Dropbox (DBX) 10-Q 9 Aug 24 2024 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2024	Aug. 05, 2024
Class of Stock [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
Document Transition Report	false
Entity File Number	001-38434
Entity Registrant Name	Dropbox, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	26-0138832
Entity Address, Address Line One	1800 Owens Street
Entity Address, City or Town	San Francisco
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94158
City Area Code	415
Local Phone Number	930-7766
Title of 12(b) Security	Class A Common Stock, par value $0.00001 per share
Trading Symbol	DBX
Security Exchange Name	NASDAQ
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	0001467623
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Amendment Flag	false
Class A common stock
Class of Stock [Line Items]
Entity Common Stock, Shares Outstanding		245,866,446
Class B common stock
Class of Stock [Line Items]
Entity Common Stock, Shares Outstanding		79,551,154
Class C common stock
Class of Stock [Line Items]
Entity Common Stock, Shares Outstanding		0

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 515.1	$ 614.9
Short-term investments	547.4	741.1
Trade and other receivables, net	67.1	68.7
Prepaid expenses and other current assets	101.8	91.9
Total current assets	1,231.4	1,516.6
Property and equipment, net	323.7	309.2
Operating lease right-of-use asset	176.9	183.8
Intangible assets, net	56.4	58.1
Goodwill	411.9	402.2
Deferred tax assets	461.5	460.4
Other assets	56.7	53.2
Total assets	2,718.5	2,983.5
Current liabilities:
Accounts payable	37.8	38.5
Accrued and other current liabilities	151.6	155.2
Accrued compensation and benefits	67	109.2
Operating lease liability	69.1	57.4
Finance lease obligation	115.5	116.2
Deferred revenue	743	725
Total current liabilities	1,184	1,201.5
Operating lease liability, non-current	274.9	310.7
Finance lease obligation, non-current	167.2	168.5
Convertible senior notes, net, non-current	1,379.7	1,377.8
Other non-current liabilities	84	90.8
Total liabilities	3,089.8	3,149.3
Commitments and contingencies (Note 9)
Stockholders' deficit:
Additional paid-in-capital	2,519.9	2,598
Accumulated deficit	(2,872.6)	(2,742.3)
Accumulated other comprehensive loss	(18.6)	(21.5)
Total stockholders' deficit	(371.3)	(165.8)
Total liabilities and stockholders' deficit	$ 2,718.5	$ 2,983.5

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Statement [Abstract]
Revenue		$ 634.5	$ 622.5	$ 1,265.8	$ 1,233.6
Cost of revenue	[1],[2]	107	120.1	212.8	236.9
Gross profit		527.5	502.4	1,053	996.7
Operating expenses:
Research and development	[1],[2]	227.1	262.8	446.2	498
Sales and marketing	[1],[2]	112.5	120.9	221.3	240.1
General and administrative	[1],[2]	60.9	60	115	115.8
Net loss on real estate assets	[3]	0	2.2	0	2.2
Total operating expenses		400.5	445.9	782.5	856.1
Income from operations		127	56.5	270.5	140.6
Interest income, net		4.7	3.7	12	7.6
Other income (loss), net		1.9	(1.2)	2.2	(1.6)
Income before income taxes		133.6	59	284.7	146.6
Provision for income taxes		(23.1)	(15.8)	(41.9)	(34.4)
Net income		$ 110.5	$ 43.2	$ 242.8	$ 112.2
Basic net income per share (in dollars per share)		$ 0.34	$ 0.13	$ 0.74	$ 0.33
Diluted net income per share (in dollars per share)		$ 0.34	$ 0.13	$ 0.73	$ 0.32
Weighted-average shares used in computing net income per share attributable to common stockholders, basic (in shares)		322.4	341.4	328.6	344.2
Weighted-average shares used in computing net income per share attributable to common stockholders, diluted (in shares)		323.7	343.8	332.4	346.8
[1] Includes expenses related to the Company's reduction in workforce such as severance, benefits and other related items during the three and six months ended June 30, 2023. Includes stock-based compensation as follows: Three Months Ended Six Months Ended 2024 2023 2024 2023 Cost of revenue $ 6.0 $ 6.4 $ 11.2 $ 11.8 Research and development (4) 64.2 67.4 119.6 120.3 Sales and marketing 6.2 6.3 11.3 11.8 General and administrative 14.1 15.2 26.4 27.4 Total stock-based compensation $ 90.5 $ 95.3 $ 168.5 $ 171.3 Includes impairment charges related to real estate assets as a result of the Company's Virtual First work model.

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Parenthetical) - USD ($) $ in Millions			3 Months Ended		6 Months Ended		12 Months Ended
		Mar. 15, 2023	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2022
Allocated share-based compensation expense (reversal)			$ 90.5	$ 95.3	$ 168.5	$ 171.3
Cost of revenue
Allocated share-based compensation expense (reversal)			6	6.4	11.2	11.8
Research and development
Allocated share-based compensation expense (reversal)	[1]		64.2	67.4	119.6	120.3
Research and development | President
Allocated share-based compensation expense (reversal)		$ (6.7)					$ 4.4
Sales and marketing
Allocated share-based compensation expense (reversal)			6.2	6.3	11.3	11.8
General and administrative
Allocated share-based compensation expense (reversal)			$ 14.1	$ 15.2	$ 26.4	$ 27.4
[1] On March 15, 2023, the Company's former President resigned, resulting in the reversal of $6.7 million in stock-based compensation expense. Of the total amount reversed, $4.4 million related to expense recognized prior to January 1, 2023.

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 110.5	$ 43.2	$ 242.8	$ 112.2
Other comprehensive income (loss):
Change in foreign currency translation adjustments	(1)	0.3	(2.1)	(0.4)
Change in net unrealized gains and losses on short-term investments	2.8	0.8	5	11.1
Total other comprehensive income	1.8	1.1	2.9	10.7
Comprehensive income	$ 112.3	$ 44.3	$ 245.7	$ 122.9

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' DEFICIT - USD ($) shares in Millions, $ in Millions	Total	Common Stock	Additional paid in capital	Accumulated deficit	Accumulated other comprehensive income (loss)
Beginning balance (in shares) at Dec. 31, 2022		349.4
Beginning balance at Dec. 31, 2022	$ (309.4)	$ 0	$ 2,511.6	$ (2,772.1)	$ (48.9)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Release of restricted stock units and awards (in shares)		8
Shares withheld related to net share settlement of restricted stock units and awards (in shares)		(2.9)
Shares withheld related to net share settlement of restricted stock units and awards	(66.2)		(26.1)	(40.1)
Repurchases of common stock (in shares)		(15)
Repurchases of common stock	(331.7)		(136.1)	(195.6)
Exercise of stock options and awards (in shares)		0.1
Exercise of stock options and awards	1.2		1.2
Stock-based compensation	171.3		171.3
Other comprehensive income	10.7				10.7
Net income	112.2			112.2
Ending balance (in shares) at Jun. 30, 2023		339.6
Ending balance at Jun. 30, 2023	(411.9)	$ 0	2,521.9	(2,895.6)	(38.2)
Beginning balance (in shares) at Mar. 31, 2023		343.7
Beginning balance at Mar. 31, 2023	(365.2)	$ 0	2,501.6	(2,827.5)	(39.3)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Release of restricted stock units and awards (in shares)		4.3
Shares withheld related to net share settlement of restricted stock units and awards (in shares)		(1.5)
Shares withheld related to net share settlement of restricted stock units and awards	(32.1)		(13.2)	(18.9)
Repurchases of common stock (in shares)		(6.9)
Repurchases of common stock	(155.2)		(62.8)	(92.4)
Exercise of stock options and awards	1		1
Stock-based compensation	95.3		95.3
Other comprehensive income	1.1				1.1
Net income	43.2			43.2
Ending balance (in shares) at Jun. 30, 2023		339.6
Ending balance at Jun. 30, 2023	(411.9)	$ 0	2,521.9	(2,895.6)	(38.2)
Beginning balance (in shares) at Dec. 31, 2023		336.7
Beginning balance at Dec. 31, 2023	$ (165.8)	$ 0	2,598	(2,742.3)	(21.5)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Release of restricted stock units and awards (in shares)		7.1
Shares withheld related to net share settlement of restricted stock units and awards (in shares)	(2.7)	(2.7)
Shares withheld related to net share settlement of restricted stock units and awards	$ (76)		(26.7)	(49.3)
Repurchases of common stock (in shares)		(22.4)
Repurchases of common stock	(543.8)		(220)	(323.8)
Exercise of stock options and awards	0.1		0.1
Stock-based compensation	168.5		168.5
Other comprehensive income	2.9				2.9
Net income	242.8			242.8
Ending balance (in shares) at Jun. 30, 2024		318.7
Ending balance at Jun. 30, 2024	(371.3)	$ 0	2,519.9	(2,872.6)	(18.6)
Beginning balance (in shares) at Mar. 31, 2024		327.7
Beginning balance at Mar. 31, 2024	(277.2)	$ 0	2,554.8	(2,811.6)	(20.4)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Release of restricted stock units and awards (in shares)		3.7
Shares withheld related to net share settlement of restricted stock units and awards (in shares)		(1.4)
Shares withheld related to net share settlement of restricted stock units and awards	(34.7)		(14.2)	(20.5)
Repurchases of common stock (in shares)		(11.3)
Repurchases of common stock	(262.2)		(111.2)	(151)
Stock-based compensation	90.5		90.5
Other comprehensive income	1.8				1.8
Net income	110.5			110.5
Ending balance (in shares) at Jun. 30, 2024		318.7
Ending balance at Jun. 30, 2024	$ (371.3)	$ 0	$ 2,519.9	$ (2,872.6)	$ (18.6)

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions		6 Months Ended
		Jun. 30, 2024	Jun. 30, 2023
Cash flow from operating activities
Net income		$ 242.8	$ 112.2
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		63.8	85.2
Stock-based compensation		168.5	171.3
Net loss on real estate assets	[1]	0	2.2
Amortization of debt issuance costs		2.1	2.1
Amortization of deferred commissions		14.9	20.8
Non-cash operating lease expense		18.1	23.5
Deferred taxes		0.5	7.5
Other		0.1	0.5
Changes in operating assets and liabilities:
Trade and other receivables, net		1.1	(6.5)
Prepaid expenses and other current assets		(21.7)	(17.6)
Other assets		2	3.7
Accounts payable		(1.8)	6.9
Accrued and other current liabilities		(18)	(7.6)
Accrued compensation and benefits		(42)	(65.1)
Deferred revenue		16.6	31.3
Other non-current liabilities		2.4	(7.6)
Operating lease liabilities		(28.4)	(35.3)
Cash paid for lease termination		(14.9)	0
Net cash provided by operating activities		406.1	327.5
Cash flow from investing activities
Capital expenditures		(15.1)	(4.9)
Business combinations, net of cash acquired		(21.1)	0
Purchases of short-term investments		(62.3)	(47.9)
Proceeds from sales of short-term investments		58.6	331.6
Proceeds from maturities of short-term investments		206.5	119.4
Other		10.3	8.7
Net cash provided by investing activities		176.9	406.9
Cash flow from financing activities
Payments of debt issuance costs		0	(0.1)
Payments for taxes related to net share settlement of restricted stock units and awards		(76)	(66.2)
Proceeds from issuance of common stock, net of taxes withheld		0.1	1.2
Principal payments on finance lease obligations		(63.9)	(63.9)
Common stock repurchases		(539.6)	(329.6)
Net cash used in financing activities		(679.4)	(458.6)
Effect of exchange rate changes on cash and cash equivalents		(3.4)	1.7
Change in cash and cash equivalents		(99.8)	277.5
Cash and cash equivalents - beginning of period		614.9	232.8
Cash and cash equivalents - end of period		515.1	510.3
Supplemental cash flow data:
Property and equipment acquired under finance leases		$ 61.9	$ 67.9
[1] Includes impairment charges related to real estate assets as a result of the Company's Virtual First work model.

Description of the Business and

Description of the Business and Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of the Business and Summary of Significant Accounting Policies	Description of the Business and Summary of Significant Accounting Policies Business Dropbox, Inc. (the “Company” or “Dropbox”) helps keep life organized and work moving. The Company was incorporated in May 2007 as Evenflow, Inc., a Delaware corporation, and changed its name to Dropbox, Inc. in October 2009. The Company is headquartered in San Francisco, California. Basis of presentation and consolidation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the United States of America generally accepted accounting principles (“GAAP”) and applicable rules and regulations of the SEC regarding interim financial reporting. The accompanying unaudited condensed consolidated financial statements include the accounts of Dropbox and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. The condensed consolidated balance sheet as of December 31, 2023 included herein was derived from the audited financial statements as of that date. The unaudited condensed consolidated financial statements reflect all normal recurring adjustments necessary to present fairly the balance sheets, statements of operations, statements of comprehensive income, statements of stockholders' deficit and the statements of cash flows for the interim periods, but are not necessarily indicative of the results of operations to be anticipated for the full fiscal year ended December 31, 2024 or any future period. The unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the related notes thereto as of and for the year ended December 31, 2023, included in the Company's Annual Report on Form 10-K on file with the SEC ("Annual Report"). Use of estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported and disclosed in the Company’s condensed consolidated financial statements and accompanying notes. These estimates are based on information available as of the date of the condensed consolidated financial statements. Management evaluates these estimates and assumptions on a regular basis. Actual results may differ materially from these estimates. The Company’s most significant estimates and judgments are related to the valuation of right-of-use and other lease related property and equipment assets as well as income taxes. The Company reviews the useful lives of long-lived assets on an ongoing basis, and effective January 1, 2024, the Company changed the estimate of the useful lives of certain infrastructure server and component assets, which are included in property and equipment, net and are depreciated through cost of revenue, from four Financial information about segments and geographic areas The Company manages its operations and allocates resources as a single operating segment. Further, the Company manages, monitors, and reports its financials as a single reporting segment. The Company’s chief operating decision-maker is its Chief Executive Officer, who reviews financial information presented on a consolidated basis for purposes of making operating decisions, assessing financial performance, and allocating resources. See Note 14 "Geographic Areas" to the Company's condensed consolidated financial statements included elsewhere in this Quarterly Report on Form 10-Q for information regarding the Company’s long-lived assets and revenue by geography. Foreign currency transactions The assets and liabilities of the Company’s foreign subsidiaries are translated from their respective functional currencies into U.S. dollars at the exchange rates in effect at the balance sheet date. Revenue and expense amounts are translated at the average exchange rate for the period. Foreign currency translation gains and losses are recorded in other comprehensive income, net of tax. Gains and losses realized from foreign currency transactions (those transactions denominated in currencies other than the foreign subsidiaries’ functional currency) are included in other income (loss), net. Monetary assets and liabilities are remeasured using foreign currency exchange rates at the end of the period, and non-monetary assets are remeasured based on historical exchange rates. Foreign currency transaction gains or losses were immaterial during the three and six months ended June 30, 2024 and 2023, respectively. Revenue recognition The Company derives its revenue from subscription fees from customers for access to its platform. The Company’s policy is to exclude sales and other indirect taxes when measuring the transaction price of its subscription agreements. The Company accounts for revenue contracts with customers through the following steps: • Identification of the contract, or contracts, with a customer • Identification of the performance obligations in the contract • Determination of the transaction price • Allocation of the transaction price to the performance obligations in the contract • Recognition of revenue when, or as, the Company satisfies a performance obligation The Company’s subscription agreements are generally non-cancelable and have monthly or annual contractual terms with a small percentage having multi-year contractual terms. Revenue is recognized ratably over the related contractual term beginning on the date that the platform is made available to a customer. Access to the platform represents a series of distinct services as the Company continually provides access to, and fulfills its obligation to the end customer over the subscription term. The series of distinct services represents a single performance obligation that is satisfied over time. The Company recognizes revenue ratably because the customer receives and consumes the benefits of the platform throughout the contract period. The Company bills in advance for monthly contracts and typically bills annually in advance for contracts with terms of one year or longer. The Company also recognizes an immaterial amount of contract assets, or unbilled receivables, primarily related to consideration for services completed but not billed at the reporting date. Unbilled receivables are classified as receivables when the Company has the right to invoice the customer. The Company records contract liabilities when cash payments are received or due in advance of performance to deferred revenue. Deferred revenue primarily relates to the advance consideration received from the customer. The price of subscriptions is generally fixed at contract inception and therefore, the Company’s contracts do not contain a significant amount of variable consideration. As a result, the amount of revenue recognized in the periods presented from performance obligations satisfied (or partially satisfied) in previous periods was not material. The Company recognized $348.4 million and $555.5 million of revenue during the three and six months ended June 30, 2024, respectively, and recognized $341.9 million and $536.7 million of revenue during the three and six months ended June 30, 2023, respectively, that was included in the deferred revenue balances at the beginning of their respective periods. As of June 30, 2024, future estimated revenue related to performance obligations that were unsatisfied or partially unsatisfied was $818.3 million. The substantial majority of the unsatisfied performance obligations will be satisfied over the next twelve months. Stock-based compensation The Company has primarily granted restricted stock units (“RSUs”) to its employees and members of the Board of Directors under the 2008 Equity Incentive Plan (“2008 Plan”), the 2017 Equity Incentive Plan (“2017 Plan”), and the 2018 Equity Incentive Plan (“2018 Plan” and together with the 2008 Plan and 2017 Plan, the "Dropbox Equity Incentive Plans”). Since August 2015, the Company has granted RSUs, which have a service based vesting condition over a four-year period vesting quarterly, as the only stock-based awards to its employees, with the exception of restricted stock awards ("RSAs") granted to its co-founder and certain executives, and has not granted any stock options to employees under the Dropbox Equity Incentive Plans. The Company recognizes compensation expense associated with RSUs on a straight-line basis over the requisite service period and accounts for forfeitures in the period in which they occur. The Board of Directors determines the fair value of each share of underlying common stock based on the closing price of the Company's Class A common stock as reported on the Nasdaq Global Select Market on the date of the grant. In December 2017, the Board of Directors approved the Company’s Co-Founder Grant, consisting of 10.3 million shares of Class A Common Stock in the form of RSAs which were granted to Drew Houston, the Company’s co-founder and Chief Executive Officer. This Co-Founder Grant has service-based, market-based, and performance-based vesting conditions. The Co-Founder Grant is excluded from Class A common stock issued and outstanding until the satisfaction of these vesting conditions. The Company estimated the grant date fair value of the Co-Founder Grant using a model based on multiple stock price paths developed through the use of a Monte Carlo simulation that incorporates into the valuation the possibility that certain stock price targets may not be satisfied. The first tranche of the Co-Founder Grant vested in the fourth quarter of 2021. The stock-based compensation expense for the Co-Founder Grant is recognized utilizing the accelerated attribution method over the requisite service period identified as the derived service period over which the market conditions are expected to be achieved, and is not reversed if the market conditions are not satisfied. Therefore no incremental stock-based compensation was recognized upon vesting of these RSAs. See Note 11, "Stockholders' Deficit" to the Company's condensed consolidated financial statements included elsewhere in this Quarterly Report on Form 10-Q for further information. Cost of revenue Cost of revenue consists primarily of expenses associated with the storage, delivery, and distribution of the Company’s platform for both paying users and free users. These costs, which are referred to as infrastructure costs, include depreciation of servers located in co-location facilities that the Company leases and operates, rent and facilities expense for those datacenters, network and bandwidth costs, support and maintenance costs for infrastructure equipment, and payments to third-party datacenter service providers. Cost of revenue also includes salaries, bonuses, benefits, travel-related expenses, and stock-based compensation, which are referred to as employee-related costs, for employees whose primary responsibilities relate to supporting the Company’s infrastructure and delivering user support. Other non-employee costs included in cost of revenue include credit card fees related to processing customer transactions and allocated overhead, such as facilities, including rent, utilities, depreciation on leasehold improvements and other equipment shared by all departments, and shared information technology costs. In addition, cost of revenue includes amortization of developed technologies, professional fees related to user support initiatives, and property taxes related to the datacenters. Reduction in Workforce On April 27, 2023, the Company announced a reduction of its global workforce by approximately 16% to streamline its team structure in support of its long-term growth and profitability objectives. During the three and six months ended June 30, 2023, the Company incurred $37.5 million in charges in connection with the reduction in workforce, primarily consisting of cash expenditures for severance payments, employee benefits and related costs. These severance charges are included within the Company's condensed consolidated statements of operations for the three and six months ended June 30, 2023 as follows: Severance and Related Costs Cost of revenue $ 2.7 Research and development 27.0 Sales and marketing 6.3 General and administrative 1.5 Total Charges $ 37.5 Cash and cash equivalents Cash consists primarily of cash on deposit with banks and includes amounts in transit from payment processors for credit and debit card transactions, which typically settle within five business days. Cash equivalents include highly liquid investments purchased with an original maturity date of 90 days or less from the date of purchase. The Company monitors its credit risk by considering factors such as historical experience, credit ratings, current economic conditions, and reasonable and supportable forecasts. Short-term investments The Company’s short-term investments are primarily comprised of corporate notes and obligations, U.S. Treasury securities, certificates of deposit, asset-backed securities, commercial paper, U.S. agency obligations, foreign government securities, supranational securities, and municipal securities. The Company determines the appropriate classification of its short-term investments at the time of purchase and reevaluates such designation at each balance sheet date. The Company has classified and accounted for its short-term investments as available-for-sale securities as the Company may sell these securities at any time for use in its current operations or for other purposes, even prior to maturity. As a result, the Company classifies its short-term investments, including securities with stated maturities beyond twelve months, within current assets in the condensed consolidated balance sheets. The Company's short-term investments are recorded at fair value each reporting period. Unrealized gains and losses on these short-term investments are reported as a separate component of accumulated other comprehensive loss in the condensed consolidated balance sheets until realized. Unrealized gains and losses for any short-term investments that management intends to sell or it is more likely than not that management will be required to sell prior to their anticipated recovery are recorded in other income (loss), net. The Company segments its portfolio based on the underlying risk profiles of the securities and has a zero-loss expectation for U.S. treasury and U.S. government agency securities. The Company regularly reviews the securities in an unrealized loss position and evaluates the current expected credit loss by considering factors such as credit ratings, issuer-specific factors, current economic conditions, and reasonable and supportable forecasts. The Company did not record any material credit losses during the three and six months ended June 30, 2024. As of June 30, 2024 and December 31, 2023, no allowance for credit losses in short-term investments was recorded. Concentrations of credit risk Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash, cash equivalents, accounts receivable, and short-term investments. Although the Company deposits its cash and cash equivalents with multiple well-established financial institutions, the deposits, at times, may exceed federally insured limits. The Company has not experienced any losses on its deposits of cash and cash equivalents and management believes that the institutions where the Company has deposits are financially stable and, accordingly, minimal credit risk exists. Trade accounts receivable are typically unsecured and are derived from revenue earned from customers located around the world. Two distribution partners accounted for 11% and 47% of total trade and other receivables, net as of June 30, 2024. Two distribution partners accounted for 11% and 43% o f total trade and other receivables, net as of December 31, 2023. No customer accounted for more than 10% of the Company’s revenue in the periods presented. Deferred commissions, net Deferred commissions, net is stated as gross deferred commissions less accumulated amortization. Deferred commissions are considered to be incremental and recoverable costs of obtaining a contract with a customer such as sales commissions earned by the Company’s sales force including related payroll taxes and revenue share earned by strategic partners. These amounts have been capitalized as deferred commissions within prepaid and other current assets and other assets on the condensed consolidated balance sheets. The Company deferred incremental costs of obtaining a contract of $7.9 million and $15.5 million during the three and six months ended June 30, 2024, respectively and $6.2 million and $12.3 million during the three and six months ended June 30, 2023, respectively. Deferred commissions, net included in prepaid and other current assets were $23.7 million and $23.4 million as of June 30, 2024 and December 31, 2023, respectively. Deferred commissions, net included in other assets were $22.3 million and $22.0 million as of June 30, 2024 and December 31, 2023, respectively. Commissions related to new contracts are typically deferred and amortized over a period of benefit of five years. The period of benefit was estimated by considering factors such as historical customer attrition rates, the useful life of the Company’s technology, and the impact of competition in its industry. Commissions that are commensurate with renewal contracts are typically amortized over one year. Amortization of deferred commissions was $7.4 million and $14.9 million for the three and six months ended June 30, 2024, respectively and $10.1 million and $20.8 million for the three and six months ended June 30, 2023, respectively. Amortization of deferred commissions costs are included in sales and marketing expense in the accompanying condensed consolidated statements of operations. There was no impairment loss in relation to the deferred costs for any period presented. Property and equipment, net Equipment is stated at cost less accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful life of the related asset, which is generally three The following table presents the estimated useful lives of property and equipment: Property and equipment Useful life Datacenter and other computer equipment 3 to 5 years Office equipment and other 3 to 7 years Leasehold improvements Lesser of estimated useful life or remaining lease term Lease obligations The Company leases office space, datacenters, and equipment under non-cancelable finance and operating leases with various expiration dates through 2036. The Company determines if an arrangement contains a lease at inception. Operating lease right-of-use assets and lease liabilities are recognized at the present value of the future lease payments at commencement date. The interest rate implicit in the Company’s operating leases is not readily determinable, and therefore an incremental borrowing rate is estimated to determine the present value of future payments. The estimated incremental borrowing rate factors in a hypothetical interest rate on a collateralized basis with similar terms, payments, and economic environments. Operating lease right-of-use assets also include any prepaid lease payments and lease incentives. Certain of the operating lease agreements contain rent concession, rent escalation, and option to renew provisions. Rent concession and rent escalation provisions are considered in determining the single lease cost to be recorded over the lease term. Single lease cost is recognized on a straight-line basis over the lease term commencing on the date the Company has the right to use the leased property. The lease terms may include options to extend or terminate the lease. The Company generally uses the base, non-cancelable, lease term when recognizing the lease assets and liabilities, unless it is reasonably certain that the option will be exercised. In addition, certain operating lease agreements contain tenant improvement allowances from its landlords. These allowances are accounted for as lease incentives and decrease the Company's right-of-use asset and reduce single lease cost over the lease term. As part of the Company's Virtual First strategy, Dropbox has retained a portion of its office space for in-person collaboration while the remainder will be subleased. The Company did not recognize any impairment charges during the three and six months ended June 30, 2024, respectively, compared to $2.2 million of impairment charges during the three and six months ended June 30, 2023, respectively, related to right-of-use assets and other lease related property and equipment assets. See Note 8 "Leases" to our condensed consolidated financial statements included elsewhere in the Quarterly Report on Form 10-Q for further information. The Company leases certain equipment from various third parties, through equipment finance leases. These leases either include a bargain purchase option, a full transfer of ownership at the completion of the lease term, or the terms of the leases are at least 75 percent of the useful lives of the assets and are therefore classified as finance leases. These leases are capitalized in property and equipment, net and the related amortization of assets under finance leases is included in depreciation and amortization expense. Initial asset values and finance lease obligations are based on the present value of future minimum lease payments. The Company’s finance lease agreements may contain lease and non-lease components. The non-lease components include payments for support on infrastructure equipment obtained via finance leases, which when not significant in relation to the overall agreement, are combined with the lease components and accounted for together as a single lease component. Business combinations The Company uses best estimates and assumptions, including but not limited to, future expected cash flows, expected asset lives, and discount rates, to assign a fair value to the tangible and intangible assets acquired and liabilities assumed in business combinations as of the acquisition date. These estimates are inherently uncertain and subject to refinement. During the measurement period, which may be up to one year from the acquisition date, adjustments to the fair value of these tangible and intangible assets acquired and liabilities assumed may be recorded, with the corresponding offset to goodwill. Upon the conclusion of the measurement period or final determination of the fair value of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded to the Company’s condensed consolidated statements of operations. Long-lived assets, including goodwill and other acquired intangible assets, net The Company evaluates the recoverability of its property and equipment and finite-lived intangible assets for possible impairment whenever events or circumstances indicate that the carrying amount of such assets may not be recoverable. The evaluation is performed at the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities. Recoverability of these assets is measured by a comparison of the carrying amounts to the future undiscounted cash flows the assets are expected to generate. If such review determines that the carrying amount of specific property and equipment or intangible assets is not recoverable, the carrying amount of such assets is reduced to its fair value. The Company reviews goodwill for impairment at least annually in the fourth quarter, or more frequently if events or changes in circumstances would more likely than not reduce the fair value of its single reporting unit below its carrying value. The Company has not recorded impairment charges on goodwill or intangible assets for the periods presented in these condensed consolidated financial statements. The Company did not recognize any impairment charges during the three and six months ended June 30, 2024, respectively. The Company recognized impairment charges of $2.2 million during the three and six months ended June 30, 2023, respectively, related to right-of-use assets and other lease related property and equipment assets. Acquired property and equipment and finite-lived intangible assets are amortized over their useful lives. The Company evaluates the estimated remaining useful life of these assets when events or changes in circumstances warrant a revision to the remaining period of depreciation or amortization. If the Company revises the estimated useful life assumption for any asset, the remaining unamortized balance is amortized or depreciated over the revised estimated useful life on a prospective basis. In the first quarter of 2024, the Company changed the estimate of the useful lives of certain infrastructure server and component assets from four Income taxes Deferred income tax balances reflect the effects of temporary differences between the financial reporting and tax bases of the Company’s assets and liabilities using enacted tax rates expected to apply when taxes are actually paid or recovered. In addition, deferred tax assets are recorded for net operating loss and credit carryforwards. A valuation allowance is provided against deferred tax assets unless it is more likely than not that they will be realized based on all available positive and negative evidence. Such evidence includes, but is not limited to, recent cumulative earnings or losses, expectations of future taxable income by taxing jurisdiction, and the carry-forward periods available for the utilization of deferred tax assets. The Company uses a two-step approach to recognizing and measuring uncertain income tax positions. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates it is more likely than not that the position will be sustained on audit. The second step is to measure the tax benefit as the largest amount, which is more than 50% likely of being realized upon ultimate settlement. The Company recognizes interest and penalties related to unrecognized tax benefits as income tax expense. Although the Company believes that it has adequately reserved for its uncertain tax positions, it can provide no assurance that the final tax outcome of these matters will not be materially different. The Company evaluates its uncertain tax positions on a regular basis and evaluations are based on a number of factors, including changes in facts and circumstances, changes in tax law, correspondence with tax authorities during the course of an audit, and effective settlement of audit issues. To the extent that the final tax outcome of these matters is different than the amounts recorded, such differences will affect the provision for income taxes in the period in which such determination is made and could have a material impact on the Company’s financial condition and results of operations. The Tax Cuts and Jobs Act of 2017 ("TCJA") subjects a U.S. shareholder to current tax on global intangible low-taxed income ("GILTI") earned by foreign subsidiaries. The Company accounts for GILTI as a period cost as incurred. Fair value measurement The Company applies fair value accounting for all financial assets and liabilities and non-financial assets and liabilities that are recognized or disclosed at fair value in the financial statements on a recurring basis. The Company defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining fair value measurements for assets and liabilities, the Company considers the principal or most advantageous market in which it would transact and the market-based risk measurements or assumptions that market participants would use in pricing the asset or liability, such as risks inherent in valuation techniques, transfer restrictions, and credit risk. Fair value is estimated by applying the following hierarchy, which prioritizes the inputs used to measure fair value into three levels and bases the categorization within the hierarchy upon the lowest level of input that is available and significant to the fair value measurement: Level 1 —Quoted prices in active markets for identical assets or liabilities. Level 2 —Observable inputs other than quoted prices in active markets for identical assets and liabilities, quoted prices for identical or similar assets or liabilities in inactive markets, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 —Inputs that are generally unobservable and typically reflect management’s estimate of assumptions that market participants would use in pricing the asset or liability. Recently issued accounting pronouncements not yet adopted In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures , which requires disclosure of incremental segment information on an annual and interim basis. The amendments are effective for fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024. This change requires application on a fully retrospective basis. Early adoption is permitted. The Company is currently evaluating the impact of this standard on the Company's consolidated financial statement disclosures. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures , to enhance income tax disclosures primarily through changes in rate reconciliation and income taxes paid disclosures. The amendments in ASU 2023-09 are effective for annual periods beginning after December 15, 2024 on a prospective basis. Early adoption is permitted. The Company is currently evaluating the impact of this standard on the Company's consolidated financial statement disclosures.

Cash, Cash Equivalents and Shor

Cash, Cash Equivalents and Short-Term Investments	6 Months Ended
	Jun. 30, 2024
Cash and Cash Equivalents [Abstract]
Cash, Cash Equivalents and Short-Term Investments	Cash, Cash Equivalents and Short-Term Investments The amortized cost, unrealized gains and losses and estimated fair value of the Company's cash, cash equivalents and short-term investments as of June 30, 2024 and December 31, 2023 consisted of the following: As of June 30, 2024 Amortized Cost Unrealized Gain Unrealized Loss Estimated Fair Value Cash $ 101.0 $ — $ — $ 101.0 Cash equivalents Money market funds 411.3 — — 411.3 Corporate notes and obligations 2.7 — — 2.7 U.S. Treasury securities 0.1 — — 0.1 Total cash & cash equivalents $ 515.1 $ — $ — $ 515.1 Short-term investments Corporate notes and obligations 300.9 0.2 (7.7) 293.4 U.S. Treasury securities 145.7 — (5.0) 140.7 Asset backed securities 50.9 — (1.2) 49.7 Municipal securities 37.9 — (1.4) 36.5 Commercial paper 14.6 — — 14.6 Certificates of deposit 5.4 — — 5.4 U.S. agency obligations 3.8 — (0.3) 3.5 Foreign government obligations 2.0 — (0.1) 1.9 Supranational securities 1.8 — (0.1) 1.7 Total short-term investments 563.0 0.2 (15.8) 547.4 Total $ 1,078.1 $ 0.2 $ (15.8) $ 1,062.5 As of December 31, 2023 Amortized Cost Unrealized Gain Unrealized Loss Estimated Fair Value Cash 81.3 $ — $ — 81.3 Cash equivalents Money market funds 514.8 — — 514.8 U.S. Treasury securities 10.0 — — 10.0 Commercial paper 4.4 — — 4.4 Corporate notes and obligations 2.9 — — 2.9 Certificates of deposit 1.3 — — 1.3 Municipal securities 0.2 — — 0.2 Total cash & cash equivalents $ 614.9 $ — $ — $ 614.9 Short-term investments Corporate notes and obligations 359.6 0.4 (10.3) 349.7 U.S. Treasury securities 231.2 0.2 (6.1) 225.3 Asset backed securities 72.3 — (2.3) 70.0 Municipal securities 48.3 — (2.0) 46.3 Commercial paper 30.7 — — 30.7 Certificates of deposit 8.4 — — 8.4 U.S. agency obligations 6.0 — (0.3) 5.7 Foreign government obligations 3.5 — (0.2) 3.3 Supranational securities 1.8 — (0.1) 1.7 Total short-term investments 761.8 0.6 (21.3) 741.1 Total $ 1,376.7 $ 0.6 $ (21.3) $ 1,356.0 Included in cash and cash equivalents is cash in transit from payment processors for credit and debit card transactions of $21.2 million and $17.0 million as of June 30, 2024 and December 31, 2023, respectively. All short-term investments were designated as available-for-sale securities as of June 30, 2024 and December 31, 2023. The following table presents the contractual maturities of the Company’s short-term investments as of June 30, 2024: As of June 30, 2024 Amortized cost Estimated fair value Due within one year $ 172.8 $ 171.0 Due between one to three years 361.6 348.6 Due after three years 28.6 27.8 Total $ 563.0 $ 547.4 The Company had 368 short-term investments in unrealized loss positions as of June 30, 2024. There were no material gains or losses from short-term investments that were reclassified out of accumulated other comprehensive loss for the three and six months ended June 30, 2024 or the three and six months ended June 30, 2023. As of June 30, 2024, the Company’s short-term investments portfolio consisted of nine security types, seven of which were in an unrealized loss position. The Company’s short-term investments had unrealized losses of approximately $15.8 million as of June 30, 2024. The following tables present the breakdown of the short-term investments that have been in a continuous unrealized loss position aggregated by investment category, as of June 30, 2024 and December 31, 2023: As of June 30, 2024 Less than 12 months More than 12 months Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Corporate notes and obligations $ 77.6 $ (0.3) $ 168.4 $ (7.4) $ 246.0 $ (7.7) U.S. Treasury securities 33.9 (0.2) 92.2 (4.8) 126.1 (5.0) Asset backed securities 3.1 — 46.0 (1.2) 49.1 (1.2) Municipal securities — — 36.3 (1.4) 36.3 (1.4) U.S. agency obligations — — 3.5 (0.3) 3.5 (0.3) Foreign government obligations — — 1.9 (0.1) 1.9 (0.1) Supranational securities — — 1.7 (0.1) 1.7 (0.1) Total $ 114.6 $ (0.5) $ 350.0 $ (15.3) $ 464.6 $ (15.8) As of December 31, 2023 Less than 12 months More than 12 months Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Corporate notes and obligations $ 25.1 $ (0.1) $ 240.3 $ (10.2) $ 265.4 $ (10.3) U.S. Treasury securities 17.8 (0.1) 174.0 (6.0) 191.8 (6.1) Asset backed securities 0.6 — 66.0 (2.3) 66.6 (2.3) Municipal securities — — 46.1 (2.0) 46.1 (2.0) U.S. agency obligations — — 3.5 (0.3) 3.5 (0.3) Foreign government obligations — — 3.3 (0.2) 3.3 (0.2) Supranational securities — — 1.6 (0.1) 1.6 (0.1) Total $ 43.5 $ (0.2) $ 534.8 $ (21.1) $ 578.3 $ (21.3) Unrealized losses on short-term investments have not been recorded into income because management does not intend to sell nor will be required to sell these securities prior to their anticipated recovery, and for which the decline in fair value is largely due to changes in interest rates. The credit ratings associated with the corporate notes and obligations are mostly unchanged, are highly rated and the issuers continue to make timely principal and interest payments. The Company recorded interest income from its cash, cash equivalents, and short-term investments of $9.5 million and $21.5 million during the three and six months ended June 30, 2024, respectively and $7.4 million and $14.6 million during the three and six months ended June 30, 2023, respectively.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The Company measures its financial instruments at fair value each reporting period using a fair value hierarchy that prioritizes the use of observable inputs and minimizes the use of unobservable inputs when measuring fair value. A financial instrument’s classification within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The following table presents information about the Company’s financial instruments that are measured at fair value on a recurring basis using the input categories discussed in Note 1: As of June 30, 2024 Level 1 Level 2 Level 3 Total Cash equivalents Money market funds 411.3 — — 411.3 Corporate notes and obligations — 2.7 — 2.7 U.S. Treasury securities — 0.1 — 0.1 Total cash equivalents $ 411.3 $ 2.8 $ — $ 414.1 Short-term investments Corporate notes and obligations — 293.4 — 293.4 U.S. Treasury securities — 140.7 — 140.7 Asset backed securities — 49.7 — 49.7 Municipal securities — 36.5 — 36.5 Commercial paper — 14.6 — 14.6 Certificates of deposit — 5.4 — 5.4 U.S. agency obligations — 3.5 — 3.5 Foreign government obligations — 1.9 — 1.9 Supranational securities — 1.7 — 1.7 Total short-term investments — 547.4 — 547.4 Total $ 411.3 $ 550.2 $ — $ 961.5 As of December 31, 2023 Level 1 Level 2 Level 3 Total Cash equivalents Money market funds $ 514.8 $ — $ — $ 514.8 U.S. Treasury securities — 10.0 — 10.0 Commercial paper — 4.4 — 4.4 Corporate notes and obligations — 2.9 — 2.9 Certificates of deposit — 1.3 — 1.3 Municipal securities — 0.2 — 0.2 Total cash equivalents $ 514.8 $ 18.8 $ — $ 533.6 Short-term investments Corporate notes and obligations — 349.7 — 349.7 U.S. Treasury securities — 225.3 — 225.3 Asset backed securities — 70.0 — 70.0 Municipal securities — 46.3 — 46.3 Commercial paper — 30.7 — 30.7 Certificates of deposit — 8.4 — 8.4 U.S. agency obligations — 5.7 — 5.7 Foreign government obligations — 3.3 — 3.3 Supranational securities — 1.7 — 1.7 Total short-term investments — 741.1 — 741.1 Total $ 514.8 $ 759.9 $ — $ 1,274.7 The Company had no transfers between levels of the fair value hierarchy during the periods presented. The carrying amounts of certain financial instruments, including cash held in banks, accounts receivable and accounts payable approximate fair value due to their short-term maturities and are excluded from the fair value table above. The Company had $695.8 million in aggregate principal amount of 0% convertible senior notes due in 2026 (the "2026 Notes"), and $693.3 million in aggregate principal amount of 0% convertible senior notes due in 2028 (the "2028 Notes" and together with the 2026 Notes, the "Notes"), outstanding as of June 30, 2024. Refer to Note 7 "Debt" for further details on the 2026 Notes and 2028 Notes. The estimated fair value of the 2026 Notes and the 2028 Notes, based on a market approach as of June 30, 2024 was approximately $648.3 million and $627.4 million, respectively. The Notes were categorized as Level 2 instruments as the estimated fair value was determined based on the estimated or actual bids and offers of the Notes in an over-the-counter market on the last business day of the period.

Property and Equipment, Net

Property and Equipment, Net	6 Months Ended
	Jun. 30, 2024
Property, Plant and Equipment [Abstract]
Property and Equipment, Net	Property and Equipment, Net Property and equipment, net consisted of the following: As of June 30, 2024 December 31, 2023 Datacenter and other computer equipment $ 837.9 $ 783.2 Furniture and fixtures 11.7 11.6 Leasehold improvements 101.4 96.1 Construction in progress 4.3 4.6 Total property and equipment 955.3 895.5 Accumulated depreciation and amortization (631.6) (586.3) Property and equipment, net $ 323.7 $ 309.2 The Company leases certain infrastructure, computer equipment, and furniture from various third parties, through equipment finance leases. Infrastructure assets as of June 30, 2024 and December 31, 2023 included a total of $470.9 million and $457.4 million, respectively, acquired under finance lease agreements. These leases are capitalized in property and equipment, and the related amortization of assets under finance leases is included in depreciation and amortization expense. The accumulated depreciation of the equipment under finance leases totaled $235.6 million and $234.7 million as of June 30, 2024 and December 31, 2023, respectively. Depreciation expense related to property and equipment was $25.9 million and $50.7 million for the three and six months ended June 30, 2024, respectively, and $35.2 million and $70.1 million for the three and six months ended June 30, 2023, respectively.

Intangible Assets

Intangible Assets	6 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	Intangible Assets Intangible assets consisted of the following: As of June 30, As of December 31, Weighted- As of June 30, 2024 2023 2024 Developed technology $ 85.5 $ 74.3 3.6 Customer relationships 43.2 43.2 0.9 Patents 19.4 19.4 2.9 Software 8.9 8.9 0.0 Trademarks and trade names 5.8 5.8 1.4 Licenses 4.8 4.6 4.5 Assembled workforce in asset acquisitions 3.4 3.4 1.8 Other 1.3 1.3 1.3 Total intangibles 172.3 160.9 Accumulated amortization (115.9) (102.8) Intangible assets, net $ 56.4 $ 58.1 Amortization expense was $6.4 million and $13.1 million for the three and six months ended June 30, 2024, respectively, and $7.6 million and $15.1 million for the three and six months ended June 30, 2023, respectively. Expected future amortization expense for intangible assets as of June 30, 2024 is as follows: Intangible assets Remainder of 2024 $ 13.3 2025 17.1 2026 12.7 2027 9.3 2028 2.5 2029 0.9 Thereafter 0.6 Total $ 56.4

Goodwill

Goodwill	6 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	Goodwill Goodwill represents the excess of the purchase price in a business combination over the fair value of net tangible and intangible assets acquired. The changes in the carrying amounts of goodwill were as follows: Balance at December 31, 2023 $ 402.2 Acquisition 10.7 Effect of foreign currency translation (1.0) Balance at June 30, 2024 $ 411.9

Debt

Debt	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Debt	Debt Revolving credit facility In February 2018, the Company entered into an amendment to the revolving credit facility to, among other things, permit the Company to make certain investments, enter into an unsecured standby letter of credit facility and increase its standby letter of credit sublimit to $187.5 million. The Company increased its borrowing capacity under the revolving credit facility from $600.0 million to $725.0 million. In February 2021, the Company amended the revolving credit facility to decrease its borrowing capacity under the revolving credit facility from $725.0 million to $500.0 million, the letter of credit sublimit from $187.5 million to $65.0 million and extended the term of the agreement through February 2026. The Company may from time-to-time request increases in its borrowing capacity under the revolving credit facility of up to $250.0 million, provided no event of default has occurred or is continuing or would result from such increase. In conjunction with the February 2021 amendment, the Company paid upfront issuance fees of $1.7 million, which are being amortized over the remaining term of the agreement, and wrote-off $0.2 million in unamortized deferred debt issuance costs. In March 2023, the Company amended the revolving credit facility to update its borrowing benchmark from LIBOR to SOFR, with a fixed credit spread adjustment of 0.10%. In conjunction with the March 2023 amendment, the Company incurred upfront issuance fees of $0.1 million, which are being amortized over the remaining term of the agreement. Pursuant to the terms of the revolving credit facility, the Company may issue letters of credit under the revolving credit facility, which reduce the total amount available for borrowing. Pursuant to the terms of the revolving credit facility, the Company is required to pay an annual commitment fee that accrues at a rate of 0.20% per annum on the unused portion of the borrowing commitments under the revolving credit facility. In addition, the Company is required to pay a fee in connection with letters of credit issued under the revolving credit facility, which accrues at a rate of 1.375% per annum on the amount of such letters of credit outstanding. There is an additional fronting fee of 0.125% per annum multiplied by the average aggregate daily maximum amount available under all letters of credit. Borrowings under the revolving credit facility bear interest, at the Company’s option, at an annual rate based on credit spread adjusted SOFR plus a spread of 1.375% or at an alternative base rate plus a spread of 0.375%. The revolving credit facility contains customary conditions to borrowing, events of default and covenants, including covenants that restrict the Company’s ability to incur indebtedness, grant liens, make distributions to holders of the Company or its subsidiaries’ equity interests, make investments, or engage in transactions with its affiliates. In addition, the revolving credit facility contains financial covenants, including a consolidated leverage ratio incurrence covenant and a minimum liquidity balance of $100.0 million, which includes any available borrowing capacity. The Company was in compliance with the covenants of the revolving credit facility as of June 30, 2024 and December 31, 2023, respectively. The Company had an aggregate of $30.4 million of letters of credit outstanding under the revolving credit facility as of June 30, 2024, and the Company’s total available borrowing capacity under the revolving credit facility was $469.6 million as of June 30, 2024. The Company’s letters of credit have final expiration dates through 2036. Convertible senior notes During the first quarter of 2021, the Company issued $695.8 million aggregate principal amount of the 2026 Notes. Additionally, during the first quarter of 2021, the Company issued $693.3 million aggregate principal amount of the 2028 Notes. The Notes were issued in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933. The net proceeds from the sale of the Notes were approximately $1.4 billion after deducting offering and issuance costs related to the Notes. The Notes of each series do not bear regular interest. The Notes of each series may bear special interest as the remedy relating to the Company’s failure to comply with certain of its reporting obligations. The Company has complied with these reporting obligations from the issuance date through June 30, 2024. The 2026 Notes will mature on March 1, 2026, and the 2028 Notes will mature on March 1, 2028, in each case, unless earlier converted, redeemed or repurchased. The initial conversion rate for the 2026 Notes is 26.1458 shares of the Company’s Class A common stock per $1,000 principal amount of such Note, which is equivalent to an initial conversion price of approximately $38.25 per share. The initial conversion rate for the 2028 Notes is 28.2889 shares of Class A common stock per $1,000 principal amount of such Notes, which is equivalent to an initial conversion price of approximately $35.35 per share. The conversion rate for each series of Notes will be subject to adjustment upon the occurrence of certain specified events but will not be adjusted for accrued and unpaid special interest. In addition, upon the occurrence of a make-whole fundamental change (as defined in the relevant indentures governing the Notes) or a notice of redemption, the Company will, in certain circumstances, increase the conversion rate of the relevant series of Notes by a number of additional shares for a holder that elects to convert all or a portion of its Notes of such series in connection with such make-whole fundamental change or who elects to convert such Notes that are subject to such notice of redemption. The conversion rate for the 2026 Notes and the 2028 Notes shall not exceed 43.1406 shares per $1,000 principal amount of such Notes, subject to certain customary anti-dilution adjustments (as defined in the relevant indentures governing the Notes). There have been no changes to the initial conversion price of the Notes since issuance as of June 30, 2024. Upon conversion, the principal portion of the Notes of the applicable series being converted will be settled in cash, and any amount in excess of the principal portion of such Notes will be settled in cash or shares of the Company’s Class A common stock or any combination thereof at the Company’s option. The if-converted value of the 2026 Notes and the 2028 Notes was below the principal value of the respective Notes as of June 30, 2024. In addition, during the three and six months ended June 30, 2024 the conditions allowing holders of the Notes to convert during the following fiscal quarter were not met. Prior to the close of business on the business day immediately preceding December 1, 2025, in the case of the 2026 Notes, and prior to the close of business on the business day immediately preceding December 1, 2027, in the case of the 2028 Notes, the Notes of the applicable series will be convertible only under the following circumstances: (1) during any calendar quarter commencing after June 30, 2021 (and only during such calendar quarter), if the last reported sale price of the Class A common stock for at least 20 trading days (whether or not consecutive) during the 30 consecutive trading day period ending on the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the conversion price for the relevant series of Notes on each applicable trading day; (2) during the five business day period after any five consecutive trading day period in which, for each trading day of that period, the trading price per $1,000 principal amount of 2026 Notes or 2028 Notes, as applicable, for such trading day was less than 98% of the product of the last reported sale price of the Class A common stock and the conversion rate for such series of Notes on each such trading day; (3) if the Company calls any or all of the Notes for redemption, such Notes of the applicable series called for redemption may be converted at any time prior to the close of business on the second scheduled trading day immediately preceding the redemption date; or (4) upon the occurrence of specified corporate transactions. On or after December 1, 2025, in the case of the 2026 Notes, and on or after December 1, 2027, in the case of the 2028 Notes, until the close of business on the second scheduled trading day immediately preceding the relevant maturity date, holders of the relevant series of Notes may convert all or a portion of their Notes of such series regardless of the foregoing conditions. The Company may redeem for cash all or any part of the Notes, at its option, on or after March 6, 2024, in the case of the 2026 Notes, and on or after March 6, 2025, in the case of the 2028 Notes, if the last reported sale price of its Class A common stock has been at least 130% of the conversion price for the relevant series of Notes 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 series of Notes to be redeemed, plus any accrued and unpaid special interest to, but excluding, the redemption date. No sinking fund is provided for the Notes. Upon the occurrence of a fundamental change (as defined in the relevant indentures governing the Notes) prior to the relevant maturity date, holders of the relevant series of Notes may require the Company to repurchase all or a portion of the Notes of such series for cash at a price equal to 100% of the principal amount of the series of Notes to be repurchased, plus any accrued and unpaid special interest to, but excluding, the fundamental change repurchase date. Additionally, and upon events of default (as defined in the relevant indentures governing the Notes), the maturity of the Notes may be accelerated. The Notes are the Company’s general unsecured obligations and will rank senior in right of payment to any existing and future indebtedness that is contractually subordinated to the Notes; rank equal in right of payment with the Company’s existing and future senior unsecured indebtedness that is not so subordinated; effectively rank junior in right of payment to any of the Company’s existing and future secured indebtedness to the extent of the value of the assets securing such indebtedness; and be structurally subordinated to all indebtedness and other liabilities (including trade payables) of subsidiaries of the Company. In accounting for the Notes, issuance costs of $11.0 million and $11.0 million for the 2026 Notes and the 2028 Notes, respectively, were deducted from the carrying value of the Notes in the consolidated balance sheet. Issuance costs will be recognized as interest expense over the five-year term and seven-year term for the 2026 Notes and the 2028 Notes, respectively. The following is a summary of the Notes as of June 30, 2024 and December 31, 2023. 2026 Notes 2028 Notes Total June 30, 2024 Principal balance $ 695.8 $ 693.3 $ 1,389.1 Unamortized issuance costs (3.7) (5.7) (9.4) Carrying value, net $ 692.1 $ 687.6 $ 1,379.7 December 31, 2023 Principal balance $ 695.8 $ 693.3 $ 1,389.1 Unamortized issuance costs (4.8) (6.5) (11.3) Carrying value, net $ 691.0 $ 686.8 $ 1,377.8 During the three months ended June 30, 2024 and 2023, the Company recognized $0.6 million and $0.5 million in interest expense for the 2026 Notes and $0.4 million and $0.4 million in interest expense for the 2028 Notes, respectively, with such interest expense solely consisting of amortization of issuance costs. During the six months ended June 30, 2024 and 2023, the Company recognized $1.1 million and $1.1 million in interest expense for the 2026 Notes and $0.8 million and $0.8 million in interest expense for the 2028 Notes, respectively, with such interest expense solely consisting of amortization of issuance costs. The effective interest rate for the 2026 Notes and the 2028 Notes was 0.32% and 0.22%, respectively, as of June 30, 2024. Maturities on the Company's long-term convertible debt are as follows: Convertible Debt Remainder of 2024 $ — 2025 — 2026 695.8 2027 — 2028 693.3 2029 — Thereafter — Total $ 1,389.1 Convertible Note Hedges and Warrants Concurrent with the offering of the Notes, the Company entered into convertible note hedge transactions with certain counterparties whereby the Company had the option to purchase a total of approximately 18.2 million shares for note hedges expiring in March 2026 (the “2026 Note Hedges”) and 19.6 million shares for note hedges expiring in March 2028 (the “2028 Note Hedges”, together with the 2026 Note Hedges, the “Note Hedges”), respectively, of its Class A common stock at a price of approximately $38.25 and $35.35 per share, respectively. The aggregate cost of the convertible note hedge transactions was $265.3 million. The Note Hedges, or a portion thereof, are exercisable upon conversion of the Notes and the satisfaction of certain conditions set forth in the Note Hedges. Additionally, the Note Hedges may be terminated and early settled upon the occurrence of certain events, including certain merger events, events of default, and upon a fundamental change (as defined in the relevant indentures for the Notes). The Note Hedges are settleable in cash, shares or a combination of cash and shares, at the option of the Company, and the settlement alternative will be the same as the settlement alternative of the conversion spread for the respective Notes. The convertible note hedge transactions are expected generally to reduce the potential dilution to the Class A common stock upon conversion of the relevant series of Notes and/or offset any cash payments the Company is required to make in excess of the principal amount of such converted Notes, as the case may be, in the event that the market price per share of the Class A common stock, as measured under the terms of the convertible note hedge transactions, is greater than the applicable strike price of those convertible note hedge transactions. As of June 30, 2024, the Company’s stock price was below the exercise price of the respective Note Hedges. In addition, the Company sold warrants to certain counterparties whereby the holders of the warrants had the option to purchase a total of approximately 18.1 million shares of Class A common stock underlying such warrants expiring in 2026 (the “2026 Warrants”) and 20.1 million shares of Class A common stock underlying such warrants expiring in 2028 (the “2028 Warrants”, together with the 2026 Warrants, the “Warrants”), respectively, at an initial strike price of $46.36 and $46.36 per share, respectively. The Company received aggregate cash proceeds of $202.9 million from the sale of these Warrants. If the market price per share of the Company’s Class A common stock, as measured under the terms of the Warrants, exceeds the strike price of the Warrants, the Warrants could have a dilutive effect, unless the Company elects, subject to certain conditions, to settle the Warrants in cash. The Warrants are only exercisable on the applicable expiration dates in accordance with the terms of the Warrants. Subject to the other terms of the Warrants, the first expiration date applicable to the 2026 Warrants and to the 2028 Warrants is June 1, 2026, and June 1, 2028, respectively, and the final expiration date applicable to the 2026 Warrants and 2028 Warrants is August 10, 2026 and August 10, 2028, respectively. As of June 30, 2024, the Company’s Class A common stock price was below the exercise price of the Warrants. Taken together, the purchase of the Note Hedges and the sale of the Warrants are intended to reduce potential dilution from the conversion of the 2026 Notes and the 2028 Notes, and to effectively increase the overall conversion price from $38.25 per share to $46.36 per share and from $35.35 per share to $46.36 for the 2026 Notes and the 2028 Notes, respectively. The Note Hedges and the Warrants are equity-classified instruments as a result of being indexed to the Company’s Class A common stock and meeting certain equity classification criteria, and the instruments will not be remeasured in subsequent periods as long as the instruments continue to meet these accounting criteria. The premium paid for the Note Hedges has been included as a net reduction to additional paid-in capital within stockholders’ deficit, and the premium received for the Warrants has been included as a net increase to additional paid-in capital within stockholders' deficit.

Leases

Leases	6 Months Ended
	Jun. 30, 2024
Leases [Abstract]
Leases	Leases The Company has operating leases for corporate offices and datacenters, and finance leases for infrastructure and office equipment. The Company’s leases have remaining lease terms of under 1 year to 12 years, some of which include options to extend the leases for up to 5 years. The Company also has subleases for several floors of its corporate offices. The Company classifies its subleases as operating leases. The subleases have remaining lease terms of 1 year to 9 years, some of which include options to extend the sublease for up to approximately 4 years. Sublease income, which is recorded as a reduction of rental expense, was $3.5 million and $7.0 million during the three and six months ended June 30, 2024, respectively, and $3.8 million and $8.2 million during the three and six months ended June 30, 2023, respectively. Future minimum lease payments under non-cancellable leases as of June 30, 2024 were as follows: Operating leases (1) Finance leases Remainder of 2024 $ 34.7 $ 69.6 2025 78.8 107.8 2026 41.8 79.8 2027 41.2 43.2 2028 39.9 5.7 2029 39.3 — Thereafter 139.4 — Total future minimum lease payments $ 415.1 $ 306.1 Less imputed interest (71.1) (23.4) Total liability $ 344.0 $ 282.7 (1) Consists of future non-cancelable minimum rental payments under operating leases for the Company’s corporate offices and datacenters where the Company has possession, excluding rent payments for short-term lease obligations, payments from the Company’s subtenants and variable operating expenses. Future non-cancelable rent payments from the Company's subtenants as of June 30, 2024 were as follows: Operating leases Remainder of 2024 $ 8.7 2025 12.3 2026 8.2 2027 7.8 2028 7.7 2029 5.0 Thereafter 13.7 Total future sublease rent payments, net 63.4 In 2017, the Company signed a 15 year lease agreement for office space in San Francisco, California, to serve as its corporate headquarters which commenced in 2018. The Company's obligations under the lease are supported by a $17.5 million letter of credit, which reduced the Company's borrowing capacity under the revolving credit facility. As of June 30, 2024, the Company's remaining minimum obligation under the lease for its headquarters was $179.5 million. In the fourth quarter of 2020, the Company announced a Virtual First work model pursuant to which remote work has become the primary experience for all of its employees. As part of the Virtual First strategy, the Company retained a portion of its office space to be used for the Company’s team collaboration use and a portion was marketed for sublease. In connection with these changes, the Company evaluated certain of its right-of-use assets and other lease related property and equipment assets including leasehold improvements, furniture and fixtures, and computer equipment for impairment under ASC 360. As part of this analysis, the Company reassessed its real estate asset groups and estimated the fair value of the office space to be subleased using current market conditions. Where the carrying value of the individual asset groups exceeded their fair value, an impairment charge was recognized for the difference. During the three and six months ended June 30, 2024, the Company did not recognize any impairment charges, compared to $2.2 million during the three and six months ended June 30, 2023, related to right-of-use assets and other lease related property and equipment assets. In the fourth quarter of 2023, the Company executed an amendment to the lease ("the lease amendment") for its San Francisco, California corporate headquarters, whereby the Company has already or will surrender to the landlord approximately 165,000 square feet of office space and pay an aggregate of $79.0 million in termination payments. The termination fees occur in three tranches: approximately 52,000 square feet and $28.1 million paid in October 2023 upon the execution of the lease amendment, 54,000 square feet and $14.9 million paid in June 2024, and the remaining 59,000 feet and $36.0 million paid in January 2025. As of June 30, 2024, the Company had $76.2 million in commitments for leases that have not yet commenced, and therefore is not included in the right-of-use asset or lease liability. These leases will commence in 2025, with lease terms of 7 years .
Leases	Leases The Company has operating leases for corporate offices and datacenters, and finance leases for infrastructure and office equipment. The Company’s leases have remaining lease terms of under 1 year to 12 years, some of which include options to extend the leases for up to 5 years. The Company also has subleases for several floors of its corporate offices. The Company classifies its subleases as operating leases. The subleases have remaining lease terms of 1 year to 9 years, some of which include options to extend the sublease for up to approximately 4 years. Sublease income, which is recorded as a reduction of rental expense, was $3.5 million and $7.0 million during the three and six months ended June 30, 2024, respectively, and $3.8 million and $8.2 million during the three and six months ended June 30, 2023, respectively. Future minimum lease payments under non-cancellable leases as of June 30, 2024 were as follows: Operating leases (1) Finance leases Remainder of 2024 $ 34.7 $ 69.6 2025 78.8 107.8 2026 41.8 79.8 2027 41.2 43.2 2028 39.9 5.7 2029 39.3 — Thereafter 139.4 — Total future minimum lease payments $ 415.1 $ 306.1 Less imputed interest (71.1) (23.4) Total liability $ 344.0 $ 282.7 (1) Consists of future non-cancelable minimum rental payments under operating leases for the Company’s corporate offices and datacenters where the Company has possession, excluding rent payments for short-term lease obligations, payments from the Company’s subtenants and variable operating expenses. Future non-cancelable rent payments from the Company's subtenants as of June 30, 2024 were as follows: Operating leases Remainder of 2024 $ 8.7 2025 12.3 2026 8.2 2027 7.8 2028 7.7 2029 5.0 Thereafter 13.7 Total future sublease rent payments, net 63.4 In 2017, the Company signed a 15 year lease agreement for office space in San Francisco, California, to serve as its corporate headquarters which commenced in 2018. The Company's obligations under the lease are supported by a $17.5 million letter of credit, which reduced the Company's borrowing capacity under the revolving credit facility. As of June 30, 2024, the Company's remaining minimum obligation under the lease for its headquarters was $179.5 million. In the fourth quarter of 2020, the Company announced a Virtual First work model pursuant to which remote work has become the primary experience for all of its employees. As part of the Virtual First strategy, the Company retained a portion of its office space to be used for the Company’s team collaboration use and a portion was marketed for sublease. In connection with these changes, the Company evaluated certain of its right-of-use assets and other lease related property and equipment assets including leasehold improvements, furniture and fixtures, and computer equipment for impairment under ASC 360. As part of this analysis, the Company reassessed its real estate asset groups and estimated the fair value of the office space to be subleased using current market conditions. Where the carrying value of the individual asset groups exceeded their fair value, an impairment charge was recognized for the difference. During the three and six months ended June 30, 2024, the Company did not recognize any impairment charges, compared to $2.2 million during the three and six months ended June 30, 2023, related to right-of-use assets and other lease related property and equipment assets. In the fourth quarter of 2023, the Company executed an amendment to the lease ("the lease amendment") for its San Francisco, California corporate headquarters, whereby the Company has already or will surrender to the landlord approximately 165,000 square feet of office space and pay an aggregate of $79.0 million in termination payments. The termination fees occur in three tranches: approximately 52,000 square feet and $28.1 million paid in October 2023 upon the execution of the lease amendment, 54,000 square feet and $14.9 million paid in June 2024, and the remaining 59,000 feet and $36.0 million paid in January 2025. As of June 30, 2024, the Company had $76.2 million in commitments for leases that have not yet commenced, and therefore is not included in the right-of-use asset or lease liability. These leases will commence in 2025, with lease terms of 7 years .

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Legal matters From time-to-time, the Company is a party to a variety of claims, lawsuits, investigations, inquiries, and proceedings which arise in the ordinary course of business, including claims of alleged infringement of intellectual property rights, regulatory matters, and commercial disputes. The Company records a liability when it believes that it is probable that a loss will be incurred and the amount of loss or range of loss can be reasonably estimated. In its opinion, resolution of pending matters is not likely to have a material adverse impact on its consolidated results of operations, cash flows, or its financial position. Given the unpredictable nature of legal proceedings, the Company bases its estimate on the information available at the time of the assessment. As additional information becomes available, the Company reassesses the potential liability and may revise the estimate. Indemnification The Company’s arrangements generally include certain provisions for indemnifying customers against liabilities if its products or services infringe a third party’s intellectual property rights. It is not possible to determine the maximum potential amount under these indemnification obligations due to the limited history of prior indemnification claims. Other commitments

Accrued and Other Current Liabi

Accrued and Other Current Liabilities	6 Months Ended
	Jun. 30, 2024
Payables and Accruals [Abstract]
Accrued and Other Current Liabilities	Accrued and Other Current Liabilities Accrued and other current liabilities consisted of the following: As of June 30, 2024 December 31, 2023 Non-income taxes payable $ 59.9 $ 61.3 Accrued legal and other external fees 27.9 28.8 Acquisition indemnification holdbacks 17.1 16.9 Other accrued and current liabilities 46.7 48.2 Total accrued and other current liabilities $ 151.6 $ 155.2

Stockholders_ Deficit

Stockholders’ Deficit	6 Months Ended
	Jun. 30, 2024
Stockholders' Equity Note [Abstract]
Stockholders’ Deficit	Stockholders’ Deficit Common stock The Company’s amended and restated certificate of incorporation authorizes the issuance of Class A common stock, Class B common stock, and Class C common stock. Holders of Class A common stock, Class B common stock, and Class C common stock are entitled to dividends on a pro rata basis, when, as, and if declared by the Company’s Board of Directors, subject to the rights of the holders of the Company’s preferred stock. Holders of Class A common stock are entitled to one vote per share, holders of Class B common stock are entitled to 10 votes per share, and holders of Class C common stock are entitled to zero votes per share. As of June 30, 2024, the Company had authorized 2,400.0 million shares of Class A common stock, 475.0 million shares of Class B common stock, and 800.0 million shares of Class C common stock, each at par value of $0.00001. Holders of Class B common stock voluntarily converted 0.3 million and 1.0 million shares during the three and six months ended June 30, 2024, respectively, and 0.5 million and 1.0 million shares into an equivalent number of shares of Class A common stock during the three and six months ended June 30, 2023, respectively. As of June 30, 2024, 238.9 million shares of Class A common stock, 79.8 million shares of Class B common stock, and no shares of Class C common stock were issued and outstanding. As of December 31, 2023, 256.0 million shares of Class A common stock, 80.7 million shares of Class B common stock, and no shares of Class C common stock were issued and outstanding. Class A shares issued and outstanding as of June 30, 2024 and December 31, 2023 exclude unvested restricted stock awards granted to certain executives. Class A shares issued and outstanding also exclude 8.3 million unvested restricted stock awards granted to one of the Company's co-founders as of June 30, 2024 and December 31, 2023, resp ectively. See "Co-Founder Grant" section below for further details. Preferred stock The Company's Board of Directors will have the authority, without further action by the Company's stockholders, to issue up to 240.0 million shares of undesignated preferred stock with rights and preferences, including voting rights, designated from time-to-time by the Board of Directors. Stock repurchase program In February 2022, the Board of Directors authorized the Company to repurchase up to $1.2 billion of the Company's outstanding shares of Class A common stock. In July 2023, the Board of Directors further authorized the repurchase of up to an additional $1.2 billion of the outstanding shares of our Class A common stock. The Company completed the February 2022 authorization of $1.2 billion during the three months ended March 31, 2024 and continued stock repurchases under the July 2023 authorization. Share repurchases will be made from time-to-time in private transactions or open market purchases, as permitted by securities laws and other legal requirements and will be subject to a review of the circumstances in place at that time, including prevailing market prices. The program does not obligate the Company to repurchase any specific number of shares and may be discontinued at any time. During the three and six months ended June 30, 2024, the Company repurchased and subsequently retired 11.3 million and 22.4 million shares of its Class A common stock, respectively, for an aggregate amount of $262.2 million and $543.8 million, respectively . During the three and six months ended June 30, 2023, the Company repurchased and subsequently retired 6.9 million and 15.0 million shares of its Class A common stock, respectively, for an aggregate amount of $155.2 million and $331.7 million, respectively . During the three and six months ended June 30, 2024 and 2023, i ncluded in the cost of treasury stock acquired pursuant to common share repurchases, is the 1% excise tax imposed as part of the Inflation Reduction Act. Equity incentive plans Under the 2018 Plan, the Company may grant stock-based awards to purchase or directly issue shares of common stock to employees, directors, and consultants. Options are granted at a price per share equal to the fair market value of the Company's common stock at the date of grant. Options granted are exercisable over a maximum term of 10 years from the date of grant and generally vest over a period of four years. RSUs and RSAs are also granted under the 2018 Plan. The 2018 Plan will terminate 10 years after the later of (i) its adoption or (ii) the most recent stockholder-approved increase in the number of shares reserved under the 2018 Plan, unless terminated earlier by the Company's Board of Directors. The 2018 Plan was adopted on March 22, 2018. In connection with the acquisition of DocSend, the Company assumed unvested stock options and an immaterial number of unvested RSUs that had been granted under DocSend's 2013 Stock Plan and DocSend's 2015 Stock Option and Grant Plan. As of June 30, 2024, there were 35.7 million stock-based awards issued and outstanding and 117.3 million shares available for issuance under the Dropbox Equity Incentive Plans, Dropbox Sign's 2011 Equity Incentive Plan, DocSend's 2013 Stock Plan and DocSend's 2015 Stock Option and Grant Plan (collectively, the "Plans"). Stock option and restricted stock activity for the Plans was as follows for the six months ended June 30, 2024: Options outstanding Restricted stock Number of Number of Weighted- Weighted- Aggregate intrinsic value Number of Weighted- Balance at December 31, 2023 110.0 0.2 $ 13.54 3.9 $ 2.2 30.4 $ 23.16 Additional shares authorized 16.8 — — — — — — Options exercised and restricted stock units and awards released — — — — — (7.1) 23.45 Options and restricted stock units and awards canceled 3.2 — — — — (3.2) 23.90 Shares withheld related to net share settlement of restricted stock units and awards 2.7 — — — — — — Options and restricted stock units and awards granted (15.4) — — — — 15.4 24.53 Balance as of June 30, 2024 117.3 0.2 $ 14.67 3.3 $ 0.9 35.5 $ 23.63 Vested at June 30, 2024 0.2 $ 14.67 3.3 $ 0.9 — $ — Unvested at June 30, 2024 — $ — — $ — 35.5 $ 23.63 The following table summarizes information about the pre-tax intrinsic value of options exercised during the three and six months ended June 30, 2024 and 2023: Three Months Ended Six Months Ended 2024 2023 2024 2023 Intrinsic value of options exercised $ 0.2 $ 1.3 $ 0.4 $ 2.2 As of June 30, 2024, unamortized stock-based compensation related to unvested stock options, restricted stock awards (excluding the Co-Founder Grant), and RSUs was $822.1 millio n. The weighted-average period over which such compensation expense will be recognized if the requisite service is provided is approximately 2.8 years as of June 30, 2024. Co-Founder Grant In December 2017, the Board of Directors approved the Company's Co-Founder Grant, consisting of 10.3 million shares of Class A common stock in the form of RSAs which were granted to Drew Houston, the Company’s co-founder and Chief Executive Officer. This Co-Founder Grant has service-based, market-based, and performance-based vesting conditions. The Co-Founder Grant is excluded from Class A common stock issued and outstanding until the satisfaction of these vesting conditions. The Co-Founder Grant also provides the holder with certain stockholder rights, such as the right to vote the shares with the other holders of Class A common stock and a right to cumulative declared dividends. The Co-Founder Grant is eligible to vest over the ten-year period following the date the Company’s shares of Class A common stock commenced trading on the Nasdaq Global Select Market in connection with the Company’s IPO. The Co-Founder Grant is comprised of nine tranches that are eligible to vest based on the achievement of stock price goals, each of which are referred to as a Stock Price Target, measured over a consecutive thirty-day trading period during the Performance Period. The Performance Period began on January 1, 2019. During the first four years of the Performance Period, no more than 20% of the shares subject to the Co-Founder Grant would be eligible to vest in any calendar year. After the first four years, all shares are eligible to vest based on the achievement of the Stock Price Targets. The first tranche of the Co-Founder Grant, or 2.1 million shares of Class A common stock, vested in the fourth quarter of 2021. The stock-based compensation expense for Mr. Houston's Co-Founder Grant is recognized utilizing the accelerated attribution method over the requisite service period identified as the derived service period over which the market conditions are expected to be achieved, and is not reversed if the market conditions are not satisfied. Therefore no incremental stock-based compensation was recognized upon vesting of these RSAs. The Company recognized stock-based compensation expense related to the Co-Founder Grant of $0.7 million and $1.8 million during the three and six months ended June 30, 2024, respectively, and $2.0 and $4.2 during the three and six months ended June 30, 2023, respectively. As of June 30, 2024, unamortized stock-based compensation expense related to the Co-Founder Grant was $0.6 million.

Net Income Per Share

Net Income Per Share	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Net Income Per Share	Net Income Per Share The Company computes net income per share using the two-class method required for multiple classes of common stock and participating securities. The rights, including the liquidation and dividend rights, of the Class A common stock and Class B common stock are substantially identical, other than voting rights. Accordingly, the Class A common stock and Class B common stock share equally in the Company’s net income and losses. Basic net income per share is computed by dividing net income attributable to common stockholders by the weighted-average number of shares of the Class A and Class B common stock outstanding. Diluted net income per share is computed by dividing net income attributable to common stockholders by the weighted-average number of diluted common shares outstanding. The computation of the diluted net income per share of Class A common stock assumes the conversion of the Company's Class B common stock to Class A common stock, while the diluted net income per share of Class B common stock does not assume the conversion of those shares to Class A common stock. The dilutive effect of potentially dilutive common shares is reflected in diluted earnings per share by application of the if-converted method for the 2026 Notes and the 2028 Notes, and by application of the treasury stock method for the Company's other potentially dilutive securities. The numerators and denominators of the basic and diluted EPS computations for the Company's common stock are calculated as follows (in millions, except for per share amounts): Three Months Ended 2024 2023 Class A Class B Class A Class B Basic net income per share: Numerator Net income attributable to common stockholders $ 83.1 $ 27.4 $ 32.9 $ 10.3 Denominator Weighted-average number of common shares outstanding used in computing basic net income per share 242.5 79.9 260.0 81.4 Net income per common share, basic $ 0.34 $ 0.34 $ 0.13 $ 0.13 Diluted net income per share: Numerator Net income attributable to common stockholders $ 83.1 $ 27.4 $ 32.9 $ 10.3 Reallocation of net income as a result of conversion of Class B to Class A common stock 27.4 — 10.3 — Reallocation of net income to Class B common stock — (0.2) — (0.1) Net income attributable to common stockholders for diluted EPS $ 110.5 $ 27.2 $ 43.2 $ 10.2 Denominator Weighted-average number of common shares outstanding used in computing basic net income per share 242.5 79.9 260.0 81.4 Weighted-average effect of dilutive restricted stock units and awards and employee stock options 1.3 — 2.4 — Conversion of Class B to Class A common stock 79.9 — 81.4 — Weighted-average number of common shares outstanding used in computing diluted net income per share 323.7 79.9 343.8 81.4 Net income per common share, diluted $ 0.34 $ 0.34 $ 0.13 $ 0.13 Six Months Ended 2024 2023 Class A Class B Class A Class B Basic net income per share: Numerator Net income attributable to common stockholders $ 183.5 $ 59.3 $ 85.6 $ 26.6 Denominator Weighted-average number of common shares outstanding used in computing basic net income per share 248.4 80.2 262.6 81.6 Net income per common share, basic $ 0.74 $ 0.74 $ 0.33 $ 0.33 Diluted net income per share: Numerator Net income attributable to common stockholders $ 183.5 $ 59.3 $ 85.6 $ 26.6 Reallocation of net income as a result of conversion of Class B to Class A common stock 59.3 — 26.6 — Reallocation of net income to Class B common stock — (0.7) — (0.2) Net income attributable to common stockholders for diluted EPS $ 242.8 $ 58.6 $ 112.2 $ 26.4 Denominator Weighted-average number of common shares outstanding used in computing basic net income per share 248.4 80.2 262.6 81.6 Weighted-average effect of dilutive restricted stock units and awards and employee stock options 3.8 — 2.6 — Conversion of Class B to Class A common stock 80.2 — 81.6 — Weighted-average number of common shares outstanding used in computing diluted net income per share 332.4 80.2 346.8 81.6 Net income per common share, diluted $ 0.73 $ 0.73 $ 0.32 $ 0.32 The weighted-average impact of potentially dilutive securities that were not included in the diluted per share calculations because they would be anti-dilutive was as follows: Three Months Ended Six Months Ended 2024 2023 2024 2023 Restricted stock units and awards 18.9 15.4 4.6 15.7 Options to purchase shares of common stock — 0.1 — 0.1 Co-Founder Grant 8.3 8.3 8.3 8.3 Convertible Senior Notes 37.8 37.8 37.8 37.8 Warrants 37.8 37.8 37.8 37.8 Total 102.8 99.4 88.5 99.7

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company computed the year-to-date income tax provision by applying the estimated annual effective tax rate to the year-to-date pre-tax income and adjusting for discrete tax items in the period. The Company's provision for income taxes was $23.1 million and $41.9 million for the three and six months ended June 30, 2024, respectively, and $15.8 million and $34.4 million for the three and six months ended June 30, 2023, respectively. For the three and six months ended June 30, 2024 , and June 30, 2023 , the difference between the U.S. statutory rate and the Company's effective tax rate was primarily due to jurisdictional mix of earnings, tax credits, and state income taxes. The Company periodically evaluates the realizability of its net deferred tax assets based on all available evidence, both positive and negative. The realization of net deferred tax assets is dependent on the Company's ability to generate sufficient future taxable income during periods prior to the expiration of tax attributes to fully utilize these assets. As of June 30, 2024, the Company continues to maintain valuation allowances against its deferred tax assets in certain states and one foreign jurisdiction. The Company is subject to income tax audits in the U.S. and foreign jurisdictions. The Company records liabilities related to uncertain tax positions and believes that it has provided adequate reserves for income tax uncertainties in all open tax years. Unrecognized tax benefits increased by $11.6 million during the six months ended June 30, 2024. The increase was primarily driven by a gross increase in unrecognized tax benefits related to tax positions taken in the period of approximately $11.4 million, of which $8.7 million, if recognized, would affect the Company's effective tax rate and $2.7 million would result in adjustment to deferred tax assets with corresponding adjustments to the valuation allowance. It is reasonably possible that there could be changes to the amount of uncertain tax positions due to activities of the taxing authorities, settlement of audit issues, reassessment of existing uncertain tax positions, or the expiration of applicable statutes of limitations; however, the Company is not able to estimate the impact of these items at this time. The Organization for Economic Cooperation and Development (“OECD”) and many countries have proposed to reallocate some portion of profits of large multinational companies with global revenues exceeding EUR20 billion to markets where sales arise (“Pillar One”), as well as enact a global minimum tax rate of at least 15% for multinationals with global revenue exceeding EUR750 million (“Pillar Two”), and many countries are considering or have begun to adopt these proposals. In December 2022, the Council of the European Union (“EU”) formally adopted the EU Minimum Tax Directive, which would require member states to adopt Pillar Two into their domestic law effective for fiscal years starting on or after December 31, 2023. Ireland and certain jurisdictions in which the Company operates have enacted legislation to implement Pillar Two. Other countries are actively considering changes to their tax laws to adopt certain parts of the OECD’s proposals. The enactment of Pillar Two legislation is not expected to have a material adverse effect on the Company's effective tax rate, financial position, results of operations, and cash flows. The Company will continue to monitor and reflect the impact of such legislative changes in future financial statements as appropriate.

Geographic Areas

Geographic Areas	6 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
Geographic Areas	Geographic Areas Long-lived assets The following table sets forth long-lived assets by geographic area: As of June 30, 2024 December 31, 2023 United States $ 317.2 $ 302.4 International (1) $ 6.5 $ 6.8 Total property and equipment, net $ 323.7 $ 309.2 (1) No single country other than the United States had a property and equipment balance greater than 10% of total property and equipment, net, as of June 30, 2024 and December 31, 2023. Revenue Revenue by geography is generally based on the address of the customer as defined in the Company’s subscription agreement. The following table sets forth revenue by geographic area for the three and six months ended June 30, 2024 and 2023. Three Months Ended Six Months Ended 2024 2023 2024 2023 United States $ 361.7 $ 353.7 $ 720.0 $ 699.6 International (1) 272.8 268.8 545.8 534.0 Total revenue $ 634.5 $ 622.5 $ 1,265.8 $ 1,233.6 (1) No single country outside of the United States accounted for more than 10% of total revenue during the three and six months ended June 30, 2024 and 2023, respectively.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net income attributable to common stockholders	$ 110.5	$ 43.2	$ 242.8	$ 112.2

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	6 Months Ended
	Jun. 30, 2024 shares	Jun. 30, 2024 shares
Trading Arrangements, by Individual
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Tim Regan [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On May 15, 2024, Tim Regan, our Chief Financial Officer, adopted a Rule 10b5-1 trading arrangement providing for the sale from time-to-time of an aggregate of up to 125,000 shares of our Class A common stock, although we expect the total number of such shares sold will ultimately be less than this amount due to withholding for applicable taxes. The trading arrangement is intended to satisfy the affirmative defense in Rule 10b5-1(c). The duration of the trading arrangement is until September 2, 2025, or earlier if all transactions under the trading arrangement are completed.
Name	Tim Regan
Title	Chief Financial Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	May 15, 2024
Expiration Date	September 2, 2025
Arrangement Duration	475 days
Aggregate Available	125,000	125,000

Description of the Business a_2

Description of the Business and Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of presentation	The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the United States of America generally accepted accounting principles (“GAAP”) and applicable rules and regulations of the SEC regarding interim financial reporting. The accompanying unaudited condensed consolidated financial statements include the accounts of Dropbox and its wholly owned subsidiaries.
Consolidation	All intercompany balances and transactions have been eliminated in consolidation.The condensed consolidated balance sheet as of December 31, 2023 included herein was derived from the audited financial statements as of that date. The unaudited condensed consolidated financial statements reflect all normal recurring adjustments necessary to present fairly the balance sheets, statements of operations, statements of comprehensive income, statements of stockholders' deficit and the statements of cash flows for the interim periods, but are not necessarily indicative of the results of operations to be anticipated for the full fiscal year ended December 31, 2024 or any future period.
Use of estimates	Use of estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported and disclosed in the Company’s condensed consolidated financial statements and accompanying notes. These estimates are based on information available as of the date of the condensed consolidated financial statements. Management evaluates these estimates and assumptions on a regular basis. Actual results may differ materially from these estimates. The Company’s most significant estimates and judgments are related to the valuation of right-of-use and other lease related property and equipment assets as well as income taxes. four
Financial information about segments and geographic areas	Financial information about segments and geographic areas
Foreign currency transactions	Foreign currency transactions The assets and liabilities of the Company’s foreign subsidiaries are translated from their respective functional currencies into U.S. dollars at the exchange rates in effect at the balance sheet date. Revenue and expense amounts are translated at the average exchange rate for the period. Foreign currency translation gains and losses are recorded in other comprehensive income, net of tax.
Revenue recognition, Cost of revenue, and Deferred commissions, net	Revenue recognition The Company derives its revenue from subscription fees from customers for access to its platform. The Company’s policy is to exclude sales and other indirect taxes when measuring the transaction price of its subscription agreements. The Company accounts for revenue contracts with customers through the following steps: • Identification of the contract, or contracts, with a customer • Identification of the performance obligations in the contract • Determination of the transaction price • Allocation of the transaction price to the performance obligations in the contract • Recognition of revenue when, or as, the Company satisfies a performance obligation The Company’s subscription agreements are generally non-cancelable and have monthly or annual contractual terms with a small percentage having multi-year contractual terms. Revenue is recognized ratably over the related contractual term beginning on the date that the platform is made available to a customer. Access to the platform represents a series of distinct services as the Company continually provides access to, and fulfills its obligation to the end customer over the subscription term. The series of distinct services represents a single performance obligation that is satisfied over time. The Company recognizes revenue ratably because the customer receives and consumes the benefits of the platform throughout the contract period. The Company bills in advance for monthly contracts and typically bills annually in advance for contracts with terms of one year or longer. The Company also recognizes an immaterial amount of contract assets, or unbilled receivables, primarily related to consideration for services completed but not billed at the reporting date. Unbilled receivables are classified as receivables when the Company has the right to invoice the customer. The Company records contract liabilities when cash payments are received or due in advance of performance to deferred revenue. Deferred revenue primarily relates to the advance consideration received from the customer. The price of subscriptions is generally fixed at contract inception and therefore, the Company’s contracts do not contain a significant amount of variable consideration. As a result, the amount of revenue recognized in the periods presented from performance obligations satisfied (or partially satisfied) in previous periods was not material. Cost of revenue Cost of revenue consists primarily of expenses associated with the storage, delivery, and distribution of the Company’s platform for both paying users and free users. These costs, which are referred to as infrastructure costs, include depreciation of servers located in co-location facilities that the Company leases and operates, rent and facilities expense for those datacenters, network and bandwidth costs, support and maintenance costs for infrastructure equipment, and payments to third-party datacenter service providers. Cost of revenue also includes salaries, bonuses, benefits, travel-related expenses, and stock-based compensation, which are referred to as employee-related costs, for employees whose primary responsibilities relate to supporting the Company’s infrastructure and delivering user support. Other non-employee costs included in cost of revenue include credit card fees related to processing customer transactions and allocated overhead, such as facilities, including rent, utilities, depreciation on leasehold improvements and other equipment shared by all departments, and shared information technology costs. In addition, cost of revenue includes amortization of developed technologies, professional fees related to user support initiatives, and property taxes related to the datacenters. Deferred commissions, net
Stock-based compensation	Stock-based compensation The Company has primarily granted restricted stock units (“RSUs”) to its employees and members of the Board of Directors under the 2008 Equity Incentive Plan (“2008 Plan”), the 2017 Equity Incentive Plan (“2017 Plan”), and the 2018 Equity Incentive Plan (“2018 Plan” and together with the 2008 Plan and 2017 Plan, the "Dropbox Equity Incentive Plans”). Since August 2015, the Company has granted RSUs, which have a service based vesting condition over a four-year period vesting quarterly, as the only stock-based awards to its employees, with the exception of restricted stock awards ("RSAs") granted to its co-founder and certain executives, and has not granted any stock options to employees under the Dropbox Equity Incentive Plans. The Company recognizes compensation expense associated with RSUs on a straight-line basis over the requisite service period and accounts for forfeitures in the period in which they occur. The Board of Directors determines the fair value of each share of underlying common stock based on the closing price of the Company's Class A common stock as reported on the Nasdaq Global Select Market on the date of the grant. In December 2017, the Board of Directors approved the Company’s Co-Founder Grant, consisting of 10.3 million shares of Class A Common Stock in the form of RSAs which were granted to Drew Houston, the Company’s co-founder and Chief Executive Officer. This Co-Founder Grant has service-based, market-based, and performance-based vesting conditions. The Co-Founder Grant is excluded from Class A common stock issued and outstanding until the satisfaction of these vesting conditions. The Company estimated the grant date fair value of the Co-Founder Grant using a model based on multiple stock price paths developed through the use of a Monte Carlo simulation that incorporates into the valuation the possibility that certain stock price targets may not be satisfied. The first tranche of the Co-Founder Grant vested in the fourth quarter of 2021. The stock-based compensation expense for the Co-Founder Grant is recognized utilizing the accelerated attribution method over the requisite service period identified as the derived service period over which the market conditions are expected to be achieved, and is not reversed if the market conditions are not satisfied. Therefore no incremental stock-based compensation was recognized upon vesting of these RSAs. See Note 11, "Stockholders' Deficit" to the Company's condensed consolidated financial statements included elsewhere in this Quarterly Report on Form 10-Q for further information.
Cash and cash equivalents	Cash and cash equivalents Cash consists primarily of cash on deposit with banks and includes amounts in transit from payment processors for credit and debit card transactions, which typically settle within five business days. Cash equivalents include highly liquid investments purchased with an original maturity date of 90 days or less from the date of purchase. The Company monitors its credit risk by considering factors such as historical experience, credit ratings, current economic conditions, and reasonable and supportable forecasts.
Short-term investments	Short-term investments The Company’s short-term investments are primarily comprised of corporate notes and obligations, U.S. Treasury securities, certificates of deposit, asset-backed securities, commercial paper, U.S. agency obligations, foreign government securities, supranational securities, and municipal securities. The Company determines the appropriate classification of its short-term investments at the time of purchase and reevaluates such designation at each balance sheet date. The Company has classified and accounted for its short-term investments as available-for-sale securities as the Company may sell these securities at any time for use in its current operations or for other purposes, even prior to maturity. As a result, the Company classifies its short-term investments, including securities with stated maturities beyond twelve months, within current assets in the condensed consolidated balance sheets.
Concentrations of credit risk	Concentrations of credit risk Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash, cash equivalents, accounts receivable, and short-term investments. Although the Company deposits its cash and cash equivalents with multiple well-established financial institutions, the deposits, at times, may exceed federally insured limits. The Company has not experienced any losses on its deposits of cash and cash equivalents and management believes that the institutions where the Company has deposits are financially stable and, accordingly, minimal credit risk exists.
Property and equipment, net	Property and equipment, net Equipment is stated at cost less accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful life of the related asset, which is generally three The following table presents the estimated useful lives of property and equipment: Property and equipment Useful life Datacenter and other computer equipment 3 to 5 years Office equipment and other 3 to 7 years Leasehold improvements Lesser of estimated useful life or remaining lease term
Lease obligations	Lease obligations The Company leases office space, datacenters, and equipment under non-cancelable finance and operating leases with various expiration dates through 2036. The Company determines if an arrangement contains a lease at inception. Operating lease right-of-use assets and lease liabilities are recognized at the present value of the future lease payments at commencement date. The interest rate implicit in the Company’s operating leases is not readily determinable, and therefore an incremental borrowing rate is estimated to determine the present value of future payments. The estimated incremental borrowing rate factors in a hypothetical interest rate on a collateralized basis with similar terms, payments, and economic environments. Operating lease right-of-use assets also include any prepaid lease payments and lease incentives. Certain of the operating lease agreements contain rent concession, rent escalation, and option to renew provisions. Rent concession and rent escalation provisions are considered in determining the single lease cost to be recorded over the lease term. Single lease cost is recognized on a straight-line basis over the lease term commencing on the date the Company has the right to use the leased property. The lease terms may include options to extend or terminate the lease. The Company generally uses the base, non-cancelable, lease term when recognizing the lease assets and liabilities, unless it is reasonably certain that the option will be exercised. In addition, certain operating lease agreements contain tenant improvement allowances from its landlords. These allowances are accounted for as lease incentives and decrease the Company's right-of-use asset and reduce single lease cost over the lease term. As part of the Company's Virtual First strategy, Dropbox has retained a portion of its office space for in-person collaboration while the remainder will be subleased. The Company did not recognize any impairment charges during the three and six months ended June 30, 2024, respectively, compared to $2.2 million of impairment charges during the three and six months ended June 30, 2023, respectively, related to right-of-use assets and other lease related property and equipment assets. See Note 8 "Leases" to our condensed consolidated financial statements included elsewhere in the Quarterly Report on Form 10-Q for further information. The Company leases certain equipment from various third parties, through equipment finance leases. These leases either include a bargain purchase option, a full transfer of ownership at the completion of the lease term, or the terms of the leases are at least 75 percent of the useful lives of the assets and are therefore classified as finance leases. These leases are capitalized in property and equipment, net and the related amortization of assets under finance leases is included in depreciation and amortization expense. Initial asset values and finance lease obligations are based on the present value of future minimum lease payments.
Business combinations	Business combinations The Company uses best estimates and assumptions, including but not limited to, future expected cash flows, expected asset lives, and discount rates, to assign a fair value to the tangible and intangible assets acquired and liabilities assumed in business combinations as of the acquisition date. These estimates are inherently uncertain and subject to refinement. During the measurement period, which may be up to one year from the acquisition date, adjustments to the fair value of these tangible and intangible assets acquired and liabilities assumed may be recorded, with the corresponding offset to goodwill. Upon the conclusion of the measurement period or final determination of the fair value of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded to the Company’s condensed consolidated statements of operations.
Long-lived assets, including goodwill and other acquired intangible assets, net	Long-lived assets, including goodwill and other acquired intangible assets, net The Company evaluates the recoverability of its property and equipment and finite-lived intangible assets for possible impairment whenever events or circumstances indicate that the carrying amount of such assets may not be recoverable. The evaluation is performed at the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities. Recoverability of these assets is measured by a comparison of the carrying amounts to the future undiscounted cash flows the assets are expected to generate. If such review determines that the carrying amount of specific property and equipment or intangible assets is not recoverable, the carrying amount of such assets is reduced to its fair value. The Company reviews goodwill for impairment at least annually in the fourth quarter, or more frequently if events or changes in circumstances would more likely than not reduce the fair value of its single reporting unit below its carrying value. The Company has not recorded impairment charges on goodwill or intangible assets for the periods presented in these condensed consolidated financial statements. The Company did not recognize any impairment charges during the three and six months ended June 30, 2024, respectively. The Company recognized impairment charges of $2.2 million during the three and six months ended June 30, 2023, respectively, related to right-of-use assets and other lease related property and equipment assets. Acquired property and equipment and finite-lived intangible assets are amortized over their useful lives. The Company evaluates the estimated remaining useful life of these assets when events or changes in circumstances warrant a revision to the remaining period of depreciation or amortization. If the Company revises the estimated useful life assumption for any asset, the remaining unamortized balance is amortized or depreciated over the revised estimated useful life on a prospective basis. In the four
Income taxes	Income taxes Deferred income tax balances reflect the effects of temporary differences between the financial reporting and tax bases of the Company’s assets and liabilities using enacted tax rates expected to apply when taxes are actually paid or recovered. In addition, deferred tax assets are recorded for net operating loss and credit carryforwards. A valuation allowance is provided against deferred tax assets unless it is more likely than not that they will be realized based on all available positive and negative evidence. Such evidence includes, but is not limited to, recent cumulative earnings or losses, expectations of future taxable income by taxing jurisdiction, and the carry-forward periods available for the utilization of deferred tax assets. The Company uses a two-step approach to recognizing and measuring uncertain income tax positions. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates it is more likely than not that the position will be sustained on audit. The second step is to measure the tax benefit as the largest amount, which is more than 50% likely of being realized upon ultimate settlement. The Company recognizes interest and penalties related to unrecognized tax benefits as income tax expense. Although the Company believes that it has adequately reserved for its uncertain tax positions, it can provide no assurance that the final tax outcome of these matters will not be materially different. The Company evaluates its uncertain tax positions on a regular basis and evaluations are based on a number of factors, including changes in facts and circumstances, changes in tax law, correspondence with tax authorities during the course of an audit, and effective settlement of audit issues. To the extent that the final tax outcome of these matters is different than the amounts recorded, such differences will affect the provision for income taxes in the period in which such determination is made and could have a material impact on the Company’s financial condition and results of operations.
Fair value measurement	Fair value measurement The Company applies fair value accounting for all financial assets and liabilities and non-financial assets and liabilities that are recognized or disclosed at fair value in the financial statements on a recurring basis. The Company defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining fair value measurements for assets and liabilities, the Company considers the principal or most advantageous market in which it would transact and the market-based risk measurements or assumptions that market participants would use in pricing the asset or liability, such as risks inherent in valuation techniques, transfer restrictions, and credit risk. Fair value is estimated by applying the following hierarchy, which prioritizes the inputs used to measure fair value into three levels and bases the categorization within the hierarchy upon the lowest level of input that is available and significant to the fair value measurement: Level 1 —Quoted prices in active markets for identical assets or liabilities. Level 2 —Observable inputs other than quoted prices in active markets for identical assets and liabilities, quoted prices for identical or similar assets or liabilities in inactive markets, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 —Inputs that are generally unobservable and typically reflect management’s estimate of assumptions that market participants would use in pricing the asset or liability.
Recently issued accounting pronouncements not yet adopted	Recently issued accounting pronouncements not yet adopted In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures , which requires disclosure of incremental segment information on an annual and interim basis. The amendments are effective for fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024. This change requires application on a fully retrospective basis. Early adoption is permitted. The Company is currently evaluating the impact of this standard on the Company's consolidated financial statement disclosures. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures , to enhance income tax disclosures primarily through changes in rate reconciliation and income taxes paid disclosures. The amendments in ASU 2023-09 are effective for annual periods beginning after December 15, 2024 on a prospective basis. Early adoption is permitted. The Company is currently evaluating the impact of this standard on the Company's consolidated financial statement disclosures.
Goodwill	Goodwill represents the excess of the purchase price in a business combination over the fair value of net tangible and intangible assets acquired.Goodwill amounts are not amortized, but tested for impairment on an annual basis.
Net income per share	The Company computes net income per share using the two-class method required for multiple classes of common stock and participating securities. The rights, including the liquidation and dividend rights, of the Class A common stock and Class B common stock are substantially identical, other than voting rights. Accordingly, the Class A common stock and Class B common stock share equally in the Company’s net income and losses.

Description of the Business a_3

Description of the Business and Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Summary of Restructuring Costs	These severance charges are included within the Company's condensed consolidated statements of operations for the three and six months ended June 30, 2023 as follows: Severance and Related Costs Cost of revenue $ 2.7 Research and development 27.0 Sales and marketing 6.3 General and administrative 1.5 Total Charges $ 37.5
Schedule of Estimated Useful Lives of Property and Equipment	The following table presents the estimated useful lives of property and equipment: Property and equipment Useful life Datacenter and other computer equipment 3 to 5 years Office equipment and other 3 to 7 years Leasehold improvements Lesser of estimated useful life or remaining lease term Property and equipment, net consisted of the following: As of June 30, 2024 December 31, 2023 Datacenter and other computer equipment $ 837.9 $ 783.2 Furniture and fixtures 11.7 11.6 Leasehold improvements 101.4 96.1 Construction in progress 4.3 4.6 Total property and equipment 955.3 895.5 Accumulated depreciation and amortization (631.6) (586.3) Property and equipment, net $ 323.7 $ 309.2

Cash, Cash Equivalents and Sh_2

Cash, Cash Equivalents and Short-Term Investments (Tables)	6 Months Ended
	Jun. 30, 2024
Cash and Cash Equivalents [Abstract]
Schedule of Amortized Cost, Unrealized Gains and Losses and Estimated Fair Value of Cash, Cash Equivalents and Short-Term Investments	The amortized cost, unrealized gains and losses and estimated fair value of the Company's cash, cash equivalents and short-term investments as of June 30, 2024 and December 31, 2023 consisted of the following: As of June 30, 2024 Amortized Cost Unrealized Gain Unrealized Loss Estimated Fair Value Cash $ 101.0 $ — $ — $ 101.0 Cash equivalents Money market funds 411.3 — — 411.3 Corporate notes and obligations 2.7 — — 2.7 U.S. Treasury securities 0.1 — — 0.1 Total cash & cash equivalents $ 515.1 $ — $ — $ 515.1 Short-term investments Corporate notes and obligations 300.9 0.2 (7.7) 293.4 U.S. Treasury securities 145.7 — (5.0) 140.7 Asset backed securities 50.9 — (1.2) 49.7 Municipal securities 37.9 — (1.4) 36.5 Commercial paper 14.6 — — 14.6 Certificates of deposit 5.4 — — 5.4 U.S. agency obligations 3.8 — (0.3) 3.5 Foreign government obligations 2.0 — (0.1) 1.9 Supranational securities 1.8 — (0.1) 1.7 Total short-term investments 563.0 0.2 (15.8) 547.4 Total $ 1,078.1 $ 0.2 $ (15.8) $ 1,062.5 As of December 31, 2023 Amortized Cost Unrealized Gain Unrealized Loss Estimated Fair Value Cash 81.3 $ — $ — 81.3 Cash equivalents Money market funds 514.8 — — 514.8 U.S. Treasury securities 10.0 — — 10.0 Commercial paper 4.4 — — 4.4 Corporate notes and obligations 2.9 — — 2.9 Certificates of deposit 1.3 — — 1.3 Municipal securities 0.2 — — 0.2 Total cash & cash equivalents $ 614.9 $ — $ — $ 614.9 Short-term investments Corporate notes and obligations 359.6 0.4 (10.3) 349.7 U.S. Treasury securities 231.2 0.2 (6.1) 225.3 Asset backed securities 72.3 — (2.3) 70.0 Municipal securities 48.3 — (2.0) 46.3 Commercial paper 30.7 — — 30.7 Certificates of deposit 8.4 — — 8.4 U.S. agency obligations 6.0 — (0.3) 5.7 Foreign government obligations 3.5 — (0.2) 3.3 Supranational securities 1.8 — (0.1) 1.7 Total short-term investments 761.8 0.6 (21.3) 741.1 Total $ 1,376.7 $ 0.6 $ (21.3) $ 1,356.0
Schedule of Contractual Maturities of Short Term Investments	The following table presents the contractual maturities of the Company’s short-term investments as of June 30, 2024: As of June 30, 2024 Amortized cost Estimated fair value Due within one year $ 172.8 $ 171.0 Due between one to three years 361.6 348.6 Due after three years 28.6 27.8 Total $ 563.0 $ 547.4
Schedule of Breakdown of the Short-Term Investments	The following tables present the breakdown of the short-term investments that have been in a continuous unrealized loss position aggregated by investment category, as of June 30, 2024 and December 31, 2023: As of June 30, 2024 Less than 12 months More than 12 months Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Corporate notes and obligations $ 77.6 $ (0.3) $ 168.4 $ (7.4) $ 246.0 $ (7.7) U.S. Treasury securities 33.9 (0.2) 92.2 (4.8) 126.1 (5.0) Asset backed securities 3.1 — 46.0 (1.2) 49.1 (1.2) Municipal securities — — 36.3 (1.4) 36.3 (1.4) U.S. agency obligations — — 3.5 (0.3) 3.5 (0.3) Foreign government obligations — — 1.9 (0.1) 1.9 (0.1) Supranational securities — — 1.7 (0.1) 1.7 (0.1) Total $ 114.6 $ (0.5) $ 350.0 $ (15.3) $ 464.6 $ (15.8) As of December 31, 2023 Less than 12 months More than 12 months Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Corporate notes and obligations $ 25.1 $ (0.1) $ 240.3 $ (10.2) $ 265.4 $ (10.3) U.S. Treasury securities 17.8 (0.1) 174.0 (6.0) 191.8 (6.1) Asset backed securities 0.6 — 66.0 (2.3) 66.6 (2.3) Municipal securities — — 46.1 (2.0) 46.1 (2.0) U.S. agency obligations — — 3.5 (0.3) 3.5 (0.3) Foreign government obligations — — 3.3 (0.2) 3.3 (0.2) Supranational securities — — 1.6 (0.1) 1.6 (0.1) Total $ 43.5 $ (0.2) $ 534.8 $ (21.1) $ 578.3 $ (21.3)

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Schedule of Financial Instruments Measured at Fair Value on a Recurring Basis	The following table presents information about the Company’s financial instruments that are measured at fair value on a recurring basis using the input categories discussed in Note 1: As of June 30, 2024 Level 1 Level 2 Level 3 Total Cash equivalents Money market funds 411.3 — — 411.3 Corporate notes and obligations — 2.7 — 2.7 U.S. Treasury securities — 0.1 — 0.1 Total cash equivalents $ 411.3 $ 2.8 $ — $ 414.1 Short-term investments Corporate notes and obligations — 293.4 — 293.4 U.S. Treasury securities — 140.7 — 140.7 Asset backed securities — 49.7 — 49.7 Municipal securities — 36.5 — 36.5 Commercial paper — 14.6 — 14.6 Certificates of deposit — 5.4 — 5.4 U.S. agency obligations — 3.5 — 3.5 Foreign government obligations — 1.9 — 1.9 Supranational securities — 1.7 — 1.7 Total short-term investments — 547.4 — 547.4 Total $ 411.3 $ 550.2 $ — $ 961.5 As of December 31, 2023 Level 1 Level 2 Level 3 Total Cash equivalents Money market funds $ 514.8 $ — $ — $ 514.8 U.S. Treasury securities — 10.0 — 10.0 Commercial paper — 4.4 — 4.4 Corporate notes and obligations — 2.9 — 2.9 Certificates of deposit — 1.3 — 1.3 Municipal securities — 0.2 — 0.2 Total cash equivalents $ 514.8 $ 18.8 $ — $ 533.6 Short-term investments Corporate notes and obligations — 349.7 — 349.7 U.S. Treasury securities — 225.3 — 225.3 Asset backed securities — 70.0 — 70.0 Municipal securities — 46.3 — 46.3 Commercial paper — 30.7 — 30.7 Certificates of deposit — 8.4 — 8.4 U.S. agency obligations — 5.7 — 5.7 Foreign government obligations — 3.3 — 3.3 Supranational securities — 1.7 — 1.7 Total short-term investments — 741.1 — 741.1 Total $ 514.8 $ 759.9 $ — $ 1,274.7

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	6 Months Ended
	Jun. 30, 2024
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment, Net	The following table presents the estimated useful lives of property and equipment: Property and equipment Useful life Datacenter and other computer equipment 3 to 5 years Office equipment and other 3 to 7 years Leasehold improvements Lesser of estimated useful life or remaining lease term Property and equipment, net consisted of the following: As of June 30, 2024 December 31, 2023 Datacenter and other computer equipment $ 837.9 $ 783.2 Furniture and fixtures 11.7 11.6 Leasehold improvements 101.4 96.1 Construction in progress 4.3 4.6 Total property and equipment 955.3 895.5 Accumulated depreciation and amortization (631.6) (586.3) Property and equipment, net $ 323.7 $ 309.2

Intangible Assets (Tables)

Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets	Intangible assets consisted of the following: As of June 30, As of December 31, Weighted- As of June 30, 2024 2023 2024 Developed technology $ 85.5 $ 74.3 3.6 Customer relationships 43.2 43.2 0.9 Patents 19.4 19.4 2.9 Software 8.9 8.9 0.0 Trademarks and trade names 5.8 5.8 1.4 Licenses 4.8 4.6 4.5 Assembled workforce in asset acquisitions 3.4 3.4 1.8 Other 1.3 1.3 1.3 Total intangibles 172.3 160.9 Accumulated amortization (115.9) (102.8) Intangible assets, net $ 56.4 $ 58.1
Schedule of Expected Future Amortization Expense	Expected future amortization expense for intangible assets as of June 30, 2024 is as follows: Intangible assets Remainder of 2024 $ 13.3 2025 17.1 2026 12.7 2027 9.3 2028 2.5 2029 0.9 Thereafter 0.6 Total $ 56.4

Goodwill (Tables)

Goodwill (Tables)	6 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Changes in Carrying Amounts of Goodwill	The changes in the carrying amounts of goodwill were as follows: Balance at December 31, 2023 $ 402.2 Acquisition 10.7 Effect of foreign currency translation (1.0) Balance at June 30, 2024 $ 411.9

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Schedule of Convertible Notes	The following is a summary of the Notes as of June 30, 2024 and December 31, 2023. 2026 Notes 2028 Notes Total June 30, 2024 Principal balance $ 695.8 $ 693.3 $ 1,389.1 Unamortized issuance costs (3.7) (5.7) (9.4) Carrying value, net $ 692.1 $ 687.6 $ 1,379.7 December 31, 2023 Principal balance $ 695.8 $ 693.3 $ 1,389.1 Unamortized issuance costs (4.8) (6.5) (11.3) Carrying value, net $ 691.0 $ 686.8 $ 1,377.8
Schedule of Maturities of Long-Term Convertible Debt	Maturities on the Company's long-term convertible debt are as follows: Convertible Debt Remainder of 2024 $ — 2025 — 2026 695.8 2027 — 2028 693.3 2029 — Thereafter — Total $ 1,389.1

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2024
Leases [Abstract]
Schedule of Future Minimum Operating Lease Payments Under Non-Cancellable Leases	Future minimum lease payments under non-cancellable leases as of June 30, 2024 were as follows: Operating leases (1) Finance leases Remainder of 2024 $ 34.7 $ 69.6 2025 78.8 107.8 2026 41.8 79.8 2027 41.2 43.2 2028 39.9 5.7 2029 39.3 — Thereafter 139.4 — Total future minimum lease payments $ 415.1 $ 306.1 Less imputed interest (71.1) (23.4) Total liability $ 344.0 $ 282.7 (1)
Schedule of Future Minimum Finance Lease Payments Under Non-Cancellable Leases	Future minimum lease payments under non-cancellable leases as of June 30, 2024 were as follows: Operating leases (1) Finance leases Remainder of 2024 $ 34.7 $ 69.6 2025 78.8 107.8 2026 41.8 79.8 2027 41.2 43.2 2028 39.9 5.7 2029 39.3 — Thereafter 139.4 — Total future minimum lease payments $ 415.1 $ 306.1 Less imputed interest (71.1) (23.4) Total liability $ 344.0 $ 282.7 (1)
Schedule of Future Non-Cancelable Rent Payments	Future non-cancelable rent payments from the Company's subtenants as of June 30, 2024 were as follows: Operating leases Remainder of 2024 $ 8.7 2025 12.3 2026 8.2 2027 7.8 2028 7.7 2029 5.0 Thereafter 13.7 Total future sublease rent payments, net 63.4

Accrued and Other Current Lia_2

Accrued and Other Current Liabilities (Tables)	6 Months Ended
	Jun. 30, 2024
Payables and Accruals [Abstract]
Schedule of Accrued and Other Current Liabilities	Accrued and other current liabilities consisted of the following: As of June 30, 2024 December 31, 2023 Non-income taxes payable $ 59.9 $ 61.3 Accrued legal and other external fees 27.9 28.8 Acquisition indemnification holdbacks 17.1 16.9 Other accrued and current liabilities 46.7 48.2 Total accrued and other current liabilities $ 151.6 $ 155.2

Stockholders_ Deficit (Tables)

Stockholders’ Deficit (Tables)	6 Months Ended
	Jun. 30, 2024
Stockholders' Equity Note [Abstract]
Schedule of Stock Option and Restricted Stock Activity	Stock option and restricted stock activity for the Plans was as follows for the six months ended June 30, 2024: Options outstanding Restricted stock Number of Number of Weighted- Weighted- Aggregate intrinsic value Number of Weighted- Balance at December 31, 2023 110.0 0.2 $ 13.54 3.9 $ 2.2 30.4 $ 23.16 Additional shares authorized 16.8 — — — — — — Options exercised and restricted stock units and awards released — — — — — (7.1) 23.45 Options and restricted stock units and awards canceled 3.2 — — — — (3.2) 23.90 Shares withheld related to net share settlement of restricted stock units and awards 2.7 — — — — — — Options and restricted stock units and awards granted (15.4) — — — — 15.4 24.53 Balance as of June 30, 2024 117.3 0.2 $ 14.67 3.3 $ 0.9 35.5 $ 23.63 Vested at June 30, 2024 0.2 $ 14.67 3.3 $ 0.9 — $ — Unvested at June 30, 2024 — $ — — $ — 35.5 $ 23.63
Schedule of Pre-Tax Intrinsic Value of Options Exercised	The following table summarizes information about the pre-tax intrinsic value of options exercised during the three and six months ended June 30, 2024 and 2023: Three Months Ended Six Months Ended 2024 2023 2024 2023 Intrinsic value of options exercised $ 0.2 $ 1.3 $ 0.4 $ 2.2

Net Income Per Share (Tables)

Net Income Per Share (Tables)	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Schedule of Numerators and Denominators of Basic and Diluted EPS Computations	The numerators and denominators of the basic and diluted EPS computations for the Company's common stock are calculated as follows (in millions, except for per share amounts): Three Months Ended 2024 2023 Class A Class B Class A Class B Basic net income per share: Numerator Net income attributable to common stockholders $ 83.1 $ 27.4 $ 32.9 $ 10.3 Denominator Weighted-average number of common shares outstanding used in computing basic net income per share 242.5 79.9 260.0 81.4 Net income per common share, basic $ 0.34 $ 0.34 $ 0.13 $ 0.13 Diluted net income per share: Numerator Net income attributable to common stockholders $ 83.1 $ 27.4 $ 32.9 $ 10.3 Reallocation of net income as a result of conversion of Class B to Class A common stock 27.4 — 10.3 — Reallocation of net income to Class B common stock — (0.2) — (0.1) Net income attributable to common stockholders for diluted EPS $ 110.5 $ 27.2 $ 43.2 $ 10.2 Denominator Weighted-average number of common shares outstanding used in computing basic net income per share 242.5 79.9 260.0 81.4 Weighted-average effect of dilutive restricted stock units and awards and employee stock options 1.3 — 2.4 — Conversion of Class B to Class A common stock 79.9 — 81.4 — Weighted-average number of common shares outstanding used in computing diluted net income per share 323.7 79.9 343.8 81.4 Net income per common share, diluted $ 0.34 $ 0.34 $ 0.13 $ 0.13 Six Months Ended 2024 2023 Class A Class B Class A Class B Basic net income per share: Numerator Net income attributable to common stockholders $ 183.5 $ 59.3 $ 85.6 $ 26.6 Denominator Weighted-average number of common shares outstanding used in computing basic net income per share 248.4 80.2 262.6 81.6 Net income per common share, basic $ 0.74 $ 0.74 $ 0.33 $ 0.33 Diluted net income per share: Numerator Net income attributable to common stockholders $ 183.5 $ 59.3 $ 85.6 $ 26.6 Reallocation of net income as a result of conversion of Class B to Class A common stock 59.3 — 26.6 — Reallocation of net income to Class B common stock — (0.7) — (0.2) Net income attributable to common stockholders for diluted EPS $ 242.8 $ 58.6 $ 112.2 $ 26.4 Denominator Weighted-average number of common shares outstanding used in computing basic net income per share 248.4 80.2 262.6 81.6 Weighted-average effect of dilutive restricted stock units and awards and employee stock options 3.8 — 2.6 — Conversion of Class B to Class A common stock 80.2 — 81.6 — Weighted-average number of common shares outstanding used in computing diluted net income per share 332.4 80.2 346.8 81.6 Net income per common share, diluted $ 0.73 $ 0.73 $ 0.32 $ 0.32
Schedule of Weighted-Average Impact of Potentially Dilutive Securities	The weighted-average impact of potentially dilutive securities that were not included in the diluted per share calculations because they would be anti-dilutive was as follows: Three Months Ended Six Months Ended 2024 2023 2024 2023 Restricted stock units and awards 18.9 15.4 4.6 15.7 Options to purchase shares of common stock — 0.1 — 0.1 Co-Founder Grant 8.3 8.3 8.3 8.3 Convertible Senior Notes 37.8 37.8 37.8 37.8 Warrants 37.8 37.8 37.8 37.8 Total 102.8 99.4 88.5 99.7

Geographic Areas (Tables)

Geographic Areas (Tables)	6 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
Schedule of Long-lived Assets by Geographic Areas	The following table sets forth long-lived assets by geographic area: As of June 30, 2024 December 31, 2023 United States $ 317.2 $ 302.4 International (1) $ 6.5 $ 6.8 Total property and equipment, net $ 323.7 $ 309.2 (1)
Schedule of Revenue by Geographic Areas	The following table sets forth revenue by geographic area for the three and six months ended June 30, 2024 and 2023. Three Months Ended Six Months Ended 2024 2023 2024 2023 United States $ 361.7 $ 353.7 $ 720.0 $ 699.6 International (1) 272.8 268.8 545.8 534.0 Total revenue $ 634.5 $ 622.5 $ 1,265.8 $ 1,233.6 (1) No single country outside of the United States accounted for more than 10% of total revenue during the three and six months ended June 30, 2024 and 2023, respectively.

Description of the Business a_4

Description of the Business and Summary of Significant Accounting Policies - Use of estimates (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Mar. 31, 2024	Jan. 01, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Property and equipment, useful life						5 years	5 years	4 years
Net income attributable to common stockholders		$ 110.5	$ 43.2	$ 242.8	$ 112.2
Basic net income per share (in dollars per share)		$ 0.34	$ 0.13	$ 0.74	$ 0.33
Diluted net income per share (in dollars per share)		$ 0.34	$ 0.13	$ 0.73	$ 0.32
Favorable impact on cost of revenue	[1],[2]	$ (107)	$ (120.1)	$ (212.8)	$ (236.9)
Service Life
Property, Plant and Equipment [Line Items]
Reduction in depreciation expense		9		19.4
Net income attributable to common stockholders		$ 7.1		$ 15.2
Basic net income per share (in dollars per share)		$ 0.02		$ 0.05
Diluted net income per share (in dollars per share)		$ 0.02		$ 0.05
Favorable impact on cost of revenue				$ 30.5
[1] Includes expenses related to the Company's reduction in workforce such as severance, benefits and other related items during the three and six months ended June 30, 2023. Includes stock-based compensation as follows: Three Months Ended Six Months Ended 2024 2023 2024 2023 Cost of revenue $ 6.0 $ 6.4 $ 11.2 $ 11.8 Research and development (4) 64.2 67.4 119.6 120.3 Sales and marketing 6.2 6.3 11.3 11.8 General and administrative 14.1 15.2 26.4 27.4 Total stock-based compensation $ 90.5 $ 95.3 $ 168.5 $ 171.3

Description of the Business a_5

Description of the Business and Summary of Significant Accounting Policies - Revenue recognition (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Revenue, performance obligation, description of timing			one year or longer
Revenue recognized	$ 348.4	$ 341.9	$ 555.5	$ 536.7
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 818.3		$ 818.3
Performance obligation satisfaction period	12 months		12 months

Description of the Business a_6

Description of the Business and Summary of Significant Accounting Policies - Stock-based compensation (Narrative) (Details) - Restricted Stock - shares shares in Millions	1 Months Ended	6 Months Ended
	Dec. 31, 2017	Jun. 30, 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		4 years
Shares granted (in shares)		15.4
Chief Executive Officer | Co-Founder Grant
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted (in shares)	10.3

Description of the Business a_7

Description of the Business and Summary of Significant Accounting Policies - Reduction in Workforce (Narrative) (Details) - 2023 Global Workforce Reduction Plan - USD ($) $ in Millions		3 Months Ended	6 Months Ended
	Apr. 27, 2023	Jun. 30, 2023	Jun. 30, 2023
Restructuring Cost and Reserve [Line Items]
Expected reduction of workforce	16%
Restructuring charges		$ 37.5	$ 37.5

Description of the Business a_8

Description of the Business and Summary of Significant Accounting Policies - Schedule of Severance and Related Charges (Details) - 2023 Global Workforce Reduction Plan - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2023
Restructuring Cost and Reserve [Line Items]
Total Charges	$ 37.5	$ 37.5
Cost of revenue
Restructuring Cost and Reserve [Line Items]
Total Charges	2.7	2.7
Research and development
Restructuring Cost and Reserve [Line Items]
Total Charges	27	27
Sales and marketing
Restructuring Cost and Reserve [Line Items]
Total Charges	6.3	6.3
General and administrative
Restructuring Cost and Reserve [Line Items]
Total Charges	$ 1.5	$ 1.5

Description of the Business a_9

Description of the Business and Summary of Significant Accounting Policies - Short-term investments (Narrative) (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Allowance for credit losses	$ 0	$ 0

Description of the Business _10

Description of the Business and Summary of Significant Accounting Policies - Concentrations of risk (Narrative) (Details) - Trade and Other Receivables - Customer Concentration Risk	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Customer A
Concentration Risk [Line Items]
Concentration risk, percentage	11%	11%
Customer B
Concentration Risk [Line Items]
Concentration risk, percentage	47%	43%

Description of the Business _11

Description of the Business and Summary of Significant Accounting Policies - Deferred Commissions, net (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Capitalized Contract Cost [Line Items]
Additional contract costs deferred	$ 7.9	$ 6.2	$ 15.5	$ 12.3
Amortization of deferred commissions	$ 7.4	$ 10.1	$ 14.9	$ 20.8
Deferred Commissions
Capitalized Contract Cost [Line Items]
Deferred contract costs, amortization period	5 years		5 years
Deferred Commissions | Prepaid Expenses and Other Current Assets
Capitalized Contract Cost [Line Items]
Deferred contract costs	$ 23.7		$ 23.7		$ 23.4
Deferred Commissions | Other Assets
Capitalized Contract Cost [Line Items]
Deferred contract costs	$ 22.3		$ 22.3		$ 22
Renewal Commissions
Capitalized Contract Cost [Line Items]
Deferred contract costs, amortization period	1 year		1 year

Description of the Business _12

Description of the Business and Summary of Significant Accounting Policies - Schedule of Estimated Useful Lives of Property and Equipment (Details)	Jun. 30, 2024	Mar. 31, 2024	Jan. 01, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Property and equipment, useful life		5 years	5 years	4 years
Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	3 years
Minimum | Datacenter and other computer equipment
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	3 years
Minimum | Office equipment and other
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	3 years
Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	7 years
Maximum | Datacenter and other computer equipment
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	5 years
Maximum | Office equipment and other
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	7 years

Description of the Business _13

Description of the Business and Summary of Significant Accounting Policies - Lease obligations (Narrative) (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Impairment charges	$ 0	$ 2,200,000	$ 0	$ 2,200,000

Description of the Business _14

Description of the Business and Summary of Significant Accounting Policies - Long-lived assets, including goodwill and other acquired intangible assets, net (Narrative) (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Mar. 31, 2024	Jan. 01, 2024	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Goodwill and intangible asset impairment			$ 0	$ 0
Asset impairment charges	$ 0	$ 2,200,000	$ 0	$ 2,200,000
Property and equipment, useful life					5 years	5 years	4 years

Cash, Cash Equivalents and Sh_3

Cash, Cash Equivalents and Short-Term Investments - Schedule of Amortized Cost, Unrealized Gains and Losses and Estimated Fair Value of Cash, Cash Equivalents and Short-Term Investments (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents, amortized cost	$ 515.1	$ 614.9
Cash and cash equivalents, estimated fair value	515.1	614.9
Short-term investments, amortized cost	563	761.8
Short-term investments, unrealized gain	0.2	0.6
Short-term investments, unrealized loss	(15.8)	(21.3)
Short-term investments, estimated fair value	547.4	741.1
Total cash, cash equivalents, and short term investments, before unrealized gains (losses) on investments	1,078.1	1,376.7
Total cash, cash equivalents, and short term investments	1,062.5	1,356
Corporate notes and obligations
Cash and Cash Equivalents [Line Items]
Short-term investments, amortized cost	300.9	359.6
Short-term investments, unrealized gain	0.2	0.4
Short-term investments, unrealized loss	(7.7)	(10.3)
Short-term investments, estimated fair value	293.4	349.7
U.S. Treasury securities
Cash and Cash Equivalents [Line Items]
Short-term investments, amortized cost	145.7	231.2
Short-term investments, unrealized gain	0	0.2
Short-term investments, unrealized loss	(5)	(6.1)
Short-term investments, estimated fair value	140.7	225.3
Asset backed securities
Cash and Cash Equivalents [Line Items]
Short-term investments, amortized cost	50.9	72.3
Short-term investments, unrealized gain	0	0
Short-term investments, unrealized loss	(1.2)	(2.3)
Short-term investments, estimated fair value	49.7	70
Municipal securities
Cash and Cash Equivalents [Line Items]
Short-term investments, amortized cost	37.9	48.3
Short-term investments, unrealized gain	0	0
Short-term investments, unrealized loss	(1.4)	(2)
Short-term investments, estimated fair value	36.5	46.3
Commercial paper
Cash and Cash Equivalents [Line Items]
Short-term investments, amortized cost	14.6	30.7
Short-term investments, unrealized gain	0	0
Short-term investments, unrealized loss	0	0
Short-term investments, estimated fair value	14.6	30.7
Certificates of deposit
Cash and Cash Equivalents [Line Items]
Short-term investments, amortized cost	5.4	8.4
Short-term investments, unrealized gain	0	0
Short-term investments, unrealized loss	0	0
Short-term investments, estimated fair value	5.4	8.4
U.S. agency obligations
Cash and Cash Equivalents [Line Items]
Short-term investments, amortized cost	3.8	6
Short-term investments, unrealized gain	0	0
Short-term investments, unrealized loss	(0.3)	(0.3)
Short-term investments, estimated fair value	3.5	5.7
Foreign government obligations
Cash and Cash Equivalents [Line Items]
Short-term investments, amortized cost	2	3.5
Short-term investments, unrealized gain	0	0
Short-term investments, unrealized loss	(0.1)	(0.2)
Short-term investments, estimated fair value	1.9	3.3
Supranational securities
Cash and Cash Equivalents [Line Items]
Short-term investments, amortized cost	1.8	1.8
Short-term investments, unrealized gain	0	0
Short-term investments, unrealized loss	(0.1)	(0.1)
Short-term investments, estimated fair value	1.7	1.7
Cash
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents, amortized cost	101	81.3
Cash and cash equivalents, estimated fair value	101	81.3
Money market funds
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents, amortized cost	411.3	514.8
Cash and cash equivalents, estimated fair value	411.3	514.8
Corporate notes and obligations
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents, amortized cost	2.7	2.9
Cash and cash equivalents, estimated fair value	2.7	2.9
U.S. Treasury securities
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents, amortized cost	0.1	10
Cash and cash equivalents, estimated fair value	$ 0.1	10
Commercial paper
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents, amortized cost		4.4
Cash and cash equivalents, estimated fair value		4.4
Certificates of deposit
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents, amortized cost		1.3
Cash and cash equivalents, estimated fair value		1.3
Municipal securities
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents, amortized cost		0.2
Cash and cash equivalents, estimated fair value		$ 0.2

Cash, Cash Equivalents and Sh_4

Cash, Cash Equivalents and Short-Term Investments - Narrative (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024 USD ($) investment	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($) investment	Jun. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)
Cash and Cash Equivalents [Abstract]
Cash in transit for credit and debit card transactions | $	$ 21.2		$ 21.2		$ 17
Number of investments in unrealized loss positions | investment	368		368
Number of security types | investment	9		9
Number of security types in loss position | investment	7		7
Unrealized losses, short term investments | $	$ 15.8		$ 15.8		$ 21.3
Investment income | $	$ 9.5	$ 7.4	$ 21.5	$ 14.6

Cash, Cash Equivalents and Sh_5

Cash, Cash Equivalents and Short-Term Investments - Schedule of Contractual Maturities of Short Term Investments (Details) $ in Millions	Jun. 30, 2024 USD ($)
Amortized cost
Due within one year	$ 172.8
Due between one to three years	361.6
Due after three years	28.6
Total	563
Estimated fair value
Due within one year	171
Due between one to three years	348.6
Due after three years	27.8
Total	$ 547.4

Cash, Cash Equivalents and Sh_6

Cash, Cash Equivalents and Short-Term Investments - Schedule of Breakdown of the Short-Term Investments (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Less than 12 months
Fair Value	$ 114.6	$ 43.5
Gross Unrealized Losses	(0.5)	(0.2)
More than 12 months
Fair Value	350	534.8
Gross Unrealized Losses	(15.3)	(21.1)
Total
Fair Value	464.6	578.3
Gross Unrealized Losses	(15.8)	(21.3)
Corporate notes and obligations
Less than 12 months
Fair Value	77.6	25.1
Gross Unrealized Losses	(0.3)	(0.1)
More than 12 months
Fair Value	168.4	240.3
Gross Unrealized Losses	(7.4)	(10.2)
Total
Fair Value	246	265.4
Gross Unrealized Losses	(7.7)	(10.3)
U.S. Treasury securities
Less than 12 months
Fair Value	33.9	17.8
Gross Unrealized Losses	(0.2)	(0.1)
More than 12 months
Fair Value	92.2	174
Gross Unrealized Losses	(4.8)	(6)
Total
Fair Value	126.1	191.8
Gross Unrealized Losses	(5)	(6.1)
Asset backed securities
Less than 12 months
Fair Value	3.1	0.6
Gross Unrealized Losses	0	0
More than 12 months
Fair Value	46	66
Gross Unrealized Losses	(1.2)	(2.3)
Total
Fair Value	49.1	66.6
Gross Unrealized Losses	(1.2)	(2.3)
Municipal securities
Less than 12 months
Fair Value	0	0
Gross Unrealized Losses	0	0
More than 12 months
Fair Value	36.3	46.1
Gross Unrealized Losses	(1.4)	(2)
Total
Fair Value	36.3	46.1
Gross Unrealized Losses	(1.4)	(2)
U.S. agency obligations
Less than 12 months
Fair Value	0	0
Gross Unrealized Losses	0	0
More than 12 months
Fair Value	3.5	3.5
Gross Unrealized Losses	(0.3)	(0.3)
Total
Fair Value	3.5	3.5
Gross Unrealized Losses	(0.3)	(0.3)
Foreign government obligations
Less than 12 months
Fair Value	0	0
Gross Unrealized Losses	0	0
More than 12 months
Fair Value	1.9	3.3
Gross Unrealized Losses	(0.1)	(0.2)
Total
Fair Value	1.9	3.3
Gross Unrealized Losses	(0.1)	(0.2)
Supranational securities
Less than 12 months
Fair Value	0	0
Gross Unrealized Losses	0	0
More than 12 months
Fair Value	1.7	1.6
Gross Unrealized Losses	(0.1)	(0.1)
Total
Fair Value	1.7	1.6
Gross Unrealized Losses	$ (0.1)	$ (0.1)

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Financial Instruments Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	$ 515.1	$ 614.9
Short-term investments	547.4	741.1
Corporate notes and obligations
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	293.4	349.7
U.S. Treasury securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	140.7	225.3
Asset backed securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	49.7	70
Municipal securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	36.5	46.3
Commercial paper
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	14.6	30.7
Certificates of deposit
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	5.4	8.4
U.S. agency obligations
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	3.5	5.7
Foreign government obligations
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	1.9	3.3
Supranational securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	1.7	1.7
Money market funds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	411.3	514.8
Corporate notes and obligations
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	2.7	2.9
U.S. Treasury securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	0.1	10
Commercial paper
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents		4.4
Certificates of deposit
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents		1.3
Municipal securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents		0.2
Fair Value, Measurements, Recurring
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	414.1	533.6
Short-term investments	547.4	741.1
Assets, fair value disclosure	961.5	1,274.7
Fair Value, Measurements, Recurring | Corporate notes and obligations
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	293.4	349.7
Fair Value, Measurements, Recurring | U.S. Treasury securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	140.7	225.3
Fair Value, Measurements, Recurring | Asset backed securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	49.7	70
Fair Value, Measurements, Recurring | Municipal securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	36.5	46.3
Fair Value, Measurements, Recurring | Commercial paper
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	14.6	30.7
Fair Value, Measurements, Recurring | Certificates of deposit
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	5.4	8.4
Fair Value, Measurements, Recurring | U.S. agency obligations
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	3.5	5.7
Fair Value, Measurements, Recurring | Foreign government obligations
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	1.9	3.3
Fair Value, Measurements, Recurring | Supranational securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	1.7	1.7
Fair Value, Measurements, Recurring | Money market funds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	411.3	514.8
Fair Value, Measurements, Recurring | Corporate notes and obligations
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	2.7	2.9
Fair Value, Measurements, Recurring | Commercial paper
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents		4.4
Fair Value, Measurements, Recurring | Certificates of deposit
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents		1.3
Fair Value, Measurements, Recurring | Municipal securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents		0.2
Fair Value, Measurements, Recurring | Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	411.3	514.8
Short-term investments	0	0
Assets, fair value disclosure	411.3	514.8
Fair Value, Measurements, Recurring | Level 1 | Corporate notes and obligations
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	0	0
Fair Value, Measurements, Recurring | Level 1 | U.S. Treasury securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	0	0
Fair Value, Measurements, Recurring | Level 1 | Asset backed securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	0	0
Fair Value, Measurements, Recurring | Level 1 | Municipal securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	0	0
Fair Value, Measurements, Recurring | Level 1 | Commercial paper
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	0	0
Fair Value, Measurements, Recurring | Level 1 | Certificates of deposit
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	0	0
Fair Value, Measurements, Recurring | Level 1 | U.S. agency obligations
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	0	0
Fair Value, Measurements, Recurring | Level 1 | Foreign government obligations
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	0	0
Fair Value, Measurements, Recurring | Level 1 | Supranational securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	0	0
Fair Value, Measurements, Recurring | Level 1 | Money market funds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	411.3	514.8
Fair Value, Measurements, Recurring | Level 1 | Corporate notes and obligations
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	0	0
Fair Value, Measurements, Recurring | Level 1 | U.S. Treasury securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	0	0
Fair Value, Measurements, Recurring | Level 1 | Commercial paper
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents		0
Fair Value, Measurements, Recurring | Level 1 | Certificates of deposit
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents		0
Fair Value, Measurements, Recurring | Level 1 | Municipal securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents		0
Fair Value, Measurements, Recurring | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	2.8	18.8
Short-term investments	547.4	741.1
Assets, fair value disclosure	550.2	759.9
Fair Value, Measurements, Recurring | Level 2 | Corporate notes and obligations
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	293.4	349.7
Fair Value, Measurements, Recurring | Level 2 | U.S. Treasury securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	140.7	225.3
Fair Value, Measurements, Recurring | Level 2 | Asset backed securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	49.7	70
Fair Value, Measurements, Recurring | Level 2 | Municipal securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	36.5	46.3
Fair Value, Measurements, Recurring | Level 2 | Commercial paper
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	14.6	30.7
Fair Value, Measurements, Recurring | Level 2 | Certificates of deposit
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	5.4	8.4
Fair Value, Measurements, Recurring | Level 2 | U.S. agency obligations
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	3.5	5.7
Fair Value, Measurements, Recurring | Level 2 | Foreign government obligations
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	1.9	3.3
Fair Value, Measurements, Recurring | Level 2 | Supranational securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	1.7	1.7
Fair Value, Measurements, Recurring | Level 2 | Money market funds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	0	0
Fair Value, Measurements, Recurring | Level 2 | Corporate notes and obligations
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	2.7	2.9
Fair Value, Measurements, Recurring | Level 2 | U.S. Treasury securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	0.1	10
Fair Value, Measurements, Recurring | Level 2 | Commercial paper
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents		4.4
Fair Value, Measurements, Recurring | Level 2 | Certificates of deposit
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents		1.3
Fair Value, Measurements, Recurring | Level 2 | Municipal securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents		0.2
Fair Value, Measurements, Recurring | Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	0	0
Short-term investments	0	0
Assets, fair value disclosure	0	0
Fair Value, Measurements, Recurring | Level 3 | Corporate notes and obligations
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	0	0
Fair Value, Measurements, Recurring | Level 3 | U.S. Treasury securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	0	0
Fair Value, Measurements, Recurring | Level 3 | Asset backed securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	0	0
Fair Value, Measurements, Recurring | Level 3 | Municipal securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	0	0
Fair Value, Measurements, Recurring | Level 3 | Commercial paper
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	0	0
Fair Value, Measurements, Recurring | Level 3 | Certificates of deposit
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	0	0
Fair Value, Measurements, Recurring | Level 3 | U.S. agency obligations
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	0	0
Fair Value, Measurements, Recurring | Level 3 | Foreign government obligations
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	0	0
Fair Value, Measurements, Recurring | Level 3 | Supranational securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	0	0
Fair Value, Measurements, Recurring | Level 3 | Money market funds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	0	0
Fair Value, Measurements, Recurring | Level 3 | Corporate notes and obligations
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	0	0
Fair Value, Measurements, Recurring | Level 3 | U.S. Treasury securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	$ 0	0
Fair Value, Measurements, Recurring | Level 3 | Commercial paper
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents		0
Fair Value, Measurements, Recurring | Level 3 | Certificates of deposit
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents		0
Fair Value, Measurements, Recurring | Level 3 | Municipal securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents		$ 0

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) $ in Millions	Jun. 30, 2024 USD ($)
2026 Notes | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Convertible debt, fair value disclosures	$ 648.3
2026 Notes | Convertible Debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument, face amount	$ 695.8
Debt instrument, interest rate, stated percentage	0%
2028 Notes | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Convertible debt, fair value disclosures	$ 627.4
2028 Notes | Convertible Debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument, face amount	$ 693.3
Debt instrument, interest rate, stated percentage	0%

Property and Equipment, Net - S

Property and Equipment, Net - Schedule of Property and Equipment, Net (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 955.3	$ 895.5
Accumulated depreciation and amortization	(631.6)	(586.3)
Property and equipment, net	323.7	309.2
Datacenter and other computer equipment
Property, Plant and Equipment [Line Items]
Total property and equipment	837.9	783.2
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Total property and equipment	11.7	11.6
Leasehold improvements
Property, Plant and Equipment [Line Items]
Total property and equipment	101.4	96.1
Construction in progress
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 4.3	$ 4.6

Property and Equipment, Net - N

Property and Equipment, Net - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Assets under equipment finance lease, gross	$ 470.9		$ 470.9		$ 457.4
Assets under equipment finance lease, accumulated depreciation	235.6		235.6		$ 234.7
Depreciation	$ 25.9	$ 35.2	$ 50.7	$ 70.1

Intangible Assets - Schedule of

Intangible Assets - Schedule of Intangible Assets (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	$ 172.3	$ 160.9
Accumulated amortization	(115.9)	(102.8)
Intangible assets, net	56.4	58.1
Developed technology
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	$ 85.5	74.3
Developed technology | Weighted Average
Finite-Lived Intangible Assets [Line Items]
Weighted- average remaining useful life (in years)	3 years 7 months 6 days
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	$ 43.2	43.2
Customer relationships | Weighted Average
Finite-Lived Intangible Assets [Line Items]
Weighted- average remaining useful life (in years)	10 months 24 days
Patents
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	$ 19.4	19.4
Patents | Weighted Average
Finite-Lived Intangible Assets [Line Items]
Weighted- average remaining useful life (in years)	2 years 10 months 24 days
Software
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	$ 8.9	8.9
Software | Weighted Average
Finite-Lived Intangible Assets [Line Items]
Weighted- average remaining useful life (in years)	0 years
Trademarks and trade names
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	$ 5.8	5.8
Trademarks and trade names | Weighted Average
Finite-Lived Intangible Assets [Line Items]
Weighted- average remaining useful life (in years)	1 year 4 months 24 days
Licenses
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	$ 4.8	4.6
Licenses | Weighted Average
Finite-Lived Intangible Assets [Line Items]
Weighted- average remaining useful life (in years)	4 years 6 months
Assembled workforce in asset acquisitions
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	$ 3.4	3.4
Assembled workforce in asset acquisitions | Weighted Average
Finite-Lived Intangible Assets [Line Items]
Weighted- average remaining useful life (in years)	1 year 9 months 18 days
Other
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	$ 1.3	$ 1.3
Other | Weighted Average
Finite-Lived Intangible Assets [Line Items]
Weighted- average remaining useful life (in years)	1 year 3 months 18 days

Intangible Assets - Schedule _2

Intangible Assets - Schedule of Expected Future Amortization Expense (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 6.4	$ 7.6	$ 13.1	$ 15.1
Finite-Lived Intangible Assets, Amortization Expense, Maturity Schedule [Abstract]
Remainder of 2024	13.3		13.3
2025	17.1		17.1
2026	12.7		12.7
2027	9.3		9.3
2028	2.5		2.5
2029	0.9		0.9
Thereafter	0.6		0.6
Total	$ 56.4		$ 56.4

Goodwill (Details)

Goodwill (Details) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 402,200,000
Acquisition	10,700,000
Effect of foreign currency translation	(1,000,000)
Goodwill, ending balance	411,900,000	$ 402,200,000
Goodwill impairment	$ 0	$ 0

Debt - Revolving credit facilit

Debt - Revolving credit facility (Narrative) (Details) - Credit and Guarantee Agreement - USD ($)	1 Months Ended
	Mar. 31, 2023	Feb. 28, 2021	Feb. 28, 2018	Jun. 30, 2024	Apr. 30, 2017
Letter of Credit
Line of Credit Facility [Line Items]
Commitment fee (percent)			1.375%
Fronting fee (percent)			0.125%
Revolving Credit Facility
Line of Credit Facility [Line Items]
Unused capacity, commitment fee (percent)			0.20%
Line of Credit
Line of Credit Facility [Line Items]
Covenant terms, minimum liquidity balance			$ 100,000,000
Line of Credit | Letter of Credit
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity		$ 65,000,000	187,500,000
Line of Credit | Revolving Credit Facility
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity		500,000,000	$ 725,000,000		$ 600,000,000
Line of credit facility, accordion feature, increase limit		250,000,000
Debt issuance fees	$ 100,000	1,700,000
Write off of deferred debt issuance cost		$ 200,000
Aggregate letters of credit outstanding amount				$ 30,400,000
Remaining borrowing capacity				$ 469,600,000
Line of Credit | Revolving Credit Facility | SOFR
Line of Credit Facility [Line Items]
Basis spread adjustment	0.10%
Basis spread on variable rate (percent)			1.375%
Line of Credit | Revolving Credit Facility | Base Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate (percent)			0.375%

Debt - Convertible senior notes

Debt - Convertible senior notes (Narrative) (Details) $ / shares in Units, $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2024 USD ($) $ / shares	Jun. 30, 2023 USD ($)	Mar. 31, 2021 USD ($)	Jun. 30, 2024 USD ($) d $ / shares	Jun. 30, 2023 USD ($)
Debt Instrument [Line Items]
Proceeds from convertible debt			$ 1,400
Convertible Scenario One
Debt Instrument [Line Items]
Convertible debt, threshold trading days | d				20
Convertible debt, threshold consecutive trading days | d				30
Convertible debt, threshold percentage of stock price trigger				130%
Convertible Scenario Two
Debt Instrument [Line Items]
Convertible debt, threshold trading days | d				5
Convertible debt, threshold consecutive trading days | d				5
Convertible debt, threshold percentage of stock price trigger				98%
Convertible Scenario Three
Debt Instrument [Line Items]
Convertible debt, threshold trading days | d				20
Convertible debt, threshold consecutive trading days | d				30
Convertible debt, threshold percentage of stock price trigger				130%
Convertible Debt | Convertible Scenario Three
Debt Instrument [Line Items]
Convertible debt, redemption percentage				100%
Convertible Debt | Convertible Scenario Four
Debt Instrument [Line Items]
Convertible debt, redemption percentage				100%
2026 Notes
Debt Instrument [Line Items]
Convertible debt, conversion rate				0.0261458
Convertible debt, conversion rate (in dollars per share) | $ / shares	$ 38.25			$ 38.25
Interest expense	$ 0.6	$ 0.5		$ 1.1	$ 1.1
2026 Notes | Maximum
Debt Instrument [Line Items]
Convertible debt, conversion rate				0.0431406
2026 Notes | Convertible Debt
Debt Instrument [Line Items]
Proceeds from convertible debt			695.8
Debt issuance costs	$ 11			$ 11
Debt instrument, term				5 years
Effective interest rate	0.32%			0.32%
2028 Notes
Debt Instrument [Line Items]
Convertible debt, conversion rate				0.0282889
Convertible debt, conversion rate (in dollars per share) | $ / shares	$ 35.35			$ 35.35
Interest expense	$ 0.4	$ 0.4		$ 0.8	$ 0.8
2028 Notes | Maximum
Debt Instrument [Line Items]
Convertible debt, conversion rate				0.0431406
2028 Notes | Convertible Debt
Debt Instrument [Line Items]
Proceeds from convertible debt			$ 693.3
Debt issuance costs	$ 11			$ 11
Debt instrument, term				7 years
Effective interest rate	0.22%			0.22%

Debt - Schedule of Convertible

Debt - Schedule of Convertible Notes (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Principal balance	$ 1,389.1
Convertible Debt
Debt Instrument [Line Items]
Principal balance	1,389.1	$ 1,389.1
Unamortized issuance costs	(9.4)	(11.3)
Carrying value, net	1,379.7	1,377.8
Convertible Debt | 2026 Notes
Debt Instrument [Line Items]
Principal balance	695.8	695.8
Unamortized issuance costs	(3.7)	(4.8)
Carrying value, net	692.1	691
Convertible Debt | 2028 Notes
Debt Instrument [Line Items]
Principal balance	693.3	693.3
Unamortized issuance costs	(5.7)	(6.5)
Carrying value, net	$ 687.6	$ 686.8

Debt - Schedule of Maturities o

Debt - Schedule of Maturities of Long-Term Convertible Debt (Details) $ in Millions	Jun. 30, 2024 USD ($)
Debt Disclosure [Abstract]
Remainder of 2024	$ 0
2025	0
2026	695.8
2027	0
2028	693.3
2029	0
Thereafter	0
Total	$ 1,389.1

Debt - Convertible Note Hedges

Debt - Convertible Note Hedges and Warrants (Narrative) (Details) $ / shares in Units, shares in Millions, $ in Millions	6 Months Ended
	Jun. 30, 2024 USD ($) $ / shares shares
2026 Notes
Derivative [Line Items]
Convertible debt, conversion rate (in dollars per share)	$ 38.25
Convertible debt, effective conversion rate (in dollars per share)	46.36
2028 Notes
Derivative [Line Items]
Convertible debt, conversion rate (in dollars per share)	35.35
Convertible debt, effective conversion rate (in dollars per share)	$ 46.36
2026 And 2028 Warrants
Derivative [Line Items]
Proceeds from issuance of warrants | $	$ 202.9
2026 Warrants
Derivative [Line Items]
Number of shares covered by warrant (in shares) | shares	18.1
Warrant price (in dollars per share)	$ 46.36
2028 Warrants
Derivative [Line Items]
Number of shares covered by warrant (in shares) | shares	20.1
Warrant price (in dollars per share)	$ 46.36
2026 Notes Hedge
Derivative [Line Items]
Convertible note hedge, number of shares covered by hedge (in shares) | shares	18.2
Convertible note hedge, strike price (in dollars per share)	$ 38.25
2028 Notes Hedge
Derivative [Line Items]
Convertible note hedge, number of shares covered by hedge (in shares) | shares	19.6
Convertible note hedge, strike price (in dollars per share)	$ 35.35
Convertible Note Hedge
Derivative [Line Items]
Cost of note hedge transaction | $	$ 265.3

Leases - Narrative (Details)

Leases - Narrative (Details)	1 Months Ended		3 Months Ended		6 Months Ended
	Jan. 31, 2025 USD ($) ft²	Oct. 31, 2023 USD ($) ft²	Jun. 30, 2024 USD ($) ft²	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($) ft²	Jun. 30, 2023 USD ($)	Dec. 31, 2023 USD ($) ft² tranche	Dec. 31, 2017
Lessee, Lease, Description [Line Items]
Lease, renewal term			5 years		5 years
Operating sublease, extension term					4 years
Sublease income			$ 3,500,000	$ 3,800,000	$ 7,000,000	$ 8,200,000
Impairment charges			0	$ 2,200,000	0	$ 2,200,000
Leases not yet commenced			$ 76,200,000		$ 76,200,000
Leases not yet commenced, term of contract			7 years		7 years
Corporate Headquarters Lease Amendment
Lessee, Lease, Description [Line Items]
Area of leased property surrendered | ft²		52,000	54,000		54,000		165,000
Lease termination liability							$ 79,000,000
Number of tranches | tranche							3
Lease termination payment		$ 28,100,000	$ 14,900,000
Corporate Headquarters Lease Amendment | Forecast
Lessee, Lease, Description [Line Items]
Area of leased property surrendered | ft²	59,000
Lease termination payment	$ 36,000,000
Corporate Headquarters Lease
Lessee, Lease, Description [Line Items]
Operating lease, term of contract								15 years
Minimum obligations			179,500,000		$ 179,500,000
Corporate Headquarters Lease | Line of Credit | Letter of Credit
Lessee, Lease, Description [Line Items]
Letter of credit			$ 17,500,000		$ 17,500,000
Minimum
Lessee, Lease, Description [Line Items]
Lease, remaining lease term			1 year		1 year
Operating sublease, term					1 year
Maximum
Lessee, Lease, Description [Line Items]
Lease, remaining lease term			12 years		12 years
Operating sublease, term					9 years

Leases - Schedule of Future Min

Leases - Schedule of Future Minimum Operating and Finance Lease Payments Under Non-Cancellable Leases (Details) $ in Millions	Jun. 30, 2024 USD ($)
Operating leases
Remainder of 2024	$ 34.7
2025	78.8
2026	41.8
2027	41.2
2028	39.9
2029	39.3
Thereafter	139.4
Total future minimum lease payments	415.1
Less imputed interest	(71.1)
Total liability	344
Finance leases
Remainder of 2024	69.6
2025	107.8
2026	79.8
2027	43.2
2028	5.7
2029	0
Thereafter	0
Total future minimum lease payments	306.1
Less imputed interest	(23.4)
Total liability	$ 282.7

Leases - Schedule of Future Non

Leases - Schedule of Future Non-Cancelable Rent Payments (Details) $ in Millions	Jun. 30, 2024 USD ($)
Leases [Abstract]
Remainder of 2024	$ 8.7
2025	12.3
2026	8.2
2027	7.8
2028	7.7
2029	5
Thereafter	13.7
Total future sublease rent payments, net	$ 63.4

Accrued and Other Current Lia_3

Accrued and Other Current Liabilities (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Payables and Accruals [Abstract]
Non-income taxes payable	$ 59.9	$ 61.3
Accrued legal and other external fees	27.9	28.8
Acquisition indemnification holdbacks	17.1	16.9
Other accrued and current liabilities	46.7	48.2
Total accrued and other current liabilities	$ 151.6	$ 155.2

Stockholders_ Deficit - Common

Stockholders’ Deficit - Common stock and preferred stock (Narrative) (Details)	1 Months Ended	3 Months Ended		6 Months Ended		12 Months Ended
	Dec. 31, 2017 shares	Jun. 30, 2024 $ / shares shares	Jun. 30, 2023 shares	Jun. 30, 2024 vote $ / shares shares	Jun. 30, 2023 shares	Dec. 31, 2023 shares
Class of Stock [Line Items]
Preferred stock, shares authorized (in shares)		240,000,000		240,000,000
Restricted Stock
Class of Stock [Line Items]
Shares granted (in shares)				15,400,000
Co-Founder Grant | Restricted Stock | Chief Executive Officer
Class of Stock [Line Items]
Shares granted (in shares)	10,300,000
Class A common stock
Class of Stock [Line Items]
Votes per share | vote				1
Common stock, shares authorized (in shares)		2,400,000,000		2,400,000,000
Common stock, par value (in dollars per share) | $ / shares		$ 0.00001		$ 0.00001
Common stock, shares issued (in shares)		238,900,000		238,900,000		256,000,000
Common stock, shares outstanding (in shares)		238,900,000		238,900,000		256,000,000
Class A common stock | Co-Founder Grant | Restricted Stock | Chief Executive Officer
Class of Stock [Line Items]
Shares granted (in shares)				8,300,000		8,300,000
Class B common stock
Class of Stock [Line Items]
Votes per share | vote				10
Common stock, shares authorized (in shares)		475,000,000		475,000,000
Common stock, par value (in dollars per share) | $ / shares		$ 0.00001		$ 0.00001
Shares converted in conversion (in shares)		300,000	500,000	1,000,000	1,000,000
Common stock, shares issued (in shares)		79,800,000		79,800,000		80,700,000
Common stock, shares outstanding (in shares)		79,800,000		79,800,000		80,700,000
Class C common stock
Class of Stock [Line Items]
Votes per share | vote				0
Common stock, shares authorized (in shares)		800,000,000		800,000,000
Common stock, par value (in dollars per share) | $ / shares		$ 0.00001		$ 0.00001
Common stock, shares issued (in shares)		0		0		0
Common stock, shares outstanding (in shares)		0		0		0

Stockholders_ Deficit - Stock r

Stockholders’ Deficit - Stock repurchase program (Narrative) (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Jul. 31, 2023	Feb. 28, 2022
Class of Stock [Line Items]
Stock repurchase program, authorized amount					$ 1,200	$ 1,200
Class A
Class of Stock [Line Items]
Stock repurchased and retired during period (in shares)	11.3	6.9	22.4	15
Stock repurchased and retired during period, aggregate purchase price	$ 262.2	$ 155.2	$ 543.8	$ 331.7

Stockholders_ Deficit - Equity

Stockholders’ Deficit - Equity incentive plans (Narrative) (Details) - USD ($) shares in Millions, $ in Millions	6 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued and outstanding (in shares)	0.2	0.2
2018 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period	10 years
Remaining unamortized stock-based compensation	$ 822.1
Award requisite period	2 years 9 months 18 days
2018 Plan | Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period	10 years
Vesting period	4 years
Equity Incentive Plans
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued and outstanding (in shares)	35.7
Shares available for grant (in shares)	117.3

Stockholders_ Deficit - Schedul

Stockholders’ Deficit - Schedule of Stock Option and Restricted Stock Activity (Details) $ / shares in Units, shares in Millions, $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2024 USD ($) $ / shares shares	Dec. 31, 2023 USD ($) $ / shares shares
Number of shares available for issuance under the Plans
Beginning balance (in shares)	110
Additional shares authorized (in shares)	16.8
Options and restricted stock units and awards canceled (in shares)	3.2
Shares withheld related to net share settlement of restricted stock units and awards (in shares)	2.7
Options and restricted stock units and awards granted (in shares)	(15.4)
Ending balance (in shares)	117.3	110
Options outstanding, Number of shares outstanding under the Plans
Beginning balance (in shares)	0.2
Ending balance (in shares)	0.2	0.2
Vested at end of period (in shares)	0.2
Unvested at end of period (in shares)	0
Options outstanding, Weighted- average exercise price per share
Beginning balance (in dollars per share) | $ / shares	$ 13.54
Ending balance (in dollars per share) | $ / shares	14.67	$ 13.54
Vested at end of period (in dollars per share) | $ / shares	14.67
Unvested at end of period (in dollars per share) | $ / shares	$ 0
Options outstanding, Weighted- average remaining contractual term (In years)
Weighted-average contractual term	3 years 3 months 18 days	3 years 10 months 24 days
Vested at end of period	3 years 3 months 18 days
Options outstanding, aggregate intrinsic value | $	$ 0.9	$ 2.2
Vested at end of period, aggregate intrinsic value | $	0.9
Unvested at end of period, aggregate intrinsic value | $	$ 0
Restricted Stock
Restricted stock outstanding, Number of shares outstanding under the Plans
Beginning balance (in shares)	30.4
Options exercised and restricted stock units and awards released (in shares)	(7.1)
Options and restricted stock units and awards canceled (in shares)	(3.2)
Options and restricted stock units and awards granted (in shares)	15.4
Ending balance (in shares)	35.5	30.4
Vested at end of period (in shares)	0
Restricted stock outstanding, Weighted- average grant date fair value per share
Beginning balance (in dollars per share) | $ / shares	$ 23.16
Options exercised and restricted stock units and awards released (in dollars per share) | $ / shares	23.45
Options and restricted stock units and awards canceled (in dollars per share) | $ / shares	23.90
Options and restricted stock units and awards granted (in dollars per share) | $ / shares	24.53
Ending balance (in dollars per share) | $ / shares	23.63	$ 23.16
Vested at end of period (in dollars per share) | $ / shares	$ 0

Stockholders_ Deficit - Sched_2

Stockholders’ Deficit - Schedule of Pre-Tax Intrinsic Value of Options Exercised (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Stockholders' Equity Note [Abstract]
Intrinsic value of options exercised	$ 0.2	$ 1.3	$ 0.4	$ 2.2

Stockholders_ Deficit - Co-Foun

Stockholders’ Deficit - Co-Founder Grant (Narrative) (Details) shares in Millions, $ in Millions	1 Months Ended	3 Months Ended			6 Months Ended
	Dec. 31, 2017 tranche shares	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Dec. 31, 2021 shares	Jun. 30, 2024 USD ($) shares	Jun. 30, 2023 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated share-based compensation expense | $		$ 90.5	$ 95.3		$ 168.5	$ 171.3
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted (in shares)					15.4
Vesting period					4 years
Awards vesting (in shares)					0
Co-Founder Grant | Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period	10 years
Number of tranches | tranche	9
Trading period	30 days
Allocated share-based compensation expense | $		0.7	$ 2		$ 1.8	$ 4.2
Remaining unamortized stock-based compensation | $		$ 0.6			$ 0.6
Co-Founder Grant | Restricted Stock | Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	4 years
Co-Founder Grant | Restricted Stock | Tranche One | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage vested maximum	20%
Co-Founder Grant | Chief Executive Officer | Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted (in shares)	10.3
Awards vesting (in shares)				2.1

Net Income Per Share - Schedule

Net Income Per Share - Schedule of Numerators and Denominators of Basic and Diluted EPS Computations (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Numerator
Net income attributable to common stockholders	$ 110.5	$ 43.2	$ 242.8	$ 112.2
Weighted-average number of common shares outstanding used in computing basic net income per share (in shares)	322.4	341.4	328.6	344.2
Net income per common share, basic (in dollars per share)	$ 0.34	$ 0.13	$ 0.74	$ 0.33
Weighted-average number of common shares outstanding used in computing diluted net income per share (in shares)	323.7	343.8	332.4	346.8
Net income per common share, diluted (in dollars per share)	$ 0.34	$ 0.13	$ 0.73	$ 0.32
Class A
Numerator
Net income attributable to common stockholders	$ 83.1	$ 32.9	$ 183.5	$ 85.6
Weighted-average number of common shares outstanding used in computing basic net income per share (in shares)	242.5	260	248.4	262.6
Net income per common share, basic (in dollars per share)	$ 0.34	$ 0.13	$ 0.74	$ 0.33
Reallocation of net income as a result of conversion of Class B to Class A common stock	$ 27.4	$ 10.3	$ 59.3	$ 26.6
Reallocation of net income to Class B common stock	0	0	0	0
Net income attributable to common stockholders for diluted EPS	$ 110.5	$ 43.2	$ 242.8	$ 112.2
Weighted-average effect of dilutive restricted stock units and awards and employee stock options (in shares)	1.3	2.4	3.8	2.6
Conversion of Class B to Class A common stock (in shares)	79.9	81.4	80.2	81.6
Weighted-average number of common shares outstanding used in computing diluted net income per share (in shares)	323.7	343.8	332.4	346.8
Net income per common share, diluted (in dollars per share)	$ 0.34	$ 0.13	$ 0.73	$ 0.32
Class B
Numerator
Net income attributable to common stockholders	$ 27.4	$ 10.3	$ 59.3	$ 26.6
Weighted-average number of common shares outstanding used in computing basic net income per share (in shares)	79.9	81.4	80.2	81.6
Net income per common share, basic (in dollars per share)	$ 0.34	$ 0.13	$ 0.74	$ 0.33
Reallocation of net income as a result of conversion of Class B to Class A common stock	$ 0	$ 0	$ 0	$ 0
Reallocation of net income to Class B common stock	(0.2)	(0.1)	(0.7)	(0.2)
Net income attributable to common stockholders for diluted EPS	$ 27.2	$ 10.2	$ 58.6	$ 26.4
Weighted-average effect of dilutive restricted stock units and awards and employee stock options (in shares)	0	0	0	0
Conversion of Class B to Class A common stock (in shares)	0	0	0	0
Weighted-average number of common shares outstanding used in computing diluted net income per share (in shares)	79.9	81.4	80.2	81.6
Net income per common share, diluted (in dollars per share)	$ 0.34	$ 0.13	$ 0.73	$ 0.32

Net Income Per Share - Schedu_2

Net Income Per Share - Schedule of Weighted-Average Impact of Potentially Dilutive Securities (Details) - shares shares in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	102.8	99.4	88.5	99.7
Restricted stock units and awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	18.9	15.4	4.6	15.7
Options to purchase shares of common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	0	0.1	0	0.1
Co-Founder Grant
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	8.3	8.3	8.3	8.3
Convertible Senior Notes
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	37.8	37.8	37.8	37.8
Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	37.8	37.8	37.8	37.8

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Provision for income taxes	$ 23.1	$ 15.8	$ 41.9	$ 34.4
Increase in unrecognized tax benefits			11.6
Increase in unrecognized tax benefits, excluding adjustments			11.4
Unrecognized tax benefits that would impact effective tax rate	8.7		8.7
Unrecognized tax benefit that would result in adjustment to deferred tax assets	$ 2.7		$ 2.7

Geographic Areas (Details)

Geographic Areas (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Segment Reporting Information [Line Items]
Property and equipment, net	$ 323.7		$ 323.7		$ 309.2
Revenue	634.5	$ 622.5	1,265.8	$ 1,233.6
United States
Segment Reporting Information [Line Items]
Property and equipment, net	317.2		317.2		302.4
Revenue	361.7	353.7	720	699.6
International
Segment Reporting Information [Line Items]
Property and equipment, net	6.5		6.5		$ 6.8
Revenue	$ 272.8	$ 268.8	$ 545.8	$ 534