Pinterest (PINS) 10-Q 30 Oct 23 2023 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2023	Oct. 24, 2023
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2023
Document Transition Report	false
Entity File Number	001-38872
Entity Registrant Name	Pinterest, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	26-3607129
Entity Address, Address Line One	651 Brannan Street
Entity Address, City or Town	San Francisco
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94107
City Area Code	415
Local Phone Number	762-7100
Title of 12(b) Security	Class A Common Stock, $0.00001 par value
Trading Symbol	PINS
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Document Fiscal Period Focus	Q3
Amendment Flag	false
Document Fiscal Year Focus	2023
Current Fiscal Year End Date	--12-31
Entity Central Index Key	0001506293
Class A Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		586,342,235
Class B Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		88,016,296

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 1,168,419	$ 1,611,063
Marketable securities	1,162,260	1,087,164
Accounts receivable, net of allowances of $9,554 and $12,672 as of September 30, 2023 and December 31, 2022, respectively	624,223	681,532
Prepaid expenses and other current assets	84,365	74,918
Total current assets	3,039,267	3,454,677
Property and equipment, net	26,998	59,575
Operating lease right-of-use assets	105,300	206,253
Goodwill and intangible assets, net	119,302	124,822
Other assets	13,715	17,403
Total assets	3,304,582	3,862,730
Current liabilities:
Accounts payable	71,490	87,920
Accrued expenses and other current liabilities	232,855	292,611
Total current liabilities	304,345	380,531
Operating lease liabilities	170,860	178,694
Other liabilities	22,735	21,851
Total liabilities	497,940	581,076
Commitments and contingencies
Stockholders’ equity:
Class A common stock, $0.00001 par value, 6,666,667 shares authorized, 585,737 and 593,918 shares issued and outstanding as of September 30, 2023 and December 31, 2022, respectively; Class B common stock, $0.00001 par value, 1,333,333 shares authorized, 87,902 and 89,284 shares issued and outstanding as of September 30, 2023 and December 31, 2022, respectively	7	7
Additional paid-in capital	5,165,530	5,407,724
Accumulated other comprehensive loss	(7,449)	(11,419)
Accumulated deficit	(2,351,446)	(2,114,658)
Total stockholders’ equity	2,806,642	3,281,654
Total liabilities and stockholders’ equity	$ 3,304,582	$ 3,862,730

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Allowances	$ 9,554	$ 12,672
Class A Common Stock
Common stock, par value (in dollars per share)	$ 0.00001	$ 0.00001
Common stock, shares authorized (in shares)	6,666,667	6,666,667
Common stock, shares issued (in shares)	585,737	593,918
Common stock, shares outstanding (in shares)	585,737	593,918
Class B Common Stock
Common stock, par value (in dollars per share)	$ 0.00001	$ 0.00001
Common stock, shares authorized (in shares)	1,333,333	1,333,333
Common stock, shares issued (in shares)	87,902	89,284
Common stock, shares outstanding (in shares)	87,902	89,284

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Statement [Abstract]
Revenue	$ 763,203	$ 684,550	$ 2,073,809	$ 1,925,365
Costs and expenses:
Cost of revenue	170,998	182,603	510,664	493,569
Research and development	264,698	254,684	800,435	683,740
Sales and marketing	225,929	229,873	670,299	615,863
General and administrative	106,577	86,765	414,339	239,738
Total costs and expenses	768,202	753,925	2,395,737	2,032,910
Loss from operations	(4,999)	(69,375)	(321,928)	(107,545)
Interest income (expense), net	26,691	8,928	76,480	13,649
Other income (expense), net	(4,596)	(9,726)	(2,094)	(20,822)
Income (loss) before provision for (benefit from) income taxes	17,096	(70,173)	(247,542)	(114,718)
Provision for (benefit from) income taxes	10,363	(4,992)	(10,754)	(1,180)
Net income (loss)	$ 6,733	$ (65,181)	$ (236,788)	$ (113,538)
Net income (loss) per share:
Basic (in dollars per share)	$ 0.01	$ (0.10)	$ (0.35)	$ (0.17)
Diluted (in dollars per share)	$ 0.01	$ (0.10)	$ (0.35)	$ (0.17)
Weighted-average shares used in computing net income (loss) per share:
Basic (in shares)	669,261	669,171	674,853	662,816
Diluted (in shares)	687,101	669,171	674,853	662,816

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 6,733	$ (65,181)	$ (236,788)	$ (113,538)
Other comprehensive income (loss), net of taxes:
Change in unrealized gain (loss) on available-for-sale marketable securities	1,646	(1,772)	4,404	(11,810)
Change in foreign currency translation adjustment	(389)	(1,075)	(434)	(2,114)
Comprehensive income (loss)	$ 7,990	$ (68,028)	$ (232,818)	$ (127,462)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands	Total	Class A and Class B Common Stock	Additional Paid-In Capital	Accumulated Other Comprehensive Loss	Accumulated Deficit
Beginning balance (in shares) at Dec. 31, 2021		656,872
Beginning balance at Dec. 31, 2021	$ 3,038,743	$ 7	$ 5,059,528	$ (2,181)	$ (2,018,611)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Release of restricted stock units and issuance of restricted stock awards, net (in shares)		15,471
Shares repurchased for tax withholdings on release of restricted stock units and restricted stock awards	(98,357)		(98,357)
Issuance of common stock for cash upon exercise of stock options, net (in shares)		4,806
Issuance of common stock for cash upon exercise of stock options, net	4,807		4,807
Share-based compensation	326,811		326,811
Other comprehensive income (loss)	(13,924)			(13,924)
Net income (loss)	(113,538)				(113,538)
Ending balance (in shares) at Sep. 30, 2022		677,149
Ending balance at Sep. 30, 2022	3,144,542	$ 7	5,292,789	(16,105)	(2,132,149)
Beginning balance (in shares) at Jun. 30, 2022		670,126
Beginning balance at Jun. 30, 2022	3,136,089	$ 7	5,216,308	(13,258)	(2,066,968)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Release of restricted stock units and issuance of restricted stock awards, net (in shares)		6,774
Shares repurchased for tax withholdings on release of restricted stock units and restricted stock awards	(60,404)		(60,404)
Issuance of common stock for cash upon exercise of stock options, net (in shares)		249
Issuance of common stock for cash upon exercise of stock options, net	727		727
Share-based compensation	136,158		136,158
Other comprehensive income (loss)	(2,847)			(2,847)
Net income (loss)	(65,181)				(65,181)
Ending balance (in shares) at Sep. 30, 2022		677,149
Ending balance at Sep. 30, 2022	3,144,542	$ 7	5,292,789	(16,105)	(2,132,149)
Beginning balance (in shares) at Dec. 31, 2022		683,202
Beginning balance at Dec. 31, 2022	3,281,654	$ 7	5,407,724	(11,419)	(2,114,658)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Release of restricted stock units and issuance of restricted stock awards, net (in shares)		9,487
Shares repurchased for tax withholdings on release of restricted stock units and restricted stock awards	$ (243,926)		(243,926)
Issuance of common stock for cash upon exercise of stock options, net (in shares)	1,666	1,666
Issuance of common stock for cash upon exercise of stock options, net	$ 4,664		4,664
Issuance of common stock related to charitable contributions (in shares)		500
Issuance of common stock related to charitable contributions	12,890		12,890
Repurchases of Class A common stock (in shares)		(21,216)
Repurchases of Class A common stock	(500,455)		(500,455)
Share-based compensation	484,633		484,633
Other comprehensive income (loss)	3,970			3,970
Net income (loss)	(236,788)				(236,788)
Ending balance (in shares) at Sep. 30, 2023		673,639
Ending balance at Sep. 30, 2023	2,806,642	$ 7	5,165,530	(7,449)	(2,351,446)
Beginning balance (in shares) at Jun. 30, 2023		669,516
Beginning balance at Jun. 30, 2023	2,693,082	$ 7	5,059,960	(8,706)	(2,358,179)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Release of restricted stock units and issuance of restricted stock awards, net (in shares)		3,232
Shares repurchased for tax withholdings on release of restricted stock units and restricted stock awards	(80,723)		(80,723)
Issuance of common stock for cash upon exercise of stock options, net (in shares)		391
Issuance of common stock for cash upon exercise of stock options, net	1,448		1,448
Issuance of common stock related to charitable contributions (in shares)		500
Issuance of common stock related to charitable contributions	12,890		12,890
Repurchases of Class A common stock	74		74
Share-based compensation	171,881		171,881
Other comprehensive income (loss)	1,257			1,257
Net income (loss)	6,733				6,733
Ending balance (in shares) at Sep. 30, 2023		673,639
Ending balance at Sep. 30, 2023	$ 2,806,642	$ 7	$ 5,165,530	$ (7,449)	$ (2,351,446)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Operating activities
Net income (loss)	$ (236,788)	$ (113,538)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	16,185	26,884
Share-based compensation	484,633	326,811
Non-cash charitable contributions	12,890	0
Impairment and abandonment charges for leases and leasehold improvements	117,315	0
Other	(15,470)	10,731
Changes in assets and liabilities:
Accounts receivable	59,303	144,083
Prepaid expenses and other assets	(2,308)	(37,960)
Operating lease right-of-use assets	43,785	39,140
Accounts payable	(16,711)	71,603
Accrued expenses and other liabilities	(54,780)	(17,852)
Operating lease liabilities	(53,373)	(38,990)
Net cash provided by operating activities	354,681	410,912
Investing activities
Purchases of property and equipment and intangible assets	(3,780)	(27,931)
Purchases of marketable securities	(1,065,445)	(688,146)
Sales of marketable securities	31,709	4,168
Maturities of marketable securities	978,804	735,819
Acquisition of business, net of cash acquired	0	(86,059)
Net cash used in investing activities	(58,712)	(62,149)
Financing activities
Proceeds from exercise of stock options, net	4,664	4,807
Repurchases of Class A common stock	(500,000)	0
Shares repurchased for tax withholdings on release of restricted stock units and restricted stock awards	(243,926)	(98,357)
Net cash used in financing activities	(739,262)	(93,550)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	648	(3,558)
Net increase (decrease) in cash, cash equivalents and restricted cash	(442,645)	251,655
Cash, cash equivalents and restricted cash, beginning of period	1,617,660	1,427,064
Cash, cash equivalents and restricted cash, end of period	1,175,015	1,678,719
Supplemental cash flow information
Operating lease right-of-use assets obtained in exchange for operating lease liabilities	$ 35,347	$ 19,783

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 30, 2022
Reconciliation of cash, cash equivalents and restricted cash to condensed consolidated balance sheets
Cash and cash equivalents	$ 1,168,419	$ 1,671,320
Restricted cash included in prepaid expenses and other current assets	2,542	1,869
Restricted cash included in other assets	4,054	5,530
Total cash, cash equivalents and restricted cash	$ 1,175,015	$ 1,678,719

Description of Business and Sum

Description of Business and Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Description of Business and Summary of Significant Accounting Policies	Description of Business and Summary of Significant Accounting Policies Description of Business Pinterest was incorporated in Delaware in 2008 and is headquartered in San Francisco, California. Pinterest is a visual discovery engine that people around the globe use to find the inspiration to create a life they love. We generate revenue by delivering ads on our website and mobile application. Basis of Presentation and Consolidation We prepared the accompanying condensed consolidated financial statements in accordance with generally accepted accounting principles in the United States ("GAAP"). The condensed consolidated financial statements include the accounts of Pinterest, Inc. and its wholly owned subsidiaries. We have eliminated all intercompany balances and transactions. The condensed consolidated balance sheet as of December 31, 2022 included herein was derived from the audited financial statements as of that date. We have condensed or omitted certain information and notes normally included in complete financial statements prepared in accordance with GAAP. As such, these unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements as of and for the year ended December 31, 2022, which are included in our Annual Report on Form 10-K. In our opinion, the accompanying condensed consolidated financial statements reflect all normal recurring adjustments necessary to present fairly the results for the interim periods presented, but they are not necessarily indicative of the results of operations to be expected for the year ending December 31, 2023. Reclassifications We have reclassified certain amounts in prior periods to conform with current presentation. Use of Estimates Preparing our condensed consolidated financial statements in conformity with GAAP requires us to make estimates and judgments that affect amounts reported in the condensed consolidated financial statements and accompanying notes. We base these estimates and judgments on historical experience and various other assumptions that we consider reasonable. GAAP requires us to make estimates and assumptions in several areas, including the fair values of financial instruments, leases, assets acquired and liabilities assumed through business combinations, share-based awards, and contingencies as well as the collectability of our accounts receivable, the useful lives of our intangible assets and property and equipment, the incremental borrowing rate we use to determine our operating lease liabilities, and revenue recognition, among others. Actual results could differ materially from these estimates and judgments. Significant Accounting Policies There have been no material changes to our significant accounting policies from our Annual Report on Form 10-K for the year ended December 31, 2022.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Fair Value of Financial Instruments The fair values of the financial instruments we measure at fair value on a recurring basis are as follows (in thousands): September 30, 2023 Level 1 Level 2 Level 3 Total Cash equivalents: Money market funds $ 869,051 $ — $ — $ 869,051 Commercial paper — 80,604 — 80,604 Marketable securities: Corporate bonds — 359,680 — 359,680 Commercial paper — 245,549 — 245,549 U.S. treasury securities 292,659 — — 292,659 Certificates of deposit — 157,821 — 157,821 U.S. agency bonds — 85,984 — 85,984 Non-U.S. government and supranational bonds — 14,552 — 14,552 Municipal securities — 6,015 — 6,015 Prepaid expenses and other current assets: Certificates of deposit — 2,542 — 2,542 Other assets: Certificates of deposit $ — $ 4,054 $ — $ 4,054 December 31, 2022 Level 1 Level 2 Level 3 Total Cash equivalents: Money market funds $ 1,017,191 $ — $ — $ 1,017,191 Commercial paper — 111,975 — 111,975 Corporate bonds — 1,542 — 1,542 U.S. treasury securities 5,990 — — 5,990 Marketable securities: Corporate bonds — 363,075 — 363,075 Commercial paper — 241,192 — 241,192 U.S. treasury securities 242,916 — — 242,916 Certificates of deposit — 158,246 — 158,246 Municipal securities — 27,449 — 27,449 Non-U.S. government and supranational bonds — 22,599 — 22,599 U.S. agency bonds — 31,687 — 31,687 Prepaid expenses and other current assets: Certificates of deposit — 1,067 — 1,067 Other assets: Certificates of deposit $ — $ 5,530 $ — $ 5,530 We classify our marketable securities within Level 1 or Level 2 because we determine their fair values using quoted market prices or alternative pricing sources and models utilizing market observable inputs. Gross unrealized gains and losses on our marketable securities were immaterial in the aggregate as of September 30, 2023 and December 31, 2022. We evaluated all available evidence and did not recognize any allowance for credit losses for our marketable securities as of September 30, 2023 and December 31, 2022. The fair value of our marketable securities by contractual maturity is as follows (in thousands): September 30, 2023 Due in one year or less $ 893,173 Due after one to five years 269,087 Total $ 1,162,260 Net realized gains and losses from sales of available-for-sale securities were not material for any period presented.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Purchase Commitments In April 2021, we entered into a private pricing addendum with Amazon Web Services (“AWS”), which governs our use of cloud computing infrastructure provided by AWS. Under the pricing addendum, we are required to purchase at least $3,250.0 million of cloud services from AWS through April 2029. If we fail to do so, we are required to pay the difference between the amount we spend and the required commitment amount. As of September 30, 2023, our remaining contractual commitment is $1,908.7 million. We expect to meet our remaining commitment. Legal Matters We are involved in various lawsuits, claims and proceedings that arise in the ordinary course of business. While the results of legal matters are inherently uncertain, we do not believe there is a reasonable possibility that the ultimate resolution of these matters, either individually or in aggregate, will have a material adverse effect on our business, financial position, results of operations or cash flows.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Stockholders' Equity	Stockholders' Equity Equity Incentive Plan In June 2009, our board of directors adopted and approved our 2009 Stock Plan (the "2009 Plan"), which provides for the issuance of stock options, Restricted Stock Awards ("RSAs") and Restricted Stock Units ("RSUs") to qualified employees, directors and consultants. Stock options granted under our 2009 Plan have a maximum life of 10 years and an exercise price not less than 100% of the fair market value of our common stock on the date of grant. RSUs granted under our 2009 Plan have a maximum life of seven years. No shares of our common stock were reserved for future issuance under our 2009 Plan as of September 30, 2023. Our 2019 Omnibus Incentive Plan ("2019 Plan") became effective upon closing of our initial public offering and succeeds our 2009 Plan. Our 2019 Plan provides for the issuance of stock options, RSAs, RSUs and other equity- or cash-based awards to qualified employees, directors and consultants. Stock options granted under our 2019 Plan have a maximum life of 10 years and an exercise price not less than 100% of the fair market value of our common stock on the date of grant. 142,711,633 shares of our Class A common stock were reserved for future issuance under our 2019 Plan as of September 30, 2023. The number of shares of our Class A common stock available for issuance under the 2019 Plan will be increased by the number of shares of our Class B common stock subject to awards outstanding under our 2009 Plan that would, but for the terms of the 2019 Plan, have returned to the share reserves of the 2009 Plan pursuant to the terms of such awards, including as the result of forfeiture, repurchase, expiration or retention by us in order to satisfy an award’s exercise price or tax withholding obligations. In addition, the number of shares of our Class A common stock reserved for issuance under our 2019 Plan will automatically increase on the first day of each fiscal year through and including January 1, 2029, in an amount equal to 5% of the total number of shares of our Class A common stock and our Class B common stock outstanding on the last day of the calendar month before the date of each automatic increase, or a lesser number of shares determined by our board of directors. Stock Option Activity Stock option activity during the nine months ended September 30, 2023, was as follows (in thousands, except per share amounts): Stock Options Outstanding Shares Weighted-Average Exercise Price Weighted-Average Remaining Contractual Term Aggregate Intrinsic Value (1) (in years) Outstanding as of December 31, 2022 15,799 $ 13.25 6.1 $ 174,165 Exercised (1,666) 2.80 Outstanding as of September 30, 2023 14,133 $ 14.49 5.9 $ 177,236 Exercisable as of September 30, 2023 7,648 $ 9.83 3.5 $ 131,553 (1) We calculate intrinsic value based on the difference between the exercise price of in-the-money-stock options and the fair value of our common stock as of the respective balance sheet date. The total grant-date fair value of stock options vested during the nine months ended September 30, 2023 and 2022, was $21.3 million and $2.4 million, respectively. The aggregate intrinsic value of stock options exercised during the nine months ended September 30, 2023 and 2022 was $38.9 million and $88.2 million, respectively. Restricted Stock Unit and Restricted Stock Award Activity RSU and RSA activity during the nine months ended September 30, 2023, was as follows (in thousands, except per share amounts): Restricted Stock Units and Restricted Stock Awards Outstanding Shares Weighted Average Grant Date Fair Value Outstanding as of December 31, 2022 54,518 $ 25.46 Granted (1) 25,184 25.14 Released (21,213) 24.89 Forfeited (1) (7,090) 23.44 Outstanding as of September 30, 2023 51,399 $ 25.82 (1) Includes the effects of awards modified during the nine months ended September 30, 2023. Share-Based Compensation Share-based compensation expense during the three and nine months ended September 30, 2023 and 2022, was as follows (in thousands): Three Months Ended Nine Months Ended 2023 2022 2023 2022 Cost of revenue $ 2,989 $ 2,189 $ 8,038 $ 4,800 Research and development 112,879 89,669 315,724 223,995 Sales and marketing 25,857 23,294 71,444 53,564 General and administrative 30,156 21,006 89,427 44,452 Total share-based compensation $ 171,881 $ 136,158 $ 484,633 $ 326,811 As of September 30, 2023, we had $1,284.2 million of unrecognized share-based compensation expense, which we expect to recognize over a weighted-average period of 2.4 years. Stock Repurchase On February 2, 2023, our board of directors authorized a stock repurchase program of up to $500.0 million of our Class A common stock, which we completed in the second quarter of 2023. Under the program, we repurchased and retired 21,215,663 shares of our Class A common stock for an aggregate purchase price of $500.5 million, including $0.5 million excise tax resulting from the Inflation Reduction Act of 2022. On September 16, 2023, our board of directors authorized a new stock repurchase program of up to $1.0 billion of our Class A common stock. Under the stock repurchase program, we are authorized to repurchase, from time-to-time, shares of our Class A common stock through open market purchases, in privately negotiated transactions or in such other manner as permitted by securities law and as determined by management at such time and in such amounts as management may decide. The program does not obligate us to repurchase any specific number of shares and may be modified, suspended or discontinued at any time. The timing, manner, price and amount of any repurchases are determined by management in its discretion and depend on a variety of factors, including legal requirements, price and economic and market conditions. As of September 30, 2023, $1.0 billion remains available for repurchases under the stock repurchase program.

Net Income (Loss) Per Share

Net Income (Loss) Per Share	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Net Income (Loss) Per Share	Net Income (Loss) Per Share We present net income (loss) per share using the two-class method required for multiple classes of common stock. Holders of our Class A and Class B common stock have identical rights except with respect to voting, conversion and transfer rights and therefore share equally in our net income or losses. We calculate basic net income (loss) per share by dividing net income (loss) by the weighted-average number of shares of common stock outstanding during the period. Diluted income (loss) per share gives effect to all potential shares of common stock, including stock options, RSAs and RSUs, to the extent these are dilutive. The calculation of diluted net income (loss) of Class A common stock assumes the conversion of our Class B common stock to Class A common stock, while the diluted net income (loss) of Class B common stock does not assume the conversion of those shares to Class A common stock. We calculated basic and diluted net income (loss) per share as follows (in thousands, except per share amounts): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Class A Class B Class A Class B Class A Class B Class A Class B Basic net income (loss) per share: Numerator: Net income (loss) $ 5,847 $ 886 $ (56,362) $ (8,819) $ (205,602) $ (31,186) $ (98,224) $ (15,314) Denominator: Basic weighted-average shares used in computing net income (loss) per share 581,235 88,026 578,637 90,534 585,973 88,880 573,415 89,401 Basic net income (loss) per share $ 0.01 $ 0.01 $ (0.10) $ (0.10) $ (0.35) $ (0.35) $ (0.17) $ (0.17) Diluted net income (loss) per share: Numerator: Net income (loss) $ 5,847 $ 886 $ (56,362) $ (8,819) $ (205,602) $ (31,186) $ (98,224) $ (15,314) Reallocation of net income as a result of conversion of Class B to Class A common stock 886 — — — — — — — Reallocation of net income to Class B common stock — (25) — — — — — — Diluted net income (loss) $ 6,733 $ 861 $ (56,362) $ (8,819) $ (205,602) $ (31,186) $ (98,224) $ (15,314) Denominator Basic weighted-average shares used in computing net income (loss) per share 581,235 88,026 578,637 90,534 585,973 88,880 573,415 89,401 Conversion of Class B to Class A common stock 88,026 — — — — — — — Weighted average effect of dilutive potential common stock 17,840 — — — — — — — Diluted weighted-average shares used in computing net income (loss) per share 687,101 88,026 578,637 90,534 585,973 88,880 573,415 89,401 Diluted net income (loss) per share $ 0.01 $ 0.01 $ (0.10) $ (0.10) $ (0.35) $ (0.35) $ (0.17) $ (0.17) Basic net loss per share is the same as diluted net loss per share for the periods we reported net losses. We excluded the following weighted-average potential shares of common stock from our calculation of diluted net income (loss) per share because these would be anti-dilutive (in thousands): Three Months Ended Nine Months Ended 2023 2022 2023 2022 Outstanding stock options 8,553 20,004 14,750 17,063 Unvested restricted stock units and restricted stock awards 5,327 57,967 53,967 47,941 Total 13,880 77,971 68,717 65,004

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income TaxesWe determine our income tax provision for interim periods using an estimate of our annual effective tax rate adjusted for discrete items occurring during the periods presented. The primary difference between our effective tax rate and the federal statutory rate is the full valuation allowance we have established on our federal, state and foreign net operating losses and credits. Income taxes are not material for the three and nine months ended September 30, 2023 and 2022. All periods include the effects of the capitalization and amortization of research and development expenses as required by the 2017 Tax Cuts and Jobs Act.We are subject to taxation in the U.S. and various other state and foreign jurisdictions. As we have net operating loss carryforwards for U.S. federal and state jurisdictions, the statute of limitations is open for all tax years. For material foreign jurisdictions, the tax years open to examination include the years 2018 and forward.

Geographical Information

Geographical Information	9 Months Ended
	Sep. 30, 2023
Segment Reporting [Abstract]
Geographical Information	Geographical Information Revenue disaggregated by geography based on our customers’ billing addresses was as follows (in thousands): Three Months Ended Nine Months Ended 2023 2022 2023 2022 U.S. and Canada (1) $ 592,366 $ 562,434 $ 1,613,840 $ 1,555,233 Europe (2) 118,469 90,110 334,666 283,758 Rest of World 52,368 32,006 125,303 86,374 Total revenue $ 763,203 $ 684,550 $ 2,073,809 $ 1,925,365 (1) United States revenue was $560.0 million and $534.1 million for the three months ended September 30, 2023 and 2022, respectively, and $1,527.5 million and $1,475.3 million for the nine months ended September 30, 2023 and 2022, respectively. No individual country other than the United States exceeded 10% of our total revenue for any period presented. (2) Europe includes Russia and Turkey. Property and equipment, net and operating lease right-of-use assets by geography is as follows (in thousands): September 30, December 31, 2023 2022 United States $ 70,265 $ 205,374 Ireland 17,748 4,950 Mexico 13,762 11,627 International (1) 30,523 43,877 Total property and equipment, net and operating lease right-of-use assets $ 132,298 $ 265,828 (1) Other than the United States, Ireland and Mexico, no other country exceeded 10% of our total property and equipment, net and operating lease right-of-use assets for any period presented.

Restructuring

Restructuring	9 Months Ended
	Sep. 30, 2023
Restructuring and Related Activities [Abstract]
Restructuring	RestructuringIn March 2023, we initiated a restructuring plan intended to support our corporate strategy, improve efficiency and position our business in light of the ongoing macroeconomic environment (the “Plan”). As part of the Plan, we announced a workforce reduction of approximately 4%. We also ceased occupying and plan to sublease our former headquarters at 505 Brannan Street in San Francisco and abandoned certain other leased office spaces in order to adjust our office space footprint to better align with the needs of our flexible work model. As a result, we recorded impairment and abandonment charges for the related operating lease right-of-use assets and leasehold improvements. The Plan was completed and restructuring charges during the three months ended September 30, 2023 were immaterial. Restructuring charges during the nine months ended September 30, 2023 were as follows (in thousands): Nine Months Ended September 30, 2023 Office Space Reductions (1) Severance and Other Personnel Costs Total Cost of revenue $ — $ — $ — Research and development — 4,696 4,696 Sales and marketing — 2,749 2,749 General and administrative 117,315 2,122 119,437 Total $ 117,315 $ 9,567 $ 126,882 (1) Office space reductions are non-cash and include impairment charges and accelerated expense related to operating lease right-of-use assets and leasehold improvements. We estimated the fair value of the impaired assets using a discounted cash flow model based on market participant assumptions.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2023
Subsequent Events [Abstract]
Subsequent Events	Subsequent EventsIn October 2023, we amended our existing five-year $400.0 million revolving credit facility (the “2022 revolving credit facility”), which increased our aggregate commitment to $500.0 million and reduced our accordion option from $405.0 million to $305.0 million. There were no other material changes to the existing terms and conditions of the 2022 revolving credit facility. We are in compliance with all covenants, and there were no amounts outstanding under the credit facility as of the filing of the Quarterly Report on Form 10-Q.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Pay vs Performance Disclosure
Net income (loss)	$ 6,733	$ (65,181)	$ (236,788)	$ (113,538)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	9 Months Ended
	Sep. 30, 2023 shares	Sep. 30, 2023 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
Sabrina Ellis [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On August 14, 2023, Sabrina Ellis, our Chief Product Officer, adopted a trading plan intended to satisfy Rule 10b5-1(c) under the Exchange Act (“Rule 10b5-1(c)”) to sell, between November 15, 2023 and August 27, 2024, (a) up to 51,372 shares of our Class A common stock, and (b) up to 50% of net shares of our Class A common stock to be issued to Ms. Ellis after the satisfaction of applicable taxes following the vesting and settlement of 362,611 RSUs.
Name	Sabrina Ellis
Title	Chief Product Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	August 14, 2023
Arrangement Duration	286 days
Evan Sharp [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On August 15, 2023, Evan Sharp, a member of our board of directors, adopted a trading plan intended to satisfy Rule 10b5-1(c) to sell, between November 15, 2023 and October 16, 2024, (a) up to 765,859 shares of our Class B common stock, held directly or indirectly, and (b) the total number of shares of our Class B common stock to be issued to Mr. Sharp after the satisfaction of applicable taxes following the vesting and settlement of 350,001 RSUs.
Name	Evan Sharp
Title	member of our board of directors
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	August 15, 2023
Arrangement Duration	336 days
Sabrina Ellis Trading Arrangement, Class A Common Stock [Member] | Sabrina Ellis [Member]
Trading Arrangements, by Individual
Aggregate Available	51,372	51,372
Sabrina Ellis Trading Arrangement, RSUs [Member] | Sabrina Ellis [Member]
Trading Arrangements, by Individual
Aggregate Available	362,611	362,611
Evan Sharp Trading Arrangement, Class B Common Stock [Member] | Evan Sharp [Member]
Trading Arrangements, by Individual
Aggregate Available	765,859	765,859
Evan Sharp Trading Arrangement, RSUs [Member] | Evan Sharp [Member]
Trading Arrangements, by Individual
Aggregate Available	350,001	350,001

Description of Business and S_2

Description of Business and Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Basis of Presentation	We prepared the accompanying condensed consolidated financial statements in accordance with generally accepted accounting principles in the United States ("GAAP").
Consolidation	We have eliminated all intercompany balances and transactions.
Reclassifications	Reclassifications We have reclassified certain amounts in prior periods to conform with current presentation.
Use of Estimates	Use of Estimates Preparing our condensed consolidated financial statements in conformity with GAAP requires us to make estimates and judgments that affect amounts reported in the condensed consolidated financial statements and accompanying notes. We base these estimates and judgments on historical experience and various other assumptions that we consider reasonable. GAAP requires us to make estimates and assumptions in several areas, including the fair values of financial instruments, leases, assets acquired and liabilities assumed through business combinations, share-based awards, and contingencies as well as the collectability of our accounts receivable, the useful lives of our intangible assets and property and equipment, the incremental borrowing rate we use to determine our operating lease liabilities, and revenue recognition, among others. Actual results could differ materially from these estimates and judgments.
Net Loss Per Share Attributable to Common Stockholders	We present net income (loss) per share using the two-class method required for multiple classes of common stock. Holders of our Class A and Class B common stock have identical rights except with respect to voting, conversion and transfer rights and therefore share equally in our net income or losses. We calculate basic net income (loss) per share by dividing net income (loss) by the weighted-average number of shares of common stock outstanding during the period. Diluted income (loss) per share gives effect to all potential shares of common stock, including stock options, RSAs and RSUs, to the extent these are dilutive. The calculation of diluted net income (loss) of Class A common stock assumes the conversion of our Class B common stock to Class A common stock, while the diluted net income (loss) of Class B common stock does not assume the conversion of those shares to Class A common stock.

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Fair Values of Financial Instruments Measured on a Recurring Basis	The fair values of the financial instruments we measure at fair value on a recurring basis are as follows (in thousands): September 30, 2023 Level 1 Level 2 Level 3 Total Cash equivalents: Money market funds $ 869,051 $ — $ — $ 869,051 Commercial paper — 80,604 — 80,604 Marketable securities: Corporate bonds — 359,680 — 359,680 Commercial paper — 245,549 — 245,549 U.S. treasury securities 292,659 — — 292,659 Certificates of deposit — 157,821 — 157,821 U.S. agency bonds — 85,984 — 85,984 Non-U.S. government and supranational bonds — 14,552 — 14,552 Municipal securities — 6,015 — 6,015 Prepaid expenses and other current assets: Certificates of deposit — 2,542 — 2,542 Other assets: Certificates of deposit $ — $ 4,054 $ — $ 4,054 December 31, 2022 Level 1 Level 2 Level 3 Total Cash equivalents: Money market funds $ 1,017,191 $ — $ — $ 1,017,191 Commercial paper — 111,975 — 111,975 Corporate bonds — 1,542 — 1,542 U.S. treasury securities 5,990 — — 5,990 Marketable securities: Corporate bonds — 363,075 — 363,075 Commercial paper — 241,192 — 241,192 U.S. treasury securities 242,916 — — 242,916 Certificates of deposit — 158,246 — 158,246 Municipal securities — 27,449 — 27,449 Non-U.S. government and supranational bonds — 22,599 — 22,599 U.S. agency bonds — 31,687 — 31,687 Prepaid expenses and other current assets: Certificates of deposit — 1,067 — 1,067 Other assets: Certificates of deposit $ — $ 5,530 $ — $ 5,530
Fair Value of Marketable Securities by Contractual Maturity	The fair value of our marketable securities by contractual maturity is as follows (in thousands): September 30, 2023 Due in one year or less $ 893,173 Due after one to five years 269,087 Total $ 1,162,260

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Stock Option Activity	Stock option activity during the nine months ended September 30, 2023, was as follows (in thousands, except per share amounts): Stock Options Outstanding Shares Weighted-Average Exercise Price Weighted-Average Remaining Contractual Term Aggregate Intrinsic Value (1) (in years) Outstanding as of December 31, 2022 15,799 $ 13.25 6.1 $ 174,165 Exercised (1,666) 2.80 Outstanding as of September 30, 2023 14,133 $ 14.49 5.9 $ 177,236 Exercisable as of September 30, 2023 7,648 $ 9.83 3.5 $ 131,553 (1) We calculate intrinsic value based on the difference between the exercise price of in-the-money-stock options and the fair value of our common stock as of the respective balance sheet date.
Restricted Stock Unit Activity	RSU and RSA activity during the nine months ended September 30, 2023, was as follows (in thousands, except per share amounts): Restricted Stock Units and Restricted Stock Awards Outstanding Shares Weighted Average Grant Date Fair Value Outstanding as of December 31, 2022 54,518 $ 25.46 Granted (1) 25,184 25.14 Released (21,213) 24.89 Forfeited (1) (7,090) 23.44 Outstanding as of September 30, 2023 51,399 $ 25.82 (1) Includes the effects of awards modified during the nine months ended September 30, 2023.
Share-Based Compensation Expense	Share-based compensation expense during the three and nine months ended September 30, 2023 and 2022, was as follows (in thousands): Three Months Ended Nine Months Ended 2023 2022 2023 2022 Cost of revenue $ 2,989 $ 2,189 $ 8,038 $ 4,800 Research and development 112,879 89,669 315,724 223,995 Sales and marketing 25,857 23,294 71,444 53,564 General and administrative 30,156 21,006 89,427 44,452 Total share-based compensation $ 171,881 $ 136,158 $ 484,633 $ 326,811

Net Income (Loss) Per Share (Ta

Net Income (Loss) Per Share (Tables)	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Calculation of Basic and Diluted Net Income (Loss) Per Share	We calculated basic and diluted net income (loss) per share as follows (in thousands, except per share amounts): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Class A Class B Class A Class B Class A Class B Class A Class B Basic net income (loss) per share: Numerator: Net income (loss) $ 5,847 $ 886 $ (56,362) $ (8,819) $ (205,602) $ (31,186) $ (98,224) $ (15,314) Denominator: Basic weighted-average shares used in computing net income (loss) per share 581,235 88,026 578,637 90,534 585,973 88,880 573,415 89,401 Basic net income (loss) per share $ 0.01 $ 0.01 $ (0.10) $ (0.10) $ (0.35) $ (0.35) $ (0.17) $ (0.17) Diluted net income (loss) per share: Numerator: Net income (loss) $ 5,847 $ 886 $ (56,362) $ (8,819) $ (205,602) $ (31,186) $ (98,224) $ (15,314) Reallocation of net income as a result of conversion of Class B to Class A common stock 886 — — — — — — — Reallocation of net income to Class B common stock — (25) — — — — — — Diluted net income (loss) $ 6,733 $ 861 $ (56,362) $ (8,819) $ (205,602) $ (31,186) $ (98,224) $ (15,314) Denominator Basic weighted-average shares used in computing net income (loss) per share 581,235 88,026 578,637 90,534 585,973 88,880 573,415 89,401 Conversion of Class B to Class A common stock 88,026 — — — — — — — Weighted average effect of dilutive potential common stock 17,840 — — — — — — — Diluted weighted-average shares used in computing net income (loss) per share 687,101 88,026 578,637 90,534 585,973 88,880 573,415 89,401 Diluted net income (loss) per share $ 0.01 $ 0.01 $ (0.10) $ (0.10) $ (0.35) $ (0.35) $ (0.17) $ (0.17)
Weighted-Average Anti-Dilutive Shares of Common Stock Excluded from the Calculation of Diluted Net Income (Loss) Per Share	Basic net loss per share is the same as diluted net loss per share for the periods we reported net losses. We excluded the following weighted-average potential shares of common stock from our calculation of diluted net income (loss) per share because these would be anti-dilutive (in thousands): Three Months Ended Nine Months Ended 2023 2022 2023 2022 Outstanding stock options 8,553 20,004 14,750 17,063 Unvested restricted stock units and restricted stock awards 5,327 57,967 53,967 47,941 Total 13,880 77,971 68,717 65,004

Geographical Information (Table

Geographical Information (Tables)	9 Months Ended
	Sep. 30, 2023
Segment Reporting [Abstract]
Revenue Disaggregated by Geography	Revenue disaggregated by geography based on our customers’ billing addresses was as follows (in thousands): Three Months Ended Nine Months Ended 2023 2022 2023 2022 U.S. and Canada (1) $ 592,366 $ 562,434 $ 1,613,840 $ 1,555,233 Europe (2) 118,469 90,110 334,666 283,758 Rest of World 52,368 32,006 125,303 86,374 Total revenue $ 763,203 $ 684,550 $ 2,073,809 $ 1,925,365 (1) United States revenue was $560.0 million and $534.1 million for the three months ended September 30, 2023 and 2022, respectively, and $1,527.5 million and $1,475.3 million for the nine months ended September 30, 2023 and 2022, respectively. No individual country other than the United States exceeded 10% of our total revenue for any period presented. (2) Europe includes Russia and Turkey.
Property and Equipment, Net and Operating Lease Right-of-Use Assets by Geography	Property and equipment, net and operating lease right-of-use assets by geography is as follows (in thousands): September 30, December 31, 2023 2022 United States $ 70,265 $ 205,374 Ireland 17,748 4,950 Mexico 13,762 11,627 International (1) 30,523 43,877 Total property and equipment, net and operating lease right-of-use assets $ 132,298 $ 265,828 (1) Other than the United States, Ireland and Mexico, no other country exceeded 10% of our total property and equipment, net and operating lease right-of-use assets for any period presented.

Restructuring (Tables)

Restructuring (Tables)	9 Months Ended
	Sep. 30, 2023
Restructuring and Related Activities [Abstract]
Summary of Restructuring Charges	Restructuring charges during the nine months ended September 30, 2023 were as follows (in thousands): Nine Months Ended September 30, 2023 Office Space Reductions (1) Severance and Other Personnel Costs Total Cost of revenue $ — $ — $ — Research and development — 4,696 4,696 Sales and marketing — 2,749 2,749 General and administrative 117,315 2,122 119,437 Total $ 117,315 $ 9,567 $ 126,882 (1) Office space reductions are non-cash and include impairment charges and accelerated expense related to operating lease right-of-use assets and leasehold improvements. We estimated the fair value of the impaired assets using a discounted cash flow model based on market participant assumptions.

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Fair Values of Financial Instruments Measured on a Recurring Basis (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	$ 1,162,260
Recurring | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	359,680	$ 363,075
Recurring | Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	245,549	241,192
Recurring | U.S. treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	292,659	242,916
Recurring | Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	157,821	158,246
Prepaid expenses and other current assets	2,542	1,067
Other assets	4,054	5,530
Recurring | U.S. agency bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	85,984	31,687
Recurring | Non-U.S. government and supranational bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	14,552	22,599
Recurring | Municipal securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	6,015	27,449
Level 1 | Recurring | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Level 1 | Recurring | Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Level 1 | Recurring | U.S. treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	292,659	242,916
Level 1 | Recurring | Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Prepaid expenses and other current assets	0	0
Other assets	0	0
Level 1 | Recurring | U.S. agency bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Level 1 | Recurring | Non-U.S. government and supranational bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Level 1 | Recurring | Municipal securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Level 2 | Recurring | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	359,680	363,075
Level 2 | Recurring | Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	245,549	241,192
Level 2 | Recurring | U.S. treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Level 2 | Recurring | Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	157,821	158,246
Prepaid expenses and other current assets	2,542	1,067
Other assets	4,054	5,530
Level 2 | Recurring | U.S. agency bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	85,984	31,687
Level 2 | Recurring | Non-U.S. government and supranational bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	14,552	22,599
Level 2 | Recurring | Municipal securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	6,015	27,449
Level 3 | Recurring | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Level 3 | Recurring | Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Level 3 | Recurring | U.S. treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Level 3 | Recurring | Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Prepaid expenses and other current assets	0	0
Other assets	0	0
Level 3 | Recurring | U.S. agency bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Level 3 | Recurring | Non-U.S. government and supranational bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Level 3 | Recurring | Municipal securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Money market funds | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	869,051	1,017,191
Money market funds | Level 1 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	869,051	1,017,191
Money market funds | Level 2 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Money market funds | Level 3 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Commercial paper | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	80,604	111,975
Commercial paper | Level 1 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Commercial paper | Level 2 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	80,604	111,975
Commercial paper | Level 3 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	$ 0	0
Corporate bonds | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents		1,542
Corporate bonds | Level 1 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents		0
Corporate bonds | Level 2 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents		1,542
Corporate bonds | Level 3 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents		0
U.S. treasury securities | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents		5,990
U.S. treasury securities | Level 1 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents		5,990
U.S. treasury securities | Level 2 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents		0
U.S. treasury securities | Level 3 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents		$ 0

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Fair Value of Marketable Securities by Contractual Maturity (Details) $ in Thousands	Sep. 30, 2023 USD ($)
Fair Value Disclosures [Abstract]
Due in one year or less	$ 893,173
Due after one to five years	269,087
Total	$ 1,162,260

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Millions	Sep. 30, 2023	Apr. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Minimum required purchases	$ 1,908.7	$ 3,250

Stockholders' Equity - Narrativ

Stockholders' Equity - Narrative (Details) - USD ($) $ in Thousands		3 Months Ended	9 Months Ended
	Feb. 02, 2023	Sep. 30, 2023	Sep. 30, 2023	Sep. 30, 2022	Sep. 16, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant-date fair value of stock options vested			$ 21,300	$ 2,400
Aggregate intrinsic value of stock options exercised			38,900	$ 88,200
Unrecognized share-based compensation expense		$ 1,284,200	$ 1,284,200
Weighted-average recognition period for unrecognized share-based compensation expense			2 years 4 months 24 days
Repurchases of Class A common stock		(74)	$ 500,455
Stock Repurchase Program , February 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Authorized share repurchase amount	$ 500,000
Repurchases of Class A common stock (in shares)	21,215,663
Repurchases of Class A common stock	$ 500,500
Excise tax	$ 500
Stock Repurchase Program , September 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Authorized share repurchase amount					$ 1,000,000
Stock remaining available for repurchases		$ 1,000,000	$ 1,000,000
2009 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved for issuance (in shares)		0	0
2019 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of outstanding shares, additional reserve			5%
2019 Plan | Class A
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved for issuance (in shares)		142,711,633	142,711,633
Stock Options | 2009 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period			10 years
Stock Options | 2019 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period			10 years
RSUs | 2009 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period			7 years

Stockholders' Equity - Stock Op

Stockholders' Equity - Stock Option Activity (Details) $ / shares in Units, shares in Thousands, $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2023 USD ($) $ / shares shares	Dec. 31, 2022 USD ($) $ / shares shares
Shares
Beginning balance (in shares) | shares	15,799
Exercised (in shares) | shares	(1,666)
Ending balance (in shares) | shares	14,133	15,799
Exercisable (in shares) | shares	7,648
Weighted-Average Exercise Price
Beginning balance (in dollars per share) | $ / shares	$ 13.25
Exercised (in dollars per share) | $ / shares	2.80
Ending balance (in dollars per share) | $ / shares	14.49	$ 13.25
Exercisable (in dollars per share) | $ / shares	$ 9.83
Weighted-Average Remaining Contractual Term, Outstanding	5 years 10 months 24 days	6 years 1 month 6 days
Weighted-Average Remaining Contractual Term, Exercisable	3 years 6 months
Aggregate Intrinsic Value, Outstanding | $	$ 177,236	$ 174,165
Aggregate Intrinsic Value, Exercisable | $	$ 131,553

Stockholders' Equity - Restrict

Stockholders' Equity - Restricted Stock Unit Activity (Details) - Restricted Stock Units and Restricted Stock Awards Outstanding shares in Thousands	9 Months Ended
	Sep. 30, 2023 $ / shares shares
Shares
Beginning balance (in shares) | shares	54,518
Granted (in shares) | shares	25,184
Released (in shares) | shares	(21,213)
Forfeited (in shares) | shares	(7,090)
Ending balance (in shares) | shares	51,399
Weighted Average Grant Date Fair Value
Beginning balance (in dollars per share) | $ / shares	$ 25.46
Granted (in dollars per share) | $ / shares	25.14
Released (in dollars per share) | $ / shares	24.89
Forfeited (in dollars per share) | $ / shares	23.44
Ending balance (in dollars per share) | $ / shares	$ 25.82

Stockholders' Equity - Share-ba

Stockholders' Equity - Share-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share based compensation expense	$ 171,881	$ 136,158	$ 484,633	$ 326,811
Cost of revenue
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share based compensation expense	2,989	2,189	8,038	4,800
Research and development
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share based compensation expense	112,879	89,669	315,724	223,995
Sales and marketing
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share based compensation expense	25,857	23,294	71,444	53,564
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share based compensation expense	$ 30,156	$ 21,006	$ 89,427	$ 44,452

Net Income (Loss) Per Share - C

Net Income (Loss) Per Share - Calculation of Basic and Diluted Net Income (Loss) Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Denominator:
Basic weighted-average shares used in computing net income (loss) per share (in shares)	669,261	669,171	674,853	662,816
Diluted weighted-average shares used in computing net income (loss) per share (in shares)	687,101	669,171	674,853	662,816
Basic net income (loss) per share (in dollars per share)	$ 0.01	$ (0.10)	$ (0.35)	$ (0.17)
Diluted net income (loss) per share (in dollars per share)	$ 0.01	$ (0.10)	$ (0.35)	$ (0.17)
Class A
Numerator:
Net income (loss), basic	$ 5,847	$ (56,362)	$ (205,602)	$ (98,224)
Reallocation of net income as a result of conversion of Class B to Class A common stock	886	0	0	0
Reallocation of net income to Class B common stock	0	0	0	0
Diluted net income (loss)	$ 6,733	$ (56,362)	$ (205,602)	$ (98,224)
Denominator:
Basic weighted-average shares used in computing net income (loss) per share (in shares)	581,235	578,637	585,973	573,415
Conversion of Class B to Class A common stock (in shares)	88,026	0	0	0
Weighted average effect of dilutive potential common stock (in shares)	17,840	0	0	0
Diluted weighted-average shares used in computing net income (loss) per share (in shares)	687,101	578,637	585,973	573,415
Basic net income (loss) per share (in dollars per share)	$ 0.01	$ (0.10)	$ (0.35)	$ (0.17)
Diluted net income (loss) per share (in dollars per share)	$ 0.01	$ (0.10)	$ (0.35)	$ (0.17)
Class B
Numerator:
Net income (loss), basic	$ 886	$ (8,819)	$ (31,186)	$ (15,314)
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	(25)	0	0	0
Diluted net income (loss)	$ 861	$ (8,819)	$ (31,186)	$ (15,314)
Denominator:
Basic weighted-average shares used in computing net income (loss) per share (in shares)	88,026	90,534	88,880	89,401
Conversion of Class B to Class A common stock (in shares)	0	0	0	0
Weighted average effect of dilutive potential common stock (in shares)	0	0	0	0
Diluted weighted-average shares used in computing net income (loss) per share (in shares)	88,026	90,534	88,880	89,401
Basic net income (loss) per share (in dollars per share)	$ 0.01	$ (0.10)	$ (0.35)	$ (0.17)
Diluted net income (loss) per share (in dollars per share)	$ 0.01	$ (0.10)	$ (0.35)	$ (0.17)

Net Income (Loss) Per Share- We

Net Income (Loss) Per Share- Weighted-Average Anti-Dilutive Shares of Common Stock Excluded from the Calculation of Diluted Net Income (Loss) Per Share (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted-average anti-dilutive shares of common stock (in shares)	13,880	77,971	68,717	65,004
Outstanding stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted-average anti-dilutive shares of common stock (in shares)	8,553	20,004	14,750	17,063
Unvested restricted stock units and restricted stock awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted-average anti-dilutive shares of common stock (in shares)	5,327	57,967	53,967	47,941

Geographical Information (Detai

Geographical Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	$ 763,203	$ 684,550	$ 2,073,809	$ 1,925,365
Total property and equipment, net and operating lease right-of-use assets	132,298		132,298		$ 265,828
U.S. and Canada
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	592,366	562,434	1,613,840	1,555,233
Europe
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	118,469	90,110	334,666	283,758
Rest of World
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	52,368	32,006	125,303	86,374
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	560,000	$ 534,100	1,527,500	$ 1,475,300
Total property and equipment, net and operating lease right-of-use assets	70,265		70,265		205,374
Ireland
Revenues from External Customers and Long-Lived Assets [Line Items]
Total property and equipment, net and operating lease right-of-use assets	17,748		17,748		4,950
Mexico
Revenues from External Customers and Long-Lived Assets [Line Items]
Total property and equipment, net and operating lease right-of-use assets	13,762		13,762		11,627
International
Revenues from External Customers and Long-Lived Assets [Line Items]
Total property and equipment, net and operating lease right-of-use assets	$ 30,523		$ 30,523		$ 43,877

Restructuring - Narrative (Deta

Restructuring - Narrative (Details)	1 Months Ended
	Mar. 31, 2023
Plan | Employee Severance
Restructuring Cost and Reserve [Line Items]
Workforce reduction	4%

Restructuring - Summary of Rest

Restructuring - Summary of Restructuring Charges (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2023 USD ($)
Restructuring Cost and Reserve [Line Items]
Office Space Reductions	$ 117,315
Severance and Other Personnel Costs	9,567
Total	126,882
Cost of revenue
Restructuring Cost and Reserve [Line Items]
Office Space Reductions	0
Severance and Other Personnel Costs	0
Total	0
Research and development
Restructuring Cost and Reserve [Line Items]
Office Space Reductions	0
Severance and Other Personnel Costs	4,696
Total	4,696
Sales and marketing
Restructuring Cost and Reserve [Line Items]
Office Space Reductions	0
Severance and Other Personnel Costs	2,749
Total	2,749
General and administrative
Restructuring Cost and Reserve [Line Items]
Office Space Reductions	117,315
Severance and Other Personnel Costs	2,122
Total	$ 119,437

Subsequent Events (Details)

Subsequent Events (Details) - Revolving Credit Facility - Line of Credit - USD ($)	1 Months Ended
	Oct. 30, 2023	Sep. 30, 2023	Oct. 31, 2022
Subsequent Event [Line Items]
Maximum borrowing capacity			$ 400,000,000
Accordion feature maximum borrowing capacity		$ 405,000,000
Subsequent Event
Subsequent Event [Line Items]
Term of borrowing agreement	5 years
Maximum borrowing capacity	$ 500,000,000
Accordion feature maximum borrowing capacity	305,000,000
Line of credit	$ 0