Workiva (WK) 10-Q 3 Nov 21 2021 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2021	Oct. 29, 2021
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2021
Document Transition Report	false
Entity File Number	001-36773
Entity Registrant Name	WORKIVA INC
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	47-2509828
Entity Address, Address Line One	2900 University Blvd
Entity Address, City or Town	Ames
Entity Address, State or Province	IA
Entity Address, Postal Zip Code	50010
City Area Code	888
Local Phone Number	275-3125
Title of 12(b) Security	Class A common stock, par value $.001
Trading Symbol	WK
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0001445305
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2021
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Class A Common Stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		45,151,293
Class B Common Stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		5,710,181

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Current assets
Cash and cash equivalents	$ 291,125	$ 322,831
Marketable securities	231,224	207,207
Accounts receivable, net of allowance for doubtful accounts of $555 and $717 at September 30, 2021 and December 31, 2020, respectively	64,099	68,922
Deferred commissions	28,021	21,923
Other receivables	3,354	3,155
Prepaid expenses and other	13,092	9,047
Total current assets	630,915	633,085
Property and equipment, net	28,490	29,365
Operating lease right-of-use assets	14,536	15,844
Deferred commissions, non-current	29,234	23,421
Goodwill	34,279	0
Intangible assets, net	8,193	1,583
Other assets	4,568	3,708
Total assets	750,215	707,006
Current liabilities
Accounts payable	4,018	2,843
Accrued expenses and other current liabilities	78,799	68,256
Deferred revenue	235,754	208,990
Convertible senior notes, current	296,341	0
Finance lease obligations	1,776	1,705
Total current liabilities	616,688	281,794
Convertible senior notes, net	0	289,490
Deferred revenue, non-current	31,463	35,894
Other long-term liabilities	1,335	1,680
Operating lease liabilities, non-current	15,231	17,209
Finance lease obligations, non-current	15,320	16,662
Total liabilities	680,037	642,729
Stockholders’ equity
Preferred stock, $0.001 par value per share, 100,000,000 shares authorized, no shares issued and outstanding	0	0
Additional paid-in-capital	508,025	478,698
Accumulated deficit	(438,106)	(414,700)
Accumulated other comprehensive income	208	230
Total stockholders’ equity	70,178	64,277
Total liabilities and stockholders’ equity	750,215	707,006
Class A Common Stock
Stockholders’ equity
Common stock	45	41
Class B Common Stock
Stockholders’ equity
Common stock	$ 6	$ 8

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Allowance for doubtful accounts	$ 555	$ 717
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	100,000,000	100,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Class A Common Stock
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, share authorized	1,000,000,000	1,000,000,000
Common stock, shares issued	45,094,257	40,719,189
Common stock, shares outstanding	45,094,257	40,719,189
Class B Common Stock
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, share authorized	500,000,000	500,000,000
Common stock, shares issued	5,710,181	8,069,610
Common stock, shares outstanding	5,710,181	8,069,610

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Revenue
Total revenue	$ 112,693	$ 88,099	$ 322,502	$ 257,760
Cost of revenue
Total cost of revenue	26,405	21,886	74,672	66,526
Gross profit	86,288	66,213	247,830	191,234
Operating expenses
Research and development	29,841	23,956	84,305	70,458
Sales and marketing	46,026	35,487	128,586	106,874
General and administrative	18,390	13,642	52,795	46,564
Total operating expenses	94,257	73,085	265,686	223,896
Loss from operations	(7,969)	(6,872)	(17,856)	(32,662)
Interest income	219	471	834	2,832
Interest expense	(3,508)	(3,500)	(10,495)	(10,467)
Other income (expense), net	3,805	(387)	3,265	263
Loss before (benefit) provision for income taxes	(7,453)	(10,288)	(24,252)	(40,034)
(Benefit) provision for income taxes	(885)	67	(846)	351
Net loss	$ (6,568)	$ (10,355)	$ (23,406)	$ (40,385)
Net loss per common share:
Basic (in dollars per share)	$ (0.13)	$ (0.21)	$ (0.46)	$ (0.84)
Diluted (in dollars per share)	$ (0.13)	$ (0.21)	$ (0.46)	$ (0.84)
Weighted-average common shares outstanding - basic	51,441,688	48,840,131	50,921,612	48,188,183
Weighted-average common shares outstanding - diluted	51,441,688	48,840,131	50,921,612	48,188,183
Subscription and support
Revenue
Total revenue	$ 98,912	$ 75,850	$ 275,053	$ 214,907
Cost of revenue
Total cost of revenue	15,606	12,013	42,906	36,264
Professional services
Revenue
Total revenue	13,781	12,249	47,449	42,853
Cost of revenue
Total cost of revenue	$ 10,799	$ 9,873	$ 31,766	$ 30,262

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Statement of Comprehensive Income [Abstract]
Net loss	$ (6,568)	$ (10,355)	$ (23,406)	$ (40,385)
Other comprehensive income (loss), net of tax
Foreign currency translation adjustment, net of tax	22	30	226	(51)
Unrealized (loss) gain on available-for-sale securities, net of tax	(18)	(211)	(248)	251
Other comprehensive income (loss), net of tax	4	(181)	(22)	200
Comprehensive loss	$ (6,564)	$ (10,536)	$ (23,428)	$ (40,185)

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock (Class A and B)	Additional Paid-in-Capital	Accumulated Other Comprehensive Income	Accumulated Deficit
Shares, Outstanding, Beginning at Dec. 31, 2019		46,639,000
Beginning of the period at Dec. 31, 2019	$ 54,202	$ 47	$ 420,170	$ 287	$ (366,302)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	9,936		9,936
Issuance of common stock upon exercise of stock options (in shares)		225,000
Issuance of common stock upon exercise of stock options	2,794		2,794
Issuance of common stock under employee stock purchase plan (in shares)		94,000
Issuance of common stock under employee stock purchase plan	3,660		3,660
Issuance of restricted stock units (in shares)		117,000
Tax withholding related to net share settlements of stock-based compensation awards (in shares)		(30,000)
Tax withholding related to net share settlements of stock-based compensation awards	(1,379)		(1,379)
Net loss	(10,418)				(10,418)
Other comprehensive income (loss)	(9)			(9)
Shares, Outstanding, Ending at Mar. 31, 2020		47,045,000
End of period at Mar. 31, 2020	58,786	$ 47	435,181	278	(376,720)
Shares, Outstanding, Beginning at Dec. 31, 2019		46,639,000
Beginning of the period at Dec. 31, 2019	54,202	$ 47	420,170	287	(366,302)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(40,385)
Other comprehensive income (loss)	200
Shares, Outstanding, Ending at Sep. 30, 2020		48,131,000
End of period at Sep. 30, 2020	68,817	$ 48	474,969	487	(406,687)
Shares, Outstanding, Beginning at Mar. 31, 2020		47,045,000
Beginning of the period at Mar. 31, 2020	58,786	$ 47	435,181	278	(376,720)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	14,894		14,894
Issuance of common stock upon exercise of stock options (in shares)		443,000
Issuance of common stock upon exercise of stock options	6,664	$ 0	6,664
Issuance of restricted stock units (in shares)		153,000
Tax withholding related to net share settlements of stock-based compensation awards (in shares)		(21,000)
Tax withholding related to net share settlements of stock-based compensation awards	(732)		(732)
Net loss	(19,612)				(19,612)
Other comprehensive income (loss)	390			390
Shares, Outstanding, Ending at Jun. 30, 2020		47,620,000
End of period at Jun. 30, 2020	60,390	$ 47	456,007	668	(396,332)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	10,601		10,601
Issuance of common stock upon exercise of stock options (in shares)		371,000
Issuance of common stock upon exercise of stock options	4,795	$ 1	4,794
Issuance of common stock under employee stock purchase plan (in shares)		93,000
Issuance of common stock under employee stock purchase plan	3,567		3,567
Issuance of restricted stock units (in shares)		47,000
Net loss	(10,355)				(10,355)
Other comprehensive income (loss)	(181)			(181)
Shares, Outstanding, Ending at Sep. 30, 2020		48,131,000
End of period at Sep. 30, 2020	68,817	$ 48	474,969	487	(406,687)
Shares, Outstanding, Beginning at Dec. 31, 2020		48,789,000
Beginning of the period at Dec. 31, 2020	64,277	$ 49	478,698	230	(414,700)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	11,623		11,623
Issuance of common stock upon exercise of stock options (in shares)		312,000
Issuance of common stock upon exercise of stock options	4,138	$ 1	4,137
Issuance of common stock under employee stock purchase plan (in shares)		93,000
Issuance of common stock under employee stock purchase plan	4,237		4,237
Issuance of restricted stock units (in shares)		803,000
Tax withholding related to net share settlements of stock-based compensation awards (in shares)		(70,000)
Tax withholding related to net share settlements of stock-based compensation awards	(7,146)		(7,146)
Net loss	(7,324)				(7,324)
Other comprehensive income (loss)	(49)			(49)
Shares, Outstanding, Ending at Mar. 31, 2021		49,927,000
End of period at Mar. 31, 2021	69,756	$ 50	491,549	181	(422,024)
Shares, Outstanding, Beginning at Dec. 31, 2020		48,789,000
Beginning of the period at Dec. 31, 2020	$ 64,277	$ 49	478,698	230	(414,700)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon exercise of stock options (in shares)	629,755
Net loss	$ (23,406)
Other comprehensive income (loss)	(22)
Shares, Outstanding, Ending at Sep. 30, 2021		50,804,000
End of period at Sep. 30, 2021	70,178	$ 51	508,025	208	(438,106)
Shares, Outstanding, Beginning at Mar. 31, 2021		49,927,000
Beginning of the period at Mar. 31, 2021	69,756	$ 50	491,549	181	(422,024)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	11,052		11,052
Issuance of common stock upon exercise of stock options (in shares)		117,000
Issuance of common stock upon exercise of stock options	1,480	$ 0	1,480
Issuance of restricted stock units (in shares)		318,000
Tax withholding related to net share settlements of stock-based compensation awards (in shares)		(8,000)
Tax withholding related to net share settlements of stock-based compensation awards	(731)		(731)
Net loss	(9,514)				(9,514)
Other comprehensive income (loss)	23			23
Shares, Outstanding, Ending at Jun. 30, 2021		50,354,000
End of period at Jun. 30, 2021	72,066	$ 50	503,350	204	(431,538)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	12,687		12,687
Issuance of common stock upon exercise of stock options (in shares)		200,000
Issuance of common stock upon exercise of stock options	3,174	$ 1	3,173
Issuance of common stock under employee stock purchase plan (in shares)		56,000
Issuance of common stock under employee stock purchase plan	4,624		4,624
Issuance of restricted stock units (in shares)		305,000
Tax withholding related to net share settlements of stock-based compensation awards (in shares)		(111,000)
Tax withholding related to net share settlements of stock-based compensation awards	(15,809)		(15,809)
Net loss	(6,568)				(6,568)
Other comprehensive income (loss)	4			4
Shares, Outstanding, Ending at Sep. 30, 2021		50,804,000
End of period at Sep. 30, 2021	$ 70,178	$ 51	$ 508,025	$ 208	$ (438,106)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Cash flows from operating activities
Net loss	$ (6,568)	$ (10,355)	$ (23,406)	$ (40,385)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	1,429	1,080	3,580	3,195
Stock-based compensation expense	12,687	10,601	35,362	35,431
Recovery of doubtful accounts	(61)	(550)	(162)	(191)
Amortization of premiums and discounts on marketable securities, net	811	106	2,199	319
Gain on settlement of equity securities	(3,698)	0	(3,698)	0
Amortization of debt discount and issuance costs	2,301	2,231	6,851	6,641
Deferred income tax	(930)	63	(914)	(68)
Changes in assets and liabilities:
Accounts receivable	2,074	(13,307)	5,233	4,805
Deferred commissions	(2,027)	(4,818)	(12,104)	(6,381)
Operating lease right-of-use asset	985	1,019	2,906	2,992
Other receivables	(628)	224	(204)	29
Prepaid expenses and other	(1,024)	(211)	(4,049)	(3,056)
Other assets	(514)	83	(1,197)	(600)
Accounts payable	478	(181)	1,214	(3,255)
Deferred revenue	9,949	16,182	22,028	11,314
Operating lease liability	(1,112)	(1,115)	(3,390)	(3,438)
Accrued expenses and other liabilities	2,161	6,822	10,327	12,538
Net cash provided by operating activities	16,313	7,874	40,576	19,890
Cash flows from investing activities
Purchase of property and equipment	(771)	(379)	(2,431)	(1,763)
Purchase of marketable securities	(48,213)	(7,980)	(143,085)	(45,269)
Sale of marketable securities	0	0	250	11,423
Maturities of marketable securities	45,579	16,300	116,371	42,337
Business combinations, net of cash acquired	(35,067)	0	(35,067)	0
Purchase of intangible assets	(64)	(102)	(187)	(253)
Other investments	0	0	(750)	0
Net cash (used in) provided by investing activities	(38,536)	7,839	(64,899)	6,475
Cash flows from financing activities
Proceeds from option exercises	3,174	4,795	8,792	14,253
Taxes paid related to net share settlements of stock-based compensation awards	(15,809)	0	(23,686)	(2,111)
Proceeds from shares issued in connection with employee stock purchase plan	4,624	3,567	8,861	7,227
Principal payments on finance lease obligations	(430)	(410)	(1,271)	(1,212)
Net cash (used in) provided by financing activities	(8,441)	7,952	(7,304)	18,157
Effect of foreign exchange rates on cash	(405)	346	(79)	(132)
Net (decrease) increase in cash and cash equivalents	(31,069)	24,011	(31,706)	44,390
Cash and cash equivalents at beginning of period	322,194	402,121	322,831	381,742
Cash and cash equivalents at end of period	291,125	426,132	291,125	426,132
Supplemental cash flow disclosure
Cash paid for interest	2,177	2,240	4,607	4,787
Cash paid for income taxes, net of refunds	36	84	(30)	469
Supplemental disclosure of noncash investing and financing activities
Allowance for tenant improvements	$ 0	$ 0	$ 0	$ 149

Organization and Significant Ac

Organization and Significant Accounting Policies	9 Months Ended
	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Significant Accounting Policies	Organization and Significant Accounting Policies Organization Workiva Inc., a Delaware corporation, and its wholly-owned subsidiaries (the “Company” or “we” or “us”) simplifies complex work for thousands of organizations worldwide. We are a leading provider of cloud-based compliance and regulatory reporting solutions that are designed to solve business challenges at the intersection of data, process and people. Our operational headquarters are located in Ames, Iowa, with additional offices located in the United States, Europe, the Asia-Pacific region and Canada. Basis of Presentation and Principles of Consolidation The financial information presented in the accompanying unaudited condensed consolidated financial statements has been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) and in accordance with rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) regarding interim financial reporting. Accordingly, the financial statements do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. The condensed consolidated balance sheet data as of December 31, 2020 was derived from audited financial statements, but does not include all disclosures required by U.S. GAAP. In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all adjustments, consisting primarily of normal recurring accruals, necessary for a fair presentation of our financial position and results of operations. The operating results for the three and nine months ended September 30, 2021 are not necessarily indicative of the results expected for the full year ending December 31, 2021. Seasonality has affected our revenue, expenses and cash flows from operations. Revenue from professional services has been higher in the first quarter as many of our customers file their Form 10-K in the first calendar quarter. Our sales and marketing expense also has some degree of seasonality. Sales and marketing expense has historically been higher in the third quarter due to our annual user conference in September. Our transition to a virtual event in September 2020 and September 2021 has mostly mitigated this trend. In addition, the timing of the payments of cash bonuses to employees during the first and fourth calendar quarters may result in some seasonality in operating cash flow. The condensed consolidated financial information should be read in conjunction with “Management’s Discussion and Analysis of Financial Condition and Results of Operations” contained in this report and the consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020 filed with the SEC on February 17, 2021. The unaudited condensed consolidated financial statements include the accounts of Workiva Inc. and its wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. Use of Estimates The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States requires us to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. We base our estimates on historical experience and various other assumptions believed to be reasonable. These estimates include, but are not limited to, the allowance for doubtful accounts, the determination of the relative selling prices of our services, the measurement of material rights, health insurance claims incurred but not yet reported, valuation of available-for-sale marketable securities, useful lives of deferred contract costs, intangible assets and property and equipment, goodwill, income taxes, discount rates used in the valuation of right-of-use assets and lease liabilities, the fair value of the liability and equity components of the convertible senior notes, and certain assumptions used in the valuation of equity awards. While these estimates are based on our best knowledge of current events and actions that may affect us in the future, actual results may differ materially from these estimates. Recently Adopted Accounting Pronouncements In December 2019, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes , which was issued to simplify the accounting for income taxes by removing certain exceptions for recognizing deferred taxes, performing intraperiod allocation, and calculating income taxes in interim periods. Further, ASU 2019-12 adds guidance to reduce complexity in certain areas, including recognizing deferred taxes for tax basis goodwill and allocating taxes to members of a consolidated group. The standard became effective for interim and annual periods beginning after December 15, 2020, with early adoption permitted. The standard provides different transition methods for the various provisions. Effective January 1, 2021, we adopted this standard. The adoption of this new standard did not have a material impact on our consolidated financial statements. New Accounting Pronouncements Not Yet Adopted In August 2020, the FASB issued ASU 2020-06, Accounting for Convertible Instruments and Contracts in an Entity's Own Equity , which simplifies the accounting for certain convertible instruments, amends guidance on derivative scope exceptions for contracts in an entity's own equity, and modifies the guidance on diluted earnings per share (“EPS”) calculations as a result of these changes. The standard will be effective for us beginning January 1, 2022 and can be applied on either a fully retrospective or modified retrospective basis. Early adoption is permitted for fiscal years beginning after December 15, 2020. We intend to adopt this standard using the modified retrospective method on January 1, 2022 and are currently evaluating its impact on our consolidated financial statements.

Supplemental Consolidated Balan

Supplemental Consolidated Balance Sheet Information	9 Months Ended
	Sep. 30, 2021
Payables and Accruals [Abstract]
Supplemental Consolidated Balance Sheet Information	Supplemental Consolidated Balance Sheet Information Accrued Expenses and Other Current Liabilities Accrued expenses and other current liabilities consisted of the following (in thousands): As of September 30, 2021 As of December 31, 2020 Accrued vacation $ 11,876 $ 10,294 Accrued commissions 6,975 12,678 Accrued bonuses 16,579 6,573 Accrued payroll 3,013 2,631 Estimated health insurance claims 1,605 1,224 Accrued interest 485 1,455 ESPP employee contributions 2,941 4,269 Customer deposits 24,592 18,283 Operating lease liabilities 4,233 4,541 Accrued other liabilities 6,500 6,308 $ 78,799 $ 68,256

Cash Equivalents and Marketable

Cash Equivalents and Marketable Securities	9 Months Ended
	Sep. 30, 2021
Investments, Debt and Equity Securities [Abstract]
Cash Equivalents and Marketable Securities	Cash Equivalents and Marketable Securities At September 30, 2021, cash equivalents and marketable securities consisted of the following (in thousands): Amortized Cost Unrealized Gains Unrealized Losses Aggregate Fair Value Money market funds $ 253,079 $ — $ — $ 253,079 Commercial paper 12,487 — — 12,487 U.S. treasury debt securities 52,755 4 (28) 52,731 Corporate debt securities 160,945 64 (41) 160,968 Foreign government debt securities 5,037 1 — 5,038 $ 484,303 $ 69 $ (69) $ 484,303 Included in cash and cash equivalents $ 253,079 $ — $ — $ 253,079 Included in marketable securities $ 231,224 $ 69 $ (69) $ 231,224 At December 31, 2020, cash equivalents and marketable securities consisted of the following (in thousands): Amortized Cost Unrealized Gains Unrealized Losses Aggregate Fair Value Money market funds $ 265,578 $ — $ — $ 265,578 Commercial paper 21,489 — — 21,489 U.S. treasury debt securities 51,731 80 (2) 51,809 Corporate debt securities 147,715 214 (47) 147,882 Foreign government debt securities 1,025 2 — 1,027 $ 487,538 $ 296 $ (49) $ 487,785 Included in cash and cash equivalents $ 280,578 $ — $ — $ 280,578 Included in marketable securities $ 206,960 $ 296 $ (49) $ 207,207 The contractual maturities of the investments classified as marketable securities are as follows (in thousands): As of September 30, 2021 Due within one year $ 134,115 Due in one to two years 95,098 Due in three to five years 2,011 $ 231,224 The following table presents gross unrealized losses and fair values for those cash equivalents and marketable securities that were in an unrealized loss position as of September 30, 2021, aggregated by investment category and the length of time that individual securities have been in a continuous loss position (in thousands): As of September 30, 2021 Less than 12 months 12 months or greater Fair Value Unrealized Loss Fair Value Unrealized Loss U.S. treasury debt securities $ 34,768 $ (28) $ — $ — Corporate debt securities 73,864 (41) — — Total $ 108,632 $ (69) $ — $ — We do not believe the unrealized losses represent credit losses based on our evaluation of available evidence as of September 30, 2021, which includes an assessment of whether it is more likely than not we will be required to sell the investment before recovery of the investment's amortized cost basis.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements We determine the fair values of our financial instruments based on the fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value assumes that the transaction to sell the asset or transfer the liability occurs in the principal or most advantageous market for the asset or liability and establishes that the fair value of an asset or liability shall be determined based on the assumptions that market participants would use in pricing the asset or liability. The classification of a financial asset or liability within the hierarchy is based upon the lowest level input that is significant to the fair value measurement. The fair value hierarchy prioritizes the inputs into three levels that may be used to measure fair value: Level 1 - Inputs are unadjusted quoted prices in active markets for identical assets or liabilities. Level 2 - Inputs are quoted prices for similar assets and liabilities in active markets or inputs that are observable for the asset or liability, either directly or indirectly through market corroboration, for substantially the full term of the financial instrument. Level 3 - Inputs are unobservable inputs based on our assumptions. Financial Assets Cash equivalents primarily consist of AAA-rated money market funds with overnight liquidity and no stated maturities. We classified cash equivalents as Level 1 due to the short-term nature of these instruments and measured the fair value based on quoted prices in active markets for identical assets. When available, our marketable securities are valued using quoted prices for identical instruments in active markets. If we are unable to value our marketable securities using quoted prices for identical instruments in active markets, we value our investments using broker reports that utilize quoted market prices for comparable instruments. We validate, on a sample basis, the derived prices provided by the brokers by comparing their assessment of the fair values of our investments against the fair values of the portfolio balances of another third-party professional pricing service. As of September 30, 2021, all of our marketable securities were valued using quoted prices for comparable instruments in active markets and are classified as Level 2. Based on our valuation of our money market funds and marketable securities, we concluded that they are classified in either Level 1 or Level 2, and we have no financial assets measured using Level 3 inputs. The following table presents information about our assets that are measured at fair value on a recurring basis using the above input categories (in thousands): Fair Value Measurements as of September 30, 2021 Fair Value Measurements as of December 31, 2020 Description Total Level 1 Level 2 Total Level 1 Level 2 Money market funds $ 253,079 $ 253,079 $ — $ 265,578 $ 265,578 $ — Commercial paper 12,487 — 12,487 21,489 — 21,489 U.S. treasury debt securities 52,731 — 52,731 51,809 — 51,809 Corporate debt securities 160,968 — 160,968 147,882 — 147,882 Foreign government debt securities 5,038 — 5,038 1,027 — 1,027 $ 484,303 $ 253,079 $ 231,224 $ 487,785 $ 265,578 $ 222,207 Included in cash and cash equivalents $ 253,079 $ 280,578 Included in marketable securities $ 231,224 $ 207,207 We completed an acquisition during the three months ended September 30, 2021. The values of the net assets acquired and the resulting goodwill were recorded at fair value using Level 3 inputs. The majority of the related current assets acquired and liabilities assumed were recorded at their carrying values as of the date of acquisition, as their carrying values approximated their fair values due to their short-term nature. The fair values of goodwill and definite-lived intangible assets acquired in the acquisition was externally estimated primarily based on the income approach. The income approach estimates fair value based on the present value of the cash flows that the assets are expected to generate in the future. We developed internal estimates for the expected cash flows and discount rates used in the present value calculations. Convertible Senior Notes As of September 30, 2021, the fair value of our convertible senior notes was $641.8 million. The fair value was determined based on the quoted price of the convertible senior notes in an over-the-counter market on the last trading day of the reporting period and has been classified as Level 2 in the fair value hierarchy. See Note 5 to the condensed consolidated financial statements for more information.

Convertible Senior Notes

Convertible Senior Notes	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Convertible Senior Notes	Convertible Senior Notes In August 2019, we issued $345.0 million aggregate principal amount of 1.125% convertible senior notes due 2026 in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended, including the exercise in full by the initial purchasers of their option to purchase an additional $45.0 million principal amount (the “Notes”). The Notes were issued pursuant to an indenture and are senior, unsecured obligations of the Company. The Notes bear interest at a fixed rate of 1.125% per annum, payable semi-annually in arrears on February 15 and August 15 of each year, commencing on February 15, 2020. Proceeds from the issuance of the Notes totaled $335.9 million, net of initial purchaser discounts and issuance costs. The initial conversion rate is 12.4756 shares of our common stock per $1,000 principal amount of Notes, which is equivalent to an initial conversion price of approximately $80.16 per share, subject to adjustment upon the occurrence of specified events. Holders of the Notes may convert all or a portion of their Notes prior to the close of business on May 15, 2026, in multiples of $1,000 principal amount, only under the following circumstances: • during any calendar quarter commencing after the calendar quarter ending on September 30, 2019 (and only during such calendar quarter), if the last reported sale price of our Class A common stock, par value $0.001 per share (which we refer to in this offering memorandum as our “Class A common stock”), for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the conversion price on each applicable trading day; • during the five consecutive business day period immediately following any ten consecutive trading day period (the “measurement period”) in which the trading price (as defined below) per $1,000 principal amount of Notes for each trading day of the measurement period was less than 98% of the product of the last reported sale price of our Class A common stock and the conversion rate on each such trading day; • if we call any or all of the Notes for redemption, at any time prior to the close of business on the scheduled trading day immediately preceding the redemption date; or • upon the occurrence of certain specified corporate events as set forth in the indenture. On or after May 16, 2026, holders of the Notes may convert their Notes at any time until the close of business on the second scheduled trading day immediately preceding the maturity date of the Notes. Upon conversion, we will pay or deliver, as the case may be, cash, shares of our Class A common stock or a combination of cash and shares of our Class A common stock, at our election, in the manner and subject to the terms and conditions provided in the indenture. It is our current intent to settle conversions through a combination settlement of cash and shares of our Class A common stock with a specified dollar amount per $1,000 principal amount of Notes of $1,000. The Company may redeem for cash all or any portion of the Notes, at its option, on or after August 21, 2023, if the last reported sale price of the Company’s common stock has been at least 130% of the conversion price then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period (including the last trading day of such period) ending on, and including, the trading day immediately preceding the date on which the Company provides notice of redemption at a redemption price equal to 100% of the principal amount of the Notes to be redeemed, plus any accrued and unpaid interest to, but excluding, the redemption date. During the third quarter of 2021 one of the conversion conditions was met and the Notes are now convertible at the option of the holders through December 31, 2021. Specifically, the last reported sale price of our Class A common stock exceeded 130% of the conversion price of the Notes for more than 20 trading days during the 30 consecutive trading days ended September 30, 2021. As a result, the Notes were classified as current liabilities on the condensed consolidated balance sheet as of September 30, 2021. As of September 30, 2021, and through the date of this filing, we have not received any conversion requests for the Notes. Interest expense representing the amortization of the debt discount and issuance costs as well as contractual interest expense is amortized to interest expense at an effective interest rate of 4.3% over the term of the Notes. As of September 30, 2021 the if-converted value of the Notes exceeded the principal amount by $261.7 million. As of September 30, 2021, the remaining life of the Notes is approximately 4.8 years. The net carrying amount of the liability and equity components of the Notes was as follows (in thousands): September 30, 2021 December 31, 2020 Liability component: Principal $ 345,000 $ 345,000 Unamortized discount (43,255) (49,346) Unamortized issuance costs (5,404) (6,164) Net carrying amount $ 296,341 $ 289,490 Equity component, net of purchase discounts and issuance costs $ 58,560 $ 58,560 Interest expense related to the Notes is as follows (in thousands): Three months ended September 30, Nine months ended September 30, 2021 2020 2021 2020 Contractual interest expense $ 970 $ 970 $ 2,911 $ 2,910 Amortization of debt discount 2,045 1,983 6,091 5,903 Amortization of issuance costs 256 248 760 738 Total interest expense $ 3,271 $ 3,201 $ 9,762 $ 9,551

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Litigation From time to time we may become involved in legal proceedings or be subject to claims arising in the ordinary course of our business. We evaluate the development of legal matters on a regular basis and accrue a liability when we believe a loss is probable and the amount can be reasonably estimated. Although the results of litigation and claims cannot be predicted with certainty, we currently believe that the final outcome of any currently pending legal proceedings to which we are a party will not have a material adverse effect on our business, operating results, financial condition or cash flows. Regardless of the outcome, litigation can have an adverse impact on us because of defense and settlement costs, diversion of management resources and other factors. Leases In July 2021, we signed an operating lease agreement to lease office space in London which commenced on October 1, 2021. The agreement has a term of three years with an optional two

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 30, 2021
Share-based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation Stock-Based Compensation Expense Stock-based compensation expense was recorded in the following cost and expense categories consistent with the respective employee or service provider’s related cash compensation (in thousands): Three months ended September 30, Nine months ended September 30, 2021 2020 2021 2020 Cost of revenue Subscription and support $ 731 $ 426 $ 1,824 $ 1,293 Professional services 407 272 1,183 1,062 Operating expenses Research and development 2,347 2,167 7,195 5,790 Sales and marketing 4,095 2,687 10,481 8,367 General and administrative 5,107 5,049 14,679 18,919 Total $ 12,687 $ 10,601 $ 35,362 $ 35,431 Stock Options The following table summarizes the option activity under the Plans for the nine months ended September 30, 2021: Options Weighted- Average Exercise Price Weighted- Average Remaining Contractual Term (Years) Outstanding at December 31, 2020 2,903,167 $ 14.48 4.7 Granted — — Forfeited (6,380) 19.25 Exercised (629,755) 13.96 Outstanding at September 30, 2021 2,267,032 $ 14.61 4.1 Exercisable at September 30, 2021 2,259,753 $ 14.59 4.1 Restricted Stock Units The following table summarizes the restricted stock unit activity under the Plan for the nine months ended September 30, 2021: Number of Shares Weighted- Average Grant Date Fair Value Unvested at December 31, 2020 2,904,616 $ 35.72 Granted 872,135 108.00 Forfeited (182,761) 63.62 Vested (1) (1,557,830) 30.63 Unvested at September 30, 2021 2,036,160 $ 68.96 (1) During the nine months ended September 30, 2021, in accordance with our Nonqualified Deferred Compensation Plan, recipients of 402,832 shares had elected to defer settlement of the vested restricted stock units and 270,567 shares were released from deferral. This resulted in total deferred units of 695,869 as of September 30, 2021. Employee Stock Purchase Plan During the nine months ended September 30, 2021, 148,864 shares of common stock were purchased under the ESPP at a weighted-average price of $59.52 per share, resulting in cash proceeds of $8.9 million.

Revenue Recognition

Revenue Recognition	9 Months Ended
	Sep. 30, 2021
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition Disaggregation of Revenue The following table presents our revenues disaggregated by industry (in thousands). Three months ended September 30, Nine months ended September 30, 2021 2020 2021 2020 Information technology $ 16,097 $ 11,983 $ 44,953 $ 34,264 Diversified financials 13,538 10,665 38,094 31,232 Consumer discretionary 12,148 9,748 34,019 28,497 Healthcare 11,860 8,772 34,003 25,517 Industrials 11,826 9,365 33,739 27,768 Banks 9,940 8,959 30,247 25,914 Insurance 7,547 5,828 22,106 17,173 Energy 6,818 5,812 20,178 17,793 Utilities 6,040 3,538 16,795 10,707 Real estate 4,608 3,769 13,727 11,810 Materials 4,570 3,824 13,040 10,735 Other 7,701 5,836 21,601 16,350 Total revenues $ 112,693 $ 88,099 $ 322,502 $ 257,760 The following table presents our revenues disaggregated by type of good or service (in thousands): Three months ended September 30, Nine months ended September 30, 2021 2020 2021 2020 Subscription and support $ 98,912 $ 75,850 $ 275,053 $ 214,907 XBRL professional services 9,003 7,798 33,558 29,543 Other services 4,778 4,451 13,891 13,310 Total revenues $ 112,693 $ 88,099 $ 322,502 $ 257,760 Deferred Revenue We recognized $91.3 million and $68.2 million of revenue during the three months ended September 30, 2021 and 2020, respectively, that was included in the deferred revenue balances at the beginning of the respective periods. We recognized $198.7 million and $148.3 million of revenue during the nine months ended September 30, 2021 and 2020, respectively, that was included in the deferred revenue balances at the beginning of the respective periods. Transaction Price Allocated to the Remaining Performance Obligations

Net Loss Per Share

Net Loss Per Share	9 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
Net Loss Per Share	Net Loss Per Share Basic net loss per share is computed by dividing the net loss by the weighted-average number of shares of common stock outstanding during the period. Diluted net loss per share is computed by giving effect to all potential shares of common stock, including convertible senior notes, outstanding stock options, stock related to unvested restricted stock units, and common stock issuable pursuant to the ESPP to the extent dilutive. Basic and diluted net loss per share was the same for each period presented, as the inclusion of all potential common shares outstanding would have been anti-dilutive. The net loss per share is allocated based on the participation rights of the Class A and Class B common shares as if the loss for the year has been distributed. As the liquidation and dividend rights are identical, the net loss is allocated on a proportionate basis. A reconciliation of the denominator used in the calculation of basic and diluted loss per share is as follows (in thousands, except share and per share data): Three months ended September 30, 2021 September 30, 2020 Class A Class B Class A Class B Numerator Net loss $ (5,731) $ (837) $ (8,566) $ (1,789) Denominator Weighted-average common shares outstanding - basic and diluted 44,886,268 6,555,420 40,400,270 8,439,861 Basic and diluted net loss per share $ (0.13) $ (0.13) $ (0.21) $ (0.21) Nine months ended September 30, 2021 September 30, 2020 Class A Class B Class A Class B Numerator Net loss $ (19,993) $ (3,413) $ (33,239) $ (7,146) Denominator Weighted-average common shares outstanding - basic and diluted 43,496,619 7,424,993 39,661,228 8,526,955 Basic and diluted net loss per share $ (0.46) $ (0.46) $ (0.84) $ (0.84) The anti-dilutive securities excluded from the weighted-average shares used to calculate the diluted net loss per common share were as follows: As of September 30, 2021 September 30, 2020 Shares subject to outstanding common stock options 2,267,032 3,265,977 Shares subject to unvested restricted stock units 2,036,160 2,974,719 Shares issuable pursuant to the ESPP 55,561 95,084

Business Combination

Business Combination	9 Months Ended
	Sep. 30, 2021
Business Combination and Asset Acquisition [Abstract]
Business Combination	Business Combination On July 30, 2021, we acquired all of the equity interest in OneCloud, Inc. (“OneCloud”), an integration platform as a service (“iPaaS”) company, in order to extend our integration and data preparation capabilities, for $35.1 million, net of cash acquired of $1.5 million. We previously held an investment in OneCloud which was accounted for as an investment in equity securities. Prior to performing purchase accounting we remeasured the previous ownership interest to fair value, increasing the value to $4.7 million, which resulted in a gain of $3.7 million recorded in other income (expense), net in the condensed consolidated statement of operations. The purchase price has been preliminarily allocated to the assets acquired and liabilities assumed based on their estimated fair values at the date of acquisition. The excess of the purchase price over the fair value of the net assets acquired was allocated to goodwill. The goodwill recognized was primarily attributable to the assembled workforce and strategic benefits that are expected to be achieved and is not deductible for income tax purposes. The following table presents a preliminary allocation of the purchase price to the assets acquired and liabilities assumed at the date of acquisition (in thousands) : Cash consideration $ 36,564 Previously held equity interest 4,698 Total consideration $ 41,262 Cash $ 1,497 Intangible assets 7,000 Goodwill 34,279 Other assets 548 Deferred revenue (900) Deferred tax liability (988) Other liabilities (174) Fair value of assets and liabilities $ 41,262 We incurred costs related to the acquisition of approximately $0.4 million during the nine months ended September 30, 2021. All acquisition related costs were expensed as incurred and have been recorded in general and administrative expenses in our condensed consolidated statements of operations. The amount of revenues and net loss from the acquisition included in our condensed consolidated statements of operations for the three and nine months ended September 30, 2021 were insignificant.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	9 Months Ended
	Sep. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets Goodwill represents the cost in excess of the fair value of the net assets acquired in a business combination. Goodwill is tested for impairment at the reporting unit level on an annual basis and on an interim basis if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying value. We perform our annual goodwill impairment test as of October 1. As of September 30, 2021, no impairment charges have been recorded. The changes in the carrying amount of goodwill were as follows (in thousands): December 31, 2020 $ — Acquisition 34,279 September 30, 2021 $ 34,279 Intangible assets consist of patents and intangible assets acquired in a business combination, primarily technology, customer relationships and a trade name. Patents are recorded at cost to obtain and amortized over the useful lives. Intangible assets acquired in a business combination are recorded at fair value on the date of acquisition and amortized over their estimated useful lives. The following table presents the components of net intangible assets (in thousands): As of September 30, 2021 As of December 31, 2020 Weighted Average Useful Life (Years) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Acquired technology 4 $ 6,600 $ (275) $ 6,325 $ — $ — $ — Acquired customer relationships 10 300 (5) 295 — — — Acquired trade name 2 100 (8) 92 — — — Patents 10 2,708 (1,227) 1,481 2,538 (955) 1,583 Total $ 9,708 $ (1,515) $ 8,193 $ 2,538 $ (955) $ 1,583 Amortization expense related to intangible assets was $0.4 million and $0.1 million for the three months ended September 30, 2021 and 2020, respectively, and $0.6 million and $0.3 million for the nine months ended September 30, 2021 and 2020, respectively. As of September 30, 2021, expected remaining amortization expense of intangible assets by fiscal year is as follows (in thousands): Three months ended December 31, 2021 $ 541 2022 2,021 2023 1,910 2024 1,867 2025 1,154 2026 160 Thereafter 540 Total expected amortization expense $ 8,193

Organization and Significant _2

Organization and Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	The financial information presented in the accompanying unaudited condensed consolidated financial statements has been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) and in accordance with rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) regarding interim financial reporting. Accordingly, the financial statements do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. The condensed consolidated balance sheet data as of December 31, 2020 was derived from audited financial statements, but does not include all disclosures required by U.S. GAAP. In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all adjustments, consisting primarily of normal recurring accruals, necessary for a fair presentation of our financial position and results of operations. The operating results for the three and nine months ended September 30, 2021 are not necessarily indicative of the results expected for the full year ending December 31, 2021.
Principles of Consolidation	All intercompany accounts and transactions have been eliminated in consolidation.
Use of Estimates	The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States requires us to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. We base our estimates on historical experience and various other assumptions believed to be reasonable. These estimates include, but are not limited to, the allowance for doubtful accounts, the determination of the relative selling prices of our services, the measurement of material rights, health insurance claims incurred but not yet reported, valuation of available-for-sale marketable securities, useful lives of deferred contract costs, intangible assets and property and equipment, goodwill, income taxes, discount rates used in the valuation of right-of-use assets and lease liabilities, the fair value of the liability and equity components of the convertible senior notes, and certain assumptions used in the valuation of equity awards. While these estimates are based on our best knowledge of current events and actions that may affect us in the future, actual results may differ materially from these estimates.
Recently Adopted Accounting Pronouncements and New Accounting Pronouncements Not Yet Adopted	In December 2019, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes , which was issued to simplify the accounting for income taxes by removing certain exceptions for recognizing deferred taxes, performing intraperiod allocation, and calculating income taxes in interim periods. Further, ASU 2019-12 adds guidance to reduce complexity in certain areas, including recognizing deferred taxes for tax basis goodwill and allocating taxes to members of a consolidated group. The standard became effective for interim and annual periods beginning after December 15, 2020, with early adoption permitted. The standard provides different transition methods for the various provisions. Effective January 1, 2021, we adopted this standard. The adoption of this new standard did not have a material impact on our consolidated financial statements. In August 2020, the FASB issued ASU 2020-06, Accounting for Convertible Instruments and Contracts in an Entity's Own Equity , which simplifies the accounting for certain convertible instruments, amends guidance on derivative scope exceptions for contracts in an entity's own equity, and modifies the guidance on diluted earnings per share (“EPS”) calculations as a result of these changes. The standard will be effective for us beginning January 1, 2022 and can be applied on either a fully retrospective or modified retrospective basis. Early adoption is permitted for fiscal years beginning after December 15, 2020. We intend to adopt this standard using the modified retrospective method on January 1, 2022 and are currently evaluating its impact on our consolidated financial statements.
Fair Value of Financial Instruments	Cash equivalents primarily consist of AAA-rated money market funds with overnight liquidity and no stated maturities. We classified cash equivalents as Level 1 due to the short-term nature of these instruments and measured the fair value based on quoted prices in active markets for identical assets. When available, our marketable securities are valued using quoted prices for identical instruments in active markets. If we are unable to value our marketable securities using quoted prices for identical instruments in active markets, we value our investments using broker reports that utilize quoted market prices for comparable instruments. We validate, on a sample basis, the derived prices provided by the brokers by comparing their assessment of the fair values of our investments against the fair values of the portfolio balances of another third-party professional pricing service.
Goodwill Impairment	Goodwill represents the cost in excess of the fair value of the net assets acquired in a business combination. Goodwill is tested for impairment at the reporting unit level on an annual basis and on an interim basis if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying value. We perform our annual goodwill impairment test as of October 1.

Supplemental Consolidated Bal_2

Supplemental Consolidated Balance Sheet Information (Tables)	9 Months Ended
	Sep. 30, 2021
Payables and Accruals [Abstract]
Schedule of Accrued Expenses and Other Current Liabilities	Accrued expenses and other current liabilities consisted of the following (in thousands): As of September 30, 2021 As of December 31, 2020 Accrued vacation $ 11,876 $ 10,294 Accrued commissions 6,975 12,678 Accrued bonuses 16,579 6,573 Accrued payroll 3,013 2,631 Estimated health insurance claims 1,605 1,224 Accrued interest 485 1,455 ESPP employee contributions 2,941 4,269 Customer deposits 24,592 18,283 Operating lease liabilities 4,233 4,541 Accrued other liabilities 6,500 6,308 $ 78,799 $ 68,256

Cash Equivalents and Marketab_2

Cash Equivalents and Marketable Securities (Tables)	9 Months Ended
	Sep. 30, 2021
Investments, Debt and Equity Securities [Abstract]
Schedule of Marketable Securities	At September 30, 2021, cash equivalents and marketable securities consisted of the following (in thousands): Amortized Cost Unrealized Gains Unrealized Losses Aggregate Fair Value Money market funds $ 253,079 $ — $ — $ 253,079 Commercial paper 12,487 — — 12,487 U.S. treasury debt securities 52,755 4 (28) 52,731 Corporate debt securities 160,945 64 (41) 160,968 Foreign government debt securities 5,037 1 — 5,038 $ 484,303 $ 69 $ (69) $ 484,303 Included in cash and cash equivalents $ 253,079 $ — $ — $ 253,079 Included in marketable securities $ 231,224 $ 69 $ (69) $ 231,224 At December 31, 2020, cash equivalents and marketable securities consisted of the following (in thousands): Amortized Cost Unrealized Gains Unrealized Losses Aggregate Fair Value Money market funds $ 265,578 $ — $ — $ 265,578 Commercial paper 21,489 — — 21,489 U.S. treasury debt securities 51,731 80 (2) 51,809 Corporate debt securities 147,715 214 (47) 147,882 Foreign government debt securities 1,025 2 — 1,027 $ 487,538 $ 296 $ (49) $ 487,785 Included in cash and cash equivalents $ 280,578 $ — $ — $ 280,578 Included in marketable securities $ 206,960 $ 296 $ (49) $ 207,207
Schedule of Cash and Cash Equivalents	At September 30, 2021, cash equivalents and marketable securities consisted of the following (in thousands): Amortized Cost Unrealized Gains Unrealized Losses Aggregate Fair Value Money market funds $ 253,079 $ — $ — $ 253,079 Commercial paper 12,487 — — 12,487 U.S. treasury debt securities 52,755 4 (28) 52,731 Corporate debt securities 160,945 64 (41) 160,968 Foreign government debt securities 5,037 1 — 5,038 $ 484,303 $ 69 $ (69) $ 484,303 Included in cash and cash equivalents $ 253,079 $ — $ — $ 253,079 Included in marketable securities $ 231,224 $ 69 $ (69) $ 231,224 At December 31, 2020, cash equivalents and marketable securities consisted of the following (in thousands): Amortized Cost Unrealized Gains Unrealized Losses Aggregate Fair Value Money market funds $ 265,578 $ — $ — $ 265,578 Commercial paper 21,489 — — 21,489 U.S. treasury debt securities 51,731 80 (2) 51,809 Corporate debt securities 147,715 214 (47) 147,882 Foreign government debt securities 1,025 2 — 1,027 $ 487,538 $ 296 $ (49) $ 487,785 Included in cash and cash equivalents $ 280,578 $ — $ — $ 280,578 Included in marketable securities $ 206,960 $ 296 $ (49) $ 207,207
Summary of Investments Classified by Contractual Maturity Date	The contractual maturities of the investments classified as marketable securities are as follows (in thousands): As of September 30, 2021 Due within one year $ 134,115 Due in one to two years 95,098 Due in three to five years 2,011 $ 231,224
Schedule of Available-for-sale Securities, Continuous Unrealized Loss Position	The following table presents gross unrealized losses and fair values for those cash equivalents and marketable securities that were in an unrealized loss position as of September 30, 2021, aggregated by investment category and the length of time that individual securities have been in a continuous loss position (in thousands): As of September 30, 2021 Less than 12 months 12 months or greater Fair Value Unrealized Loss Fair Value Unrealized Loss U.S. treasury debt securities $ 34,768 $ (28) $ — $ — Corporate debt securities 73,864 (41) — — Total $ 108,632 $ (69) $ — $ —

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Schedule of Assets Measured on Recurring Basis	The following table presents information about our assets that are measured at fair value on a recurring basis using the above input categories (in thousands): Fair Value Measurements as of September 30, 2021 Fair Value Measurements as of December 31, 2020 Description Total Level 1 Level 2 Total Level 1 Level 2 Money market funds $ 253,079 $ 253,079 $ — $ 265,578 $ 265,578 $ — Commercial paper 12,487 — 12,487 21,489 — 21,489 U.S. treasury debt securities 52,731 — 52,731 51,809 — 51,809 Corporate debt securities 160,968 — 160,968 147,882 — 147,882 Foreign government debt securities 5,038 — 5,038 1,027 — 1,027 $ 484,303 $ 253,079 $ 231,224 $ 487,785 $ 265,578 $ 222,207 Included in cash and cash equivalents $ 253,079 $ 280,578 Included in marketable securities $ 231,224 $ 207,207

Convertible Senior Notes (Table

Convertible Senior Notes (Tables)	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Summary of Convertible Debt	The net carrying amount of the liability and equity components of the Notes was as follows (in thousands): September 30, 2021 December 31, 2020 Liability component: Principal $ 345,000 $ 345,000 Unamortized discount (43,255) (49,346) Unamortized issuance costs (5,404) (6,164) Net carrying amount $ 296,341 $ 289,490 Equity component, net of purchase discounts and issuance costs $ 58,560 $ 58,560 Interest expense related to the Notes is as follows (in thousands): Three months ended September 30, Nine months ended September 30, 2021 2020 2021 2020 Contractual interest expense $ 970 $ 970 $ 2,911 $ 2,910 Amortization of debt discount 2,045 1,983 6,091 5,903 Amortization of issuance costs 256 248 760 738 Total interest expense $ 3,271 $ 3,201 $ 9,762 $ 9,551

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2021
Share-based Payment Arrangement [Abstract]
Schedule of Stock-based Compensation Expense	Stock-based compensation expense was recorded in the following cost and expense categories consistent with the respective employee or service provider’s related cash compensation (in thousands): Three months ended September 30, Nine months ended September 30, 2021 2020 2021 2020 Cost of revenue Subscription and support $ 731 $ 426 $ 1,824 $ 1,293 Professional services 407 272 1,183 1,062 Operating expenses Research and development 2,347 2,167 7,195 5,790 Sales and marketing 4,095 2,687 10,481 8,367 General and administrative 5,107 5,049 14,679 18,919 Total $ 12,687 $ 10,601 $ 35,362 $ 35,431
Schedule of Stock-Option Activity	The following table summarizes the option activity under the Plans for the nine months ended September 30, 2021: Options Weighted- Average Exercise Price Weighted- Average Remaining Contractual Term (Years) Outstanding at December 31, 2020 2,903,167 $ 14.48 4.7 Granted — — Forfeited (6,380) 19.25 Exercised (629,755) 13.96 Outstanding at September 30, 2021 2,267,032 $ 14.61 4.1 Exercisable at September 30, 2021 2,259,753 $ 14.59 4.1
Summary of Restricted Stock Units	The following table summarizes the restricted stock unit activity under the Plan for the nine months ended September 30, 2021: Number of Shares Weighted- Average Grant Date Fair Value Unvested at December 31, 2020 2,904,616 $ 35.72 Granted 872,135 108.00 Forfeited (182,761) 63.62 Vested (1) (1,557,830) 30.63 Unvested at September 30, 2021 2,036,160 $ 68.96

Revenue Recognition (Tables)

Revenue Recognition (Tables)	9 Months Ended
	Sep. 30, 2021
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following table presents our revenues disaggregated by industry (in thousands). Three months ended September 30, Nine months ended September 30, 2021 2020 2021 2020 Information technology $ 16,097 $ 11,983 $ 44,953 $ 34,264 Diversified financials 13,538 10,665 38,094 31,232 Consumer discretionary 12,148 9,748 34,019 28,497 Healthcare 11,860 8,772 34,003 25,517 Industrials 11,826 9,365 33,739 27,768 Banks 9,940 8,959 30,247 25,914 Insurance 7,547 5,828 22,106 17,173 Energy 6,818 5,812 20,178 17,793 Utilities 6,040 3,538 16,795 10,707 Real estate 4,608 3,769 13,727 11,810 Materials 4,570 3,824 13,040 10,735 Other 7,701 5,836 21,601 16,350 Total revenues $ 112,693 $ 88,099 $ 322,502 $ 257,760 The following table presents our revenues disaggregated by type of good or service (in thousands): Three months ended September 30, Nine months ended September 30, 2021 2020 2021 2020 Subscription and support $ 98,912 $ 75,850 $ 275,053 $ 214,907 XBRL professional services 9,003 7,798 33,558 29,543 Other services 4,778 4,451 13,891 13,310 Total revenues $ 112,693 $ 88,099 $ 322,502 $ 257,760

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	9 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	A reconciliation of the denominator used in the calculation of basic and diluted loss per share is as follows (in thousands, except share and per share data): Three months ended September 30, 2021 September 30, 2020 Class A Class B Class A Class B Numerator Net loss $ (5,731) $ (837) $ (8,566) $ (1,789) Denominator Weighted-average common shares outstanding - basic and diluted 44,886,268 6,555,420 40,400,270 8,439,861 Basic and diluted net loss per share $ (0.13) $ (0.13) $ (0.21) $ (0.21) Nine months ended September 30, 2021 September 30, 2020 Class A Class B Class A Class B Numerator Net loss $ (19,993) $ (3,413) $ (33,239) $ (7,146) Denominator Weighted-average common shares outstanding - basic and diluted 43,496,619 7,424,993 39,661,228 8,526,955 Basic and diluted net loss per share $ (0.46) $ (0.46) $ (0.84) $ (0.84)
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The anti-dilutive securities excluded from the weighted-average shares used to calculate the diluted net loss per common share were as follows: As of September 30, 2021 September 30, 2020 Shares subject to outstanding common stock options 2,267,032 3,265,977 Shares subject to unvested restricted stock units 2,036,160 2,974,719 Shares issuable pursuant to the ESPP 55,561 95,084

Business Combination (Tables)

Business Combination (Tables)	9 Months Ended
	Sep. 30, 2021
Business Combination and Asset Acquisition [Abstract]
Schedule of Assets Acquired and Liabilities Assumed	The following table presents a preliminary allocation of the purchase price to the assets acquired and liabilities assumed at the date of acquisition (in thousands) : Cash consideration $ 36,564 Previously held equity interest 4,698 Total consideration $ 41,262 Cash $ 1,497 Intangible assets 7,000 Goodwill 34,279 Other assets 548 Deferred revenue (900) Deferred tax liability (988) Other liabilities (174) Fair value of assets and liabilities $ 41,262

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Goodwill	The changes in the carrying amount of goodwill were as follows (in thousands): December 31, 2020 $ — Acquisition 34,279 September 30, 2021 $ 34,279
Summary of Intangible Assets	The following table presents the components of net intangible assets (in thousands): As of September 30, 2021 As of December 31, 2020 Weighted Average Useful Life (Years) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Acquired technology 4 $ 6,600 $ (275) $ 6,325 $ — $ — $ — Acquired customer relationships 10 300 (5) 295 — — — Acquired trade name 2 100 (8) 92 — — — Patents 10 2,708 (1,227) 1,481 2,538 (955) 1,583 Total $ 9,708 $ (1,515) $ 8,193 $ 2,538 $ (955) $ 1,583
Schedule of Expected Amortization Expense of Intangible Assets	As of September 30, 2021, expected remaining amortization expense of intangible assets by fiscal year is as follows (in thousands): Three months ended December 31, 2021 $ 541 2022 2,021 2023 1,910 2024 1,867 2025 1,154 2026 160 Thereafter 540 Total expected amortization expense $ 8,193

Supplemental Consolidated Bal_3

Supplemental Consolidated Balance Sheet Information - Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Accrued Liabilities and Other Liabilities [Abstract]
Accrued vacation	$ 11,876	$ 10,294
Accrued commissions	6,975	12,678
Accrued bonuses	16,579	6,573
Accrued payroll	3,013	2,631
Estimated health insurance claims	1,605	1,224
Accrued interest	485	1,455
ESPP employee contributions	2,941	4,269
Customer deposits	24,592	18,283
Operating lease liabilities	4,233	4,541
Accrued other liabilities	6,500	6,308
Accrued expenses and other current liabilities	$ 78,799	$ 68,256

Cash Equivalents and Marketab_3

Cash Equivalents and Marketable Securities - Schedule of Marketable Securities (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	$ 291,125	$ 322,831
Debt Securities, Available-for-sale [Line Items]
Unrealized Gains	69	296
Unrealized Losses	(69)	(49)
Aggregate Fair Value	231,224
Cash and cash equivalents and available-for-sale securities, amortized cost	484,303	487,538
Cash, cash equivalents, and available-for-sale securities	484,303	487,785
Commercial paper
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	12,487	21,489
Unrealized Gains	0	0
Unrealized Losses	0	0
Aggregate Fair Value	12,487	21,489
U.S. treasury debt securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	52,755	51,731
Unrealized Gains	4	80
Unrealized Losses	(28)	(2)
Aggregate Fair Value	52,731	51,809
Corporate debt securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	160,945	147,715
Unrealized Gains	64	214
Unrealized Losses	(41)	(47)
Aggregate Fair Value	160,968	147,882
Foreign government debt securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	5,037	1,025
Unrealized Gains	1	2
Unrealized Losses	0	0
Aggregate Fair Value	5,038	1,027
Money market funds
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	253,079	265,578
Cash and cash equivalents, aggregate fair value	253,079	265,578
Cash and cash equivalents
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	253,079	280,578
Cash and cash equivalents, aggregate fair value	253,079	280,578
Marketable securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	231,224	206,960
Unrealized Gains	69	296
Unrealized Losses	(69)	(49)
Aggregate Fair Value	$ 231,224	$ 207,207

Cash Equivalents and Marketab_4

Cash Equivalents and Marketable Securities - Schedule of Contractual Maturities (Details) $ in Thousands	Sep. 30, 2021USD ($)
Investments, Debt and Equity Securities [Abstract]
Due within one year	$ 134,115
Due in one to two years	95,098
Due in three to five years	2,011
Marketable securities	$ 231,224

Cash Equivalents and Marketab_5

Cash Equivalents and Marketable Securities - Continuous Unrealized Loss Position (Details) $ in Thousands	Sep. 30, 2021USD ($)
Fair Value
Less than 12 months	$ 108,632
12 months or greater	0
Unrealized Loss
Less than 12 months	(69)
12 months or greater	0
U.S. treasury debt securities
Fair Value
Less than 12 months	34,768
12 months or greater	0
Unrealized Loss
Less than 12 months	(28)
12 months or greater	0
Corporate debt securities
Fair Value
Less than 12 months	73,864
12 months or greater	0
Unrealized Loss
Less than 12 months	(41)
12 months or greater	$ 0

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	$ 231,224
Cash and cash equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents - money market funds	253,079	$ 280,578
Marketable securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	231,224	207,207
Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	12,487	21,489
U.S. treasury debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	52,731	51,809
Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	160,968	147,882
Foreign government debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	5,038	1,027
Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents - money market funds	253,079	265,578
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of convertible debt	641,800
Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	484,303	487,785
Recurring | Cash and cash equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents - money market funds	253,079	280,578
Recurring | Marketable securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	231,224	207,207
Recurring | Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	12,487	21,489
Recurring | U.S. treasury debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	52,731	51,809
Recurring | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	160,968	147,882
Recurring | Foreign government debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	5,038	1,027
Recurring | Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents - money market funds	253,079	265,578
Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	253,079	265,578
Recurring | Level 1 | Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Recurring | Level 1 | U.S. treasury debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Recurring | Level 1 | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Recurring | Level 1 | Foreign government debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Recurring | Level 1 | Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents - money market funds	253,079	265,578
Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	231,224	222,207
Recurring | Level 2 | Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	12,487	21,489
Recurring | Level 2 | U.S. treasury debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	52,731	51,809
Recurring | Level 2 | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	160,968	147,882
Recurring | Level 2 | Foreign government debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	5,038	1,027
Recurring | Level 2 | Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents - money market funds	$ 0	$ 0

Convertible Senior Notes (Detai

Convertible Senior Notes (Details)	1 Months Ended	9 Months Ended
	Aug. 31, 2019USD ($)day$ / shares	Sep. 30, 2021USD ($)$ / shares	Dec. 31, 2020$ / shares
Class A Common Stock
Debt Instrument [Line Items]
Common stock, par value (in dollars per share) | $ / shares	$ 0.001	$ 0.001	$ 0.001
Convertible debt | 1.125% Convertible Senior Notes Due 2026
Debt Instrument [Line Items]
Face amount of debt issued | $	$ 345,000,000
Stated interest percentage	1.125%
Proceeds from the issuance of convertible senior notes, net of issuance costs | $	$ 335,900,000
Conversion ratio	0.0124756
Conversion price (in dollars per share) | $ / shares	$ 80.16
Threshold number of trading days (day)	20
Threshold number of consecutive trading days (day)	30
Threshold percentage of stock price trigger	130.00%
Redemption price, percentage	100.00%
Effective interest percentage	4.30%
If-converted value in excess of principal | $		$ 261,700,000
Remaining life of debt instrument		4 years 9 months 18 days
Convertible debt | 1.125% Convertible Senior Notes Due 2026 | Debt Conversion Terms, One
Debt Instrument [Line Items]
Threshold number of trading days (day)	20
Threshold number of consecutive trading days (day)	30
Threshold percentage of stock price trigger	130.00%
Convertible debt | 1.125% Convertible Senior Notes Due 2026 | Debt Conversion Terms, Two
Debt Instrument [Line Items]
Threshold number of trading days (day)	5
Threshold number of consecutive trading days (day)	10
Threshold percentage of stock trading price	98.00%
Convertible debt | Over-allotment option
Debt Instrument [Line Items]
Face amount of debt issued | $	$ 45,000,000

Convertible Senior Notes - Summ

Convertible Senior Notes - Summary of Convertible Debt (Details) - 1.125% Convertible Senior Notes Due 2026 - Convertible debt - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Principal	$ 345,000	$ 345,000
Unamortized discount	(43,255)	(49,346)
Unamortized issuance costs	(5,404)	(6,164)
Net carrying amount	296,341	289,490
Equity component, net of purchase discounts and issuance costs	$ 58,560	$ 58,560

Convertible Senior Notes - Su_2

Convertible Senior Notes - Summary of Interest Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Debt Disclosure [Abstract]
Contractual interest expense	$ 970	$ 970	$ 2,911	$ 2,910
Amortization of debt discount	2,045	1,983	6,091	5,903
Amortization of issuance costs	256	248	760	738
Total interest expense	$ 3,271	$ 3,201	$ 9,762	$ 9,551

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	Jul. 31, 2021USD ($)
Commitments and Contingencies Disclosure [Abstract]
Operating lease, term of contract	3 years
Renewal term	2 years
Operating lease annual base rent expense	$ 1.6

Stock-Based Compensation - Expe

Stock-Based Compensation - Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based compensation expense	$ 12,687	$ 10,601	$ 35,362	$ 35,431
Research and development
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based compensation expense	2,347	2,167	7,195	5,790
Sales and marketing
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based compensation expense	4,095	2,687	10,481	8,367
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based compensation expense	5,107	5,049	14,679	18,919
Subscription and support | Cost of revenue
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based compensation expense	731	426	1,824	1,293
Professional services | Cost of revenue
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based compensation expense	$ 407	$ 272	$ 1,183	$ 1,062

Stock-Based Compensation - Stoc

Stock-Based Compensation - Stock Options (Details)	9 Months Ended	12 Months Ended
	Sep. 30, 2021$ / sharesshares	Dec. 31, 2020$ / sharesshares
Options (in shares):
Outstanding beginning of the period (in shares) | shares	2,903,167
Granted (in shares) | shares	0
Forfeited (in shares) | shares	(6,380)
Exercised (in shares) | shares	(629,755)
Outstanding end of the period (in shares) | shares	2,267,032	2,903,167
Exercisable (in shares) | shares	2,259,753
Weighted-Average Exercise Price (in dollars per share):
Outstanding beginning of the period (in dollars per share) | $ / shares	$ 14.48
Granted (in dollars per share) | $ / shares	0
Forfeited (in dollars per share) | $ / shares	19.25
Exercised (in dollars per share) | $ / shares	13.96
Outstanding end of the period (in dollars per share) | $ / shares	14.61	$ 14.48
Exercisable (in dollars per share) | $ / shares	$ 14.59
Outstanding, weighted-average remaining contractual term (years)	4 years 1 month 6 days	4 years 8 months 12 days
Exercisable, weighted-average remaining contractual term (years)	4 years 1 month 6 days

Stock-Based Compensation - Rest

Stock-Based Compensation - Restricted Stock Units (Details) - Restricted stock units	9 Months Ended
	Sep. 30, 2021$ / sharesshares
Number of Shares (in shares)
Unvested at beginning of period (in shares)	2,904,616
Granted (in shares)	872,135
Forfeited (in shares)	(182,761)
Vested (in shares)	(1,557,830)
Unvested at end of period (in shares)	2,036,160
Weighted- Average Grant Date Fair Value (in dollars per share)
Unvested at beginning of period (in dollars per share) | $ / shares	$ 35.72
Granted (in dollars per share) | $ / shares	108
Forfeited (in dollars per share) | $ / shares	63.62
Vested (in dollars per share) | $ / shares	30.63
Unvested at end of period (in dollars per share) | $ / shares	$ 68.96
Number of vested shares recipient elected to defer settlement (in shares)	402,832
Number of vested shares recipients elected to defer settlement, released during period (in shares)	270,567
Number of deferred shares vested and outstanding (in shares)	695,869

Stock-Based Compensation - Empl

Stock-Based Compensation - Employee Stock Purchase Plan (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Proceeds from shares issued in connection with employee stock purchase plan	$ 4,624	$ 3,567	$ 8,861	$ 7,227
Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense	$ 1,000		$ 1,000
Unrecognized compensation expense, period for recognition (years)			3 months 18 days
Class A Common Stock | Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued during period (in shares)			148,864
Shares issued during period, weighted average price per share (in dollars per share)			$ 59.52
Proceeds from shares issued in connection with employee stock purchase plan			$ 8,900

Revenue Recognition - Disaggreg

Revenue Recognition - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Disaggregation of Revenue [Line Items]
Total revenue	$ 112,693	$ 88,099	$ 322,502	$ 257,760
Subscription and support
Disaggregation of Revenue [Line Items]
Total revenue	98,912	75,850	275,053	214,907
XBRL professional services
Disaggregation of Revenue [Line Items]
Total revenue	9,003	7,798	33,558	29,543
Other services
Disaggregation of Revenue [Line Items]
Total revenue	4,778	4,451	13,891	13,310
Information technology
Disaggregation of Revenue [Line Items]
Total revenue	16,097	11,983	44,953	34,264
Diversified financials
Disaggregation of Revenue [Line Items]
Total revenue	13,538	10,665	38,094	31,232
Consumer discretionary
Disaggregation of Revenue [Line Items]
Total revenue	12,148	9,748	34,019	28,497
Healthcare
Disaggregation of Revenue [Line Items]
Total revenue	11,860	8,772	34,003	25,517
Industrials
Disaggregation of Revenue [Line Items]
Total revenue	11,826	9,365	33,739	27,768
Banks
Disaggregation of Revenue [Line Items]
Total revenue	9,940	8,959	30,247	25,914
Insurance
Disaggregation of Revenue [Line Items]
Total revenue	7,547	5,828	22,106	17,173
Energy
Disaggregation of Revenue [Line Items]
Total revenue	6,818	5,812	20,178	17,793
Utilities
Disaggregation of Revenue [Line Items]
Total revenue	6,040	3,538	16,795	10,707
Real estate
Disaggregation of Revenue [Line Items]
Total revenue	4,608	3,769	13,727	11,810
Materials
Disaggregation of Revenue [Line Items]
Total revenue	4,570	3,824	13,040	10,735
Other
Disaggregation of Revenue [Line Items]
Total revenue	$ 7,701	$ 5,836	$ 21,601	$ 16,350

Revenue Recognition - Deferred

Revenue Recognition - Deferred Revenue and Transaction Price Allocated to the Remaining Performance Obligations (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Revenue from Contract with Customer [Abstract]
Deferred revenue recognized	$ 91.3	$ 68.2	$ 198.7	$ 148.3
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue expected to be recognized	518.5		518.5
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue expected to be recognized	$ 305.2		$ 305.2
Expected period of recognition	12 months		12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Expected period of recognition	24 months		24 months

Net Loss Per Share - Earnings P

Net Loss Per Share - Earnings Per Share Basic and Diluted (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Denominator
Weighted-average common shares outstanding - basic	51,441,688	48,840,131	50,921,612	48,188,183
Weighted-average common shares outstanding - diluted	51,441,688	48,840,131	50,921,612	48,188,183
Basic net loss per share (in dollars per share)	$ (0.13)	$ (0.21)	$ (0.46)	$ (0.84)
Diluted net loss per share (in dollars per share)	$ (0.13)	$ (0.21)	$ (0.46)	$ (0.84)
Class A Common Stock
Numerator
Net loss, basic	$ (5,731)	$ (8,566)	$ (19,993)	$ (33,239)
Net loss, diluted	$ (5,731)	$ (8,566)	$ (19,993)	$ (33,239)
Denominator
Weighted-average common shares outstanding - basic	44,886,268	40,400,270	43,496,619	39,661,228
Weighted-average common shares outstanding - diluted	44,886,268	40,400,270	43,496,619	39,661,228
Basic net loss per share (in dollars per share)	$ (0.13)	$ (0.21)	$ (0.46)	$ (0.84)
Diluted net loss per share (in dollars per share)	$ (0.13)	$ (0.21)	$ (0.46)	$ (0.84)
Class B Common Stock
Numerator
Net loss, basic	$ (837)	$ (1,789)	$ (3,413)	$ (7,146)
Net loss, diluted	$ (837)	$ (1,789)	$ (3,413)	$ (7,146)
Denominator
Weighted-average common shares outstanding - basic	6,555,420	8,439,861	7,424,993	8,526,955
Weighted-average common shares outstanding - diluted	6,555,420	8,439,861	7,424,993	8,526,955
Basic net loss per share (in dollars per share)	$ (0.13)	$ (0.21)	$ (0.46)	$ (0.84)
Diluted net loss per share (in dollars per share)	$ (0.13)	$ (0.21)	$ (0.46)	$ (0.84)

Net Loss Per Share - Antidiluti

Net Loss Per Share - Antidilutive Securities Excluded from Computation of Earnings Per Share (Details) - shares	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Shares subject to outstanding common stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	2,267,032	3,265,977
Shares subject to unvested restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	2,036,160	2,974,719
Shares issuable pursuant to the ESPP
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	55,561	95,084
Convertible Debt Securities
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	4,300,000	4,300,000

Business Combination (Details)

Business Combination (Details) - USD ($) $ in Thousands	Jul. 30, 2021	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Business Acquisition [Line Items]
Payments to acquire business, net of cash acquired		$ 35,067	$ 0	$ 35,067	$ 0
Equity securities	$ 4,700
Gain on equity securities	3,700	$ 3,698	$ 0	3,698	$ 0
OneCloud, Inc.
Business Acquisition [Line Items]
Payments to acquire business, net of cash acquired	35,100
Cash acquired from acquisition	$ 1,500
Acquisition related costs				$ 400

Business Combination - Assets A

Business Combination - Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Jul. 30, 2021	Sep. 30, 2021	Dec. 31, 2020
Business Acquisition [Line Items]
Goodwill		$ 34,279	$ 0
OneCloud, Inc.
Business Acquisition [Line Items]
Cash consideration	$ 36,564
Previously held equity interest	4,698
Total consideration	41,262
Cash	1,497
Intangible assets	7,000
Goodwill	34,279
Other assets	548
Deferred revenue	(900)
Deferred tax liability	(988)
Other liabilities	(174)
Fair value of assets and liabilities	$ 41,262

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Goodwill Activity (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2021USD ($)
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 0
Acquisition	34,279
Goodwill, ending balance	$ 34,279

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Intangible Asset Components (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 9,708	$ 2,538
Accumulated Amortization	(1,515)	(955)
Net Carrying Amount	$ 8,193	1,583
Acquired technology
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Life (Years)	4 years
Gross Carrying Amount	$ 6,600	0
Accumulated Amortization	(275)	0
Net Carrying Amount	$ 6,325	0
Acquired customer relationships
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Life (Years)	10 years
Gross Carrying Amount	$ 300	0
Accumulated Amortization	(5)	0
Net Carrying Amount	$ 295	0
Acquired trade name
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Life (Years)	2 years
Gross Carrying Amount	$ 100	0
Accumulated Amortization	(8)	0
Net Carrying Amount	$ 92	0
Patents
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Life (Years)	10 years
Gross Carrying Amount	$ 2,708	2,538
Accumulated Amortization	(1,227)	(955)
Net Carrying Amount	$ 1,481	$ 1,583

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense related to intangible assets	$ 0.4	$ 0.1	$ 0.6	$ 0.3

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets - Amortization of Intangible Assets by Fiscal Year (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Three months ended December 31, 2021	$ 541
2022	2,021
2023	1,910
2024	1,867
2025	1,154
2026	160
Thereafter	540
Net Carrying Amount	$ 8,193	$ 1,583