Fastly (FSLY) 10-Q 5 May 22 2022 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares shares in Millions	3 Months Ended
	Mar. 31, 2022	Apr. 29, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2022
Document Transition Report	false
Entity File Number	001-38897
Entity Registrant Name	FASTLY, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	27-5411834
Entity Address, Address Line One	475 Brannan Street, Suite 300
Entity Address, City or Town	San Francisco
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94107
City Area Code	844
Local Phone Number	432-7859
Title of 12(b) Security	Class A Common Stock, $0.00002 par value
Trading Symbol	FSLY
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		120.9
Entity Central Index Key	0001517413
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Amendment Flag	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 245,794	$ 166,068
Marketable securities, current	393,950	361,795
Accounts receivable, net of allowance for credit losses of $3,403 and $3,311 as of March 31, 2022 and December 31, 2021, respectively	73,717	64,625
Prepaid expenses and other current assets	23,616	32,160
Total current assets	737,077	624,648
Property and equipment, net	174,550	166,961
Operating lease right-of-use assets, net	63,455	69,631
Goodwill	637,570	636,805
Intangible assets, net	97,287	102,596
Marketable securities, non-current	394,464	528,911
Other assets	30,020	29,468
Total assets	2,134,423	2,159,020
Current liabilities:
Accounts payable	8,248	9,257
Accrued expenses	49,902	36,112
Finance lease liabilities, current	26,766	21,125
Operating lease liabilities, current	18,688	20,271
Other current liabilities	36,569	45,107
Total current liabilities	140,173	131,872
Long-term debt	934,121	933,205
Finance lease liabilities, noncurrent	28,867	22,293
Operating lease liabilities, noncurrent	52,334	55,114
Other long-term liabilities	2,205	2,583
Total liabilities	1,157,700	1,145,067
Commitments and contingencies (Note 9)
Stockholders’ equity:
Class A common stock	2	2
Additional paid-in capital	1,561,371	1,527,468
Accumulated other comprehensive loss	(9,496)	(2,627)
Accumulated deficit	(575,154)	(510,890)
Total stockholders’ equity	976,723	1,013,953
Total liabilities and stockholders’ equity	$ 2,134,423	$ 2,159,020

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 3,403	$ 3,311

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Statement [Abstract]
Revenue	$ 102,382	$ 84,852
Cost of revenue	53,915	37,494
Gross profit	48,467	47,358
Operating expenses:
Research and development	40,437	28,988
Sales and marketing	41,480	34,872
General and administrative	29,554	33,461
Total operating expenses	111,471	97,321
Loss from operations	(63,004)	(49,963)
Interest income	681	174
Interest expense	(1,622)	(661)
Other expense	(279)	(64)
Loss before income taxes	(64,224)	(50,514)
Income tax expense	40	169
Net loss	$ (64,264)	$ (50,683)
Net loss per share attributable to common stockholders, basic (in US dollar per share)	$ (0.54)	$ (0.44)
Net loss per share attributable to common stockholders, diluted (in US dollar per share)	$ (0.54)	$ (0.44)
Weighted-average shares used in computing net loss per share attributable to common stockholder, basic (in shares)	119,673	114,134
Weighted-average shares used in computing net loss per share attributable to common stockholder, diluted (in shares)	119,673	114,134

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement of Other Comprehensive Income [Abstract]
Net loss	$ (64,264)	$ (50,683)
Other comprehensive loss:
Foreign currency translation loss	(187)	(65)
Loss on investments in available-for-sale-securities	(6,682)	(78)
Total other comprehensive loss	(6,869)	(143)
Comprehensive loss	$ (71,133)	$ (50,826)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($) $ in Thousands	Total	Common StockCommon Class A	Common StockCommon Class AVesting of restricted stock units	Common StockCommon Class AVesting of restricted stock awards	Common StockCommon Class B	Additional Paid-in Capital	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit
Beginning balance (in shares) at Dec. 31, 2020		103,394,000			10,229,000
Beginning balance at Dec. 31, 2020	$ 1,061,865	$ 1			$ 1	$ 1,350,050	$ 6	$ (288,193)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options (in shares)		601,000
Exercise of stock options	2,719					2,719
Vesting of early exercised stock options (in shares)					14,000
Vesting of early exercised stock options	64					64
Vesting of restricted stock units/awards (in shares)			490,000	112,000
Stock-based compensation	31,212					31,212
Conversion of stock (in shares)		352,000			(352,000)
Net loss	(50,683)							(50,683)
Other comprehensive loss	(143)						(143)
Ending balance (in shares) at Mar. 31, 2021		104,950,000			9,891,000
Ending balance at Mar. 31, 2021	1,045,034	$ 1			$ 1	1,384,045	(137)	(338,876)
Beginning balance (in shares) at Dec. 31, 2021		118,811,000
Beginning balance at Dec. 31, 2021	$ 1,013,953	$ 2				1,527,468	(2,627)	(510,890)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options (in shares)	1,351,000	1,351,000
Exercise of stock options	$ 3,048					3,048
Vesting of restricted stock units/awards (in shares)			577,000	38,000
Stock-based compensation	30,855					30,855
Net loss	(64,264)							(64,264)
Other comprehensive loss	(6,869)						(6,869)
Ending balance (in shares) at Mar. 31, 2022		120,777,000
Ending balance at Mar. 31, 2022	$ 976,723	$ 2				$ 1,561,371	$ (9,496)	$ (575,154)

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash flows from operating activities:
Net loss	$ (64,264)	$ (50,683)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation expense	9,850	6,419
Amortization of intangible assets	5,309	5,363
Amortization of right-of-use assets and other	6,839	6,357
Amortization of debt discount and issuance costs	964	332
Amortization of deferred contract costs	1,851	1,411
Stock-based compensation	40,022	30,838
Provision for credit losses	127	(420)
Interest on finance lease	(591)	(330)
Loss on disposals of property and equipment	268	27
Amortization and accretion of discounts and premiums on investments	957	0
Other adjustments	128	64
Changes in operating assets and liabilities:
Accounts receivable	(9,219)	(1,685)
Prepaid expenses and other current assets	(2,111)	(1,680)
Other assets	(2,451)	(2,952)
Accounts payable	(2,492)	2,119
Accrued expenses	4,891	(755)
Operating lease liabilities	(6,557)	(6,365)
Other liabilities	3,289	1,071
Net cash used in operating activities	(13,190)	(10,869)
Cash flows from investing activities:
Purchases of marketable securities	(148,193)	(64,331)
Sales of marketable securities	2,301	12,497
Maturities of marketable securities	240,547	25,503
Business acquisitions, net of cash acquired	(775)	0
Purchases of property and equipment	(2,387)	(8,079)
Capitalized internal-use software	(3,810)	(989)
Net cash provided by (used in) investing activities	87,683	(35,399)
Cash flows from financing activities:
Issuance of convertible note, net of issuance costs	0	930,775
Payments of other debt issuance costs	0	(1,351)
Repayments of finance lease liabilities	(7,159)	(2,951)
Cash received for restricted stock sold in advance of vesting conditions	10,655	0
Cash paid for early sale of restricted shares	(3,498)	0
Proceeds from exercise of vested stock options	3,048	2,719
Proceeds from employee stock purchase plan	2,406	3,071
Net cash provided by financing activities	5,452	932,263
Effects of exchange rate changes on cash, cash equivalents, and restricted cash	(219)	(112)
Net increase in cash, cash equivalents, and restricted cash	79,726	885,883
Cash, cash equivalents, and restricted cash at beginning of period	166,961	63,880
Cash, cash equivalents, and restricted cash at end of period	246,687	949,763
Supplemental disclosure of cash flow information:
Cash paid for interest	592	355
Property and equipment additions not yet paid in cash	9,084	750
Stock-based compensation capitalized to internal-use software	1,415	374
Assets obtained in exchange for operating lease obligations	2,088	8,824
Assets obtained in exchange for finance lease obligations	19,374	2,009
Reconciliation of cash, cash equivalents, and restricted cash as shown in the statements of cash flows:
Cash and cash equivalents	245,794	948,783
Restricted cash, current	0	87
Restricted cash, non-current	893	893
Total cash, cash equivalents, and restricted cash	$ 246,687	$ 949,763

Nature of Business

Nature of Business	3 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Business	Nature of Business Fastly, Inc. has built an edge cloud platform that can process, serve, and secure its customer’s applications as close to their end users as possible. As of March 31, 2022, the Company's edge network spans across 75 markets around the world. The Company was incorporated in Delaware in 2011 and is headquartered in San Francisco, California. As used herein, "Fastly," "we," "our," "the Company," and similar terms include Fastly, Inc. and its subsidiaries, unless the context indicates otherwise. Conversion of dual class common stock structure On July 12, 2021, all outstanding shares of Class B common stock automatically converted into the same number of shares of Class A common stock (the "Conversion"), pursuant to the terms of the Company's amended and restated certificate of incorporation (the "Certificate"). Upon the Conversion, outstanding options denominated in shares of Class B common stock issued under any of its equity incentive plans remained unchanged, except that they now represent the right to receive shares of Class A common stock on exercise. In accordance with the Certificate, the shares of Class B common stock that converted to Class A common stock were retired and will not be reissued by us.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation and Consolidation The accompanying condensed consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles (“GAAP”), consistent in all material respects with those applied in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2021, filed with the Securities and Exchange Commission (“SEC”) on March 1, 2022. The Company's condensed consolidated financial statements include its accounts and its wholly owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation. The Company's condensed consolidated financial statements are unaudited but include all adjustments of a normal recurring nature necessary for a fair presentation of its quarterly results. The Company's condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and related notes in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2021. Certain changes to presentation have been made to conform the prior period presentation to the current period reporting. Such reclassifications did not affect the condensed consolidated balance sheets, total revenues, operating income, or net income. Use of Estimates The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates, judgements and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. The Company bases its estimates on historical experience and also on assumptions that it believes are reasonable. Due to the Coronavirus (“COVID-19”) pandemic, there has been uncertainty and disruption in the global economy and financial markets. The Company is not aware of any specific event or circumstance that would require an update to its estimates or judgments or a revision of the carrying value of its assets or liabilities as of March 31, 2022. These estimates may change, as new events occur and additional information is obtained, as well as other factors related to COVID-19 that could result in material impacts to the Company's consolidated financial statements in future reporting periods. Significant Accounting Policies There have been no material changes to the Company's significant accounting policies as compared to those described in “Note 2 – Summary of Significant Accounting Policies” of the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2021. Recently Adopted and Issued Accounting Pronouncements The Company has not adopted any new accounting pronouncements in the three months ended March 31, 2022. Other recently issued accounting pronouncements are not expected to have a material impact on its condensed consolidated financial statements. Concentrations of Credit Risk Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash, cash equivalents, marketable securities and accounts receivable. The Company's cash, cash equivalents, and marketable securities primarily consisted of bank deposits, money market funds, investment-grade commercial paper, corporate notes and bonds, U.S. treasury securities, municipal securities, foreign government and supranational securities and asset-backed securities held at major financial institutions. The primary focus of its investment strategy is to preserve capital and meet liquidity requirements. The Company's investment policy limits the amount of credit exposure with any one financial institution or commercial issuer. Concentrations of credit risk with respect to accounts receivable are primarily limited to certain customers to which the Company makes substantial sales. The Company's customer base consists of a large number of geographically dispersed customers diversified across several industries. In the three months ended March 31, 2022 and March 31, 2021, no customer accounted for more than 10% of revenue. As of March 31, 2022 and December 31, 2021, no customer accounted for more than 10% of the total accounts receivable balance.

Revenue

Revenue	3 Months Ended
	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
Revenue	Revenue Revenue by geography is based on the billing address of the customer. Aside from the United States, no other single country accounted for more than 10% of revenue for both the three months ended March 31, 2022 and March 31, 2021. The following table presents the Company's net revenue by geographic region: Three months ended March 31, 2022 2021 (in thousands) United States $ 75,614 $ 62,734 Asia Pacific 11,720 9,154 Europe 9,353 9,640 All other 5,695 3,324 Total revenue $ 102,382 $ 84,852 The majority of the Company's revenue is derived from enterprise customers, which are defined as customers with revenue in excess of $100,000 over the previous 12-month period. The following table presents its net revenue for enterprise and non-enterprise customers: Three months ended March 31, 2022 2021 (in thousands) Enterprise customers $ 91,101 $ 75,465 Non-enterprise customers 11,281 9,387 Total revenue $ 102,382 $ 84,852 Contract balances The following table presents the Company's contract assets and contract liabilities as of March 31, 2022 and as of December 31, 2021: As of March 31, 2022 As of December 31, 2021 (in thousands) Contract assets $ 56 $ 89 Contract liabilities $ 30,660 $ 28,907 The Company's payment terms and conditions vary by contract type. Payment terms on invoiced amounts are at a weighted average of 40 days. The following table presents the revenue recognized during the three months ended March 31, 2022 and 2021 from amounts included in the contract liability at the beginning of the period: Three months ended March 31, 2022 2021 (in thousands) Revenue recognized in the period from amounts included in contract liability at the beginning of the period $ 9,238 $ 5,903 Remaining performance obligations As of March 31, 2022, the Company had $157.5 million of remaining performance obligations, which includes deferred revenue and amounts that will be invoiced and recognized in future periods, respectively. As of March 31, 2022, the Company expects to recognize approximately 78% of this balance over the next 12 months in the Company's condensed consolidated statement of operations and comprehensive loss. The typical contract term is one year, although terms may vary by contract. Costs to obtain a contract As of March 31, 2022 and December 31, 2021, the Company's costs to obtain contracts were as follows: As of March 31, 2022 As of December 31, 2021 (in thousands) Deferred contract costs, net $ 26,061 $ 23,830

Investments and Fair Value Meas

Investments and Fair Value Measurements	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Investments and Fair Value Measurements	Investments and Fair Value Measurements The Company's cash equivalents include investments with a remaining maturity date of three months or less . As of March 31, 2022 and December 31, 2021, all of its securities are classified as available-for-sale. The Company's total cash, cash equivalents and marketable securities as of March 31, 2022 and December 31, 2021 consisted of the following: As of March 31, As of December 31, 2022 2021 (in thousands) Cash and cash equivalents: Cash $ 118,014 $ 134,774 Money market funds 66,792 31,294 U.S. Treasury securities 60,988 — Total cash and cash equivalents $ 245,794 $ 166,068 Marketable securities: U.S. Treasury securities $ 235,623 $ 184,946 Corporate notes and bonds 23,734 11,327 Commercial paper 80,904 124,089 Asset-backed securities 21,438 21,576 Municipal securities 2,249 2,250 Foreign government and supranational securities 30,002 17,607 Total marketable securities, current (1) $ 393,950 $ 361,795 U.S. Treasury securities 122,556 239,528 Corporate notes and bonds 187,792 197,298 Asset-backed securities 81,871 77,142 Municipal securities 2,245 2,312 Foreign government and supranational securities — 12,631 Total marketable securities, non-current (2) $ 394,464 $ 528,911 Total marketable securities $ 788,414 $ 890,706 Total cash, cash equivalents and marketable securities $ 1,034,208 $ 1,056,774 (1) The Company classifies its marketable securities as current, where it intends to hold the securities for less than 12 months. (2) The Company classifies its marketable securities are non-current, where it intends to hold the securities for longer than 12 months. Available-for-Sale Investments The Company’s marketable securities are classified as available-for-sale as of the balance sheet date and are reported at fair value with unrealized gains and losses reported, net of tax, as a separate component of accumulated other comprehensive income (loss) in stockholders’ equity. The following table summarizes adjusted cost, gross unrealized gains and losses, and fair value related to available-for-sale securities classified as marketable securities as of March 31, 2022 and December 31, 2021: As of March 31, 2022 Amortized Gross Gross Fair (in thousands) U.S. Treasury securities $ 362,746 $ — $ (4,567) $ 358,179 Corporate notes and bonds 215,096 — (3,570) 211,526 Commercial paper 80,904 — — 80,904 Asset-backed securities 103,795 — (486) 103,309 Municipal securities 4,576 — (82) 4,494 Foreign government and supranational securities 30,221 — (219) 30,002 Total available-for-sale investments $ 797,338 $ — $ (8,924) $ 788,414 As of December 31, 2021 Amortized Gross Gross Fair (in thousands) U.S. Treasury securities $ 425,560 $ 1 $ (1,086) $ 424,475 Corporate notes and bonds 209,550 — (925) 208,625 Commercial paper 124,098 — (9) 124,089 Asset-backed securities 98,857 — (140) 98,717 Municipal securities 4,577 — (15) 4,562 Foreign government and supranational securities 30,306 — (68) 30,238 Total available-for-sale investments $ 892,948 $ 1 $ (2,243) $ 890,706 There were no material realized gains or losses from sales of marketable securities that were reclassified out of accumulated other comprehensive (loss) income into investment income during the three months ended March 31, 2022 and 2021. There were no securities in a continuous loss position for 12 months or longer as of March 31, 2022 and December 31, 2021. Investments are reviewed periodically to identify possible other-than-temporary impairments. No impairment loss has been recorded on the securities included in the tables above, as the Company believes that the decrease in fair value of these securities is temporary. Fair Value of Financial Instruments For certain of the Company's financial instruments, including cash held in banks, accounts receivable, and accounts payable, the carrying amounts approximate fair value due to their short maturities, and are therefore excluded from the fair value tables below. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. There is a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows: Level 1—Observable inputs such as quoted prices in active markets for identical assets or liabilities; Level 2—Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities; and Level 3—Unobservable inputs that are supported by little or no market activity, which require management judgment or estimation. The Company measures its cash equivalents, marketable securities, and restricted cash at fair value. The Company classifies its cash equivalents, marketable securities and restricted cash within Level 1 or Level 2 because the Company values these investments using quoted market prices or alternative pricing sources and models utilizing market observable inputs. The fair value of the Company's Level 1 financial assets is based on quoted market prices of the identical underlying security. The fair value of the Company's Level 2 financial assets is based on inputs that are directly or indirectly observable in the market, including the readily available pricing sources for the identical underlying security that may not be actively traded. Financial assets and liabilities measured and recorded at fair value on a recurring basis consisted of the following types of instruments: As of March 31, 2022 Level 1 Level 2 Level 3 Total (in thousands) Cash equivalents: Money market funds $ 66,792 $ — $ — $ 66,792 U.S. Treasury securities — 60,988 — 60,988 Total cash equivalents 66,792 60,988 — 127,780 Marketable securities: Corporate notes and bonds — 211,526 — 211,526 Commercial paper — 80,904 — 80,904 U.S. Treasury securities — 358,179 — 358,179 Municipal securities — 4,494 — 4,494 Asset-backed securities — 103,309 — 103,309 Foreign government and supranational securities — 30,002 — 30,002 Total marketable securities — 788,414 — 788,414 Restricted cash: Restricted cash, non-current 893 — — 893 Total restricted cash 893 — — 893 Total financial assets $ 67,685 $ 849,402 $ — $ 917,087 As of December 31, 2021 Level 1 Level 2 Level 3 Total (in thousands) Cash equivalents: Money market funds $ 31,294 $ — $ — $ 31,294 Total cash equivalents 31,294 — — 31,294 Marketable securities: U.S. Treasury securities — 424,475 — 424,475 Corporate notes and bonds — 208,625 — 208,625 Commercial paper — 124,089 — 124,089 Asset-backed securities — 98,717 — 98,717 Municipal securities — 4,562 — 4,562 Foreign government and supranational securities — 30,238 — 30,238 Total marketable securities — 890,706 — 890,706 Restricted cash: Restricted cash, non-current 893 — — 893 Total restricted cash 893 — — 893 Total financial assets $ 32,187 $ 890,706 $ — $ 922,893 The Company classifies its investments, which are comprised of corporate notes and bonds, commercial paper, U.S. treasury securities, foreign government and supranational securities and asset-backed securities within Level 2 of the fair value hierarchy because the fair value of these securities is priced by using inputs based on non-binding market consensus prices that are primarily corroborated by observable market data or quoted market prices for similar instruments. As of both March 31, 2022 and December 31, 2021, the Company had $0.9 million in restricted cash, consisting of letters of credit related to lease arrangements that are collateralized by restricted cash. This amount is classified as non-current in line with the remaining term of the lease and is included in other assets on the Company's Condensed Consolidated Balance Sheets. There were no transfers of assets and liabilities measured at fair value between Level 1 and Level 2, or between Level 2 and Level 3, during the three months ended March 31, 2022 and 2021.

Balance Sheet Information

Balance Sheet Information	3 Months Ended
	Mar. 31, 2022
Balance Sheet Related Disclosures [Abstract]
Balance Sheet Information	Balance Sheet Information Property and equipment, net Property and equipment, net consisted of the following: As of March 31, As of December 31, 2022 2021 (in thousands) Computer and networking equipment $ 217,448 $ 207,575 Leasehold improvements 5,099 4,631 Furniture and fixtures 1,310 1,606 Office equipment 757 654 Internal-use software 45,570 40,345 Property and equipment, gross $ 270,184 $ 254,811 Accumulated depreciation and amortization (95,634) (87,850) Property and equipment, net $ 174,550 $ 166,961 Depreciation on property and equipment for the three months ended March 31, 2022 and 2021 was approximately $9.9 million and $6.4 million, respectively. Included in these amounts was amortization expense for capitalized internal-use software costs of approximately $1.5 million and $0.9 million, respectively, for the three months ended March 31, 2022 and 2021. As of March 31, 2022 and December 31, 2021, the unamortized balance of capitalized internal-use software costs on the Company's Condensed Consolidated Balance Sheets was approximately $31.6 million and $27.9 million, respectively. The Company leases certain networking equipment from various third parties, through equipment finance leases. The Company's networking equipment assets as of March 31, 2022 and December 31, 2021, included a total of $85.3 million and $67.8 million acquired under finance lease agreements, respectively. These leases are capitalized in property and equipment, and the related amortization of assets under finance leases is included in depreciation and amortization expense. The accumulated depreciation of the associated networking equipment assets under finance leases totaled $17.1 million and $14.4 million as of March 31, 2022 and December 31, 2021, respectively. Other assets Other assets consisted of the following: As of March 31, As of December 31, 2022 2021 (in thousands) Deferred contract costs, net $ 26,061 $ 23,830 Restricted cash 893 893 Other assets 3,066 4,745 Total other assets $ 30,020 $ 29,468 Accrued expenses Accrued expenses consisted of the following: As of March 31, As of December 31, 2022 2021 (in thousands) Accrued compensation and related benefits $ 23,126 $ 13,543 Accrued colocation and bandwidth costs 10,236 10,205 Sales and use tax liabilities 8,525 8,070 Other accrued liabilities 8,015 4,294 Total accrued expenses $ 49,902 $ 36,112 Other Current Liabilities Other current liabilities consisted of the following: As of March 31, As of December 31, 2022 2021 (in thousands) Deferred revenue, current $ 28,455 $ 26,421 Accrued computer and networking equipment 7,408 18,081 Other current liabilities 706 605 Total other current liabilities $ 36,569 $ 45,107

Leases

Leases	3 Months Ended
	Mar. 31, 2022
Leases [Abstract]
Leases	Leases The Company has operating leases for corporate offices and data centers ("colocation leases"), and finance leases for networking equipment. The Company's leases have remaining lease terms ranging from 1 to 6 years, some of which include options to extend the leases. The Company also subleases a portion of its corporate office spaces. The Company's subleases have remaining lease terms of 2.5 years. Its sublease income was $0.3 million for both the three months ended March 31, 2022, and 2021. The Company's components of lease cost were as follows: Three months ended March 31, 2022 2021 (in thousands) Operating lease cost: Operating lease cost $ 6,802 $ 6,352 Variable lease cost 2,772 1,358 Total operating lease costs $ 9,574 $ 7,710 Finance lease cost: Amortization of assets under finance lease $ 3,263 $ 1,234 Interest 655 330 Total finance lease costs $ 3,918 $ 1,564 Other information related to leases was as follows: As of March 31, As of As of December 31, 2022 2021 Weighted Average Remaining Lease Term (in years): Operating leases 4.30 4.41 Finance leases 2.28 2.23 Weighted Average Discount Rate: Operating leases 5.20 % 5.20 % Finance leases 4.77 % 4.86 % Future minimum lease payments under non-cancellable leases as of March 31, 2022 were as follows: Operating Leases Finance Leases (in thousands) Remainder of 2022 $ 17,764 $ 22,405 2023 18,726 23,493 2024 15,815 12,132 2025 15,116 638 2026 14,994 — Thereafter 8,824 — Total future minimum lease payments $ 91,239 $ 58,668 Less: imputed interest (8,869) (3,035) Total liability $ 82,370 $ 55,633 As of March 31, 2022, the Company had undiscounted commitments of $11.1 million for operating leases that have not yet commenced, and therefore are not included in the right-of-use asset or operating lease liability. These operating leases will commence in 2022 with lease terms of 1 to 6 years.
Leases	Leases The Company has operating leases for corporate offices and data centers ("colocation leases"), and finance leases for networking equipment. The Company's leases have remaining lease terms ranging from 1 to 6 years, some of which include options to extend the leases. The Company also subleases a portion of its corporate office spaces. The Company's subleases have remaining lease terms of 2.5 years. Its sublease income was $0.3 million for both the three months ended March 31, 2022, and 2021. The Company's components of lease cost were as follows: Three months ended March 31, 2022 2021 (in thousands) Operating lease cost: Operating lease cost $ 6,802 $ 6,352 Variable lease cost 2,772 1,358 Total operating lease costs $ 9,574 $ 7,710 Finance lease cost: Amortization of assets under finance lease $ 3,263 $ 1,234 Interest 655 330 Total finance lease costs $ 3,918 $ 1,564 Other information related to leases was as follows: As of March 31, As of As of December 31, 2022 2021 Weighted Average Remaining Lease Term (in years): Operating leases 4.30 4.41 Finance leases 2.28 2.23 Weighted Average Discount Rate: Operating leases 5.20 % 5.20 % Finance leases 4.77 % 4.86 % Future minimum lease payments under non-cancellable leases as of March 31, 2022 were as follows: Operating Leases Finance Leases (in thousands) Remainder of 2022 $ 17,764 $ 22,405 2023 18,726 23,493 2024 15,815 12,132 2025 15,116 638 2026 14,994 — Thereafter 8,824 — Total future minimum lease payments $ 91,239 $ 58,668 Less: imputed interest (8,869) (3,035) Total liability $ 82,370 $ 55,633 As of March 31, 2022, the Company had undiscounted commitments of $11.1 million for operating leases that have not yet commenced, and therefore are not included in the right-of-use asset or operating lease liability. These operating leases will commence in 2022 with lease terms of 1 to 6 years.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	3 Months Ended
	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets The changes in the carrying amount of goodwill for the three months ended March 31, 2022 are as follows: Three months ended March 31, 2022 (in thousands) Balance as of December 31, 2021 $ 636,805 Goodwill acquired 775 Foreign currency translation and other adjustments (10) Balance as of March 31, 2022 $ 637,570 The Company did not record an impairment charge on goodwill during both the three months ended March 31, 2022 and 2021. As of March 31, 2022 and December 31, 2021, the Company's intangible assets consisted of the following: As of March 31, 2022 As of December 31, 2021 Gross carrying value Accumulated amortization Net carrying value Gross carrying value Accumulated amortization Net carrying value (in thousands) Intangible assets: Customer relationships $ 69,100 $ (12,957) $ 56,143 $ 69,100 $ (10,797) $ 58,303 Developed technology 49,500 (14,850) 34,650 49,500 (12,375) 37,125 Trade names 3,300 (1,650) 1,650 3,300 (1,375) 1,925 Internet protocol addresses 4,984 (1,097) 3,887 4,984 (973) 4,011 Backlog 2,200 (1,650) 550 2,200 (1,375) 825 In-process research and development ("IPR&D") 368 — 368 368 — 368 Domain name 39 — 39 39 — 39 Total intangible assets $ 129,491 $ (32,204) $ 97,287 $ 129,491 $ (26,895) $ 102,596 The Company's customer relationships, developed technology, trade names, internet protocol addresses, backlog and domain name intangible assets are subject to amortization. IPR&D intangible asset is indefinite-lived and not subject to amortization. Amortization expense was $5.3 million and $5.4 million for the three months ended March 31, 2022 and 2021, respectively. The Company did not purchase any intangible assets during the three months ended March 31, 2022 and 2021. The Company did not record any impairment charges on its intangible assets during both the three months ended March 31, 2022 and 2021. The expected amortization expense of intangible assets subject to amortization as of March 31, 2022 is as follows: As of March 31, 2022 (in thousands) Remainder of 2022 $ 15,672 2023 19,874 2024 19,040 2025 16,561 2026 9,065 Thereafter 16,707 Total $ 96,919

Debt Instruments

Debt Instruments	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Debt Instruments	Debt Instruments Senior Secured Credit Facilities Agreement On February 16, 2021, the Company entered into a Senior Secured Credit Facilities Agreement ("Credit Agreement") with Silicon Valley Bank for an aggregate commitment amount of $100.0 million with a maturity date of February 16, 2024. The Company recorded $0.6 million of debt issuance costs associated with the Credit Agreement in other assets on the Company's condensed consolidated balance sheet. The Credit Agreement bears interest at a rate per annum equal to the sum of LIBOR for the applicable interest period plus 1.75% - 2.00%, depending on the average daily outstanding balance of all loans and letters of credit under the Credit Agreement. Interest payments on outstanding borrowings are due on the last day of each interest period. The Credit Agreement has a commitment fee on the unused portion of the borrowing commitment, which is payable on the last day of each calendar quarter at a rate per annum of 0.20% - 0.25% depending on the average daily outstanding balance of all loans and letters of credit under the Credit Agreement. In addition, the Company's Credit Agreement contains a financial covenant that requires the Company to maintain a consolidated adjusted quick ratio of at least 1:25 to 1:00 tested on a quarterly basis as well as a springing revenue growth covenant for certain periods if the Company's consolidated adjusted quick ratio falls below 1.75 to 1:00 on the last day of any fiscal quarter. The Credit Agreement requires the Company to comply with these affirmative and negative covenants and the Company was in compliance with all covenants as of March 31, 2022. During the three months ended March 31, 2022 and 2021, no amounts were drawn down on the Company's Credit Agreement. As of March 31, 2022 and December 31, 2021, no amounts were outstanding under the Credit Agreement. Convertible Senior Notes On March 5, 2021, the Company issued approximately $948.8 million aggregate principal amount of the Company's 0% convertible senior notes due 2026 (the “Notes”), including the exercise in full by the initial purchasers of their option to purchase up to an additional approximately $123.8 million principal amount of the Notes. The Notes were issued in a private placement to qualified institutional buyers pursuant to Rule144A under the Securities Act. The Notes will mature on March 15, 2026, unless earlier converted, redeemed or repurchased. The net proceeds from the issuance of the Notes were approximately $930.0 million after deducting the initial purchasers’ discounts and transaction costs. The Company may not redeem the Notes prior to March 20, 2024. On or after March 20, 2024, the Company may redeem for cash, all or any portion of the Notes, at the Company's option, at a redemption price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid special interest, if any, to, but excluding, the redemption date, if the last reported sale price of the Company's common stock has been at least 130% of the conversion price for the Notes then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period (including the last trading day of such period) ending on, and including, the trading day immediately preceding the date on which the Company provides notice of redemption. No sinking fund is provided for the Notes. Holders of the Notes may convert their notes at their option at any time prior to the close of business on the business day immediately preceding December 15, 2025, only under the following circumstances: (i) during any calendar quarter commencing after the calendar quarter ending on June 30, 2021 (and only during such calendar quarter), if the last reported sale price of the Company's Class A common stock for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the conversion price for the Notes on each applicable trading day; (ii) during the five business day period after any ten consecutive trading day period (the “Measurement Period”) in which the trading price, as defined in the indenture agreement governing the Note filed with the Company's Current Report on Form 8-K filed with the Securities and Exchange Commission on March 5, 2021, per $1,000 principal amount of notes for each trading day of the Measurement Period was less than 98% of the product of the last reported sale price of the Company's Class A common stock and the conversion rate on each such trading day; (iii) if the Company calls such Notes for redemption, at any time prior to the close of business on the scheduled trading day immediately preceding the applicable redemption date, but only with respect to the Notes called (or deemed called) for redemption; or (iv) upon the occurrence of specified corporate events. On or after December 15, 2025 until the close of business on the second scheduled trading day immediately preceding the maturity date, holders may convert all or any portion of their notes at any time, regardless of the foregoing circumstances. Upon conversion, the Company may satisfy its conversion obligation by paying or delivering, as the case may be, cash, shares of its Class A common stock or a combination of cash and shares of its Class A common stock, at the Company's election. The initial conversion rate is 9.7272 shares of Class A common stock per $1,000 principal amount of Notes, equivalent to an initial conversion price of approximately $102.80 per share of Class A common stock. The conversion rate is subject to adjustment as described in the indenture governing the Notes but will not be adjusted for any accrued and unpaid special interest. In addition, following certain corporate events that occur prior to the maturity date of the Notes or if the Company delivers a notice of redemption in respect of the Notes, the Company will, in certain circumstances, increase the conversion rate of the Notes for a holder who elects to convert its Notes, in connection with such a corporate event or convert its Notes called (or deemed called) for redemption during the related redemption period, as the case may be. The indenture includes customary covenants and sets forth certain events of default after which the Notes may be declared immediately due and payable and sets forth certain types of bankruptcy or insolvency events of default involving the Company after which the Notes become automatically due and payable. If the Company undergoes a fundamental change, as defined in the indenture agreement governing the Notes, then subject to certain conditions and except as described in the indenture governing the Notes, holders may require the Company to repurchase for cash all or any portion of their Notes at a fundamental change repurchase price equal to 100% of the principal amount of the Notes to be repurchased, plus accrued and unpaid special interest, if any, to, but excluding, the fundamental change repurchase date. The Company evaluated the terms of its debt and concluded that the instrument does not require separation and that there were no other derivatives that required separation. As such, the Company has combined these features with the host contract and the Company accounts for its convertible debt as a single liability in long-term debt on its condensed consolidated balance sheet. The initial purchasers' discounts and transaction costs of $18.6 million incurred related to the issuance of the Notes were classified as liability and represents the difference between the principal amount of the Notes and the liability component (the “debt discount”), which is amortized to interest expense using the effective interest method over the term of the Notes. As of March 31, 2022, the conversion conditions have not been met and therefore the Notes are not yet convertible. The following table reflects the carrying values of the debt agreements as of March 31, 2022: As of March 31, 2022 As of December 31, 2021 (in thousands) (in thousands) Convertible Senior notes (effective interest rate of 0.40%) Principal amount $ 948,750 $ 948,750 Less: unamortized debt issuance costs (14,629) (15,545) Less: current portion of long-term debt — — Long-term debt, less current portion $ 934,121 $ 933,205

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Purchase Commitments As of March 31, 2022, the Company had long-term commitments for cost of revenue related agreements (i.e., bandwidth usage, peering and other managed services with various networks, internet service providers ("ISPs") and other third-party vendors). The Company also has long-term commitments for various non-cancelable software as a service ("SaaS") agreements. Aside from the Company's finance and operating lease commitments, including its colocation operating commitments, which have been disclosed in Note 6—Leases, the minimum future commitments related to its purchase commitments as of March 31, 2022 were as follows: Cost of Revenue Commitments SaaS Agreements Total Purchase Commitments (in thousands) Remainder of 2022 $ 28,717 $ 11,143 $ 39,860 2023 13,208 16,296 29,504 2024 9,381 1,815 11,196 2025 846 393 1,239 2026 250 — 250 Thereafter — — — Total $ 52,402 $ 29,647 $ 82,049 Sales and Use Tax Reserve The Company conducts its operations in many tax jurisdictions throughout the United States. In many of these jurisdictions, non-income-based taxes, such as sales and use and telecommunications taxes are assessed on the Company's operations. The Company is subject to indirect taxes, and may be subject to certain other taxes, in some of these jurisdictions. Historically, the Company has not billed or collected these taxes and, in accordance with U.S. GAAP, the Company has recorded a provision for its tax exposure in these jurisdictions when it is both probable that a liability has been incurred and the amount of the exposure can be reasonably estimated. As a result, the Company has recorded a liability of $7.7 million and $7.5 million as of March 31, 2022 and December 31, 2021, respectively. These estimates are based on several key assumptions, including the taxability of the Company's products, the jurisdictions in which the Company believe it has nexus and the sourcing of revenues to those jurisdictions. In the event these jurisdictions challenge the Company's assumptions and analysis, its actual exposure could differ materially from its current estimates. Legal Matters From time to time, the Company has been and may be subject to legal proceedings and claims. Such matters are subject to many uncertainties and outcomes are not predictable with assurance. The Company accrues for contingencies when it believes that a loss is probable and that the Company can reasonably estimate the amount of any such loss. The Company is not presently a party to any legal proceedings that, if determined adversely to it, would individually or taken together have a material effect on the Company's business, results of operations, financial condition, or cash flows. As of March 31, 2022, the Company has not recorded any significant accruals for loss contingencies associated with such legal proceedings, determined that an unfavorable outcome is probable or reasonably possible, or determined that the amount or range of any possible loss is reasonably estimable. Indemnification The Company enters into standard indemnification agreements in the ordinary course of business. Pursuant to these agreements, the Company agrees to indemnify, hold harmless, and reimburse the indemnified party for losses suffered or incurred by the indemnified party, generally the Company's business partners or customers, in connection with its provision of its services. Generally, these obligations are limited to claims relating to infringement of a patent, copyright, or other intellectual property right, breach of the Company's security or data protection obligations, or its negligence, willful misconduct, or violation of law. Subject to applicable statutes of limitation, the term of these indemnification agreements is generally for the duration of the agreement. The maximum potential amount of future payments the Company could be required to make under these indemnification agreements is unlimited; however, the Company carries insurance that covers certain third-party claims relating to the Company's services and could limit its exposure in that respect. The Company have agreed to indemnify each of its officers and directors during his or her lifetime for certain events or occurrences that happen by reason of the fact that the officer or director is, was, or has agreed to serve as an officer or director of the Company. The Company have director and officer insurance policies that may limit its exposure and may enable us to recover a portion of certain future amounts paid.

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2022
Stockholders' Equity Note [Abstract]
Stockholders' Equity	Stockholders' Equity Equity Incentive Plans The Company maintains four equity incentive plans: the 2019 Equity Incentive Plan (the "2019 Plan"), 2011 Equity Incentive Plan ("2011 Plan"), Employee Stock Purchase Plan ("ESPP") and the Signal Sciences Corp. 2014 Stock Option and Grant Plan, as amended (the “Signal Plan”). The 2019 Plan became effective in May 2019 and replaced the 2011 Plan. The Company's 2019 Plan provides for the issuance of incentive stock options, non-statutory stock options, stock appreciation rights, restricted stock units ("RSUs"), restricted stock awards, performance-based stock awards ("PSUs"), and other forms of equity compensation, which are collectively referred to as stock awards to its employees, directors, and consultants. As of March 31, 2022 and December 31, 2021, there were 20.6 million and 15.9 million Class A common stock available for issuance under the 2019 Plan, respectively. As of March 31, 2022 and December 31, 2021, 120.8 million and 118.8 million shares of Class A common stock were issued and outstanding, respectively. Stock Options Options granted under the 2011 Plan and 2019 Plan are exercisable for Class A common stock and generally expire within 10 years from the date of grant and generally vest over four years, at the rate of 25% on the first anniversary of the date of grant and ratably on a monthly basis over the remaining 36-month period thereafter based on continued service. Due to the Conversion on July 12, 2021, options granted under the 2011 Plan are now exercisable for Class A common stock. Forfeitures are recognized as they occur. The following table summarizes stock option activity during the three months ended March 31, 2022: Shares Weighted- Weighted- Aggregate (in thousands) (in years) (in thousands) Outstanding at December 31, 2021 4,369 $ 5.07 5.10 $ 132,721 Granted — — — Exercised (1,351) 2.26 — Cancelled/forfeited (68) 10.81 — Outstanding at March 31, 2022 2,950 $ 6.23 5.40 $ 33,223 Vested and exercisable at March 31, 2022 2,430 $ 5.42 5.10 $ 29,274 During the three months ended March 31, 2022 and 2021, the Company recorded stock-based compensation expense from stock options of approximately $1.7 million and $3.7 million, respectively. Restricted Stock Units ("RSUs") The Company began granting RSUs under the 2019 Plan during the fiscal year ended December 31, 2019. The fair value of RSUs is based on the grant date fair value and is expensed on a straight-line basis over the applicable vesting period. RSUs granted to new hires typically vest over four years, at the rate of 25% on the first anniversary of the vest date and ratably on a quarterly basis over the remaining 36-month period thereafter. RSUs granted to existing employees typically vest in equal quarterly installments over a four year service period. All vesting is contingent on continued service. Forfeitures are recognized as they occur. The following table summarizes RSU activity during the three months ended March 31, 2022: Number of Shares Weighted-Average (in thousands) Unvested RSUs as of December 31, 2021 5,285 $ 42.80 Granted 1,285 24.72 Vested (577) 40.95 Cancelled/forfeited (316) 46.04 Unvested RSUs as of March 31, 2022 5,677 $ 38.73 During the three months ended March 31, 2022 and 2021, the Company recognized stock-based compensation expense related to RSUs of $21.8 million and $13.2 million, respectively. Stock Subject to Revest ("Revest Shares") In conjunction with a prior acquisition in fiscal 2020, a restriction was placed on 896,499 shares belonging to the three co-founders which are subject to revesting on a quarterly basis over a 2 year period. The following table summarizes the activity related to the revest shares during the three months ended March 31, 2022: Number of Shares Weighted-Average Grant Date Fair Value Per Share (in thousands) Unvested revest shares as of December 31, 2021 336 $ 97.84 Granted — — Modification of shares subject to revest (224) 97.84 Vested (38) 97.84 Cancelled/forfeited — — Unvested revest shares as of March 31, 2022 74 $ 97.84 For the three months ended March 31, 2022 and 2021, the Company recognized stock-based compensation expense related to revest shares of $12.9 million and $11.0 million, respectively. On January 24, 2022, the Company entered into an agreement with certain holders of restricted stock, who had sold their awards in advance of its vesting conditions, in order to return the proceeds associated with the remaining 224,124 unvested shares as of December 31, 2021. These stockholders are eligible to continue vesting under the original agreements as long as they have continued service as either an employee or consultant. On January 31, 2022, the Company received $10.7 million from these stockholders related to the settlement of the matter, which the Company classified as unrestricted cash on its condensed consolidated balance sheets. This amount will similarly be returned to the holders in accordance with the vesting under the original agreements. Correspondingly, the Company reclassified the award from equity to liability as the award will now be settled for the fixed monetary amount received, rather than a release of the restrictions on shares. In February, one of the stockholders had a change in employment status and the Company accelerated the remaining stock based compensation associated with his awards on his last day of service as an employee as his services under the modified arrangement were not substantive. For the three months ended March 31, 2022, the Company recognized stock-based compensation expense of $5.6 million associated with the modification of these awards. Performance-Based Restricted Stock Units ("PSUs") Performance stock awards for executive officers In February 2021, pursuant to the Company’s 2019 Equity Incentive Plan, the Company granted shares of PSUs to certain employees of the Company, which are to vest based on the level of achievement of certain Company and individual targets related to the Company's operating plan for the fiscal year 2021 ("2021 operating plan"). In February, 2022, the Company concluded that the minimum target performance to be eligible for vesting under the 2021 Operating Plan was not attained, and as such, none of the 2021 PSUs were eligible to vest and the awards were cancelled. In February 2022, pursuant to the Company's 2019 Equity Incentive Plan, the company granted certain employees shares of PSUs, which are to vest based on the level of achievement of certain Company-wide targets related to the Company's operating plan for the fiscal year 2022. The Company has accounted for these awards as equity-based awards and will recognize stock-based compensation expense over the employees' requisite service period. As of March 31, 2022, the Company had recognized $0.5 million of stock-based compensation expense associated with these awards. For the three months ended March 31, 2021, the Company recognized $2.1 million stock-based compensation expense related to the PSUs based on its expected attainment at the time. 2022 Bonus Program On February 11, 2022, the Compensation Committee approved a company-wide bonus program ("2022 Bonus Program"), including the performance targets, for the current fiscal year to most of the Company's employees on active payroll in fiscal year 2022. Shares awarded under the program will be in the Company's RSUs ("Payout") and will be based on the final attainment of Company-wide performance targets which are tied to its operating plan for fiscal 2022. Payout will vary linearly between 50%, 100% and 150% based on the achievement of these targets. Employees are required to be employed through the Payout date to earn the awards. In addition, certain employees were granted dollar bonus amounts, which are to be paid out RSUs. The number of RSUs released will be determined using the average trading price of the Company's stock in the month prior to the Board's final certification of the Company's performance attainment and awards to be issued to each employee. The Company has accounted for these awards as liability-based awards, since the monetary value of the obligation associated with the award is based predominantly on a fixed monetary amount known at inception, and it has an unconditional obligation that it must or may settle by issuing a variable number of its equity shares. The Company will recognize stock-based compensation expense over the employees requisite service period, based on the expected attainment of the Company-wide targets. As of March 31, 2022, the Company had accrued for $3.3 million associated with these awards. Employee Share Purchase Program ("ESPP") The ESPP allows eligible employees to purchase shares of the Company's common stock through payroll deductions of up to 15% of their eligible compensation. The ESPP provides for six-month offering periods, commencing in May and November of each year. At the end of each offering period employees are able to purchase shares at 85% of the lower of the fair market value of the Company's common stock on the first trading day of the offering period or on the date of purchase. During the three months ended March 31, 2022 and 2021, the Company withheld $2.4 million and $3.4 million in contributions from employees, respectively, and recognized $1.1 million and $1.2 million in stock-based compensation expense related to the ESPP, respectively. No common stock was issued under the ESPP in the three months ended March 31, 2022, nor in the three months ended March 31, 2021. Stock-based Compensation Expense The following table summarizes the components of total stock-based compensation expense included in the accompanying Condensed Consolidated Statements of Operations: Three months ended March 31, 2022 2021 (in thousands) Cost of revenue $ 2,946 $ 1,186 Research and development 18,589 7,958 Sales and marketing 10,094 5,008 General and administrative 8,393 16,686 Total stock-based compensation expense $ 40,022 $ 30,838

Net Loss Per Share Attributable

Net Loss Per Share Attributable to Common Stockholders	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Net Loss Per Share Attributable to Common Stockholders	Net Loss Per Share Attributable to Common Stockholders Basic net loss per share is computed by dividing net loss by basic weighted-average shares outstanding during the period. Diluted net loss per share is computed by dividing net loss by diluted weighted-average shares outstanding, including potentially dilutive securities. On July 12, 2021, the shares of Class B common stock that converted to Class A common stock were retired and will not be reissued by the Company. Prior to that date, the Company computed net loss per share using the two-class method required for multiple classes of common stock and participating securities. The rights of the holders of the Class A common stock and Class B common stock are identical, except with respect to voting and conversion. Accordingly, the Class A common stock and Class B common stock share equally in the Company's net losses. The following table presents the computation of basic and diluted net loss per share of common stock (in millions, except per share data): Three months ended March 31, 2022 2021 Class A Class A Class B (in thousands, except per share amounts) Net loss attributable to common stockholders $ (64,264) $ (46,184) $ (4,499) Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted 119,673 104,002 10,132 Net loss per share attributable to common stockholders, basic and diluted $ (0.54) $ (0.44) $ (0.44) The following securities were excluded from the computation of diluted net loss per share of common stock for the periods presented as their effect would have been antidilutive (in millions): Number of Shares As of March 31, 2022 2021 (in thousands) Stock options 2,950 6,280 RSUs 5,677 4,381 PSUs 218 128 Revest shares 74 672 Early exercised stock options — 77 Shares issuable pursuant to the ESPP 329 92 Convertible senior notes (if-converted) 9,229 9,229 Total 18,477 20,859 The dilution table above excludes RSUs to be awarded under the Company's 2022 Bonus Program, which is expected to have an impact on its outstanding awards in the first quarter of 2023. Refer to Note 10 — Stockholders' Equity for further details on the Company's 2022 Bonus Program. Accumulated Other Comprehensive (Loss) Income For the three months ended March 31 2022 and 2021, components of accumulated other comprehensive (loss) income, net of taxes, were as follows (in thousands): Unrealized Loss on Available-for-Sale Securities Foreign Currency Translation Adjustment Total Balance, December 31, 2021 (2,242) (385) (2,627) Foreign currency translation adjustment — (187) (187) Unrealized loss on available-for-sale securities (6,682) — (6,682) Balance, March 31, 2022 (8,924) (572) (9,496) Unrealized Gain on Available-for-Sale Securities Foreign Currency Translation Adjustment Total Balance, December 31, 2020 105 (99) 6 Foreign currency translation adjustment — (65) (65) Unrealized loss on available-for-sale securities (78) — (78) Balance, March 31, 2021 27 (164) (137)

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company's provision for income taxes for interim periods is determined using an estimate of its annual effective tax rate, adjusted for discrete items, if any, that arise during the period. Each quarter, the Company updates its estimate of the annual effective tax rate, and if the estimated annual effective tax rate changes, the Company makes a cumulative adjustment in such period. In the three months ended March 31, 2022 and 2021, the Company recorded income tax expense of $0.04 million and $0.2 million, respectively. The Company continues to maintain a full valuation allowance on the Company's U.S. Federal and state net deferred tax assets. The tax expense for the three months ended March 31, 2022 and 2021 was primarily due to foreign tax expense.

Information About Revenue and G

Information About Revenue and Geographic Areas	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Information About Revenue and Geographic Areas	Information About Revenue and Geographic Areas The Company has determined that it operates under one business unit with no segment managers who are held accountable for operations, operating results, or plans for levels or components below the consolidated unit level. Accordingly, the Company has determined that it has a single reporting segment and operating unit structure. Revenue Revenue by geography is based on the billing address of the customer. Refer to Note 3, "Revenue" for more information on net revenue by geographic region. Long-Lived Assets The Company’s property and equipment, net and right-of-use assets, by geographic area were as follows: As of March 31, As of December 31, 2022 2021 (in thousands) United States $ 181,128 $ 177,990 All other countries 56,877 58,602 Total long-lived assets $ 238,005 $ 236,592

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Basis of Presentation and Consolidation	Basis of Presentation and Consolidation The accompanying condensed consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles (“GAAP”), consistent in all material respects with those applied in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2021, filed with the Securities and Exchange Commission (“SEC”) on March 1, 2022. The Company's condensed consolidated financial statements include its accounts and its wholly owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation. The Company's condensed consolidated financial statements are unaudited but include all adjustments of a normal recurring nature necessary for a fair presentation of its quarterly results. The Company's condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and related notes in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2021.
Use of Estimates	Use of Estimates The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates, judgements and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. The Company bases its estimates on historical experience and also on assumptions that it believes are reasonable. Due to the Coronavirus (“COVID-19”) pandemic, there has been uncertainty and disruption in the global economy and financial markets. The Company is not aware of any specific event or circumstance that would require an update to its estimates or judgments or a revision of the carrying value of its assets or liabilities as of March 31, 2022. These estimates may change, as new events occur and additional information is obtained, as well as other factors related to COVID-19 that could result in material impacts to the Company's consolidated financial statements in future reporting periods.
Recently Adopted and Issued Accounting Pronouncements	Recently Adopted and Issued Accounting Pronouncements The Company has not adopted any new accounting pronouncements in the three months ended March 31, 2022. Other recently issued accounting pronouncements are not expected to have a material impact on its condensed consolidated financial statements.
Concentrations of Credit Risk	Concentrations of Credit Risk Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash, cash equivalents, marketable securities and accounts receivable. The Company's cash, cash equivalents, and marketable securities primarily consisted of bank deposits, money market funds, investment-grade commercial paper, corporate notes and bonds, U.S. treasury securities, municipal securities, foreign government and supranational securities and asset-backed securities held at major financial institutions. The primary focus of its investment strategy is to preserve capital and meet liquidity requirements. The Company's investment policy limits the amount of credit exposure with any one financial institution or commercial issuer.
Revenue recognition	Revenue by geography is based on the billing address of the customer. Aside from the United States, no other single country accounted for more than 10% of revenue for both the three months ended March 31, 2022 and March 31, 2021.
Fair value of financial instruments	Fair Value of Financial Instruments For certain of the Company's financial instruments, including cash held in banks, accounts receivable, and accounts payable, the carrying amounts approximate fair value due to their short maturities, and are therefore excluded from the fair value tables below. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. There is a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows: Level 1—Observable inputs such as quoted prices in active markets for identical assets or liabilities; Level 2—Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities; and Level 3—Unobservable inputs that are supported by little or no market activity, which require management judgment or estimation. The Company measures its cash equivalents, marketable securities, and restricted cash at fair value. The Company classifies its cash equivalents, marketable securities and restricted cash within Level 1 or Level 2 because the Company values these investments using quoted market prices or alternative pricing sources and models utilizing market observable inputs. The fair value of the Company's Level 1 financial assets is based on quoted market prices of the identical underlying security. The fair value of the Company's Level 2 financial assets is based on inputs that are directly or indirectly observable in the market, including the readily available pricing sources for the identical underlying security that may not be actively traded.

Revenue (Tables)

Revenue (Tables)	3 Months Ended
	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
Revenue by Geographic Area	The following table presents the Company's net revenue by geographic region: Three months ended March 31, 2022 2021 (in thousands) United States $ 75,614 $ 62,734 Asia Pacific 11,720 9,154 Europe 9,353 9,640 All other 5,695 3,324 Total revenue $ 102,382 $ 84,852
Revenue by Customer Type	The following table presents its net revenue for enterprise and non-enterprise customers: Three months ended March 31, 2022 2021 (in thousands) Enterprise customers $ 91,101 $ 75,465 Non-enterprise customers 11,281 9,387 Total revenue $ 102,382 $ 84,852
Contract Assets and Liabilities	The following table presents the Company's contract assets and contract liabilities as of March 31, 2022 and as of December 31, 2021: As of March 31, 2022 As of December 31, 2021 (in thousands) Contract assets $ 56 $ 89 Contract liabilities $ 30,660 $ 28,907 The Company's payment terms and conditions vary by contract type. Payment terms on invoiced amounts are at a weighted average of 40 days. The following table presents the revenue recognized during the three months ended March 31, 2022 and 2021 from amounts included in the contract liability at the beginning of the period: Three months ended March 31, 2022 2021 (in thousands) Revenue recognized in the period from amounts included in contract liability at the beginning of the period $ 9,238 $ 5,903
Costs to Obtain Contracts	As of March 31, 2022 and December 31, 2021, the Company's costs to obtain contracts were as follows: As of March 31, 2022 As of December 31, 2021 (in thousands) Deferred contract costs, net $ 26,061 $ 23,830

Investments and Fair Value Me_2

Investments and Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Schedule of Cash, Cash Equivalents, and Marketable Securities	The Company's total cash, cash equivalents and marketable securities as of March 31, 2022 and December 31, 2021 consisted of the following: As of March 31, As of December 31, 2022 2021 (in thousands) Cash and cash equivalents: Cash $ 118,014 $ 134,774 Money market funds 66,792 31,294 U.S. Treasury securities 60,988 — Total cash and cash equivalents $ 245,794 $ 166,068 Marketable securities: U.S. Treasury securities $ 235,623 $ 184,946 Corporate notes and bonds 23,734 11,327 Commercial paper 80,904 124,089 Asset-backed securities 21,438 21,576 Municipal securities 2,249 2,250 Foreign government and supranational securities 30,002 17,607 Total marketable securities, current (1) $ 393,950 $ 361,795 U.S. Treasury securities 122,556 239,528 Corporate notes and bonds 187,792 197,298 Asset-backed securities 81,871 77,142 Municipal securities 2,245 2,312 Foreign government and supranational securities — 12,631 Total marketable securities, non-current (2) $ 394,464 $ 528,911 Total marketable securities $ 788,414 $ 890,706 Total cash, cash equivalents and marketable securities $ 1,034,208 $ 1,056,774 (1) The Company classifies its marketable securities as current, where it intends to hold the securities for less than 12 months. (2) The Company classifies its marketable securities are non-current, where it intends to hold the securities for longer than 12 months.
Schedule of Available-For-Sale Investments	The following table summarizes adjusted cost, gross unrealized gains and losses, and fair value related to available-for-sale securities classified as marketable securities as of March 31, 2022 and December 31, 2021: As of March 31, 2022 Amortized Gross Gross Fair (in thousands) U.S. Treasury securities $ 362,746 $ — $ (4,567) $ 358,179 Corporate notes and bonds 215,096 — (3,570) 211,526 Commercial paper 80,904 — — 80,904 Asset-backed securities 103,795 — (486) 103,309 Municipal securities 4,576 — (82) 4,494 Foreign government and supranational securities 30,221 — (219) 30,002 Total available-for-sale investments $ 797,338 $ — $ (8,924) $ 788,414 As of December 31, 2021 Amortized Gross Gross Fair (in thousands) U.S. Treasury securities $ 425,560 $ 1 $ (1,086) $ 424,475 Corporate notes and bonds 209,550 — (925) 208,625 Commercial paper 124,098 — (9) 124,089 Asset-backed securities 98,857 — (140) 98,717 Municipal securities 4,577 — (15) 4,562 Foreign government and supranational securities 30,306 — (68) 30,238 Total available-for-sale investments $ 892,948 $ 1 $ (2,243) $ 890,706
Financial Assets and Liabilities Measured and Recorded at Fair Value on a Recurring Basis	Financial assets and liabilities measured and recorded at fair value on a recurring basis consisted of the following types of instruments: As of March 31, 2022 Level 1 Level 2 Level 3 Total (in thousands) Cash equivalents: Money market funds $ 66,792 $ — $ — $ 66,792 U.S. Treasury securities — 60,988 — 60,988 Total cash equivalents 66,792 60,988 — 127,780 Marketable securities: Corporate notes and bonds — 211,526 — 211,526 Commercial paper — 80,904 — 80,904 U.S. Treasury securities — 358,179 — 358,179 Municipal securities — 4,494 — 4,494 Asset-backed securities — 103,309 — 103,309 Foreign government and supranational securities — 30,002 — 30,002 Total marketable securities — 788,414 — 788,414 Restricted cash: Restricted cash, non-current 893 — — 893 Total restricted cash 893 — — 893 Total financial assets $ 67,685 $ 849,402 $ — $ 917,087 As of December 31, 2021 Level 1 Level 2 Level 3 Total (in thousands) Cash equivalents: Money market funds $ 31,294 $ — $ — $ 31,294 Total cash equivalents 31,294 — — 31,294 Marketable securities: U.S. Treasury securities — 424,475 — 424,475 Corporate notes and bonds — 208,625 — 208,625 Commercial paper — 124,089 — 124,089 Asset-backed securities — 98,717 — 98,717 Municipal securities — 4,562 — 4,562 Foreign government and supranational securities — 30,238 — 30,238 Total marketable securities — 890,706 — 890,706 Restricted cash: Restricted cash, non-current 893 — — 893 Total restricted cash 893 — — 893 Total financial assets $ 32,187 $ 890,706 $ — $ 922,893

Balance Sheet Information (Tabl

Balance Sheet Information (Tables)	3 Months Ended
	Mar. 31, 2022
Balance Sheet Related Disclosures [Abstract]
Schedule of Property and Equipment, Net	Property and equipment, net consisted of the following: As of March 31, As of December 31, 2022 2021 (in thousands) Computer and networking equipment $ 217,448 $ 207,575 Leasehold improvements 5,099 4,631 Furniture and fixtures 1,310 1,606 Office equipment 757 654 Internal-use software 45,570 40,345 Property and equipment, gross $ 270,184 $ 254,811 Accumulated depreciation and amortization (95,634) (87,850) Property and equipment, net $ 174,550 $ 166,961
Schedule of Other Assets	Other assets consisted of the following: As of March 31, As of December 31, 2022 2021 (in thousands) Deferred contract costs, net $ 26,061 $ 23,830 Restricted cash 893 893 Other assets 3,066 4,745 Total other assets $ 30,020 $ 29,468
Schedule of Accrued Expenses	Accrued expenses consisted of the following: As of March 31, As of December 31, 2022 2021 (in thousands) Accrued compensation and related benefits $ 23,126 $ 13,543 Accrued colocation and bandwidth costs 10,236 10,205 Sales and use tax liabilities 8,525 8,070 Other accrued liabilities 8,015 4,294 Total accrued expenses $ 49,902 $ 36,112
Schedule of Other Current Liabilities	Other current liabilities consisted of the following: As of March 31, As of December 31, 2022 2021 (in thousands) Deferred revenue, current $ 28,455 $ 26,421 Accrued computer and networking equipment 7,408 18,081 Other current liabilities 706 605 Total other current liabilities $ 36,569 $ 45,107

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2022
Leases [Abstract]
Schedule of Lease Costs & Other Information	The Company's components of lease cost were as follows: Three months ended March 31, 2022 2021 (in thousands) Operating lease cost: Operating lease cost $ 6,802 $ 6,352 Variable lease cost 2,772 1,358 Total operating lease costs $ 9,574 $ 7,710 Finance lease cost: Amortization of assets under finance lease $ 3,263 $ 1,234 Interest 655 330 Total finance lease costs $ 3,918 $ 1,564 Other information related to leases was as follows: As of March 31, As of As of December 31, 2022 2021 Weighted Average Remaining Lease Term (in years): Operating leases 4.30 4.41 Finance leases 2.28 2.23 Weighted Average Discount Rate: Operating leases 5.20 % 5.20 % Finance leases 4.77 % 4.86 %
Schedule of Operating Lease Maturities	Future minimum lease payments under non-cancellable leases as of March 31, 2022 were as follows: Operating Leases Finance Leases (in thousands) Remainder of 2022 $ 17,764 $ 22,405 2023 18,726 23,493 2024 15,815 12,132 2025 15,116 638 2026 14,994 — Thereafter 8,824 — Total future minimum lease payments $ 91,239 $ 58,668 Less: imputed interest (8,869) (3,035) Total liability $ 82,370 $ 55,633
Schedule of Finance Lease Maturity	Future minimum lease payments under non-cancellable leases as of March 31, 2022 were as follows: Operating Leases Finance Leases (in thousands) Remainder of 2022 $ 17,764 $ 22,405 2023 18,726 23,493 2024 15,815 12,132 2025 15,116 638 2026 14,994 — Thereafter 8,824 — Total future minimum lease payments $ 91,239 $ 58,668 Less: imputed interest (8,869) (3,035) Total liability $ 82,370 $ 55,633

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Changes in the Carrying Amount of Goodwill	The changes in the carrying amount of goodwill for the three months ended March 31, 2022 are as follows: Three months ended March 31, 2022 (in thousands) Balance as of December 31, 2021 $ 636,805 Goodwill acquired 775 Foreign currency translation and other adjustments (10) Balance as of March 31, 2022 $ 637,570
Schedule of Intangible Assets	As of March 31, 2022 and December 31, 2021, the Company's intangible assets consisted of the following: As of March 31, 2022 As of December 31, 2021 Gross carrying value Accumulated amortization Net carrying value Gross carrying value Accumulated amortization Net carrying value (in thousands) Intangible assets: Customer relationships $ 69,100 $ (12,957) $ 56,143 $ 69,100 $ (10,797) $ 58,303 Developed technology 49,500 (14,850) 34,650 49,500 (12,375) 37,125 Trade names 3,300 (1,650) 1,650 3,300 (1,375) 1,925 Internet protocol addresses 4,984 (1,097) 3,887 4,984 (973) 4,011 Backlog 2,200 (1,650) 550 2,200 (1,375) 825 In-process research and development ("IPR&D") 368 — 368 368 — 368 Domain name 39 — 39 39 — 39 Total intangible assets $ 129,491 $ (32,204) $ 97,287 $ 129,491 $ (26,895) $ 102,596
Expected Amortization Expense of Intangible Assets	The expected amortization expense of intangible assets subject to amortization as of March 31, 2022 is as follows: As of March 31, 2022 (in thousands) Remainder of 2022 $ 15,672 2023 19,874 2024 19,040 2025 16,561 2026 9,065 Thereafter 16,707 Total $ 96,919

Debt Instruments (Tables)

Debt Instruments (Tables)	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Carrying Values of Debt Agreements	The following table reflects the carrying values of the debt agreements as of March 31, 2022: As of March 31, 2022 As of December 31, 2021 (in thousands) (in thousands) Convertible Senior notes (effective interest rate of 0.40%) Principal amount $ 948,750 $ 948,750 Less: unamortized debt issuance costs (14,629) (15,545) Less: current portion of long-term debt — — Long-term debt, less current portion $ 934,121 $ 933,205

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Purchase Commitments	Aside from the Company's finance and operating lease commitments, including its colocation operating commitments, which have been disclosed in Note 6—Leases, the minimum future commitments related to its purchase commitments as of March 31, 2022 were as follows: Cost of Revenue Commitments SaaS Agreements Total Purchase Commitments (in thousands) Remainder of 2022 $ 28,717 $ 11,143 $ 39,860 2023 13,208 16,296 29,504 2024 9,381 1,815 11,196 2025 846 393 1,239 2026 250 — 250 Thereafter — — — Total $ 52,402 $ 29,647 $ 82,049

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2022
Stockholders' Equity Note [Abstract]
Schedule of Stock Option Activity	The following table summarizes stock option activity during the three months ended March 31, 2022: Shares Weighted- Weighted- Aggregate (in thousands) (in years) (in thousands) Outstanding at December 31, 2021 4,369 $ 5.07 5.10 $ 132,721 Granted — — — Exercised (1,351) 2.26 — Cancelled/forfeited (68) 10.81 — Outstanding at March 31, 2022 2,950 $ 6.23 5.40 $ 33,223 Vested and exercisable at March 31, 2022 2,430 $ 5.42 5.10 $ 29,274
Schedule of Restricted Stock Units	The following table summarizes RSU activity during the three months ended March 31, 2022: Number of Shares Weighted-Average (in thousands) Unvested RSUs as of December 31, 2021 5,285 $ 42.80 Granted 1,285 24.72 Vested (577) 40.95 Cancelled/forfeited (316) 46.04 Unvested RSUs as of March 31, 2022 5,677 $ 38.73 The following table summarizes the activity related to the revest shares during the three months ended March 31, 2022: Number of Shares Weighted-Average Grant Date Fair Value Per Share (in thousands) Unvested revest shares as of December 31, 2021 336 $ 97.84 Granted — — Modification of shares subject to revest (224) 97.84 Vested (38) 97.84 Cancelled/forfeited — — Unvested revest shares as of March 31, 2022 74 $ 97.84
Schedule of Stock-Based Compensation Expense	The following table summarizes the components of total stock-based compensation expense included in the accompanying Condensed Consolidated Statements of Operations: Three months ended March 31, 2022 2021 (in thousands) Cost of revenue $ 2,946 $ 1,186 Research and development 18,589 7,958 Sales and marketing 10,094 5,008 General and administrative 8,393 16,686 Total stock-based compensation expense $ 40,022 $ 30,838

Net Loss Per Share Attributab_2

Net Loss Per Share Attributable to Common Stockholders (Tables)	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following table presents the computation of basic and diluted net loss per share of common stock (in millions, except per share data): Three months ended March 31, 2022 2021 Class A Class A Class B (in thousands, except per share amounts) Net loss attributable to common stockholders $ (64,264) $ (46,184) $ (4,499) Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted 119,673 104,002 10,132 Net loss per share attributable to common stockholders, basic and diluted $ (0.54) $ (0.44) $ (0.44)
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The following securities were excluded from the computation of diluted net loss per share of common stock for the periods presented as their effect would have been antidilutive (in millions): Number of Shares As of March 31, 2022 2021 (in thousands) Stock options 2,950 6,280 RSUs 5,677 4,381 PSUs 218 128 Revest shares 74 672 Early exercised stock options — 77 Shares issuable pursuant to the ESPP 329 92 Convertible senior notes (if-converted) 9,229 9,229 Total 18,477 20,859
Schedule of Accumulated Other Comprehensive Income (Loss)	For the three months ended March 31 2022 and 2021, components of accumulated other comprehensive (loss) income, net of taxes, were as follows (in thousands): Unrealized Loss on Available-for-Sale Securities Foreign Currency Translation Adjustment Total Balance, December 31, 2021 (2,242) (385) (2,627) Foreign currency translation adjustment — (187) (187) Unrealized loss on available-for-sale securities (6,682) — (6,682) Balance, March 31, 2022 (8,924) (572) (9,496) Unrealized Gain on Available-for-Sale Securities Foreign Currency Translation Adjustment Total Balance, December 31, 2020 105 (99) 6 Foreign currency translation adjustment — (65) (65) Unrealized loss on available-for-sale securities (78) — (78) Balance, March 31, 2021 27 (164) (137)

Information About Revenue and_2

Information About Revenue and Geographic Areas (Tables)	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Schedule of Long-Lived Assets by Geographic Region	The Company’s property and equipment, net and right-of-use assets, by geographic area were as follows: As of March 31, As of December 31, 2022 2021 (in thousands) United States $ 181,128 $ 177,990 All other countries 56,877 58,602 Total long-lived assets $ 238,005 $ 236,592

Nature of Business (Details)

Nature of Business (Details)	Mar. 31, 2022operatingMarket
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of operating markets	75

Revenue - Revenue by Geographic

Revenue - Revenue by Geographic Area (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Disaggregation of Revenue [Line Items]
Total revenue	$ 102,382	$ 84,852
United States
Disaggregation of Revenue [Line Items]
Total revenue	75,614	62,734
Asia Pacific
Disaggregation of Revenue [Line Items]
Total revenue	11,720	9,154
Europe
Disaggregation of Revenue [Line Items]
Total revenue	9,353	9,640
All other
Disaggregation of Revenue [Line Items]
Total revenue	$ 5,695	$ 3,324

Revenue - Narrative (Details)

Revenue - Narrative (Details) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Revenue from Contract with Customer [Abstract]
Enterprise customer threshold	$ 100,000
Revenue, performance obligation, description of payment terms	Payment terms on invoiced amounts are at a weighted average of 40 days.
Amortization of deferred contract costs	$ 1,851,000	$ 1,411,000

Revenue - Revenue by Customer T

Revenue - Revenue by Customer Type (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Disaggregation of Revenue [Line Items]
Total revenue	$ 102,382	$ 84,852
Enterprise customers
Disaggregation of Revenue [Line Items]
Total revenue	91,101	75,465
Non-enterprise customers
Disaggregation of Revenue [Line Items]
Total revenue	$ 11,281	$ 9,387

Revenue - Contract Assets and L

Revenue - Contract Assets and Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Contract assets	$ 56		$ 89
Contract liabilities	30,660		$ 28,907
Contract with Customer, Liability
Revenue recognized in the period from amounts included in contract liability at the beginning of the period	$ 9,238	$ 5,903

Revenue - Remaining Performance

Revenue - Remaining Performance Obligation (Details) $ in Millions	Mar. 31, 2022USD ($)
Revenue from Contract with Customer [Abstract]
Revenue performance obligation	$ 157.5
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, percentage	78.00%
Remaining performance obligation, timing of satisfaction	12 months

Revenue - Costs to Obtain Contr

Revenue - Costs to Obtain Contracts (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Deferred contract costs, net	$ 26,061	$ 23,830

Investments and Fair Value Me_3

Investments and Fair Value Measurements - Cash, Cash Equivalent and Marketable Securities (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021
Debt Securities, Available-for-sale [Line Items]
Cash and cash equivalents:	$ 245,794	$ 166,068	$ 948,783
Marketable securities, current	393,950	361,795
Marketable securities, non-current	394,464	528,911
Total marketable securities	788,414	890,706
Total cash, cash equivalents and marketable securities	1,034,208	1,056,774
U.S. Treasury securities
Debt Securities, Available-for-sale [Line Items]
Marketable securities, current	235,623	184,946
Marketable securities, non-current	122,556	239,528
Total marketable securities	358,179	424,475
Corporate notes and bonds
Debt Securities, Available-for-sale [Line Items]
Marketable securities, current	23,734	11,327
Marketable securities, non-current	187,792	197,298
Total marketable securities	211,526	208,625
Commercial paper
Debt Securities, Available-for-sale [Line Items]
Marketable securities, current	80,904	124,089
Total marketable securities	80,904	124,089
Asset-backed securities
Debt Securities, Available-for-sale [Line Items]
Marketable securities, current	21,438	21,576
Marketable securities, non-current	81,871	77,142
Total marketable securities	103,309	98,717
Municipal securities
Debt Securities, Available-for-sale [Line Items]
Marketable securities, current	2,249	2,250
Total marketable securities	4,494	4,562
Municipal securities
Debt Securities, Available-for-sale [Line Items]
Marketable securities, non-current	2,245	2,312
Foreign government and supranational securities
Debt Securities, Available-for-sale [Line Items]
Marketable securities, current	30,002	17,607
Marketable securities, non-current	0	12,631
Total marketable securities	30,002	30,238
Cash
Debt Securities, Available-for-sale [Line Items]
Cash and cash equivalents:	118,014	134,774
Money market funds
Debt Securities, Available-for-sale [Line Items]
Cash and cash equivalents:	66,792	31,294
U.S. Treasury securities
Debt Securities, Available-for-sale [Line Items]
Cash and cash equivalents:	$ 60,988	$ 0

Investments and Fair Value Me_4

Investments and Fair Value Measurements - Available-For-Sale Investments (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 797,338	$ 892,948
Gross Unrealized Gain	0	1
Gross Unrealized Loss	(8,924)	(2,243)
Fair Value	788,414	890,706
U.S. Treasury securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	362,746	425,560
Gross Unrealized Gain	0	1
Gross Unrealized Loss	(4,567)	(1,086)
Fair Value	358,179	424,475
Corporate notes and bonds
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	215,096	209,550
Gross Unrealized Gain	0	0
Gross Unrealized Loss	(3,570)	(925)
Fair Value	211,526	208,625
Commercial paper
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	80,904	124,098
Gross Unrealized Gain	0	0
Gross Unrealized Loss	0	(9)
Fair Value	80,904	124,089
Asset-backed securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	103,795	98,857
Gross Unrealized Gain	0	0
Gross Unrealized Loss	(486)	(140)
Fair Value	103,309	98,717
Municipal securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	4,576	4,577
Gross Unrealized Gain	0	0
Gross Unrealized Loss	(82)	(15)
Fair Value	4,494	4,562
Foreign government and supranational securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	30,221	30,306
Gross Unrealized Gain	0	0
Gross Unrealized Loss	(219)	(68)
Fair Value	$ 30,002	$ 30,238

Investments and Fair Value Me_5

Investments and Fair Value Measurements - Narrative (Details) $ in Millions	Mar. 31, 2022USD ($)security	Dec. 31, 2021USD ($)security
Fair Value Disclosures [Abstract]
Securities in a continuous loss position (in securities) | security	0	0
Restricted cash | $	$ 0.9	$ 0.9

Investments and Fair Value Me_6

Investments and Fair Value Measurements - Assets and Liabilities at Fair Value (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 127,780	$ 31,294
Marketable securities	788,414	890,706
Restricted cash	893	893
Total financial assets	917,087	922,893
Corporate notes and bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	211,526	208,625
Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	80,904	124,089
U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	358,179	424,475
Municipal securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	4,494	4,562
Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	103,309	98,717
Foreign government and supranational securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	30,002	30,238
Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	66,792	31,294
Restricted cash	893	893
U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	60,988
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	66,792	31,294
Marketable securities	0	0
Restricted cash	893	893
Total financial assets	67,685	32,187
Level 1 | Corporate notes and bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Level 1 | Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Level 1 | U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Level 1 | Municipal securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Level 1 | Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Level 1 | Foreign government and supranational securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Level 1 | Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	66,792	31,294
Restricted cash	893	893
Level 1 | U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	60,988	0
Marketable securities	788,414	890,706
Restricted cash	0	0
Total financial assets	849,402	890,706
Level 2 | Corporate notes and bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	211,526	208,625
Level 2 | Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	80,904	124,089
Level 2 | U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	358,179	424,475
Level 2 | Municipal securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	4,494	4,562
Level 2 | Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	103,309	98,717
Level 2 | Foreign government and supranational securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	30,002	30,238
Level 2 | Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Restricted cash	0	0
Level 2 | U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	60,988
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Marketable securities	0	0
Restricted cash	0	0
Total financial assets	0	0
Level 3 | Corporate notes and bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Level 3 | Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Level 3 | U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Level 3 | Municipal securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Level 3 | Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Level 3 | Foreign government and supranational securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Level 3 | Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Restricted cash	0	$ 0
Level 3 | U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 0

Balance Sheet Information - Pro

Balance Sheet Information - Property and equipment (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 270,184	$ 254,811
Accumulated depreciation and amortization	(95,634)	(87,850)
Property and equipment, net	174,550	166,961
Computer and networking equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	217,448	207,575
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	5,099	4,631
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property and equipment, gross	1,310	1,606
Office equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	757	654
Internal-use software
Property, Plant and Equipment [Line Items]
Property and equipment, gross	45,570	40,345
Property and equipment, net	$ 31,600	$ 27,900

Balance Sheet Information - Nar

Balance Sheet Information - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Depreciation and amortization	$ 9,900	$ 6,400
Property and equipment, net	174,550		$ 166,961
Finance lease, right-of-use asset, before accumulated amortization	85,300		67,800
Finance lease, right-of-use asset, accumulated amortization	17,100		14,400
Internal-use software
Property, Plant and Equipment [Line Items]
Depreciation and amortization	1,500	$ 900
Property and equipment, net	$ 31,600		$ 27,900

Balance Sheet Information - Oth

Balance Sheet Information - Other Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Balance Sheet Related Disclosures [Abstract]
Deferred contract costs, net	$ 26,061	$ 23,830
Restricted cash	893	893
Other assets	3,066	4,745
Total other assets	$ 30,020	$ 29,468

Balance Sheet Information - Acc

Balance Sheet Information - Accrued Expenses (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Balance Sheet Related Disclosures [Abstract]
Accrued compensation and related benefits	$ 23,126	$ 13,543
Accrued colocation and bandwidth costs	10,236	10,205
Sales and use tax liabilities	8,525	8,070
Other accrued liabilities	8,015	4,294
Accrued expenses	$ 49,902	$ 36,112

Balance Sheet Information - O_2

Balance Sheet Information - Other Current Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Balance Sheet Related Disclosures [Abstract]
Deferred revenue, current	$ 28,455	$ 26,421
Accrued computer and networking equipment	7,408	18,081
Other current liabilities	706	605
Total other current liabilities	$ 36,569	$ 45,107

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Lessee, Lease, Description [Line Items]
Subleases, remaining lease terms (in years)	2 years 6 months
Sublease income	$ 0.3	$ 0.3
Lease not yet commenced, commitment amount	$ 11.1
Minimum
Lessee, Lease, Description [Line Items]
Remaining lease terms, operating (in years)	1 year
Remaining lease terms, finance (in years)	1 year
Lease not yet commenced, term of contract	1 year
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease terms, operating (in years)	6 years
Remaining lease terms, finance (in years)	6 years
Lease not yet commenced, term of contract	6 years

Leases - Lease Cost (Details)

Leases - Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Leases [Abstract]
Operating lease cost	$ 6,802	$ 6,352
Variable lease cost	2,772	1,358
Total operating lease costs	9,574	7,710
Amortization of assets under finance lease	3,263	1,234
Interest	655	330
Total finance lease costs	$ 3,918	$ 1,564

Leases - Supplemental Lease Inf

Leases - Supplemental Lease Information (Details)	Mar. 31, 2022	Dec. 31, 2021
Weighted Average Remaining Lease Term (in years):
Operating leases	4 years 3 months 18 days	4 years 4 months 28 days
Finance leases	2 years 3 months 10 days	2 years 2 months 23 days
Weighted Average Discount Rate:
Operating leases	5.20%	5.20%
Finance leases	4.77%	4.86%

Leases - Lease Liability Maturi

Leases - Lease Liability Maturity (Details) $ in Thousands	Mar. 31, 2022USD ($)
Operating Leases
Remainder of 2022	$ 17,764
2023	18,726
2024	15,815
2025	15,116
2026	14,994
Thereafter	8,824
Total future minimum lease payments	91,239
Less: imputed interest	(8,869)
Total liability	82,370
Finance Leases
Remainder of 2022	22,405
2023	23,493
2024	12,132
2025	638
2026	0
Thereafter	0
Total future minimum lease payments	58,668
Less: imputed interest	(3,035)
Total liability	$ 55,633

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Goodwill (Details) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Goodwill [Roll Forward]
Balance as of December 31, 2021	$ 636,805,000
Goodwill acquired	775,000
Foreign currency translation and other adjustments	(10,000)
Balance as of March 31, 2022	637,570,000
Goodwill, Impairment Loss	$ 0	$ 0

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Intangible Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Accumulated amortization	$ (32,204)	$ (26,895)
Total	96,919
Gross carrying value	129,491	129,491
Total intangible assets	97,287	102,596
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross carrying value	69,100	69,100
Accumulated amortization	(12,957)	(10,797)
Total	56,143	58,303
Developed technology
Finite-Lived Intangible Assets [Line Items]
Gross carrying value	49,500	49,500
Accumulated amortization	(14,850)	(12,375)
Total	34,650	37,125
Trade names
Finite-Lived Intangible Assets [Line Items]
Gross carrying value	3,300	3,300
Accumulated amortization	(1,650)	(1,375)
Total	1,650	1,925
Internet protocol addresses
Finite-Lived Intangible Assets [Line Items]
Gross carrying value	4,984	4,984
Accumulated amortization	(1,097)	(973)
Total	3,887	4,011
Backlog
Finite-Lived Intangible Assets [Line Items]
Gross carrying value	2,200	2,200
Accumulated amortization	(1,650)	(1,375)
Total	550	825
In-process research and development ("IPR&D")
Finite-Lived Intangible Assets [Line Items]
Gross carrying value	368	368
Accumulated amortization	0	0
Total	368	368
Domain name
Finite-Lived Intangible Assets [Line Items]
Gross carrying value	39	39
Accumulated amortization	0	0
Total	$ 39	$ 39

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of intangible assets	$ 5,309	$ 5,363

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets - Expected Amortization of Intangible Assets (Details) $ in Thousands	Mar. 31, 2022USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of 2022	$ 15,672
2023	19,874
2024	19,040
2025	16,561
2026	9,065
Thereafter	16,707
Total	$ 96,919

Debt Instruments - Senior Secur

Debt Instruments - Senior Secured Credit Facilities Agreement (Details) - SVB Revolver	Feb. 16, 2021USD ($)	Mar. 31, 2022USD ($)	Mar. 31, 2021USD ($)	Dec. 31, 2021USD ($)
Debt Instrument [Line Items]
Debt facility, maximum borrowing amount	$ 100,000,000
Transaction costs	$ 600,000
Debt covenant, adjusted quick ratio, minimum requirement	1.25
Debt covenant, adjusted quick ratio, minimum threshold to trigger revenue growth covenant requirement	1.75
Amounts drawn on line of credit during the period		$ 0	$ 0
Amount of debt outstanding		$ 0		$ 0
Minimum
Debt Instrument [Line Items]
Line of credit, unused capacity, commitment fee percentage	0.20%
Maximum
Debt Instrument [Line Items]
Line of credit, unused capacity, commitment fee percentage	0.25%
LIBOR | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	1.75%
LIBOR | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	2.00%

Debt Instruments - Convertible

Debt Instruments - Convertible Senior Notes (Details)	Mar. 05, 2021USD ($)	Mar. 31, 2022USD ($)day$ / shares	Mar. 31, 2021USD ($)
Debt Instrument [Line Items]
Issuance of convertible note, net of issuance costs | $		$ 0	$ 930,775,000
2026 Convertible Notes
Debt Instrument [Line Items]
Issuance of convertible note, net of issuance costs | $	$ 930,000,000
2026 Convertible Notes | Common Class A
Debt Instrument [Line Items]
Debt instrument, convertible, conversion ratio		0.0097272
Debt instrument, convertible, conversion price (in dollars per share) | $ / shares		$ 102.80
2026 Convertible Notes | Fastly Conversion Option
Debt Instrument [Line Items]
Debt instrument, convertible, threshold percentage of stock price trigger		130.00%
Debt instrument, convertible, threshold trading days		20
Debt instrument, convertible, threshold consecutive trading days		30
2026 Convertible Notes | Holder Conversion Option One | Common Class A
Debt Instrument [Line Items]
Debt instrument, convertible, threshold percentage of stock price trigger		130.00%
Debt instrument, convertible, threshold trading days		20
Debt instrument, convertible, threshold consecutive trading days		30
2026 Convertible Notes | Holder Conversion Option Two | Common Class A
Debt Instrument [Line Items]
Debt instrument, convertible, threshold percentage of stock price trigger		98.00%
Debt instrument, convertible, threshold trading days		5
Debt instrument, convertible, threshold consecutive trading days		10
Convertible Debt | 2026 Convertible Notes
Debt Instrument [Line Items]
Debt Instrument, face amount | $	$ 948,800,000
Interest rate, stated percentage	0.00%
Debt instrument, face amount, additional principal issuable | $	$ 123,800,000
Discount and transaction costs | $	$ 18,600,000
Convertible Debt | 2026 Convertible Notes | Fastly Conversion Option
Debt Instrument [Line Items]
Debt instrument, redemption price, percentage		100.00%
Convertible Debt | 2026 Convertible Notes | Fundamental Change
Debt Instrument [Line Items]
Debt instrument, redemption price, percentage		100.00%

Debt Instruments - Schedule of

Debt Instruments - Schedule of Outstanding Debt (Details) - Convertible Debt - 2026 Convertible Notes - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Effective interest rate	0.40%
Principal amount	$ 948,750	$ 948,750
Less: unamortized debt issuance costs	(14,629)	(15,545)
Less: current portion of long-term debt	0	0
Long-term debt, less current portion	$ 934,121	$ 933,205

Debt Instruments - Narrative (D

Debt Instruments - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Debt Disclosure [Abstract]
Interest expense	$ 1	$ 0.2

Commitments and Contingencies -

Commitments and Contingencies - Purchase Commitments (Details) $ in Thousands	Mar. 31, 2022USD ($)
Long-term Purchase Commitment [Line Items]
Remainder of 2022	$ 39,860
2023	29,504
2024	11,196
2025	1,239
2026	250
Thereafter	0
Total	82,049
Cost of Revenue Commitments
Long-term Purchase Commitment [Line Items]
Remainder of 2022	28,717
2023	13,208
2024	9,381
2025	846
2026	250
Thereafter	0
Total	52,402
SaaS Agreements
Long-term Purchase Commitment [Line Items]
Remainder of 2022	11,143
2023	16,296
2024	1,815
2025	393
2026	0
Thereafter	0
Total	$ 29,647

Commitments and Contingencies_2

Commitments and Contingencies - Narrative (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Sales and use tax liability	$ 7.7	$ 7.5

Stockholders' Equity - Equity I

Stockholders' Equity - Equity Incentive Plans (Details) - Common Class A - shares shares in Millions	Mar. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, shares outstanding (in shares)	120.8	118.8
Common stock, shares issued (in shares)	120.8	118.8
2019 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, shares available for future issuance (in shares)	20.6	15.9

Stockholders' Equity - Stock Op

Stockholders' Equity - Stock Options (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 40,022	$ 30,838
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 1,700	$ 3,700
Stock options | 2011 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award expiration period	10 years
Award vesting period	4 years
Stock options | 2011 Equity Incentive Plan | First Year
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage	25.00%
Stock options | 2011 Equity Incentive Plan | Remaining Period
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	36 months

Stockholders' Equity - Stock _2

Stockholders' Equity - Stock Option Activity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Number of Shares
Options outstanding, beginning balance (in shares)	4,369
Granted (in shares)	0
Exercised (in shares)	(1,351)
Cancelled/forfeited (in shares)	(68)
Options outstanding, ending balance (in shares)	2,950	4,369
Options vested and exercisable (in shares)	2,430
Weighted- Average  Exercise Price
Options outstanding, weighted average exercise price, beginning of period (in USD per share)	$ 6.23	$ 5.07
Granted, weighted average exercise price (in USD per share)	0
Exercised, weighted average exercise price (in USD per share)	2.26
Cancelled/forfeited, weighted average exercise price (in USD per share)	10.81
Options outstanding, weighted average exercise price, end of period (in USD per share)	6.23	$ 5.07
Vested and exercisable, weighted-average exercise price (in USD per share)	$ 5.42
Stock Option Activity, Additional Disclosures
Weighted-average remaining contractual period	5 years 4 months 24 days	5 years 1 month 6 days
Vested and exercisable, weighted average contractual term	5 years 1 month 6 days
Aggregate intrinsic value	$ 33,223	$ 132,721
Vested and exercisable, aggregate intrinsic value	$ 29,274

Stockholders' Equity - RSUs and

Stockholders' Equity - RSUs and Revest Shares (Details) $ in Thousands	Jan. 31, 2022USD ($)	Mar. 31, 2022USD ($)	Mar. 31, 2021USD ($)	Dec. 31, 2020cofoundershares	Dec. 31, 2021shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense		$ 40,022	$ 30,838
Signal Sciences Corp.
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of cofounders with shares subject to revesting | cofounder				3
Shares held back for restricted stock awards, revesting period				2 years
Signal Sciences Corp. | Common Class A
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares restricted for stock awards (in shares) | shares				896,499
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period		4 years
Stock-based compensation expense		$ 21,800	13,200
RSUs | First Year
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period		4 years
Award vesting percentage		25.00%
RSUs | Remaining Period
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period		36 months
Revest Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense		$ 12,900	$ 11,000
Nonvested shares sold that remain unvested (in shares) | shares					224,124
Proceeds from nonvested shares sold	$ 10,700
Modification expense, incremental fair value		$ 5,600

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule of Restricted, Revest, and Performance Shares (Details) shares in Thousands	3 Months Ended
	Mar. 31, 2022$ / sharesshares
RSUs
Number of Shares
Beginning balance (in shares) | shares	5,285
Granted (in shares) | shares	1,285
Vested (in shares) | shares	(577)
Cancelled/forfeited (in shares) | shares	(316)
Ending balance (in shares) | shares	5,677
Weighted-Average  Grant Date Fair Value Per Share
Beginning balance (in USD per share) | $ / shares	$ 42.80
Granted (in USD per share) | $ / shares	24.72
Vested (in USD per share) | $ / shares	40.95
Forfeited (in USD per share) | $ / shares	46.04
Ending balance (in USD per share) | $ / shares	$ 38.73
Revest Shares
Number of Shares
Beginning balance (in shares) | shares	336
Granted (in shares) | shares	0
Sale of shares subject to revest (in shares) | shares	(224)
Vested (in shares) | shares	(38)
Cancelled/forfeited (in shares) | shares	0
Ending balance (in shares) | shares	74
Weighted-Average  Grant Date Fair Value Per Share
Beginning balance (in USD per share) | $ / shares	$ 97.84
Granted (in USD per share) | $ / shares	0
Sale of shares subject to revest (in USD per share) | $ / shares	97.84
Vested (in USD per share) | $ / shares	97.84
Forfeited (in USD per share) | $ / shares	0
Ending balance (in USD per share) | $ / shares	$ 97.84

Stockholders' Equity - Performa

Stockholders' Equity - Performance-Based Restricted Stock Units (PSUs) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Feb. 11, 2022
Performance Target Payout Level One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payout of performance-based restricted stock units, percentage			50.00%
Performance Target Payout Level Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payout of performance-based restricted stock units, percentage			100.00%
Performance Target Payout Level Three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payout of performance-based restricted stock units, percentage			150.00%
PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 0.5	$ 2.1
Employee benefits and share-based compensation accrued	$ 3.3

Stockholders' Equity - ESPP (De

Stockholders' Equity - ESPP (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Contributions withheld for taxes	$ 2,400	$ 3,400
Stock-based compensation expense	$ 40,022	30,838
Shares issuable pursuant to the ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum employee contribution as a percentage of salary	15.00%
Offering period duration	6 months
Purchase price of common stock, percent	85.00%
Stock-based compensation expense	$ 1,100	$ 1,200

Stockholders' Equity - Stock-ba

Stockholders' Equity - Stock-based Compensation Expense (Details) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 40,022,000	$ 30,838,000
Share-based payment arrangement, amount capitalized	1,415,000	374,000
Liability Classified Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	10,500,000	0
Cost of revenue
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	2,946,000	1,186,000
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	18,589,000	7,958,000
Sales and marketing
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	10,094,000	5,008,000
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 8,393,000	$ 16,686,000

Net Loss Per Share Attributab_3

Net Loss Per Share Attributable to Common Stockholders - Computation of EPS (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Class of Stock [Line Items]
Weighted-average shares used in computing net loss per share attributable to common stockholder, basic (in shares)	119,673	114,134
Weighted-average shares used in computing net loss per share attributable to common stockholder, diluted (in shares)	119,673	114,134
Net loss per share attributable to common stockholders, basic (in US dollar per share)	$ (0.54)	$ (0.44)
Net loss per share attributable to common stockholders, diluted (in US dollar per share)	$ (0.54)	$ (0.44)
Common Class A
Class of Stock [Line Items]
Net loss attributable to common stockholders	$ (64,264)	$ (46,184)
Weighted-average shares used in computing net loss per share attributable to common stockholder, basic (in shares)	119,673	104,002
Weighted-average shares used in computing net loss per share attributable to common stockholder, diluted (in shares)	119,673	104,002
Net loss per share attributable to common stockholders, basic (in US dollar per share)	$ (0.54)	$ (0.44)
Net loss per share attributable to common stockholders, diluted (in US dollar per share)	$ (0.54)	$ (0.44)
Net Income (Loss) Available to Common Stockholders, Diluted	$ (64,264)	$ (46,184)
Common Class B
Class of Stock [Line Items]
Net loss attributable to common stockholders		$ (4,499)
Weighted-average shares used in computing net loss per share attributable to common stockholder, basic (in shares)		10,132
Weighted-average shares used in computing net loss per share attributable to common stockholder, diluted (in shares)		10,132
Net loss per share attributable to common stockholders, basic (in US dollar per share)		$ (0.44)
Net loss per share attributable to common stockholders, diluted (in US dollar per share)		$ (0.44)
Net Income (Loss) Available to Common Stockholders, Diluted		$ (4,499)

Net Loss Per Share Attributab_4

Net Loss Per Share Attributable to Common Stockholders - Antidilutive Securities (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	18,477	20,859
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	2,950	6,280
RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	5,677	4,381
PSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	218	128
Revest shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	74	672
Early exercised stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	0	77
Shares issuable pursuant to the ESPP
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	329	92
Convertible senior notes (if-converted)
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	9,229	9,229

Net Loss Per Share Attributab_5

Net Loss Per Share Attributable to Common Stockholders - Accumulated Other Comprehensive (Loss) Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	$ 1,013,953	$ 1,061,865
Foreign currency translation adjustment	(187)	(65)
Unrealized loss on available-for-sale securities	(6,682)	(78)
Ending balance	976,723	1,045,034
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(2,627)	6
Ending balance	(9,496)	(137)
Unrealized Loss on Available-for-Sale Securities
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(2,242)	105
Foreign currency translation adjustment	0	0
Unrealized loss on available-for-sale securities	(6,682)	(78)
Ending balance	(8,924)	27
Foreign Currency Translation Adjustment
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(385)	(99)
Foreign currency translation adjustment	(187)	(65)
Unrealized loss on available-for-sale securities	0	0
Ending balance	$ (572)	$ (164)

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Income tax expense (benefit)	$ 40	$ 169

Information About Revenue and_3

Information About Revenue and Geographic Areas (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)segment	Dec. 31, 2021USD ($)
Segment Reporting [Abstract]
Number of reportable segments | segment	1
Revenues from External Customers and Long-Lived Assets [Line Items]
Total long-lived assets	$ 238,005	$ 236,592
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Total long-lived assets	181,128	177,990
All other countries
Revenues from External Customers and Long-Lived Assets [Line Items]
Total long-lived assets	$ 56,877	$ 58,602