Pinterest (PINS) 10-K 8 Feb 24 2023 FY Annual report Financial data

Cover Page

Cover Page - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2023	Feb. 02, 2024	Jun. 30, 2023
Document Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
Current Fiscal Year End Date	--12-31
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 Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
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
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction	false
Entity Shell Company	false
Entity Public Float			$ 13.8
Documents Incorporated by Reference	Portions of the registrant’s Definitive Proxy Statement for the 2024 Annual Meeting of Stockholders are incorporated by reference into Part III of this Annual Report on Form 10-K where indicated. Such Definitive Proxy Statement will be filed with the Securities and Exchange Commission within 120 days after the end of the registrant’s fiscal year ended December 31, 2023.
Document Fiscal Period Focus	FY
Amendment Flag	false
Document Fiscal Year Focus	2023
Entity Central Index Key	0001506293
Class A Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		595,211,750
Class B Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		83,771,609

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2023
Audit Information [Abstract]
Auditor Name	Ernst & Young LLP
Auditor Firm ID	42
Auditor Location	San Francisco, California

Consolidated balance sheets

Consolidated balance sheets - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 1,361,936	$ 1,611,063
Marketable securities	1,149,148	1,087,164
Accounts receivable, net of allowances of $10,635 and $12,672 as of December 31, 2023 and 2022, respectively	763,159	681,532
Prepaid expenses and other current assets	64,316	74,918
Total current assets	3,338,559	3,454,677
Property and equipment, net	32,225	59,575
Operating lease right-of-use assets	92,119	206,253
Goodwill and intangible assets, net	117,462	124,822
Other assets	14,040	17,403
Total assets	3,594,405	3,862,730
Current liabilities:
Accounts payable	79,058	87,920
Accrued expenses and other current liabilities	238,032	292,611
Total current liabilities	317,090	380,531
Operating lease liabilities	160,616	178,694
Other liabilities	26,019	21,851
Total liabilities	503,725	581,076
Commitments and contingencies
Stockholders’ equity:
Class A common stock, $0.00001 par value, 6,666,667 shares authorized, 591,663 and 593,918 shares issued and outstanding as of December 31, 2023 and 2022, respectively; Class B common stock, $0.00001 par value, 1,333,333 shares authorized, 86,355 and 89,284 shares issued and outstanding as of December 31, 2023 and 2022, respectively	7	7
Additional paid-in capital	5,241,954	5,407,724
Accumulated other comprehensive loss	(1,013)	(11,419)
Accumulated deficit	(2,150,268)	(2,114,658)
Total stockholders’ equity	3,090,680	3,281,654
Total liabilities and stockholders’ equity	$ 3,594,405	$ 3,862,730

Consolidated balance sheets (Pa

Consolidated balance sheets (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Allowances	$ 10,635	$ 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)	591,663	593,918
Common stock, shares outstanding (in shares)	591,663	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)	86,355	89,284
Common stock, shares outstanding (in shares)	86,355	89,284

Consolidated statements of oper

Consolidated statements of operations - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Statement [Abstract]
Revenue	$ 3,055,071	$ 2,802,574	$ 2,578,027
Costs and expenses:
Cost of revenue	688,760	678,597	529,320
Research and development	1,068,416	948,980	780,264
Sales and marketing	911,166	933,133	641,279
General and administrative	512,407	343,541	300,977
Total costs and expenses	3,180,749	2,904,251	2,251,840
Income (loss) from operations	(125,678)	(101,677)	326,187
Interest income (expense), net	105,439	30,235	3,075
Other income (expense), net	3,799	(14,502)	(8,291)
Income (loss) before provision for income taxes	(16,440)	(85,944)	320,971
Provision for income taxes	19,170	10,103	4,533
Net income (loss)	$ (35,610)	$ (96,047)	$ 316,438
Net income (loss) per share:
Basic (in dollars per share)	$ (0.05)	$ (0.14)	$ 0.49
Diluted (in dollars per share)	$ (0.05)	$ (0.14)	$ 0.46
Weighted-average shares used in computing net income (loss) per share:
Basic (in shares)	674,641	665,732	640,030
Diluted (in shares)	674,641	665,732	691,651

Consolidated statements of comp

Consolidated statements of comprehensive income (loss) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (35,610)	$ (96,047)	$ 316,438
Other comprehensive income (loss), net of taxes:
Change in unrealized gain (loss) on available-for-sale marketable securities	10,001	(8,334)	(4,252)
Change in foreign currency translation adjustment	405	(904)	(409)
Comprehensive income (loss)	$ (25,204)	$ (105,285)	$ 311,777

Consolidated statements of stoc

Consolidated statements of stockholders' equity - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit
Beginning balance (in shares) at Dec. 31, 2020		626,372
Beginning balance at Dec. 31, 2020	$ 2,242,371	$ 6	$ 4,574,934	$ 2,480	$ (2,335,049)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Release of restricted stock units and issuance of restricted stock awards, net (in shares)		21,944
Release of restricted stock units and issuance of restricted stock awards, net	1	$ 1
Issuance of common stock for cash upon exercise of stock options, net (in shares)		7,806
Issuance of common stock for cash upon exercise of stock options, net	23,912		23,912
Issuance of common stock related to charitable contributions (in shares)		750
Issuance of common stock related to charitable contributions	45,300		45,300
Share-based compensation	415,382		415,382
Other comprehensive (loss) income	(4,661)			(4,661)
Net income (loss)	316,438				316,438
Ending balance (in shares) at Dec. 31, 2021		656,872
Ending 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)		17,435
Shares repurchased for tax withholdings on release of restricted stock units and restricted stock awards	(161,809)		(161,809)
Issuance of common stock for cash upon exercise of stock options, net (in shares)		8,895
Issuance of common stock for cash upon exercise of stock options, net	12,882		12,882
Share-based compensation	497,123		497,123
Other comprehensive (loss) income	(9,238)			(9,238)
Net income (loss)	(96,047)				(96,047)
Ending balance (in shares) at Dec. 31, 2022		683,202
Ending 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)		12,776
Shares repurchased for tax withholdings on release of restricted stock units and restricted stock awards	$ (335,019)		(335,019)
Issuance of common stock for cash upon exercise of stock options, net (in shares)	2,756	2,756
Issuance of common stock for cash upon exercise of stock options, net	$ 8,499		8,499
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	(500,000)		(500,000)
Share-based compensation	647,860		647,860
Other comprehensive (loss) income	10,406			10,406
Net income (loss)	(35,610)				(35,610)
Ending balance (in shares) at Dec. 31, 2023		678,018
Ending balance at Dec. 31, 2023	$ 3,090,680	$ 7	$ 5,241,954	$ (1,013)	$ (2,150,268)

Consolidated statements of cash

Consolidated statements of cash flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Operating activities
Net income (loss)	$ (35,610)	$ (96,047)	$ 316,438
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	21,509	46,489	27,500
Share-based compensation	647,860	497,123	415,382
Non-cash charitable contributions	12,890	0	45,300
Impairment and abandonment charges for leases and leasehold improvements	117,315	0	0
Amortization (accretion) of investment premiums discount	(21,897)	(638)	5,908
Other	(2,438)	(13,251)	3,699
Changes in assets and liabilities:
Accounts receivable	(80,782)	(28,856)	(88,862)
Prepaid expenses and other assets	18,102	(30,214)	(14,727)
Operating lease right-of-use assets	55,324	56,024	43,995
Accounts payable	(9,261)	70,777	(33,451)
Accrued expenses and other liabilities	(43,544)	20,627	82,435
Operating lease liabilities	(66,507)	(52,832)	(50,710)
Net cash provided by operating activities	612,961	469,202	752,907
Investing activities
Purchases of property and equipment and intangible assets	(8,063)	(28,984)	(9,031)
Purchases of marketable securities	(1,308,020)	(1,028,480)	(1,104,087)
Sales of marketable securities	35,850	7,417	274,654
Maturities of marketable securities	1,243,240	1,007,861	849,520
Acquisition of business, net of cash acquired	0	(86,059)	(36,914)
Net cash used in investing activities	(36,993)	(128,245)	(25,858)
Financing activities
Proceeds from exercise of stock options, net	8,256	12,882	23,912
Repurchases of Class A common stock	(500,000)	0	0
Shares repurchased for tax withholdings on release of restricted stock units and restricted stock awards	(335,019)	(161,809)	0
Payment of deferred offering costs and other financing activities	0	0	(1,750)
Net cash (used in) provided by financing activities	(826,763)	(148,927)	22,162
Effect of exchange rate changes on cash, cash equivalents and restricted cash	1,667	(1,434)	(1,058)
Net increase in cash, cash equivalents and restricted cash	(249,128)	190,596	748,153
Cash, cash equivalents and restricted cash, beginning of period	1,617,660	1,427,064	678,911
Cash, cash equivalents and restricted cash, end of period	1,368,532	1,617,660	1,427,064
Supplemental cash flow information
Cash paid for income taxes, net	19,173	10,008	1,494
Non-cash investing and financing activities:
Operating lease right-of-use assets obtained in exchange for operating lease liabilities	$ 32,784	$ 31,515	$ 118,977

Consolidated statements of ca_2

Consolidated statements of cash flows (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Reconciliation of cash, cash equivalents and restricted cash to consolidated balance sheets
Cash and cash equivalents	$ 1,361,936	$ 1,611,063	$ 1,419,630
Restricted cash included in prepaid expenses and other current assets	2,542	1,067	1,137
Restricted cash included in other assets	4,054	5,530	6,297
Total cash, cash equivalents and restricted cash	$ 1,368,532	$ 1,617,660	$ 1,427,064

Description of business and sum

Description of business and summary of significant accounting policies	12 Months Ended
	Dec. 31, 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 search and discovery platform, positioned at the intersection of search, social, and commerce. We generate revenue by delivering ads on our website and mobile application. Basis of presentation and consolidation We prepared the accompanying consolidated financial statements in accordance with generally accepted accounting principles in the United States ("GAAP"). The consolidated financial statements include the accounts of Pinterest, Inc. and its wholly owned subsidiaries. We have eliminated all intercompany balances and transactions. Reclassifications We have reclassified certain amounts in prior periods to conform with current presentation. Use of estimates Preparing our consolidated financial statements in conformity with GAAP requires us to make estimates and judgments that affect amounts reported in the 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, 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. Segments We operate as a single operating segment. Our chief operating decision maker is our Chief Executive Officer ("CEO"), who reviews financial information presented on a consolidated basis, accompanied by disaggregated information about our revenue, for purposes of making operating decisions, assessing financial performance and allocating resources. Revenue recognition We generate revenue by delivering ads on our website and mobile application. We recognize revenue only after transferring control of promised goods or services to customers, which occurs when a user clicks on an ad contracted on a cost per click ("CPC") basis, views an ad contracted on a cost per thousand impressions ("CPM") or cost per day ("CPD") basis or views a video ad contracted on a cost per view ("CPV") basis. We recognize revenue over the service period for ads contracted on a CPD basis, which do not contain minimum impression guarantees. We typically bill customers on a CPC, CPM, CPV, or CPD basis, and our payment terms vary by customer type and location. The term between billing and payment due dates is not significant. We recognize revenue only after satisfying our contractual performance obligations. We occasionally offer customers free ad inventory. When contracts with our customers contain multiple performance obligations, we allocate the overall transaction price, which is the amount of consideration to which we expect to be entitled in exchange for promised goods or services, to each of the distinct performance obligations based on their relative standalone selling prices. We generally determine standalone selling prices based on the effective price charged per contracted click, impression or view, and we do not disclose the value of unsatisfied performance obligations because the original expected duration of our contracts is generally less than one year. We record sales commissions in sales and marketing as incurred because we would amortize these over a period of less than one year. Deferred revenue was $15.3 million and $13.2 million as of December 31, 2023 and 2022, respectively. Cost of revenue Cost of revenue consists primarily of expenses associated with the delivery of our service, including the cost of hosting our website and mobile application. Cost of revenue also includes personnel-related expense, including salaries, benefits and share-based compensation for employees on our operations teams, payments associated with partner arrangements, credit card and other transaction processing fees, amortization of acquired intangible assets and allocated facilities and other supporting overhead costs. Share-based compensation Restricted stock units ("RSUs") granted under our 2009 Stock Plan (the "2009 Plan") are subject to both a service condition, which is typically satisfied over four years, and a performance condition, which was deemed satisfied upon the pricing of our initial public offering ("IPO"). We did not record any share-based compensation expense for our RSUs prior to our IPO because the performance condition had not yet been satisfied. Upon pricing our IPO, we recorded cumulative share-based compensation expense using the accelerated attribution method for those RSUs granted under our 2009 Plan for which the service condition had been satisfied at that date. We record the remaining unrecognized share-based compensation expense over the remainder of the requisite service period. RSUs, restricted stock awards ("RSAs"), and stock options granted under our 2019 Omnibus Incentive Plan (the "2019 Plan") are generally subject only to a service condition, which is typically satisfied over two We measure RSUs and RSAs based on the fair market value of our common stock on the grant date and stock options based on their estimated grant date fair values, which we determine using the Black-Scholes option-pricing model. We record the resulting expense in our consolidated statements of operations over the requisite service period, which is generally four years, and we account for forfeitures as they occur. Income taxes We account for income taxes using the asset and liability method. We recognize deferred tax assets and liabilities for temporary differences between the financial reporting and tax bases of assets and liabilities using the enacted statutory tax rates in effect for the years in which we expect the differences to reverse. We establish valuation allowances to reduce deferred tax assets to the amounts we believe it is more likely than not we will be able to realize. We recognize tax benefits from uncertain tax positions when we believe it is more likely than not that the tax position is sustainable on examination by tax authorities based on its technical merits. We recognize taxes on Global Intangible Low-Taxed Income as incurred. Advertising expenses We record advertising expenses as incurred and include these in sales and marketing in the consolidated statements of operations. Advertising expenses were $145.6 million, $139.7 million and $94.7 million for the years ended December 31, 2023, 2022 and 2021, respectively. Marketable securities We invest in highly liquid corporate debt securities, U.S. treasury securities, asset-backed securities, U.S. government agency securities, municipal securities, non-U.S. government and supranational bonds and certificates of deposit. We classify marketable investments with stated maturities of ninety days or less from the date of purchase as cash equivalents and those with stated maturities greater than ninety days from the date of purchase as marketable securities. We classify our marketable securities as available-for-sale investments in our current assets because they are available for use to support current operations. We carry our marketable investments at fair value and record unrealized gains or losses, net of taxes, in accumulated other comprehensive income (loss) in stockholders’ equity. We determine realized gains and losses on the sale of marketable investments using a specific identification method and record these and any expected credit losses in other income (expense), net. Fair value measurements We account for certain assets and liabilities at fair value, which is the amount we believe market participants would be willing to receive to sell an asset or pay to transfer a liability in an orderly transaction. We categorize these assets and liabilities into the three levels below based on the degree to which the inputs we use to measure their fair values are observable in active markets. We use the most observable inputs available to us when measuring fair value. • Level 1: Observable inputs such as quoted prices for identical assets or liabilities in active markets • Level 2: Observable inputs such as quoted prices for similar assets or liabilities in active markets, quoted prices for identical assets or liabilities in inactive markets, or inputs that are derived principally from or corroborated by observable market data or other means • Level 3: Unobservable inputs that are supported by little or no market activity and are significant to the fair value of the assets or liabilities Accounts receivable, net of allowances We record accounts receivable at the original invoiced amount. We maintain an allowance for credit losses for any receivables we may be unable to collect. We estimate uncollectible receivables based on our receivables’ age, our customers’ credit quality and current economic conditions, among other factors that may affect our customers’ ability to pay. We also maintain an allowance for sales credits, which we determine based on historical credits issued to customers. We include the allowances for credit losses and sales credits in accounts receivable, net in the consolidated balance sheets. Property and equipment We carry property and equipment at cost less accumulated depreciation and calculate depreciation using the straight-line method over our assets’ estimated useful lives, which are generally: Property and Equipment Useful Life Computer and network equipment 3 years Furniture and fixtures 4 years Leasehold improvements Lesser of estimated useful life or remaining lease term Leases and operating lease incremental borrowing rate We lease office space under operating leases with expiration dates through 2035. We determine whether an arrangement constitutes a lease at inception and record lease liabilities and right-of-use assets on our consolidated balance sheets at lease commencement. We measure lease liabilities based on the present value of the total lease payments not yet paid discounted based on the more readily determinable of the rate implicit in the lease or our incremental borrowing rate, which is the estimated rate we would be required to pay for a collateralized borrowing equal to the total lease payments over the term of the lease. We estimate our incremental borrowing rate based on an analysis of publicly traded debt securities of companies with credit and financial profiles similar to our own. We measure right-of-use assets based on the corresponding lease liability adjusted for (i) payments made to the lessor at or before the commencement date, (ii) initial direct costs we incur and (iii) tenant incentives under the lease. We begin recognizing rent expense when the lessor makes the underlying asset available to us, we do not assume renewals or early terminations unless we are reasonably certain to exercise these options at commencement and we do not allocate consideration between lease and non-lease components. For short-term leases, we record rent expense in our consolidated statements of operations on a straight-line basis over the lease term and record variable lease payments as incurred. B usiness combinations We include the results of operations of businesses that we acquire in our consolidated financial statements beginning on their respective acquisition dates. We allocate the fair value of the purchase consideration to the assets acquired and liabilities assumed based on their estimated fair values. When the fair value of the purchase consideration exceeds the fair values of the identifiable assets and liabilities acquired, we record the excess as goodwill. Our estimates of fair value are based on assumptions we believe to be reasonable but which are inherently uncertain and unpredictable, and as a result, actual results may differ from estimates. During the measurement period, which is one year from the acquisition date, we may record adjustments to the assets and liabilities acquired with the corresponding offset to goodwill. Any adjustments after the measurement period are reflected in our consolidated statements of operations. Long-lived assets, including goodwill and intangible assets We record definite-lived intangible assets at fair value less accumulated amortization. We calculate amortization using the straight-line method over the assets’ estimated useful lives of up to ten years. We review our property and equipment, operating lease right-of-use assets and intangible assets for impairment whenever events or circumstances indicate that an asset’s carrying value may not be recoverable. We measure recoverability by comparing an asset’s carrying value to the future undiscounted cash flows that we expect it to generate. If this test indicates that the asset’s carrying value is not recoverable, we record an impairment charge to reduce the asset’s carrying value to its fair value. We recorded $117.3 million of impairment and abandonment charges for operating lease right-of-use assets and leasehold improvements for the year ended December 31, 2023. Refer to Note 13, "Restructuring" for further information. In the fourth quarter of 2022, we recorded $9.4 million of impairment charges for acquired intangible assets. We did not record any other material property and equipment or intangible asset impairments during the periods presented. We review goodwill for impairment at least annually or more frequently if current circumstances or events indicate that the fair value of our single reporting unit may be less than its carrying value. We did not record any goodwill impairment during the periods presented. Website development costs We capitalize costs to develop our website and mobile application when preliminary development efforts are successfully completed, management has authorized and committed project funding, and it is probable that the project will be completed and the software will be used as intended. Due to the iterative process by which we perform upgrades and the relatively short duration of our development projects, development costs meeting our capitalization criteria were not material during the periods presented. Loss contingencies We are involved in various lawsuits, claims and proceedings that arise in the ordinary course of business. We record a liability for these when we believe it is probable that we have incurred a loss and can reasonably estimate the loss. We regularly evaluate current information to determine whether we should adjust a recorded liability or record a new one. Foreign currency The functional currency of our international subsidiaries is generally their local currency. We translate these subsidiaries’ financial statements into U.S. dollars using month-end exchange rates for assets and liabilities and rates that approximate those in effect during the period for revenue and costs and expenses. We record translation gains and losses in accumulated other comprehensive loss in stockholders’ equity. We record foreign exchange gains and losses in other income (expense), net. Our net foreign exchange gains and losses were not material for the periods presented. Concentration of business risk We have an agreement with Amazon Web Services (“AWS”) to provide the cloud computing infrastructure we use to host our website, mobile application and many of the internal tools we use to operate our business. We are currently required to maintain a substantial majority of our monthly usage of certain compute, storage, data transfer and other services on AWS. Any transition of the cloud services currently provided by AWS to another cloud services provider would be difficult to implement and would cause us to incur significant time and expense. Concentration of credit risk Financial instruments that may potentially expose us to concentrations of credit risk primarily consist of cash, cash equivalents, marketable securities and restricted cash. Our investment policy is meant to preserve capital and maintain liquidity. The policy limits our marketable investments to investment-grade securities and limits our credit exposure by limiting our concentration in any one corporate issuer or sector and by establishing a minimum credit rating for marketable investments we purchase. Although we deposit cash and marketable investments with multiple financial institutions, our deposits may exceed insurable limits. No customer accounted for more than 10% of our revenue for the years ended December 31, 2023, 2022 and 2021. Our accounts receivable are generally unsecured. We monitor our customers’ credit quality on an ongoing basis and maintain reserves for estimated credit losses. Bad debt expense was not material for the years ended December 31, 2023, 2022 and 2021 . Recent Accounting Pronouncements Not Yet Adopted In November 2023, the Financial Accounting Standards Board ("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. ASU 2023-07 will be effective for our annual periods beginning January 1, 2024, and interim periods beginning January 1, 2025. The amendments must be applied retrospectively, and early adoption is permitted. We are currently evaluating the effects of adoption on our consolidated financial statements. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which requires disaggregation of rate reconciliation categories and income taxes paid by jurisdiction. ASU 2023-09 will be effective for us beginning January 1, 2025. The amendments may be applied prospectively or retrospectively, and early adoption is permitted. We are currently evaluating the effects of adoption on our consolidated financial statements.

Cash, cash equivalents and mark

Cash, cash equivalents and marketable securities	12 Months Ended
	Dec. 31, 2023
Cash and Cash Equivalents [Abstract]
Cash, cash equivalents and marketable securities	Cash, cash equivalents and marketable securities Cash, cash equivalents and marketable securities consist of the following (in thousands): December 31, 2023 Amortized Cost Unrealized Gains Unrealized Losses Fair Value Cash and cash equivalents: Cash $ 220,583 $ — $ — $ 220,583 Money market funds 1,032,675 — — 1,032,675 Commercial paper 106,312 — (44) 106,268 Corporate bonds 859 — — 859 Certificates of deposit 1,551 — — 1,551 Total cash and cash equivalents 1,361,980 — (44) 1,361,936 Marketable securities: Corporate bonds 428,002 1,277 (1,322) 427,957 Commercial paper 200,963 212 (30) 201,145 U.S. treasury securities 336,721 251 (616) 336,356 Certificates of deposit 132,314 152 (9) 132,457 Non-U.S. government and supranational bonds 9,101 1 (119) 8,983 U.S. agency bonds 42,324 3 (77) 42,250 Total marketable securities 1,149,425 1,896 (2,173) 1,149,148 Total $ 2,511,405 $ 1,896 $ (2,217) $ 2,511,084 December 31, 2022 Amortized Cost Unrealized Gains Unrealized Losses Fair Value Cash and cash equivalents: Cash $ 474,365 $ — $ — $ 474,365 Money market funds 1,017,191 — — 1,017,191 Commercial paper 111,996 — (21) 111,975 Corporate bonds 1,542 — — 1,542 U.S. treasury securities 5,988 2 — 5,990 Total cash and cash equivalents 1,611,082 2 (21) 1,611,063 Marketable securities: Corporate bonds 370,445 172 (7,542) 363,075 Commercial paper 241,407 71 (286) 241,192 U.S. treasury securities 244,056 33 (1,173) 242,916 Certificates of deposit 158,607 60 (421) 158,246 Municipal securities 28,029 4 (584) 27,449 Non-U.S. government and supranational bonds 23,228 — (629) 22,599 U.S. agency bonds 31,695 40 (48) 31,687 Total marketable securities 1,097,467 380 (10,683) 1,087,164 Total $ 2,708,549 $ 382 $ (10,704) $ 2,698,227 Our allowance for credit losses for our marketable securities was not material as of December 31, 2023 and 2022. The fair value of our marketable securities by contractual maturity is as follows (in thousands): December 31, 2023 Due in one year or less $ 835,925 Due after one to five years 313,223 Total $ 1,149,148 Net realized gains and losses from sales of available-for-sale securities were not material for any period presented.

Fair value of financial instrum

Fair value of financial instruments	12 Months Ended
	Dec. 31, 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): December 31, 2023 Level 1 Level 2 Level 3 Total Cash equivalents: Money market funds $ 1,032,675 $ — $ — $ 1,032,675 Commercial paper — 106,268 — 106,268 Certificates of deposit — 1,551 — 1,551 Corporate bonds — 859 — 859 Marketable securities: Corporate bonds — 427,957 — 427,957 Commercial paper — 201,145 — 201,145 U.S. treasury securities 336,356 — — 336,356 Certificates of deposit — 132,457 — 132,457 Non-U.S. government and supranational bonds — 8,983 — 8,983 U.S. agency bonds — 42,250 — 42,250 Prepaid expenses and other current assets: Certificates of deposit — 2,542 — 2,542 Restricted cash: 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 U.S. treasury securities 5,990 — — 5,990 Corporate bonds — 1,542 — 1,542 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 Restricted cash: Certificates of deposit $ — $ 5,530 $ — $ 5,530

Other balance sheet components

Other balance sheet components	12 Months Ended
	Dec. 31, 2023
Other Balance Sheet Components [Abstract]
Other balance sheet components	Other balance sheet components Property and equipment, net Property and equipment, net consists of the following (in thousands): December 31, 2023 2022 Leasehold improvements $ 64,326 $ 104,557 Furniture and fixtures 21,077 30,882 Computer and network equipment 26,603 32,845 Total property and equipment 112,006 168,284 Less: accumulated depreciation (90,116) (116,291) Construction in progress 10,335 7,582 Property and equipment, net $ 32,225 $ 59,575 Depreciation expense was $14.1 million, $21.6 million and $26.2 million for the years ended December 31, 2023, 2022 and 2021, respectively. Accrued expenses and other current liabilities Accrued expenses and other current liabilities consists of the following (in thousands): December 31, 2023 2022 Accrued hosting expenses $ 53,262 $ 53,380 Accrued compensation 48,924 48,146 Operating lease liabilities 35,666 50,274 Other accrued expenses 100,180 140,811 Accrued expenses and other current liabilities $ 238,032 $ 292,611

Acquisition

Acquisition	12 Months Ended
	Dec. 31, 2023
Business Combination and Asset Acquisition [Abstract]
Acquisition	Acquisition On June 10, 2022, we acquired all outstanding shares of The Yes Platform, Inc. (“The Yes”), an AI powered shopping platform for fashion. We believed the acquisition of The Yes would help accelerate our vision for Pinterest to be the home of taste-driven shopping. The total purchase consideration was $87.6 million in cash. Of this, we attributed $15.0 million to customer relationships, $13.6 million to developed technology, and $60.0 million to goodwill. Goodwill represents the synergies we expect to realize from the acquisition and the assembled workforce and is not deductible for tax purposes. We included the results of The Yes’s operations in our consolidated financial statements beginning on the acquisition date. The acquisition did not have a material impact on our consolidated financial statements so we have not presented historical and pro forma disclosures. In the fourth quarter of 2022, we recorded impairment charges of $9.4 million related to the customer relationships and developed technology. Refer to Note 6 for detail.

Goodwill and intangible assets,

Goodwill and intangible assets, net	12 Months Ended
	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and intangible assets, net	Goodwill and intangible assets, net Goodwill was unchanged for the year ended December 31, 2023 and increased by $60.0 million for the year ended December 31, 2022, due to our acquisition of The Yes. Intangible assets, net consists of the following (in thousands): December 31, 2023 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Weighted-Average Useful Life (1) Acquired technology, patents and other intangibles $ 39,907 $ (24,246) $ 15,661 4.9 years Customer relationships 17,700 (16,126) 1,574 1.6 years Total intangible assets, net $ 57,607 $ (40,372) $ 17,235 December 31, 2022 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Weighted-Average Useful Life (1) Acquired technology, patents and other intangibles $ 39,907 $ (17,427) $ 22,480 4.9 years Customer relationships 17,700 (15,585) 2,115 1.6 years Total intangible assets, net $ 57,607 $ (33,012) $ 24,595 (1) Based on the weighted-average useful life established as of acquisition date. Amortization expense was $7.4 million , $24.9 million, and $1.3 million for the years ended December 31, 2023, 2022 and 2021, respectively. During the fourth quarter of 2022, we evaluated the acquired intangible assets from The Yes for impairment due to the departure of certain key employees. We concluded that the fair values of the customer relationships and developed technology were impaired and recorded impairment charges of $6.3 million and $3.1 million to sales and marketing and cost of revenue, respectively. Estimated future amortization expense as of December 31, 2023, is as follows (in thousands): Intangible Asset Amortization 2024 $ 7,359 2025 5,464 2026 3,424 2027 476 2028 434 Thereafter 78 Total $ 17,235

Commitments and contingencies

Commitments and contingencies	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and contingencies	Commitments and contingencies As of December 31, 2023, our non-cancelable contractual commitments are as follows (in thousands): Purchase Commitments Operating Leases Total Commitments 2024 $ — $ 42,906 $ 42,906 2025 — 33,197 33,197 2026 — 31,542 31,542 2027 — 27,919 27,919 2028 — 22,172 22,172 Thereafter 1,754,553 83,233 1,837,786 Total $ 1,754,553 $ 240,969 $ 1,995,522 Purchase commitments In April 2021, we entered into a new private pricing addendum with AWS, which governs our use of cloud computing infrastructure provided by AWS. Under the new 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 December 31, 2023, our remaining contractual commitment i s $1,754.6 million. W e 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, including those described below. 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. Revolving credit facility In October 2022, we replaced the $500.0 million revolving credit facility entered into in November 2018 with an amended and restated five-year $400.0 million revolving credit facility (the “2022 revolving credit facility”) that contained an accordion option which, if exercised, would allow us to increase the aggregate commitments by up to $405.0 million provided we are able to secure additional lender commitments and satisfy certain other conditions. In October 2023, we amended the 2022 revolving credit facility to increase our aggregate commitment to $500.0 million and reduce our accordion option from $405.0 million to $305.0 million. Interest on any borrowings under the 2022 revolving credit facility accrues at either an adjusted term SOFR plus 0.10% and a margin of 1.50% or at an alternative base rate plus a margin of 0.50%, at our election, and we are required to pay an annual commitment fee that accrues at 0.15% per annum on the unused portion of the aggregate commitments under the 2022 revolving credit facility. The 2022 revolving credit facility also allows us to issue letters of credit, which reduce the amount we can borrow. We are required to pay a fee that accrues at 0.125% per annum on the average aggregate daily maximum amount available to be drawn under any outstanding letters of credit. The 2022 revolving credit facility contains customary conditions to borrowing, events of default and covenants, including covenants that restrict our ability to incur indebtedness, grant liens, make distributions to holders of our stock or the stock of our subsidiaries, make investments or engage in transactions with our affiliates. The 2022 revolving credit facility also contains a financial maintenance covenant: a maximum net leverage ratio of consolidated debt to consolidated EBITDA no greater than 3.50 to 1.00, subject to an increase up to 4.00 to 1.00 for a certain period following an acquisition. The obligations under the 2022 revolving credit facility are secured by liens on substantially all of our domestic assets, including certain domestic intellectual property assets. Our total borrowing capacity under the revolving credit facility is $500.0 million as of December 31, 2023. We have not issued any letters of credit and are in compliance with all covenants under the 2022 revolving credit facility as of December 31, 2023.

Leases

Leases	12 Months Ended
	Dec. 31, 2023
Leases [Abstract]
Leases	Leases We have entered into various non-cancelable office space operating leases with original lease periods expiring between 2024 and 2035. These do not contain material variable rent payments, residual value guarantees, covenants or other restrictions. Operating lease costs for the years ended December 31, 2023, 2022 and 2021, are as follows (in thousands): Year Ended December 31, 2023 2022 2021 Lease cost: Operating lease cost (1) $ 51,044 $ 66,022 $ 53,691 Short-term lease cost 759 2,809 1,434 Total $ 51,803 $ 68,831 $ 55,125 (1) The decrease in operating lease cost for the year ended December 31, 2023 compared to the year ended December 31, 2022 is primarily due to office space reductions. Refer to Note 13, "Restructuring" for further information. The weighted-average remaining term of our operating leases was 7.2 years and 6.8 years, and the weighted-average discount rate used to measure the present value of our operating lease liabilities was 5.1% and 4.1% as of December 31, 2023 and 2022, respectively. Maturities of our operating lease liabilities, which do not include short-term leases, as of December 31, 2023, are as follows (in thousands): Operating Leases 2024 $ 42,906 2025 33,197 2026 31,542 2027 27,919 2028 22,172 Thereafter 83,233 Total lease payments 240,969 Less imputed interest (44,687) Total operating lease liabilities $ 196,282 Cash payments included in the measurement of our operating lease liabilities were $61.8 million, $64.0 million and $59.0 million for the years ended December 31, 2023, 2022 and 2021, respectively. As of December 31, 2023, operating leases that have not yet commenced were not material and are excluded from the table above.

Stockholder's Equity

Stockholder's Equity	12 Months Ended
	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Stockholder's Equity	Stockholder's Equity Equity incentive plan In June 2009, our board of directors adopted and approved our 2009 Plan, which provides for the issuance of stock options, RSAs and 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 December 31, 2023. Our 2019 Plan became effective upon closing of our IPO 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. 145,335,295 shares of our Class A common stock were reserved for future issuance under our 2019 Plan as of December 31, 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 year ended December 31, 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 (2,756) 3.08 Outstanding as of December 31, 2023 13,043 $ 15.41 6.1 $ 282,197 Exercisable as of December 31, 2023 7,164 $ 11.67 4.2 $ 181,762 (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 years ended December 31, 2023, 2022 and 2021 was $28.4 million, $9.5 million and $3.2 million, respectively. The aggregate intrinsic value of stock options exercised during the years ended December 31, 2023, 2022 and 2021 was $70.2 million, $180.2 million and $511.4 million, respectively. Restricted stock unit and restricted stock award activity RSU and RSA activity during the year ended December 31, 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) 26,878 25.35 Released (27,552) 25.11 Forfeited (1) (8,745) 24.35 Outstanding as of December 31, 2023 45,099 $ 25.83 (1) Includes the effects of awards modified during the year ended December 31, 2023. Share-based compensation Share-based compensation expense during the years ended December 31, 2023, 2022 and 2021, was as follows (in thousands): Year Ended December 31, 2023 2022 2021 Cost of revenue $ 11,117 $ 7,629 $ 7,438 Research and development 422,964 324,161 309,715 Sales and marketing 96,798 99,467 52,691 General and administrative 116,981 65,866 45,538 Total share-based compensation $ 647,860 $ 497,123 $ 415,382 As of December 31, 2023, we had $1,128.1 million of unrecognized share-based compensation expense, which we expect to recognize over a weighted-average period of 2.2 years. Fair value of stock options We measure stock options based on their estimated grant date fair values, which we determine using the Black-Scholes option-pricing model, and we record the resulting expense in our consolidated statements of operations over the requisite service period, which is generally four years. Stock options granted during the years ended December 31, 2023 and 2021 were not material. The weighted-average grant-date fair value of stock options granted during the year ended December 31, 2022 was $11.79, which we estimated using the Black ‑ Scholes option-pricing model with the following assumptions: Year Ended December 31, 2022 Expected term (in years) 6.1 Risk-free interest rate 3.2 % Expected volatility 61.1 % Dividend yield — % The key inputs we used in the Black-Scholes model are: • Expected term – The expected term represents the period we expect our share-based awards to be outstanding, which is also the period we used to measure risk-free interest rates and expected volatility. We estimated the expected term using the simplified method as we do not have sufficient historical stock option exercise data. • Risk-free interest rate – We estimated the risk-free interest rate based on zero-coupon U.S. Treasury notes. • Expected volatility – We estimated expected volatility based on a combination of our historical volatility and that of comparable publicly-traded companies. • Dividend yield – We applied a dividend yield of zero because we have never paid or declared dividends, and we have no plan to do so in the foreseeable future. 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 $500.0 million at an average price per share of $23.57. 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 December 31, 2023, $1.0 billion remains available for repurchases under the stock repurchase program.

Net income (loss) per share

Net income (loss) per share	12 Months Ended
	Dec. 31, 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 net 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): Year Ended December 31, 2023 2022 2021 Class A Class B Class A Class B Class A Class B Basic net income (loss) per share: Numerator: Net income (loss) $ (30,937) $ (4,673) $ (83,110) $ (12,937) $ 274,699 $ 41,739 Denominator: Basic weighted-average shares used in computing net income (loss) per share 586,109 88,532 576,061 89,671 555,608 84,422 Basic net income (loss) per share $ (0.05) $ (0.05) $ (0.14) $ (0.14) $ 0.49 $ 0.49 Diluted net income (loss) per share: Numerator: Net income (loss) $ (30,937) $ (4,673) $ (83,110) $ (12,937) $ 274,699 $ 41,739 Reallocation of net income as a result of conversion of Class B to Class A common stock — — — — 41,739 — Reallocation of net income to Class B common stock — — — — — (3,115) Diluted net income (loss) $ (30,937) $ (4,673) $ (83,110) $ (12,937) $ 316,438 $ 38,624 Denominator: Basic weighted-average shares used in computing net income (loss) per share 586,109 88,532 576,061 89,671 555,608 84,422 Conversion of Class B to Class A common stock — — — — 84,422 — Weighted average effect of dilutive potential common stock — — — — 51,621 — Diluted weighted-average shares used in computing net income (loss) per share 586,109 88,532 576,061 89,671 691,651 84,422 Diluted net income (loss) per share $ (0.05) $ (0.05) $ (0.14) $ (0.14) $ 0.46 $ 0.46 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): Year Ended December 31, 2023 2022 2021 Outstanding stock options 14,463 17,405 — Unvested restricted stock units and restricted stock awards 53,228 52,256 3,271 Total 67,691 69,661 3,271

Income taxes

Income taxes	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Income taxes	Income taxes The components of income (loss) before provision for income taxes are as follows (in thousands): Year Ended December 31, 2023 2022 2021 United States $ 20,713 $ 29,108 $ 331,447 Foreign (37,153) (115,052) (10,476) Income (loss) before provision for income taxes $ (16,440) $ (85,944) $ 320,971 Provision for income taxes consists of the following (in thousands): Year Ended December 31, 2023 2022 2021 Current: Federal $ 7,833 $ 1,681 $ — State 6,698 7,385 2,303 Foreign 6,477 4,381 2,957 Total current tax expense 21,008 13,447 5,260 Deferred: Federal 6 (1,861) 6 State 3 (356) 6 Foreign (1,847) (1,127) (739) Total deferred tax expense (benefit) (1,838) (3,344) (727) Provision for income taxes $ 19,170 $ 10,103 $ 4,533 The difference between income taxes computed at the statutory federal income tax rate and the provision for income taxes is attributable to the following (in thousands): Year Ended December 31, 2023 2022 2021 Tax at U.S. statutory rate $ (3,453) $ (18,048) $ 67,404 State income taxes, net of benefit 5,111 5,502 2,307 Foreign operations 12,018 26,985 4,448 Permanent book/tax differences 6,809 6,598 409 Share-based compensation (18,925) (20,663) (269,009) Change in valuation allowance 111,497 62,048 278,761 Tax credits (93,887) (52,319) (79,787) Provision for income taxes $ 19,170 $ 10,103 $ 4,533 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 and for the years ended December 31, 2023 and December 31, 2022 includes the effects of the capitalization and amortization of research and development expenses as required by the 2017 Tax Cuts and Jobs Act. Significant components of our deferred tax assets and liabilities are as follows (in thousands): December 31, 2023 2022 Deferred tax assets: Net operating loss carryforwards $ 751,273 $ 900,200 Research tax credits 570,061 473,248 Reserves, accruals, and other 26,855 31,502 Lease obligation 44,676 56,185 Share-based compensation 30,146 40,976 Research capitalization and amortization 411,113 208,373 Total deferred tax assets 1,834,124 1,710,484 Less: valuation allowance (1,821,027) (1,660,609) Deferred tax assets, net of valuation allowance 13,097 49,875 Deferred tax liabilities: Depreciation and amortization (7,467) (44,790) Prepaid expenses (2,682) (4,190) Total deferred tax liabilities (10,149) (48,980) Deferred tax assets (liabilities) $ 2,948 $ 895 Due to our history of losses, we believe it is more likely than not that our U.S. and Irish deferred tax assets will not be realized as of December 31, 2023. Accordingly, we have established a full valuation allowance on our U.S. and Irish deferred tax assets. Our valuation allowance increased by $160.4 million and $120.7 million during the years ended December 31, 2023 and 2022, respectively , primarily due to U.S. federal and state tax credits and the effects of the capitalization and amortization of research and development expenses as required by the 2017 Tax Cuts and Job Act, offset by the utilization of net operating loss. As of December 31, 2023, we had federal, California and other state net operating loss carryforwards of $2,914.6 million, $555.0 million and $1,387.5 million, respectively. Our federal carryforwards do not expire. If not utilized, our California and other state carryforwards will begin to expire in 2028 and 2026, respectively. Utilization of our net operating loss carryforwards may be subject to annual limitations due to the ownership change limitations provided by Section 382 of the Internal Revenue Code and similar state provisions. Our net operating loss carryforwards could expire before utilization if subject to annual limitations. As of December 31, 2023, we had $208.5 million and $10.2 million of Irish and Other Foreign net operating loss carryforwards, respectively that can be carried forward indefinitely. As of December 31, 2023, we had federal and California research and development credit carryforwards of $491.4 million and $365.7 million, respectively. If not utilized, our federal carryforwards will begin to expire in 2037. Our California carryforwards do not expire. Changes in gross unrecognized tax benefits were as follows (in thousands): Gross Unrecognized Tax Benefits Balance as of December 31, 2021 $ 205,059 Increases for tax positions of prior years — Decreases for tax positions of prior years (3,347) Increases for tax positions of current year 38,226 Balance as of December 31, 2022 $ 239,938 Increases for tax positions of prior years 3,736 Decreases for tax positions of prior years (119) Increases for tax positions of current year 44,377 Audit Settlement (37,027) Balance as of December 31, 2023 $ 250,905 Recognizing the $250.9 million of gross unrecognized tax benefits we had as of December 31, 2023 would affect our effective tax rate by $5.3 million. The remaining $245.6 million of gross unrecognized tax benefits would be offset by the reversal of related deferred tax assets, which primarily are subject to a full valuation allowance. We do not expect our gross unrecognized tax benefits to change significantly within the next 12 months. We recognize interest and penalties related to uncertain tax positions in provision for income taxes. Accrued interest and penalties are not material as of December 31, 2023 and 2022. 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 ope

Geographical information

Geographical information	12 Months Ended
	Dec. 31, 2023
Segment Reporting [Abstract]
Geographical information	Geographical information Revenue disaggregated by geography based on our customers’ billing addresses is as follows (in thousands): Year Ended December 31, 2023 2022 2021 U.S. and Canada (1) $ 2,350,188 $ 2,264,640 $ 2,109,089 Europe (2) 501,290 410,516 384,657 Rest of World 203,593 127,418 84,281 Total revenue $ 3,055,071 $ 2,802,574 $ 2,578,027 (1) United States revenue w as $2,226.3 million, $2,144.3 million and $2,003.6 million for the years ended December 31, 2023, 2022 and 2021, 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): December 31, 2023 2022 United States $ 66,335 $ 205,374 Ireland 18,658 4,950 Mexico 12,835 11,627 International (1) 26,516 43,877 Total property and equipment, net and operating lease right-of-use assets $ 124,344 $ 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	12 Months Ended
	Dec. 31, 2023
Restructuring and Related Activities [Abstract]
Restructuring	Restructuring In 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 our former headquarters at 505 Brannan Street in San Francisco, which we are actively marketing for sublease, 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 in the third quarter of 2023. Restructuring charges for the year ended December 31, 2023 were as follows (in thousands): 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.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pay vs Performance Disclosure
Net income (loss)	$ (35,610)	$ (96,047)	$ 316,438

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	12 Months Ended
	Dec. 31, 2023 shares	Dec. 31, 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
Julia Brau Donnelly [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On December 11, 2023, Julia Brau Donnelly , Chief Financial Officer , adopted a trading plan intended to satisfy Rule 10b5-1(c) under the Exchange Act (“Rule 10b5-1(c)”) to sell, between March 11, 2024 and November 15, 2024 (a) up to 65,972 shares of our Class A common stock, and (b) the net shares of our Class A common stock to be issued to Ms. Donnelly after the satisfaction of applicable taxes following the vesting and settlement of 196,414 RSUs.
Name	Julia Brau Donnelly
Title	Chief Financial Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	On December 11, 2023
Arrangement Duration	249 days
Julia Brau Donnelly Trading Arrangement, Class A Common Stock [Member] | Julia Brau Donnelly [Member]
Trading Arrangements, by Individual
Aggregate Available	65,972	65,972
Julia Brau Donnelly Trading Arrangement, RSUs [Member] | Julia Brau Donnelly [Member]
Trading Arrangements, by Individual
Aggregate Available	196,414	196,414

Description of business and s_2

Description of business and summary of significant accounting policies (Policies)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Basis of presentation	Basis of presentation and consolidation
Consolidation	Basis of presentation and consolidation
Reclassifications	Reclassifications We have reclassified certain amounts in prior periods to conform with current presentation.
Use of estimates	Use of estimates Preparing our consolidated financial statements in conformity with GAAP requires us to make estimates and judgments that affect amounts reported in the 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, 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.
Segments	Segments
Revenue recognition and Cost of revenue	Revenue recognition We generate revenue by delivering ads on our website and mobile application. We recognize revenue only after transferring control of promised goods or services to customers, which occurs when a user clicks on an ad contracted on a cost per click ("CPC") basis, views an ad contracted on a cost per thousand impressions ("CPM") or cost per day ("CPD") basis or views a video ad contracted on a cost per view ("CPV") basis. We recognize revenue over the service period for ads contracted on a CPD basis, which do not contain minimum impression guarantees. We typically bill customers on a CPC, CPM, CPV, or CPD basis, and our payment terms vary by customer type and location. The term between billing and payment due dates is not significant. We recognize revenue only after satisfying our contractual performance obligations. We occasionally offer customers free ad inventory. When contracts with our customers contain multiple performance obligations, we allocate the overall transaction price, which is the amount of consideration to which we expect to be entitled in exchange for promised goods or services, to each of the distinct performance obligations based on their relative standalone selling prices. We generally determine standalone selling prices based on the effective price charged per contracted click, impression or view, and we do not disclose the value of unsatisfied performance obligations because the original expected duration of our contracts is generally less than one year. We record sales commissions in sales and marketing as incurred because we would amortize these over a period of less than one year. Cost of revenue Cost of revenue consists primarily of expenses associated with the delivery of our service, including the cost of hosting our website and mobile application. Cost of revenue also includes personnel-related expense, including salaries, benefits and share-based compensation for employees on our operations teams, payments associated with partner arrangements, credit card and other transaction processing fees, amortization of acquired intangible assets and allocated facilities and other supporting overhead costs.
Share-based compensation	Share-based compensation Restricted stock units ("RSUs") granted under our 2009 Stock Plan (the "2009 Plan") are subject to both a service condition, which is typically satisfied over four years, and a performance condition, which was deemed satisfied upon the pricing of our initial public offering ("IPO"). We did not record any share-based compensation expense for our RSUs prior to our IPO because the performance condition had not yet been satisfied. Upon pricing our IPO, we recorded cumulative share-based compensation expense using the accelerated attribution method for those RSUs granted under our 2009 Plan for which the service condition had been satisfied at that date. We record the remaining unrecognized share-based compensation expense over the remainder of the requisite service period. RSUs, restricted stock awards ("RSAs"), and stock options granted under our 2019 Omnibus Incentive Plan (the "2019 Plan") are generally subject only to a service condition, which is typically satisfied over two We measure RSUs and RSAs based on the fair market value of our common stock on the grant date and stock options based on their estimated grant date fair values, which we determine using the Black-Scholes option-pricing model. We record the resulting expense in our consolidated statements of operations over the requisite service period, which is generally four years, and we account for forfeitures as they occur.
Income taxes	Income taxes We account for income taxes using the asset and liability method. We recognize deferred tax assets and liabilities for temporary differences between the financial reporting and tax bases of assets and liabilities using the enacted statutory tax rates in effect for the years in which we expect the differences to reverse. We establish valuation allowances to reduce deferred tax assets to the amounts we believe it is more likely than not we will be able to realize. We recognize tax benefits from uncertain tax positions when we believe it is more likely than not that the tax position is sustainable on examination by tax authorities based on its technical merits. We recognize taxes on Global Intangible Low-Taxed Income as incurred.
Advertising expenses	Advertising expenses
Marketable securities	Marketable securities We invest in highly liquid corporate debt securities, U.S. treasury securities, asset-backed securities, U.S. government agency securities, municipal securities, non-U.S. government and supranational bonds and certificates of deposit. We classify marketable investments with stated maturities of ninety days or less from the date of purchase as cash equivalents and those with stated maturities greater than ninety days from the date of purchase as marketable securities. We classify our marketable securities as available-for-sale investments in our current assets because they are available for use to support current operations. We carry our marketable investments at fair value and record unrealized gains or losses, net of taxes, in accumulated other comprehensive income (loss) in stockholders’ equity. We determine realized gains and losses on the sale of marketable investments using a specific identification method and record these and any expected credit losses in other income (expense), net.
Fair value measurements	Fair value measurements We account for certain assets and liabilities at fair value, which is the amount we believe market participants would be willing to receive to sell an asset or pay to transfer a liability in an orderly transaction. We categorize these assets and liabilities into the three levels below based on the degree to which the inputs we use to measure their fair values are observable in active markets. We use the most observable inputs available to us when measuring fair value. • Level 1: Observable inputs such as quoted prices for identical assets or liabilities in active markets • Level 2: Observable inputs such as quoted prices for similar assets or liabilities in active markets, quoted prices for identical assets or liabilities in inactive markets, or inputs that are derived principally from or corroborated by observable market data or other means • Level 3: Unobservable inputs that are supported by little or no market activity and are significant to the fair value of the assets or liabilities
Accounts receivable, net of allowances	Accounts receivable, net of allowances We record accounts receivable at the original invoiced amount. We maintain an allowance for credit losses for any receivables we may be unable to collect. We estimate uncollectible receivables based on our receivables’ age, our customers’ credit quality and current economic conditions, among other factors that may affect our customers’ ability to pay. We also maintain an allowance for sales credits, which we determine based on historical credits issued to customers. We include the allowances for credit losses and sales credits in accounts receivable, net in the consolidated balance sheets.
Property and equipment	We carry property and equipment at cost less accumulated depreciation and calculate depreciation using the straight-line method over our assets’ estimated useful lives, which are generally: Property and Equipment Useful Life Computer and network equipment 3 years Furniture and fixtures 4 years Leasehold improvements Lesser of estimated useful life or remaining lease term
Leases and operating lease incremental borrowing rate	Leases and operating lease incremental borrowing rate We lease office space under operating leases with expiration dates through 2035. We determine whether an arrangement constitutes a lease at inception and record lease liabilities and right-of-use assets on our consolidated balance sheets at lease commencement. We measure lease liabilities based on the present value of the total lease payments not yet paid discounted based on the more readily determinable of the rate implicit in the lease or our incremental borrowing rate, which is the estimated rate we would be required to pay for a collateralized borrowing equal to the total lease payments over the term of the lease. We estimate our incremental borrowing rate based on an analysis of publicly traded debt securities of companies with credit and financial profiles similar to our own. We measure right-of-use assets based on the corresponding lease liability adjusted for (i) payments made to the lessor at or before the commencement date, (ii) initial direct costs we incur and (iii) tenant incentives under the lease. We begin recognizing rent expense when the lessor makes the underlying asset available to us, we do not assume renewals or early terminations unless we are reasonably certain to exercise these options at commencement and we do not allocate consideration between lease and non-lease components. For short-term leases, we record rent expense in our consolidated statements of operations on a straight-line basis over the lease term and record variable lease payments as incurred.
Business combinations	B usiness combinations We include the results of operations of businesses that we acquire in our consolidated financial statements beginning on their respective acquisition dates. We allocate the fair value of the purchase consideration to the assets acquired and liabilities assumed based on their estimated fair values. When the fair value of the purchase consideration exceeds the fair values of the identifiable assets and liabilities acquired, we record the excess as goodwill. Our estimates of fair value are based on assumptions we believe to be reasonable but which are inherently uncertain and unpredictable, and as a result, actual results may differ from estimates. During the measurement period, which is one year from the acquisition date, we may record adjustments to the assets and liabilities acquired with the corresponding offset to goodwill. Any adjustments after the measurement period are reflected in our consolidated statements of operations.
Long-lived assets, including goodwill and intangible assets	Long-lived assets, including goodwill and intangible assets We record definite-lived intangible assets at fair value less accumulated amortization. We calculate amortization using the straight-line method over the assets’ estimated useful lives of up to ten years. We review our property and equipment, operating lease right-of-use assets and intangible assets for impairment whenever events or circumstances indicate that an asset’s carrying value may not be recoverable. We measure recoverability by comparing an asset’s carrying value to the future undiscounted cash flows that we expect it to generate. If this test indicates that the asset’s carrying value is not recoverable, we record an impairment charge to reduce the asset’s carrying value to its fair value. We recorded $117.3 million of impairment and abandonment charges for operating lease right-of-use assets and leasehold improvements for the year ended December 31, 2023. Refer to Note 13, "Restructuring" for further information. In the fourth quarter of 2022, we recorded $9.4 million of impairment charges for acquired intangible assets. We did not record any other material property and equipment or intangible asset impairments during the periods presented. We review goodwill for impairment at least annually or more frequently if current circumstances or events indicate that the fair value of our single reporting unit may be less than its carrying value. We did not record any goodwill impairment during the periods presented.
Website development costs	Website development costs We capitalize costs to develop our website and mobile application when preliminary development efforts are successfully completed, management has authorized and committed project funding, and it is probable that the project will be completed and the software will be used as intended. Due to the iterative process by which we perform upgrades and the relatively short duration of our development projects, development costs meeting our capitalization criteria were not material during the periods presented.
Loss contingencies	Loss contingencies We are involved in various lawsuits, claims and proceedings that arise in the ordinary course of business. We record a liability for these when we believe it is probable that we have incurred a loss and can reasonably estimate the loss. We regularly evaluate current information to determine whether we should adjust a recorded liability or record a new one.
Foreign currency	Foreign currency The functional currency of our international subsidiaries is generally their local currency. We translate these subsidiaries’ financial statements into U.S. dollars using month-end exchange rates for assets and liabilities and rates that approximate those in effect during the period for revenue and costs and expenses. We record translation gains and losses in accumulated other comprehensive loss in stockholders’ equity. We record foreign exchange gains and losses in other income (expense), net. Our net foreign exchange gains and losses were not material for the periods presented.
Concentration of business risk	Concentration of business risk We have an agreement with Amazon Web Services (“AWS”) to provide the cloud computing infrastructure we use to host our website, mobile application and many of the internal tools we use to operate our business. We are currently required to maintain a substantial majority of our monthly usage of certain compute, storage, data transfer and other services on AWS. Any transition of the cloud services currently provided by AWS to another cloud services provider would be difficult to implement and would cause us to incur significant time and expense.
Concentration of credit risk	Concentration of credit risk Financial instruments that may potentially expose us to concentrations of credit risk primarily consist of cash, cash equivalents, marketable securities and restricted cash. Our investment policy is meant to preserve capital and maintain liquidity. The policy limits our marketable investments to investment-grade securities and limits our credit exposure by limiting our concentration in any one corporate issuer or sector and by establishing a minimum credit rating for marketable investments we purchase. Although we deposit cash and marketable investments with multiple financial institutions, our deposits may exceed insurable limits.
Credit losses on accounts receivable	Our accounts receivable are generally unsecured. We monitor our customers’ credit quality on an ongoing basis and maintain reserves for estimated credit losses.
Recent Accounting Pronouncements Not Yet Adopted	Recent Accounting Pronouncements Not Yet Adopted In November 2023, the Financial Accounting Standards Board ("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. ASU 2023-07 will be effective for our annual periods beginning January 1, 2024, and interim periods beginning January 1, 2025. The amendments must be applied retrospectively, and early adoption is permitted. We are currently evaluating the effects of adoption on our consolidated financial statements. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which requires disaggregation of rate reconciliation categories and income taxes paid by jurisdiction. ASU 2023-09 will be effective for us beginning January 1, 2025. The amendments may be applied prospectively or retrospectively, and early adoption is permitted. We are currently evaluating the effects of adoption on our consolidated financial statements.

Description of business and s_3

Description of business and summary of significant accounting policies (Tables)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Summary of Estimated Useful Lives of Property and Equipment	We carry property and equipment at cost less accumulated depreciation and calculate depreciation using the straight-line method over our assets’ estimated useful lives, which are generally: Property and Equipment Useful Life Computer and network equipment 3 years Furniture and fixtures 4 years Leasehold improvements Lesser of estimated useful life or remaining lease term Property and equipment, net consists of the following (in thousands): December 31, 2023 2022 Leasehold improvements $ 64,326 $ 104,557 Furniture and fixtures 21,077 30,882 Computer and network equipment 26,603 32,845 Total property and equipment 112,006 168,284 Less: accumulated depreciation (90,116) (116,291) Construction in progress 10,335 7,582 Property and equipment, net $ 32,225 $ 59,575

Cash, cash equivalents and ma_2

Cash, cash equivalents and marketable securities (Tables)	12 Months Ended
	Dec. 31, 2023
Cash and Cash Equivalents [Abstract]
Summary of Composition of Cash, Cash Equivalents and Marketable Securities	Cash, cash equivalents and marketable securities consist of the following (in thousands): December 31, 2023 Amortized Cost Unrealized Gains Unrealized Losses Fair Value Cash and cash equivalents: Cash $ 220,583 $ — $ — $ 220,583 Money market funds 1,032,675 — — 1,032,675 Commercial paper 106,312 — (44) 106,268 Corporate bonds 859 — — 859 Certificates of deposit 1,551 — — 1,551 Total cash and cash equivalents 1,361,980 — (44) 1,361,936 Marketable securities: Corporate bonds 428,002 1,277 (1,322) 427,957 Commercial paper 200,963 212 (30) 201,145 U.S. treasury securities 336,721 251 (616) 336,356 Certificates of deposit 132,314 152 (9) 132,457 Non-U.S. government and supranational bonds 9,101 1 (119) 8,983 U.S. agency bonds 42,324 3 (77) 42,250 Total marketable securities 1,149,425 1,896 (2,173) 1,149,148 Total $ 2,511,405 $ 1,896 $ (2,217) $ 2,511,084 December 31, 2022 Amortized Cost Unrealized Gains Unrealized Losses Fair Value Cash and cash equivalents: Cash $ 474,365 $ — $ — $ 474,365 Money market funds 1,017,191 — — 1,017,191 Commercial paper 111,996 — (21) 111,975 Corporate bonds 1,542 — — 1,542 U.S. treasury securities 5,988 2 — 5,990 Total cash and cash equivalents 1,611,082 2 (21) 1,611,063 Marketable securities: Corporate bonds 370,445 172 (7,542) 363,075 Commercial paper 241,407 71 (286) 241,192 U.S. treasury securities 244,056 33 (1,173) 242,916 Certificates of deposit 158,607 60 (421) 158,246 Municipal securities 28,029 4 (584) 27,449 Non-U.S. government and supranational bonds 23,228 — (629) 22,599 U.S. agency bonds 31,695 40 (48) 31,687 Total marketable securities 1,097,467 380 (10,683) 1,087,164 Total $ 2,708,549 $ 382 $ (10,704) $ 2,698,227
Summary of Fair Value of Marketable Securities by Contractual Maturity	The fair value of our marketable securities by contractual maturity is as follows (in thousands): December 31, 2023 Due in one year or less $ 835,925 Due after one to five years 313,223 Total $ 1,149,148

Fair value of financial instr_2

Fair value of financial instruments (Tables)	12 Months Ended
	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Summary of 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): December 31, 2023 Level 1 Level 2 Level 3 Total Cash equivalents: Money market funds $ 1,032,675 $ — $ — $ 1,032,675 Commercial paper — 106,268 — 106,268 Certificates of deposit — 1,551 — 1,551 Corporate bonds — 859 — 859 Marketable securities: Corporate bonds — 427,957 — 427,957 Commercial paper — 201,145 — 201,145 U.S. treasury securities 336,356 — — 336,356 Certificates of deposit — 132,457 — 132,457 Non-U.S. government and supranational bonds — 8,983 — 8,983 U.S. agency bonds — 42,250 — 42,250 Prepaid expenses and other current assets: Certificates of deposit — 2,542 — 2,542 Restricted cash: 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 U.S. treasury securities 5,990 — — 5,990 Corporate bonds — 1,542 — 1,542 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 Restricted cash: Certificates of deposit $ — $ 5,530 $ — $ 5,530

Other balance sheet components

Other balance sheet components (Tables)	12 Months Ended
	Dec. 31, 2023
Other Balance Sheet Components [Abstract]
Summary of Property and Equipment, Net	We carry property and equipment at cost less accumulated depreciation and calculate depreciation using the straight-line method over our assets’ estimated useful lives, which are generally: Property and Equipment Useful Life Computer and network equipment 3 years Furniture and fixtures 4 years Leasehold improvements Lesser of estimated useful life or remaining lease term Property and equipment, net consists of the following (in thousands): December 31, 2023 2022 Leasehold improvements $ 64,326 $ 104,557 Furniture and fixtures 21,077 30,882 Computer and network equipment 26,603 32,845 Total property and equipment 112,006 168,284 Less: accumulated depreciation (90,116) (116,291) Construction in progress 10,335 7,582 Property and equipment, net $ 32,225 $ 59,575
Summary of Accrued Expenses and Other Current Liabilities	Accrued expenses and other current liabilities consists of the following (in thousands): December 31, 2023 2022 Accrued hosting expenses $ 53,262 $ 53,380 Accrued compensation 48,924 48,146 Operating lease liabilities 35,666 50,274 Other accrued expenses 100,180 140,811 Accrued expenses and other current liabilities $ 238,032 $ 292,611

Goodwill and intangible asset_2

Goodwill and intangible assets, net (Tables)	12 Months Ended
	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Composition of Intangible Assets, Net	Intangible assets, net consists of the following (in thousands): December 31, 2023 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Weighted-Average Useful Life (1) Acquired technology, patents and other intangibles $ 39,907 $ (24,246) $ 15,661 4.9 years Customer relationships 17,700 (16,126) 1,574 1.6 years Total intangible assets, net $ 57,607 $ (40,372) $ 17,235 December 31, 2022 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Weighted-Average Useful Life (1) Acquired technology, patents and other intangibles $ 39,907 $ (17,427) $ 22,480 4.9 years Customer relationships 17,700 (15,585) 2,115 1.6 years Total intangible assets, net $ 57,607 $ (33,012) $ 24,595 (1) Based on the weighted-average useful life established as of acquisition date.
Summary of Estimated Future Amortization Expense	Estimated future amortization expense as of December 31, 2023, is as follows (in thousands): Intangible Asset Amortization 2024 $ 7,359 2025 5,464 2026 3,424 2027 476 2028 434 Thereafter 78 Total $ 17,235

Commitments and contingencies (

Commitments and contingencies (Tables)	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Summary of Non-cancelable Contractual Commitments	As of December 31, 2023, our non-cancelable contractual commitments are as follows (in thousands): Purchase Commitments Operating Leases Total Commitments 2024 $ — $ 42,906 $ 42,906 2025 — 33,197 33,197 2026 — 31,542 31,542 2027 — 27,919 27,919 2028 — 22,172 22,172 Thereafter 1,754,553 83,233 1,837,786 Total $ 1,754,553 $ 240,969 $ 1,995,522

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2023
Leases [Abstract]
Summary of Operating Lease Costs	Operating lease costs for the years ended December 31, 2023, 2022 and 2021, are as follows (in thousands): Year Ended December 31, 2023 2022 2021 Lease cost: Operating lease cost (1) $ 51,044 $ 66,022 $ 53,691 Short-term lease cost 759 2,809 1,434 Total $ 51,803 $ 68,831 $ 55,125 (1) The decrease in operating lease cost for the year ended December 31, 2023 compared to the year ended December 31, 2022 is primarily due to office space reductions. Refer to Note 13, "Restructuring" for further information.
Summary of Maturities of Operating Lease Liabilities	Maturities of our operating lease liabilities, which do not include short-term leases, as of December 31, 2023, are as follows (in thousands): Operating Leases 2024 $ 42,906 2025 33,197 2026 31,542 2027 27,919 2028 22,172 Thereafter 83,233 Total lease payments 240,969 Less imputed interest (44,687) Total operating lease liabilities $ 196,282

Stockholder's Equity (Tables)

Stockholder's Equity (Tables)	12 Months Ended
	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Summary of Stock Option Activity	Stock option activity during the year ended December 31, 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 (2,756) 3.08 Outstanding as of December 31, 2023 13,043 $ 15.41 6.1 $ 282,197 Exercisable as of December 31, 2023 7,164 $ 11.67 4.2 $ 181,762 (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.
Summary of Restricted Stock Unit and Restricted Stock Award Activity	RSU and RSA activity during the year ended December 31, 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) 26,878 25.35 Released (27,552) 25.11 Forfeited (1) (8,745) 24.35 Outstanding as of December 31, 2023 45,099 $ 25.83 (1) Includes the effects of awards modified during the year ended December 31, 2023.
Summary of Share-Based Compensation Expense	Share-based compensation expense during the years ended December 31, 2023, 2022 and 2021, was as follows (in thousands): Year Ended December 31, 2023 2022 2021 Cost of revenue $ 11,117 $ 7,629 $ 7,438 Research and development 422,964 324,161 309,715 Sales and marketing 96,798 99,467 52,691 General and administrative 116,981 65,866 45,538 Total share-based compensation $ 647,860 $ 497,123 $ 415,382
Summary of Share-Based Payment Award, Stock Options, Valuation Assumptions	which we estimated using the Black ‑ Scholes option-pricing model with the following assumptions: Year Ended December 31, 2022 Expected term (in years) 6.1 Risk-free interest rate 3.2 % Expected volatility 61.1 % Dividend yield — %

Net income (loss) per share (Ta

Net income (loss) per share (Tables)	12 Months Ended
	Dec. 31, 2023
Earnings Per Share [Abstract]
Summary of 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): Year Ended December 31, 2023 2022 2021 Class A Class B Class A Class B Class A Class B Basic net income (loss) per share: Numerator: Net income (loss) $ (30,937) $ (4,673) $ (83,110) $ (12,937) $ 274,699 $ 41,739 Denominator: Basic weighted-average shares used in computing net income (loss) per share 586,109 88,532 576,061 89,671 555,608 84,422 Basic net income (loss) per share $ (0.05) $ (0.05) $ (0.14) $ (0.14) $ 0.49 $ 0.49 Diluted net income (loss) per share: Numerator: Net income (loss) $ (30,937) $ (4,673) $ (83,110) $ (12,937) $ 274,699 $ 41,739 Reallocation of net income as a result of conversion of Class B to Class A common stock — — — — 41,739 — Reallocation of net income to Class B common stock — — — — — (3,115) Diluted net income (loss) $ (30,937) $ (4,673) $ (83,110) $ (12,937) $ 316,438 $ 38,624 Denominator: Basic weighted-average shares used in computing net income (loss) per share 586,109 88,532 576,061 89,671 555,608 84,422 Conversion of Class B to Class A common stock — — — — 84,422 — Weighted average effect of dilutive potential common stock — — — — 51,621 — Diluted weighted-average shares used in computing net income (loss) per share 586,109 88,532 576,061 89,671 691,651 84,422 Diluted net income (loss) per share $ (0.05) $ (0.05) $ (0.14) $ (0.14) $ 0.46 $ 0.46
Summary of 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): Year Ended December 31, 2023 2022 2021 Outstanding stock options 14,463 17,405 — Unvested restricted stock units and restricted stock awards 53,228 52,256 3,271 Total 67,691 69,661 3,271

Income taxes (Tables)

Income taxes (Tables)	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Summary of Components of Income (Loss) Before Provision for Income Taxes	The components of income (loss) before provision for income taxes are as follows (in thousands): Year Ended December 31, 2023 2022 2021 United States $ 20,713 $ 29,108 $ 331,447 Foreign (37,153) (115,052) (10,476) Income (loss) before provision for income taxes $ (16,440) $ (85,944) $ 320,971
Summary of Composition of the Provision for Income Taxes	Provision for income taxes consists of the following (in thousands): Year Ended December 31, 2023 2022 2021 Current: Federal $ 7,833 $ 1,681 $ — State 6,698 7,385 2,303 Foreign 6,477 4,381 2,957 Total current tax expense 21,008 13,447 5,260 Deferred: Federal 6 (1,861) 6 State 3 (356) 6 Foreign (1,847) (1,127) (739) Total deferred tax expense (benefit) (1,838) (3,344) (727) Provision for income taxes $ 19,170 $ 10,103 $ 4,533
Summary of Reconciliation of the Difference Between Income Taxes Computed at the Statutory Federal Income Tax Rate and the Provision for Income Taxes	The difference between income taxes computed at the statutory federal income tax rate and the provision for income taxes is attributable to the following (in thousands): Year Ended December 31, 2023 2022 2021 Tax at U.S. statutory rate $ (3,453) $ (18,048) $ 67,404 State income taxes, net of benefit 5,111 5,502 2,307 Foreign operations 12,018 26,985 4,448 Permanent book/tax differences 6,809 6,598 409 Share-based compensation (18,925) (20,663) (269,009) Change in valuation allowance 111,497 62,048 278,761 Tax credits (93,887) (52,319) (79,787) Provision for income taxes $ 19,170 $ 10,103 $ 4,533
Summary of Significant Components of Deferred Tax Assets and Liabilities	Significant components of our deferred tax assets and liabilities are as follows (in thousands): December 31, 2023 2022 Deferred tax assets: Net operating loss carryforwards $ 751,273 $ 900,200 Research tax credits 570,061 473,248 Reserves, accruals, and other 26,855 31,502 Lease obligation 44,676 56,185 Share-based compensation 30,146 40,976 Research capitalization and amortization 411,113 208,373 Total deferred tax assets 1,834,124 1,710,484 Less: valuation allowance (1,821,027) (1,660,609) Deferred tax assets, net of valuation allowance 13,097 49,875 Deferred tax liabilities: Depreciation and amortization (7,467) (44,790) Prepaid expenses (2,682) (4,190) Total deferred tax liabilities (10,149) (48,980) Deferred tax assets (liabilities) $ 2,948 $ 895
Summary of Changes in Gross Unrecognized Tax Benefits	Changes in gross unrecognized tax benefits were as follows (in thousands): Gross Unrecognized Tax Benefits Balance as of December 31, 2021 $ 205,059 Increases for tax positions of prior years — Decreases for tax positions of prior years (3,347) Increases for tax positions of current year 38,226 Balance as of December 31, 2022 $ 239,938 Increases for tax positions of prior years 3,736 Decreases for tax positions of prior years (119) Increases for tax positions of current year 44,377 Audit Settlement (37,027) Balance as of December 31, 2023 $ 250,905

Geographical information (Table

Geographical information (Tables)	12 Months Ended
	Dec. 31, 2023
Segment Reporting [Abstract]
Summary of Revenue Disaggregated by Geography	Revenue disaggregated by geography based on our customers’ billing addresses is as follows (in thousands): Year Ended December 31, 2023 2022 2021 U.S. and Canada (1) $ 2,350,188 $ 2,264,640 $ 2,109,089 Europe (2) 501,290 410,516 384,657 Rest of World 203,593 127,418 84,281 Total revenue $ 3,055,071 $ 2,802,574 $ 2,578,027 (1) United States revenue w as $2,226.3 million, $2,144.3 million and $2,003.6 million for the years ended December 31, 2023, 2022 and 2021, 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.
Summary of 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): December 31, 2023 2022 United States $ 66,335 $ 205,374 Ireland 18,658 4,950 Mexico 12,835 11,627 International (1) 26,516 43,877 Total property and equipment, net and operating lease right-of-use assets $ 124,344 $ 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)	12 Months Ended
	Dec. 31, 2023
Restructuring and Related Activities [Abstract]
Summary of Restructuring Charges	Restructuring charges for the year ended December 31, 2023 were as follows (in thousands): 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.

Description of business and s_4

Description of business and summary of significant accounting policies - Narrative (Details) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2022 USD ($)	Dec. 31, 2023 USD ($) segment	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Summary of Significant Accounting Policies [Line Items]
Number of operating segments | segment		1
Deferred revenue	$ 13,200	$ 15,300	$ 13,200
Service period		4 years
Advertising expenses		$ 145,600	139,700	$ 94,700
Estimated useful lives of intangible assets (up to)		10 years
Impairment and abandonment charges for leases and leasehold improvements		$ 117,315	$ 0	$ 0
Impairment charges for intangible assets	$ 9,400
2019 Plan | Minimum
Summary of Significant Accounting Policies [Line Items]
Service period		2 years
2019 Plan | Maximum
Summary of Significant Accounting Policies [Line Items]
Service period		4 years
RSUs | 2009 Plan
Summary of Significant Accounting Policies [Line Items]
Service period		4 years

Description of business and s_5

Description of business and summary of significant accounting policies - Estimated Useful Lives of Property and Equipment (Details)	Dec. 31, 2023
Computer and network equipment
Property, Plant and Equipment [Line Items]
Useful Life	3 years
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Useful Life	4 years

Cash, cash equivalents and ma_3

Cash, cash equivalents and marketable securities - Composition of Cash, Cash Equivalents and Marketable Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Cash and cash equivalents:
Amortized Cost	$ 1,361,980	$ 1,611,082
Unrealized Gains	0	2
Unrealized Losses	(44)	(21)
Fair Value	1,361,936	1,611,063
Marketable securities:
Amortized Cost	1,149,425	1,097,467
Unrealized Gains	1,896	380
Unrealized Losses	(2,173)	(10,683)
Fair Value	1,149,148	1,087,164
Total
Amortized Cost	2,511,405	2,708,549
Unrealized Gains	1,896	382
Unrealized Losses	(2,217)	(10,704)
Fair Value	2,511,084	2,698,227
Corporate bonds
Marketable securities:
Amortized Cost	428,002	370,445
Unrealized Gains	1,277	172
Unrealized Losses	(1,322)	(7,542)
Fair Value	427,957	363,075
Commercial paper
Marketable securities:
Amortized Cost	200,963	241,407
Unrealized Gains	212	71
Unrealized Losses	(30)	(286)
Fair Value	201,145	241,192
U.S. treasury securities
Marketable securities:
Amortized Cost	336,721	244,056
Unrealized Gains	251	33
Unrealized Losses	(616)	(1,173)
Fair Value	336,356	242,916
Certificates of deposit
Marketable securities:
Amortized Cost	132,314	158,607
Unrealized Gains	152	60
Unrealized Losses	(9)	(421)
Fair Value	132,457	158,246
Municipal securities
Marketable securities:
Amortized Cost		28,029
Unrealized Gains		4
Unrealized Losses		(584)
Fair Value		27,449
Non-U.S. government and supranational bonds
Marketable securities:
Amortized Cost	9,101	23,228
Unrealized Gains	1	0
Unrealized Losses	(119)	(629)
Fair Value	8,983	22,599
U.S. agency bonds
Marketable securities:
Amortized Cost	42,324	31,695
Unrealized Gains	3	40
Unrealized Losses	(77)	(48)
Fair Value	42,250	31,687
Cash
Cash and cash equivalents:
Amortized Cost	220,583	474,365
Unrealized Gains	0	0
Unrealized Losses	0	0
Fair Value	220,583	474,365
Money market funds
Cash and cash equivalents:
Amortized Cost	1,032,675	1,017,191
Unrealized Gains	0	0
Unrealized Losses	0	0
Fair Value	1,032,675	1,017,191
Commercial paper
Cash and cash equivalents:
Amortized Cost	106,312	111,996
Unrealized Gains	0	0
Unrealized Losses	(44)	(21)
Fair Value	106,268	111,975
Corporate bonds
Cash and cash equivalents:
Amortized Cost	859	1,542
Unrealized Gains	0	0
Unrealized Losses	0	0
Fair Value	859	1,542
U.S. treasury securities
Cash and cash equivalents:
Amortized Cost		5,988
Unrealized Gains		2
Unrealized Losses		0
Fair Value		$ 5,990
Certificates of deposit
Cash and cash equivalents:
Amortized Cost	1,551
Unrealized Gains	0
Unrealized Losses	0
Fair Value	$ 1,551

Cash, cash equivalents and ma_4

Cash, cash equivalents and marketable securities - Fair Value of Marketable Securities by Contractual Maturity (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Cash and Cash Equivalents [Abstract]
Due in one year or less	$ 835,925
Due after one to five years	313,223
Total	$ 1,149,148	$ 1,087,164

Fair value of financial instr_3

Fair value of financial instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	$ 1,361,936	$ 1,611,063
Marketable securities	1,149,148	1,087,164
Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	427,957	363,075
Corporate bonds | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	427,957	363,075
Corporate bonds | Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Corporate bonds | Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	427,957	363,075
Corporate bonds | Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	201,145	241,192
Commercial paper | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	201,145	241,192
Commercial paper | Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Commercial paper | Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	201,145	241,192
Commercial paper | Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
U.S. treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	336,356	242,916
U.S. treasury securities | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	336,356	242,916
U.S. treasury securities | Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	336,356	242,916
U.S. treasury securities | Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
U.S. treasury securities | Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	132,457	158,246
Certificates of deposit | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	132,457	158,246
Prepaid expenses and other current assets	2,542	1,067
Restricted cash	4,054	5,530
Certificates of deposit | Recurring | Level 1
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
Restricted cash	0	0
Certificates of deposit | Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	132,457	158,246
Prepaid expenses and other current assets	2,542	1,067
Restricted cash	4,054	5,530
Certificates of deposit | Recurring | Level 3
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
Restricted cash	0	0
Municipal securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities		27,449
Municipal securities | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities		27,449
Municipal securities | Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities		0
Municipal securities | Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities		27,449
Municipal securities | Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities		0
Non-U.S. government and supranational bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	8,983	22,599
Non-U.S. government and supranational bonds | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	8,983	22,599
Non-U.S. government and supranational bonds | Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Non-U.S. government and supranational bonds | Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	8,983	22,599
Non-U.S. government and supranational bonds | Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
U.S. agency bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	42,250	31,687
U.S. agency bonds | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	42,250	31,687
U.S. agency bonds | Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
U.S. agency bonds | Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	42,250	31,687
U.S. agency bonds | Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	1,032,675	1,017,191
Money market funds | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	1,032,675	1,017,191
Money market funds | Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	1,032,675	1,017,191
Money market funds | Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Money market funds | Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	106,268	111,975
Commercial paper | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	106,268	111,975
Commercial paper | Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Commercial paper | Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	106,268	111,975
Commercial paper | Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	1,551
Certificates of deposit | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	1,551
Certificates of deposit | Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0
Certificates of deposit | Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	1,551
Certificates of deposit | Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0
Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	859	1,542
Corporate bonds | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	859	1,542
Corporate bonds | Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Corporate bonds | Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	859	1,542
Corporate bonds | Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	$ 0	0
U.S. treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents		5,990
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 | Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents		5,990
U.S. treasury securities | Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents		0
U.S. treasury securities | Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents		$ 0

Other balance sheet component_2

Other balance sheet components - Property and Equipment, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Less: accumulated depreciation	$ (90,116)	$ (116,291)
Property and equipment, net	32,225	59,575
Depreciable Property and Equipment
Property, Plant and Equipment [Line Items]
Property and equipment	112,006	168,284
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment	64,326	104,557
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property and equipment	21,077	30,882
Computer and network equipment
Property, Plant and Equipment [Line Items]
Property and equipment	26,603	32,845
Construction in progress
Property, Plant and Equipment [Line Items]
Property and equipment	$ 10,335	$ 7,582

Other balance sheet component_3

Other balance sheet components - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Other Balance Sheet Components [Abstract]
Depreciation expense	$ 14.1	$ 21.6	$ 26.2

Other balance sheet component_4

Other balance sheet components - Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Other Balance Sheet Components [Abstract]
Accrued hosting expenses	$ 53,262	$ 53,380
Accrued compensation	48,924	48,146
Operating lease liabilities	$ 35,666	$ 50,274
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accrued expenses and other current liabilities	Accrued expenses and other current liabilities
Other accrued expenses	$ 100,180	$ 140,811
Accrued expenses and other current liabilities	$ 238,032	$ 292,611

Acquisition (Details)

Acquisition (Details) - The Yes Platform, Inc. - USD ($)		3 Months Ended
	Jun. 10, 2022	Dec. 31, 2022
Asset Acquisition [Line Items]
Purchase consideration in cash	$ 87,600,000
Goodwill	60,000,000
Deductible goodwill	0
Customer Relationships
Asset Acquisition [Line Items]
Finite intangibles acquired	15,000,000
Acquired intangible assets impairment charges		$ 9,400,000
Developed Technology Rights
Asset Acquisition [Line Items]
Finite intangibles acquired	$ 13,600,000
Acquired intangible assets impairment charges		$ 9,400,000

Goodwill and intangible asset_3

Goodwill and intangible assets, net - Narrative (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Goodwill acquired			$ 60
Amortization expense		$ 7.4	$ 24.9	$ 1.3
Impairment charges for intangible assets	$ 9.4
Sales and marketing
Finite-Lived Intangible Assets [Line Items]
Impairment charges for intangible assets	6.3
Cost of revenue
Finite-Lived Intangible Assets [Line Items]
Impairment charges for intangible assets	$ 3.1

Goodwill and intangible asset_4

Goodwill and intangible assets, net - Composition of Intangible Assets, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 57,607	$ 57,607
Accumulated Amortization	(40,372)	(33,012)
Net Carrying Amount	$ 17,235	24,595
Weighted-Average Useful Life	10 years
Acquired technology, patents and other intangibles
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 39,907	39,907
Accumulated Amortization	(24,246)	(17,427)
Net Carrying Amount	$ 15,661	$ 22,480
Weighted-Average Useful Life	4 years 10 months 24 days	4 years 10 months 24 days
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 17,700	$ 17,700
Accumulated Amortization	(16,126)	(15,585)
Net Carrying Amount	$ 1,574	$ 2,115
Weighted-Average Useful Life	1 year 7 months 6 days	1 year 7 months 6 days

Goodwill and intangible asset_5

Goodwill and intangible assets, net - Estimated Future Amortization Expense (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
2024	$ 7,359
2025	5,464
2026	3,424
2027	476
2028	434
Thereafter	78
Net Carrying Amount	$ 17,235	$ 24,595

Commitments and contingencies -

Commitments and contingencies - Non-cancelable Contractual Commitments (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Purchase Commitments
2024	$ 0
2025	0
2026	0
2027	0
2028	0
Thereafter	1,754,553
Total	1,754,553
Operating Leases
2024	42,906
2025	33,197
2026	31,542
2027	27,919
2028	22,172
Thereafter	83,233
Total lease payments	240,969
Total Commitments
2024	42,906
2025	33,197
2026	31,542
2027	27,919
2028	22,172
Thereafter	1,837,786
Total	$ 1,995,522

Commitments and contingencies_2

Commitments and contingencies - Purchase Commitments (Details) - USD ($) $ in Millions	Dec. 31, 2023	Apr. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Minimum required purchases	$ 1,754.6	$ 3,250

Commitments and contingencies_3

Commitments and contingencies - Revolving Credit Facility (Details) - Line of Credit $ in Millions	1 Months Ended
	Oct. 31, 2022 USD ($)	Dec. 31, 2023 USD ($)	Oct. 31, 2023 USD ($)	Nov. 30, 2018 USD ($)
Revolving Credit Facility
Commitments And Contingencies [Line Items]
Maximum borrowing capacity	$ 400		$ 500	$ 500
Term of borrowing agreement	5 years
Commitment fee rate	0.15%
Ration of consolidated net debt to EBITDA (no greater than)	3.50
Future ratio of consolidated net debt to EBITDA (no greater than)	4
Remaining borrowing capacity		$ 500
Revolving Credit Facility | Secured Overnight Financing Rate (SOFR)
Commitments And Contingencies [Line Items]
Base rate component, spread on variable rate	0.0010
Basis spread on variable rate	1.50%
Revolving Credit Facility | Alternative Base Rate
Commitments And Contingencies [Line Items]
Basis spread on variable rate	0.50%
Revolving Credit Facility | Credit Agreement Amended And Restated
Commitments And Contingencies [Line Items]
Accordion feature maximum borrowings capacity	$ 405		$ 305
Letter of Credit
Commitments And Contingencies [Line Items]
Commitment fee	0.125%

Leases - Operating Lease Costs

Leases - Operating Lease Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Lease cost:
Operating lease cost	$ 51,044	$ 66,022	$ 53,691
Short-term lease cost	759	2,809	1,434
Total	$ 51,803	$ 68,831	$ 55,125

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Weighted-average remaining term of operating leases	7 years 2 months 12 days	6 years 9 months 18 days
Weighted-average discount rate used to measure the present value of operating lease liabilities	5.10%	4.10%
Cash payments included in the measurement of operating lease liabilities	$ 61.8	$ 64	$ 59

Leases - Maturities of Operatin

Leases - Maturities of Operating Lease Liabilities (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Leases [Abstract]
2024	$ 42,906
2025	33,197
2026	31,542
2027	27,919
2028	22,172
Thereafter	83,233
Total lease payments	240,969
Less imputed interest	(44,687)
Total operating lease liabilities	$ 196,282

Stockholder's Equity - Narrativ

Stockholder's Equity - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands		12 Months Ended
	Feb. 02, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Sep. 16, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant-date fair value of stock options vested		$ 28,400	$ 9,500	$ 3,200
Aggregate intrinsic value of stock options exercised		70,200	$ 180,200	$ 511,400
Unrecognized share-based compensation expense		$ 1,128,100
Weighted-average recognition period for unrecognized share-based compensation expense		2 years 2 months 12 days
Service period		4 years
Weighted-average grant-date fair value of stock options granted (in dollars per share)			$ 11.79
Repurchases of Class A common stock		$ 500,000
Stock Repurchase Program , February 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Authorized stock repurchase amount	$ 500,000
Repurchases of Class A common stock (in shares)	21,215,663
Repurchases of Class A common stock	$ 500,000
Stock repurchased, average price per share (in dollars per share)	$ 23.57
Stock Repurchase Program , September 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Authorized stock repurchase amount					$ 1,000,000
Remaining authorized stock repurchase amount		$ 1,000,000
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield			0%
2009 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved for issuance (in shares)		0
2009 Plan | Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period		10 years
2009 Plan | RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period		7 years
Service period		4 years
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)		145,335,295
2019 Plan | Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period		10 years

Stockholder's Equity - Stock Op

Stockholder's Equity - Stock Option Activity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Shares
Beginning balance (in shares)	15,799
Exercised (in shares)	(2,756)
Ending balance (in shares)	13,043	15,799
Exercisable (in shares)	7,164
Weighted-Average Exercise Price
Beginning balance (in dollars per share)	$ 13.25
Exercised (in dollars per share)	3.08
Ending balance (in dollars per share)	15.41	$ 13.25
Exercisable (in dollars per share)	$ 11.67
Weighted-Average Remaining Contractual Term, Outstanding	6 years 1 month 6 days	6 years 1 month 6 days
Weighted-Average Remaining Contractual Term, Exercisable	4 years 2 months 12 days
Aggregate Intrinsic Value, Outstanding	$ 282,197	$ 174,165
Aggregate Intrinsic Value, Exercisable	$ 181,762

Stockholder's Equity - Restrict

Stockholder's Equity - Restricted Stock Unit and Restricted Stock Award Activity (Details) - Unvested restricted stock units and restricted stock awards shares in Thousands	12 Months Ended
	Dec. 31, 2023 $ / shares shares
Shares
Beginning balance (in shares) | shares	54,518
Granted (in shares) | shares	26,878
Released (in shares) | shares	(27,552)
Forfeited (in shares) | shares	(8,745)
Ending balance (in shares) | shares	45,099
Weighted Average Grant Date Fair Value
Beginning balance (in dollars per share) | $ / shares	$ 25.46
Granted (in dollars per share) | $ / shares	25.35
Released (in dollars per share) | $ / shares	25.11
Forfeited (in dollars per share) | $ / shares	24.35
Ending balance (in dollars per share) | $ / shares	$ 25.83

Stockholder's Equity - Share-ba

Stockholder's Equity - Share-based Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based compensation	$ 647,860	$ 497,123	$ 415,382
Cost of revenue
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based compensation	11,117	7,629	7,438
Research and development
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based compensation	422,964	324,161	309,715
Sales and marketing
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based compensation	96,798	99,467	52,691
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based compensation	$ 116,981	$ 65,866	$ 45,538

Stockholder's Equity - Fair Val

Stockholder's Equity - Fair Value of Stock Options (Details) - Stock options	12 Months Ended
	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)	6 years 1 month 6 days
Risk-free interest rate	3.20%
Expected volatility	61.10%
Dividend yield	0%

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	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Denominator:
Basic weighted-average shares used in computing net income (loss) per share (in shares)	674,641	665,732	640,030
Diluted weighted-average shares used in computing net income (loss) per share) (in shares)	674,641	665,732	691,651
Basic net income (loss) per share (in dollars per share)	$ (0.05)	$ (0.14)	$ 0.49
Diluted net income (loss) per share (in dollars per share)	$ (0.05)	$ (0.14)	$ 0.46
Class A
Numerator:
Net income (loss)	$ (30,937)	$ (83,110)	$ 274,699
Reallocation of net income as a result of conversion of Class B to Class A common stock	0	0	41,739
Reallocation of net income to Class B common stock	0	0	0
Diluted net income (loss)	$ (30,937)	$ (83,110)	$ 316,438
Denominator:
Basic weighted-average shares used in computing net income (loss) per share (in shares)	586,109	576,061	555,608
Conversion of Class B to Class A common stock (in shares)	0	0	84,422
Weighted average effect of dilutive potential common stock (in shares)	0	0	51,621
Diluted weighted-average shares used in computing net income (loss) per share) (in shares)	586,109	576,061	691,651
Basic net income (loss) per share (in dollars per share)	$ (0.05)	$ (0.14)	$ 0.49
Diluted net income (loss) per share (in dollars per share)	$ (0.05)	$ (0.14)	$ 0.46
Class B
Numerator:
Net income (loss)	$ (4,673)	$ (12,937)	$ 41,739
Reallocation of net income as a result of conversion of Class B to Class A common stock	0	0	0
Reallocation of net income to Class B common stock	0	0	(3,115)
Diluted net income (loss)	$ (4,673)	$ (12,937)	$ 38,624
Denominator:
Basic weighted-average shares used in computing net income (loss) per share (in shares)	88,532	89,671	84,422
Conversion of Class B to Class A common stock (in shares)	0	0	0
Weighted average effect of dilutive potential common stock (in shares)	0	0	0
Diluted weighted-average shares used in computing net income (loss) per share) (in shares)	88,532	89,671	84,422
Basic net income (loss) per share (in dollars per share)	$ (0.05)	$ (0.14)	$ 0.49
Diluted net income (loss) per share (in dollars per share)	$ (0.05)	$ (0.14)	$ 0.46

Net income (loss) per share - W

Net income (loss) per share - Weighted-Average Anti-Dilutive Shares of Common Stock Excluded from the Calculation of Diluted Net Loss Per Share (Details) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted-average anti-dilutive shares of common stock (in shares)	67,691	69,661	3,271
Outstanding stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted-average anti-dilutive shares of common stock (in shares)	14,463	17,405	0
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)	53,228	52,256	3,271

Income taxes - Components of Lo

Income taxes - Components of Loss Before Provision for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
United States	$ 20,713	$ 29,108	$ 331,447
Foreign	(37,153)	(115,052)	(10,476)
Income (loss) before provision for income taxes	$ (16,440)	$ (85,944)	$ 320,971

Income taxes - Composition of t

Income taxes - Composition of the Provision for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Current:
Federal	$ 7,833	$ 1,681	$ 0
State	6,698	7,385	2,303
Foreign	6,477	4,381	2,957
Total current tax expense	21,008	13,447	5,260
Deferred:
Federal	6	(1,861)	6
State	3	(356)	6
Foreign	(1,847)	(1,127)	(739)
Total deferred tax expense (benefit)	(1,838)	(3,344)	(727)
Provision for income taxes	$ 19,170	$ 10,103	$ 4,533

Income taxes - Reconciliation o

Income taxes - Reconciliation of the Difference Between Income Taxes Computed at the Statutory Federal Income Tax Rate and the Provision for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Tax at U.S. statutory rate	$ (3,453)	$ (18,048)	$ 67,404
State income taxes, net of benefit	5,111	5,502	2,307
Foreign operations	12,018	26,985	4,448
Permanent book/tax differences	6,809	6,598	409
Share-based compensation	(18,925)	(20,663)	(269,009)
Change in valuation allowance	111,497	62,048	278,761
Tax credits	(93,887)	(52,319)	(79,787)
Provision for income taxes	$ 19,170	$ 10,103	$ 4,533

Income taxes - Significant Comp

Income taxes - Significant Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Deferred tax assets:
Net operating loss carryforwards	$ 751,273	$ 900,200
Research tax credits	570,061	473,248
Reserves, accruals, and other	26,855	31,502
Lease obligation	44,676	56,185
Share-based compensation	30,146	40,976
Research capitalization and amortization	411,113	208,373
Total deferred tax assets	1,834,124	1,710,484
Less: valuation allowance	(1,821,027)	(1,660,609)
Deferred tax assets, net of valuation allowance	13,097	49,875
Deferred tax liabilities:
Depreciation and amortization	(7,467)	(44,790)
Prepaid expenses	(2,682)	(4,190)
Total deferred tax liabilities	(10,149)	(48,980)
Deferred tax assets	$ 2,948	$ 895

Income taxes - Narrative (Detai

Income taxes - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Income Taxes [Line Items]
Increase (decrease) in deferred tax asset valuation allowance	$ 160.4	$ 120.7
Unrecognized tax benefits that would affect effective tax rate	250.9
Effective tax rate impact	5.3
Remaining unrecognized tax benefits	245.6
Federal
Income Taxes [Line Items]
Net operating loss carryforwards	2,914.6
Federal | Research Tax Credits
Income Taxes [Line Items]
Tax credit carryforwards	491.4
State | California
Income Taxes [Line Items]
Net operating loss carryforwards	555
State | California | Research Tax Credits
Income Taxes [Line Items]
Tax credit carryforwards	365.7
State | Other States
Income Taxes [Line Items]
Net operating loss carryforwards	1,387.5
Foreign | Ireland
Income Taxes [Line Items]
Net operating loss carryforwards	208.5
Foreign | Other Foreign
Income Taxes [Line Items]
Net operating loss carryforwards	$ 10.2

Income taxes - Changes in Gross

Income taxes - Changes in Gross Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Beginning balance	$ 239,938	$ 205,059
Increases for tax positions of prior years	3,736	0
Decreases for tax positions of prior years	(119)	(3,347)
Increases for tax positions of current year	44,377	38,226
Audit Settlement	(37,027)
Ending balance	$ 250,905	$ 239,938

Geographical information (Detai

Geographical information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	$ 3,055,071	$ 2,802,574	$ 2,578,027
Total property and equipment, net and operating lease right-of-use assets	124,344	265,828
United States and Canada
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	2,350,188	2,264,640	2,109,089
Europe
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	501,290	410,516	384,657
Rest of World
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	203,593	127,418	84,281
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	2,226,300	2,144,300	$ 2,003,600
Total property and equipment, net and operating lease right-of-use assets	66,335	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	18,658	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	12,835	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	$ 26,516	$ 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	12 Months Ended
	Dec. 31, 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