Rapid7 (RPD) 10-K 28 Feb 25 2024 FY Annual report Financial data

Cover Page

Cover Page - USD ($)	12 Months Ended
	Dec. 31, 2024	Feb. 25, 2025	Jun. 30, 2024
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2024
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-37496
Entity Registrant Name	RAPID7, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	35-2423994
Entity Address, Address Line One	120 Causeway Street
Entity Address, City or Town	Boston
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	02114
City Area Code	617
Local Phone Number	247-1717
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	RPD
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction	true
Document Financial Statement Restatement Recovery Analysis	true
Entity Shell Company	false
Entity Public Float			$ 2,669,159,228
Entity Common Stock, Shares Outstanding		63,968,853
Documents Incorporated by Reference	Portions of the registrant’s definitive Proxy Statement for its 2025 Annual Meeting of Stockholders to be filed with the Securities and Exchange Commission pursuant to Regulation 14A not later than 120 days after the end of the fiscal year covered by this Annual Report on Form 10-K are incorporated by reference in Part III, Items 10-14 of this Annual Report on Form 10-K.
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Entity Central Index Key	0001560327
Amendment Flag	false

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2024
Audit Information [Abstract]
Auditor Name	KPMG LLP
Auditor Location	Boston, MA
Auditor Firm ID	185

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 334,686	$ 213,629
Short-term investments	187,025	169,544
Accounts receivable, net of allowance for credit losses of $1,833 and $951 at December 31, 2024 and December 31, 2023, respectively	168,242	164,862
Deferred contract acquisition and fulfillment costs, current portion	52,134	45,008
Prepaid expenses and other current assets	44,024	41,407
Total current assets	786,111	634,450
Long-term investments	37,274	56,171
Property and equipment, net	32,245	39,642
Operating lease right-of-use assets	48,877	54,693
Deferred contract acquisition and fulfillment costs, non-current portion	73,672	76,601
Goodwill	575,268	536,351
Intangible assets, net	85,719	94,546
Other assets	12,868	12,894
Total assets	1,652,034	1,505,348
Current liabilities:
Accounts payable	18,908	15,812
Accrued expenses and other current liabilities	88,802	85,025
Convertible senior notes, current portion, net	45,895	0
Operating lease liabilities, current portion	15,493	13,452
Deferred revenue, current portion	461,118	455,503
Total current liabilities	630,216	569,792
Convertible senior notes non-current portion, net	888,356	929,996
Operating lease liabilities, non-current portion	68,430	81,130
Deferred revenue, non-current portion	27,078	32,577
Other long-term liabilities	20,243	10,032
Total liabilities	1,634,323	1,623,527
Stockholders’ equity (deficit):
Preferred stock, $0.01 par value per share; 10,000,000 shares authorized at December 31, 2024 and 2023; 0 shares issued and outstanding at December 31, 2024 and 2023	0	0
Common stock, $0.01 par value per share; 100,000,000 shares authorized at December 31, 2024 and 2023; 64,067,220 and 62,283,630 shares issued at December 31, 2024 and 2023, respectively; 63,496,965 and 61,714,051 shares outstanding at December 31, 2024 and 2023, respectively	635	617
Treasury stock, at cost, 570,255 and 569,579 shares at December 31, 2024 and 2023, respectively	(4,765)	(4,765)
Additional paid-in-capital	1,011,080	898,185
Accumulated other comprehensive (loss) income	(1,205)	1,344
Accumulated deficit	(988,034)	(1,013,560)
Total stockholders’ equity (deficit)	17,711	(118,179)
Total liabilities and stockholders’ equity (deficit)	$ 1,652,034	$ 1,505,348

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Allowance for doubtful accounts receivable	$ 1,833	$ 951
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	64,067,220	62,283,630
Common stock, shares outstanding (in shares)	63,496,965	61,714,051
Treasury stock, at cost (in shares)	570,255	569,579

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Revenue:
Total revenue	$ 844,007	$ 777,707	$ 685,083
Cost of revenue:
Total cost of revenue	251,035	232,046	214,349
Total gross profit	592,972	545,661	470,734
Operating expenses:
Research and development	173,126	177,937	189,970
Sales and marketing	298,809	313,661	307,409
General and administrative	86,002	85,340	84,969
Impairment of long-lived assets	0	30,784	0
Restructuring	0	22,227	0
Total operating expenses	557,937	629,949	582,348
Income (loss) from operations	35,035	(84,288)	(111,614)
Other income (expense), net:
Interest income	21,063	10,177	1,813
Interest expense	(10,963)	(64,700)	(10,982)
Other expense, net	(3,680)	(14,522)	(1,522)
Income (loss) before income taxes	41,455	(153,333)	(122,305)
Provision for (benefit from) income taxes	15,929	(518)	2,412
Net income (loss)	$ 25,526	$ (152,815)	$ (124,717)
Net income (loss) per share, basic (in dollars per share)	$ 0.41	$ (2.52)	$ (2.13)
Net income (loss) per share, diluted (in dollars per share)	$ 0.40	$ (2.52)	$ (2.13)
Numerator used to calculate earnings per share (Note 15)
Basic	$ 25,526	$ (152,815)	$ (124,717)
Diluted	$ 25,526	$ (152,815)	$ (124,717)
Weighted-average common shares outstanding, basic (in Shares)	62,607,583	60,756,087	58,552,065
Weighted-average common shares outstanding, diluted (in Shares)	63,183,651	60,756,087	58,552,065
Product subscriptions
Revenue:
Total revenue	$ 808,906	$ 740,168	$ 647,535
Cost of revenue:
Total cost of revenue	225,547	203,140	182,212
Professional services
Revenue:
Total revenue	35,101	37,539	37,548
Cost of revenue:
Total cost of revenue	$ 25,488	$ 28,906	$ 32,137

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 25,526	$ (152,815)	$ (124,717)
Other comprehensive income (loss):
Change in fair value of cash flow hedges	(1,723)	797	(3,874)
Adjustment for net (gains)/ losses realized on cash flow hedges and included in net income (loss), net of taxes	(546)	724	4,053
Total change in unrealized (losses) gains on cash flow hedges	(2,269)	1,521	179
Change in unrealized gains (losses) on investments	(280)	1,234	(778)
Total other comprehensive (loss) income	(2,549)	2,755	(599)
Comprehensive income (loss)	$ 22,977	$ (150,060)	$ (125,316)

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY (DEFICIT) - USD ($) $ in Thousands	Total	Common stock	Treasury stock	Additional paid-in-capital	Accumulated other comprehensive income (loss)	Accumulated deficit
Common stock, beginning balance (in shares) at Dec. 31, 2021		57,695,000
Beginning balance at Dec. 31, 2021	$ (125,995)	$ 577	$ (4,764)	$ 615,032	$ (812)	$ (736,028)
Treasury stock, beginning balance (in shares) at Dec. 31, 2021			487,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	123,441			123,441
Issuance of common stock under employee stock purchase plan (in shares)		218,000
Issuance of common stock under employee stock purchase plan	11,943	$ 2		11,941
Vesting of restricted stock units (in shares)		1,482,000
Vesting of restricted stock units	0	$ 15		(15)
Shares withheld for employee taxes (in shares)		(105,000)
Shares withheld for employee taxes	(7,462)	$ (1)		(7,461)
Issuance of common stock upon exercise of stock options (in shares)		480,000
Issuance of common stock upon exercise of stock options	3,318	$ 5		3,313
Issuance of common stock in connection with conversion of convertible senior notes	(3)			(3)
Issuance of common stock related to acquisition (in shares)		33,000
Repurchase of common stock issued in relation to acquisition (in shares)		(83,000)
Repurchase of common stock issued in relation to acquisition	0	$ (1)		1
Other comprehensive income (loss)	(599)				(599)
Net income (loss)	(124,717)					(124,717)
Common stock, ending balance (in shares) at Dec. 31, 2022		59,720,000
Ending balance at Dec. 31, 2022	(120,074)	$ 597	$ (4,764)	746,249	(1,411)	(860,745)
Treasury stock, ending balance (in shares) at Dec. 31, 2022			487,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	110,809			110,809
Issuance of common stock under employee stock purchase plan (in shares)		330,000
Issuance of common stock under employee stock purchase plan	11,323	$ 3		11,320
Vesting of restricted stock units (in shares)		1,454,000
Vesting of restricted stock units	0	$ 15		(15)
Shares withheld for employee taxes (in shares)		(113,000)
Shares withheld for employee taxes	(5,570)	$ (1)		(5,569)
Issuance of common stock upon exercise of stock options (in shares)		216,000
Issuance of common stock upon exercise of stock options	3,053	$ 2		3,051
Issuance of common stock related to acquisition (in shares)		107,000
Issuance of common stock related to acquisition	0	$ 1		(1)
Repurchase of common stock issued in relation to acquisition (in shares)			83,000
Repurchase of common stock issued in relation to acquisition	0		$ (1)	1
Purchase of capped called related to convertible senior notes	(36,570)			(36,570)
Reclassification of equity to derivative assets related to capped calls	33,029			33,029
Repurchase and inducement of convertible senior notes	35,881			35,881
Other comprehensive income (loss)	2,755				2,755
Net income (loss)	$ (152,815)					(152,815)
Common stock, ending balance (in shares) at Dec. 31, 2023	61,714,051	61,714,000
Ending balance at Dec. 31, 2023	$ (118,179)	$ 617	$ (4,765)	898,185	1,344	(1,013,560)
Treasury stock, ending balance (in shares) at Dec. 31, 2023	569,579		570,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	$ 105,179			105,179
Issuance of common stock under employee stock purchase plan (in shares)		292,000
Issuance of common stock under employee stock purchase plan	9,246	$ 3		9,243
Vesting of restricted stock units (in shares)		1,435,000
Vesting of restricted stock units	0	$ 15		(15)
Shares withheld for employee taxes (in shares)		(104,000)
Shares withheld for employee taxes	(4,730)	$ (1)		(4,729)
Vesting of equity awards previously classified as liabilities (in shares)		27,000
Vesting of equity awards previously classified as liabilities	1,652			1,652
Issuance of common stock upon exercise of stock options (in shares)		133,000
Issuance of common stock upon exercise of stock options	1,566	$ 1		1,565
Repurchase of common stock issued in relation to acquisition (in shares)			1,000
Other comprehensive income (loss)	(2,549)				(2,549)
Net income (loss)	$ 25,526					25,526
Common stock, ending balance (in shares) at Dec. 31, 2024	63,496,965	63,497,000
Ending balance at Dec. 31, 2024	$ 17,711	$ 635	$ (4,765)	$ 1,011,080	$ (1,205)	$ (988,034)
Treasury stock, ending balance (in shares) at Dec. 31, 2024	570,255		571,000

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Cash flows from operating activities:
Net income (loss)	$ 25,526	$ (152,815)	$ (124,717)
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	44,893	45,939	41,038
Amortization of debt issuance costs	4,447	4,138	4,085
Stock-based compensation expense	107,961	111,636	119,902
Impairment of long-lived assets	0	30,784	0
Change in fair value of derivative assets	0	15,511	0
Deferred income taxes	791	(5,624)	(1,440)
Induced conversion expense	0	53,889	0
Other	(1,503)	469	(200)
Changes in assets and liabilities:
Accounts receivable	(5,480)	(14,021)	(9,050)
Deferred contract acquisition and fulfillment costs	(4,196)	(18,534)	(15,910)
Prepaid expenses and other assets	2,805	(4,125)	(2,231)
Accounts payable	2,777	5,449	7,977
Accrued expenses	(9,829)	2,422	3,741
Deferred revenue	(795)	30,472	52,516
Other liabilities	4,273	(1,312)	2,493
Net cash provided by operating activities	171,670	104,278	78,204
Cash flows from investing activities:
Business acquisitions, net of cash acquired	(37,301)	(34,841)	0
Purchases of property and equipment	(3,425)	(4,366)	(20,382)
Capitalization of internal-use software	(14,162)	(15,878)	(17,145)
Purchases of investments	(242,494)	(276,829)	(122,765)
Sales and maturities of investments	250,500	150,450	121,304
Other investing activities	360	2,710	(1,000)
Net cash used in investing activities	(46,522)	(178,754)	(39,988)
Cash flows from financing activities:
Proceeds from issuance of convertible senior notes, net of issuance costs paid of $7,909	0	292,091	0
Purchase of capped calls related to convertible senior notes	0	(36,570)	0
Payment of debt issuance costs	0	0	(71)
Payments for repurchase of convertible senior notes	0	(199,998)	(12)
Payments related to business acquisitions	(500)	(2,250)	(300)
Proceeds from capped call settlement	0	17,518	0
Taxes paid related to net share settlement of equity awards	(4,730)	(5,570)	(7,462)
Proceeds from employee stock purchase plan	9,246	11,323	11,943
Proceeds from stock option exercises	1,566	3,053	3,318
Net cash provided by financing activities	5,582	79,597	7,416
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(2,756)	1,202	(2,845)
Net increase in cash, cash equivalents and restricted cash	127,974	6,323	42,787
Cash, cash equivalents and restricted cash, beginning of period	214,127	207,804	165,017
Cash, cash equivalents and restricted cash, end of period	342,101	214,127	207,804
Supplemental cash flow information:
Cash paid for interest on convertible senior notes	6,358	4,605	6,675
Cash paid for income taxes, net of refunds	8,949	1,624	1,571
Reconciliation of cash, cash equivalents and restricted cash:
Cash and cash equivalents	334,686	213,629	207,287
Restricted cash included in prepaid expenses and other current assets and other assets	7,415	498	517
Total cash, cash equivalents and restricted cash	$ 342,101	$ 214,127	$ 207,804

CONSOLIDATED STATEMENTS OF CA_2

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)
Convertible Debt
Payments of debt issuance costs	$ 7,909

Nature of the Business

Nature of the Business	12 Months Ended
	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of the Business	(1) Nature of Business Rapid7, Inc. and subsidiaries (“we,” “us” or “our”) are advancing security with visibility, analytics, and automation delivered through our Command Platform. Our solutions simplify the complex, allowing security teams to work more effectively with IT and development to reduce vulnerabilities, monitor for malicious behavior, investigate and shut down attacks, and automate routine tasks. Immaterial Correction of an Error During the fourth quarter of 2024, we identified an immaterial error related to stock-based compensation expense associated with certain restricted stock units (“RSUs”) and performance stock units (“PSUs”) granted during fiscal years 2023 and 2024 attributable to an improper valuation of the underlying awards, resulting in an understatement of stock-based compensation expense in 2023 and 2024. Based on an analysis of quantitative and qualitative factors in accordance with Staff Accounting Bulletin (“SAB”) No. 99, Materiality , and SAB No. 108, Considering the Effects of Prior Year Misstatements when Quantifying Misstatements in Current Year Financial Statements , and as described further in Note 20, Immaterial Correction of an Error

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	(2) Summary of Significant Accounting Policies (a) Basis of Presentation and Consolidation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). The consolidated financial statements include our results of operations and those of our wholly-owned subsidiaries. All intercompany transactions and balances have been eliminated in consolidation. (b) Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates, judgments and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. The management estimates include, but are not limited to the determination of standalone selling prices in revenue transactions with multiple performance obligations, the estimated period of benefit for deferred contract acquisition costs, the useful lives and recoverability of long-lived assets, the valuation for credit losses, the valuation of stock-based compensation, the fair value of assets acquired and liabilities assumed in business combinations, the valuation of contingent consideration in business combinations, the incremental borrowing rate for operating leases and the valuation for deferred tax assets. We base our estimates on historical experience and on various other assumptions that we believe are reasonable. Actual results could differ from those estimates. (c) Revenue Recognition We generate revenue primarily from: (1) product subscriptions from the sale of cloud-based subscriptions, managed services, term software licenses, content subscriptions and maintenance and support associated with our software licenses and (2) professional services from the sale of our deployment and training services related to our solutions, incident response services, penetration testing and security advisory services. We recognize revenue when a customer obtains control of promised products or services. The amount of revenue recognized reflects the consideration that we expect to be entitled to receive in exchange for these products or services. To achieve the core principle of this standard, we apply the following four steps: 1) Identify the contract with a customer We consider the terms and conditions of the contracts and our customary business practices in identifying our contracts. We determine we have a contract with a customer when the contract is approved, we can identify each party’s rights regarding the services to be transferred, we can identify the payment terms for the services, and we have determined the customer has the ability and intent to pay and the contract has commercial substance. We apply judgment in determining the customer’s ability and intent to pay, which is based on a variety of factors, including the customer’s historical payment experience or, in the case of a new customer, credit and financial information pertaining to the customer. 2) Identify the performance obligations in the contract Performance obligations promised in a contract are identified based on the products and services that will be transferred to the customer that are both capable of being distinct, whereby the customer can benefit from the product or service either on its own or together with other resources that are readily available from third parties or from us, and are distinct in the context of the contract, whereby the transfer of the products or services is separately identifiable from other promises in the contract. 3) Determine the transaction price The transaction price is determined based on the consideration to which we expect to be entitled in exchange for transferring products or services to the customer. Variable consideration is included in the transaction price if, in our judgment, it is probable that no significant future reversal of cumulative revenue under the contract will occur. In instances where the timing of revenue recognition differs from the timing of invoicing, we have determined our contracts generally do not include a significant financing component. The primary purpose of our invoicing terms is to provide customers with simplified and predictable ways of purchasing our products and services, not to receive financing from our customers or to provide customers with financing. Examples include invoicing at the beginning of a subscription term with revenue recognized ratably over the contract period. Sales through our channel network of distributors and resellers are generally discounted as compared to the price that we would sell to an end user. Revenue for sales through our channel network is recorded net of any distributor or reseller margin. If the contract contains a single performance obligation, the entire transaction price is allocated to the single performance obligation. The majority of our contracts with customers contain multiple performance obligations. For these contracts, we account for individual performance obligations separately if they are distinct. The transaction price is allocated to the separate performance obligations on a relative standalone selling price (“SSP”) basis. We determine SSP of our products and services based on our overall pricing objectives using all information reasonably available to us, taking into consideration market conditions and other factors, including the geographic locations of our customers, negotiated discounts from price lists and selling method (i.e., partner or direct). When available, we use directly observable stand-alone transactions to determine SSP. When not regularly sold on a stand-alone basis, we estimate SSP for our products and services utilizing historical sales data, including discounts from list price. The historical data is aggregated and analyzed by geographic location and selling method to establish a median or average price. Once SSP is established it is applied consistently to all transactions including that product or service utilizing a portfolio approach. 4) Recognize revenue when or as we satisfy a performance obligation Revenue is recognized at the time the related performance obligation is satisfied by transferring the promised product or service to a customer. Revenue is recognized when control of the products or services is transferred to our customers, in an amount that reflects the consideration that we expect to receive in exchange for those products or services. Product Subscriptions Product subscriptions consists of revenue from our cloud-based subscription, term software licenses, managed services offerings, content subscriptions and maintenance and support associated with our software licenses. • We generate cloud-based subscription revenue primarily from sales of subscriptions to access our cloud platform, together with related support services to our customers. These arrangements do not provide the customer with the right to take possession of our software operating on our cloud platform at any time. Instead, customers are granted continuous access to our cloud platform over the contractual period. Revenue is recognized over time on a ratable basis over the contract term beginning on the date that our service is made available to the customer. Our cloud-based subscription contracts generally have annual or multi-year contractual terms which are billed in advance of the annual subscription period and are non-cancellable. • Managed services offerings consist of fees generated when we operate our software and provide our capabilities on behalf of our customers. Revenue is recognized on a ratable basis over the contract term beginning on the date that our service is made available to the customer. Our managed services offerings generally have annual or multi-year contractual terms which are billed in advance of the annual subscription period and are non-cancellable. • For our term software licenses where the utility to the customer is dependent on the continued delivery of content subscriptions, we recognize the license revenue over the contractual term of the content subscription. • Content subscriptions and our maintenance and support services are sold with our term software licenses. Revenue related to our content subscriptions associated with our software licenses is recognized ratably over the contractual period. Professional Services All of our professional services are considered distinct performance obligations when sold stand alone or with other products. These contracts generally have terms of one year or less. For the majority of these arrangements, revenue is recognized over time based upon the proportion of work performed to date. Contract Balances Contract liabilities consist of deferred revenue and include payments received in advance of performance under the contract. Such amounts are recognized as revenue over the contractual period consistent with the above methodology. For the year ended December 31, 2024, we recognized revenue of $457.5 million that was included in the corresponding contract liability balance at the beginning of the period presented. Deferred revenue that will be realized during the succeeding 12-month period is recorded as current, and the remaining deferred revenue is recorded as non-current. We receive payments from customers based upon contractual billing schedules. Accounts receivable are recorded when the right to consideration becomes unconditional. Unbilled receivables include amounts related to our contractual right to consideration for both completed and partially completed performance obligations that have not been invoiced. If the right to consideration is based on satisfaction of another performance obligation in the contract other than the passage of time, we would record a contract asset. As of December 31, 2024 and 2023, unbilled receivables of $2.5 million and $2.0 million are included in prepaid expenses and other current assets in our consolidated balance sheet. As of December 31, 2024 and 2023, we have no contract assets recorded on our consolidated balance sheet. (d) Cash, Cash Equivalents and Restricted Cash We consider all highly liquid instruments with original maturities of three months or less at the date of purchase to be cash equivalents. Cash and cash equivalents are recorded at cost, which approximates fair value. As of December 31, 2024, we had $7.4 million of restricted cash recorded on our consolidated balance sheet as a component of prepaid expenses and other current assets associated with cash collateralized letters of credit with expirations within twelve months of the balance sheet date which relate to certain long-term office space leases. (e) Investments Our investments consist o f U.S. Government agencies. We classify our investments as available-for-sale and record these investments at fair value. When the fair value of an investment declines below its amortized cost basis, any portion of that decline attributable to credit losses, to the extent expected to be nonrecoverable before the sale of the security, is recognized in our consolidated statements of operations. When the fair value of the investment declines below its amortized cost basis due to changes in interest rates, such amounts are recorded in accumulated other comprehensive income (loss), and are recognized in our consolidated statement of operations only if we sell or intend to sell the security before recovery of its cost basis. Realized gains and losses are determined based on the specific identification method, and are reflected in our consolidated statements of operations. Investments with an original maturity of greater than three months at the date of purchase and less than one year from the date of the balance sheet are classified as short-term and those with maturities of more than one year from the date of the balance sheet are classified as long-term in the consolidated balance sheet. We do not invest in any securities with contractual maturities greater than 24 months. (f) Accounts Receivable and Allowance for Credit Losses Accounts receivable are recorded at the invoiced amount, net of allowances for credit losses for any potential uncollectible amounts. We maintain an allowance for estimated credit losses resulting from the inability of our customers to make required payments. Management regularly reviews the adequacy of the allowance for credit loss based upon historical collection experience, the age of the receivable, an evaluation of each customer's expected ability to pay and current and future economic and market conditions. Additions to the allowance for credit losses are recorded in general and administrative expense in the consolidated statement of operations. Accounts receivable deemed uncollectible are charged against the allowance for credit losses. We do not have any off-balance sheet credit exposure related to our customers. (g) Concentration of Credit Risk Financial instruments that potentially expose us to concentrations of credit risk consist primarily of cash and cash equivalents, accounts receivable, investments and derivative financial instruments. We invest only in high-quality credit instruments and our cash and cash equivalents and available for sale investments consist primarily of fixed income securities. Management believes that the financial institutions that hold our investments are financially sound and, accordingly, are subject to minimal credit risk. Deposits held with banks may exceed the amount of insurance provided on such deposits. We provide credit to customers in the normal course of business. Collateral is not required for accounts receivable, but ongoing credit evaluations of customers’ financial condition are performed. We maintain reserves for potential credit losses. No single customer, including channel partners, accounted for 10% or more of our total revenues in 2024, 2023 or 2022 or accounts receivable as of December 31, 2024 or 2023. Our derivative financial instruments expose us to credit risk to the extent that the counterparties may be unable to meet the terms of the arrangement. We mitigate this credit risk by transacting with major financial institutions with high credit ratings. (h) Deferred Contract Acquisition Costs We defer contract costs that are recoverable and incremental to obtaining customer contracts. Contract costs, which primarily consist of sales commissions, are amortized on a systematic basis that is consistent with the transfer to the customer of the goods or services to which the asset relates. Contract costs for a new customer, upsell or cross-sell are amortized on a straight-line basis over an estimated period of benefit of five years as sales commissions on initial sales are not commensurate with sales commissions on contract renewals. We determined the estimated period of benefit by taking into consideration the contractual term and expected renewals of customer contracts, our technology and other factors, including the fact that sales commissions paid on renewals are not commensurate with commissions paid on initial sales transactions. Contract costs relating to contract renewals are deferred and amortized on a straight-line basis over the weighted average contract length of renewal contracts. Contract costs for professional services arrangements are expensed as incurred in accordance with the practical expedient as the contractual period of our professional services arrangements is one year or less. We classify deferred contract costs as short-term or long-term based on when we expect to recognize the expense. Amortization expense associated with deferred contract acquisition costs is recorded to sales and marketing expense in our consolidated statements of operations. We periodically review the carrying amount of deferred contract acquisition costs to determine whether events or changes in circumstances have occurred that could impact the period of benefit. (i) Property and Equipment Property and equipment are recorded at cost and depreciated over their estimated useful lives using the straight-line method. The following table presents the useful lives of our property and equipment: Useful Lives Computer equipment and software 3 years Furniture and fixtures 3 - 5 years Leasehold improvements Shorter of the useful life of the asset or the lease term Repairs and maintenance costs are expensed as incurred. (j) Software Development Costs Software development costs associated with the development of products for sale are recorded to research and development expense until technological feasibility has been established for the product. Once technological feasibility is established, all software costs are capitalized until the product is available for release to customers. To date, the software development costs have not been capitalized as the cost incurred and time between technological feasibility and product release was insignificant. As such, these costs are expensed as incurred and recognized in research and development expenses in our consolidated statements of operations. Costs related to software developed, acquired or modified for internal use are capitalized. Costs incurred during the preliminary planning and evaluation stage of the project and during the post implementation stages of the project are expensed as incurred. Costs incurred during the application development stage of the project are capitalized. These capitalized costs consist of internal compensation related costs and external direct costs. Costs related to software developed for internal use are amortized over an estimated useful life of 3 years. We capitalized $14.2 million , $15.9 million and $17.1 million of costs related to software developed for internal use in the years ended December 31, 2024, 2023 and 2022, respectively. In the years ended December 31, 2024 and 2023, we had impairment losses of capitalized internal-use software projects of $0.7 million and $3.5 million, respectively, which was expensed within research and development expense in our consolidated statements of operations. Management evaluates the useful lives of these assets on an annual basis and tests for impairment whenever events or changes in circumstances occur that could impact the recoverability of these assets. (k) Leases We determine whether an arrangement is or contains a lease at inception. We evaluate the classification of a lease at inception and, as necessary, at modification. Operating leases are recognized on the consolidated balance sheet as right-of-use (“ROU”) assets, lease liabilities and, if applicable, long-term lease liabilities. Operating lease ROU assets represent our right to use an underlying asset for the lease term. Operating lease liabilities represent our obligation to make payments arising from the lease. Operating lease ROU assets and liabilities are recognized at the present value of future lease payments at the lease commencement date. The implicit rate within our operating leases is generally not determinable and therefore we use the incremental borrowing rate at the lease commencement date to determine the present value of lease payments. We determine our incremental borrowing rate for each lease using our estimated borrowing rate, adjusted for various factors including level of collateralization, term and currency to align with the terms of the lease. The operating lease ROU asset also includes any lease prepayments and initial direct costs, offset by lease incentives. Operating lease cost is recognized on a straight-line basis over the lease term. Certain of our leases include options to extend or terminate the lease. An option to extend the lease is considered in connection with determining the ROU asset and lease liability when it is reasonably certain we will exercise that option. An option to terminate is considered unless it is reasonably certain we will not exercise the option. We account for lease and non-lease components as a single lease component and do not recognize operating lease ROU assets and lease liabilities for leases with a term of one year or less. (l) Impairment of Long-Lived Assets We evaluate our long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying value of these assets may not be recoverable. When such events or changes in circumstances occur, recoverability of these assets or asset groups is measured by a comparison of the carrying value of the assets to the future net undiscounted cash flows directly associated with the assets. If such assets or asset groups are considered to be impaired, the impairment recognized is the amount by which the carrying value exceeds the fair value of the assets or asset groups. For the year ended December 31, 2023, we determined that triggering events occurred which indicated that the carrying value of our ROU and other lease-related assets related to a change in usage of certain idle office space at our corporate headquarters in Boston, Massachusetts as well as idle office spaces located in Plano, Texas; Los Angeles, California; and Toronto, Canada may not be fully recoverable. As a result, we utilized discounted cash flow models to estimate the fair value of the asset groups taking into consideration the time period it will take to obtain sublessees, the applicable discount rate and the anticipated sublease income and calculated the corresponding impairment loss. We used prices and other relevant information generated by recent market transactions involving similar or comparable assets, as well as our historical experience in real estate transactions. In the year ended December 31, 2023, we recorded impairment losses of $30.8 million related to these idle office spaces, consisting of $22.2 million related to ROU assets and $8.6 million related to leasehold improvements associated with these leased office spaces. (m) Restructuring Expense We record restructuring expense when management commits to and approves a restructuring plan, the restructuring plan identifies all significant actions, the period of time to complete the restructuring plan indicates that significant changes to the restructuring plan are not likely to occur, and employees who are impacted have been notified of the pending involuntary termination. A restructuring plan generally includes significant actions involving employee-related severance charges, employee-related benefits, and other charges associated with the restructuring (collectively, “restructuring expense”). Restructuring expense is recorded within restructuring in the consolidated statement of operations. The restructuring liability accrued but not paid at the end of the reporting period is included within accrued expenses in the consolidated balance sheet. (n) Business Combinations We allocate the fair value of purchase consideration to the tangible asset acquired, liabilities assumed, and intangible assets acquired based on their estimated fair values. The excess of the fair value of purchase consideration over the fair value of these identifiable assets and liabilities is recorded as goodwill. During the measurement period, which may be up to one year from the acquisition date, we may record adjustments to the fair value of these assets acquired and liabilities assumed with the corresponding offset to goodwill. Upon the conclusion of the final determination of the fair value of assets acquired or liabilities assumed, any subsequent adjustments are recorded to the consolidated statements of operations. Determining the fair value of the tangible assets acquired, liabilities assumed and intangible assets requires management to make significant estimates and assumptions, especially with respect to intangible assets. Significant estimates in valuing certain intangible assets include, but are not limited to, cash flows that an asset is expected to generate in the future, technology migration curves, discount rates, and useful lives. While we use our best estimates and judgements, our estimates are inherently uncertain and subject to refinement. Contingent consideration arising from business combinations is recorded at fair value as a liability on the acquisition date and remeasured at each reporting date. Changes in fair value are recorded in general and administrative expense in the consolidated statements of operations. Determining the fair value of the contingent consideration each period requires management to make assumptions and judgments. These estimates involve inherent uncertainties, and if different assumptions had been used, the fair value of contingent consideration could have been materially different from the amounts recorded. Acquisition-related transaction costs are expensed as incurred. (o) Goodwill We perform an annual goodwill impairment test on the last day of each fiscal year and whenever events or changes in circumstances indicate that the carrying amount of this asset may exceed its fair value. For our goodwill impairment analysis, we operate with a single reporting unit. To test goodwill impairment, we perform a single-step goodwill impairment test to identify potential goodwill impairment. The single-step impairment test begins with an estimation of the fair value of a reporting unit. Goodwill impairment exists when the net assets of a reporting unit exceed its fair value. In performing the single step of the goodwill impairment testing and measurement process, we estimated the fair value of our single reporting unit using our market capitalization. Based upon our assessment performed as of December 31, 2024, we concluded the fair value of our single reporting unit exceeded its carrying value and there was no impairment of goodwill. (p) Foreign Currency The functional currency of our foreign subsidiaries is the U.S. dollar. We translate all monetary assets and liabilities denominated in foreign currencies into U.S. dollars using the exchange rates in effect at the balance sheet dates and non-monetary assets and liabilities using historical exchange rates. Foreign currency denominated expenses are re-measured using the average exchange rates for the period. Foreign currency transaction and re-measurement gains and losses are included in other income (expense), net in the consolidated statement of operations. In 2024, foreign currency transact ion gains a nd foreign currency re-measurement gains were $0.6 million and $3.8 million, respectively. In 2023, foreign currency transaction losses and foreign currency re-measurement losses were $1.4 million and $0.4 million, respectively. (q) Derivative and Hedging Activities We are exposed to currency exchange rate risk. Although the majority of our revenue is denominated in U.S. dollars, a portion of our operating expenses are denominated in foreign currencies, making them subject to fluctuations in foreign currency exchange rates. We enter into foreign currency derivative contracts, which we designate as cash flow hedges, to manage the foreign currency exchange risk associated with these expenses. Our derivative financial instruments are recorded at fair value and reported as either an asset or liability on our consolidated balance sheets. Gains or losses related to our cash flow hedges are recorded as a component of accumulated other comprehensive income (loss) in our consolidated balance sheets and are reclassified into the financial statement line item associated with the underlying hedged transaction in our consolidated statement of operations when the underlying hedged transaction is recognized in our earnings. If it becomes probable that the hedged transaction will not occur, the cumulative unrealized gain or loss is reclassified immediately from accumulated other comprehensive income (loss) into the financial statement line item associated with the underlying hedged transaction in our consolidated statement of operations. Derivatives designated as cash flow hedges are classified in our consolidated statements of cash flow in the same manner as the underlying hedged transaction, primarily within cash flow from operating activities. As of December 31, 2024 and 2023, our cash flow hedges have contractual maturities of eighteen months or less, and as of December 31, 2024 and 2023, outstanding forward contracts had a total notional value of $50.4 million and $49.5 million, respectively. The notional value represents the gross amount of foreign currency that will be bought or sold upon maturity of the forward contract. During the years ended December 31, 2024 and 2023, all cash flow hedges were considered effective. Refer to Note 6, Fair Value Measurements , for the fair values of our outstanding derivative instruments. (r) Stock-Based Compensation Stock-based compensation expense related to our stock options, restricted stock units (“RSUs”), performance-based restricted stock units (“PSUs”) and purchase rights issued under our 2015 Employee Stock Purchase Plan (“ESPP”) is calculated based on the estimated fair value of the award on the grant date. The fair values of RSUs and PSUs are based on the value of our common stock on the date of grant. The fair values of stock options and ESPP purchase rights are estimated on the grant date using the Black-Scholes option pricing model which requires management to make a number of assumptions, including the expected life of the option, the volatility of the underlying stock, the risk-free interest rate and expected dividends. The assumptions used in our Black-Scholes option-pricing model represent management’s best estimates at the time of grant. These estimates involve a number of variables, uncertainties and assumptions and the application of management’s judgment, as they are inherently subjective. If any assumptions change, our stock-based compensation expense could be materially different in the future. The fair value is recognized as expense on a straight-line basis over the requisite service period, which is generally the vesting period of the respective award. The actual number of PSUs earned and eligible to vest are determined based on the performance conditions defined when the awards are granted. We recognize share-based compensation expense for the PSUs on a straight-line basis over the requisite service period for each separately vesting portion of the award when it is probable that the performance conditions will be achieved. We reassess the probability of vesting at each reporting period for awards with performance conditions and adjust stock-based compensation cost based on its probability assessment. We recognize forfeitures as they occur and do not estimate a forfeiture rate when calculating the stock-based compensation expense. (s) Advertising Advertising costs are expensed as incurred and are recorded in sales and marketing expense in our consolidated statement of operations. We incurred $21.7 million , $22.4 million, and $22.7 million in advertising expense in 2024, 2023, and 2022, respectively. (t) Income Taxes Income taxes are accounted for using the asset and liability method. Under this method, deferred tax assets and liabilities are recognized for differences between the consolidated financial statements carrying amounts of assets and liabilities and their respective income tax bases, and operating loss and tax credit carryforwards using enacted tax rates expected to apply to taxable income in the years in which the differences are expected to reverse. Deferred tax assets are reduced by a valuation allowance if it is more likely than not that some or all of the deferred tax assets will not be realized. Significant judgment is required in determining any valuation allowance recorded against deferred tax assets. In assessing the need for a valuation allowance, we consider all available evidence, including past operating results, estimates of future taxable income, and the feasibility of tax planning strategies. In the event that we change our determination as to the amount of deferred tax assets that can be realized, we will adjust our valuation allowance with a corresponding impact to the provision for income taxes in the period in which such determination is made. We recognize tax provision from uncertain tax positions if it is more likely than not that the tax position will be sustained on examination by the taxing authorities based on the technical merits of the position. Interest and penalties associated with such uncertain tax positions are classified as a component of income tax expense. (u) Net Income (Loss) per Share We calculate basic net income (loss) per share by dividing our net loss by the weighted-average number of common shares outstan

Revenue from Contracts with Cus

Revenue from Contracts with Customers	12 Months Ended
	Dec. 31, 2024
Revenue from Contract with Customer [Abstract]
Revenue from Contracts with Customers	(3) Revenue from Contracts with Customers The following table summarizes the revenue by region based on the shipping address of customers who have contracted to use our product or service for the years ended December 31, 2024, 2023 and 2022: Year Ended December 31, 2024 2023 2022 (in thousands) North America $ 643,405 $ 607,448 $ 541,812 Rest of world 200,602 170,259 143,271 Total revenue $ 844,007 $ 777,707 $ 685,083 Transaction Price Allocated to the Remaining Performance Obligations The following table includes estimated revenue expected to be recognized in the future related to performance obligations that are unsatisfied or partially unsatisfied as of December 31, 2024. The estimated revenues do not include unexercised contract renewals. Next Twelve Months Thereafter (in thousands) Product subscriptions $ 587,450 $ 291,435 Professional services 14,167 5,334 Total $ 601,617 $ 296,769 (9) Deferred Contract Acquisitions and Fulfillment Costs The following table summarizes the activity of the deferred contract acquisition and fulfillment costs, which primarily consist of capitalized sales commissions, for the years ended December 31, 2024 and 2023: Year Ended December 31, 2024 2023 (in thousands) Beginning balance $ 121,609 $ 103,075 Capitalization of contract acquisition and fulfillment costs 57,796 60,528 Amortization of deferred contract acquisition and fulfillment costs (53,599) (41,994) Ending balance $ 125,806 $ 121,609

Business Combinations

Business Combinations	12 Months Ended
	Dec. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Business Combinations	(4) Business Combinations Noetic Cyber, Inc. On July 3, 2024, we acquired Noetic Cyber, Inc. (“Noetic”) a provider of cyber asset attack surface management, to extend Rapid7’s security operations platform by unlocking more accessible and accurate asset inventory in order to provide customers more comprehensive visibility to their attack surface, for a purchase price with an aggregate fair value of $51.2 million. The purchase consideration consisted of $38.6 million in cash paid at closing, $12.1 million of contingent consideration and $0.5 million of deferred cash payments. The deferred cash payments were held by Rapid7 to satisfy certain post-closing purchase price adjustments and payment was made during the fourth quarter of 2024. Subject to the terms of the merger agreement, we are required to pay consideration of up to $20.0 million to Noetic shareholders based on the achievement of certain performance targets (the “Earnout Consideration”), measured annually upon the first, second and third anniversaries of the closing date of the transaction (the “Earnout Period”). If all performance targets are achieved, approximately $13.1 million of Earnout Consideration will be paid in cash, and the remaining $6.9 million of Earnout Consideration will be issued to certain employees in the form of shares of our common stock subject to continued employment requirements over the Earnout Period. The approximate $6.9 million of the Earnout Consideration that is subject to continued employment will be recognized as stock-based compensation expense over the required employment period. The fair value of the portion of the Earnout Consideration that is not subject to continued employment is included as part of purchase consideration at the date of the acquisition. As of July 3, 2024, we determined the fair value of the contingent purchase consideration to be $12.1 million. The fair value of the contingent purchase consideration will be reassessed each reporting period and any required adjustment will be recorded to general and administrative expense. As of December 31, 2024, the fair value of the contingent purchase consideration was $12.4 million, of which $6.9 million was recorded within accrued expenses and other current liabilities and $5.5 million was recorded within other liabilities in our consolidated balance sheet. In the year ended December 31, 2024, we recorded approximately $0.4 million of accretion expense related to the contingent purchase consideration to general and administrative expense. In connection with the acquisition, we expect to issue an aggregate value of $2.3 million of our common stock to two key employees of Noetic in three installments over a 36-month period following the closing date of the transaction, subject to continued employment requirements (the “Key Employee Consideration”) and therefore will be recognized as stock-based compensation expense over the required employment period. The number of shares to be issued at each issuance date for both the Earnout Consideration and the Key Employee Consideration shares will be determined by dividing the aggregate value by the fair market value of our common stock on the issuance date, and therefore will be liability-classified until the final issuance dates. In the year ended December 31, 2024 , we recognized stock-based compensation expense related to such shares in the amount of $2.1 million. The following table summarizes the preliminary allocation of purchase price to the estimated fair value of the assets acquired and liabilities assumed at the acquisition date (in thousands): Consideration: Cash $ 38,597 Deferred cash consideration 500 Contingent consideration 12,055 Fair value of total consideration transferred $ 51,152 Recognized amount of identifiable assets acquired and liabilities assumed: Cash and cash equivalents $ 1,296 Accounts receivable 510 Prepaid and other current assets 102 Property and equipment, net 19 Accrued expenses and other current liabilities (220) Deferred revenue (910) Other long-term liabilities (62) Intangible asset 11,500 Total identifiable net assets assumed $ 12,235 Goodwill 38,917 Total purchase price allocation $ 51,152 We identified developed technology as the sole acquired intangible asset. The estimated fair value of the developed technology intangible asset was $11.5 million which was based on a valuation using a probability weighted expected return model (“PWERM”). The estimated useful life of the developed technology is 7 years. The excess of the purchase price over the tangible assets acquired, identifiable intangible asset acquired and assumed liabilities was recorded as goodwill. We believe that the amount of goodwill reflects the expected synergistic benefits of being able to leverage the integration of the technology acquired with our existing product offerings and being able to successfully market and sell these new features to our customer base. The goodwill was allocated to our one reporting unit. The acquired goodwill and intangible asset were not deductible for tax purposes. In the year ended December 31, 2024 , we recorded $0.8 million of acquisition-related transaction costs related to the acquisition of Noetic to general and administrative expense. Our revenue and net loss attributable to the Noetic business for the year ended December 31, 2024 was not material. Minerva Labs Ltd. On March 14, 2023, we acquired Minerva Labs Ltd. (“Minerva”), a leading provider of anti-evasion and ransomware prevention technology, for a purchase price with an aggregate fair value of $34.6 million . The purchase consideration consisted of $35.0 million paid in cash at closing and a $(0.4) million receivable for purchase price adjustments. The assets acquired and liabilities assumed were recorded at their estimated fair values as of the acquisition date. The excess of the purchase price over the assets acquired and liabilities assumed was recorded as goodwill. The fair value of net assets acquired (including intangible assets), goodwill and intangible assets were $13.9 million , $20.7 million and $12.8 million , respectively. The goodwill was allocated to our one reporting unit. The acquired goodwill and intangible assets were not deductible for tax purposes.

Investments

Investments	12 Months Ended
	Dec. 31, 2024
Investments, Debt and Equity Securities [Abstract]
Investments	(5) Investments Our investments, which are all classified as available-for-sale, consisted of the following: As of December 31, 2024 Amortized Gross Gross Fair Value (in thousands) Description: U.S government agencies $ 224,187 $ 328 $ (216) $ 224,299 Total $ 224,187 $ 328 $ (216) $ 224,299 As of December 31, 2023 Amortized Gross Gross Fair Value (in thousands) Description: U.S government agencies $ 222,820 $ 467 $ (65) $ 223,222 Agency bonds 2,500 — (7) 2,493 Total $ 225,320 $ 467 $ (72) $ 225,715 As of December 31, 2024, our available-for-sale investments had maturities ranging from 1 to 17 months. As of December 31, 2023, our available-for-sale investments had maturities ranging from 1 to 18 months.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	(6) Fair Value Measurements We measure certain financial assets and liabilities at fair value. Fair value is determined based upon the exit price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants, as determined by either the principal market or the most advantageous market. Inputs used in the valuation techniques to derive fair values are classified based on a three-level hierarchy, as follows: • Level 1 : Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets. • Level 2 : Observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which all significant inputs are observable or can be derived principally from or corroborated by observable market data for substantially the full term of the assets or liabilities. • Level 3 : Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the asset or liability. We consider an active market to be one in which transactions for the asset or liability occur with sufficient frequency and volume to provide pricing information on an ongoing basis, and consider an inactive market to be one in which there are infrequent or few transactions for the asset or liability, the prices are not current, or price quotations vary substantially either over time or among market makers. The following table presents our financial assets and liabilities measured and recorded at fair value on a recurring basis using the above input categories: As of December 31, 2024 Level 1 Level 2 Level 3 Total (in thousands) Description: Assets: U.S. government agencies $ 224,299 $ — $ — $ 224,299 Foreign currency forward contracts designated as cash flow hedges (prepaid expenses and other current assets) — 96 — 96 Total assets $ 224,299 $ 96 $ — $ 224,395 Liabilities: Contingent consideration (other current liabilities and other long-term liabilities) $ — $ — $ 12,422 $ 12,422 Foreign currency forward contracts designated as cash flow hedges (other current and long-term liabilities) — 1,415 — 1,415 Total liabilities $ — $ 1,415 $ 12,422 $ 13,837 As of December 31, 2023 Level 1 Level 2 Level 3 Total (in thousands) Description: Assets: U.S. government agencies $ 223,222 $ — $ — $ 223,222 Agency bonds — 2,493 — 2,493 Foreign currency forward contracts designated as cash flow hedges (prepaid expenses and other current assets and other assets) — 1,322 — 1,322 Total assets $ 223,222 $ 3,815 $ — $ 227,037 Liabilities: Foreign currency forward contracts designated as cash flow hedges (other current liabilities) $ — $ 55 $ — $ 55 Total liabilities $ — $ 55 $ — $ 55 Cash and cash equivalents are excluded from the table above as carrying amounts reported in our consolidated balance sheet equal or approximate fair value. As of December 31, 2024, the fair value of our 2.25%, 0.25% and 1.25% convertible senior notes due 2025, 2027 and 2029, as further described in Note 11, Debt , was $45.2 million, $553.5 million and $284.1 million , respectively, based upon quoted market prices. We consider the fair value of the Notes (as defined in Note 11, Debt

Property and Equipment

Property and Equipment	12 Months Ended
	Dec. 31, 2024
Property, Plant and Equipment [Abstract]
Property and Equipment	(7) Property and Equipment Property and equipment are recorded at cost and consist of the following: December 31, December 31, 2024 2023 (in thousands) Computer equipment and software $ 28,789 $ 26,442 Furniture and fixtures 10,960 10,850 Leasehold improvements 57,051 56,151 Total 96,800 93,443 Less accumulated depreciation (64,555) (53,801) Property and equipment, net $ 32,245 $ 39,642

Goodwill and Intangibles

Goodwill and Intangibles	12 Months Ended
	Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangibles	(8) Goodwill and Intangibles Goodwill was $575.3 million and $536.4 million as of December 31, 2024 and December 31, 2023, respectively. The following table displays the changes in the gross carrying amount of goodwill: Amount (in thousands) Balance at December 31, 2022 $ 515,631 Minerva acquisition 20,720 Balance at December 31, 2023 $ 536,351 Noetic acquisition 38,917 Balance at December 31, 2024 $ 575,268 The following table presents details of our intangible assets which include acquired identifiable intangible assets and capitalized internal-use software costs: Weighted- As of December 31, 2024 As of December 31, 2023 Gross Carrying Accumulated Net Book Value Gross Carrying Accumulated Net Book Value (in thousands) Intangible assets subject to amortization: Developed technology 6.1 $ 146,855 $ (94,193) $ 52,662 $ 135,355 $ (77,031) $ 58,324 Customer relationships 4.5 12,000 (10,363) 1,637 12,000 (7,755) 4,245 Trade names 3.1 2,619 (2,559) 60 2,619 (2,379) 240 Total acquired intangible assets $ 161,474 $ (107,115) $ 54,359 $ 149,974 $ (87,164) $ 62,810 Internal-use software 3.0 68,878 (37,518) 31,360 55,371 (23,635) 31,736 Total intangible assets $ 230,352 $ (144,633) $ 85,719 $ 205,345 $ (110,799) $ 94,546 Intangible assets are expensed on a straight-line basis over the useful life of the asset. Amortization expense was $33.8 million, $31.9 million and $27.5 million for the years ended December 31, 2024, 2023 and 2022, respectively. Estimated future amortization expense of the acquired identifiable intangible assets and completed capitalized internal-use software costs as of December 31, 2024 was as follows (in thousands): 2025 $ 32,532 2026 22,432 2027 10,016 2028 3,243 2029 3,243 2030 and thereafter 4,409 Total $ 75,875 The table above excludes the impact of $9.8 million of capitalized internal-use software costs for projects that have not been completed as of December 31, 2024, and therefore, all the costs associated with these projects have not been incurred.

Deferred Contract Acquisition a

Deferred Contract Acquisition and Fulfillment Costs	12 Months Ended
	Dec. 31, 2024
Revenue from Contract with Customer [Abstract]
Deferred Contract Acquisition and Fulfillment Costs	(3) Revenue from Contracts with Customers The following table summarizes the revenue by region based on the shipping address of customers who have contracted to use our product or service for the years ended December 31, 2024, 2023 and 2022: Year Ended December 31, 2024 2023 2022 (in thousands) North America $ 643,405 $ 607,448 $ 541,812 Rest of world 200,602 170,259 143,271 Total revenue $ 844,007 $ 777,707 $ 685,083 Transaction Price Allocated to the Remaining Performance Obligations The following table includes estimated revenue expected to be recognized in the future related to performance obligations that are unsatisfied or partially unsatisfied as of December 31, 2024. The estimated revenues do not include unexercised contract renewals. Next Twelve Months Thereafter (in thousands) Product subscriptions $ 587,450 $ 291,435 Professional services 14,167 5,334 Total $ 601,617 $ 296,769 (9) Deferred Contract Acquisitions and Fulfillment Costs The following table summarizes the activity of the deferred contract acquisition and fulfillment costs, which primarily consist of capitalized sales commissions, for the years ended December 31, 2024 and 2023: Year Ended December 31, 2024 2023 (in thousands) Beginning balance $ 121,609 $ 103,075 Capitalization of contract acquisition and fulfillment costs 57,796 60,528 Amortization of deferred contract acquisition and fulfillment costs (53,599) (41,994) Ending balance $ 125,806 $ 121,609

Derivative and Hedging Activiti

Derivative and Hedging Activities	12 Months Ended
	Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives and Hedging Activities	(10) Derivative and Hedging Activities To mitigate our exposure to foreign currency fluctuations resulting from certain expenses denominated in certain foreign currencies, we enter into forward contracts that are designated as cash flow hedging instruments. These forward contracts have contractual maturities of eighteen months or less, and as of December 31, 2024 and December 31, 2023, outstanding forward contracts had a total notional value of $50.4 million and $49.5 million, respectively. The notional value represents the gross amount of foreign currency that will be bought or sold upon maturity of the forward contract. During the years ended December 31, 2024 and 2023, all cash flow hedges were considered effective. Refer to Note 6, Fair Value Measurements , for the fair values of our outstanding derivative instruments.

Debt

Debt	12 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
Debt	(11) Debt Convertible Senior Notes In May 2020, we issued $230.0 million aggregate principal amount of convertible senior notes due May 1, 2025 (the “2025 Notes”), in March 2021, we issued $600.0 million aggregate principal amount of convertible senior notes due March 15, 2027 (the “2027 Notes”) and in September 2023, we issued $300.0 million aggregate principal amount of convertible senior notes due March 15, 2029 (the “2029 Notes”) (collectively, the “Notes”). In September 2023, we used $201.0 million of the proceeds from the issuance of the 2029 Notes to repurchase and retire $184.0 million aggregate principal amount of the 2025 Notes and paid accrued and unpaid interest thereon. Further details of the Notes are as follows: Issuance Maturity Date Interest Rate First Interest Payment Date Effective Interest Rate Semi-Annual Interest Payment Dates Initial Conversion Rate per $1,000 Principal Initial Conversion Price Number of Shares (in millions) 2025 Notes May 1, 2025 2.25% November 1, 2020 2.88% May 1 and November 1 16.3875 $ 61.02 0.8 2027 Notes March 15, 2027 0.25% September 15, 2021 0.67% March 15 and September 15 9.6734 $ 103.38 5.8 2029 Notes March 15, 2029 1.25% March 15, 2024 1.69% March 15 and September 15 15.4213 $ 64.85 4.6 The 2025 Notes, the 2027 Notes and the 2029 Notes are senior unsecured obligations, do not contain any financial covenants and are governed by indentures between the Company, as issuer, and U.S. Trust Company, Bank National Association, as trustee (the “Indentures”). The total net proceeds from the 2025 Notes, the 2027 Notes and the 2029 Notes offerings, after deducting initial purchase discounts and debt issuance costs, were $222.8 million, $585.0 million and $292.0 million, respectively. As of December 31, 2024, the 2027 Notes and the 2029 Notes were not convertible at the option of the holders. The 2025 Notes became convertible at the option of the holders effective November 1, 2024. The holders may convert the 2025 Notes, the 2027 Notes and the 2029 Notes at any time on or after November 1, 2024, December 15, 2026 and December 15, 2028, respectively, until the close of business on the second scheduled trading day immediately preceding the maturity date, regardless of the circumstances set forth above. Upon conversion, we will pay or deliver, as the case may be, cash, shares of our common stock or a combination of cash and shares of our common stock, at our election, in the manner and subject to the terms and conditions provided in the Indentures. If we undergo a fundamental change (as set forth in the Indentures) at any time prior to the maturity date, holders of the Notes will have the right, at their option, to require us to repurchase for cash all or any portion of their Notes at a repurchase price equal to 100% of the principal amount of the Notes to be repurchased, plus accrued and unpaid interest to, but excluding, the fundamental change repurchase date. In addition, following certain corporate events that occur prior to the maturity date or following our issuance of a notice of redemption, in each case as described in the Indentures, we will increase the conversion rate for a holder of the Notes who elects to convert its Notes in connection with such a corporate event or during the related redemption period in certain circumstances. Accounting for the Notes In accounting for the issuance of the Notes, the principal less debt issuance costs are recorded as debt on our consolidated balance sheet. The debt issuance costs are amortized to interest expense using the effective interest method over the contractual term of the Notes. The net carrying amount of the Notes as of December 31, 2024 and December 31, 2023 was as follows (in thousands): 2025 Notes 2027 Notes 2029 Notes Principal Unamortized debt issuance costs Total Principal Unamortized debt issuance costs Total Principal Unamortized debt issuance costs Total Balance at December 31, 2023 $ 45,992 $ (404) $ 45,588 $ 600,000 $ (8,077) $ 591,923 $ 300,000 $ (7,515) $ 292,485 Amortization of debt issuance costs — 307 307 — 2,513 2,513 — 1,435 1,435 Balance at December 31, 2024 $ 45,992 $ (97) $ 45,895 $ 600,000 $ (5,564) $ 594,436 $ 300,000 $ (6,080) $ 293,920 Interest expense related to the Notes was as follows (in thousands): Year Ended December 31, 2024 2023 2022 2025 Notes 2027 Notes 2029 Notes Total 2025 Notes 2027 Notes 2029 Notes Total 2025 Notes 2027 Notes Total Contractual interest expense $ 1,035 $ 1,500 $ 3,749 $ 6,284 $ 3,795 $ 1,500 $ 1,167 $ 6,462 $ 5,174 $ 1,502 $ 6,676 Amortization of debt issuance costs 307 2,513 1,435 4,255 1,066 2,487 394 3,947 1,425 2,468 3,893 Induced conversion expense — — — — 53,889 — — 53,889 — — — Total interest expense $ 1,342 $ 4,013 $ 5,184 $ 10,539 $ 58,750 $ 3,987 $ 1,561 $ 64,298 $ 6,599 $ 3,970 $ 10,569 Capped Calls In connection with the offering of the 2025 Notes, the 2027 Notes and the 2029 Notes, we entered into privately negotiated capped call transactions with certain counterparties (the “2025 Capped Calls”, “2027 Capped Calls” and “2029 Capped Calls”) (collectively, the “Capped Calls”). The Capped Calls are expected to reduce potential dilution to our common stock upon conversion of a given series of notes and/or offset any cash payments that we are required to make in excess of the principal amount of converted notes of such series, as the case may be, with such reduction and/or offset subject to a cap. The Capped Calls are subject to adjustment upon the occurrence of certain specified extraordinary events affecting us, including merger events, tender offers and announcement events. In addition, the Capped Calls are subject to certain specified additional disruption events that may give rise to a termination of the Capped Calls, including nationalization, insolvency or delisting, changes in law, failures to deliver, insolvency filings and hedging disruptions. The following table sets forth other key terms and premiums paid for the Capped Calls related to each series of Notes: Capped Calls Entered into in Connection with the Issuance of the 2025 Notes Capped Calls Entered into in Connection with the Issuance of the 2027 Notes Capped Calls Entered into in Connection with the Issuance of the 2029 Notes Initial strike price, subject to certain adjustments $ 61.02 $ 103.38 $ 64.85 Cap price, subject to certain adjustments $ 93.88 $ 159.04 $ 97.88 Total premium paid (in thousands) $ 27,255 $ 76,020 $ 36,570 Expiration dates March 4, 2025 - April 29, 2025 January 1, 2027 - March 11, 2027 February 13, 2029 - March 13, 2029 For accounting purposes, the 2025 Capped Calls, the 2027 Capped Calls and the 2029 Capped Calls are separate transactions, and not part of the terms of the 2025 Notes, the 2027 Notes and the 2029 Notes. The 2025 Capped Calls, 2027 Capped Calls and 2029 Capped Calls are recorded in stockholders' equity and are not accounted for as derivatives. Credit Agreement In April 2020, we entered into a Credit and Security Agreement, with KeyBank National Association that provided for a $30.0 million revolving credit facility, with a letter of credit sublimit of $15.0 million and an accordion feature under which we could increase the credit facility to up to $70.0 million. In May 2020, we utilized the accordion feature to increase the credit facility to $50.0 million. In December 2021, we entered into an Amendment Agreement in respect of our Credit and Security Agreement (as amended, the "Credit Agreement"), with KeyBank National Association, to, among other things, increase the credit facility from $50.0 million to $100.0 million and extend the maturity date to December 22, 2024. The Credit Agreement provided for a $100.0 million revolving credit facility, with a letter of credit sublimit of $15.0 million, and an accordion feature under which we could increase the credit facility to up to $150.0 million. We incurred fees of $0.4 million in connection with entering into the Credit Agreement, which were recorded in other current assets on the consolidated balance sheet and amortized on a straight-line basis over the contractual term of the arrangement. The commitment fee of 0.2% per annum on the unused portion of the credit facility is expensed as incurred and included within interest expense on the consolidated statement of operations. The Credit Agreement contained certain financial covenants including a requirement that we maintain specified minimum recurring revenue and liquidity amounts. The borrowings under the Credit Agreement bear interest, at our option, at a rate equal to either (i) term SOFR plus a credit spread adjustment of 0.10% per annum plus a margin of 2.50% per annum or (ii) the alternate base rate (subject to a floor), plus an applicable margin equal to 0% per annum.

Leases

Leases	12 Months Ended
	Dec. 31, 2024
Leases [Abstract]
Leases	(12) Leases Our leases primarily relate to office facilities that have remaining terms of up to 7.3 years , some of which include one or more options to renew with renewal terms of up to 5 years and some of which include options to terminate the leases within 1 year . All of our leases are classified as operating leases. The components of lease expense were as follows: Year Ended December 31, 2024 2023 (in thousands) Operating lease costs $ 16,129 $ 16,776 Short-term lease costs 951 1,259 Variable lease costs 8,825 8,219 Total lease costs $ 25,905 $ 26,254 Supplemental balance sheet information related to the operating leases was as follows: As of December 31, 2024 As of December 31, 2023 Weighted average remaining lease term (in years) - operating leases 4.9 5.7 Weighted average discount rate - operating leases 6.4 % 6.4 % Supplemental cash flow information related to leases was as follows: Year Ended December 31, 2024 2023 (in thousands) Cash paid for amounts included in the measurement of lease liabilities $ 22,870 $ 19,999 ROU assets obtained in exchange for new lease obligations $ 4,488 $ 8,119 Maturities of operating lease liabilities as of December 31, 2024 were as follows (in thousands): 2025 $ 20,926 2026 18,941 2027 18,761 2028 19,333 2029 16,601 2030 and thereafter 3,275 Total lease payments $ 97,837 Less: imputed interest (13,914) Total $ 83,923 During the year ended December 31, 2023, we determined that triggering events occurred which indicated that the carrying value of our right-of-use (“ROU”) and other lease-related assets related to a change in usage of certain idle

Stock-Based Compensation

Stock-Based Compensation	12 Months Ended
	Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	(13) Stock-Based Compensation ( a) General In connection with our IPO, our board of directors resolved not to make future grants under our 2011 Stock Option and Grant Plan (the “2011 Plan”). The 2011 Plan will continue to govern outstanding awards granted thereunder. The 2011 Plan provided for the grant of qualified incentive stock options and nonqualified stock options or other awards such as restricted stock awards (“RSAs”) to our employees, officers, directors and outside consultants. In July 2015, our board of directors adopted and our stockholders approved our 2015 Equity Incentive Plan (the “2015 Plan”). We initially reserved 800,000 shares of our common stock for the issuance of awards under the 2015 Plan plus the number of shares of common stock reserved for issuance under the 2011 Plan at the time the 2015 Plan became effective. The 2015 Plan also provides that (i) any shares subject to awards granted under the 2011 Plan that would have otherwise returned to the 2011 Plan (such as upon the expiration or termination of a stock award prior to vesting) will be added to, and available for issuance under, the 2015 Plan and (ii) the number of shares reserved and available for issuance under the 2015 Plan automatically increases each January 1, beginning on January 1, 2016, by 4% of the outstanding number of shares of our common stock on the immediately preceding December 31 (known as the “evergreen” provision) or such lesser number of shares as determined by our board of directors. Additionally, on October 8, 2015, our board of directors amended the 2015 Plan to reserve an additional 1,500,000 shares of our common stock for issuance of inducement awards. As of December 31, 2024, the shares of common stock authorized to be issued under the 2015 Plan totaled 25,042,693 and there were 6,118,316 shares of common stock available for grant. We recognize stock-based compensation expense for all awards on a straight-line basis over the applicable vesting period, which is generally three Stock-based compensation expense for restricted stock units (“RSUs”), performance-based restricted stock units (“PSUs”), stock options, purchase rights issued under our employee stock purchase plan (“ESPP”) and earnout consideration and key employee consideration shares related to acquisitions was classified in the accompanying consolidated statements of operations as follows: Year Ended December 31, 2024 2023 2022 (in thousands) Stock-based compensation expense: Cost of revenue $ 12,208 $ 11,005 $ 10,367 Research and development 37,566 39,183 49,940 Sales and marketing 28,718 30,350 31,217 General and administrative 29,469 31,098 28,378 Total stock-based compensation expense $ 107,961 $ 111,636 $ 119,902 The unrecognized stock-based compensation expense and estimated weighted average amortization periods remaining at December 31, 2024 was as follows: Unrecognized Compensation Expense Weighted-Average Amortization Period Remaining (in thousands) (in years) RSUs and PSUs $ 137,525 1.9 Purchase rights under our ESPP $ 1,734 0.6 Earnout and key employee consideration shares $ 7,391 1.8 Our Compensation Committee adopted and approved the performance goals, targets and payout formulas for our 2024, 2023 and 2022 bonus plans, including permitting our executive officers and certain other employees the opportunity to receive payment of their earned bonuses in the form of common stock (in lieu of cash). For the years ended December 31, 2024, 2023, and 2022, we recognized stock-based compensation expense related to such bonuses in the amount of $0.9 million, $1.6 million and $1.0 million, respectively, based on the probable expected performance against the pre-established corporate financial objectives as of December 31, 2024, 2023 and 2022. For employees, including executive officers, who elect to receive their bonuses in the form of common stock (in lieu of cash), the payouts are expected to be made in the form of fully vested stock awards in the first quarter of the following year pursuant to our 2015 Equity Incentive Plan, as amended. The number of shares underlying such awards is determined by dividing the dollar value of the actual bonus award payment by the closing price per share of our common stock on the date of grant. (b) Restricted Stock, Restricted Stock Units and Performance-Based Restricted Stock Units RSUs and PSUs activity during 2024, 2023, and 2022 was as follows: Shares Weighted- Unvested balance as of December 31, 2021 2,778,877 $ 74.40 Granted 2,327,216 86.78 Vested (1,481,333) 69.80 Forfeited (623,317) 85.93 Unvested balance as of December 31, 2022 3,001,443 83.88 Granted 2,304,140 48.83 (1) Vested (1,453,713) 73.29 (1) Forfeited (1,137,444) 67.93 (1) Unvested balance as of December 31, 2023 2,714,426 66.40 (1) Granted 2,563,810 53.99 Vested (1,462,352) 64.78 Forfeited (962,649) 62.16 Unvested balance as of December 31, 2024 2,853,235 $ 57.25 (1) The weighted average grant date fair values for RSUs and PSUs granted, vested and forfeited during fiscal year 2023, as well as the weighted average grant date fair value of awards unvested as of December 31, 2023 have been revised from prior period disclosures. Refer to Note 20, Immaterial Correction of an Error , for further information. In January 2024, our Compensation Committee awarded 279,570 PSUs that required the achievement of net annualized recurring revenue (“Net ARR”) and Adjusted EBITDA targets for the 2024 full-year to earn any payout. Net ARR is defined as the change in the annual value of all recurring revenue related to contracts in place at year end. In addition, the portion of the PSUs that are earned would be capped at a maximum of 200% of the target level payout and if certain net ARR or Adjusted EBITDA goals were not met, no PSUs will be earned. The PSUs have a performance period of one year and the earned PSUs will vest in three equal installments following each of the first, second and third anniversary of the vesting commencement date, subject to the participant’s continuous service as of each such date. The 2024 target level attainment was 50% and in the year ended December 31, 2024, we recorded $3.4 million of stock-based compensation expense related to these PSUs based on that level of attainment of the performance criteria. In July 2024, our Compensation Committee awarded 19,605 PSUs that required the achievement of certain milestones related to the integration of Noetic. The PSUs have three measurement and vesting dates through September 15, 2025, subject to the participant's continuous service as of each such date. If the milestones are not achieved, no PSUs will be earned. In the year ended December 31, 2024, we recorded $0.6 million of stock-based compensation expense related to these PSUs based on estimated achievement of the performance criteria. (c) Stock Options The following tables summarizes information about stock option activity during the reporting periods: Shares Weighted Weighted Aggregate Outstanding as of December 31, 2021 1,411,387 $ 10.74 $ 150,951 Granted — — Exercised (479,223) 6.92 $ 20,764 Forfeited/cancelled (38) 21.15 Outstanding as of December 31, 2022 932,126 12.70 $ 19,837 Granted — — Exercised (215,856) 14.14 $ 6,519 Forfeited/cancelled — — Outstanding as of December 31, 2023 716,270 12.26 $ 32,115 Granted — — Exercised (133,182) 11.75 $ 5,013 Forfeited/cancelled (450) 7.73 Outstanding as of December 31, 2024 582,638 12.38 1.2 $ 16,225 Vested and exercisable as of December 31, 2024 582,638 $ 12.38 1.2 $ 16,225 (d) Employee Stock Purchase Plan The number of shares reserved and available for issuance under our 2015 Employee Stock Purchase Plan (“ESPP”) automatically increases each January 1, beginning on January 1, 2016, by 1% of the outstanding number of shares of our common stock on the immediately preceding December 31 (known as the “evergreen” provision) or such lesser number of shares as determined by our board of directors. As of December 31, 2024, the shares of common stock authorized to be issued under the ESPP totaled 5,370,139 and there were 3,076,461 shares of common stock available for grant. Under the ESPP, employees may set aside up to 15% of their gross earnings, on an after-tax basis, to purchase our common shares at a discounted price, which is calculated at 85% of the lesser of: (i) the market value of our common stock at the beginning of each offering period and (ii) the market value of our common stock on the applicable purchase date. The fair value of shares issued under our ESPP is estimated on the grant date using the Black-Scholes option pricing model. The expected term represents the term from the first day of the offering period to the purchase dates within each offering period. The expected volatility is based on the historical volatilities of our own common stock. The risk-free interest rate is based on U.S. Treasury zero-coupon securities with maturities consistent with the estimated expected term. We have not paid dividends on our common stock nor do we expect to pay dividends in the foreseeable future. The following table reflects the assumptions used in the Black-Scholes option pricing model to calculate the expense related to the ESPP: Year Ended December 31, 2024 2023 2022 Expected term (in years) 0.5 - 1.0 0.5 - 1.0 0.5 - 1.0 Expected volatility 37 - 47% 47 - 68% 37 - 57% Risk-free interest rate 4.0 – 5.4% 4.5 – 5.5% 0.1 – 4.0% Expected dividend yield — — — Grant date fair value per share $9.96 – $17.25 $11.70 – $20.07 $15.50 –$29.58 The following table provides the number of common shares issued to employees, the purchase prices and aggregate proceeds for the purchase dates in the years ended December 31, 2024, 2023 and 2022: September 13, 2024 March 15, 2024 September 15, 2023 March 15, 2023 September 15, 2022 March 15, 2022 Common shares issued 144,445 147,445 152,419 177,886 218,314 80,747 Purchase prices $29.08 $33.78 and $39.78 $33.78 $34.71 $45.31 $67.59 and $81.37 Aggregate proceeds $ 4.2 million $ 5.0 million $ 5.1 million $ 6.1 million $6.2 million $5.7 million

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	(14) Income Taxes We have provided for current and deferred U.S. federal, state, and foreign income taxes for all tax jurisdictions in which we operate. Income (loss) before income taxes included in the consolidated statements of operations was as follows: Year Ended December 31, 2024 2023 2022 (in thousands) United States $ 35,699 $ (139,295) $ (109,381) Foreign 5,756 (14,038) (12,924) Income (loss) before income taxes $ 41,455 $ (153,333) $ (122,305) Income tax expense included in the consolidated statements of operations was as follows: Year Ended December 31, 2024 2023 2022 (in thousands) Current: Federal $ 2,426 $ 428 $ 1 State and local 2,848 1,361 243 Foreign 9,864 3,317 3,608 Total current tax expense 15,138 5,106 3,852 Deferred: Federal 12 9 10 State and local — 2 2 Foreign 779 (5,635) (1,452) Total deferred tax expense (benefit) 791 (5,624) (1,440) Total income tax expense (benefit) $ 15,929 $ (518) $ 2,412 The reconciliation of the federal statutory rate of 21% to the effective income tax rate for the years ended December 31, 2024, 2023 and 2022 was as follows: Year Ended December 31, 2024 2023 2022 Federal statutory rate 21.0 % 21.0 % 21.0 % State taxes, net of federal benefit 6.0 (0.5) (0.1) Permanent differences 7.0 (0.9) (0.2) Stock-based compensation 15.7 (7.0) (2.4) Research and development credits (18.5) 0.9 1.4 Foreign rate differential 3.0 0.3 0.1 Change in valuation allowance (11.2) (3.2) (24.8) Excess officers' compensation 5.5 (1.7) (3.1) Tax rate change (13.4) (3.4) 7.8 Induced conversion expense — (9.5) — Tax reserves 12.6 (0.1) (0.2) Provision to return (0.5) 5.2 (0.3) U.S. taxation of international operations 3.5 — — Other 7.7 (0.8) (1.1) Effective income tax rate 38.4 % 0.3 % (1.9) % Net deferred tax assets and liabilities, as set forth in the table below, reflect the impact of temporary differences between the amounts of assets and liabilities recorded for financial statement purposes and such amounts measured in accordance with tax laws: As of December 31, 2024 2023 (in thousands) Deferred tax assets: Accruals and reserves $ 824 $ 335 Net operating loss carryforwards 121,343 137,706 Deferred revenue 3,192 15,726 Depreciation 4,304 836 Research and development credits 13,697 14,116 Capitalized research and development 90,965 63,234 Operating lease liabilities 18,164 24,012 Stock-based compensation 12,290 9,113 Tax credits — 1,148 Other 3,369 1,170 Gross deferred tax assets $ 268,148 $ 267,396 Valuation allowance (229,283) (231,661) Total deferred tax assets $ 38,865 $ 35,735 Deferred tax liabilities: Operating lease ROU assets $ (10,329) $ (11,307) Deferred contract acquisition and fulfillment costs (26,277) (24,251) Other (2,944) (65) Total deferred tax liabilities $ (39,550) $ (35,623) Net deferred tax liabilities $ (685) $ 112 As of December 31, 2024, we had federal and state net operating loss (“NOL”) carryforwards in the United States of $265.6 million and $306.0 million, respectively. Of these amounts, $251.5 million of federal and $47.8 million of state NOLs can be carried forward indefinitely. We had foreign NOL carryforwards of $215.5 million that can be carried forward indefinitely. We also had federal, state and foreign research and development credit carryforwards of $9.3 million, $4.1 million and $0.3 million as of December 31, 2024, respectively. The remaining NOLs and credits expire at various dates beginning in 2025. As of December 31, 2024, our ability to utilize NOLs remains limited under IRC Sections 382 and 383 due to an ownership change we experienced in January 2018. We will not be precluded from realizing the NOL carryforwards and tax credits, but may be limited in the amount we could utilize in any given tax year in the event that the federal and state taxable income exceeds the limitation imposed by Section 382. The amount of the annual limitation is determined based on our value immediately prior to the ownership change. Subsequent ownership changes may further affect the limitation in future years. Beginning January 1, 2022, the Tax Cuts and Jobs Act eliminated the option to deduct research and development expenditures in the current year and requires taxpayers to capitalize such expenses pursuant to Internal Revenue Code Section 174. The capitalized expenses are amortized over a 5-year period for domestic expenses and a 15-year period for foreign expenses. We have included the impact of this provision, which results in additional deferred tax assets of approximately $91.0 million and $63.2 million as of December 31, 2024 and 2023, respectively. During the fourth quarter of 2024, we completed an analysis of our U.S. federal research and development tax credits. As a result, we recorded additional credits of $4.2 million , which have a full valuation allowance and are subject to the potential limitations discussed above. Valuation Allowances As of December 31, 2024, we have evaluated the need for a valuation allowance on our deferred tax assets. In making this determination, management considered whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The Company's valuation allowance decreased by $2.4 million for the year ended December 31, 2024, due primarily to a decrease in operating losses, as well as a decrease of $1.7 million related to release of our valuation allowance related to our net deferred tax assets in Israel, offset by an increase related in capitalized research and development. The release of the valuation allowance in Israel was primarily the result of an internal restructuring, which changed the overall deferred tax position of the Israeli subsidiary. Due to our history of generating losses, we continue to record a valuation allowance against our net deferred tax assets in the United States and U.K and against the net operating loss carryforwards of our Ireland subsidiary. We may release additional valuation allowances in future periods if objective negative evidence of cumulative losses is no longer present and positive evidence, such as projection of future growth, supports the realization of such deferred tax assets. Release of all or a portion of these valuation allowances would result in a decrease in the provision for income taxes in the period of the release. Unrecognized Tax Benefits We file income tax returns in all jurisdictions in which we operate. In the normal course of business, we are subject to examination by federal, state, and foreign tax authorities, where applicable. The statute of limitations for these jurisdictions is generally three The following is a reconciliation of the beginning and ending balances of unrecognized tax benefits (excluding interest and penalties), in thousands: Balance, January 1, 2024 $ 5,041 Additions based on tax positions related to the current year 4,520 Additions for tax positions of prior years 315 Reductions for tax positions of prior years — Settlements — Balance, December 31, 2024 $ 9,876 We have established reserves to provide for additional income taxes that management believes will more likely than not be due in future years. The reserves have been established based upon our assessment of the potential exposure. The change in our reserves during the year ended December 31, 2024 primarily relates to an intercompany sale of intellectual property as part of a post-acquisition integration strategy related to our acquisition of Minerva Labs Ltd. We recorded $0.4 million of interest in 2024 related to unrecognized tax benefits. During the next twelve months, the Company does not expect any change to its unrecognized tax benefits other than the accrual of interest in the normal course of business. We recognize interest and penalties related to unrecognized tax benefits in the income tax line of the statement of operations. From time to time, we may receive income tax assessments from taxing authorities asserting additional tax liabilities owed by the Company. During the quarter ended June 30, 2024, we received an initial assessment from the Israel Tax Authority (“ITA”) of approximately 324 million Israeli New Shekels (approximately $88 million, based upon exchange rates as of December 31, 2024 between the Israeli New Shekel and the US Dollar) related to fiscal year 2021. Based on our interpretation of the regulations and available case law, we believe that the tax positions we have taken on our filed tax return in Israel are sustainable and we intend to defend our position through all available means. As such, we have not recorded any impact of the ITA assessment in our consolidated financial statements for the year ended December 31, 2024. We are continuing to monitor developments related to this matter and its impact on our existing income tax reserves for all open years. If we are unsuccessful in sustaining our tax position in this matter, our financial condition and results of operations would be adversely affected. Other Tax Matters As of December 31, 2024, we have accumulated earnings generated by foreign subsidiaries. We have not recognized a deferred tax liability for the majority of these unremitted earnings as our intention is to indefinitely reinvest these accumulated earnings in our foreign subsidiaries. During the fourth quarter of 2024, we made the determination that the unremitted foreign earnings associated with our Israel legal entity are no longer indefinitely reinvested. We recorded a liability of $0.1 million related to the taxes expected to be imposed upon the repatriation of these unremitted foreign earnings that are not considered indefinitely reinvested. The Organization for Economic Co-operation and Development (“OECD”) Pillar Two Model Rules (“Pillar Two”) for the global 15% minimum tax have been adopted in a number of jurisdictions in which we operate. We are continuing to evaluate the potential impact on future periods of the Pillar Two framework, pending legislative adoption by additional individual countries.

Net Income (Loss) Per Share

Net Income (Loss) Per Share	12 Months Ended
	Dec. 31, 2024
Earnings Per Share [Abstract]
Net Income (Loss) Per Share	(15) Net Income (Loss) per Share The following table summarizes the computation of basic and diluted net income (loss) per share of our common stock for the years ended December 31, 2024, 2023 and 2022: Year Ended December 31, 2024 2023 2022 (in thousands, except share and per share data) Numerator: Net income (loss) used to calculate net income (loss), basic $ 25,526 $ (152,815) $ (124,717) Denominator: Weighted-average common shares outstanding, basic 62,607,583 60,756,087 58,552,065 Weighted average effect of dilutive shares: Dilutive effect of equity incentive plans 576,068 — — Weighted-average common shares outstanding, diluted 63,183,651 60,756,087 58,552,065 Net income (loss) per share, basic $ 0.41 $ (2.52) $ (2.13) Net income (loss) per share, diluted $ 0.40 $ (2.52) $ (2.13) We intend to settle any conversion of our 2025 Notes, 2027 Notes and 2029 Notes in cash, shares, or a combination thereof. The dilutive impact of the Notes for our calculation of diluted net income (loss) per share is considered using the if-converted method. For the years ended December 31, 2024, 2023 and 2022, the shares underlying the Notes were not considered in the calculation of diluted net income (loss) per share as the effect would have been anti-dilutive. In connection with the issuance of the 2025 Notes, the 2027 Notes and the 2029 Notes, we entered into the 2025 Capped Calls, 2027 Capped Calls and 2029 Capped Calls, which were not included for the purpose of calculating the number of diluted shares outstanding, as their effect would have been anti-dilutive. As of December 31, 2024, the 2025 Notes were convertible at the option of the holder, however the 2027 Notes and the 2029 Notes were not convertible at the option of the holder. As of December 31, 2023, and 2022 the 2025 Notes, the 2027 Notes and the 2029 Notes were not convertible at the option of the holder. We had not received any conversion notices through the issuance date of our consolidated financial statements. For disclosure purposes, we have calculated the potentially dilutive effect of the conversion spread, which is included in the table below. The following potentially dilutive securities outstanding have been excluded from the computation of diluted weighted-average shares outstanding for the respective periods below because they would have been anti-dilutive: Year Ended December 31, 2024 2023 2022 Options to purchase common stock — 716,270 932,126 Unvested restricted stock units — 2,983,020 3,001,443 Common stock issued in conjunction to acquisitions 227,316 115,051 74,627 Shares to be issued under ESPP 91,634 103,778 106,965 Convertible senior notes 11,183,611 11,183,611 9,572,955 Total 11,502,561 15,101,730 13,688,116

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	(16) Commitments and Contingencies (a) Purchase Obligations As of December 31, 2024, we have non-cancellable firm purchase commitments primarily relating to cloud infrastructure services and software subscriptions. The following table presents details of the future non-cancellable purchase commitments under these agreements as of December 31, 2024 (in thousands): 2025 $ 60,125 2026 22,641 2027 17,296 Total $ 100,062 In January 2025, we amended our contract with a cloud services provider which increased our total purchase obligation by $93.8 million in 2025, and $125.0 million in each of 2026, 2027, 2028 and 2029, respectively, for a total additional $593.8 million incremental to the amounts that are included in the table above. In addition, the amended contract includes an additional $35.0 million obligation over the five-year period. (b) Warranty We provide limited product warranties. Historically, any payments made under these provisions have been immaterial. (c) Litigation and Claims From time to time, we may be a party to litigation or subject to claims incident to the ordinary course of business. Although the results of litigation and claims cannot be predicted with certainty, we currently believe that the final outcome of these ordinary course matters will not have a material adverse effect on our business. Regardless of the outcome, litigation can have an adverse impact on us because of defense and settlement costs, diversion of management resources and other factors. (d) Indemnification Obligations We agree to standard indemnification provisions in the ordinary course of business. Pursuant to these provisions, we agree to indemnify, hold harmless and reimburse the indemnified party for losses suffered or incurred by the indemnified party, generally our customers, in connection with any United States patent, copyright or other intellectual property infringement claim by any third party arising from the use of our products or services in accordance with the agreement or arising from our gross negligence, willful misconduct or violation of the law (provided that there is not gross or willful misconduct on the part of the other party) with respect to our products or services. The term of these indemnification provisions is generally perpetual from the time of execution of the agreement. We carry insurance that covers certain third-party claims relating to our services and limits our exposure. We have never incurred costs to defend lawsuits or settle claims related to these indemnification provisions. As permitted under Delaware law, we have entered into indemnification agreements with our officers and directors, indemnifying them for certain events or occurrences while they serve as officers or directors of the company. (e) Income Taxes From time to time, we may receive income tax assessments from taxing authorities asserting additional tax liabilities owed by the Company. During the quarter ended June 30, 2024, we received an initial assessment from the Israel Tax Authority (“ITA”) of approximately 324 million Israeli New Shekels (approximately $88 million, based upon exchange rates as of December 31, 2024 between the Israeli New Shekel and the US Dollar) related to fiscal year 2021. Based on our interpretation of the regulations and available case law, we believe that the tax positions we have taken on our filed tax return in Israel are sustainable and we intend to defend our position through all available means. As such, we have not recorded any impact of the ITA assessment in our consolidated financial statements for the year ended December 31, 2024. We are continuing to monitor developments related to this matter and its impact on our existing income tax reserves for all open years. If we are unsuccessful in sustaining our tax position in this matter, our financial condition and results of operations would be adversely affected.

Employee Benefit Plan

Employee Benefit Plan	12 Months Ended
	Dec. 31, 2024
Retirement Benefits [Abstract]
Employee Benefit Plan	(17) Employee Benefit Plan

Segment Information and Informa

Segment Information and Information about Geographic Areas	12 Months Ended
	Dec. 31, 2024
Segment Reporting [Abstract]
Segment Information and Information about Geographic Areas	(18) Segment Information and Information about Geographic Areas We operate in a single reportable segment, providing product subscriptions and professional services to our customers. The segment’s accounting policies are consistent with those described in Note 2, Summary of Significant Accounting Policies . Our chief operating decision maker (“CODM”) is our Chief Executive Officer. One of the measures of profit or loss that is used by our CODM to assess performance and allocate resources is consolidated net income, as reported in the consolidated statements of operations. Consolidated net income is used by our CODM in monitoring actual versus budgeted results as well as in benchmarking against our competitors, which are used in assessing performance of the segment. The following table includes segment revenue, segment profit or loss, significant segment expenses regularly provided to the CODM and other segment expenses for the years ended December 31, 2024, 2023 and 2022: Year Ended December 31, 2024 2023 2022 (in thousands) Total revenue $ 844,007 $ 777,707 $ 685,083 Adjusted total cost of revenue 1 221,664 202,655 185,489 Adjusted research and development 1 135,560 138,754 140,030 Adjusted sales and marketing 1 267,483 280,703 273,482 Adjusted general and administrative 1 55,792 53,374 55,696 Other segment expenses 2 137,982 255,036 155,103 Net income (loss) $ 25,526 $ (152,815) $ (124,717) 1 Adjusted total cost of revenue excludes the impact of stock-based compensation expense and amortization of acquired intangible assets. Adjusted research and development excludes the impact of stock-based compensation expense. Adjusted sales and marketing excludes the impact of stock-based compensation and amortization of acquired intangible assets. Adjusted general and administrative excludes the impact of stock-based compensation, amortization of acquired intangible assets, acquisition-related expenses and litigation-related expenses. 2 Other segment expenses include stock-based compensation expense, amortization of acquired intangible assets, acquisition-related expenses, litigation-related expenses, impairment of long-lived assets, restructuring expense, interest income, interest expense, other income (expense) and provision for (benefit from) income taxes. See the consolidated financial statements for other financial information regarding our operating segment. Net revenues by geographic area presented based upon the location of the customer are as follows: Year Ended December 31, 2024 2023 2022 (in thousands) North America $ 643,405 $ 607,448 $ 541,812 Rest of world 200,602 170,259 143,271 Total $ 844,007 $ 777,707 $ 685,083 Property and equipment, net by geographic area was as follows: As of December 31, 2024 As of December 31, 2023 (in thousands) North America $ 22,613 $ 27,609 Rest of world 9,632 12,033 Total $ 32,245 $ 39,642

Restructuring

Restructuring	12 Months Ended
	Dec. 31, 2024
Restructuring and Related Activities [Abstract]
Restructuring	(19) Restructuring On August 7, 2023, our board of directors approved a restructuring plan that was designed to improve operational efficiencies, reduce operating costs and better align the Company’s workforce with current business needs, top strategic priorities and key growth opportunities (collectively, the “Restructuring Plan”). The Restructuring Plan included a reduction of the Company’s workforce by approximately 16%. In 2023, we incurred $22.2 million of restructuring charges which were recorded within restructuring in the condensed consolidated statements of operations. In addition, we incurred $1.3 million of stock-based compensation expense related to acceleration of share-based awards. In 2023, we permanently closed certain idle office spaces in Plano, Texas; Los Angeles, California; and Toronto, Canada, which resulted in an impairment loss of $3.6 million. Refer to Note 12, Leases , for further details on the impairment of long-lived assets. As of December 31, 2023, the restructuring liability accrued but not paid totaled $3.8 million, which was included within accrued expenses in the condensed consolidated balance sheets.

Immaterial Correction of an Err

Immaterial Correction of an Error	12 Months Ended
	Dec. 31, 2024
Accounting Changes and Error Corrections [Abstract]
Immaterial Correction of an Error	(20) Immaterial Correction of an Error During the fourth quarter of 2024, we identified an immaterial error related to stock-based compensation expense associated with certain RSUs and PSUs granted during fiscal years 2023 and 2024 attributable to an improper valuation of the underlying awards, resulting in an understatement of stock-based compensation expense in 2023 and 2024. In accordance with Staff Accounting Bulletin (“SAB”) No. 99, Materiality , and SAB No. 108, Considering the Effects of Prior Year Misstatements when Quantifying Misstatements in Current Year Financial Statements , the Company evaluated the errors and determined that the related impact was not material to results of operations or financial position for any historical annual or interim period. As a result, we are correcting the errors by adjusting prior period financial statements as of and for each of the quarterly and year-to-date periods shown below. Additionally, Note 13, Stock-Based Compensation, Note 14, Income Taxes and Note 15, Net Income (Loss) per Share, have been adjusted to reflect the correction of the immaterial errors. The following table sets forth the effect of the immaterial error correction to certain line items of our consolidated statement of operations, consolidated balance sheet and consolidated statement of cash flows as of and for the year ended December 31, 2023: Year Ended December 31, 2023 As Reported Adjustment Revised (in thousands, except per share amounts) Consolidated Statement of Operations: Cost of revenue - product subscriptions $ 202,904 $ 236 $ 203,140 Cost of revenue - professional services $ 28,837 $ 69 $ 28,906 Research and development expense $ 176,776 $ 1,161 $ 177,937 Sales and marketing expense $ 312,636 $ 1,025 $ 313,661 General and administrative expense $ 84,276 $ 1,064 $ 85,340 Net income (loss) $ (149,260) $ (3,555) $ (152,815) Net income (loss) per share, basic $ (2.46) $ (0.06) $ (2.52) Net income (loss) per share, diluted $ (2.46) $ (0.06) $ (2.52) Consolidated Statement of Cash Flows: Net income (loss) $ (149,260) $ (3,555) $ (152,815) Stock-based compensation expense $ 108,081 $ 3,555 $ 111,636 Net cash provided by operating activities $ 104,278 $ — $ 104,278 As of December 31, 2023 As Reported Adjustment Revised (in thousands) Consolidated Balance Sheet: Additional paid-in capital $ 894,630 $ 3,555 $ 898,185 Accumulated deficit $ (1,010,005) $ (3,555) $ (1,013,560) Total stockholders' deficit $ (118,179) $ — $ (118,179) The following tables set forth the effect of the immaterial error corrections to (i) certain line items of our unaudited condensed consolidated statements of operations for the interim periods ended March 31, 2023, June 30, 2023, September 30, 2023 and December 31, 2023, as well as (ii) certain line items of our unaudited condensed consolidated statements of operations and unaudited condensed consolidated statements of cash flows for the interim periods ended March 31, 2024, June 30, 2024 and September 30, 2024. Prospectively, we will effect an immaterial error correction of these unaudited condensed consolidated financial statements for the 2024 interim periods as those statements are reproduced on a comparative basis in our Quarterly Reports on Form 10-Q throughout fiscal year 2025: Three Months Ended March 31, 2023 Three Months Ended June 30, 2023 As Reported Adjustment Revised As Reported Adjustment Revised (unaudited, in thousands, except per share amounts) (unaudited, in thousands, except per share amounts) Consolidated Statement of Operations: Cost of revenue - product subscriptions $ 48,188 $ 36 $ 48,224 $ 51,148 $ 78 $ 51,226 Cost of revenue - professional services $ 7,811 $ 10 $ 7,821 $ 7,016 $ 22 $ 7,038 Research and development expense $ 46,346 $ 148 $ 46,494 $ 50,762 $ 402 $ 51,164 Sales and marketing expense $ 80,587 $ 166 $ 80,753 $ 83,036 $ 332 $ 83,368 General and administrative expense $ 24,207 $ 269 $ 24,476 $ 22,888 $ 562 $ 23,450 Net income (loss) $ (25,915) $ (629) $ (26,544) $ (66,782) $ (1,396) $ (68,178) Net income (loss) per share, basic $ (0.43) $ (0.01) $ (0.44) $ (1.10) $ (0.03) $ (1.13) Net income (loss) per share, diluted $ (0.43) $ (0.01) $ (0.44) $ (1.10) $ (0.03) $ (1.13) Three Months Ended September 30, 2023 Three Months Ended December 31, 2023 As Reported Adjustment Revised As Reported Adjustment Revised (unaudited, in thousands, except per share amounts) (unaudited, in thousands, except per share amounts) Consolidated Statement of Operations: Cost of revenue - product subscriptions $ 51,261 $ 60 $ 51,321 $ 52,307 $ 62 $ 52,369 Cost of revenue - professional services $ 6,569 $ 21 $ 6,590 $ 7,441 $ 16 $ 7,457 Research and development expense $ 39,940 $ 309 $ 40,249 $ 39,729 $ 302 $ 40,031 Sales and marketing expense $ 75,699 $ 284 $ 75,983 $ 73,314 $ 243 $ 73,557 General and administrative expense $ 17,866 $ (76) $ 17,790 $ 19,314 $ 309 $ 19,623 Net income (loss) $ (76,611) $ (598) $ (77,209) $ 20,048 $ (932) $ 19,116 Net income (loss) per share, basic $ (1.25) $ (0.01) $ (1.26) $ 0.33 $ (0.02) $ 0.31 Net income (loss) per share, diluted $ (1.25) $ (0.01) $ (1.26) $ 0.27 $ (0.01) $ 0.26 Three Months Ended March 31, 2024 As Reported Adjustment Revised (unaudited, in thousands, except per share amounts) Consolidated Statement of Operations: Cost of revenue - product subscriptions $ 54,655 $ 79 $ 54,734 Cost of revenue - professional services $ 6,248 $ 12 $ 6,260 Research and development expense $ 40,990 $ 378 $ 41,368 Sales and marketing expense $ 72,805 $ 290 $ 73,095 General and administrative expense $ 19,835 $ 93 $ 19,928 Net income (loss) $ 2,258 $ (852) $ 1,406 Net income (loss) per share, basic $ 0.04 $ (0.02) $ 0.02 Net income (loss) per share, diluted $ 0.03 $ (0.01) $ 0.02 Consolidated Statement of Cash Flows: Net income $ 2,258 $ (852) $ 1,406 Stock-based compensation expense $ 24,893 $ 852 $ 25,745 Net cash provided by operating activities $ 31,070 $ — $ 31,070 Three Months Ended June 30, 2024 Six Months Ended June 30, 2024 As Reported Adjustment Revised As Reported Adjustment Revised (unaudited, in thousands, except per share amounts) (unaudited, in thousands, except per share amounts) Consolidated Statement of Operations: Cost of revenue - product subscriptions $ 54,982 $ 125 $ 55,107 $ 109,637 $ 204 $ 109,841 Cost of revenue - professional services $ 5,866 $ 19 $ 5,885 $ 12,114 $ 31 $ 12,145 Research and development expense $ 40,056 $ 392 $ 40,448 $ 81,046 $ 770 $ 81,816 Sales and marketing expense $ 77,795 $ 331 $ 78,126 $ 150,600 $ 621 $ 151,221 General and administrative expense $ 22,412 $ 790 $ 23,202 $ 42,247 $ 883 $ 43,130 Net income (loss) $ 8,195 $ (1,657) $ 6,538 $ 10,453 $ (2,509) $ 7,944 Net income (loss) per share, basic $ 0.13 $ (0.03) $ 0.10 $ 0.13 $ (0.05) $ 0.08 Net income (loss) per share, diluted $ 0.11 $ (0.02) $ 0.09 $ 0.11 $ (0.03) $ 0.08 Consolidated Statement of Cash Flows: Net income (loss) $ 10,453 $ (2,509) $ 7,944 Stock-based compensation expense $ 52,302 $ 2,509 $ 54,811 Net cash provided by operating activities $ 63,928 $ — $ 63,928 Three Months Ended September 30, 2024 Nine Months Ended September 30, 2024 As Reported Adjustment Revised As Reported Adjustment Revised (unaudited, in thousands, except per share amounts) (unaudited, in thousands, except per share amounts) Consolidated Statement of Operations: Cost of revenue - product subscriptions $ 56,653 $ 121 $ 56,774 $ 166,290 $ 325 $ 166,615 Cost of revenue - professional services $ 6,364 $ 19 $ 6,383 $ 18,478 $ 50 $ 18,528 Research and development expense $ 44,565 $ 411 $ 44,976 $ 125,611 $ 1,181 $ 126,792 Sales and marketing expense $ 74,521 $ 300 $ 74,821 $ 225,121 $ 921 $ 226,042 General and administrative expense $ 18,590 $ 293 $ 18,883 $ 60,837 $ 1,176 $ 62,013 Net income (loss) $ 16,554 $ (1,144) $ 15,410 $ 27,007 $ (3,653) $ 23,354 Net income (loss) per share, basic $ 0.26 $ (0.02) $ 0.24 $ 0.43 $ (0.07) $ 0.36 Net income (loss) per share, diluted $ 0.22 $ (0.01) $ 0.21 $ 0.36 $ (0.04) $ 0.32 Consolidated Statement of Cash Flows: Net income (loss) $ 27,007 $ (3,653) $ 23,354 Stock-based compensation expense $ 76,896 $ 3,653 $ 80,549 Net cash provided by operating activities $ 107,897 $ — $ 107,897

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands

3 Months Ended

6 Months Ended

9 Months Ended

12 Months Ended

Sep. 30, 2024

Jun. 30, 2024

Mar. 31, 2024

Dec. 31, 2023

Sep. 30, 2023

Jun. 30, 2023

Mar. 31, 2023

Jun. 30, 2024

Sep. 30, 2024

Dec. 31, 2024

Dec. 31, 2023

Dec. 31, 2022

Pay vs Performance Disclosure

Net income (loss)

$ 15,410

$ 6,538

$ 1,406

$ 19,116

$ (77,209)

$ (68,178)

$ (26,544)

$ 7,944

$ 23,354

$ 25,526

$ (152,815)

$ (124,717)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Insider Trading Policies and Pr

Insider Trading Policies and Procedures	12 Months Ended
	Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Cybersecurity Risk Management a

Cybersecurity Risk Management and Strategy Disclosure	12 Months Ended
	Dec. 31, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]	At Rapid7, cybersecurity risk management is integrated into our overall enterprise risk management program and one pillar of our broader cybersecurity program. Our cybersecurity risk management program is designed based on prevailing security standards and controls, such as NIST-800 and ISO 27001, and to continuously evaluate cybersecurity risks in alignment with our business objectives and operational needs. Our information security team manages a framework for handling both information security risk management and operational cybersecurity threats and incidents, including those associated with the use of products and services provided by third-party service providers, suppliers, and vendors. This framework includes steps for assessing the severity of a cybersecurity threat or incident, identifying the source of such cybersecurity threat or incident (including whether such cybersecurity threat or incident is associated with a third-party service provider, supplier, or vendor), implementing cybersecurity countermeasures and mitigations and an escalation path for informing management, the audit committee of the board of directors (the "Audit Committee"), and our full board of directors (the "Board") of cybersecurity threats, incidents and risks. Recognizing the complexity and evolving nature of cybersecurity threats, incidents and risks, we engage with a range of third-party experts, including cybersecurity penetration testers, consultants, and auditors in evaluating and supporting our risk management systems. Our collaboration with these third parties includes regular independent audits, threat assessments, and consultation on security enhancements. Our cybersecurity program, which is managed by our information security team, includes: • efforts to comply with prevailing cybersecurity standards; • regular risk assessments, security assessments and penetration tests designed to help identify potential cybersecurity risks to our critical systems, networks, products, services, and our broader enterprise information technology environment; • a cybersecurity incident response plan and procedures for responding to cybersecurity threats and incidents; • a security operations team responsible for detection of, and response to, cybersecurity threats and incidents; • a third-party risk management process for third-party service providers, suppliers, and vendors; and •
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Processes Integrated [Text Block]	At Rapid7, cybersecurity risk management is integrated into our overall enterprise risk management program and one pillar of our broader cybersecurity program. Our cybersecurity risk management program is designed based on prevailing security standards and controls, such as NIST-800 and ISO 27001, and to continuously evaluate cybersecurity risks in alignment with our business objectives and operational needs. Our information security team manages a framework for handling both information security risk management and operational cybersecurity threats and incidents, including those associated with the use of products and services provided by third-party service providers, suppliers, and vendors. This framework includes steps for assessing the severity of a cybersecurity threat or incident, identifying the source of such cybersecurity threat or incident (including whether such cybersecurity threat or incident is associated with a third-party service provider, supplier, or vendor), implementing cybersecurity countermeasures and mitigations and an escalation path for informing management, the audit committee of the board of directors (the "Audit Committee"), and our full board of directors (the "Board") of cybersecurity threats, incidents and risks.
Cybersecurity Risk Management Third Party Engaged [Flag]	true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]	true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	false
Cybersecurity Risk Board of Directors Oversight [Text Block]	Our Board considers cybersecurity risk as part of its risk oversight function and has delegated to the Audit Committee oversight of cybersecurity risk management. Our Audit Committee consists of Board members with a diversity of expertise in risk management, technology, finance, and cybersecurity, including oversight of security teams. The Audit Committee is responsible for overseeing that management has processes in place designed to identify, assess and manage cybersecurity risks, including mitigation and remediation of cybersecurity threats and incidents. The Audit Committee also reports on the cybersecurity program to our Board. Management is responsible for identifying, assessing and managing material cybersecurity risks on an ongoing basis, establishing processes designed to ensure that potential cybersecurity risk exposures are monitored, putting in place appropriate mitigation and remediation measures, and maintaining cybersecurity programs. Our cybersecurity programs are under the direction of our Chief Security Officer (“CSO”), who receives reports from our information security team and monitors the prevention, detection, mitigation and remediation of cybersecurity incidents. Our CSO and dedicated personnel are certified and experienced information systems security professionals and information security managers with decades of experience and industry certifications. Management, including the CSO and our information security tea m, regularly update the Audit Committee o n the Company’s cybersecurity program, including cybersecurity vulnerabilities, risk, threats and incidents, and developments in the cybersecurity risk landscape. Despite our efforts, we cannot eliminate all risks from cybersecurity threats or incidents, or provide assurances that we have not experienced an undetected cybersecurity incident. While we have implemented a risk management process designed to mitigate cybersecurity risks that arise from utilizing third-party service providers, suppliers, and vendors, our control over and ability to monitor the security posture of third parties with whom we do business remains limited and there can be no assurance that we can prevent, mitigate, or remediate the risk of any compromise or failure in the security infrastructure owned or controlled by such third parties. Additionally, any contractual protections with such third parties, including our right to indemnification, if any at all, may be limited or insufficient to prevent a negative impact on our business from such compromise or failure. For additional information about these risks, see Part I, Item 1A, "Risk Factors" in this Annual Report on Form 10-K.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]	Our Board considers cybersecurity risk as part of its risk oversight function and has delegated to the Audit Committee oversight of cybersecurity risk management.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]	Management, including the CSO and our information security tea m, regularly update the Audit Committee o
Cybersecurity Risk Role of Management [Text Block]	Management is responsible for identifying, assessing and managing material cybersecurity risks on an ongoing basis, establishing processes designed to ensure that potential cybersecurity risk exposures are monitored, putting in place appropriate mitigation and remediation measures, and maintaining cybersecurity programs. Our cybersecurity programs are under the direction of our Chief Security Officer (“CSO”), who receives reports from our information security team and monitors the prevention, detection, mitigation and remediation of cybersecurity incidents. Our CSO and dedicated personnel are certified and experienced information systems security professionals and information security managers with decades of experience and industry certifications. Management, including the CSO and our information security tea m, regularly update the Audit Committee o
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]	Our Board considers cybersecurity risk as part of its risk oversight function and has delegated to the Audit Committee oversight of cybersecurity risk management. Our Audit Committee consists of Board members with a diversity of expertise in risk management, technology, finance, and cybersecurity, including oversight of security teams. The Audit Committee is responsible for overseeing that management has processes in place designed to identify, assess and manage cybersecurity risks, including mitigation and remediation of cybersecurity threats and incidents. The Audit Committee also reports on the cybersecurity program to our Board. Management is responsible for identifying, assessing and managing material cybersecurity risks on an ongoing basis, establishing processes designed to ensure that potential cybersecurity risk exposures are monitored, putting in place appropriate mitigation and remediation measures, and maintaining cybersecurity programs. Our cybersecurity programs are under the direction of our Chief Security Officer (“CSO”), who receives reports from our information security team and monitors the prevention, detection, mitigation and remediation of cybersecurity incidents. Our CSO and dedicated personnel are certified and experienced information systems security professionals and information security managers with decades of experience and industry certifications. Management, including the CSO and our information security tea m, regularly update the Audit Committee o
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]	Our CSO and dedicated personnel are certified and experienced information systems security professionals and information security managers with decades of experience and industry certifications.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]	Management, including the CSO and our information security tea m, regularly update the Audit Committee o
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]	true

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Basis of Presentation and Consolidation	Basis of Presentation and Consolidation
Use of Estimates	Use of Estimates
Revenue Recognition and Deferred Contract Acquisition	Revenue Recognition We generate revenue primarily from: (1) product subscriptions from the sale of cloud-based subscriptions, managed services, term software licenses, content subscriptions and maintenance and support associated with our software licenses and (2) professional services from the sale of our deployment and training services related to our solutions, incident response services, penetration testing and security advisory services. We recognize revenue when a customer obtains control of promised products or services. The amount of revenue recognized reflects the consideration that we expect to be entitled to receive in exchange for these products or services. To achieve the core principle of this standard, we apply the following four steps: 1) Identify the contract with a customer We consider the terms and conditions of the contracts and our customary business practices in identifying our contracts. We determine we have a contract with a customer when the contract is approved, we can identify each party’s rights regarding the services to be transferred, we can identify the payment terms for the services, and we have determined the customer has the ability and intent to pay and the contract has commercial substance. We apply judgment in determining the customer’s ability and intent to pay, which is based on a variety of factors, including the customer’s historical payment experience or, in the case of a new customer, credit and financial information pertaining to the customer. 2) Identify the performance obligations in the contract Performance obligations promised in a contract are identified based on the products and services that will be transferred to the customer that are both capable of being distinct, whereby the customer can benefit from the product or service either on its own or together with other resources that are readily available from third parties or from us, and are distinct in the context of the contract, whereby the transfer of the products or services is separately identifiable from other promises in the contract. 3) Determine the transaction price The transaction price is determined based on the consideration to which we expect to be entitled in exchange for transferring products or services to the customer. Variable consideration is included in the transaction price if, in our judgment, it is probable that no significant future reversal of cumulative revenue under the contract will occur. In instances where the timing of revenue recognition differs from the timing of invoicing, we have determined our contracts generally do not include a significant financing component. The primary purpose of our invoicing terms is to provide customers with simplified and predictable ways of purchasing our products and services, not to receive financing from our customers or to provide customers with financing. Examples include invoicing at the beginning of a subscription term with revenue recognized ratably over the contract period. Sales through our channel network of distributors and resellers are generally discounted as compared to the price that we would sell to an end user. Revenue for sales through our channel network is recorded net of any distributor or reseller margin. If the contract contains a single performance obligation, the entire transaction price is allocated to the single performance obligation. The majority of our contracts with customers contain multiple performance obligations. For these contracts, we account for individual performance obligations separately if they are distinct. The transaction price is allocated to the separate performance obligations on a relative standalone selling price (“SSP”) basis. We determine SSP of our products and services based on our overall pricing objectives using all information reasonably available to us, taking into consideration market conditions and other factors, including the geographic locations of our customers, negotiated discounts from price lists and selling method (i.e., partner or direct). When available, we use directly observable stand-alone transactions to determine SSP. When not regularly sold on a stand-alone basis, we estimate SSP for our products and services utilizing historical sales data, including discounts from list price. The historical data is aggregated and analyzed by geographic location and selling method to establish a median or average price. Once SSP is established it is applied consistently to all transactions including that product or service utilizing a portfolio approach. 4) Recognize revenue when or as we satisfy a performance obligation Revenue is recognized at the time the related performance obligation is satisfied by transferring the promised product or service to a customer. Revenue is recognized when control of the products or services is transferred to our customers, in an amount that reflects the consideration that we expect to receive in exchange for those products or services. Product Subscriptions Product subscriptions consists of revenue from our cloud-based subscription, term software licenses, managed services offerings, content subscriptions and maintenance and support associated with our software licenses. • We generate cloud-based subscription revenue primarily from sales of subscriptions to access our cloud platform, together with related support services to our customers. These arrangements do not provide the customer with the right to take possession of our software operating on our cloud platform at any time. Instead, customers are granted continuous access to our cloud platform over the contractual period. Revenue is recognized over time on a ratable basis over the contract term beginning on the date that our service is made available to the customer. Our cloud-based subscription contracts generally have annual or multi-year contractual terms which are billed in advance of the annual subscription period and are non-cancellable. • Managed services offerings consist of fees generated when we operate our software and provide our capabilities on behalf of our customers. Revenue is recognized on a ratable basis over the contract term beginning on the date that our service is made available to the customer. Our managed services offerings generally have annual or multi-year contractual terms which are billed in advance of the annual subscription period and are non-cancellable. • For our term software licenses where the utility to the customer is dependent on the continued delivery of content subscriptions, we recognize the license revenue over the contractual term of the content subscription. • Content subscriptions and our maintenance and support services are sold with our term software licenses. Revenue related to our content subscriptions associated with our software licenses is recognized ratably over the contractual period. Professional Services All of our professional services are considered distinct performance obligations when sold stand alone or with other products. These contracts generally have terms of one year or less. For the majority of these arrangements, revenue is recognized over time based upon the proportion of work performed to date. Contract Balances Contract liabilities consist of deferred revenue and include payments received in advance of performance under the contract. Such amounts are recognized as revenue over the contractual period consistent with the above methodology. For the year ended December 31, 2024, we recognized revenue of $457.5 million that was included in the corresponding contract liability balance at the beginning of the period presented. Deferred revenue that will be realized during the succeeding 12-month period is recorded as current, and the remaining deferred revenue is recorded as non-current. We receive payments from customers based upon contractual billing schedules. Accounts receivable are recorded when the right to consideration becomes unconditional. Unbilled receivables include amounts related to our contractual right to consideration for both completed and partially completed performance obligations that have not been invoiced. If the right to consideration is based on satisfaction of another performance obligation in the contract other than the passage of time, we would record a contract asset. As of December 31, 2024 and 2023, unbilled receivables of $2.5 million and $2.0 million are included in prepaid expenses and other current assets in our consolidated balance sheet. As of December 31, 2024 and 2023, we have no contract assets recorded on our consolidated balance sheet. Deferred Contract Acquisition Costs We defer contract costs that are recoverable and incremental to obtaining customer contracts. Contract costs, which primarily consist of sales commissions, are amortized on a systematic basis that is consistent with the transfer to the customer of the goods or services to which the asset relates. Contract costs for a new customer, upsell or cross-sell are amortized on a straight-line basis over an estimated period of benefit of five years as sales commissions on initial sales are not commensurate with sales commissions on contract renewals. We determined the estimated period of benefit by taking into consideration the contractual term and expected renewals of customer contracts, our technology and other factors, including the fact that sales commissions paid on renewals are not commensurate with commissions paid on initial sales transactions. Contract costs relating to contract renewals are deferred and amortized on a straight-line basis over the weighted average contract length of renewal contracts. Contract costs for professional services arrangements are expensed as incurred in accordance with the practical expedient as the contractual period of our professional services arrangements is one year or less. We classify deferred contract costs as short-term or long-term based on when we expect to recognize the expense. Amortization expense associated with deferred contract acquisition costs is recorded to sales and marketing expense in our consolidated statements of operations. We periodically review the carrying amount of deferred contract acquisition costs to determine whether events or changes in circumstances have occurred that could impact the period of benefit.
Cash and Cash Equivalents	Cash, Cash Equivalents and Restricted Cash
Investments	Investments Our investments consist o f U.S. Government agencies. We classify our investments as available-for-sale and record these investments at fair value. When the fair value of an investment declines below its amortized cost basis, any portion of that decline attributable to credit losses, to the extent expected to be nonrecoverable before the sale of the security, is recognized in our consolidated statements of operations. When the fair value of the investment declines below its amortized cost basis due to changes in interest rates, such amounts are recorded in accumulated other comprehensive income (loss), and are recognized in our consolidated statement of operations only if we sell or intend to sell the security before recovery of its cost basis. Realized gains and losses are determined based on the specific identification method, and are reflected in our consolidated statements of operations.
Accounts Receivable and Allowance for Credit Losses	Accounts Receivable and Allowance for Credit Losses
Concentration of Credit Risk	Concentration of Credit Risk Financial instruments that potentially expose us to concentrations of credit risk consist primarily of cash and cash equivalents, accounts receivable, investments and derivative financial instruments. We invest only in high-quality credit instruments and our cash and cash equivalents and available for sale investments consist primarily of fixed income securities. Management believes that the financial institutions that hold our investments are financially sound and, accordingly, are subject to minimal credit risk. Deposits held with banks may exceed the amount of insurance provided on such deposits. We provide credit to customers in the normal course of business. Collateral is not required for accounts receivable, but ongoing credit evaluations of customers’ financial condition are performed. We maintain reserves for potential credit losses. No single customer, including channel partners, accounted for 10% or more of our total revenues in 2024, 2023 or 2022 or accounts receivable as of December 31, 2024 or 2023. Our derivative financial instruments expose us to credit risk to the extent that the counterparties may be unable to meet the terms of the arrangement. We mitigate this credit risk by transacting with major financial institutions with high credit ratings.
Property and Equipment	Property and Equipment
Software Development Costs	Software Development Costs Software development costs associated with the development of products for sale are recorded to research and development expense until technological feasibility has been established for the product. Once technological feasibility is established, all software costs are capitalized until the product is available for release to customers. To date, the software development costs have not been capitalized as the cost incurred and time between technological feasibility and product release was insignificant. As such, these costs are expensed as incurred and recognized in research and development expenses in our consolidated statements of operations.
Leases	Leases We determine whether an arrangement is or contains a lease at inception. We evaluate the classification of a lease at inception and, as necessary, at modification. Operating leases are recognized on the consolidated balance sheet as right-of-use (“ROU”) assets, lease liabilities and, if applicable, long-term lease liabilities. Operating lease ROU assets represent our right to use an underlying asset for the lease term. Operating lease liabilities represent our obligation to make payments arising from the lease. Operating lease ROU assets and liabilities are recognized at the present value of future lease payments at the lease commencement date. The implicit rate within our operating leases is generally not determinable and therefore we use the incremental borrowing rate at the lease commencement date to determine the present value of lease payments. We determine our incremental borrowing rate for each lease using our estimated borrowing rate, adjusted for various factors including level of collateralization, term and currency to align with the terms of the lease. The operating lease ROU asset also includes any lease prepayments and initial direct costs, offset by lease incentives. Operating lease cost is recognized on a straight-line basis over the lease term. Certain of our leases include options to extend or terminate the lease. An option to extend the lease is considered in connection with determining the ROU asset and lease liability when it is reasonably certain we will exercise that option. An option to terminate is considered unless it is reasonably certain we will not exercise the option. We account for lease and non-lease components as a single lease component and do not recognize operating lease ROU assets and lease liabilities for leases with a term of one year or less.
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets
Restructuring Expense	Restructuring Expense We record restructuring expense when management commits to and approves a restructuring plan, the restructuring plan identifies all significant actions, the period of time to complete the restructuring plan indicates that significant changes to the restructuring plan are not likely to occur, and employees who are impacted have been notified of the pending involuntary termination. A restructuring plan generally includes significant actions involving employee-related severance charges, employee-related benefits, and other charges associated with the restructuring (collectively, “restructuring expense”). Restructuring expense is recorded within restructuring in the consolidated statement of operations. The restructuring liability accrued but not paid at the end of the reporting period is included within accrued expenses in the consolidated balance sheet.
Business Combinations	Business Combinations We allocate the fair value of purchase consideration to the tangible asset acquired, liabilities assumed, and intangible assets acquired based on their estimated fair values. The excess of the fair value of purchase consideration over the fair value of these identifiable assets and liabilities is recorded as goodwill. During the measurement period, which may be up to one year from the acquisition date, we may record adjustments to the fair value of these assets acquired and liabilities assumed with the corresponding offset to goodwill. Upon the conclusion of the final determination of the fair value of assets acquired or liabilities assumed, any subsequent adjustments are recorded to the consolidated statements of operations. Determining the fair value of the tangible assets acquired, liabilities assumed and intangible assets requires management to make significant estimates and assumptions, especially with respect to intangible assets. Significant estimates in valuing certain intangible assets include, but are not limited to, cash flows that an asset is expected to generate in the future, technology migration curves, discount rates, and useful lives. While we use our best estimates and judgements, our estimates are inherently uncertain and subject to refinement. Contingent consideration arising from business combinations is recorded at fair value as a liability on the acquisition date and remeasured at each reporting date. Changes in fair value are recorded in general and administrative expense in the consolidated statements of operations. Determining the fair value of the contingent consideration each period requires management to make assumptions and judgments. These estimates involve inherent uncertainties, and if different assumptions had been used, the fair value of contingent consideration could have been materially different from the amounts recorded. Acquisition-related transaction costs are expensed as incurred.
Goodwill	Goodwill We perform an annual goodwill impairment test on the last day of each fiscal year and whenever events or changes in circumstances indicate that the carrying amount of this asset may exceed its fair value. For our goodwill impairment analysis, we operate with a single reporting unit. To test goodwill impairment, we perform a single-step goodwill impairment test to identify potential goodwill impairment. The single-step impairment test begins with an estimation of the fair value of a reporting unit. Goodwill impairment exists when the net assets of a reporting unit exceed its fair value. In performing the single step of the goodwill impairment testing and measurement process, we estimated the fair value of our single reporting unit using our market capitalization. Based upon our assessment performed as of December 31, 2024, we concluded the fair value of our single reporting unit exceeded its carrying value and there was no impairment of goodwill.
Foreign Currency	Foreign Currency The functional currency of our foreign subsidiaries is the U.S. dollar. We translate all monetary assets and liabilities denominated in foreign currencies into U.S. dollars using the exchange rates in effect at the balance sheet dates and non-monetary assets and liabilities using historical exchange rates. Foreign currency denominated expenses are re-measured using the average exchange rates for the period. Foreign currency transaction and re-measurement gains and losses are included in other income (expense), net in the consolidated statement of operations. In 2024, foreign currency transact ion gains a nd foreign currency re-measurement gains were $0.6 million
Derivative and Hedging Activities	Derivative and Hedging Activities We are exposed to currency exchange rate risk. Although the majority of our revenue is denominated in U.S. dollars, a portion of our operating expenses are denominated in foreign currencies, making them subject to fluctuations in foreign currency exchange rates. We enter into foreign currency derivative contracts, which we designate as cash flow hedges, to manage the foreign currency exchange risk associated with these expenses. Our derivative financial instruments are recorded at fair value and reported as either an asset or liability on our consolidated balance sheets. Gains or losses related to our cash flow hedges are recorded as a component of accumulated other comprehensive income (loss) in our consolidated balance sheets and are reclassified into the financial statement line item associated with the underlying hedged transaction in our consolidated statement of operations when the underlying hedged transaction is recognized in our earnings. If it becomes probable that the hedged transaction will not occur, the cumulative unrealized gain or loss is reclassified immediately from accumulated other comprehensive income (loss) into the financial statement line item associated with the underlying hedged transaction in our consolidated statement of operations. Derivatives designated as cash flow hedges are classified in our consolidated statements of cash flow in the same manner as the underlying hedged transaction, primarily within cash flow from operating activities.
Stock-Based Compensation	Stock-Based Compensation Stock-based compensation expense related to our stock options, restricted stock units (“RSUs”), performance-based restricted stock units (“PSUs”) and purchase rights issued under our 2015 Employee Stock Purchase Plan (“ESPP”) is calculated based on the estimated fair value of the award on the grant date. The fair values of RSUs and PSUs are based on the value of our common stock on the date of grant. The fair values of stock options and ESPP purchase rights are estimated on the grant date using the Black-Scholes option pricing model which requires management to make a number of assumptions, including the expected life of the option, the volatility of the underlying stock, the risk-free interest rate and expected dividends. The assumptions used in our Black-Scholes option-pricing model represent management’s best estimates at the time of grant. These estimates involve a number of variables, uncertainties and assumptions and the application of management’s judgment, as they are inherently subjective. If any assumptions change, our stock-based compensation expense could be materially different in the future. The fair value is recognized as expense on a straight-line basis over the requisite service period, which is generally the vesting period of the respective award. The actual number of PSUs earned and eligible to vest are determined based on the performance conditions defined when the awards are granted. We recognize share-based compensation expense for the PSUs on a straight-line basis over the requisite service period for each separately vesting portion of the award when it is probable that the performance conditions will be achieved. We reassess the probability of vesting at each reporting period for awards with performance conditions and adjust stock-based compensation cost based on its probability assessment. We recognize forfeitures as they occur and do not estimate a forfeiture rate when calculating the stock-based compensation expense.
Advertising	Advertising
Income Taxes	Income Taxes Income taxes are accounted for using the asset and liability method. Under this method, deferred tax assets and liabilities are recognized for differences between the consolidated financial statements carrying amounts of assets and liabilities and their respective income tax bases, and operating loss and tax credit carryforwards using enacted tax rates expected to apply to taxable income in the years in which the differences are expected to reverse. Deferred tax assets are reduced by a valuation allowance if it is more likely than not that some or all of the deferred tax assets will not be realized. Significant judgment is required in determining any valuation allowance recorded against deferred tax assets. In assessing the need for a valuation allowance, we consider all available evidence, including past operating results, estimates of future taxable income, and the feasibility of tax planning strategies. In the event that we change our determination as to the amount of deferred tax assets that can be realized, we will adjust our valuation allowance with a corresponding impact to the provision for income taxes in the period in which such determination is made. We recognize tax provision from uncertain tax positions if it is more likely than not that the tax position will be sustained on examination by the taxing authorities based on the technical merits of the position. Interest and penalties associated with such uncertain tax positions are classified as a component of income tax expense.
Net Income (Loss) per Share	Net Income (Loss) per Share We calculate basic net income (loss) per share by dividing our net loss by the weighted-average number of common shares outstanding during the period. Diluted net income (loss) per share is computed by giving effect to all potentially dilutive securities, including stock options, RSUs, PSUs, the impact of our ESPP, common shares issued in connection with acquisitions and the impact of our convertible senior notes (“Notes”). We intend to settle any conversion of our Notes in cash, shares, or a combination thereof. The dilutive impact of the Notes for our calculation of diluted net income (loss) per share is considered using the if-converted method. For the years ended December 31, 2024, 2023 and 2022, the shares underlying the Notes were not considered in the calculation of diluted net loss per share as the effect would have been anti-dilutive.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Accounting Pronouncements Recently Adopted In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-07, Segment Reporting (Topic 280), Improvements to Reportable Segment Disclosures (“ASU 2023-07”) , to improve reportable segment disclosure requirements through enhanced disclosures about significant segment expenses on an interim and annual basis. All disclosure requirements of ASU 2023-07 are required for entities with a single reportable segment. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023, and interim periods for the fiscal years beginning after December 15, 2024, and should be applied on a retrospective basis to all periods presented. We adopted this standard for our fiscal year beginning on January 1, 2024 and have provided the required disclosures in Note 18, Segment Information and Information About Geographic Areas. Accounting Pronouncements Not Yet Effective In November 2024, the FASB issued ASU 2024-04, Induced Conversions of Convertible Debt Instruments (“ASU 2024-04”). This new guidance is intended to improve the relevance and consistency in application of the induced conversion guidance in Subtopic 470-20 for (a) convertible debt instruments with cash conversion features and (b) debt instruments that are not currently convertible. ASU 2024-04 is effective for fiscal years beginning after December 15, 2026. Early adoption is permitted. We do not plan to early adopt this standard. We are currently evaluating the effect of adoption of this standard to our consolidated financial statements and disclosures. In November 2024, the FASB issued ASU 2024-03, Disaggregation of Income Statement Expenses (“ASU 2024-03”). Entities are required to disaggregate any relevant expense caption presented on the face of the income statement within continuing operations into the following required natural expense categories, as applicable: (1) purchases of inventory, (2) employee compensation, (3) depreciation, (4) intangible asset amortization, and (5) depreciation, depletion, and amortization recognized as part of oil- and gas-producing activities or other depletion expenses. Such disclosures must be made on an annual and interim basis in a tabular format in the footnotes to the financial statements. ASU 2024-03 is effective for fiscal years beginning after December 15, 2027. Early adoption is permitted. We do not plan to early adopt this standard. We are currently evaluating the effect of adoption of this standard to our consolidated financial statements and disclosures. In December 2023, the FASB issued ASU 2023-09, Improvements to Income Tax Disclosures (“ASU 2023-09”). This new guidance is designed to enhance the transparency and decision usefulness of income tax disclosures. The amendments of this update are related to the rate reconciliation and income taxes paid, requiring (1) consistent categories and greater disaggregation of information in the rate reconciliation and (2) income taxes paid disaggregated by jurisdiction. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024. We are currently evaluating the effect of adopting this standard on our disclosures.
Fair Value Measurements	We measure certain financial assets and liabilities at fair value. Fair value is determined based upon the exit price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants, as determined by either the principal market or the most advantageous market. Inputs used in the valuation techniques to derive fair values are classified based on a three-level hierarchy, as follows: • Level 1 : Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets. • Level 2 : Observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which all significant inputs are observable or can be derived principally from or corroborated by observable market data for substantially the full term of the assets or liabilities. • Level 3 : Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the asset or liability. We consider an active market to be one in which transactions for the asset or liability occur with sufficient frequency and volume to provide pricing information on an ongoing basis, and consider an inactive market to be one in which there are infrequent or few transactions for the asset or liability, the prices are not current, or price quotations vary substantially either over time or among market makers.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Summary of Useful Lives of Property and Equipment	The following table presents the useful lives of our property and equipment: Useful Lives Computer equipment and software 3 years Furniture and fixtures 3 - 5 years Leasehold improvements Shorter of the useful life of the asset or the lease term Property and equipment are recorded at cost and consist of the following: December 31, December 31, 2024 2023 (in thousands) Computer equipment and software $ 28,789 $ 26,442 Furniture and fixtures 10,960 10,850 Leasehold improvements 57,051 56,151 Total 96,800 93,443 Less accumulated depreciation (64,555) (53,801) Property and equipment, net $ 32,245 $ 39,642

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	12 Months Ended
	Dec. 31, 2024
Revenue from Contract with Customer [Abstract]
Summary of Net Revenues of Customer by Geographic Area	The following table summarizes the revenue by region based on the shipping address of customers who have contracted to use our product or service for the years ended December 31, 2024, 2023 and 2022: Year Ended December 31, 2024 2023 2022 (in thousands) North America $ 643,405 $ 607,448 $ 541,812 Rest of world 200,602 170,259 143,271 Total revenue $ 844,007 $ 777,707 $ 685,083 Net revenues by geographic area presented based upon the location of the customer are as follows: Year Ended December 31, 2024 2023 2022 (in thousands) North America $ 643,405 $ 607,448 $ 541,812 Rest of world 200,602 170,259 143,271 Total $ 844,007 $ 777,707 $ 685,083
Summary of Estimated Revenue Expected to be Recognized in Future Related to Performance Obligations	The following table includes estimated revenue expected to be recognized in the future related to performance obligations that are unsatisfied or partially unsatisfied as of December 31, 2024. The estimated revenues do not include unexercised contract renewals. Next Twelve Months Thereafter (in thousands) Product subscriptions $ 587,450 $ 291,435 Professional services 14,167 5,334 Total $ 601,617 $ 296,769

Business Combinations (Tables)

Business Combinations (Tables)	12 Months Ended
	Dec. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Summary of Preliminary Allocation of Purchase Price to the Estimated Fair Value of the Assets Acquired and Liabilities	The following table summarizes the preliminary allocation of purchase price to the estimated fair value of the assets acquired and liabilities assumed at the acquisition date (in thousands): Consideration: Cash $ 38,597 Deferred cash consideration 500 Contingent consideration 12,055 Fair value of total consideration transferred $ 51,152 Recognized amount of identifiable assets acquired and liabilities assumed: Cash and cash equivalents $ 1,296 Accounts receivable 510 Prepaid and other current assets 102 Property and equipment, net 19 Accrued expenses and other current liabilities (220) Deferred revenue (910) Other long-term liabilities (62) Intangible asset 11,500 Total identifiable net assets assumed $ 12,235 Goodwill 38,917 Total purchase price allocation $ 51,152

Investments (Tables)

Investments (Tables)	12 Months Ended
	Dec. 31, 2024
Investments, Debt and Equity Securities [Abstract]
Summary of Investments Classified as Available-for-Sale	Our investments, which are all classified as available-for-sale, consisted of the following: As of December 31, 2024 Amortized Gross Gross Fair Value (in thousands) Description: U.S government agencies $ 224,187 $ 328 $ (216) $ 224,299 Total $ 224,187 $ 328 $ (216) $ 224,299 As of December 31, 2023 Amortized Gross Gross Fair Value (in thousands) Description: U.S government agencies $ 222,820 $ 467 $ (65) $ 223,222 Agency bonds 2,500 — (7) 2,493 Total $ 225,320 $ 467 $ (72) $ 225,715

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2024
Fair Value Disclosures [Abstract]
Summary of Financial Assets and Liabilities Measured and Recorded at Fair Value on Recurring Basis	The following table presents our financial assets and liabilities measured and recorded at fair value on a recurring basis using the above input categories: As of December 31, 2024 Level 1 Level 2 Level 3 Total (in thousands) Description: Assets: U.S. government agencies $ 224,299 $ — $ — $ 224,299 Foreign currency forward contracts designated as cash flow hedges (prepaid expenses and other current assets) — 96 — 96 Total assets $ 224,299 $ 96 $ — $ 224,395 Liabilities: Contingent consideration (other current liabilities and other long-term liabilities) $ — $ — $ 12,422 $ 12,422 Foreign currency forward contracts designated as cash flow hedges (other current and long-term liabilities) — 1,415 — 1,415 Total liabilities $ — $ 1,415 $ 12,422 $ 13,837 As of December 31, 2023 Level 1 Level 2 Level 3 Total (in thousands) Description: Assets: U.S. government agencies $ 223,222 $ — $ — $ 223,222 Agency bonds — 2,493 — 2,493 Foreign currency forward contracts designated as cash flow hedges (prepaid expenses and other current assets and other assets) — 1,322 — 1,322 Total assets $ 223,222 $ 3,815 $ — $ 227,037 Liabilities: Foreign currency forward contracts designated as cash flow hedges (other current liabilities) $ — $ 55 $ — $ 55 Total liabilities $ — $ 55 $ — $ 55

Property and Equipment (Tables)

Property and Equipment (Tables)	12 Months Ended
	Dec. 31, 2024
Property, Plant and Equipment [Abstract]
Summary of Property and Equipment	The following table presents the useful lives of our property and equipment: Useful Lives Computer equipment and software 3 years Furniture and fixtures 3 - 5 years Leasehold improvements Shorter of the useful life of the asset or the lease term Property and equipment are recorded at cost and consist of the following: December 31, December 31, 2024 2023 (in thousands) Computer equipment and software $ 28,789 $ 26,442 Furniture and fixtures 10,960 10,850 Leasehold improvements 57,051 56,151 Total 96,800 93,443 Less accumulated depreciation (64,555) (53,801) Property and equipment, net $ 32,245 $ 39,642

Goodwill and Intangibles (Table

Goodwill and Intangibles (Tables)	12 Months Ended
	Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Change in Gross Carrying Amount of Goodwill	The following table displays the changes in the gross carrying amount of goodwill: Amount (in thousands) Balance at December 31, 2022 $ 515,631 Minerva acquisition 20,720 Balance at December 31, 2023 $ 536,351 Noetic acquisition 38,917 Balance at December 31, 2024 $ 575,268
Summary of Identifiable Intangible Assets	The following table presents details of our intangible assets which include acquired identifiable intangible assets and capitalized internal-use software costs: Weighted- As of December 31, 2024 As of December 31, 2023 Gross Carrying Accumulated Net Book Value Gross Carrying Accumulated Net Book Value (in thousands) Intangible assets subject to amortization: Developed technology 6.1 $ 146,855 $ (94,193) $ 52,662 $ 135,355 $ (77,031) $ 58,324 Customer relationships 4.5 12,000 (10,363) 1,637 12,000 (7,755) 4,245 Trade names 3.1 2,619 (2,559) 60 2,619 (2,379) 240 Total acquired intangible assets $ 161,474 $ (107,115) $ 54,359 $ 149,974 $ (87,164) $ 62,810 Internal-use software 3.0 68,878 (37,518) 31,360 55,371 (23,635) 31,736 Total intangible assets $ 230,352 $ (144,633) $ 85,719 $ 205,345 $ (110,799) $ 94,546
Summary of Estimated Amortization Expense	Estimated future amortization expense of the acquired identifiable intangible assets and completed capitalized internal-use software costs as of December 31, 2024 was as follows (in thousands): 2025 $ 32,532 2026 22,432 2027 10,016 2028 3,243 2029 3,243 2030 and thereafter 4,409 Total $ 75,875

Deferred Contract Acquisition_2

Deferred Contract Acquisition and Fulfillment Costs (Tables)	12 Months Ended
	Dec. 31, 2024
Revenue from Contract with Customer [Abstract]
Summary of Deferred Contract Acquisition and Fulfillment Costs	The following table summarizes the activity of the deferred contract acquisition and fulfillment costs, which primarily consist of capitalized sales commissions, for the years ended December 31, 2024 and 2023: Year Ended December 31, 2024 2023 (in thousands) Beginning balance $ 121,609 $ 103,075 Capitalization of contract acquisition and fulfillment costs 57,796 60,528 Amortization of deferred contract acquisition and fulfillment costs (53,599) (41,994) Ending balance $ 125,806 $ 121,609

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
Summary of Long-term Debt Instruments	Further details of the Notes are as follows: Issuance Maturity Date Interest Rate First Interest Payment Date Effective Interest Rate Semi-Annual Interest Payment Dates Initial Conversion Rate per $1,000 Principal Initial Conversion Price Number of Shares (in millions) 2025 Notes May 1, 2025 2.25% November 1, 2020 2.88% May 1 and November 1 16.3875 $ 61.02 0.8 2027 Notes March 15, 2027 0.25% September 15, 2021 0.67% March 15 and September 15 9.6734 $ 103.38 5.8 2029 Notes March 15, 2029 1.25% March 15, 2024 1.69% March 15 and September 15 15.4213 $ 64.85 4.6
Summary of Liability and Equity Components of Convertible Debt	The net carrying amount of the Notes as of December 31, 2024 and December 31, 2023 was as follows (in thousands): 2025 Notes 2027 Notes 2029 Notes Principal Unamortized debt issuance costs Total Principal Unamortized debt issuance costs Total Principal Unamortized debt issuance costs Total Balance at December 31, 2023 $ 45,992 $ (404) $ 45,588 $ 600,000 $ (8,077) $ 591,923 $ 300,000 $ (7,515) $ 292,485 Amortization of debt issuance costs — 307 307 — 2,513 2,513 — 1,435 1,435 Balance at December 31, 2024 $ 45,992 $ (97) $ 45,895 $ 600,000 $ (5,564) $ 594,436 $ 300,000 $ (6,080) $ 293,920 Interest expense related to the Notes was as follows (in thousands): Year Ended December 31, 2024 2023 2022 2025 Notes 2027 Notes 2029 Notes Total 2025 Notes 2027 Notes 2029 Notes Total 2025 Notes 2027 Notes Total Contractual interest expense $ 1,035 $ 1,500 $ 3,749 $ 6,284 $ 3,795 $ 1,500 $ 1,167 $ 6,462 $ 5,174 $ 1,502 $ 6,676 Amortization of debt issuance costs 307 2,513 1,435 4,255 1,066 2,487 394 3,947 1,425 2,468 3,893 Induced conversion expense — — — — 53,889 — — 53,889 — — — Total interest expense $ 1,342 $ 4,013 $ 5,184 $ 10,539 $ 58,750 $ 3,987 $ 1,561 $ 64,298 $ 6,599 $ 3,970 $ 10,569
Summary of Other Key Terms and Premiums Paid for the Capped Calls Related to Each Series of Notes	The following table sets forth other key terms and premiums paid for the Capped Calls related to each series of Notes: Capped Calls Entered into in Connection with the Issuance of the 2025 Notes Capped Calls Entered into in Connection with the Issuance of the 2027 Notes Capped Calls Entered into in Connection with the Issuance of the 2029 Notes Initial strike price, subject to certain adjustments $ 61.02 $ 103.38 $ 64.85 Cap price, subject to certain adjustments $ 93.88 $ 159.04 $ 97.88 Total premium paid (in thousands) $ 27,255 $ 76,020 $ 36,570 Expiration dates March 4, 2025 - April 29, 2025 January 1, 2027 - March 11, 2027 February 13, 2029 - March 13, 2029

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2024
Leases [Abstract]
Summary of Components of Lease Expense and Supplemental Cash Flow Information Related to Leases	The components of lease expense were as follows: Year Ended December 31, 2024 2023 (in thousands) Operating lease costs $ 16,129 $ 16,776 Short-term lease costs 951 1,259 Variable lease costs 8,825 8,219 Total lease costs $ 25,905 $ 26,254 Supplemental cash flow information related to leases was as follows: Year Ended December 31, 2024 2023 (in thousands) Cash paid for amounts included in the measurement of lease liabilities $ 22,870 $ 19,999 ROU assets obtained in exchange for new lease obligations $ 4,488 $ 8,119
Summary of Supplemental Balance Sheet Information Related to Operating Leases	Supplemental balance sheet information related to the operating leases was as follows: As of December 31, 2024 As of December 31, 2023 Weighted average remaining lease term (in years) - operating leases 4.9 5.7 Weighted average discount rate - operating leases 6.4 % 6.4 %
Summary of Maturities of Operating Lease Liabilities and Future Minimum Payments under Non-cancellable Leases	Maturities of operating lease liabilities as of December 31, 2024 were as follows (in thousands): 2025 $ 20,926 2026 18,941 2027 18,761 2028 19,333 2029 16,601 2030 and thereafter 3,275 Total lease payments $ 97,837 Less: imputed interest (13,914) Total $ 83,923

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]
Summary of Stock-Based Compensation Expense	Stock-based compensation expense for restricted stock units (“RSUs”), performance-based restricted stock units (“PSUs”), stock options, purchase rights issued under our employee stock purchase plan (“ESPP”) and earnout consideration and key employee consideration shares related to acquisitions was classified in the accompanying consolidated statements of operations as follows: Year Ended December 31, 2024 2023 2022 (in thousands) Stock-based compensation expense: Cost of revenue $ 12,208 $ 11,005 $ 10,367 Research and development 37,566 39,183 49,940 Sales and marketing 28,718 30,350 31,217 General and administrative 29,469 31,098 28,378 Total stock-based compensation expense $ 107,961 $ 111,636 $ 119,902 The unrecognized stock-based compensation expense and estimated weighted average amortization periods remaining at December 31, 2024 was as follows: Unrecognized Compensation Expense Weighted-Average Amortization Period Remaining (in thousands) (in years) RSUs and PSUs $ 137,525 1.9 Purchase rights under our ESPP $ 1,734 0.6 Earnout and key employee consideration shares $ 7,391 1.8
Summary of Restricted Stock and Restricted Stock Unit Activity	RSUs and PSUs activity during 2024, 2023, and 2022 was as follows: Shares Weighted- Unvested balance as of December 31, 2021 2,778,877 $ 74.40 Granted 2,327,216 86.78 Vested (1,481,333) 69.80 Forfeited (623,317) 85.93 Unvested balance as of December 31, 2022 3,001,443 83.88 Granted 2,304,140 48.83 (1) Vested (1,453,713) 73.29 (1) Forfeited (1,137,444) 67.93 (1) Unvested balance as of December 31, 2023 2,714,426 66.40 (1) Granted 2,563,810 53.99 Vested (1,462,352) 64.78 Forfeited (962,649) 62.16 Unvested balance as of December 31, 2024 2,853,235 $ 57.25 (1) The weighted average grant date fair values for RSUs and PSUs granted, vested and forfeited during fiscal year 2023, as well as the weighted average grant date fair value of awards unvested as of December 31, 2023 have been revised from prior period disclosures. Refer to Note 20, Immaterial Correction of an Error , for further information.
Summary of Stock Option Activity	The following tables summarizes information about stock option activity during the reporting periods: Shares Weighted Weighted Aggregate Outstanding as of December 31, 2021 1,411,387 $ 10.74 $ 150,951 Granted — — Exercised (479,223) 6.92 $ 20,764 Forfeited/cancelled (38) 21.15 Outstanding as of December 31, 2022 932,126 12.70 $ 19,837 Granted — — Exercised (215,856) 14.14 $ 6,519 Forfeited/cancelled — — Outstanding as of December 31, 2023 716,270 12.26 $ 32,115 Granted — — Exercised (133,182) 11.75 $ 5,013 Forfeited/cancelled (450) 7.73 Outstanding as of December 31, 2024 582,638 12.38 1.2 $ 16,225 Vested and exercisable as of December 31, 2024 582,638 $ 12.38 1.2 $ 16,225
Summary of Share Based Compensation Valuation of Options Granted Assumptions	The following table reflects the assumptions used in the Black-Scholes option pricing model to calculate the expense related to the ESPP: Year Ended December 31, 2024 2023 2022 Expected term (in years) 0.5 - 1.0 0.5 - 1.0 0.5 - 1.0 Expected volatility 37 - 47% 47 - 68% 37 - 57% Risk-free interest rate 4.0 – 5.4% 4.5 – 5.5% 0.1 – 4.0% Expected dividend yield — — — Grant date fair value per share $9.96 – $17.25 $11.70 – $20.07 $15.50 –$29.58
Summary of Common Shares Issued to Employees	The following table provides the number of common shares issued to employees, the purchase prices and aggregate proceeds for the purchase dates in the years ended December 31, 2024, 2023 and 2022: September 13, 2024 March 15, 2024 September 15, 2023 March 15, 2023 September 15, 2022 March 15, 2022 Common shares issued 144,445 147,445 152,419 177,886 218,314 80,747 Purchase prices $29.08 $33.78 and $39.78 $33.78 $34.71 $45.31 $67.59 and $81.37 Aggregate proceeds $ 4.2 million $ 5.0 million $ 5.1 million $ 6.1 million $6.2 million $5.7 million

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Summary of Components of Loss Before Income Taxes	Income (loss) before income taxes included in the consolidated statements of operations was as follows: Year Ended December 31, 2024 2023 2022 (in thousands) United States $ 35,699 $ (139,295) $ (109,381) Foreign 5,756 (14,038) (12,924) Income (loss) before income taxes $ 41,455 $ (153,333) $ (122,305)
Summary of Income Tax (Benefit) Expense	Income tax expense included in the consolidated statements of operations was as follows: Year Ended December 31, 2024 2023 2022 (in thousands) Current: Federal $ 2,426 $ 428 $ 1 State and local 2,848 1,361 243 Foreign 9,864 3,317 3,608 Total current tax expense 15,138 5,106 3,852 Deferred: Federal 12 9 10 State and local — 2 2 Foreign 779 (5,635) (1,452) Total deferred tax expense (benefit) 791 (5,624) (1,440) Total income tax expense (benefit) $ 15,929 $ (518) $ 2,412
Summary of Reconciliation of Income Taxes Computed at Federal Statutory Rate and Provision for Income Taxes	The reconciliation of the federal statutory rate of 21% to the effective income tax rate for the years ended December 31, 2024, 2023 and 2022 was as follows: Year Ended December 31, 2024 2023 2022 Federal statutory rate 21.0 % 21.0 % 21.0 % State taxes, net of federal benefit 6.0 (0.5) (0.1) Permanent differences 7.0 (0.9) (0.2) Stock-based compensation 15.7 (7.0) (2.4) Research and development credits (18.5) 0.9 1.4 Foreign rate differential 3.0 0.3 0.1 Change in valuation allowance (11.2) (3.2) (24.8) Excess officers' compensation 5.5 (1.7) (3.1) Tax rate change (13.4) (3.4) 7.8 Induced conversion expense — (9.5) — Tax reserves 12.6 (0.1) (0.2) Provision to return (0.5) 5.2 (0.3) U.S. taxation of international operations 3.5 — — Other 7.7 (0.8) (1.1) Effective income tax rate 38.4 % 0.3 % (1.9) %
Summary of Components of Net Deferred Tax Assets and Liabilities	Net deferred tax assets and liabilities, as set forth in the table below, reflect the impact of temporary differences between the amounts of assets and liabilities recorded for financial statement purposes and such amounts measured in accordance with tax laws: As of December 31, 2024 2023 (in thousands) Deferred tax assets: Accruals and reserves $ 824 $ 335 Net operating loss carryforwards 121,343 137,706 Deferred revenue 3,192 15,726 Depreciation 4,304 836 Research and development credits 13,697 14,116 Capitalized research and development 90,965 63,234 Operating lease liabilities 18,164 24,012 Stock-based compensation 12,290 9,113 Tax credits — 1,148 Other 3,369 1,170 Gross deferred tax assets $ 268,148 $ 267,396 Valuation allowance (229,283) (231,661) Total deferred tax assets $ 38,865 $ 35,735 Deferred tax liabilities: Operating lease ROU assets $ (10,329) $ (11,307) Deferred contract acquisition and fulfillment costs (26,277) (24,251) Other (2,944) (65) Total deferred tax liabilities $ (39,550) $ (35,623) Net deferred tax liabilities $ (685) $ 112
Summary of Unrecognized Income Tax Benefits	The following is a reconciliation of the beginning and ending balances of unrecognized tax benefits (excluding interest and penalties), in thousands: Balance, January 1, 2024 $ 5,041 Additions based on tax positions related to the current year 4,520 Additions for tax positions of prior years 315 Reductions for tax positions of prior years — Settlements — Balance, December 31, 2024 $ 9,876

Net Income (Loss) Per Share (Ta

Net Income (Loss) Per Share (Tables)	12 Months Ended
	Dec. 31, 2024
Earnings Per Share [Abstract]
Summary of Basic and Diluted Net Loss Per Share of Common Stock	The following table summarizes the computation of basic and diluted net income (loss) per share of our common stock for the years ended December 31, 2024, 2023 and 2022: Year Ended December 31, 2024 2023 2022 (in thousands, except share and per share data) Numerator: Net income (loss) used to calculate net income (loss), basic $ 25,526 $ (152,815) $ (124,717) Denominator: Weighted-average common shares outstanding, basic 62,607,583 60,756,087 58,552,065 Weighted average effect of dilutive shares: Dilutive effect of equity incentive plans 576,068 — — Weighted-average common shares outstanding, diluted 63,183,651 60,756,087 58,552,065 Net income (loss) per share, basic $ 0.41 $ (2.52) $ (2.13) Net income (loss) per share, diluted $ 0.40 $ (2.52) $ (2.13)
Summary of Anti-Dilutive Securities Excluded from Computation Diluted Weighted Average Shares Outstanding	The following potentially dilutive securities outstanding have been excluded from the computation of diluted weighted-average shares outstanding for the respective periods below because they would have been anti-dilutive: Year Ended December 31, 2024 2023 2022 Options to purchase common stock — 716,270 932,126 Unvested restricted stock units — 2,983,020 3,001,443 Common stock issued in conjunction to acquisitions 227,316 115,051 74,627 Shares to be issued under ESPP 91,634 103,778 106,965 Convertible senior notes 11,183,611 11,183,611 9,572,955 Total 11,502,561 15,101,730 13,688,116

Commitment and Contingencies (T

Commitment and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Summary of Contractual Obligation, Fiscal Year Maturity	The following table presents details of the future non-cancellable purchase commitments under these agreements as of December 31, 2024 (in thousands): 2025 $ 60,125 2026 22,641 2027 17,296 Total $ 100,062

Segment Information and Infor_2

Segment Information and Information about Geographic Areas (Tables)	12 Months Ended
	Dec. 31, 2024
Segment Reporting [Abstract]
Summary of Reconciliation of Consolidating Non-GAAP Income from Operations to GAAP Income (Loss) from Operations	The following table includes segment revenue, segment profit or loss, significant segment expenses regularly provided to the CODM and other segment expenses for the years ended December 31, 2024, 2023 and 2022: Year Ended December 31, 2024 2023 2022 (in thousands) Total revenue $ 844,007 $ 777,707 $ 685,083 Adjusted total cost of revenue 1 221,664 202,655 185,489 Adjusted research and development 1 135,560 138,754 140,030 Adjusted sales and marketing 1 267,483 280,703 273,482 Adjusted general and administrative 1 55,792 53,374 55,696 Other segment expenses 2 137,982 255,036 155,103 Net income (loss) $ 25,526 $ (152,815) $ (124,717) 1 Adjusted total cost of revenue excludes the impact of stock-based compensation expense and amortization of acquired intangible assets. Adjusted research and development excludes the impact of stock-based compensation expense. Adjusted sales and marketing excludes the impact of stock-based compensation and amortization of acquired intangible assets. Adjusted general and administrative excludes the impact of stock-based compensation, amortization of acquired intangible assets, acquisition-related expenses and litigation-related expenses. 2
Summary of Net Revenues of Customer by Geographic Area	The following table summarizes the revenue by region based on the shipping address of customers who have contracted to use our product or service for the years ended December 31, 2024, 2023 and 2022: Year Ended December 31, 2024 2023 2022 (in thousands) North America $ 643,405 $ 607,448 $ 541,812 Rest of world 200,602 170,259 143,271 Total revenue $ 844,007 $ 777,707 $ 685,083 Net revenues by geographic area presented based upon the location of the customer are as follows: Year Ended December 31, 2024 2023 2022 (in thousands) North America $ 643,405 $ 607,448 $ 541,812 Rest of world 200,602 170,259 143,271 Total $ 844,007 $ 777,707 $ 685,083
Summary of Property and Equipment, Net by Geographic Area	Property and equipment, net by geographic area was as follows: As of December 31, 2024 As of December 31, 2023 (in thousands) North America $ 22,613 $ 27,609 Rest of world 9,632 12,033 Total $ 32,245 $ 39,642

Immaterial Correction of an E_2

Immaterial Correction of an Error (Tables)	12 Months Ended
	Dec. 31, 2024
Accounting Changes and Error Corrections [Abstract]
Schedule of Error Corrections and Prior Period Adjustments	The following table sets forth the effect of the immaterial error correction to certain line items of our consolidated statement of operations, consolidated balance sheet and consolidated statement of cash flows as of and for the year ended December 31, 2023: Year Ended December 31, 2023 As Reported Adjustment Revised (in thousands, except per share amounts) Consolidated Statement of Operations: Cost of revenue - product subscriptions $ 202,904 $ 236 $ 203,140 Cost of revenue - professional services $ 28,837 $ 69 $ 28,906 Research and development expense $ 176,776 $ 1,161 $ 177,937 Sales and marketing expense $ 312,636 $ 1,025 $ 313,661 General and administrative expense $ 84,276 $ 1,064 $ 85,340 Net income (loss) $ (149,260) $ (3,555) $ (152,815) Net income (loss) per share, basic $ (2.46) $ (0.06) $ (2.52) Net income (loss) per share, diluted $ (2.46) $ (0.06) $ (2.52) Consolidated Statement of Cash Flows: Net income (loss) $ (149,260) $ (3,555) $ (152,815) Stock-based compensation expense $ 108,081 $ 3,555 $ 111,636 Net cash provided by operating activities $ 104,278 $ — $ 104,278 As of December 31, 2023 As Reported Adjustment Revised (in thousands) Consolidated Balance Sheet: Additional paid-in capital $ 894,630 $ 3,555 $ 898,185 Accumulated deficit $ (1,010,005) $ (3,555) $ (1,013,560) Total stockholders' deficit $ (118,179) $ — $ (118,179) The following tables set forth the effect of the immaterial error corrections to (i) certain line items of our unaudited condensed consolidated statements of operations for the interim periods ended March 31, 2023, June 30, 2023, September 30, 2023 and December 31, 2023, as well as (ii) certain line items of our unaudited condensed consolidated statements of operations and unaudited condensed consolidated statements of cash flows for the interim periods ended March 31, 2024, June 30, 2024 and September 30, 2024. Prospectively, we will effect an immaterial error correction of these unaudited condensed consolidated financial statements for the 2024 interim periods as those statements are reproduced on a comparative basis in our Quarterly Reports on Form 10-Q throughout fiscal year 2025: Three Months Ended March 31, 2023 Three Months Ended June 30, 2023 As Reported Adjustment Revised As Reported Adjustment Revised (unaudited, in thousands, except per share amounts) (unaudited, in thousands, except per share amounts) Consolidated Statement of Operations: Cost of revenue - product subscriptions $ 48,188 $ 36 $ 48,224 $ 51,148 $ 78 $ 51,226 Cost of revenue - professional services $ 7,811 $ 10 $ 7,821 $ 7,016 $ 22 $ 7,038 Research and development expense $ 46,346 $ 148 $ 46,494 $ 50,762 $ 402 $ 51,164 Sales and marketing expense $ 80,587 $ 166 $ 80,753 $ 83,036 $ 332 $ 83,368 General and administrative expense $ 24,207 $ 269 $ 24,476 $ 22,888 $ 562 $ 23,450 Net income (loss) $ (25,915) $ (629) $ (26,544) $ (66,782) $ (1,396) $ (68,178) Net income (loss) per share, basic $ (0.43) $ (0.01) $ (0.44) $ (1.10) $ (0.03) $ (1.13) Net income (loss) per share, diluted $ (0.43) $ (0.01) $ (0.44) $ (1.10) $ (0.03) $ (1.13) Three Months Ended September 30, 2023 Three Months Ended December 31, 2023 As Reported Adjustment Revised As Reported Adjustment Revised (unaudited, in thousands, except per share amounts) (unaudited, in thousands, except per share amounts) Consolidated Statement of Operations: Cost of revenue - product subscriptions $ 51,261 $ 60 $ 51,321 $ 52,307 $ 62 $ 52,369 Cost of revenue - professional services $ 6,569 $ 21 $ 6,590 $ 7,441 $ 16 $ 7,457 Research and development expense $ 39,940 $ 309 $ 40,249 $ 39,729 $ 302 $ 40,031 Sales and marketing expense $ 75,699 $ 284 $ 75,983 $ 73,314 $ 243 $ 73,557 General and administrative expense $ 17,866 $ (76) $ 17,790 $ 19,314 $ 309 $ 19,623 Net income (loss) $ (76,611) $ (598) $ (77,209) $ 20,048 $ (932) $ 19,116 Net income (loss) per share, basic $ (1.25) $ (0.01) $ (1.26) $ 0.33 $ (0.02) $ 0.31 Net income (loss) per share, diluted $ (1.25) $ (0.01) $ (1.26) $ 0.27 $ (0.01) $ 0.26 Three Months Ended March 31, 2024 As Reported Adjustment Revised (unaudited, in thousands, except per share amounts) Consolidated Statement of Operations: Cost of revenue - product subscriptions $ 54,655 $ 79 $ 54,734 Cost of revenue - professional services $ 6,248 $ 12 $ 6,260 Research and development expense $ 40,990 $ 378 $ 41,368 Sales and marketing expense $ 72,805 $ 290 $ 73,095 General and administrative expense $ 19,835 $ 93 $ 19,928 Net income (loss) $ 2,258 $ (852) $ 1,406 Net income (loss) per share, basic $ 0.04 $ (0.02) $ 0.02 Net income (loss) per share, diluted $ 0.03 $ (0.01) $ 0.02 Consolidated Statement of Cash Flows: Net income $ 2,258 $ (852) $ 1,406 Stock-based compensation expense $ 24,893 $ 852 $ 25,745 Net cash provided by operating activities $ 31,070 $ — $ 31,070 Three Months Ended June 30, 2024 Six Months Ended June 30, 2024 As Reported Adjustment Revised As Reported Adjustment Revised (unaudited, in thousands, except per share amounts) (unaudited, in thousands, except per share amounts) Consolidated Statement of Operations: Cost of revenue - product subscriptions $ 54,982 $ 125 $ 55,107 $ 109,637 $ 204 $ 109,841 Cost of revenue - professional services $ 5,866 $ 19 $ 5,885 $ 12,114 $ 31 $ 12,145 Research and development expense $ 40,056 $ 392 $ 40,448 $ 81,046 $ 770 $ 81,816 Sales and marketing expense $ 77,795 $ 331 $ 78,126 $ 150,600 $ 621 $ 151,221 General and administrative expense $ 22,412 $ 790 $ 23,202 $ 42,247 $ 883 $ 43,130 Net income (loss) $ 8,195 $ (1,657) $ 6,538 $ 10,453 $ (2,509) $ 7,944 Net income (loss) per share, basic $ 0.13 $ (0.03) $ 0.10 $ 0.13 $ (0.05) $ 0.08 Net income (loss) per share, diluted $ 0.11 $ (0.02) $ 0.09 $ 0.11 $ (0.03) $ 0.08 Consolidated Statement of Cash Flows: Net income (loss) $ 10,453 $ (2,509) $ 7,944 Stock-based compensation expense $ 52,302 $ 2,509 $ 54,811 Net cash provided by operating activities $ 63,928 $ — $ 63,928 Three Months Ended September 30, 2024 Nine Months Ended September 30, 2024 As Reported Adjustment Revised As Reported Adjustment Revised (unaudited, in thousands, except per share amounts) (unaudited, in thousands, except per share amounts) Consolidated Statement of Operations: Cost of revenue - product subscriptions $ 56,653 $ 121 $ 56,774 $ 166,290 $ 325 $ 166,615 Cost of revenue - professional services $ 6,364 $ 19 $ 6,383 $ 18,478 $ 50 $ 18,528 Research and development expense $ 44,565 $ 411 $ 44,976 $ 125,611 $ 1,181 $ 126,792 Sales and marketing expense $ 74,521 $ 300 $ 74,821 $ 225,121 $ 921 $ 226,042 General and administrative expense $ 18,590 $ 293 $ 18,883 $ 60,837 $ 1,176 $ 62,013 Net income (loss) $ 16,554 $ (1,144) $ 15,410 $ 27,007 $ (3,653) $ 23,354 Net income (loss) per share, basic $ 0.26 $ (0.02) $ 0.24 $ 0.43 $ (0.07) $ 0.36 Net income (loss) per share, diluted $ 0.22 $ (0.01) $ 0.21 $ 0.36 $ (0.04) $ 0.32 Consolidated Statement of Cash Flows: Net income (loss) $ 27,007 $ (3,653) $ 23,354 Stock-based compensation expense $ 76,896 $ 3,653 $ 80,549 Net cash provided by operating activities $ 107,897 $ — $ 107,897

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Organization Consolidation And Presentation Of Financial Statements Disclosure And Significant Accounting Policies [Line Items]
Liability, revenue recognized	$ 457,500,000
Unbilled receivables	2,500,000	$ 2,000,000
Contracts assets	0	0
Restricted cash	$ 7,400,000
Amortization period	3 years
Capitalized computer software, additions	$ 14,200,000	15,900,000	$ 17,100,000
Write-offs of capitalized internal-use software projects	700,000	3,500,000
Impairment of long-lived assets	0	30,784,000	0
Impairment losses		22,200,000
Foreign currency transactional gains (losses)	600,000	(1,400,000)
Foreign currency re-measurement gains (losses)	3,800,000	(400,000)
Sales and marketing
Organization Consolidation And Presentation Of Financial Statements Disclosure And Significant Accounting Policies [Line Items]
Advertising costs	$ 21,700,000	$ 22,400,000	$ 22,700,000
Foreign currency forward contracts designated as cash flow hedges | Designated as Hedging Instrument
Organization Consolidation And Presentation Of Financial Statements Disclosure And Significant Accounting Policies [Line Items]
Term of contract	18 months	18 months
Notional amount	$ 50,400,000	$ 49,500,000
Leasehold Improvements
Organization Consolidation And Presentation Of Financial Statements Disclosure And Significant Accounting Policies [Line Items]
Impairment of long-lived assets		$ 8,600,000
New Customer, Up-sell or Cross-sell
Organization Consolidation And Presentation Of Financial Statements Disclosure And Significant Accounting Policies [Line Items]
Amortization period	5 years
Professional Services Arrangements
Organization Consolidation And Presentation Of Financial Statements Disclosure And Significant Accounting Policies [Line Items]
Amortization period	1 year

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Summary of Useful Lives of Property and Equipment (Details)	Dec. 31, 2024
Computer equipment and software
Property, Plant and Equipment [Line Items]
Useful life	3 years
Minimum | Furniture and fixtures
Property, Plant and Equipment [Line Items]
Useful life	3 years
Maximum | Furniture and fixtures
Property, Plant and Equipment [Line Items]
Useful life	5 years

Revenue from Contracts with C_3

Revenue from Contracts with Customers - Summary of Revenue from Contracts with Customers and Revenue by Region (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Disaggregation of Revenue [Line Items]
Total revenue	$ 844,007	$ 777,707	$ 685,083
North America
Disaggregation of Revenue [Line Items]
Total revenue	643,405	607,448	541,812
Rest of world
Disaggregation of Revenue [Line Items]
Total revenue	$ 200,602	$ 170,259	$ 143,271

Revenue from Contracts with C_4

Revenue from Contracts with Customers - Summary of Estimated Revenue Expected to be Recognized in Future Related to Performance Obligations (Details) $ in Thousands	Dec. 31, 2024 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, amount	$ 601,617
Revenue recognition period	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, amount	$ 296,769
Revenue recognition period
Product subscriptions | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, amount	$ 587,450
Revenue recognition period	12 months
Product subscriptions | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, amount	$ 291,435
Revenue recognition period
Professional services | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, amount	$ 14,167
Revenue recognition period	12 months
Professional services | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, amount	$ 5,334
Revenue recognition period

Business Combinations - Additio

Business Combinations - Additional Information (Details) $ in Thousands			12 Months Ended
	Jul. 03, 2024 USD ($) employee installment	Mar. 14, 2023 USD ($)	Dec. 31, 2024 USD ($) reportingUnit	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Business Acquisition [Line Items]
Share-based payment arrangement, expense			$ 107,961	$ 111,636	$ 119,902
Number of reporting units | reportingUnit			1
Goodwill			$ 575,268	536,351	515,631
General and administrative
Business Acquisition [Line Items]
Share-based payment arrangement, expense			29,469	$ 31,098	$ 28,378
Noetic Cyber, Inc.
Business Acquisition [Line Items]
Total consideration transferred	$ 51,152
Purchase consideration	38,597
Contingent consideration (other current liabilities and other long-term liabilities)	12,100
Deferred cash consideration	500
Business combination contingent consideration payments	20,000
Business combination, contingent consideration, liability remaining	13,100
Business combination, earnout consideration	6,900
Value of equity to be issued	$ 2,300
Number of key employees | employee	2
Number of installments | installment	3
Equity issuance period	36 months
Intangible asset	$ 11,500
Acquisition related transaction costs			800
Net assets acquired	12,235
Goodwill	38,917
Noetic Cyber, Inc. | General and administrative
Business Acquisition [Line Items]
Accretion expense			400
Noetic Cyber, Inc. | Accrued liabilities
Business Acquisition [Line Items]
Contingent consideration (other current liabilities and other long-term liabilities)			12,400
Noetic Cyber, Inc. | Other current liabilities
Business Acquisition [Line Items]
Contingent consideration (other current liabilities and other long-term liabilities)			6,900
Noetic Cyber, Inc. | Other liabilities
Business Acquisition [Line Items]
Contingent consideration (other current liabilities and other long-term liabilities)			$ 5,500
Noetic Cyber, Inc. | Developed technology
Business Acquisition [Line Items]
Share-based payment arrangement, expense	$ 2,100
Useful life (in years)	7 years
Minerva Labs
Business Acquisition [Line Items]
Total consideration transferred		$ 34,600
Purchase consideration		35,000
Intangible asset		12,800
Receivable for purchase price adjustments		(400)
Net assets acquired		13,900
Goodwill		$ 20,700

Business Combinations - Summary

Business Combinations - Summary of Preliminary Allocation of Purchase Price to the Estimated Fair Value of the Assets Acquired and Liabilities (Details) - USD ($) $ in Thousands	Jul. 03, 2024	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Recognized amount of identifiable assets acquired and liabilities assumed:
Goodwill		$ 575,268	$ 536,351	$ 515,631
Noetic Cyber, Inc.
Consideration:
Cash	$ 38,597
Deferred cash consideration	500
Contingent consideration	12,055
Fair value of total consideration transferred	51,152
Recognized amount of identifiable assets acquired and liabilities assumed:
Cash and cash equivalents	1,296
Accounts receivable	510
Prepaid and other current assets	102
Property and equipment, net	19
Accrued expenses and other current liabilities	(220)
Deferred revenue	(910)
Other long-term liabilities	(62)
Intangible asset	11,500
Total identifiable net assets assumed	12,235
Goodwill	38,917
Total purchase price allocation	$ 51,152

Investments - Summary of Invest

Investments - Summary of Investments Classified as Available-for-Sale (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Debt and Equity Securities, FV-NI [Line Items]
Amortized Cost	$ 224,187	$ 225,320
Gross Unrealized Gains	328	467
Gross Unrealized Losses	(216)	(72)
Fair Value	224,299	225,715
U.S government agencies
Debt and Equity Securities, FV-NI [Line Items]
Amortized Cost	224,187	222,820
Gross Unrealized Gains	328	467
Gross Unrealized Losses	(216)	(65)
Fair Value	$ 224,299	223,222
Agency bonds
Debt and Equity Securities, FV-NI [Line Items]
Amortized Cost		2,500
Gross Unrealized Gains		0
Gross Unrealized Losses		(7)
Fair Value		$ 2,493

Investments - Additional Inform

Investments - Additional Information (Details)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Minimum
Schedule of Held-to-Maturity Securities [Line Items]
Remaining maturity	1 month	1 month
Maximum
Schedule of Held-to-Maturity Securities [Line Items]
Remaining maturity	17 months	18 months

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Financial Assets and Liabilities Measured and Recorded at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Assets:
Debt securities	$ 224,299	$ 225,715
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Other assets, Prepaid expenses and other current assets	Other assets, Prepaid expenses and other current assets
Liabilities:
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Accrued expenses and other current liabilities	Accrued expenses and other current liabilities
U.S government agencies
Assets:
Debt securities	$ 224,299	$ 223,222
Agency bonds
Assets:
Debt securities		2,493
Fair Value, Measurements, Recurring
Assets:
Foreign currency forward contracts designated as cash flow hedges (prepaid expenses and other current assets and other assets)	96	1,322
Total assets	224,395	227,037
Liabilities:
Contingent consideration (other current liabilities and other long-term liabilities)	12,422
Foreign currency forward contracts designated as cash flow hedges (other current and long-term liabilities)	1,415	55
Total liabilities	13,837	55
Fair Value, Measurements, Recurring | U.S government agencies
Assets:
Debt securities	224,299	223,222
Fair Value, Measurements, Recurring | Agency bonds
Assets:
Debt securities		2,493
Fair Value, Measurements, Recurring | Level 1
Assets:
Foreign currency forward contracts designated as cash flow hedges (prepaid expenses and other current assets and other assets)	0	0
Total assets	224,299	223,222
Liabilities:
Contingent consideration (other current liabilities and other long-term liabilities)	0
Foreign currency forward contracts designated as cash flow hedges (other current and long-term liabilities)	0	0
Total liabilities	0	0
Fair Value, Measurements, Recurring | Level 1 | U.S government agencies
Assets:
Debt securities	224,299	223,222
Fair Value, Measurements, Recurring | Level 1 | Agency bonds
Assets:
Debt securities		0
Fair Value, Measurements, Recurring | Level 2
Assets:
Foreign currency forward contracts designated as cash flow hedges (prepaid expenses and other current assets and other assets)	96	1,322
Total assets	96	3,815
Liabilities:
Contingent consideration (other current liabilities and other long-term liabilities)	0
Foreign currency forward contracts designated as cash flow hedges (other current and long-term liabilities)	1,415	55
Total liabilities	1,415	55
Fair Value, Measurements, Recurring | Level 2 | U.S government agencies
Assets:
Debt securities	0	0
Fair Value, Measurements, Recurring | Level 2 | Agency bonds
Assets:
Debt securities		2,493
Fair Value, Measurements, Recurring | Level 3
Assets:
Foreign currency forward contracts designated as cash flow hedges (prepaid expenses and other current assets and other assets)	0	0
Total assets	0	0
Liabilities:
Contingent consideration (other current liabilities and other long-term liabilities)	12,422
Foreign currency forward contracts designated as cash flow hedges (other current and long-term liabilities)	0	0
Total liabilities	12,422	0
Fair Value, Measurements, Recurring | Level 3 | U.S government agencies
Assets:
Debt securities	$ 0	0
Fair Value, Measurements, Recurring | Level 3 | Agency bonds
Assets:
Debt securities		$ 0

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) - Convertible Debt $ in Millions	Dec. 31, 2024 USD ($)
The Notes, Due 2025
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest Rate	2.25%
Convertible debt, fair value disclosures	$ 45.2
The Notes, Due 2027
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest Rate	0.25%
Convertible debt, fair value disclosures	$ 553.5
The Notes, Due 2029
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest Rate	1.25%
Convertible debt, fair value disclosures	$ 284.1

Property and Equipment - Summar

Property and Equipment - Summary of Property and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 96,800	$ 93,443
Less accumulated depreciation	(64,555)	(53,801)
Property and equipment, net	32,245	39,642
Computer equipment and software
Property, Plant and Equipment [Line Items]
Property and equipment, gross	28,789	26,442
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property and equipment, gross	10,960	10,850
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 57,051	$ 56,151

Property and Equipment - Additi

Property and Equipment - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 11.1	$ 14	$ 13.6

Goodwill and Intangibles - Addi

Goodwill and Intangibles - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 575,268	$ 536,351	$ 515,631
Amortization expense	33,800	$ 31,900	$ 27,500
Capitalized computer software exclude of gross	$ 9,800

Goodwill and Intangibles - Summ

Goodwill and Intangibles - Summary of Change in Gross Carrying Amount of Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 536,351	$ 515,631
Goodwill, ending balance	575,268	536,351
Minerva acquisition
Goodwill [Roll Forward]
Noetic acquisition		$ 20,720
Noetic acquisition
Goodwill [Roll Forward]
Noetic acquisition	$ 38,917

Goodwill and Intangibles - Su_2

Goodwill and Intangibles - Summary of Identifiable Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Total acquired intangible assets, gross carrying amount	$ 161,474	$ 149,974
Total acquired intangible assets, accumulated amortization	(107,115)	(87,164)
Total acquired intangible assets, net book value	54,359	62,810
Accumulated Amortization	(144,633)	(110,799)
Total intangible assets, gross carrying amount	230,352	205,345
Intangible assets, net book value	$ 85,719	94,546
Developed technology
Finite-Lived Intangible Assets [Line Items]
Weighted- Average Estimated Useful Life (years)	6 years 1 month 6 days
Total acquired intangible assets, gross carrying amount	$ 146,855	135,355
Total acquired intangible assets, accumulated amortization	(94,193)	(77,031)
Total acquired intangible assets, net book value	$ 52,662	58,324
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Weighted- Average Estimated Useful Life (years)	4 years 6 months
Total acquired intangible assets, gross carrying amount	$ 12,000	12,000
Total acquired intangible assets, accumulated amortization	(10,363)	(7,755)
Total acquired intangible assets, net book value	$ 1,637	4,245
Trade names
Finite-Lived Intangible Assets [Line Items]
Weighted- Average Estimated Useful Life (years)	3 years 1 month 6 days
Total acquired intangible assets, gross carrying amount	$ 2,619	2,619
Total acquired intangible assets, accumulated amortization	(2,559)	(2,379)
Total acquired intangible assets, net book value	$ 60	240
Internal-use software
Finite-Lived Intangible Assets [Line Items]
Weighted- Average Estimated Useful Life (years)	3 years
Gross Carrying Amount	$ 68,878	55,371
Accumulated Amortization	(37,518)	(23,635)
Net Book Value	$ 31,360	$ 31,736

Goodwill and Intangibles - Su_3

Goodwill and Intangibles - Summary of Estimated Amortization Expense (Details $ in Thousands	Dec. 31, 2024 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2025	$ 32,532
2026	22,432
2027	10,016
2028	3,243
2029	3,243
2030	4,409
Net Book Value	$ 75,875

Deferred Contract Acquisition_3

Deferred Contract Acquisition and Fulfillment Costs (Details) - Contract Acquisition And Fulfillment Costs - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Capitalized Contract Costs [Roll Forward]
Beginning balance	$ 121,609	$ 103,075
Capitalization of contract acquisition and fulfillment costs	57,796	60,528
Amortization of deferred contract acquisition and fulfillment costs	(53,599)	(41,994)
Ending balance	$ 125,806	$ 121,609

Derivative and Hedging Activi_2

Derivative and Hedging Activities (Details) - Foreign currency forward contracts designated as cash flow hedges - Designated as Hedging Instrument - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Derivative [Line Items]
Term of contract	18 months	18 months
Notional amount	$ 50.4	$ 49.5

Debt - Additional Information (

Debt - Additional Information (Details) - USD ($)	1 Months Ended				12 Months Ended
	Sep. 30, 2023	Dec. 31, 2021	Mar. 31, 2021	May 31, 2020	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Sep. 30, 2021	Apr. 30, 2020
Debt Instrument [Line Items]
Proceeds from convertible debt					$ 0	$ 292,091,000	$ 0
Convertible Debt | Debt Covenant Three
Debt Instrument [Line Items]
Redemption price, percentage				100%
2025 Notes | Convertible Debt
Debt Instrument [Line Items]
Face amount				$ 230,000,000
Converted amount	$ 201,000,000
Repurchased face amount	184,000,000
Proceeds from convertible debt				222,800,000
2027 Notes | Convertible Debt
Debt Instrument [Line Items]
Face amount			$ 600,000,000
Proceeds from convertible debt			$ 585,000,000
2029 Notes | Convertible Debt
Debt Instrument [Line Items]
Face amount	300,000,000
Proceeds from convertible debt	$ 292,000,000
Credit Agreement
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 150,000,000
Credit Agreement | Revolving Credit Facility
Debt Instrument [Line Items]
Current borrowing capacity		100,000,000		$ 50,000,000					$ 30,000,000
Credit sublimit									15,000,000
Maximum borrowing capacity		100,000,000						$ 50,000,000
Fee amount		$ 400,000
Commitment fee percentage		0.20%
Credit Agreement | Letter of Credit
Debt Instrument [Line Items]
Credit sublimit		$ 15,000,000
Maximum borrowing capacity									$ 70,000,000
Credit Agreement | Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Sofr Spread Rate		0.10%
Basis spread on variable rate		2.50%
Credit Agreement | Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate		0%

Debt - Summary of Long-term Deb

Debt - Summary of Long-term Debt Instruments (Details) - Convertible Debt shares in Millions	12 Months Ended
	Dec. 31, 2024 shares $ / shares
2025 Notes
Debt Instrument [Line Items]
Interest Rate	2.25%
Effective Interest Rate	2.88%
Initial Conversion Rate per $1,000 Principal	0.0163875
Initial conversion price (in dollars per share) | $ / shares	$ 61.02
Number of shares (in shares) | shares	0.8
2027 Notes
Debt Instrument [Line Items]
Interest Rate	0.25%
Effective Interest Rate	0.67%
Initial Conversion Rate per $1,000 Principal	0.009673
Initial conversion price (in dollars per share) | $ / shares	$ 103.38
Number of shares (in shares) | shares	5.8
2029 Notes
Debt Instrument [Line Items]
Interest Rate	1.25%
Effective Interest Rate	1.69%
Initial Conversion Rate per $1,000 Principal	0.0154213
Initial conversion price (in dollars per share) | $ / shares	$ 64.85
Number of shares (in shares) | shares	4.6

Debt - Summary of Liability and

Debt - Summary of Liability and Equity Components of Convertible Debt (Details) - Convertible Debt - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Amortization of debt issuance costs	$ 4,255	$ 3,947	$ 3,893
2025 Notes
Debt Instrument [Line Items]
Principal	45,992	45,992
Unamortized debt issuance costs	(97)	(404)
Total	45,895	45,588
Amortization of debt issuance costs	307	1,066	1,425
2027 Notes
Debt Instrument [Line Items]
Principal	600,000	600,000
Unamortized debt issuance costs	(5,564)	(8,077)
Total	594,436	591,923
Amortization of debt issuance costs	2,513	2,487	$ 2,468
2029 Notes
Debt Instrument [Line Items]
Principal	300,000	300,000
Unamortized debt issuance costs	(6,080)	(7,515)
Total	293,920	292,485
Amortization of debt issuance costs	$ 1,435	$ 394

Debt - Summary of Interest Expe

Debt - Summary of Interest Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Induced conversion expense	$ 0	$ 53,889	$ 0
Convertible Debt
Debt Instrument [Line Items]
Contractual interest expense	6,284	6,462	6,676
Amortization of debt issuance costs	4,255	3,947	3,893
Induced conversion expense	0	53,889	0
Total interest expense	10,539	64,298	10,569
Convertible Debt | 2025 Notes
Debt Instrument [Line Items]
Contractual interest expense	1,035	3,795	5,174
Amortization of debt issuance costs	307	1,066	1,425
Induced conversion expense	0	53,889	0
Total interest expense	1,342	58,750	6,599
Convertible Debt | 2027 Notes
Debt Instrument [Line Items]
Contractual interest expense	1,500	1,500	1,502
Amortization of debt issuance costs	2,513	2,487	2,468
Induced conversion expense	0	0	0
Total interest expense	4,013	3,987	$ 3,970
Convertible Debt | 2029 Notes
Debt Instrument [Line Items]
Contractual interest expense	3,749	1,167
Amortization of debt issuance costs	1,435	394
Induced conversion expense	0	0
Total interest expense	$ 5,184	$ 1,561

Debt - Summary of Other Key Ter

Debt - Summary of Other Key Terms and Premiums Paid for the Capped Calls (Details) - Call Option $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($) $ / shares
Capped Calls Entered into in Connection with the Issuance of the 2025 Notes
Debt Instrument [Line Items]
Initial strike price, subject to certain adjustments (in dollars per share)	$ 61.02
Cap price, subject to certain adjustments (in dollars per share)	$ 93.88
Total premium paid | $	$ 27,255
Capped Calls Entered into in Connection with the Issuance of the 2027 Notes
Debt Instrument [Line Items]
Initial strike price, subject to certain adjustments (in dollars per share)	$ 103.38
Cap price, subject to certain adjustments (in dollars per share)	$ 159.04
Total premium paid | $	$ 76,020
Capped Calls Entered into in Connection with the Issuance of the 2029 Notes
Debt Instrument [Line Items]
Initial strike price, subject to certain adjustments (in dollars per share)	$ 64.85
Cap price, subject to certain adjustments (in dollars per share)	$ 97.88
Total premium paid | $	$ 36,570

Leases - Additional Information

Leases - Additional Information (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($) leaseRenewalOption	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Lessee, Lease, Description [Line Items]
Lease term	4 years 10 months 24 days	5 years 8 months 12 days
Number of lease renewal options | leaseRenewalOption	1
Renewal term	5 years
Termination period	1 year
Impairment of long-lived assets	$ 0	$ 30,784	$ 0
Impairment losses		22,200
Office Building
Lessee, Lease, Description [Line Items]
Lease term	7 years 3 months 18 days
Leasehold Improvements
Lessee, Lease, Description [Line Items]
Impairment of long-lived assets		$ 8,600

Leases - Summary of Components

Leases - Summary of Components of Lease Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Leases [Abstract]
Operating lease costs	$ 16,129	$ 16,776
Short-term lease costs	951	1,259
Variable lease costs	8,825	8,219
Total lease costs	$ 25,905	$ 26,254

Leases - Summary of Supplementa

Leases - Summary of Supplemental Balance Sheet Information Related to Operating Leases (Details)	Dec. 31, 2024	Dec. 31, 2023
Leases [Abstract]
Weighted average remaining lease term (in years) - operating leases	4 years 10 months 24 days	5 years 8 months 12 days
Weighted average discount rate - operating leases	6.40%	6.40%

Leases - Summary of Supplemen_2

Leases - Summary of Supplemental Cash Flow Information Related to Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Leases [Abstract]
Cash paid for amounts included in the measurement of lease liabilities	$ 22,870	$ 19,999
ROU assets obtained in exchange for new lease obligations	$ 4,488	$ 8,119

Leases - Summary of Maturities

Leases - Summary of Maturities of Operating Lease Liabilities (Details) $ in Thousands	Dec. 31, 2024 USD ($)
Leases [Abstract]
2025	$ 20,926
2026	18,941
2027	18,761
2028	19,333
2029	16,601
2030 and thereafter	3,275
Total lease payments	97,837
Less: imputed interest	(13,914)
Total	$ 83,923

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Details) $ in Thousands		1 Months Ended			12 Months Ended
	Oct. 08, 2015 shares	Jul. 31, 2024 shares	Jan. 31, 2024 USD ($) installment shares	Jul. 31, 2015 shares	Dec. 31, 2024 USD ($) shares	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment arrangement, expense | $					$ 107,961	$ 111,636	$ 119,902
Number of vesting installments | installment			3
Purchase price of common stock by employees percentage					85%
Performance Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			1 year
Granted (in shares)			279,570
Maximum target payout in shares (percent)			200%
Performance Stock Units | January 2024 Grant
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment arrangement, expense | $			$ 3,400
Targets level attainment (percent)			50%
Performance Stock Units | July 2024 Grant
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment arrangement, expense | $					$ 600
Granted (in shares)		19,605
2015 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares of common stock reserved for future issuance (in shares)				800,000
Share-based compensation, increase in number of shares reserved and available for issuance as percentage under the plan				4%
Increase in number of shares authorized (in shares)	1,500,000
Number of shares authorized (in shares)					25,042,693
Shares available for grant (in shares)					6,118,316
2015 Plan | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period					3 years
2015 Plan | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period					4 years
2024 Bonus Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment arrangement, expense | $					$ 900
2023 Bonus Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment arrangement, expense | $						$ 1,600
2022 Bonus Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment arrangement, expense | $							$ 1,000
Shares to be issued under ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation, increase in number of shares reserved and available for issuance as percentage under the plan					1%
Number of shares authorized (in shares)					5,370,139
Shares available for grant (in shares)					3,076,461
Shares to be issued under ESPP | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee withholding percentage					15%

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment arrangement, expense	$ 107,961	$ 111,636	$ 119,902
Cost of revenue
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment arrangement, expense	12,208	11,005	10,367
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment arrangement, expense	37,566	39,183	49,940
Sales and marketing
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment arrangement, expense	28,718	30,350	31,217
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment arrangement, expense	$ 29,469	$ 31,098	$ 28,378

Stock-Based Compensation - Su_2

Stock-Based Compensation - Summary of Unrecognized Compensation Expense and Estimated Weighted Average Amortization Periods Remaining (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($)
RSUs and PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost, restricted stock	$ 137,525
Unrecognized compensation, recognition period	1 year 10 months 24 days
Purchase rights under our ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost, restricted stock	$ 1,734
Unrecognized compensation, recognition period	7 months 6 days
Earnout and key employee consideration shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost, restricted stock	$ 7,391
Unrecognized compensation, recognition period	1 year 9 months 18 days

Stock-Based Compensation - Su_3

Stock-Based Compensation - Summary of Restricted Stock, Restricted Stock Units and Performance-Based Restricted Stock Units (Details) - RSUs and PSUs - $ / shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Shares
Unvested balance, Beginning balance (in shares)	2,714,426	3,001,443	2,778,877
Granted (in shares)	2,563,810	2,304,140	2,327,216
Vested (in shares)	(1,462,352)	(1,453,713)	(1,481,333)
Forfeited (in shares)	(962,649)	(1,137,444)	(623,317)
Unvested balance, Ending balance (in shares)	2,853,235	2,714,426	3,001,443
Weighted- Average Grant Date Fair Value
Beginning balance (in dollars per share)	$ 66.40	$ 83.88	$ 74.40
Granted (in dollars per share)	53.99	48.83	86.78
Vested (in dollars per share)	64.78	73.29	69.80
Forfeited (in dollars per share)	62.16	67.93	85.93
Ending Balance (in dollars per share)	$ 57.25	$ 66.40	$ 83.88

Stock-Based Compensation - Su_4

Stock-Based Compensation - Summary of Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Shares
Beginning balance (in shares)	716,270	932,126	1,411,387
Granted (in shares)	0	0	0
Exercised (in shares)	(133,182)	(215,856)	(479,223)
Forfeited/cancelled (in shares)	(450)	0	(38)
Ending balance (in shares)	582,638	716,270	932,126
Vested and exercisable (in shares)	582,638
Weighted Average Exercise Price
Beginning balance (in dollars per share)	$ 12.26	$ 12.70	$ 10.74
Granted (in dollars per share)	0	0	0
Exercised (in dollars per share)	11.75	14.14	6.92
Forfeited/cancelled (in dollars per share)	7.73	0	21.15
Ending balance (in dollars per share)	12.38	$ 12.26	$ 12.70
Vested and exercisable (in dollars per share)	$ 12.38
Weighted Average Remaining Contractual Life (in years)
Outstanding	1 year 2 months 12 days
Vested and exercisable	1 year 2 months 12 days
Aggregate Intrinsic Value (in thousands)
Exercised	$ 5,013	$ 6,519	$ 20,764
Outstanding	16,225	$ 32,115	$ 19,837	$ 150,951
Vested and exercisable	$ 16,225

Stock-Based Compensation - Su_5

Stock-Based Compensation - Summary of Share Based Compensation Valuation of Options Granted Assumptions (Details) - Shares to be issued under ESPP - $ / shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility, minimum	37%	47%	37%
Expected volatility, maximum	47%	68%	57%
Risk-free interest rate, minimum	4%	4.50%	0.10%
Risk-free interest rate, maximum	5.40%	5.50%	4%
Expected dividend yield	0%	0%	0%
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term	6 months	6 months	6 months
Grant date fair value per share, maximum (in dollars per share)	$ 9.96	$ 11.70	$ 15.50
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term	1 year	1 year	1 year
Grant date fair value per share, maximum (in dollars per share)	$ 17.25	$ 20.07	$ 29.58

Stock-Based Compensation - Su_6

Stock-Based Compensation - Summary of Common Shares Issued to Employees (Details) - USD ($) $ / shares in Units, $ in Millions	Sep. 13, 2024	Mar. 15, 2024	Sep. 15, 2023	Mar. 15, 2023	Sep. 15, 2022	Mar. 15, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common shares issued (in shares)	144,445	147,445	152,419	177,886	218,314	80,747
Purchase prices (in dollars per share)	$ 29.08		$ 33.78	$ 34.71	$ 45.31
Aggregate proceeds	$ 4.2	$ 5	$ 5.1	$ 6.1	$ 6.2	$ 5.7
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Purchase prices (in dollars per share)		$ 33.78				$ 67.59
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Purchase prices (in dollars per share)		$ 39.78				$ 81.37

Income Taxes - Components of Lo

Income Taxes - Components of Loss Before Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
United States	$ 35,699	$ (139,295)	$ (109,381)
Foreign	5,756	(14,038)	(12,924)
Income (loss) before income taxes	$ 41,455	$ (153,333)	$ (122,305)

Income Taxes - Summary of Incom

Income Taxes - Summary of Income Tax (Benefit) Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Current:
Federal	$ 2,426	$ 428	$ 1
State and local	2,848	1,361	243
Foreign	9,864	3,317	3,608
Total current tax expense	15,138	5,106	3,852
Deferred:
Federal	12	9	10
State and local	0	2	2
Foreign	779	(5,635)	(1,452)
Total deferred tax expense (benefit)	791	(5,624)	(1,440)
Total income tax expense (benefit)	$ 15,929	$ (518)	$ 2,412

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of Income Taxes Computed at Federal Statutory Rate and Provision for Income Taxes (Details)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Federal statutory rate	21%	21%	21%
State taxes, net of federal benefit	6%	(0.50%)	(0.10%)
Permanent differences	7%	(0.90%)	(0.20%)
Stock-based compensation	15.70%	(7.00%)	(2.40%)
Research and development credits	(18.50%)	0.90%	1.40%
Foreign rate differential	3%	0.30%	0.10%
Change in valuation allowance	(11.20%)	(3.20%)	(24.80%)
Excess officers' compensation	5.50%	(1.70%)	(3.10%)
Tax rate change	(13.40%)	(3.40%)	7.80%
Induced conversion expense	0%	(9.50%)	0%
Tax reserves	12.60%	(0.10%)	(0.20%)
Provision to return	(0.50%)	5.20%	(0.30%)
U.S. taxation of international operations	3.50%	0%	0%
Other	7.70%	(0.80%)	(1.10%)
Effective income tax rate	38.40%	0.30%	(1.90%)

Income Taxes - Components of Ne

Income Taxes - Components of Net Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Deferred tax assets:
Accruals and reserves	$ 824	$ 335
Net operating loss carryforwards	121,343	137,706
Deferred revenue	3,192	15,726
Depreciation	4,304	836
Research and development credits	13,697	14,116
Capitalized research and development	90,965	63,234
Operating lease liabilities	18,164	24,012
Stock-based compensation	12,290	9,113
Tax credits	0	1,148
Other	3,369	1,170
Gross deferred tax assets	268,148	267,396
Valuation allowance	(229,283)	(231,661)
Total deferred tax assets	38,865	35,735
Deferred tax liabilities:
Operating lease ROU assets	(10,329)	(11,307)
Deferred contract acquisition and fulfillment costs	(26,277)	(24,251)
Other	(2,944)	(65)
Total deferred tax liabilities	(39,550)	(35,623)
Net deferred tax liabilities		$ 112
Net deferred tax liabilities	$ (685)

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) $ in Thousands, ₪ in Millions	3 Months Ended		12 Months Ended
	Jun. 30, 2024 USD ($)	Jun. 30, 2024 ILS (₪)	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Operating Loss Carryforwards [Line Items]
Increase in deferred tax assets				$ 91,000	$ 63,200
Additional tax credit valuation allowance			$ 4,200
Deferred tax benefit			(791)	5,624	1,440
Current foreign tax expense (benefit)			9,864	3,317	3,608
Deferred foreign income tax expense (benefit)			779	(5,635)	$ (1,452)
Unrecognized tax benefits			9,876	$ 5,041
Unrecognized tax benefits, interest on income taxes expense			400
Income tax examination amount assessed by taxing authorities	$ 88,000	₪ 324
Taxes expected to be imposed upon the repatriation of unremitted foreign earnings			$ 100
Minimum
Operating Loss Carryforwards [Line Items]
Statute of limitation jurisdictions period			3 years
Maximum
Operating Loss Carryforwards [Line Items]
Statute of limitation jurisdictions period			7 years
Decrease in Operating Losses
Operating Loss Carryforwards [Line Items]
Decrease in valuation allowance			$ 2,400
Release of Valuation Allowance Related to Net Deferred Tax Assets in Israel
Operating Loss Carryforwards [Line Items]
Decrease in valuation allowance			1,700
Domestic Tax Jurisdiction
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards, federal			265,600
Operating loss carryforward not subject to expiration			251,500
Domestic Tax Jurisdiction | Research and Development
Operating Loss Carryforwards [Line Items]
Research and development credit carryforwards			9,300
State and Local Jurisdiction
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards, federal			306,000
Operating loss carryforward not subject to expiration			47,800
State and Local Jurisdiction | Research and Development
Operating Loss Carryforwards [Line Items]
Research and development credit carryforwards			4,100
Foreign Tax Jurisdiction
Operating Loss Carryforwards [Line Items]
Operating loss carryforward not subject to expiration			215,500
Foreign Tax Jurisdiction | Research and Development
Operating Loss Carryforwards [Line Items]
Research and development credit carryforwards			$ 300

Income Taxes - Unrecognized Tax

Income Taxes - Unrecognized Tax Benefits (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($)
Unrecognized Tax Benefits [Roll Forward]
Beginning balance	$ 5,041
Additions based on tax positions related to the current year	4,520
Additions for tax positions of prior years	315
Reductions for tax positions of prior years	0
Settlements	0
Ending balance	$ 9,876

Net Income (Loss) Per Share - S

Net Income (Loss) Per Share - Summary of Basic and Diluted Net Loss Per Share of Common Stock (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended							6 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Sep. 30, 2024	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Numerator:
Net income (loss) used to calculate net income (loss), basic	$ 15,410	$ 6,538	$ 1,406	$ 19,116	$ (77,209)	$ (68,178)	$ (26,544)	$ 7,944	$ 23,354	$ 25,526	$ (152,815)	$ (124,717)
Denominator:
Weighted-average common shares outstanding, basic (in Shares)										62,607,583	60,756,087	58,552,065
Dilutive effect of equity incentive plans (in shares)										576,068	0	0
Weighted-average common shares outstanding, diluted (in Shares)										63,183,651	60,756,087	58,552,065
Net loss per share, basic (in dollars per share)	$ 0.24	$ 0.10	$ 0.02	$ 0.31	$ (1.26)	$ (1.13)	$ (0.44)	$ 0.08	$ 0.36	$ 0.41	$ (2.52)	$ (2.13)
Net loss per share, diluted (in dollars per share)	$ 0.21	$ 0.09	$ 0.02	$ 0.26	$ (1.26)	$ (1.13)	$ (0.44)	$ 0.08	$ 0.32	$ 0.40	$ (2.52)	$ (2.13)

Net Income (Loss) Per Share -_2

Net Income (Loss) Per Share - Summary of Antidilutive Securities Excluded From Computation Diluted Weighted Average Shares Outstanding (Details) - shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount (in shares)	11,502,561	15,101,730	13,688,116
Options to purchase common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount (in shares)	0	716,270	932,126
Unvested restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount (in shares)	0	2,983,020	3,001,443
Common stock issued in conjunction to acquisitions
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount (in shares)	227,316	115,051	74,627
Shares to be issued under ESPP
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount (in shares)	91,634	103,778	106,965
Convertible senior notes
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount (in shares)	11,183,611	11,183,611	9,572,955

Commitment and Contingencies -

Commitment and Contingencies - Purchase Obligations (Details) $ in Thousands	Dec. 31, 2024 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2025	$ 60,125
2026	22,641
2027	17,296
Total	$ 100,062

Commitment and Contingencies _2

Commitment and Contingencies - Additional Information (Details) $ in Thousands, ₪ in Millions	3 Months Ended
	Jun. 30, 2024 ILS (₪)	Jun. 30, 2024 USD ($)	Jan. 31, 2025 USD ($)	Dec. 31, 2024 USD ($)
Purchase Commitment, Excluding Long-Term Commitment [Line Items]
2025				$ 60,125
2026				22,641
2027				17,296
Total				$ 100,062
Income tax examination amount assessed by taxing authorities	₪ 324	$ 88,000
Amazon Web Services (AWS) | Subsequent Event
Purchase Commitment, Excluding Long-Term Commitment [Line Items]
2025			$ 93,800
2026			125,000
2027			125,000
2028			125,000
2029			125,000
Total			593,800
Additional obligation over the five-year period			$ 35,000

Employee Benefit Plan - Additio

Employee Benefit Plan - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Retirement Benefits [Abstract]
Requisite service period for eligibility in 401(k) plan	90 days
Employer discretionary contributions	$ 3.5	$ 4.3	$ 4.3

Segment Information and Infor_3

Segment Information and Information about Geographic Areas - Summary of Reconciliation of Consolidated Non-GAAP Income from Operations to GAAP Income (Loss) from Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Total revenue	$ 844,007	$ 777,707	$ 685,083
Income (loss) from operations	35,035	(84,288)	(111,614)
Reportable Segment
Segment Reporting Information [Line Items]
Total revenue	844,007	777,707	685,083
Adjusted total cost of revenue	221,664	202,655	185,489
Adjusted research and development	135,560	138,754	140,030
Adjusted sales and marketing	267,483	280,703	273,482
Adjusted general and administrative	55,792	53,374	55,696
Other segment items	137,982	255,036	155,103
Income (loss) from operations	$ 25,526	$ (152,815)	$ (124,717)

Segment Information and Infor_4

Segment Information and Information about Geographic Areas - Summary of Net Revenues of Customer by Geographic Area (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	$ 844,007	$ 777,707	$ 685,083
North America
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	643,405	607,448	541,812
Rest of world
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	$ 200,602	$ 170,259	$ 143,271

Segment Information and Infor_5

Segment Information and Information about Geographic Areas - Summary of Property and Equipment, Net by Geographic Area (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Revenues from External Customers and Long-Lived Assets [Line Items]
Property and equipment, net	$ 32,245	$ 39,642
North America
Revenues from External Customers and Long-Lived Assets [Line Items]
Property and equipment, net	22,613	27,609
Rest of world
Revenues from External Customers and Long-Lived Assets [Line Items]
Property and equipment, net	$ 9,632	$ 12,033

Restructuring (Details)

Restructuring (Details) - USD ($) $ in Thousands		3 Months Ended	12 Months Ended
	Aug. 07, 2023	Mar. 31, 2024	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Restructuring Cost and Reserve [Line Items]
Workforce reduction percentage	16%
Restructuring charges		$ 200	$ 0	$ 22,227	$ 0
Accelerated cost				1,300
Restructuring reserve, accrual				3,800
Facility Closing
Restructuring Cost and Reserve [Line Items]
Restructuring charges				$ 3,600

Immaterial Correction of an E_3

Immaterial Correction of an Error - Schedule of Error Corrections and Prior Period Adjustments (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended							6 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Sep. 30, 2024	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Cost of revenue										$ 251,035	$ 232,046	$ 214,349
Research and development expense	$ 44,976	$ 40,448	$ 41,368	$ 40,031	$ 40,249	$ 51,164	$ 46,494	$ 81,816	$ 126,792	173,126	177,937	189,970
Sales and marketing expense	74,821	78,126	73,095	73,557	75,983	83,368	80,753	151,221	226,042	298,809	313,661	307,409
General and administrative expense	18,883	23,202	19,928	19,623	17,790	23,450	24,476	43,130	62,013	86,002	85,340	84,969
Net income (loss)	$ 15,410	$ 6,538	$ 1,406	$ 19,116	$ (77,209)	$ (68,178)	$ (26,544)	$ 7,944	$ 23,354	$ 25,526	$ (152,815)	$ (124,717)
Net income (loss) per share, basic (in dollars per share)	$ 0.24	$ 0.10	$ 0.02	$ 0.31	$ (1.26)	$ (1.13)	$ (0.44)	$ 0.08	$ 0.36	$ 0.41	$ (2.52)	$ (2.13)
Net income (loss) per share, diluted (in dollars per share)	$ 0.21	$ 0.09	$ 0.02	$ 0.26	$ (1.26)	$ (1.13)	$ (0.44)	$ 0.08	$ 0.32	$ 0.40	$ (2.52)	$ (2.13)
Stock-based compensation expense			$ 25,745					$ 54,811	$ 80,549	$ 107,961	$ 111,636	$ 119,902
Net cash provided by operating activities			31,070					63,928	107,897	171,670	104,278	78,204
As Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Research and development expense	$ 44,565	$ 40,056	40,990	$ 39,729	$ 39,940	$ 50,762	$ 46,346	81,046	125,611		176,776
Sales and marketing expense	74,521	77,795	72,805	73,314	75,699	83,036	80,587	150,600	225,121		312,636
General and administrative expense	18,590	22,412	19,835	19,314	17,866	22,888	24,207	42,247	60,837		84,276
Net income (loss)	$ 16,554	$ 8,195	$ 2,258	$ 20,048	$ (76,611)	$ (66,782)	$ (25,915)	$ 10,453	$ 27,007		$ (149,260)
Net income (loss) per share, basic (in dollars per share)	$ 0.26	$ 0.13	$ 0.04	$ 0.33	$ (1.25)	$ (1.10)	$ (0.43)	$ 0.13	$ 0.43		$ (2.46)
Net income (loss) per share, diluted (in dollars per share)	$ 0.22	$ 0.11	$ 0.03	$ 0.27	$ (1.25)	$ (1.10)	$ (0.43)	$ 0.11	$ 0.36		$ (2.46)
Stock-based compensation expense			$ 24,893					$ 52,302	$ 76,896		$ 108,081
Net cash provided by operating activities			31,070					63,928	107,897		104,278
Adjustment
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Research and development expense	$ 411	$ 392	378	$ 302	$ 309	$ 402	$ 148	770	1,181		1,161
Sales and marketing expense	300	331	290	243	284	332	166	621	921		1,025
General and administrative expense	293	790	93	309	(76)	562	269	883	1,176		1,064
Net income (loss)	$ (1,144)	$ (1,657)	$ (852)	$ (932)	$ (598)	$ (1,396)	$ (629)	$ (2,509)	$ (3,653)		$ (3,555)
Net income (loss) per share, basic (in dollars per share)	$ (0.02)	$ (0.03)	$ (0.02)	$ (0.02)	$ (0.01)	$ (0.03)	$ (0.01)	$ (0.05)	$ (0.07)		$ (0.06)
Net income (loss) per share, diluted (in dollars per share)	$ (0.01)	$ (0.02)	$ (0.01)	$ (0.01)	$ (0.01)	$ (0.03)	$ (0.01)	$ (0.03)	$ (0.04)		$ (0.06)
Stock-based compensation expense			$ 852					$ 2,509	$ 3,653		$ 3,555
Net cash provided by operating activities			0					0	0		0
Product subscriptions
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Cost of revenue	$ 56,774	$ 55,107	54,734	$ 52,369	$ 51,321	$ 51,226	$ 48,224	109,841	166,615	225,547	203,140	182,212
Product subscriptions | As Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Cost of revenue	56,653	54,982	54,655	52,307	51,261	51,148	48,188	109,637	166,290		202,904
Product subscriptions | Adjustment
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Cost of revenue	121	125	79	62	60	78	36	204	325		236
Professional services
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Cost of revenue	6,383	5,885	6,260	7,457	6,590	7,038	7,821	12,145	18,528	$ 25,488	28,906	$ 32,137
Professional services | As Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Cost of revenue	6,364	5,866	6,248	7,441	6,569	7,016	7,811	12,114	18,478		28,837
Professional services | Adjustment
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Cost of revenue	$ 19	$ 19	$ 12	$ 16	$ 21	$ 22	$ 10	$ 31	$ 50		$ 69

Immaterial Correction of an E_4

Immaterial Correction of an Error - Schedule of Error Corrections and Prior Period Adjustments - Balance Sheet Amounts (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Additional paid-in-capital	$ 1,011,080	$ 898,185
Accumulated deficit	(988,034)	(1,013,560)
Total stockholders' deficit	$ 17,711	(118,179)	$ (120,074)	$ (125,995)
As Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Additional paid-in-capital		894,630
Accumulated deficit		(1,010,005)
Total stockholders' deficit		(118,179)
Adjustment
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Additional paid-in-capital		3,555
Accumulated deficit		(3,555)
Total stockholders' deficit		$ 0