenses:
Research and development	49,372	40,456	95,573	75,633
Sales and marketing	102,600	84,079	204,928	158,984
General and administrative	26,484	23,303	52,741	44,477
Total operating expenses	178,456	147,838	353,242	279,094
Loss from operations	(13,625)	(15,725)	(27,728)	(24,761)
Other expense:
Interest income	2,135	5,424	6,192	9,598
Interest expense	(16,809)	(5,673)	(22,761)	(11,186)
Other expense	(91)	(672)	(1,143)	(684)
Total other expense	(14,765)	(921)	(17,712)	(2,272)
Loss before income tax expense	(28,390)	(16,646)	(45,440)	(27,033)
Income tax expense	(1,011)	(711)	(1,677)	(1,424)
Net loss	$ (29,401)	$ (17,357)	$ (47,117)	$ (28,457)
Net loss per share, basic and diluted	$ (0.67)	$ (0.41)	$ (1.08)	$ (0.69)
Weighted average common shares used in computing basic and diluted net loss per share:	44,130	42,127	43,703	41,352
Subscription [Member]
Revenues:
Total revenue	$ 196,415	$ 155,876	$ 387,643	$ 300,102
Cost of revenues:
Total cost of revenues	30,400	23,578	60,135	44,879
Professional Services and Other [Member]
Revenues:
Total revenue	7,193	7,379	14,932	14,951
Cost of revenues:
Total cost of revenues	$ 8,377	$ 7,564	$ 16,926	$ 15,841

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Statement Of Income And Comprehensive Income [Abstract]
Net loss	$ (29,401)	$ (17,357)	$ (47,117)	$ (28,457)
Other comprehensive loss:
Foreign currency translation adjustment	1,159	254	82	(50)
Changes in unrealized gain on investments, net of income taxes of ($76) thousand for the three and six months ended June 30, 2020, and $156 thousand and $269 thousand for the three and six months ended June 30, 2019.	132	588	715	1,014
Comprehensive loss	$ (28,110)	$ (16,515)	$ (46,320)	$ (27,493)

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Loss (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Statement Of Income And Comprehensive Income [Abstract]
Changes in unrealized gain on investments, income taxes	$ (76)	$ 156	$ (76)	$ 269

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Operating Activities:
Net loss	$ (47,117)	$ (28,457)
Adjustments to reconcile net loss to net cash and cash equivalents provided by operating activities
Depreciation and amortization	17,683	14,035
Stock-based compensation	58,837	49,869
Loss on early extinguishment of 2022 Convertible Notes	10,493
Repayment of 2022 Convertible Notes attributable to the debt discount	(48,675)
Benefit for deferred income taxes	(422)	(135)
Amortization of debt discount and issuance costs	11,662	10,675
Accretion of bond discount	(3,490)	(6,821)
Unrealized currency translation	184	(18)
Changes in assets and liabilities
Accounts receivable	5,930	3,907
Prepaid expenses and other assets	(20,420)	(6,330)
Deferred commission expense	(5,837)	(5,539)
Right-of-use assets	13,398	9,262
Accounts payable	1,837	4,992
Accrued expenses and other liabilities	444	3,288
Operating lease liabilities	(12,314)	(10,162)
Deferred revenue	7,128	12,847
Net cash and cash equivalents (used in) provided by operating activities	(10,679)	51,413
Investing Activities:
Purchases of investments	(967,028)	(597,802)
Maturities of investments	710,002	342,385
Sale of investments	10,932
Purchases of property and equipment	(19,897)	(12,056)
Capitalization of software development costs	(10,163)	(5,328)
Purchases of strategic investments	(1,000)	(352)
Net cash and cash equivalents used in investing activities	(277,154)	(273,153)
Financing Activities:
Proceeds from issuance of 2025 Convertible Notes, net of issuance costs paid of $9.4 million	450,614
Proceeds from settlement of Convertible Note Hedges related to the 2022 Convertible Notes	362,492
Payments for settlement of Warrants related to the 2022 Convertible Notes	(327,543)
Repayment of 2022 Convertible Notes attributable to the principal	(234,366)
Payments for Capped Call Options related to the 2025 Convertible Notes	(50,600)
Proceeds from common stock offering, net of offering costs paid of $365		342,628
Employee taxes paid related to the net share settlement of stock-based awards	(2,200)	(2,735)
Proceeds related to the issuance of common stock under stock plans	15,208	10,738
Repayments of finance lease obligations	(28)	(205)
Net cash and cash equivalents provided by financing activities	213,577	350,426
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	(144)	(198)
Net increase in cash, cash equivalents and restricted cash	(74,400)	128,488
Cash, cash equivalents and restricted cash, beginning of period	278,515	117,114
Cash, cash equivalents and restricted cash, end of period	204,115	245,602
Supplemental cash flow disclosure:
Cash paid for interest	508	503
Cash paid for income taxes	1,646	1,843
Right-of-use assets obtained in exchange for operating lease liabilities	51,742	81,692
Non-cash investing and financing activities:
Capital expenditures incurred but not yet paid	447	1,390
Asset retirement obligations	87	$ 517
2022 Convertible Notes
Non-cash investing and financing activities:
Issuance of common stock for repayment of 2022 Convertible Notes	330,497
2025 Convertible Notes
Non-cash investing and financing activities:
2025 Convertible Notes issuance costs incurred but not paid	$ 490

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows (Parenthetical) $ in Thousands	6 Months Ended
	Jun. 30, 2020USD ($)
Statement Of Cash Flows [Abstract]
Convertible notes, issuance costs	$ 9,400
Offering costs paid	$ 365

Organization and Operations

Organization and Operations	6 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Organization and Operations	1. Organization and Operations HubSpot, Inc. (the “Company”) provides a cloud-based inbound marketing, sales and customer service platform, which is referred to in this document as the Company’s Growth Platform, that enables businesses to grow better. The Company’s Growth Platform, comprised of Marketing Hub, Sales Hub, Service Hub, Content Management System Hub, and a free customer relationship management system (“CRM”), features integrated applications and tools that enable businesses to create a cohesive and adaptable customer experience throughout the customer lifecycle. 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 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, 2020. 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 12, 2020. There have been no changes in the Company’s significant accounting policies from those that were disclosed in the Company’s Annual Report on Form 10-K that have had a material impact on our consolidated financial statements and related notes. In March 2020, the World Health Organization, or WHO, declared the outbreak of a disease caused by a novel strain of the coronavirus (COVID-19) to be a global pandemic, or pandemic. The Company has assessed the impact of the pandemic, and while the broader implications of the pandemic on the results of operations and overall financial performance remain uncertain, the Company assessed the potential impact on the June 30, 2020 financial statements and determined there were no material adjustments necessary with respect to these consolidated financial statements. Given that the economic consequences of the pandemic have been exceptionally challenging for many customers, in March 2020, the Company implemented certain changes to pricing and packaging, including reducing prices on certain products and offering certain product functionality free of charge. The Company also paid certain Solutions Partners six months of commissions in advance of them being earned. While revenue, customer retention, and earnings are relatively predictable under a subscription-based business model, the effect of the pandemic will not be fully reflected in the results of operations and overall financial performance of the Company until future periods given the current macro-economic uncertainty. In March 2020, the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act was signed into law by the United States. The CARES Act provides a substantial stimulus and assistance package intended to address the impact of the COVID-19 pandemic, including tax relief and government loans, grants and investments. In June 2020, the Jobs Support Scheme (“JSS”) was announced by the Singapore government to provide support to employers and help enterprises retain their local employees during the pandemic. The CARES Act and the JSS did not have a material impact with respect to these consolidated financial statements. Recent Accounting Pronouncements Recent accounting standards not included below are not expected to have a material impact on our consolidated financial position and results of operations. In January 2017, the Financial Accounting Standards Board (“FASB”) issued guidance simplifying the accounting for goodwill impairment by removing Step 2 of the goodwill impairment test. Under previous guidance, Step 2 of the goodwill impairment test required entities to calculate the implied fair value of goodwill in the same manner as the amount of goodwill recognized in a business combination by assigning the fair value of a reporting unit to all of the assets and liabilities of the reporting unit. The carrying value in excess of the implied fair value was recognized as goodwill impairment. Under the new guidance, goodwill impairment is recognized based on Step 1 of the current guidance, which calculates the carrying value in excess of the reporting unit’s fair value. The guidance was adopted effective January 1, 2020 and did not have a material impact on the consolidated financial statements. In June 2016, the FASB issued guidance that introduces a new methodology for accounting for credit losses on financial instruments. The guidance establishes a new forward-looking "expected loss model" that requires entities to estimate current expected credit losses on accounts receivable and financial instruments by using all practical and relevant information. The guidance was adopted effective January 1, 2020 and did not have a material impact on the consolidated financial statements. In December 2019, the FASB issued guidance simplifying the accounting for incomes taxes by removing (i) the exception to the incremental approach for intraperiod tax allocation when there is a loss from continuing operations and income or a gain from other items, (ii) the exception to recognize a deferred tax liability for equity method investments when a foreign subsidiary becomes an equity method investment, and (iii) the exception to the general methodology for calculating income taxes in an interim period when a year-to-date loss exceeds the anticipated loss for the year. The guidance also improves consistent application of and simplifies GAAP for other areas of Topic 740, Income Taxes. The guidance was adopted effective January 1, 2020, using a prospective approach and did not have a material impact on the consolidated financial statements.

Revenues

Revenues	6 Months Ended
	Jun. 30, 2020
Revenue From Contract With Customer [Abstract]
Revenues	2. Revenues Disaggregation of Revenue The Company provides disaggregation of revenue based on geographic region (Note 13) and based on the subscription versus 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 six months ended June 30, 2020 increased by $6.9 million resulting from $409.5 million of additional invoicing and was offset by revenue recognized of $402.6 2020, approximately $189.1 mill Additional contract liabilities of $1.9 million and $1.4 million were The incremental direct costs of obtaining a contract, which primarily consist of sales commissions paid for new subscription contracts, are deferred and amortized on a straight-line basis over a period of approximately one to three years. The one to three-year period has been determined by taking into consideration the type of product sold, the commitment term of the customer contract, the nature of the Company’s technology development life-cycle, and an estimated customer relationship period. Sales commissions for upgrade contracts are deferred and amortized on a straight-line basis over the remaining estimated customer relationship period of the related customer. Deferred commission expense that will be recorded as expense during the succeeding 12-month period is recorded as current deferred commission expense, and the remaining portion is recorded as long-term deferred commission expense. Deferred commission expense during the three months ended June 30, 2020 increased by $4.9 Accounts Receivable and Allowance for Doubtful Accounts Accounts receivable are carried at the original invoiced amount less an allowance for doubtful accounts based on the probability of future collection. The probability of future collection is based on specific considerations of historical loss patterns and an assessment of the continuation of such patterns based on past collection trends and known or anticipated future economic events that may impact collectability. The pandemic has added uncertainty to the collectability of certain receivables, particularly in industries hard hit by the pandemic. As a result, the Company recorded an incremental reserve associated with the pandemic during the three and six months ended June 30, 2020. The following is a roll forward of the Company’s allowance for doubtful accounts: (in thousands) Balance at December 31, 2019 $ 1,584 Provision 6,953 Write-offs, net of recoveries (4,434 ) Balance at June 30, 2020 $ 4,103

Net Loss per Share

Net Loss per Share	6 Months Ended
	Jun. 30, 2020
Earnings Per Share [Abstract]
Net Loss per Share	3. Net Loss per Share Basic net loss per share is computed by dividing net loss by the weighted average number of common shares outstanding for the period. Diluted net loss per share is computed by giving effect to all potential dilutive common stock equivalents outstanding for the period. For purposes of this calculation, options to purchase common stock, restricted stock units (“RSUs”), shares issued pursuant to the Employee Stock Purchase Plan (“ESPP”), the Warrants (defined below), the Conversion Option of the 2022 Notes, and the Conversion Option of the 2025 Notes (the “Conversion Options”) (Note 8) are considered to be potential common stock equivalents. A reconciliation of the denominator used in the calculation of basic and diluted net loss per share is as follows: Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Net loss $ (29,401 ) $ (17,357 ) $ (47,117 ) $ (28,457 ) Weighted-average common shares outstanding — basic 44,130 42,127 43,703 41,352 Dilutive effect of share equivalents resulting from stock options, RSUs, ESPP, Warrants and the Conversion Options — — — — Weighted-average common shares, outstanding — diluted 44,130 42,127 43,703 41,352 Net loss per share, basic and diluted $ (0.67 ) $ (0.41 ) $ (1.08 ) $ (0.69 ) Since the Company incurred net losses for each of the periods presented, diluted net loss per share is the same as basic net loss per share. All of the Company’s outstanding stock options, RSUs, and shares issuable under the ESPP, as well as the Warrants and Conversion Options were excluded in the calculation of diluted net loss per share as the effect would be anti-dilutive. The Company expects to settle the principal amount of the 2022 Notes and the 2025 Notes (the “Notes”) in cash, and therefore, the Company uses the treasury stock method for calculating any potential dilutive effect of the Warrants and Conversion Options on diluted net income per share, if applicable. As a result, only the amount by which the conversion cost of the Notes, if settled in shares, exceeds the aggregated principal amount of the Notes (the “Conversion Spread”) is considered in the diluted earnings per share computation. The Conversion Spread has a dilutive impact on net income per share when the average market price of the Company’s common stock for a given period of time exceeds the initial conversion price of $94.77 per share for the 2022 Notes and $282.52 for the 2025 Notes. The average stock price for the three months ended June 30, 2020 was $179.84 and for the six month period ended June 30, 2020 was $173.13. As the last reported sale price of the Company’s common stock for at least 20 trading days during the period of 30 consecutive trading days ending on the last trading day of the calendar quarter ended June 30, 2020 was equal to or greater than 130% of the conversion price of $94.77 on each applicable trading day, the 2022 Notes are convertible at the option of the holders thereof during the calendar quarter ending September 30, 2020. For disclosure purposes, the potentially dilutive effect of the Conversion Spread is calculated and included in the table below. As of June 30, 2020, the conditions allowing holders of the 2025 Notes to convert have not been met as the conversion rights can only be exercised after September 30, 2020. Also, the last reported 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 June 30, 2020 was not equal to or greater than 130% of the conversion price of $282.52 on each applicable trading day. The Warrants give the holders the option to purchase the Company’s common stock at $115.80 per share. If the market value per share of the Company’s common stock exceeds the $115.80 share price, the Warrants could have a dilutive effect. The following table contains all potentially dilutive common stock equivalents. As of June 30, 2020 2019 (in thousands) Options to purchase common shares 1,280 1,678 RSUs 1,865 1,948 Conversion Option of the 2022 Notes and Warrants 2,831 3,349 Conversion Option of the 2025 Notes — — ESPP — 2

Fair Value of Financial Instrum

Fair Value of Financial Instruments	6 Months Ended
	Jun. 30, 2020
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 June 30, 2020 and December 31, 2019: June 30, 2020 Level 1 Level 2 Level 3 Total (in thousands) Cash equivalents and investments: Money market funds $ 102,995 $ — $ — $ 102,995 Commercial paper — 22,074 — 22,074 Corporate bonds — 124,181 — 124,181 U.S. Treasury securities — 849,438 — 849,438 Certificates of deposit — 394 — 394 Restricted cash: Money market funds — 3,029 — 3,029 Total $ 102,995 $ 999,116 $ — $ 1,102,111 December 31, 2019 Level 1 Level 2 Level 3 Total (in thousands) Cash equivalents and investments: Money market funds $ 96,618 $ — $ — $ 96,618 Commercial paper — 87,185 — 87,185 Corporate bonds — 87,138 — 87,138 U.S. Treasury securities — 631,174 — 631,174 Restricted cash: Certificates of deposit — 5,816 — 5,816 Money market funds — 3,029 — 3,029 Total $ 96,618 $ 814,342 $ — $ 910,960 The Company considers all highly liquid investments purchased with a 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, and restricted cash (within prepaid expenses and other current assets and other long-term assets) on the consolidated balance sheets. At June 30, 2020 and December 31, 2019, our Level 2 securities were priced by pricing vendors. These pricing vendors utilize the most recent observable market information in pricing these securities or, if specific prices are not available for these securities, use other observable inputs like market transactions involving identical or comparable securities. As of June 30, 2020, the fair value of the 2022 Notes was $303.6 million and the fair value of the 2025 Notes was $492.1 million. The fair values were determined based on the quoted prices of the 2022 and 2025 Notes in an inactive market on the last trading day of the reporting period and have been classified as Level 2 within the fair value hierarchy. For certain other financial instruments, including accounts receivable, accounts payable, capital leases 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 and certificates of deposit related to landlord guarantees for leased facilities. These restricted cash balances have been excluded from our cash and cash equivalents balance on our consolidated balance sheets. Strategic investments consist of non-controlling equity investments in privately held companies. The Company elected the measurement alternative for these investments without readily determinable fair values and for which the Company does not have the ability to exercise significant influence. These investments are accounted for under the cost method of accounting. Under the cost method of accounting, the non-marketable equity securities are carried at cost less any impairment, plus or minus adjustments resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer, which is recorded within the statement of operations. The Company holds $5.2 million of strategic investments without readily determinable fair values at June 30, 2020 and $4.4 million of strategic investments without readily determinable fair values at December 31, 2019. These investments are included in other assets on the consolidated balance sheets. For the six months ended June 30, 2020, the Company recorded an impairment of $250 thousand. The following tables summarize the composition of our short- and long-term investments at June 30, 2020 and December 31, 2019. June 30, 2020 Amortized Cost Unrealized Gains Unrealized Losses Aggregate Fair Value (in thousands) Commercial paper $ 22,074 $ — $ — $ 22,074 Corporate bonds 123,219 986 (24 ) 124,181 U.S. Treasury securities 849,328 200 (90 ) 849,438 Certificates of deposit 394 — — 394 Total $ 995,015 $ 1,186 $ (114 ) $ 996,087 December 31, 2019 Amortized Cost Unrealized Gains Unrealized Losses Aggregate Fair Value (in thousands) Commercial paper $ 77,214 $ — $ — $ 77,214 Corporate bonds 86,900 251 (13 ) 87,138 U.S. Treasury securities 581,066 207 (15 ) 581,258 Total $ 745,180 $ 458 $ (28 ) $ 745,610 For all of our securities for which the amortized cost basis was greater than the fair value at June 30, 2020, the Company has concluded that there is no plan to sell the security nor is it more likely than not that the Company would be required to sell the security before its anticipated recovery. In making the determination as to whether the unrealized loss is other-than-temporary, the Company considered the length of time and extent the investment has been in an unrealized loss position, the financial condition and near-term prospects of the issuers, the issuers’ credit rating and the time to maturity. Contractual Maturities The contractual maturities of short-term and long-term investments held at June 30, 2020 and December 31, 2019 are as follows: June 30, 2020 December 31, 2019 Amortized Cost Basis Aggregate Fair Value Amortized Cost Basis Aggregate Fair Value (in thousands) (in thousands) Due within one year $ 934,410 $ 934,992 $ 691,556 $ 691,834 Due after 1 year through 2 years 60,605 61,095 53,624 53,776 Total $ 995,015 $ 996,087 $ 745,180 $ 745,610

Restricted cash

Restricted cash	6 Months Ended
	Jun. 30, 2020
Cash And Cash Equivalents [Abstract]
Restricted cash	5. Restricted cash The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the consolidated balance sheets that sum to the total of the same such amounts shown in the statement of cash flows for the three months ended June 30, 2020 and 2019. June 30, 2020 June 30, 2019 December 31, 2019 (in thousands) Cash and cash equivalents $ 201,086 $ 238,080 $ 269,670 Restricted cash, included in prepaid expenses and other current assets — 6,019 5,816 Restricted cash, included in other assets 3,029 1,503 3,029 Total cash, cash equivalents, and restricted cash $ 204,115 $ 245,602 $ 278,515

Property and Equipment, Net

Property and Equipment, Net	6 Months Ended
	Jun. 30, 2020
Property Plant And Equipment [Abstract]
Property and Equipment, Net	6. Property and Equipment, Net Property and equipment, net consists of the following: June 30, 2020 December 31, 2019 (in thousands) Computer equipment and purchased software $ 13,356 $ 13,028 Employee related computer equipment 18,305 13,829 Furniture and fixtures 18,519 14,319 Leasehold improvements 75,244 56,618 Equipment under finance lease 3,450 3,450 Internal-use software 10,346 7,770 Construction in progress 9,324 23,714 Total property and equipment 148,544 132,728 Less accumulated depreciation (58,551 ) (49,079 ) Property and equipment, net $ 89,993 $ 83,649 Depreciation and amortization expense on property and equipment was $4.9 million for the three months ended June 30, 2020, $9.6 million for the six months ended June 30, 2020, $3.7 million for the three months ended June 30, 2019 and $7.4 million for the six months ended June 30, 2019.

Capitalized Software Developmen

Capitalized Software Development Costs	6 Months Ended
	Jun. 30, 2020
Research And Development [Abstract]
Capitalized Software Development Costs	7. Capitalized Software Development Costs Capitalized software development costs, exclusive of those recorded within property and equipment, consisted of the following: June 30, 2020 December 31, 2019 (in thousands) Gross capitalized software development costs $ 73,253 $ 61,641 Accumulated amortization (51,862 ) (44,848 ) Capitalized software development costs, net $ 21,391 $ 16,793 These capitalized software development costs are associated with software developed for customer purchase. Capitalized software development costs recorded within property and equipment are associated with software developed for Company use. Capitalized software development costs are amortized on a straight-line basis over their estimated useful life of two years. The following table summarizes software development costs capitalized, stock-based compensation included in capitalized software development costs, and amortization of capitalized software development costs. Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 (in thousands) (in thousands) Software development costs capitalized $ 6,179 $ 2,959 $ 11,612 $ 6,237 Stock-based compensation included in capitalized software development costs $ 788 $ 607 $ 1,492 $ 1,115 Amortization of capitalized software development costs $ 3,654 $ 2,572 $ 7,129 $ 5,067

Convertible Senior Notes

Convertible Senior Notes	6 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
Convertible Senior Notes	8. Convertible Senior Notes 2025 Convertible Senior Notes and Capped Call Options In June 2020, the Company issued $400 million aggregate principal amount of 0.375% convertible senior notes due June 1, 2025 (the “2025 Notes”) in a private offering and an additional $60 million aggregate principal amount of the 2025 Notes pursuant to the exercise in full of the over-allotment options of the initial purchasers. The interest rate is fixed at 0.375% per annum and is payable semi-annually in arrears on June 1 and December 1 of each year. The total net proceeds from the debt offering, after deducting initial purchase discounts and debt issuance costs, were approximately $450.1 million. Each $1,000 of principal amount of the 2025 Notes will initially be convertible into 3.5396 shares of the Company’s common stock (the “Conversion Option of the 2025 Notes”), which is equivalent to an initial conversion price of approximately $282.52 per share, subject to adjustment upon the occurrence of certain specified events. On or after March 1, 2025 until the close of business on the second scheduled trading day immediately preceding the maturity date, holders may convert their 2025 Notes at any time. The 2025 Notes will be convertible at the option of the holders prior to the close of business on the business day immediately preceding March 1, 2025 under certain circumstances as described in the indenture governing the 2025 Notes (the “Indenture”). Upon conversion, the Company will pay or deliver, as the case may be, cash, shares of the Company’s common stock or a combination of cash and shares of the Company’s common stock, at the Company’s election. The Company expects to settle the principal amount of the 2025 Notes in cash. If the Company undergoes a fundamental change prior to the maturity date, holders of the notes may require the Company to repurchase for cash all or any portion of their notes at a repurchase price equal to 100% of the principal amount of the notes to be repurchased, plus accrued and unpaid interest to, but excluding, the fundamental change repurchase date. In addition, if specific corporate events occur prior to the applicable maturity date or if the Company delivers a notice of redemption, the Company will increase the conversion rate for a holder who elects to convert their notes in connection with such a corporate event or convert its 2025 Notes called for redemption in connection with such notice of redemption, as permitted by the Indenture. As of June 30, 2020, the conditions allowing holders of the 2025 Notes to convert have not been met. The 2025 Notes are therefore not convertible during the three or six months ended June 30, 2020. The 2025 Notes are classified as long-term debt. In accounting for the issuance of the 2025 Notes, the Company separated the 2025 Notes into liability and equity components. The carrying amount of the liability component was calculated by measuring the fair value of a similar debt instrument that does not have an associated convertible feature. The carrying amount of the equity component representing the Conversion Option was $98.7 million and was determined by deducting the fair value of the liability component from the par value of the 2025 Notes. The equity component is recorded in additional paid-in capital in the consolidated balance sheets and is not remeasured as long as it continues to meet the conditions for equity classification. The excess of the principal amount of the liability component over its carrying amount (the "Debt Discount") is amortized to interest expense at an effective interest rate of 5.71% over the contractual term of the 2025 Notes. In accounting for the debt issuance costs of $9.9 million related to the 2025 Notes, the Company allocated the total amount incurred to the liability and equity components of the 2025 Notes based on their relative values. Issuance costs attributable to the liability component were $7.8 million and will be amortized to interest expense using the effective interest method over the contractual terms of the 2025 Notes. Issuance costs attributable to the equity component were $2.1 million and are netted with the equity component of the 2025 Notes in stockholders’ equity. The difference in the book and tax allocation between the liability and equity components of the 2025 Notes resulted in a difference between the carrying amount and tax basis of the 2025 Notes. This taxable temporary difference resulted in the Company recognizing a deferred tax liability and a corresponding reduction in the Company's valuation allowance on its US deferred tax assets, resulting in no net deferred tax impact. The net carrying amount of the liability component of the 2025 Notes is as follows: As of June 30, 2020 As of December 31, 2019 (in thousands) Principal $ 460,000 $ — Unamortized debt discount (97,512 ) — Unamortized issuance costs (7,662 ) — Net carrying amount $ 354,826 $ — The net carrying amount of the equity component of the 2025 Notes is as follows: As of June 30, 2020 As of December 31, 2019 (in thousands) Debt discount for conversion option $ 98,730 $ — Issuance costs (2,120 ) — Net carrying amount $ 96,610 $ — Interest expense related to the 2025 Notes is as follows: Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 (in thousands) (in thousands) Contractual interest expense $ 125 $ — $ 125 $ — Amortization of debt discount 1,218 — 1,218 — Amortization of issuance costs 96 — 96 — Total interest expense $ 1,439 $ — $ 1,439 $ — 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 Capped Call Options settle in components commencing on April 16, 2025 and are subject to either adjustment or termination upon the occurrence of specified extraordinary events affecting the Company, including a merger event; a tender offer; and a nationalization, insolvency or delisting involving the Company. In addition, the Capped Call Options are subject to certain specified additional disruption events that may give rise to a termination of the Capped Call Options, including changes in law, insolvency filings, and hedging disruptions. Since the transaction meets certain accounting criteria, the $50.6 million paid for the Capped Call Options is recorded in stockholders’ equity as a reduction in additional paid-in capital and are not accounted for as separate derivative financial instruments. 2022 Convertible Senior Notes, Convertible Note Hedge and Warrant In May 2017, the Company issued $350 million aggregate principal amount of 0.25% convertible senior notes due June 1, 2022 (the “2022 Notes”) in a private offering and an additional $50 million aggregate principal amount of such notes pursuant to the exercise in full of the over-allotment options of the initial purchasers of the 2022 Notes. The interest rate is fixed at 0.25% per annum and is payable semi-annually in arrears on June 1 and December 1 of each year. The total net proceeds from the debt offering, after deducting initial purchase discounts and debt issuance costs, were approximately $389.2 million. Each $1,000 principal amount of the 2022 Notes are currently convertible into 10.5519 shares of the Company’s common stock (the “Conversion Option of the 2022 Notes”), which is equivalent to an initial conversion price of approximately $94.77 per share, subject to adjustment upon the occurrence of specified events. On or after February 1, 2022 until the close of business on the second scheduled trading day immediately preceding the maturity date, holders may convert their notes at any time. The 2022 Notes are convertible at the option of the holders prior to the close of business on the business day immediately preceding February 1, 2022 under certain circumstances. Upon conversion, the Company will pay or deliver, as the case may be, cash, shares of the Company’s common stock or a combination of cash and shares of the Company’s common stock, at the Company’s election. 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 June 30, 2020 was equal to or greater than 130% of the applicable conversion price on each applicable trading day, the 2022 Notes are convertible at the option of the holders thereof during the calendar quarter ending September 30, 2020. Between the end of the most recently completed fiscal quarter and July 31, 2020, the Company has received conversion notices for housand of the principal balance of the 2022 Notes, which will be settled in cash during the quarter ended September 30, 2020. In connection with the offering of the 2022 Notes, the Company entered into convertible note hedge transactions (the “Convertible Note Hedges”) with certain counterparties in which the Company has the option to purchase (subject to adjustment for certain specified events) up to approximately 4.2 million shares of the Company’s common stock at a price of approximately $94.77 per share. The Convertible Note Hedges will be settled in cash or shares, or any combination thereof, in accordance with the settlement method of the 2022 Notes in excess of the par amount, and are expected to settle concurrently with the conversion of the 2022 Notes. The total cost of the Convertible Note Hedges was $78.9 million. In addition, the Company sold warrants (the “Warrants”) to certain bank counterparties whereby the holders of the Warrants have the option to initially purchase (subject to adjustment for certain specified events) a total of approximately 4.2 million shares of the Company’s common stock at a price of $115.8 per share. The amount by which the settlement price exceeds the strike price may be settled in shares or cash at the Company’s election. The Warrants are expected to settle three business days from each trading day commencing on September 1, 2022 and ending on the 79th trading day thereafter. The Company received $58.9 million in cash proceeds, net of issuance costs of $200 thousand, from the sale of these Warrants. The purchase of the Convertible Note Hedges and the sale of Warrants is intended to effectively increase the overall conversion price from $94.77 to $115.83 per share. As these transactions meet certain accounting criteria, the net $20.0 million paid for the Convertible Note Hedges and Warrants is recorded in stockholders’ equity and are not accounted for as separate derivative financial instruments In June 2020, the Company used part of the net proceeds from the issuance of the 2025 Notes for the partial repurchase of the 2022 Notes, which consisted of a repurchase of $272.1 million aggregate principal amount of the 2022 Notes for an aggregate purchase price of approximately $283.0 in cash and approximately 1.6 million shares of its common stock at $207.17 per share. Of the $613.5 million in aggregate consideration, $248.7 million was allocated to the fair value of the debt component of the repurchase, and $364.8 million was allocated to the equity component (the associated Conversion Option of the 2022 Notes) of the repurchases, respectively, utilizing a discount rate of 4.9% to determine the fair value of the liability component. This rate was based on the Company’s estimated borrowing rate for a similar liability with the same maturity, but without the associated conversion option. To derive this effective discount rate, the Company utilized observable market rates for liabilities with similar estimated credit characteristics. As of the partial repurchase date, the carrying value of the 2022 Notes subject to the 2022 Notes partial repurchase, net of unamortized debt discount and issuance costs, was $238.2 million. The 2022 Notes partial repurchase and issuance of the 2025 Notes were deemed to have substantially different terms due to the significant difference between the value of the conversion option immediately prior to and after the exchange, and accordingly, the 2022 Notes partial repurchase was accounted for as a debt extinguishment. The 2022 Notes partial repurchase resulted in a $10.5 million loss on early extinguishment of debt, which is recorded within interest expense on the Company’s statements of operations. The loss on extinguishment was determined by comparing the consideration attributed to the fair value of the debt component with the carrying value of the debt component, which includes the proportionate amounts of unamortized debt discount and the remaining unamortized debt issuance costs. In connection with the partial repurchase of the 2022 Notes, the consideration allocated to the equity component of $364.8 million was recorded as a reduction to additional paid-in capital on the Company’s consolidated balance sheet. The Company also reversed a corresponding portion of the associated deferred tax liability and increased the Company’s valuation allowance on its US deferred tax assets, resulting in no net deferred tax impact. As of June 30, 2020, $127.8 million of principal remains outstanding on the 2022 Notes. In connection with the partial repurchase of the 2022 Notes, the Company terminated Convertible Note Hedges corresponding to approximately 2.9 million shares of the Company’s common stock in exchange for cash consideration of $362.5 million, and certain counterparties terminated Warrants corresponding to approximately 2.9 million shares of the Company’s common stock in exchange for cash consideration of $327.6 million. The net proceeds of $34.9 million received from these transactions were recorded as an increase to additional paid-in capital. As of June 30, 2020, Convertible Note Hedges giving the Company the option to purchase approximately 1.3 million shares of the Company’s common stock and Warrants giving certain counterparties the option to acquire up to 1.3 million shares of the Company’s common stock remain outstanding. The net carrying amount of the liability component of the 2022 Notes is as follows: As of June 30, 2020 As of December 31, 2019 (in thousands) Principal $ 127,841 $ 399,992 Unamortized debt discount (14,091 ) (55,299 ) Unamortized issuance costs (1,053 ) (4,129 ) Net carrying amount $ 112,697 $ 340,564 The net carrying amount of the equity component of the 2022 Notes is as follows: As of June 30, 2020 As of December 31, 2019 (in thousands) Debt discount for conversion option $ 33,880 $ 106,006 Issuance costs (912 ) (2,854 ) Net carrying amount $ 32,968 $ 103,152 Interest expense related to the 2022 Notes is as follows: Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 (in thousands) (in thousands) Contractual interest expense $ 212 $ 250 $ 462 $ 500 Amortization of debt discount 4,323 5,039 9,629 9,934 Amortization of issuance costs 323 376 719 741 Total interest expense $ 4,858 $ 5,665 $ 10,810 $ 11,175 The net equity impact, included in additional paid-in capital, of the above components of the 2022 Notes is as follows: (in thousands) Conversion Option $ (364,835 ) Issuance of common stock for repayment of 2022 Notes 330,497 Proceeds from settlement of Convertible Note Hedges 362,492 Payments for settlement of Warrants (327,543 ) $ 611

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2020
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	9. Commitments and Contingencies Contractual Obligations The Company leases its office facilities under non-cancelable operating leases that expire at various dates through May 2031. Lease expense for non-cancelable operating leases with free rental periods or scheduled rent increases is recognized on a straight-line basis over the terms of the leases. Improvement reimbursements from landlords of $18.9 million are being amortized on a straight-line basis into lease expense over the terms of the leases. Certain leases contain optional termination dates. The table below only includes payments up to the optional termination date. If the Company were to extend leases beyond the optional termination date, the future commitments would increase by approximately $83.1 million. During the three months ended June 30, 2020, the lease term began for two leases approximately 104,000 square feet of office space in Cambridge, MA and Berlin, Germany. The agreements have a 5-year renewal option and were determined to be operating leases with total estimated aggregate base rent payments, excluding the renewal options, of approximately $52.4 million. The Company recorded $44.7 million of right-of-use assets and $45.0 million of lease liabilities for these two leases during the period upon the lease commencement. The Company uses its estimated incremental borrowing rate, which is derived from information available at the lease commencement date, in determining the present value of operating lease payments. To determine the estimated incremental borrowing rate, the Company uses publicly available credit ratings for peer companies. The Company estimates the incremental borrowing rate using yields for maturities that are in line with the duration of the lease payments. The weighted average discount rate for operating leases as of June 30, 2020 is 5.3%. Included in the table below are operating lease commitments for leases that have not yet commenced of approximately $14.3 million for facilities with maximum lease terms of approximately 9 years in the United States. Future minimum payments under all operating and finance lease agreements as of June 30, 2020 are as follows: Operating (in thousands) 2020 $ 23,292 2021 49,492 2022 48,856 2023 48,488 2024 47,243 Thereafter 179,459 Total $ 396,830 The Company leases its office facilities under non-cancelable operating leases. Unused spaces are generally subleased to third parties. Operating sublease income generated under all operating lease agreements for the three and six months ended June 30, 2020 Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 (in thousands) (in thousands) Operating sublease income $ 1,374 $ 563 $ 2,728 $ 1,131 As of June 30, 2020 , t here were no material changes in our vendor commitments under non-cancelable arrangements, as disclosed in the Company’s audited consolidated financial statements for the year ended December 31, 2019 and related notes thereto contained in the Company’s Annual Report on Form 10-K , except as noted below. In May 2020, the Company extended a vendor commitment with an incremental three year contractual obligation of approximately $24 million, payable over the remaining three year term of the amended agreement. 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 Stockholders' Equity

Changes in Stockholders' Equity	6 Months Ended
	Jun. 30, 2020
Stockholders Equity Note [Abstract]
Changes in Stockholders' Equity	10. Changes in Stockholders’ Equity The following tables summarize the changes in stockholders’ equity for the six months ended June 30, 2020 and 2019. Common Stock, $0.001 Par Value Additional Paid-In Accumulated Other Comprehensive Accumulated Shares Amount Capital Income (Loss) Deficit Total Balances at December 31, 2019 42,955 $ 44 $ 1,048,380 $ (336 ) $ (398,130 ) 649,958 Issuance of common stock under stock plans, net of shares withheld for employee taxes 411 — 1,320 — — 1,320 Stock-based compensation — — 27,905 — 27,905 Cumulative translation adjustment — — — (1,077 ) — (1,077 ) Unrealized gain on investments, net of income taxes of $0 — — — 583 — 583 Net loss — — — — (17,716 ) (17,716 ) Balances at March 31, 2020 43,366 $ 44 $ 1,077,605 $ (830 ) $ (415,846 ) $ 660,973 Issuance of common stock under stock plans, net of shares withheld for employee taxes 425 — 11,701 — — 11,701 Equity component of 2025 Notes, net of issuance costs (Note 8) — — 96,610 — — 96,610 Purchase of Capped Call Options — — (50,600 ) — — (50,600 ) Equity component of the repayment of 2022 Notes (Note 8) 1,595 2 611 — — 613 Stock-based compensation — — 31,864 — — 31,864 Cumulative translation adjustment — — — 1,159 — 1,159 Unrealized gain on investments, net of income taxes of ($76) — — — 132 — 132 Net loss — — — — (29,401 ) (29,401 ) Balances at June 30, 2020 45,386 $ 46 $ 1,167,791 $ 461 $ (445,247 ) $ 723,051 Common Stock, $0.001 Par Value Additional Paid-In Accumulated Other Comprehensive Accumulated Shares Amount Capital Income (Loss) Deficit Total Balances at December 31, 2018 39,300 $ 40 $ 589,708 $ (723 ) $ (344,384 ) $ 244,641 Issuance of common stock under stock plans, net of shares withheld for employee taxes 440 1 1,161 — — 1,162 Issuance of common stock in relation to common stock offering, net of offering costs incurred $365 2,151 2 342,628 — — 342,630 Stock-based compensation — — 21,548 — 21,548 Cumulative translation adjustment — — — (304 ) — (304 ) Unrealized gain on investments, net of income taxes of $113 — — — 426 — 426 Net loss — — — — (11,100 ) (11,100 ) Balances at March 31, 2019 41,891 $ 43 $ 955,045 $ (601 ) $ (355,484 ) $ 599,003 Issuance of common stock under stock plans, net of shares withheld for employee taxes 385 — 6,595 — — 6,595 Stock-based compensation — — 29,061 — — 29,061 Cumulative translation adjustment — — — 254 — 254 Unrealized gain on investments, net of income taxes of $156 — — — 588 — 588 Net loss — — — — (17,357 ) (17,357 ) Balances at June 30, 2019 42,276 $ 43 $ 990,701 $ 241 $ (372,841 ) $ 618,144

Changes in Accumulated Other Co

Changes in Accumulated Other Comprehensive Loss	6 Months Ended
	Jun. 30, 2020
Equity [Abstract]
Changes in Accumulated Other Comprehensive Loss	11. Changes in Accumulated Other Comprehensive Loss The following table summarizes the changes in accumulated other comprehensive loss, which is reported as a component of stockholders’ equity, for the six months ended June 30, 2020. Cumulative Translation Adjustment Unrealized Gain on Investments Total (in thousands) Beginning balance at January 1, 2020 $ (610 ) $ 274 $ (336 ) Other comprehensive loss before reclassifications 82 715 797 Amounts reclassified from accumulated other comprehensive income — — — Ending balance at June 30, 2020 $ (528 ) $ 989 $ 461

Stock-Based Compensation Expens

Stock-Based Compensation Expense	6 Months Ended
	Jun. 30, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock-Based Compensation Expense	12. Stock-Based Compensation Expense The following two tables show stock-based compensation expense by award type and where the stock-based compensation expense is recorded in the Company’s consolidated statements of operations: Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 (in thousands) (in thousands) Options $ 1,586 $ 1,381 $ 3,408 $ 2,672 RSUs 28,490 26,083 52,793 44,822 Employee stock purchase plan 1,298 1,199 2,636 2,375 Total stock-based compensation expense $ 31,374 $ 28,663 $ 58,837 $ 49,869 Effect of stock-based compensation expense on income by line item: Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 (in thousands) (in thousands) Cost of revenue, subscription $ 1,075 $ 822 $ 1,974 $ 1,437 Cost of revenue, professional services and other 628 666 1,234 1,685 Research and development 10,111 10,553 18,819 17,644 Sales and marketing 12,868 10,523 23,684 18,327 General and administrative 6,692 6,099 13,126 10,776 Total stock-based compensation expense $ 31,374 $ 28,663 $ 58,837 $ 49,869 Capitalized software development costs excluded from stock-based compensation expense is $966 thousand for the three months ended June 30, 2020, $1.8 million for the six months ended June 30, 2020, $607 thousand for the three months ended June 30, 2019, and $1.1 million for the six months ended June 30, 2019.

Segment Information and Geograp

Segment Information and Geographic Data	6 Months Ended
	Jun. 30, 2020
Segment Reporting [Abstract]
Segment Information and Geographic Data	13. Segment Information and Geographic Data The Company operates as one operating segment. Operating segments are defined as components of an enterprise for which separate financial information is regularly evaluated by the chief operating decision makers (“CODMs”), which are the Company’s chief executive officer and chief operating officer, in deciding how to allocate resources and assess performance. The Company’s CODMs evaluate the Company’s financial information and resources and assess the performance of these resources on a consolidated basis. Since the Company operates in one operating segment, all required financial segment information can be found in the consolidated financial statements. Revenue and long-lived assets by geographic region, based on the physical location of the operations recording the sale or the asset, are as follows: Revenues by geographical region: Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 (in thousands) Americas $ 133,719 $ 111,181 $ 264,858 $ 215,470 Europe 54,558 40,283 107,229 76,959 Asia Pacific 15,331 11,791 30,488 22,624 Total $ 203,608 $ 163,255 $ 402,575 $ 315,053 Percentage of revenues generated outside of the Americas 34 % 32 % 34 % 32 % Revenue derived from customers outside the United States (international) was approximately 42% Total long-lived assets by geographical region: As of June 30, 2020 As of December 31, 2019 (in thousands) Americas $ 196,742 $ 175,821 Europe 151,431 127,395 Asia Pacific 12,282 14,823 Total long-lived assets $ 360,455 $ 318,039 Percentage of long-lived assets held outside of the Americas 45 % 45 %

Organization and Operations (Po

Organization and Operations (Policies)	6 Months Ended
	Jun. 30, 2020
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 January 2017, the Financial Accounting Standards Board (“FASB”) issued guidance simplifying the accounting for goodwill impairment by removing Step 2 of the goodwill impairment test. Under previous guidance, Step 2 of the goodwill impairment test required entities to calculate the implied fair value of goodwill in the same manner as the amount of goodwill recognized in a business combination by assigning the fair value of a reporting unit to all of the assets and liabilities of the reporting unit. The carrying value in excess of the implied fair value was recognized as goodwill impairment. Under the new guidance, goodwill impairment is recognized based on Step 1 of the current guidance, which calculates the carrying value in excess of the reporting unit’s fair value. The guidance was adopted effective January 1, 2020 and did not have a material impact on the consolidated financial statements. In June 2016, the FASB issued guidance that introduces a new methodology for accounting for credit losses on financial instruments. The guidance establishes a new forward-looking "expected loss model" that requires entities to estimate current expected credit losses on accounts receivable and financial instruments by using all practical and relevant information. The guidance was adopted effective January 1, 2020 and did not have a material impact on the consolidated financial statements. In December 2019, the FASB issued guidance simplifying the accounting for incomes taxes by removing (i) the exception to the incremental approach for intraperiod tax allocation when there is a loss from continuing operations and income or a gain from other items, (ii) the exception to recognize a deferred tax liability for equity method investments when a foreign subsidiary becomes an equity method investment, and (iii) the exception to the general methodology for calculating income taxes in an interim period when a year-to-date loss exceeds the anticipated loss for the year. The guidance also improves consistent application of and simplifies GAAP for other areas of Topic 740, Income Taxes. The guidance was adopted effective January 1, 2020, using a prospective approach and did not have a material impact on the consolidated financial statements.
Revenue	Revenues Disaggregation of Revenue The Company provides disaggregation of revenue based on geographic region (Note 13) and based on the subscription versus 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 six months ended June 30, 2020 increased by $6.9 million resulting from $409.5 million of additional invoicing and was offset by revenue recognized of $402.6 2020, approximately $189.1 mill Additional contract liabilities of $1.9 million and $1.4 million were The incremental direct costs of obtaining a contract, which primarily consist of sales commissions paid for new subscription contracts, are deferred and amortized on a straight-line basis over a period of approximately one to three years. The one to three-year period has been determined by taking into consideration the type of product sold, the commitment term of the customer contract, the nature of the Company’s technology development life-cycle, and an estimated customer relationship period. Sales commissions for upgrade contracts are deferred and amortized on a straight-line basis over the remaining estimated customer relationship period of the related customer. Deferred commission expense that will be recorded as expense during the succeeding 12-month period is recorded as current deferred commission expense, and the remaining portion is recorded as long-term deferred commission expense. Deferred commission expense during the three months ended June 30, 2020 increased by $4.9 Accounts Receivable and Allowance for Doubtful Accounts Accounts receivable are carried at the original invoiced amount less an allowance for doubtful accounts based on the probability of future collection. The probability of future collection is based on specific considerations of historical loss patterns and an assessment of the continuation of such patterns based on past collection trends and known or anticipated future economic events that may impact collectability. The pandemic has added uncertainty to the collectability of certain receivables, particularly in industries hard hit by the pandemic. As a result, the Company recorded an incremental reserve associated with the pandemic during the three and six months ended June 30, 2020. The following is a roll forward of the Company’s allowance for doubtful accounts: (in thousands) Balance at December 31, 2019 $ 1,584 Provision 6,953 Write-offs, net of recoveries (4,434 ) Balance at June 30, 2020 $ 4,103

Revenues (Tables)

Revenues (Tables)	6 Months Ended
	Jun. 30, 2020
Revenue From Contract With Customer [Abstract]
Schedule of Allowance for Doubtful Accounts	The following is a roll forward of the Company’s allowance for doubtful accounts: (in thousands) Balance at December 31, 2019 $ 1,584 Provision 6,953 Write-offs, net of recoveries (4,434 ) Balance at June 30, 2020 $ 4,103

Net Loss per Share (Tables)

Net Loss per Share (Tables)	6 Months Ended
	Jun. 30, 2020
Earnings Per Share [Abstract]
Summary of Reconciliation of Denominator Used in Calculation of Basic and Diluted Net Loss Per Share	A reconciliation of the denominator used in the calculation of basic and diluted net loss per share is as follows: Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Net loss $ (29,401 ) $ (17,357 ) $ (47,117 ) $ (28,457 ) Weighted-average common shares outstanding — basic 44,130 42,127 43,703 41,352 Dilutive effect of share equivalents resulting from stock options, RSUs, ESPP, Warrants and the Conversion Options — — — — Weighted-average common shares, outstanding — diluted 44,130 42,127 43,703 41,352 Net loss per share, basic and diluted $ (0.67 ) $ (0.41 ) $ (1.08 ) $ (0.69 )
Schedule of Potentially Dilutive Common Stock Equivalents	The following table contains all potentially dilutive common stock equivalents. As of June 30, 2020 2019 (in thousands) Options to purchase common shares 1,280 1,678 RSUs 1,865 1,948 Conversion Option of the 2022 Notes and Warrants 2,831 3,349 Conversion Option of the 2025 Notes — — ESPP — 2

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2020
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 June 30, 2020 and December 31, 2019: June 30, 2020 Level 1 Level 2 Level 3 Total (in thousands) Cash equivalents and investments: Money market funds $ 102,995 $ — $ — $ 102,995 Commercial paper — 22,074 — 22,074 Corporate bonds — 124,181 — 124,181 U.S. Treasury securities — 849,438 — 849,438 Certificates of deposit — 394 — 394 Restricted cash: Money market funds — 3,029 — 3,029 Total $ 102,995 $ 999,116 $ — $ 1,102,111 December 31, 2019 Level 1 Level 2 Level 3 Total (in thousands) Cash equivalents and investments: Money market funds $ 96,618 $ — $ — $ 96,618 Commercial paper — 87,185 — 87,185 Corporate bonds — 87,138 — 87,138 U.S. Treasury securities — 631,174 — 631,174 Restricted cash: Certificates of deposit — 5,816 — 5,816 Money market funds — 3,029 — 3,029 Total $ 96,618 $ 814,342 $ — $ 910,960
Summary of Composition of Short and Long Term Investments	The following tables summarize the composition of our short- and long-term investments at June 30, 2020 and December 31, 2019. June 30, 2020 Amortized Cost Unrealized Gains Unrealized Losses Aggregate Fair Value (in thousands) Commercial paper $ 22,074 $ — $ — $ 22,074 Corporate bonds 123,219 986 (24 ) 124,181 U.S. Treasury securities 849,328 200 (90 ) 849,438 Certificates of deposit 394 — — 394 Total $ 995,015 $ 1,186 $ (114 ) $ 996,087 December 31, 2019 Amortized Cost Unrealized Gains Unrealized Losses Aggregate Fair Value (in thousands) Commercial paper $ 77,214 $ — $ — $ 77,214 Corporate bonds 86,900 251 (13 ) 87,138 U.S. Treasury securities 581,066 207 (15 ) 581,258 Total $ 745,180 $ 458 $ (28 ) $ 745,610
Summary of Contractual Maturities of Short and Long Term Investments	The contractual maturities of short-term and long-term investments held at June 30, 2020 and December 31, 2019 are as follows: June 30, 2020 December 31, 2019 Amortized Cost Basis Aggregate Fair Value Amortized Cost Basis Aggregate Fair Value (in thousands) (in thousands) Due within one year $ 934,410 $ 934,992 $ 691,556 $ 691,834 Due after 1 year through 2 years 60,605 61,095 53,624 53,776 Total $ 995,015 $ 996,087 $ 745,180 $ 745,610

Restricted cash (Tables)

Restricted cash (Tables)	6 Months Ended
	Jun. 30, 2020
Cash And Cash Equivalents [Abstract]
Summary of Reconciliation of Cash, Cash Equivalents and Restricted Cash	The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the consolidated balance sheets that sum to the total of the same such amounts shown in the statement of cash flows for the three months ended June 30, 2020 and 2019. June 30, 2020 June 30, 2019 December 31, 2019 (in thousands) Cash and cash equivalents $ 201,086 $ 238,080 $ 269,670 Restricted cash, included in prepaid expenses and other current assets — 6,019 5,816 Restricted cash, included in other assets 3,029 1,503 3,029 Total cash, cash equivalents, and restricted cash $ 204,115 $ 245,602 $ 278,515

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	6 Months Ended
	Jun. 30, 2020
Property Plant And Equipment [Abstract]
Schedule of Property and Equipment, Net	Property and equipment, net consists of the following: June 30, 2020 December 31, 2019 (in thousands) Computer equipment and purchased software $ 13,356 $ 13,028 Employee related computer equipment 18,305 13,829 Furniture and fixtures 18,519 14,319 Leasehold improvements 75,244 56,618 Equipment under finance lease 3,450 3,450 Internal-use software 10,346 7,770 Construction in progress 9,324 23,714 Total property and equipment 148,544 132,728 Less accumulated depreciation (58,551 ) (49,079 ) Property and equipment, net $ 89,993 $ 83,649

Capitalized Software Developm_2

Capitalized Software Development Costs (Tables)	6 Months Ended
	Jun. 30, 2020
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: June 30, 2020 December 31, 2019 (in thousands) Gross capitalized software development costs $ 73,253 $ 61,641 Accumulated amortization (51,862 ) (44,848 ) Capitalized software development costs, net $ 21,391 $ 16,793
Summary of Capitalized Software Development Costs Including Stock-Based Compensation and Amortization	The following table summarizes software development costs capitalized, stock-based compensation included in capitalized software development costs, and amortization of capitalized software development costs. Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 (in thousands) (in thousands) Software development costs capitalized $ 6,179 $ 2,959 $ 11,612 $ 6,237 Stock-based compensation included in capitalized software development costs $ 788 $ 607 $ 1,492 $ 1,115 Amortization of capitalized software development costs $ 3,654 $ 2,572 $ 7,129 $ 5,067

Convertible Senior Notes (Table

Convertible Senior Notes (Tables)	6 Months Ended
	Jun. 30, 2020
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 June 30, 2020 As of December 31, 2019 (in thousands) Principal $ 460,000 $ — Unamortized debt discount (97,512 ) — Unamortized issuance costs (7,662 ) — Net carrying amount $ 354,826 $ —
0.375% Convertible Senior Notes Due 2025 as Equity Component [Member]
Debt Instrument [Line Items]
Schedule of Net Carrying Amount of Notes	The net carrying amount of the equity component of the 2025 Notes is as follows: As of June 30, 2020 As of December 31, 2019 (in thousands) Debt discount for conversion option $ 98,730 $ — Issuance costs (2,120 ) — Net carrying amount $ 96,610 $ —
0.375% Convertible Senior Notes Due 2025 [Member]
Debt Instrument [Line Items]
Schedule of Interest Expense	Interest expense related to the 2025 Notes is as follows: Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 (in thousands) (in thousands) Contractual interest expense $ 125 $ — $ 125 $ — Amortization of debt discount 1,218 — 1,218 — Amortization of issuance costs 96 — 96 — Total interest expense $ 1,439 $ — $ 1,439 $ —
0.25% Convertible Senior Notes Due 2022 as Liability Component [Member]
Debt Instrument [Line Items]
Schedule of Net Carrying Amount of Notes	The net carrying amount of the liability component of the 2022 Notes is as follows: As of June 30, 2020 As of December 31, 2019 (in thousands) Principal $ 127,841 $ 399,992 Unamortized debt discount (14,091 ) (55,299 ) Unamortized issuance costs (1,053 ) (4,129 ) Net carrying amount $ 112,697 $ 340,564
0.25%Convertible Senior Notes Due 2022 as Equity Component [Member]
Debt Instrument [Line Items]
Schedule of Net Carrying Amount of Notes	The net carrying amount of the equity component of the 2022 Notes is as follows: As of June 30, 2020 As of December 31, 2019 (in thousands) Debt discount for conversion option $ 33,880 $ 106,006 Issuance costs (912 ) (2,854 ) Net carrying amount $ 32,968 $ 103,152
0.25% Convertible Senior Notes Due 2022 [Member]
Debt Instrument [Line Items]
Schedule of Interest Expense	Interest expense related to the 2022 Notes is as follows: Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 (in thousands) (in thousands) Contractual interest expense $ 212 $ 250 $ 462 $ 500 Amortization of debt discount 4,323 5,039 9,629 9,934 Amortization of issuance costs 323 376 719 741 Total interest expense $ 4,858 $ 5,665 $ 10,810 $ 11,175
0.25% Convertible Senior Notes Due 2022 as Net Equity Impact [Member]
Debt Instrument [Line Items]
Schedule of Net Equity Impact, Included in Additional Paid-in Capital, of the Liability and Equity Components	The net equity impact, included in additional paid-in capital, of the above components of the 2022 Notes is as follows: (in thousands) Conversion Option $ (364,835 ) Issuance of common stock for repayment of 2022 Notes 330,497 Proceeds from settlement of Convertible Note Hedges 362,492 Payments for settlement of Warrants (327,543 ) $ 611

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2020
Commitments And Contingencies Disclosure [Abstract]
Schedule of Future Minimum Payments	Future minimum payments under all operating and finance lease agreements as of June 30, 2020 are as follows: Operating (in thousands) 2020 $ 23,292 2021 49,492 2022 48,856 2023 48,488 2024 47,243 Thereafter 179,459 Total $ 396,830
Schedule of Operating Sublease Income Generated under Operating Lease Agreements	Operating sublease income generated under all operating lease agreements for the three and six months ended June 30, 2020 Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 (in thousands) (in thousands) Operating sublease income $ 1,374 $ 563 $ 2,728 $ 1,131

Changes in Stockholders' Equi_2

Changes in Stockholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2020
Stockholders Equity Note [Abstract]
Summary of Changes in Stockholders' Equity	The following tables summarize the changes in stockholders’ equity for the six months ended June 30, 2020 and 2019. Common Stock, $0.001 Par Value Additional Paid-In Accumulated Other Comprehensive Accumulated Shares Amount Capital Income (Loss) Deficit Total Balances at December 31, 2019 42,955 $ 44 $ 1,048,380 $ (336 ) $ (398,130 ) 649,958 Issuance of common stock under stock plans, net of shares withheld for employee taxes 411 — 1,320 — — 1,320 Stock-based compensation — — 27,905 — 27,905 Cumulative translation adjustment — — — (1,077 ) — (1,077 ) Unrealized gain on investments, net of income taxes of $0 — — — 583 — 583 Net loss — — — — (17,716 ) (17,716 ) Balances at March 31, 2020 43,366 $ 44 $ 1,077,605 $ (830 ) $ (415,846 ) $ 660,973 Issuance of common stock under stock plans, net of shares withheld for employee taxes 425 — 11,701 — — 11,701 Equity component of 2025 Notes, net of issuance costs (Note 8) — — 96,610 — — 96,610 Purchase of Capped Call Options — — (50,600 ) — — (50,600 ) Equity component of the repayment of 2022 Notes (Note 8) 1,595 2 611 — — 613 Stock-based compensation — — 31,864 — — 31,864 Cumulative translation adjustment — — — 1,159 — 1,159 Unrealized gain on investments, net of income taxes of ($76) — — — 132 — 132 Net loss — — — — (29,401 ) (29,401 ) Balances at June 30, 2020 45,386 $ 46 $ 1,167,791 $ 461 $ (445,247 ) $ 723,051 Common Stock, $0.001 Par Value Additional Paid-In Accumulated Other Comprehensive Accumulated Shares Amount Capital Income (Loss) Deficit Total Balances at December 31, 2018 39,300 $ 40 $ 589,708 $ (723 ) $ (344,384 ) $ 244,641 Issuance of common stock under stock plans, net of shares withheld for employee taxes 440 1 1,161 — — 1,162 Issuance of common stock in relation to common stock offering, net of offering costs incurred $365 2,151 2 342,628 — — 342,630 Stock-based compensation — — 21,548 — 21,548 Cumulative translation adjustment — — — (304 ) — (304 ) Unrealized gain on investments, net of income taxes of $113 — — — 426 — 426 Net loss — — — — (11,100 ) (11,100 ) Balances at March 31, 2019 41,891 $ 43 $ 955,045 $ (601 ) $ (355,484 ) $ 599,003 Issuance of common stock under stock plans, net of shares withheld for employee taxes 385 — 6,595 — — 6,595 Stock-based compensation — — 29,061 — — 29,061 Cumulative translation adjustment — — — 254 — 254 Unrealized gain on investments, net of income taxes of $156 — — — 588 — 588 Net loss — — — — (17,357 ) (17,357 ) Balances at June 30, 2019 42,276 $ 43 $ 990,701 $ 241 $ (372,841 ) $ 618,144

Changes in Accumulated Other _2

Changes in Accumulated Other Comprehensive Loss (Tables)	6 Months Ended
	Jun. 30, 2020
Equity [Abstract]
Changes in Accumulated Other Comprehensive Loss	The following table summarizes the changes in accumulated other comprehensive loss, which is reported as a component of stockholders’ equity, for the six months ended June 30, 2020. Cumulative Translation Adjustment Unrealized Gain on Investments Total (in thousands) Beginning balance at January 1, 2020 $ (610 ) $ 274 $ (336 ) Other comprehensive loss before reclassifications 82 715 797 Amounts reclassified from accumulated other comprehensive income — — — Ending balance at June 30, 2020 $ (528 ) $ 989 $ 461

Stock-Based Compensation Expe_2

Stock-Based Compensation Expense (Tables)	6 Months Ended
	Jun. 30, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [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 June 30, Six Months Ended June 30, 2020 2019 2020 2019 (in thousands) (in thousands) Options $ 1,586 $ 1,381 $ 3,408 $ 2,672 RSUs 28,490 26,083 52,793 44,822 Employee stock purchase plan 1,298 1,199 2,636 2,375 Total stock-based compensation expense $ 31,374 $ 28,663 $ 58,837 $ 49,869
Effect of Stock-Based Compensation on Income by Line Item	Effect of stock-based compensation expense on income by line item: Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 (in thousands) (in thousands) Cost of revenue, subscription $ 1,075 $ 822 $ 1,974 $ 1,437 Cost of revenue, professional services and other 628 666 1,234 1,685 Research and development 10,111 10,553 18,819 17,644 Sales and marketing 12,868 10,523 23,684 18,327 General and administrative 6,692 6,099 13,126 10,776 Total stock-based compensation expense $ 31,374 $ 28,663 $ 58,837 $ 49,869

Segment Information and Geogr_2

Segment Information and Geographic Data (Tables)	6 Months Ended
	Jun. 30, 2020
Segment Reporting [Abstract]
Revenues by Geographical Region	Revenues by geographical region: Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 (in thousands) Americas $ 133,719 $ 111,181 $ 264,858 $ 215,470 Europe 54,558 40,283 107,229 76,959 Asia Pacific 15,331 11,791 30,488 22,624 Total $ 203,608 $ 163,255 $ 402,575 $ 315,053 Percentage of revenues generated outside of the Americas 34 % 32 % 34 % 32 %
Long Lived Assets by Geographical Region	Total long-lived assets by geographical region: As of June 30, 2020 As of December 31, 2019 (in thousands) Americas $ 196,742 $ 175,821 Europe 151,431 127,395 Asia Pacific 12,282 14,823 Total long-lived assets $ 360,455 $ 318,039 Percentage of long-lived assets held outside of the Americas 45 % 45 %

Revenues - Additional Informati

Revenues - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Revenue Initial Application Period Cumulative Effect Transition [Line Items]
Additions in deferred revenue			$ 6,900
Additional Invoicing			409,500
Total revenues	$ 203,608	$ 163,255	402,575	$ 315,053
Deferred revenue, revenue recognized	127,900		178,600
Revenue remaining performance obligation, contracts exceeds one year	189,100		$ 189,100
Revenue remaining performance obligation contract period			1 year
Revenue remaining performance obligation percentage recognized			94.00%
Short-term deferred revenue	238,101		$ 238,101		$ 231,030
Increase (decrease) in deferred commission expense	4,900		5,800
Incremental costs of deferred sales commission expense	15,000		26,600
Amortization of deferred commission expense	10,100		$ 20,800
Minimum [Member]
Revenue Initial Application Period Cumulative Effect Transition [Line Items]
Amortization period of deferred commissions			1 year
Maximum [Member]
Revenue Initial Application Period Cumulative Effect Transition [Line Items]
Amortization period of deferred commissions			3 years
Accrued Expenses and Other Current Liabilities [Member]
Revenue Initial Application Period Cumulative Effect Transition [Line Items]
Short-term deferred revenue	$ 1,900		$ 1,900		$ 1,400

Revenues - Additional Informa_2

Revenues - Additional Information1 (Detail)	Jun. 30, 2020
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2020-07-01
Revenue Initial Application Period Cumulative Effect Transition [Line Items]
Revenue remaining performance obligations recognition period	24 months

Revenues - Schedule of Allowanc

Revenues - Schedule of Allowance for Doubtful Accounts (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2020USD ($)
Accounts Notes Loans And Financing Receivable Gross Allowance And Net [Abstract]
Beginning Balance	$ 1,584
Provision	6,953
Write-offs, net of recoveries	(4,434)
Ending Balance	$ 4,103

Net Loss per Share - Summary of

Net Loss per Share - Summary of Reconciliation of Denominator Used in Calculation of Basic and Diluted Net Loss Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2020	Jun. 30, 2019
Earnings Per Share Basic And Diluted [Abstract]
Net loss	$ (29,401)	$ (17,716)	$ (17,357)	$ (11,100)	$ (47,117)	$ (28,457)
Weighted-average common shares outstanding — basic	44,130		42,127		43,703	41,352
Weighted-average common shares, outstanding — diluted	44,130		42,127		43,703	41,352
Net loss per share, basic and diluted	$ (0.67)		$ (0.41)		$ (1.08)	$ (0.69)

Net Loss per Share - Additional

Net Loss per Share - Additional Information (Detail)	3 Months Ended	6 Months Ended
	Jun. 30, 2020$ / shares	Jun. 30, 2020d$ / shares
Earnings Per Share Basic [Line Items]
Average stock price | $ / shares	$ 179.84	$ 173.13
Common Stock [Member]
Earnings Per Share Basic [Line Items]
Warrants exercise price per share | $ / shares	115.80	115.80
0.25% Convertible Senior Notes Due 2022 as Liability Component [Member]
Earnings Per Share Basic [Line Items]
Common stock conversion price | $ / shares	94.77	$ 94.77
Debt instrument, convertible, threshold trading days | d		20
Debt instrument, convertible, threshold consecutive trading days | d		30
Percentage of closing price to trigger debt conversion		130.00%
0.375% Convertible Senior Notes Due 2025 [Member]
Earnings Per Share Basic [Line Items]
Common stock conversion price | $ / shares	$ 282.52	$ 282.52
Debt instrument, convertible, threshold trading days | d		20
Debt instrument, convertible, threshold consecutive trading days | d		30
0.375% Convertible Senior Notes Due 2025 [Member] | Maximum [Member]
Earnings Per Share Basic [Line Items]
Percentage of closing price to trigger debt conversion		130.00%

Net Loss per Share - Schedule o

Net Loss per Share - Schedule of Potentially Dilutive Common Stock Equivalents (Detail) - shares shares in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Options to Purchase Common Shares [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	1,280	1,678
RSUs [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	1,865	1,948
Conversion Option of the 2022 Notes and Warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	2,831	3,349
ESPP [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share		2

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Schedule of Fair Value of Financial Assets and Liabilities (Detail) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of short and long term investments	$ 996,087	$ 745,610
Fair value of financial assets	1,102,111	910,960
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of financial assets	102,995	96,618
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of financial assets	999,116	814,342
Money Market Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of cash and cash equivalents	102,995	96,618
Fair value of restricted cash	3,029	3,029
Money Market Funds [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of cash and cash equivalents	102,995	96,618
Money Market Funds [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of restricted cash	3,029	3,029
Commercial Paper [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of short and long term investments	22,074	87,185
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	22,074	87,185
Corporate Bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of short and long term investments	124,181	87,138
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	124,181	87,138
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	849,438	631,174
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	849,438	631,174
Certificates of Deposit [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of short and long term investments	394
Fair value of restricted cash		5,816
Certificates of Deposit [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of short and long term investments	$ 394
Fair value of restricted cash		$ 5,816

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Additional Information (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Other assets	$ 10,875	$ 9,824
Strategic Investments [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Other assets	5,200	$ 4,400
Impairment charges	250
2022 Notes [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Fair value of notes	303,600
2025 Notes [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Fair value of notes	$ 492,100

Fair Value of Financial Instr_5

Fair Value of Financial Instruments - Summary of Composition of Short and Long Term Investments (Detail) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 995,015	$ 745,180
Unrealized Gains	1,186	458
Unrealized Losses	(114)	(28)
Aggregate Fair Value	996,087	745,610
Commercial Paper [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	22,074	77,214
Aggregate Fair Value	22,074	77,214
Corporate Bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	123,219	86,900
Unrealized Gains	986	251
Unrealized Losses	(24)	(13)
Aggregate Fair Value	124,181	87,138
US Treasury Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	849,328	581,066
Unrealized Gains	200	207
Unrealized Losses	(90)	(15)
Aggregate Fair Value	849,438	$ 581,258
Certificates of Deposit [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	394
Aggregate Fair Value	$ 394

Fair Value of Financial Instr_6

Fair Value of Financial Instruments - Summary of Contractual Maturities of Short and Long Term Investments (Detail) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Fair Value Disclosures [Abstract]
Amortized Cost Basis, Due within one year	$ 934,410	$ 691,556
Amortized Cost Basis, Due after 1 year through 2 years	60,605	53,624
Amortized Cost	995,015	745,180
Aggregate Fair Value, Due within one year	934,992	691,834
Aggregate Fair Value, Due after 1 year through 2 years	61,095	53,776
Aggregate Fair Value, Total	$ 996,087	$ 745,610

Restricted Cash - Summary of Re

Restricted Cash - Summary of Reconciliation of Cash, Cash Equivalents and Restricted Cash (Detail) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019	Jun. 30, 2019
Cash And Cash Equivalents [Abstract]
Cash and cash equivalents	$ 201,086	$ 269,670	$ 238,080
Restricted cash, included in prepaid expenses and other current assets		$ 5,816	$ 6,019
Restricted Cash, Current, Asset, Statement of Financial Position [Extensible List]	us-gaap:PrepaidExpenseAndOtherAssetsCurrent	us-gaap:PrepaidExpenseAndOtherAssetsCurrent	us-gaap:PrepaidExpenseAndOtherAssetsCurrent
Restricted cash, included in other assets	$ 3,029	$ 3,029	$ 1,503
Restricted Cash, Asset, Statement of Financial Position [Extensible List]	us-gaap:OtherAssets	us-gaap:OtherAssets	us-gaap:OtherAssets
Total cash, cash equivalents, and restricted cash	$ 204,115	$ 278,515	$ 245,602

Property and Equipment, Net - S

Property and Equipment, Net - Schedule of Property and Equipment, Net (Detail) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 148,544	$ 132,728
Less accumulated depreciation	(58,551)	(49,079)
Property and equipment, net	89,993	83,649
Computer Equipment and Purchased Software [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	13,356	13,028
Employee Related Computer Equipment [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	18,305	13,829
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	18,519	14,319
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	75,244	56,618
Equipment under Finance Lease [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	3,450	3,450
Internal Use Software [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	10,346	7,770
Construction in Progress [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 9,324	$ 23,714

Property and Equipment, Net - A

Property and Equipment, Net - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Property Plant And Equipment [Abstract]
Depreciation and amortization	$ 4.9	$ 3.7	$ 9.6	$ 7.4

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	Jun. 30, 2020	Dec. 31, 2019
Capitalized Computer Software Net [Abstract]
Gross capitalized software development costs	$ 73,253	$ 61,641
Accumulated amortization	(51,862)	(44,848)
Capitalized software development costs, net	$ 21,391	$ 16,793

Capitalized Software Developm_4

Capitalized Software Development Costs - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2020
Capitalized Software Development Costs [Member]
Capitalized Computer Software [Line Items]
Property and equipment, estimated useful life	2 years

Capitalized Software Developm_5

Capitalized Software Development Costs - Summary of Capitalized Software Development Costs Including Stock-Based Compensation and Amortization (Detail) - Internal Use Software [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Capitalized Computer Software [Line Items]
Software development costs capitalized	$ 6,179	$ 2,959	$ 11,612	$ 6,237
Stock-based compensation included in capitalized software development costs	788	607	1,492	1,115
Amortization of capitalized software development costs	$ 3,654	$ 2,572	$ 7,129	$ 5,067

Convertible Senior Notes - Addi

Convertible Senior Notes - Additional Information (Detail)	1 Months Ended		6 Months Ended
	Jun. 30, 2020USD ($)$ / sharesshares	May 31, 2017USD ($)$ / shares	Jun. 30, 2020USD ($)d$ / sharesshares
Debt Instrument [Line Items]
Proceeds from issuance of notes			$ 450,614,000
Loss on early extinguishment of debt			$ (10,493,000)
Common Stock [Member]
Debt Instrument [Line Items]
Warrants exercise price per share | $ / shares	$ 115.80		$ 115.80
0.375% Convertible Senior Notes Due 2025 [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	0.375%		0.375%
Debt instrument, maturity date			Jun. 1, 2025
Debt instrument, payment terms			The interest rate is fixed at 0.375% per annum and is payable semi-annually in arrears on June 1 and December 1 of each year.
Proceeds from issuance of notes	$ 450,100,000
Debt instrument, convertible, threshold trading days | d			20
Debt instrument, convertible, threshold consecutive trading days | d			30
Principal amount of each convertible note	$ 1,000,000,000		$ 1,000,000,000
Debt instrument, conversion ratio	3.5396
Common stock conversion price | $ / shares	$ 282.52		$ 282.52
Debt Instrument, Redemption Price, Percentage	100.00%
Debt Instrument, Redemption, Description			repurchase price equal to 100% of the principal amount of the notes to be repurchased, plus accrued and unpaid interest to, but excluding, the fundamental change repurchase date.
Principal amount settlement, Description			The Company expects to settle the principal amount of the 2025 Notes in cash.
Carrying amount of equity component	$ 98,700,000		$ 98,700,000
Debt instrument, effective interest rate	5.71%		5.71%
Debt issuance costs	$ 9,900,000		$ 9,900,000
0.375% Convertible Senior Notes Due 2025 [Member] | Capped Call Options [Member]
Debt Instrument [Line Items]
Cost of purchased capped call options	$ 50,600,000
Derivative, price risk option strike price | $ / shares	282.52		282.52
Derivative, cap price | $ / shares	426.44		426.44
0.375% Convertible Senior Notes Due 2025 [Member] | Liability Component [Member]
Debt Instrument [Line Items]
Debt issuance costs	$ 7,800,000		$ 7,800,000
0.375% Convertible Senior Notes Due 2025 [Member] | Equity Component [Member]
Debt Instrument [Line Items]
Debt issuance costs	2,100,000		2,100,000
0.375% Convertible Senior Notes Due 2025 [Member] | Private Offering [Member]
Debt Instrument [Line Items]
Principal amount of long term debt	400,000,000		400,000,000
0.375% Convertible Senior Notes Due 2025 [Member] | Over-Allotment Options [Member]
Debt Instrument [Line Items]
Principal amount of long term debt	60,000,000		$ 60,000,000
0.25% Convertible Senior Notes Due 2022 [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage		0.25%
Debt instrument, maturity date			Jun. 1, 2022
Debt instrument, payment terms			The interest rate is fixed at 0.25% per annum and is payable semi-annually in arrears on June 1 and December 1 of each year.
Proceeds from issuance of notes		$ 389,200,000
Debt instrument, convertible, threshold trading days | d			20
Debt instrument, convertible, threshold consecutive trading days | d			30
Debt instrument convertible, principal amount	$ 364,800,000	1,000	$ 364,800,000
Principal amount of each convertible note		$ 1,000,000,000
Debt instrument, conversion ratio		10.5519
Common stock conversion price | $ / shares		$ 94.77
Debt instrument, effective interest rate	4.90%		4.90%
Number of common shares to be repurchased under convertible note hedge transactions with certain counterparties | shares	4,200,000		4,200,000
Hedging option strike price per common stock | $ / shares			$ 94.77
Cost of convertible note hedge transactions			$ 78,900,000
Warrants expected to settle, description			The Warrants are expected to settle three business days from each trading day commencing on September 1, 2022 and ending on the 79th trading day thereafter.
Settlement period of warrants excess price over strike price			3 days
Warrants expected to settle, commencement date			Sep. 1, 2022
Sales of warrants			$ 58,900,000
Net of issuance costs			200,000
Convertible notes hedge and warrant transactions cost net			20,000,000
Repurchase of aggregate principal amount	$ 272,100,000		272,100,000
Debt instrument, aggregate purchase price	283,000,000		283,000,000
Debt instrument, aggregate consideration	613,500,000
Fair value of debt component of repurchases	$ 248,700,000		$ 248,700,000
0.25% Convertible Senior Notes Due 2022 [Member] | Common Stock [Member]
Debt Instrument [Line Items]
Warrants holders option to purchase number of shares of company’s common stock | shares	4,200,000		4,200,000
Warrants exercise price per share | $ / shares	$ 115.8		$ 115.8
Debt instrument convertible to common stock | shares	1,600,000
Debt instrument convertible to common stock, value per share | $ / shares	$ 207.17
0.25% Convertible Senior Notes Due 2022 [Member] | Private Offering [Member]
Debt Instrument [Line Items]
Principal amount of long term debt		$ 350,000,000
0.25% Convertible Senior Notes Due 2022 [Member] | Over-Allotment Options [Member]
Debt Instrument [Line Items]
Principal amount of long term debt		$ 50,000,000
2022 Notes Partial Repurchase [Member]
Debt Instrument [Line Items]
Principal amount of long term debt	$ 127,800,000		$ 127,800,000
Unamortized debt discount	238,200,000		238,200,000
Unamortized issuance costs	238,200,000		$ 238,200,000
Loss on early extinguishment of debt	10,500,000
Adjustments to additional paid in capital, equity component of convertible debt	364,800,000
2022 Convertible Note Hedges [Member]
Debt Instrument [Line Items]
Proceeds from issuance of notes	$ 34,900,000
2022 Convertible Note Hedges [Member] | Common Stock [Member]
Debt Instrument [Line Items]
Debt instrument convertible to common stock | shares	1,300,000
Debt instrument convertible to common stock for cash consideration | shares	2,900,000
Debt instrument cash consideration for conversion	$ 362,500,000
2022 Convertible Note Hedges [Member] | Warrants [Member]
Debt Instrument [Line Items]
Debt instrument convertible to common stock | shares	1,300,000
Debt instrument convertible to common stock for cash consideration | shares	2,900,000
Debt instrument cash consideration for conversion	$ 327,600,000
Minimum [Member] | 0.25% Convertible Senior Notes Due 2022 [Member]
Debt Instrument [Line Items]
Common stock conversion price | $ / shares	$ 94.77		$ 94.77
Maximum [Member] | 0.375% Convertible Senior Notes Due 2025 [Member]
Debt Instrument [Line Items]
Percentage of closing price to trigger debt conversion			130.00%
Maximum [Member] | 0.375% Convertible Senior Notes Due 2025 [Member] | Capped Call Options [Member]
Debt Instrument [Line Items]
Common stock shares covered under capped call transactions | shares	1,600,000
Maximum [Member] | 0.25% Convertible Senior Notes Due 2022 [Member]
Debt Instrument [Line Items]
Percentage of closing price to trigger debt conversion			130.00%
Common stock conversion price | $ / shares	$ 115.83		$ 115.83

Convertible Senior Notes - Sche

Convertible Senior Notes - Schedule of Net Carrying Amount of Liability Component (Detail) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Net carrying amount	$ 467,523	$ 340,564
0.375%Convertible Senior Notes Due 2025 as Liability Component [Member]
Debt Instrument [Line Items]
Principal	460,000
Unamortized debt discount	(97,512)
Unamortized issuance costs	(7,662)
Net carrying amount	354,826
0.25% Convertible Senior Notes Due 2022 as Liability Component [Member]
Debt Instrument [Line Items]
Principal	127,841	399,992
Unamortized debt discount	(14,091)	(55,299)
Unamortized issuance costs	(1,053)	(4,129)
Net carrying amount	$ 112,697	$ 340,564

Convertible Senior Notes - Sc_2

Convertible Senior Notes - Schedule of Net Carrying Amount of Equity Component (Detail) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
0.375% Convertible Senior Notes Due 2025 as Equity Component [Member]
Debt Instrument [Line Items]
Debt discount for conversion option	$ 98,730
Issuance costs	(2,120)
Net carrying amount	96,610
Debt issuance costs	2,120
0.25%Convertible Senior Notes Due 2022 as Equity Component [Member]
Debt Instrument [Line Items]
Debt discount for conversion option	33,880	$ 106,006
Issuance costs	(912)	(2,854)
Net carrying amount	32,968	103,152
Debt issuance costs	$ 912	$ 2,854

Convertible Senior Notes - Sc_3

Convertible Senior Notes - Schedule of Interest Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
0.375% Convertible Senior Notes Due 2025 [Member]
Debt Instrument [Line Items]
Contractual interest expense	$ 125		$ 125
Amortization of debt discount	1,218		1,218
Amortization of issuance costs	96		96
Total interest expense	1,439		1,439
0.25% Convertible Senior Notes Due 2022 [Member]
Debt Instrument [Line Items]
Contractual interest expense	212	$ 250	462	$ 500
Amortization of debt discount	4,323	5,039	9,629	9,934
Amortization of issuance costs	323	376	719	741
Total interest expense	$ 4,858	$ 5,665	$ 10,810	$ 11,175

Convertible Senior Notes - Sc_4

Convertible Senior Notes - Schedule of Net Equity Impact, Included in Additional Paid-in Capital, of the Liability and Equity Components (Detail) - 0.25% Convertible Senior Notes Due 2022 as Net Equity Impact [Member] $ in Thousands	6 Months Ended
	Jun. 30, 2020USD ($)
Debt Instrument [Line Items]
Conversion Option	$ (364,835)
Issuance of common stock for repayment of 2022 Notes	330,497
Cost of convertible note hedge transactions	362,492
Payments for settlement of Warrants	(327,543)
Total	$ 611

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) $ in Thousands	1 Months Ended	3 Months Ended	6 Months Ended
	May 31, 2020USD ($)	Jun. 30, 2020USD ($)ft²	Jun. 30, 2020USD ($)ft²	Dec. 31, 2019USD ($)
Commitments and Contingencies [Line Items]
Improvement reimbursements from landlords			$ 18,900
Increase in future lease commitments			83,100
Operating leases right-of-use assets		$ 270,462	$ 270,462	$ 234,390
Weighted average discount rate for operating leases		5.30%	5.30%
Amended Agreement [Member] | Web Hosting Vendor [Member]
Commitments and Contingencies [Line Items]
Description of contractual obligation			In May 2020, the Company extended a vendor commitment with an incremental three year contractual obligation of approximately $24 million, payable over the remaining three year term of the amended agreement.
Contractual obligation, payment term	3 years
Contractual obligation	$ 24,000
Germany [Member]
Commitments and Contingencies [Line Items]
Square feet of office space under lease agreement | ft²		104,000	104,000
Operating lease, renewal term		5 years	5 years
Operating lease, existence of option to extend		true
Operating lease, aggregate base rent payments, excluding renewal options		$ 52,400
Operating leases right-of-use assets		44,700	$ 44,700
Operating leases lease liabilities		45,000	45,000
United States [Member]
Commitments and Contingencies [Line Items]
Lease operating lease commitments that have not yet commenced		$ 14,300	$ 14,300
United States [Member] | Maximum [Member]
Commitments and Contingencies [Line Items]
Operating lease term		9 years	9 years

Commitments and Contingencies_2

Commitments and Contingencies - Schedule of Future Minimum Payments (Detail) $ in Thousands	Jun. 30, 2020USD ($)
Commitments And Contingencies Disclosure [Abstract]
Operating, 2020	$ 23,292
Operating, 2021	49,492
Operating, 2022	48,856
Operating, 2023	48,488
Operating, 2024	47,243
Operating, Thereafter	179,459
Lease commitments, Operating leases	$ 396,830

Commitments and Contingencies_3

Commitments and Contingencies - Schedule of Operating Sublease Income Generated under Operating Lease Agreements (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Commitments And Contingencies Disclosure [Abstract]
Operating sublease income	$ 1,374	$ 563	$ 2,728	$ 1,131

Changes in Stockholders' Equi_3

Changes in Stockholders' Equity - Summary of Changes in Stockholders' Equity (Detail) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2020	Jun. 30, 2019
Class Of Stock [Line Items]
Beginning Balance, Amount	$ 660,973	$ 649,958	$ 599,003	$ 244,641	$ 649,958	$ 244,641
Issuance of common stock under stock plans, net of shares withheld for employee taxes	11,701	1,320	6,595	1,162
Purchase of Capped Call Options	(50,600)
Issuance of common stock in relation to common stock offering, net of offering costs incurred $365				342,630
Stock-based compensation	31,864	27,905	29,061	21,548
Cumulative translation adjustment	1,159	(1,077)	254	(304)
Unrealized gain on investments, net of income taxes of $0, ($76), $113 and $156	132	583	588	426
Net loss	(29,401)	(17,716)	(17,357)	(11,100)	(47,117)	(28,457)
Ending Balance, Amount	723,051	660,973	618,144	599,003	723,051	618,144
0.375%Convertible Senior Notes Due 2025 as Liability Component [Member]
Class Of Stock [Line Items]
Equity component of notes payable, net of issuance costs & repayment	96,610				96,610
0.25% Convertible Senior Notes Due 2022 as Liability Component [Member]
Class Of Stock [Line Items]
Equity component of notes payable, net of issuance costs & repayment	613				613
Common Stock [Member]
Class Of Stock [Line Items]
Beginning Balance, Amount	$ 44	$ 44	$ 43	$ 40	$ 44	$ 40
Beginning Balance, Shares	43,366	42,955	41,891	39,300	42,955	39,300
Issuance of common stock under stock plans, net of shares withheld for employee taxes	$ 425		$ 385	$ 1
Issuance of common stock under stock plans, net of shares withheld for employee taxes, Shares		411		440
Issuance of common stock in relation to common stock offering, net of offering costs incurred $365				$ 2
Issuance of common stock in relation to common stock offering, net of offering costs incurred $365, Shares				2,151
Ending Balance, Amount	$ 46	$ 44	$ 43	$ 43	$ 46	$ 43
Ending Balance, Shares	45,386	43,366	42,276	41,891	45,386	42,276
Common Stock [Member] | 0.25% Convertible Senior Notes Due 2022 as Liability Component [Member]
Class Of Stock [Line Items]
Equity component of notes payable, net of issuance costs & repayment	$ 2				$ 2
Equity component of notes payable, net of issuance costs & repayment, Shares	1,595				1,595
Additional Paid-In Capital [Member]
Class Of Stock [Line Items]
Beginning Balance, Amount	$ 1,077,605	$ 1,048,380	$ 955,045	$ 589,708	$ 1,048,380	$ 589,708
Issuance of common stock under stock plans, net of shares withheld for employee taxes	11,701	1,320	6,595	1,161
Purchase of Capped Call Options	(50,600)
Issuance of common stock in relation to common stock offering, net of offering costs incurred $365				342,628
Stock-based compensation	31,864	27,905	29,061	21,548
Ending Balance, Amount	1,167,791	1,077,605	990,701	955,045	1,167,791	990,701
Additional Paid-In Capital [Member] | 0.375%Convertible Senior Notes Due 2025 as Liability Component [Member]
Class Of Stock [Line Items]
Equity component of notes payable, net of issuance costs & repayment	96,610				96,610
Additional Paid-In Capital [Member] | 0.25% Convertible Senior Notes Due 2022 as Liability Component [Member]
Class Of Stock [Line Items]
Equity component of notes payable, net of issuance costs & repayment	611				611
Accumulated Other Comprehensive Income (Loss) [Member]
Class Of Stock [Line Items]
Beginning Balance, Amount	(830)	(336)	(601)	(723)	(336)	(723)
Cumulative translation adjustment	1,159	(1,077)	254	(304)
Unrealized gain on investments, net of income taxes of $0, ($76), $113 and $156	132	583	588	426
Ending Balance, Amount	461	(830)	241	(601)	461	241
Accumulated Deficit [Member]
Class Of Stock [Line Items]
Beginning Balance, Amount	(415,846)	(398,130)	(355,484)	(344,384)	(398,130)	(344,384)
Net loss	(29,401)	(17,716)	(17,357)	(11,100)
Ending Balance, Amount	$ (445,247)	$ (415,846)	$ (372,841)	$ (355,484)	$ (445,247)	$ (372,841)

Changes in Stockholders' Equi_4

Changes in Stockholders' Equity - Summary of Changes in Stockholders' Equity (Parenthetical) (Detail) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019
Stockholders Equity Note [Abstract]
Offering costs incurred				$ 365
Unrealized gain (loss) on investments, tax	$ (76)	$ 0	$ 156	$ 113

Changes in Accumulated Other _3

Changes in Accumulated Other Comprehensive Loss - Changes in Accumulated Other Comprehensive Loss (Detail) $ in Thousands	6 Months Ended
	Jun. 30, 2020USD ($)
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance, Amount	$ 649,958
Other comprehensive loss before reclassifications	797
Ending Balance, Amount	723,051
Cumulative Translation Adjustment [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance, Amount	(610)
Other comprehensive loss before reclassifications	82
Ending Balance, Amount	(528)
Unrealized Gain on Investments [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance, Amount	274
Other comprehensive loss before reclassifications	715
Ending Balance, Amount	989
Accumulated Other Comprehensive Loss [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance, Amount	(336)
Ending Balance, Amount	$ 461

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		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	$ 31,374	$ 28,663	$ 58,837	$ 49,869
Common Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	1,586	1,381	3,408	2,672
RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	28,490	26,083	52,793	44,822
ESPP [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	$ 1,298	$ 1,199	$ 2,636	$ 2,375

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		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	$ 31,374	$ 28,663	$ 58,837	$ 49,869
Cost of Revenue, Subscription [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	1,075	822	1,974	1,437
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	628	666	1,234	1,685
Research and Development [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	10,111	10,553	18,819	17,644
Sales and Marketing [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	12,868	10,523	23,684	18,327
General and Administrative [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	$ 6,692	$ 6,099	$ 13,126	$ 10,776

Stock-Based Compensation Expe_5

Stock-Based Compensation Expense - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
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	$ 966	$ 607	$ 1,800	$ 1,100

Segment Information and Geogr_3

Segment Information and Geographic Data - Additional Information (Detail) - Segment	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
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	42.00%	40.00%	42.00%	39.00%

Segment Information and Geogr_4

Segment Information and Geographic Data - Revenues by Geographical Region (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Segment Reporting Information [Line Items]
Total revenues	$ 203,608	$ 163,255	$ 402,575	$ 315,053
Americas [Member]
Segment Reporting Information [Line Items]
Total revenues	133,719	111,181	264,858	215,470
Europe [Member]
Segment Reporting Information [Line Items]
Total revenues	54,558	40,283	107,229	76,959
Asia Pacific [Member]
Segment Reporting Information [Line Items]
Total revenues	$ 15,331	$ 11,791	$ 30,488	$ 22,624
Revenue [Member] | Outside Of Americas [Member] | Geographic Concentration Risk [Member]
Segment Reporting Information [Line Items]
Percentage of revenues generated outside of the Americas	34.00%	32.00%	34.00%	32.00%

Segment Information and Geogr_5

Segment Information and Geographic Data - Long Lived Assets by Geographical Region (Detail) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Segment Reporting Information [Line Items]
Total long lived assets	$ 360,455	$ 318,039
Americas [Member]
Segment Reporting Information [Line Items]
Total long lived assets	196,742	175,821
Europe [Member]
Segment Reporting Information [Line Items]
Total long lived assets	151,431	127,395
Asia Pacific [Member]
Segment Reporting Information [Line Items]
Total long lived assets	$ 12,282	$ 14,823
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	45.00%	45.00%