Snap (SNAP) 10-Q 22 Apr 20 2020 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2020	Apr. 17, 2020
Entity Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Trading Symbol	SNAP
Entity Central Index Key	0001564408
Entity Registrant Name	SNAP INC
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Title of 12(b) Security	Class A Common Stock, par value $0.00001 per share
Security Exchange Name	NYSE
Entity File Number	001-38017
Entity Tax Identification Number	45-5452795
Entity Address, Address Line One	2772 Donald Douglas Loop North
Entity Address, City or Town	Santa Monica
Entity Address, State or Province	CA
Entity Incorporation, State or Country Code	DE
Entity Address, Postal Zip Code	90405
City Area Code	(310)
Local Phone Number	399-3339
Document Quarterly Report	true
Document Transition Report	false
Class A Common Stock
Entity Information [Line Items]
Entity Common Stock Shares Outstanding		1,188,374,911
Class B Common Stock
Entity Information [Line Items]
Entity Common Stock Shares Outstanding		24,279,209
Class C Common Stock
Entity Information [Line Items]
Entity Common Stock Shares Outstanding		232,782,607

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Cash flows from operating activities
Net loss	$ (305,936)	$ (310,407)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization	21,204	23,319
Stock-based compensation	172,049	162,556
Deferred income taxes	(394)	(266)
Amortization of debt discount and issuance costs	11,563
Other	10,424	(1,917)
Change in operating assets and liabilities, net of effect of acquisitions:
Accounts receivable, net of allowance	92,892	71,870
Prepaid expenses and other current assets	(12,867)	271
Operating lease right-of-use assets	8,716	9,812
Other assets	(1,155)	(368)
Accounts payable	5,734	3,090
Accrued expenses and other current liabilities	17,910	(14,323)
Operating lease liabilities	(13,994)	(10,470)
Other liabilities	137	655
Net cash provided by (used in) operating activities	6,283	(66,178)
Cash flows from investing activities
Purchases of property and equipment	(10,891)	(11,814)
Non-marketable investments	(35,500)	(2,250)
Purchases of marketable securities	(552,675)	(525,520)
Sales of marketable securities	217,958
Maturities of marketable securities	752,685	458,627
Other		29
Net cash provided by (used in) investing activities	371,577	(80,928)
Cash flows from financing activities
Proceeds from the exercise of stock options	3,130	5,596
Net cash provided by financing activities	3,130	5,596
Change in cash, cash equivalents, and restricted cash	380,990	(141,510)
Cash, cash equivalents, and restricted cash, beginning of period	521,260	388,974
Cash, cash equivalents, and restricted cash, end of period	902,250	247,464
Supplemental disclosures
Cash paid for income taxes, net	808	320
Cash paid for interest	$ 4,899	$ 358

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Income Statement [Abstract]
Revenue	$ 462,478	$ 320,426
Costs and expenses:
Cost of revenue	253,410	203,767
Research and development	238,613	216,185
Sales and marketing	122,205	97,882
General and administrative	134,614	118,653
Total costs and expenses	748,842	636,487
Operating loss	(286,364)	(316,061)
Interest income	8,589	7,816
Interest expense	(15,113)	(756)
Other income (expense), net	(12,389)	(1,127)
Loss before income taxes	(305,277)	(310,128)
Income tax benefit (expense)	(659)	(279)
Net loss	$ (305,936)	$ (310,407)
Net loss per share attributable to Class A, Class B, and Class C common stockholders (Note 3):
Basic	$ (0.21)	$ (0.23)
Diluted	$ (0.21)	$ (0.23)
Weighted average shares used in computation of net loss per share:
Basic	1,426,305	1,340,615
Diluted	1,426,305	1,340,615

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Statement Of Income And Comprehensive Income [Abstract]
Net loss	$ (305,936)	$ (310,407)
Other comprehensive income (loss), net of tax
Unrealized gain (loss) on marketable securities, net of tax	3,694	309
Foreign currency translation	(7,163)	(3,524)
Total other comprehensive income (loss), net of tax	(3,469)	(3,215)
Total comprehensive income (loss)	$ (309,405)	$ (313,622)

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Current assets
Cash and cash equivalents	$ 901,342	$ 520,317
Marketable securities	1,180,533	1,592,488
Accounts receivable, net of allowance	394,053	492,194
Prepaid expenses and other current assets	51,943	38,987
Total current assets	2,527,871	2,643,986
Property and equipment, net	173,751	173,667
Operating lease right-of-use assets	267,479	275,447
Intangible assets, net	83,900	92,121
Goodwill	756,389	761,153
Other assets	89,120	65,550
Total assets	3,898,510	4,011,924
Current liabilities
Accounts payable	54,068	46,886
Operating lease liabilities	40,189	42,179
Accrued expenses and other current liabilities	428,934	410,610
Total current liabilities	523,191	499,675
Convertible senior notes, net	903,339	891,776
Operating lease liabilities, noncurrent	289,754	303,178
Other liabilities	57,319	57,382
Total liabilities	1,773,603	1,752,011
Commitments and contingencies (Note 8)
Stockholders’ equity
Additional paid-in capital	9,380,435	9,205,256
Accumulated other comprehensive income (loss)	(2,896)	573
Accumulated deficit	(7,252,646)	(6,945,930)
Total stockholders’ equity	2,124,907	2,259,913
Total liabilities and stockholders’ equity	3,898,510	4,011,924
Class A Non-voting Common Stock
Stockholders’ equity
Common stock, value	12	12
Class C Voting Common Stock
Stockholders’ equity
Common stock, value	$ 2	$ 2

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2020	Dec. 31, 2019
Class A Non-voting Common Stock
Common stock par value	$ 0.00001	$ 0.00001
Common stock authorized	3,000,000,000	3,000,000,000
Common stock issued	1,182,527,000	1,160,127,000
Common stock outstanding	1,182,527,000	1,160,127,000
Class B Voting Common Stock
Common stock par value	$ 0.00001	$ 0.00001
Common stock authorized	700,000,000	700,000,000
Common stock issued	24,279,000	24,522,000
Common stock outstanding	24,279,000	24,522,000
Class C Voting Common Stock
Common stock par value	$ 0.00001	$ 0.00001
Common stock authorized	260,888,000	260,888,000
Common stock issued	232,783,000	231,147,000
Common stock outstanding	232,783,000	231,147,000

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands	Total	Additional Paid-in Capital	Accumulated Deficit	Accumulated Other Comprehensive Income (Loss)	Class A Non-voting Common Stock	Class A Non-voting Common StockCommon Stock	Class B Common Stock	Class B Common StockCommon Stock	Class C Common Stock	Class C Common StockCommon Stock
Balance, beginning of period, shares at Dec. 31, 2018						999,304		93,846		224,611
Balance, beginning of period at Dec. 31, 2018		$ 8,220,417	$ (5,912,578)	$ 3,147		$ 10		$ 1		$ 2
Shares issued in connection with exercise of stock options under stock-based compensation plans, shares						1,260		650
Shares issued in connection with exercise of stock options under stock-based compensation plans		5,635
Issuance of voting/non-voting common stock for vesting of restricted stock units and restricted stock awards, shares						13,382		203
Conversion of stock to voting/non-voting common stock, shares						43,189		(43,189)
Conversion of stock to voting/non-voting common stock						$ 1
Issuance of Class C voting common stock for settlement of restricted stock awards net, Shares										1,676
Stock-based compensation expense		162,556
Net loss	$ (310,407)		(310,407)		$ (239,860)		$ (13,601)		$ (56,946)
Other comprehensive income (loss), net of tax	$ (3,215)			(3,215)
Balance, end of period, shares at Mar. 31, 2019	1,334,932					1,057,135		51,510		226,287
Balance, end of period at Mar. 31, 2019	$ 2,165,877	8,388,608	(6,222,677)	(68)		$ 11		$ 1		$ 2
Cumulative-effect adjustment from accounting changes			308
Balance, beginning of period, shares at Dec. 31, 2019						1,160,127		24,522		231,147
Balance, beginning of period at Dec. 31, 2019	2,259,913	9,205,256	(6,945,930)	573		$ 12				$ 2
Shares issued in connection with exercise of stock options under stock-based compensation plans, shares						396		2
Shares issued in connection with exercise of stock options under stock-based compensation plans		3,130
Issuance of voting/non-voting common stock for vesting of restricted stock units and restricted stock awards, shares						21,759
Conversion of stock to voting/non-voting common stock, shares						245		(245)
Issuance of Class C voting common stock for settlement of restricted stock awards net, Shares										1,636
Stock-based compensation expense		172,049
Net loss	(305,936)		(305,936)		$ (249,240)		$ (5,223)		$ (51,473)
Other comprehensive income (loss), net of tax	$ (3,469)			(3,469)
Balance, end of period, shares at Mar. 31, 2020	1,439,589					1,182,527		24,279		232,783
Balance, end of period at Mar. 31, 2020	$ 2,124,907	$ 9,380,435	(7,252,646)	$ (2,896)		$ 12				$ 2
Cumulative-effect adjustment from accounting changes			$ (780)

Description of Business and Sum

Description of Business and Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
Description of Business and Summary of Significant Accounting Policies	1. Description of Business and Summary of Significant Accounting Policies Snap Inc. is a camera company. Snap Inc. (“we,” “our,” or “us”) was formed as Future Freshman, LLC, a California limited liability company, in 2010. We changed our name to Toyopa Group, LLC in 2011, incorporated as Snapchat, Inc., a Delaware corporation, in 2012, and changed our name to Snap Inc. in 2016. Snap Inc. is headquartered in Santa Monica, California. Our flagship product, Snapchat, is a camera application that was created to help people communicate through short videos and images called “Snaps.” Basis of Presentation The accompanying unaudited consolidated financial statements are prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information. Our consolidated financial statements include the accounts of Snap Inc. and our wholly owned subsidiaries. All intercompany transactions and balances have been eliminated in consolidation. Our fiscal year ends on December 31. These unaudited interim consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2019, as filed with the SEC on February 4, 2020 (the “Annual Report”). In our opinion, the unaudited interim consolidated financial statements include all adjustments of a normal recurring nature necessary for the fair presentation of our financial position, results of operations, and cash flows. The results of operations for the three months ended March 31, 2020 are not necessarily indicative of the results to be expected for the year ending December 31, 2020. Other than described below, there have been no changes to our significant accounting policies described in our Annual Report that have had a material impact on our consolidated financial statements and related notes. Use of Estimates The preparation of our consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts in the consolidated financial statements. Management’s estimates are based on historical information available as of the date of the consolidated financial statements and various other assumptions that we believe are reasonable under the circumstances. Actual results could differ from those estimates. Key estimates relate primarily to determining the fair value of assets and liabilities assumed in business combinations, evaluation of contingencies, uncertain tax positions, excess inventory reserves, lease exit charges, forfeiture rate, the fair value of convertible senior notes, and the fair value of stock-based awards. On an ongoing basis, management evaluates our estimates compared to historical experience and trends, which form the basis for making judgments about the carrying value of assets and liabilities. Recent Accounting Pronouncements In August 2018, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2018-15, Intangibles — Goodwill and Other — Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract. ASU 2018-15 aligns the requirements for capitalizing implementation costs in a cloud computing arrangement service contract with the requirements for capitalizing implementation costs incurred for an internal-use software license. The guidance is effective for interim and annual periods beginning after December 15, 2019, with early adoption permitted. We adopted ASU 2018-15 effective January 1, 2020. The impact of adoption of these standards on our consolidated financial statements, including accounting policies, processes, and systems, was not material. In June 2016, the FASB issued ASU 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. ASU 2016-13 replaced the incurred loss impairment methodology under current GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. ASU 2016-13 requires use of a forward-looking expected credit loss model for accounts receivables, loans, and other financial instruments. ASU 2016-13 is effective for fiscal years beginning after December 15, 2019, with early adoption permitted. Adoption of the standard requires using a modified retrospective approach through a cumulative-effect adjustment to retained earnings as of the effective date to align existing credit loss methodology with the new standard . In November 2019, the FASB issued ASU 2019-11, Codification Improvements to Topic 326, Financial Instruments—Credit Losses. ASU 2019-11 requires entities that did not adopt the amendments in ASU 2016-13 as of November 2019 to adopt ASU 2019-11. This ASU contains the same effective dates and transition requirements as ASU 2016-13. We adopted ASU 2016-13 and ASU 2019-11 effective January 1, 2020. The impact of adoption of these standards on our consolidated financial statements, including accounting policies, processes, and systems, wa s not material.

Revenue

Revenue	3 Months Ended
	Mar. 31, 2020
Revenue From Contract With Customer [Abstract]
Revenue	2. Revenue Revenue is recognized when control of the promised goods or services is transferred to our customers, in an amount that reflects the consideration we expect to receive in exchange for those goods or services. We determine collectability by performing ongoing credit evaluations and monitoring customer accounts receivable balances. Sales tax, including value added tax, is excluded from reported revenue. We generate substantially all of our revenues by offering various advertising products on Snapchat, which include Snap Ads and Sponsored Creative Tools, and measurement services, referred to as advertising revenue. Sponsored Creative Tools include Sponsored Geofilters and Sponsored Lenses. Sponsored Geofilters allow users to interact with an advertiser’s brand by enabling stylized brand artwork to be overlaid on a Snap. Sponsored Lenses allow users to interact with an advertiser’s brand by enabling branded augmented reality experiences. The substantial majority of advertising revenue is generated from the display of advertisements on Snapchat through contractual agreements that are either on a fixed fee basis over a period of time or based on the number of advertising impressions delivered. Revenue related to agreements based on the number of impressions delivered is recognized when the advertisement is displayed. Revenue related to fixed fee arrangements is recognized ratably over the service period, typically less than 30 days in duration, and such arrangements do not contain minimum impression guarantees. In determining whether an arrangement exists, we ensure that an agreement, such as an insertion order or self-serve terms, have been fully executed or accepted electronically. We sell advertising directly to advertisers (“Snap-sold” revenue) and certain partners that provide content on Snapchat (“content partners”) also sell directly to advertisers (“partner-sold” revenue). Snap Ads may be subject to revenue sharing agreements between us and our content partners. Our Sponsored Creative Tools and measurement services are only Snap-sold and are not subject to revenue sharing arrangements. Snap-sold revenue is recognized based on the gross amount that we charge the advertiser. Partner-sold revenue is recognized based on the net amount of revenue to be received from the content partners. We recognize Snap-sold revenue on a gross basis predominantly because we are the primary obligor responsible for fulfilling advertisement delivery, including the acceptability of the services delivered. For Snap-sold advertising, we enter into contractual arrangements directly with advertisers. We are directly responsible for the fulfillment of the contractual terms and any remedy for issues with such fulfillment. For Snap-sold revenue, we also have latitude in establishing the selling price with the advertiser, as we sell advertisements at a rate determined at our sole discretion. We recognize partner-sold revenue on a net basis predominantly because the content partner, and not Snap, is the primary obligor responsible for fulfillment, including the acceptability of the services delivered. In partner-sold advertising arrangements, the content partner has a direct contractual relationship with the advertiser. There is no contractual relationship between us and the advertiser for partner-sold transactions. When a content partner sells advertisements, the content partner is responsible for fulfilling the advertisements, and accordingly, we have determined the content partner is the primary obligor. Additionally, we do not have any latitude in establishing the price with the advertiser for partner-sold advertising. The content partner may sell advertisements at a rate determined at its sole discretion. For the periods presented, partner-sold revenue was not material. We also generate revenue from sales of our hardware product, Spectacles. For the periods presented, revenue from the sales of Spectacles was not material. The following table represents our revenue disaggregated by geography based on the billing address of the advertising customer: Three Months Ended March 31, 2020 2019 (in thousands) Revenue: North America (1) (2) $ 281,274 $ 195,958 Europe (3) 81,077 56,581 Rest of world 100,127 67,887 Total revenue $ 462,478 $ 320,426 (1) North America includes Mexico, the Caribbean, and Central America. (2) United States revenue was $273.2 million and $188.8 million for the three months ended March 31, 2020 and 2019, respectively. (3) Europe includes Russia and Turkey.

Net Loss per Share

Net Loss per Share	3 Months Ended
	Mar. 31, 2020
Earnings Per Share [Abstract]
Net Loss per Share	3. Net Loss per Share We compute net loss per share using the two-class method required for multiple classes of common stock. We have three classes of authorized common stock for which voting rights differ by class. Basic net loss per share is computed by dividing net loss attributable to each class of stockholders by the weighted-average number of shares of stock outstanding during the period. Vested restricted stock units (“RSUs”) that have not been settled, including the vested Chief Executive Officer (“CEO”) RSU award that was received upon our initial public offering (“IPO”) (“CEO Award”), and restricted stock awards (“RSAs”) for which the risk of forfeiture has lapsed have been included in the appropriate common share class used to calculate basic net loss per share. For the calculation of diluted net loss per share, net loss per share attributable to common stockholders for basic net loss per share is adjusted by the effect of dilutive securities, including awards under our equity compensation plans. Diluted net loss per share attributable to common stockholders is computed by dividing the resulting net loss attributable to common stockholders by the weighted-average number of fully diluted common shares outstanding. We use the if-converted method for calculating any potential dilutive effect of the senior convertible notes (the “Convertible Notes”) on diluted net loss per share, subject to meeting the criteria for using the treasury stock method in future periods. The Convertible Notes would have a dilutive impact on net income per share when the average market price of Class A common stock for a given period exceeds the conversion price of the Convertible Notes. For the periods presented, our potentially dilutive shares relating to stock options, RSUs, RSAs, Convertible Notes, and common stock subject to repurchase were not included in the computation of diluted net loss per share as the effect of including these shares in the calculation would have been anti-dilutive. The numerators and denominators of the basic and diluted net loss per share computations for our common stock are calculated as follows for the three months ended March 31, 2020 and 2019: Three Months Ended March 31, 2020 2019 (in thousands, except per share data) Class A Common Class B Common Class C Common Class A Common Class B Common Class C Common Numerator: Net loss $ (249,240 ) $ (5,223 ) $ (51,473 ) $ (239,860 ) $ (13,601 ) $ (56,946 ) Net loss attributable to common stockholders $ (249,240 ) $ (5,223 ) $ (51,473 ) $ (239,860 ) $ (13,601 ) $ (56,946 ) Denominator: Basic shares: Weighted-average common shares - Basic 1,161,982 24,352 239,971 1,035,932 58,741 245,942 Diluted shares: Weighted-average common shares - Diluted 1,161,982 24,352 239,971 1,035,932 58,741 245,942 Net loss per share attributable to common stockholders: Basic $ (0.21 ) $ (0.21 ) $ (0.21 ) $ (0.23 ) $ (0.23 ) $ (0.23 ) Diluted $ (0.21 ) $ (0.21 ) $ (0.21 ) $ (0.23 ) $ (0.23 ) $ (0.23 ) The following potentially dilutive shares were excluded from the calculation of diluted net loss per share because their effect would have been anti-dilutive for the periods presented: Three Months Ended March 31, 2020 2019 (in thousands) Stock options 9,793 13,382 Unvested RSUs and RSAs 143,511 181,321 Convertible Notes (if-converted) 55,468 —

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stockholders' Equity	4. Stockholders’ Equity We maintain three share-based employee compensation plans: the 2017 Equity Incentive Plan (“2017 Plan”), the 2014 Equity Incentive Plan (“2014 Plan”), and the 2012 Equity Incentive Plan (“2012 Plan”, and collectively with the 2017 Plan and the 2014 Plan, the “Stock Plans”). In January 2017, our board of directors adopted the 2017 Plan, and in February 2017 our stockholders approved the 2017 Plan, effective on March 1, 2017, which serves as the successor to the 2014 Plan and 2012 Plan and provides for the grant of incentive stock options to employees, including employees of any parent or subsidiary, and for the grant of nonstatutory stock options, stock appreciation rights, RSAs, RSUs, performance stock awards, performance cash awards, and other forms of stock awards to employees, directors, and consultants, including employees and consultants of our affiliates. Restricted Stock Units and Restricted Stock Awards The following table summarizes the RSU and RSA activity during the three months ended March 31, 2020: Class A Outstanding Weighted- Average Grant Date Fair Value (in thousands, except per share data) Unvested at December 31, 2019 148,797 $ 12.39 Granted 14,903 $ 16.58 Vested (17,915 ) $ 13.43 Forfeited (2,274 ) $ 13.59 Unvested at March 31, 2020 143,511 $ 12.68 RSUs granted to employees before January 1, 2017 (“Pre-2017 Awards”) included both service-based and performance conditions to vest in the underlying common stock. The performance condition related to Pre-2017 Awards was satisfied on the effectiveness of the registration statement for our IPO, which occurred in March 2017. Total unrecognized compensation cost related to Pre-2017 Awards was $17.0 million as of March 31, 2020 and is expected to be recognized over a weighted-average period of 0.6 years. All RSUs and RSAs granted after December 31, 2016 vest on the satisfaction of only a service-based condition (“Post-2017 Awards”). Total unrecognized compensation cost related to Post-2017 Awards was $1.5 billion as of March 31, 2020 and is expected to be recognized over a weighted-average period of 2.8 years. The service condition for Post-2017 Awards granted prior to February 2018 is generally satisfied over four years, 10% after the first year of service, 20% over the second year, 30% over the third year, and 40% over the fourth year. In limited instances, we have issued Post-2017 Awards with vesting periods in excess of four years. The service condition for Post-2017 Awards granted after February 2018 is generally satisfied in equal monthly or quarterly installments over four years. Additionally, we had 7.6 million and 9.4 million RSUs that were vested but have not yet settled as of March 31, 2020 and December 31, 2019, respectively. These RSUs are primarily related to the CEO award. Stock Options The following table summarizes the stock option award activity under the Stock Plans during the three months ended March 31, 2020: Class A Number of Shares Class B Number of Shares Weighted- Average Exercise Price Weighted- Average Remaining Contractual Term (in years) Aggregate Intrinsic Value (1) (in thousands, except per share data) Outstanding at December 31, 2019 8,712 1,550 $ 9.00 5.59 $ 75,460 Granted — — $ — — $ — Exercised (396 ) (2 ) $ 7.86 — $ — Forfeited (71 ) — $ 12.79 — $ — Outstanding at March 31, 2020 8,245 1,548 $ 9.02 5.26 $ 41,095 (1) The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying stock option awards and the closing market price of our Class A common stock as of December 31, 2019 and March 31, 2020, respectively. Total unrecognized compensation cost related to unvested stock options was $13.2 million as of March 31, 2020 Stock-Based Compensation Expense by Function Total stock-based compensation expense by function was as follows: Three Months Ended March 31, 2020 2019 (in thousands) Cost of revenue $ 1,782 $ 1,849 Research and development 118,317 112,242 Sales and marketing 24,806 17,760 General and administrative 27,144 30,705 Total $ 172,049 $ 162,556

Business Acquisitions and Dives

Business Acquisitions and Divestitures	3 Months Ended
	Mar. 31, 2020
Business Combinations [Abstract]
Business Acquisitions and Divestitures	5. Business Acquisitions and Divestitures 2019 Acquisitions and Divestiture AI Factory, Inc. In December 2019, we acquired the remaining ownership interest in AI Factory, Inc. (“AI Factory”), a content and technology company. Prior to the acquisition, we owned a minority interest in the company. The purpose of the acquisition was to enhance the functionality of our platform. The acquisition date fair value of AI Factory was $128.1 million, which primarily represents current and future cash consideration payments to sellers, as well as the $13.5 million fair value of our original minority interest. We recognized the change in pre-acquisition fair value of our original minority interest as a gain in other income (expense), net on the consolidated statement of operations. The allocation of acquisition date fair value is as follows: Total (in thousands) Technology $ 16,000 Goodwill 110,734 Other assets acquired and liabilities assumed, net 1,353 Total $ 128,087 The goodwill amount represents synergies related to our existing platform expected to be realized from this business combination and assembled workforce. The associated goodwill and intangible assets are not deductible for tax purposes. Placed, LLC In June 2019, we divested our membership interest in Placed, LLC (“Placed”) to Foursquare Labs, Inc. (“Foursquare”). The total cash consideration received was $77.8 million, which includes amounts paid for severance and equity compensation. The remaining $66.9 million represents purchase consideration and we recognized a net gain on divestiture of $39.9 million, which is included in other income (expense), net, on our consolidated statements of operations. The operating results of Placed were not material to our consolidated revenue or consolidated operating loss for all periods presented. We determined that Placed did not meet the criteria to be classified as discontinued operations. Placed assets and liabilities on completion of the divestiture were as follows: Total (in thousands) Trademarks, net $ 1,052 Technology, net 14,193 Customer relationships, net 5,246 Goodwill 2,682 Other assets and liabilities, net 3,827 Total $ 27,000 Other Acquisitions In the fourth quarter of 2019, we acquired a business to enhance our existing platform, technology, and workforce. The purchase consideration was $34.0 million of which $23.5 million was allocated to goodwill and the remainder primarily to identifiable intangible assets. The goodwill amount represents synergies related to our existing platform expected to be realized from this business combination and assembled workforce. The associated goodwill and intangible assets are deductible for tax purposes.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	3 Months Ended
	Mar. 31, 2020
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	6. Goodwill and Intangible Assets The changes in the carrying amount of goodwill for the three months ended March 31, 2020 were as follows: Goodwill (in thousands) Balance as of December 31, 2019 $ 761,153 Foreign currency translation (4,764 ) Balance as of March 31, 2020 $ 756,389 Intangible assets consisted of the following: March 31, 2020 Weighted- Average Remaining Useful Life - Years Gross Carrying Amount Accumulated Amortization Net (in thousands, except years) Domain names 2.4 $ 414 $ 220 $ 194 Acquired developed technology 3.4 157,400 85,579 71,821 Patents 5.7 19,360 7,475 11,885 $ 177,174 $ 93,274 $ 83,900 December 31, 2019 Weighted- Average Remaining Useful Life - Years Gross Carrying Amount Accumulated Amortization Net (in thousands except years) Domain names 2.6 $ 5,414 $ 5,200 $ 214 Trademarks — 3,072 3,072 — Acquired developed technology 3.6 175,414 95,921 79,493 Customer relationships — 2,172 2,172 — Patents 5.9 19,710 7,296 12,414 $ 205,782 $ 113,661 $ 92,121 Amortization of intangible assets was $8.0 million and $10.4 million for the three months ended March 31, 2020 and 2019, respectively. As of March 31, 2020, the estimated intangible asset amortization expense for the next five years and thereafter is as follows: Estimated Amortization (in thousands) Remainder of 2020 $ 21,096 2021 23,441 2022 16,837 2023 14,396 2024 6,236 Thereafter 1,894 Total $ 83,900

Convertible Notes

Convertible Notes	3 Months Ended
	Mar. 31, 2020
Debt Disclosure [Abstract]
Convertible Notes	7. Convertible Notes In August 2019, we entered into a purchase agreement with certain counterparties for the sale of an aggregate of $1.265 billion principal amount of the Convertible Notes in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). The Convertible Notes consisted of a $1.1 billion initial placement and an over-allotment option that provided the initial purchasers of the Convertible Notes with the option to purchase an additional $165.0 million aggregate principal amount of the Convertible Notes, which was fully exercised. The Convertible Notes were issued pursuant to an Indenture, dated August 9, 2019 (the “Indenture”). The net proceeds from the issuance of the Convertible Notes were $1.15 billion, net of debt issuance costs and cash used to purchase the capped call transactions (“Capped Call Transactions”) discussed below. The Convertible Notes are unsecured and unsubordinated obligations. Interest is payable in cash semi-annually in arrears beginning on February 1, 2020 at a rate of 0.75% per year. The Convertible Notes mature on August 1, 2026 unless repurchased, redeemed, or converted in accordance with the terms prior to such date. The Convertible Notes are convertible into cash, shares of our Class A common stock, or a combination of cash and shares of our Class A common stock, at our election, at an initial conversion rate of 43.8481 shares of Class A common stock per $1,000 principal amount of Convertible Notes, which is equivalent to an initial conversion price of approximately $22.81 (the “Conversion Price”) per share of our Class A common stock. The conversion rate is subject to customary adjustments for certain events as described in the Indenture. We may redeem for cash all or any portion of the Convertible Notes, at our option, on or after August 6, 2023 if the last reported sale price of our Class A common stock has been at least 130% of the Conversion Price then in effect for at least 20 trading days at a redemption price equal to 100% of the principal amount of the Convertible Notes to be redeemed, plus accrued and unpaid interest. Holders of the Convertible Notes may convert all or a portion of their Convertible Notes at their option prior to May 1, 2026, in multiples of $1,000 principal amounts, only under the following circumstances: • if the last reported sale price of our Class A common stock for at least 20 trading days (whether or not consecutive) during the period of 30 consecutive trading days ending on the last trading day of the preceding calendar quarter is greater than or equal to 130% of the applicable conversion price of the Convertible Notes on each such trading day; • during the five business day period after any ten consecutive trading day period in which the trading price per $1,000 principal amount of the Convertible Notes for each day of that ten consecutive trading day period was less than 98% of the product of the last reported sale price of our Class A common stock and the applicable conversion rate of the Convertible Notes on such trading day; • on a notice of redemption, in which case we may be required to increase the conversion rate for the Convertible Notes so surrendered for conversion in connection with such redemption notice; or • on the occurrence of specified corporate events. On or after May 1, 2026, the Convertible Notes are convertible at any time until the close of business on the second scheduled trading day immediately preceding the maturity date. Holders of the Convertible Notes who convert in connection with a make-whole fundamental change, as defined in the Indenture, or in connection with a redemption are entitled to an increase in the conversion rate. Additionally, in the event of a fundamental change, holders of the Convertible Notes may require us to repurchase all or a portion of the Convertible Notes at a price equal to 100% of the principal amount of Convertible Notes, plus any accrued and unpaid interest, including any additional interest. In accounting for the issuance of the Convertible Notes, we separated the Convertible Notes into liability and equity components. The carrying amount of the equity component was $381.5 million and was recorded as a debt discount, which is amortized to interest expense at an effective interest rate of 6.22%. We allocated $4.1 million of debt issuance costs to the equity component and the remaining debt issuance costs of $9.5 million were allocated to the liability component, which are amortized to interest expense under the effective interest rate method. The equity component of the Convertible Notes will not be remeasured as long as it continues to meet the conditions for equity classification. The Convertible As of March 31, 2020 As of December 31, 2019 (in thousands) Liability: Principal $ 1,265,000 $ 1,265,000 Unamortized debt discount and issuance costs (361,661 ) (373,224 ) Net carrying amount $ 903,339 $ 891,776 Carrying amount of the equity component $ 377,432 $ 377,432 As of March 31, 2020, the debt discount and debt issuance costs on the Convertible Notes will be amortized over the remaining period of approximately 6.3 years. The following table details interest expense recognized related to the Convertible Notes for the three months ended March 31, 2020: Amount (in thousands) Contractual interest expense $ 2,391 Amortization of debt issuance costs 281 Amortization of debt discount 11,282 Total $ 13,954 As of March 31, 2020, the if-converted value of the Convertible Notes did not exceed the principal amount. Capped Call Transactions In connection with the pricing of the Convertible Notes, we entered into separate Capped Call Transactions with certain counterparties at a net cost of $102.1 million. The cap price of the Capped Call Transactions is initially $32.58 per share of our Class A common stock, representing a premium of 100% above the last reported sale price of $16.29 per share of our Class A common stock on August 6, 2019, and is subject to certain adjustments under the terms of the Capped Call Transactions. Conditions that cause adjustments to the initial strike price of the Capped Call Transactions mirror conditions that result in corresponding adjustments for the Convertible Notes. The Capped Call Transactions are intended to reduce potential dilution to holders of our Class A common stock beyond the conversion price of $22.81, up to $32.58 on any conversion of the Convertible Notes or offset any cash payments we are required to make in excess of the principal amount of such converted Convertible Notes, as the case may be, with such reduction or offset subject to a cap. The cost of the Capped Call Transactions was recorded as a reduction of our additional paid-in capital in our consolidated balance sheets.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2020
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	8. Commitments and Contingencies Commitments We have non-cancelable contractual agreements related to the hosting of our data storage processing, storage, and other computing services. In January 2017, we entered into the Google Cloud Platform License Agreement. Under the agreement, we were granted a license to access and use certain cloud services. The agreement has an initial term of five years and we are required to purchase at least $400.0 million of cloud services in each year of the agreement. For each of the first four years, up to 15% of this amount may be moved to a subsequent year. If we fail to meet the minimum purchase commitment during any year, we are required to pay the difference. In March 2016, we entered into the AWS Enterprise Agreement for the use of cloud services from Amazon Web Services, Inc. (“AWS”). Under the agreement, we are committed to spend $1.1 billion between January 2017 and December 2022 on AWS services ($90.0 million in 2018, $150.0 million in 2019, $215.0 million in 2020, $280.0 million in 2021, and $349.0 million in 2022). If we fail to meet the minimum purchase commitment during any year, we are required to pay the difference. Any such payment may be applied to future use of AWS services during the term, although it will not count towards meeting the future minimum purchase commitments. The future minimum contractual commitment including commitments less than one year, as of March 31, 2020, for each of the next five years are as follows: Minimum Commitment (in thousands) Remainder of 2020 $ 488,340 2021 686,690 2022 384,756 2023 939 2024 912 Thereafter 216 Total minimum commitments $ 1,561,853 Contingencies We record a loss contingency when it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated. We also disclose material contingencies when we believe a loss is not probable but reasonably possible. Accounting for contingencies requires us to use judgment related to both the likelihood of a loss and the estimate of the amount or range of loss. Many legal and tax contingencies can take years to be resolved. Pending Matters Beginning in May 2017, we, certain of our officers and directors, and the underwriters for our IPO were named as defendants in securities class actions purportedly brought on behalf of purchasers of our Class A common stock, alleging violation of securities laws that arose following our IPO. On January 17, 2020, we reached a preliminary agreement to settle the securities class actions. The preliminary settlement agreement was signed in January 2020 and provided for a resolution of all of the pending claims in the securities class actions for $187.5 million. In the fourth quarter of 2019, we recorded legal expense, net of amounts directly covered by insurance, of $100.0 million for the expected settlement of the stockholder actions since we concluded the loss was probable and estimable. The amount was recorded in general and administrative expense in our consolidated statements of operations. On April 3, 2018, BlackBerry Limited filed a lawsuit against us alleging that we infringe six of its patents. This lawsuit was recently dismissed after four of the patents were ruled to be invalid; however, Blackberry Limited has since appealed the ruling to the U.S. Court of Appeals for the Federal Circuit. Management believes we have meritorious defenses to these claims. In 2017, Vaporstream, Inc. filed a lawsuit against us alleging that we infringe a number of its patents. In March 2020, we reached a preliminary agreement to settle the matter and in the first quarter of 2020 we recorded legal expense of $10.0 million related to the expected settlement since we concluded the loss was probable and estimable. The amount was recorded in general and administrative expense in our consolidated statements of operations. The outcomes of our legal proceedings are inherently unpredictable, subject to significant uncertainties, and could be material to our financial condition, results of operations, and cash flows for a particular period. For the pending matters described above, it is not possible to estimate the reasonably possible loss or range of loss. We are subject to various other legal proceedings and claims in the ordinary course of business, including certain patent, trademark, privacy, regulatory, and employment matters. Although occasional adverse decisions or settlements may occur, we do not believe that the final disposition of any of our other pending matters will seriously harm our business, financial condition, results of operations, and cash flows. Indemnifications In the ordinary course of business, we may provide indemnifications of varying scope and terms to customers, vendors, lessors, investors, directors, officers, employees, and other parties with respect to certain matters. Indemnification may include losses from our breach of such agreements, services we provide, or third party intellectual property infringement claims. These indemnifications may survive termination of the underlying agreement and the maximum potential amount of future indemnification payments may not be subject to a cap. We have not incurred material costs to defend lawsuits or settle claims related to these indemnifications as of March 31, 2020. We believe the fair value of these liabilities is immaterial and accordingly have no liabilities recorded for these agreements at March 31, 2020.

Leases

Leases	3 Months Ended
	Mar. 31, 2020
Leases [Abstract]
Leases	9. Leases We have various non-cancelable lease agreements for certain of our offices with original lease periods expiring between 2020 and 2032. Our lease terms may include options to extend or terminate the lease when it is reasonably certain we will exercise that option. Certain of the arrangements have free rent periods or escalating rent payment provisions. Leases with an initial term of twelve months or less are not recorded on the consolidated balance sheets. We recognize rent expense on a straight-line basis over the lease term. Additionally, we sublease certain operating leases to third parties primarily as a result of moving to a centralized corporate office in Santa Monica, California in 2018. Lease Cost The components of lease cost were as follows: Three Months Ended March 31, 2020 2019 (in thousands) Operating lease expense $ 14,405 $ 13,681 Sublease income (742 ) (925 ) Total net lease costs $ 13,663 $ 12,756 Lease Term and Discount Rate The weighted-average remaining lease term (in years) and discount rate related to the operating leases were as follows: Three Months Ended March 31, 2020 2019 Weighted-average remaining lease term 7.9 7.3 Weighted-average discount rate 5.6 % 6.2 % As most of our leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at the lease commencement date to determine the present value of lease payments. Maturity of Lease Liabilities The present value of our operating lease liabilities as of March 31, 2020 were as follows: Operating Leases (in thousands) Remainder of 2020 $ 41,834 2021 64,462 2022 56,445 2023 52,488 2024 52,136 Thereafter 143,799 Total lease payments $ 411,164 Less: Imputed interest (81,221 ) Present value of lease liabilities $ 329,943 As of March 31, 2020, we have additional operating leases for facilities that have not yet commenced with lease obligations of $13.8 million. These operating leases will commence between 2020 and 2021 with lease terms of greater than one years to five years. This table does not include lease payments that were not fixed at commencement or modification. Other Information Cash payments included in the measurement of our o perating lease liabilities were $21.1 million and $16.4 million for the three months ended March 31, 2020 and 2019, respectively Lease liabilities arising from obtaining operating lease right-of-use assets were not material for the three months ended March 31, 2020 and 2019.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements	10. Fair Value Measurements Assets and liabilities measured at fair value are classified into the following categories: • Level 1: Quoted market prices in active markets for identical assets or liabilities. • Level 2: Observable market-based inputs or unobservable inputs that are corroborated by market data. • Level 3: Unobservable inputs reflecting the reporting entity’s own assumptions or external inputs from inactive markets. We classify our cash equivalents and marketable securities within Level 1 or Level 2 because we use quoted market prices or alternative pricing sources and models utilizing market observable inputs to determine their fair value. There were no transfers between levels during the periods presented. The following tables set forth our financial assets as of March 31, 2020 and December 31, 2019 that are measured at fair value on a recurring basis during the period: March 31, 2020 Cost or Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Total Estimated Fair Value (in thousands) Cash $ 741,060 $ 40 $ — $ 741,100 Level 1 securities: U.S. government securities 914,418 4,357 — 918,775 U.S. government agency securities 235,438 215 (171 ) 235,482 Level 2 securities: Corporate debt securities 69,975 11 (173 ) 69,813 Commercial paper 109,033 — — 109,033 Certificates of deposit 7,672 — — 7,672 Total $ 2,077,596 $ 4,623 $ (344 ) $ 2,081,875 December 31, 2019 Cost or Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Total Estimated Fair Value (in thousands) Cash $ 416,099 $ — $ — $ 416,099 Level 1 securities: U.S. government securities 1,305,145 604 (49 ) 1,305,700 U.S. government agency securities 269,278 48 (32 ) 269,294 Level 2 securities: Corporate debt securities 28,420 13 (4 ) 28,429 Commercial paper 84,498 — — 84,498 Certificates of deposit 8,785 — — 8,785 Total $ 2,112,225 $ 665 $ (85 ) $ 2,112,805 Gross unrealized losses are not material as of March 31, 2020 and December 31, 2019, respectively. As of March 31, 2020, we considered any decreases in fair value on our marketable securities to be driven by factors other than credit risk, including market risk. All of our marketable securities have contractual maturities of less than one year. W e carry the Convertible Notes at face value less the unamortized discount and issuance costs on our consolidated balance sheets and present that fair value for disclosure purposes only. As of March 31, 2020, the fair value of the Convertible Notes was $1.1 billion. The estimated fair value of the Convertible Notes, which are classified as Level 2 financial instruments, was determined based on the estimated or actual bid prices of the Convertible Notes in an over-the-counter market on the last business day of the period.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2020
Income Tax Disclosure [Abstract]
Income Taxes	11. Income Taxes Our tax provision for interim periods is determined using an estimate of our annual effective tax rate, adjusted for discrete items arising in that quarter. Our effective tax rate differs from the U.S. statutory tax rate primarily due to valuation allowances on our deferred tax assets as it is more likely than not that some or all of our deferred tax assets will not be realized. Income tax expense was $0.7 million and $0.3 million for the three months ended March 31, 2020 and 2019, respectively. In June 2019, the United States Court of Appeals for the Ninth Circuit overturned the 2015 U.S. Tax Court decision in Altera Corp. v. Commissioner, upholding the portion of the Treasury regulations issued under Section 482 of the U.S. Internal Revenue Code of 1986, as amended (“the Code”) requiring related-party participants in a cost sharing arrangement to share stock-based compensation costs. In February 2020, the taxpayer petitioned the U.S. Supreme Court to review the Ninth Circuit’s decision and is awaiting the Supreme Court’s decision as to whether it will hear the case. A decision by the Supreme Court not to hear the case, or a decision to uphold the Ninth Circuit’s decision, could result in a significant reduction to our deferred tax assets. As a result of the valuation allowance against our deferred tax assets, we do not believe the final resolution will result in a material impact to income tax expense, net deferred taxes, net unrecognized tax benefits, or consolidated financial statements.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	3 Months Ended
	Mar. 31, 2020
Accumulated Other Comprehensive Income Loss [Abstract]
Accumulated Other Comprehensive Income (Loss)	12. Accumulated Other Comprehensive Income (Loss) The table below presents the changes in accumulated other comprehensive income (loss) (“AOCI”) by component and the reclassifications out of AOCI: Changes in Accumulated Other Comprehensive Income (Loss) by Component Marketable Securities Foreign Currency Translation Total (in thousands) Balance at December 31, 2019 $ 429 $ 144 $ 573 OCI before reclassifications 4,302 (7,163 ) (2,861 ) Amounts reclassified from AOCI (1) (608 ) — (608 ) Net current period OCI 3,694 (7,163 ) (3,469 ) Balance at March 31, 2020 $ 4,123 $ (7,019 ) $ (2,896 ) (1 ) Realized gains and losses on marketable securities are reclassified from AOCI into other income (expense), net in the consolidated statements of operations.

Property and Equipment, Net

Property and Equipment, Net	3 Months Ended
	Mar. 31, 2020
Property Plant And Equipment [Abstract]
Property and Equipment, Net	13. Property and Equipment, Net The following table lists property and equipment, net by geographic area: As of March 31, 2020 As of December 31, 2019 (in thousands) Property and equipment, net: United States $ 152,024 $ 153,771 Rest of world (1) 21,727 19,896 Total property and equipment, net $ 173,751 $ 173,667 (1) No

Description of Business and S_2

Description of Business and Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited consolidated financial statements are prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information. Our consolidated financial statements include the accounts of Snap Inc. and our wholly owned subsidiaries. All intercompany transactions and balances have been eliminated in consolidation. Our fiscal year ends on December 31. These unaudited interim consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2019, as filed with the SEC on February 4, 2020 (the “Annual Report”). In our opinion, the unaudited interim consolidated financial statements include all adjustments of a normal recurring nature necessary for the fair presentation of our financial position, results of operations, and cash flows. The results of operations for the three months ended March 31, 2020 are not necessarily indicative of the results to be expected for the year ending December 31, 2020. Other than described below, there have been no changes to our significant accounting policies described in our Annual Report that have had a material impact on our consolidated financial statements and related notes.
Use of Estimates	Use of Estimates The preparation of our consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts in the consolidated financial statements. Management’s estimates are based on historical information available as of the date of the consolidated financial statements and various other assumptions that we believe are reasonable under the circumstances. Actual results could differ from those estimates. Key estimates relate primarily to determining the fair value of assets and liabilities assumed in business combinations, evaluation of contingencies, uncertain tax positions, excess inventory reserves, lease exit charges, forfeiture rate, the fair value of convertible senior notes, and the fair value of stock-based awards. On an ongoing basis, management evaluates our estimates compared to historical experience and trends, which form the basis for making judgments about the carrying value of assets and liabilities.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In August 2018, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2018-15, Intangibles — Goodwill and Other — Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract. ASU 2018-15 aligns the requirements for capitalizing implementation costs in a cloud computing arrangement service contract with the requirements for capitalizing implementation costs incurred for an internal-use software license. The guidance is effective for interim and annual periods beginning after December 15, 2019, with early adoption permitted. We adopted ASU 2018-15 effective January 1, 2020. The impact of adoption of these standards on our consolidated financial statements, including accounting policies, processes, and systems, was not material. In June 2016, the FASB issued ASU 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. ASU 2016-13 replaced the incurred loss impairment methodology under current GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. ASU 2016-13 requires use of a forward-looking expected credit loss model for accounts receivables, loans, and other financial instruments. ASU 2016-13 is effective for fiscal years beginning after December 15, 2019, with early adoption permitted. Adoption of the standard requires using a modified retrospective approach through a cumulative-effect adjustment to retained earnings as of the effective date to align existing credit loss methodology with the new standard . In November 2019, the FASB issued ASU 2019-11, Codification Improvements to Topic 326, Financial Instruments—Credit Losses. ASU 2019-11 requires entities that did not adopt the amendments in ASU 2016-13 as of November 2019 to adopt ASU 2019-11. This ASU contains the same effective dates and transition requirements as ASU 2016-13. We adopted ASU 2016-13 and ASU 2019-11 effective January 1, 2020. The impact of adoption of these standards on our consolidated financial statements, including accounting policies, processes, and systems, wa s not material.

Revenue (Tables)

Revenue (Tables)	3 Months Ended
	Mar. 31, 2020
Revenue From Contract With Customer [Abstract]
Disaggregation of Revenue by Geography	The following table represents our revenue disaggregated by geography based on the billing address of the advertising customer: Three Months Ended March 31, 2020 2019 (in thousands) Revenue: North America (1) (2) $ 281,274 $ 195,958 Europe (3) 81,077 56,581 Rest of world 100,127 67,887 Total revenue $ 462,478 $ 320,426 (1) North America includes Mexico, the Caribbean, and Central America. (2) United States revenue was $273.2 million and $188.8 million for the three months ended March 31, 2020 and 2019, respectively. (3) Europe includes Russia and Turkey.

Net Loss per Share (Tables)

Net Loss per Share (Tables)	3 Months Ended
	Mar. 31, 2020
Earnings Per Share [Abstract]
Numerators and Denominators of Basic and Diluted Net Loss per Share Computations for Common Stock	The numerators and denominators of the basic and diluted net loss per share computations for our common stock are calculated as follows for the three months ended March 31, 2020 and 2019: Three Months Ended March 31, 2020 2019 (in thousands, except per share data) Class A Common Class B Common Class C Common Class A Common Class B Common Class C Common Numerator: Net loss $ (249,240 ) $ (5,223 ) $ (51,473 ) $ (239,860 ) $ (13,601 ) $ (56,946 ) Net loss attributable to common stockholders $ (249,240 ) $ (5,223 ) $ (51,473 ) $ (239,860 ) $ (13,601 ) $ (56,946 ) Denominator: Basic shares: Weighted-average common shares - Basic 1,161,982 24,352 239,971 1,035,932 58,741 245,942 Diluted shares: Weighted-average common shares - Diluted 1,161,982 24,352 239,971 1,035,932 58,741 245,942 Net loss per share attributable to common stockholders: Basic $ (0.21 ) $ (0.21 ) $ (0.21 ) $ (0.23 ) $ (0.23 ) $ (0.23 ) Diluted $ (0.21 ) $ (0.21 ) $ (0.21 ) $ (0.23 ) $ (0.23 ) $ (0.23 )
Schedule of Potentially Dilutive Shares Excluded from Calculation of Diluted Net Loss per Share	The following potentially dilutive shares were excluded from the calculation of diluted net loss per share because their effect would have been anti-dilutive for the periods presented: Three Months Ended March 31, 2020 2019 (in thousands) Stock options 9,793 13,382 Unvested RSUs and RSAs 143,511 181,321 Convertible Notes (if-converted) 55,468 —

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2020
Summary of Stock Option Award Activity	The following table summarizes the stock option award activity under the Stock Plans during the three months ended March 31, 2020: Class A Number of Shares Class B Number of Shares Weighted- Average Exercise Price Weighted- Average Remaining Contractual Term (in years) Aggregate Intrinsic Value (1) (in thousands, except per share data) Outstanding at December 31, 2019 8,712 1,550 $ 9.00 5.59 $ 75,460 Granted — — $ — — $ — Exercised (396 ) (2 ) $ 7.86 — $ — Forfeited (71 ) — $ 12.79 — $ — Outstanding at March 31, 2020 8,245 1,548 $ 9.02 5.26 $ 41,095 (1) The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying stock option awards and the closing market price of our Class A common stock as of December 31, 2019 and March 31, 2020, respectively.
Summary of Total Stock-based Compensation Expense	Total stock-based compensation expense by function was as follows: Three Months Ended March 31, 2020 2019 (in thousands) Cost of revenue $ 1,782 $ 1,849 Research and development 118,317 112,242 Sales and marketing 24,806 17,760 General and administrative 27,144 30,705 Total $ 172,049 $ 162,556
Restricted Stock Units and Restricted Stock Awards
Summary of RSU and RSA Activity	Restricted Stock Units and Restricted Stock Awards The following table summarizes the RSU and RSA activity during the three months ended March 31, 2020: Class A Outstanding Weighted- Average Grant Date Fair Value (in thousands, except per share data) Unvested at December 31, 2019 148,797 $ 12.39 Granted 14,903 $ 16.58 Vested (17,915 ) $ 13.43 Forfeited (2,274 ) $ 13.59 Unvested at March 31, 2020 143,511 $ 12.68

Business Acquisitions and Div_2

Business Acquisitions and Divestitures (Tables)	3 Months Ended
	Mar. 31, 2020
Placed, LLC
Business Acquisition [Line Items]
Summary of Assets and Liabilities on Completion of Divestiture	Placed assets and liabilities on completion of the divestiture were as follows: Total (in thousands) Trademarks, net $ 1,052 Technology, net 14,193 Customer relationships, net 5,246 Goodwill 2,682 Other assets and liabilities, net 3,827 Total $ 27,000
AI Factory, Inc.
Business Acquisition [Line Items]
Summary of Total Purchase Consideration Allocation	The allocation of acquisition date fair value is as follows: Total (in thousands) Technology $ 16,000 Goodwill 110,734 Other assets acquired and liabilities assumed, net 1,353 Total $ 128,087

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2020
Goodwill And Intangible Assets Disclosure [Abstract]
Changes in Carrying Amount of Goodwill	The changes in the carrying amount of goodwill for the three months ended March 31, 2020 were as follows: Goodwill (in thousands) Balance as of December 31, 2019 $ 761,153 Foreign currency translation (4,764 ) Balance as of March 31, 2020 $ 756,389
Schedule of Intangible Assets	Intangible assets consisted of the following: March 31, 2020 Weighted- Average Remaining Useful Life - Years Gross Carrying Amount Accumulated Amortization Net (in thousands, except years) Domain names 2.4 $ 414 $ 220 $ 194 Acquired developed technology 3.4 157,400 85,579 71,821 Patents 5.7 19,360 7,475 11,885 $ 177,174 $ 93,274 $ 83,900 December 31, 2019 Weighted- Average Remaining Useful Life - Years Gross Carrying Amount Accumulated Amortization Net (in thousands except years) Domain names 2.6 $ 5,414 $ 5,200 $ 214 Trademarks — 3,072 3,072 — Acquired developed technology 3.6 175,414 95,921 79,493 Customer relationships — 2,172 2,172 — Patents 5.9 19,710 7,296 12,414 $ 205,782 $ 113,661 $ 92,121
Schedule of Estimated Intangible Asset Amortization Expense	As of March 31, 2020, the estimated intangible asset amortization expense for the next five years and thereafter is as follows: Estimated Amortization (in thousands) Remainder of 2020 $ 21,096 2021 23,441 2022 16,837 2023 14,396 2024 6,236 Thereafter 1,894 Total $ 83,900

Convertible Notes (Tables)

Convertible Notes (Tables)	3 Months Ended
	Mar. 31, 2020
Debt Disclosure [Abstract]
Summary of Convertible Notes	The Convertible As of March 31, 2020 As of December 31, 2019 (in thousands) Liability: Principal $ 1,265,000 $ 1,265,000 Unamortized debt discount and issuance costs (361,661 ) (373,224 ) Net carrying amount $ 903,339 $ 891,776 Carrying amount of the equity component $ 377,432 $ 377,432
Schedule of Interest Expense Recognized Related to Convertible Notes	The following table details interest expense recognized related to the Convertible Notes for the three months ended March 31, 2020: Amount (in thousands) Contractual interest expense $ 2,391 Amortization of debt issuance costs 281 Amortization of debt discount 11,282 Total $ 13,954

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2020
Commitments And Contingencies Disclosure [Abstract]
Schedule of Future Minimum Contractual Commitments	The future minimum contractual commitment including commitments less than one year, as of March 31, 2020, for each of the next five years are as follows: Minimum Commitment (in thousands) Remainder of 2020 $ 488,340 2021 686,690 2022 384,756 2023 939 2024 912 Thereafter 216 Total minimum commitments $ 1,561,853

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2020
Leases [Abstract]
Components of Lease Cost	The components of lease cost were as follows: Three Months Ended March 31, 2020 2019 (in thousands) Operating lease expense $ 14,405 $ 13,681 Sublease income (742 ) (925 ) Total net lease costs $ 13,663 $ 12,756
Summary of Weighted Average Remaining Lease Term and Discount Rate Related to Operating Leases	Lease Term and Discount Rate The weighted-average remaining lease term (in years) and discount rate related to the operating leases were as follows: Three Months Ended March 31, 2020 2019 Weighted-average remaining lease term 7.9 7.3 Weighted-average discount rate 5.6 % 6.2 %
Present Value of Operating Lease Liabilities	Maturity of Lease Liabilities The present value of our operating lease liabilities as of March 31, 2020 were as follows: Operating Leases (in thousands) Remainder of 2020 $ 41,834 2021 64,462 2022 56,445 2023 52,488 2024 52,136 Thereafter 143,799 Total lease payments $ 411,164 Less: Imputed interest (81,221 ) Present value of lease liabilities $ 329,943

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2020
Fair Value Disclosures [Abstract]
Summary of Financial Assets Measured at Fair Value on Recurring Basis	The following tables set forth our financial assets as of March 31, 2020 and December 31, 2019 that are measured at fair value on a recurring basis during the period: March 31, 2020 Cost or Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Total Estimated Fair Value (in thousands) Cash $ 741,060 $ 40 $ — $ 741,100 Level 1 securities: U.S. government securities 914,418 4,357 — 918,775 U.S. government agency securities 235,438 215 (171 ) 235,482 Level 2 securities: Corporate debt securities 69,975 11 (173 ) 69,813 Commercial paper 109,033 — — 109,033 Certificates of deposit 7,672 — — 7,672 Total $ 2,077,596 $ 4,623 $ (344 ) $ 2,081,875 December 31, 2019 Cost or Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Total Estimated Fair Value (in thousands) Cash $ 416,099 $ — $ — $ 416,099 Level 1 securities: U.S. government securities 1,305,145 604 (49 ) 1,305,700 U.S. government agency securities 269,278 48 (32 ) 269,294 Level 2 securities: Corporate debt securities 28,420 13 (4 ) 28,429 Commercial paper 84,498 — — 84,498 Certificates of deposit 8,785 — — 8,785 Total $ 2,112,225 $ 665 $ (85 ) $ 2,112,805

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	3 Months Ended
	Mar. 31, 2020
Accumulated Other Comprehensive Income Loss [Abstract]
Schedule of Changes in Accumulated Other Comprehensive Income (Loss)	The table below presents the changes in accumulated other comprehensive income (loss) (“AOCI”) by component and the reclassifications out of AOCI: Changes in Accumulated Other Comprehensive Income (Loss) by Component Marketable Securities Foreign Currency Translation Total (in thousands) Balance at December 31, 2019 $ 429 $ 144 $ 573 OCI before reclassifications 4,302 (7,163 ) (2,861 ) Amounts reclassified from AOCI (1) (608 ) — (608 ) Net current period OCI 3,694 (7,163 ) (3,469 ) Balance at March 31, 2020 $ 4,123 $ (7,019 ) $ (2,896 ) (1 ) Realized gains and losses on marketable securities are reclassified from AOCI into other income (expense), net in the consolidated statements of operations.

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	3 Months Ended
	Mar. 31, 2020
Property Plant And Equipment [Abstract]
Property and Equipment, Net by Geographic Area	The following table lists property and equipment, net by geographic area: As of March 31, 2020 As of December 31, 2019 (in thousands) Property and equipment, net: United States $ 152,024 $ 153,771 Rest of world (1) 21,727 19,896 Total property and equipment, net $ 173,751 $ 173,667 (1) No

Revenue - Disaggregation of Rev

Revenue - Disaggregation of Revenue by Geography (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Disaggregation Of Revenue [Line Items]
Total revenue	$ 462,478	$ 320,426
North America
Disaggregation Of Revenue [Line Items]
Total revenue	281,274	195,958
Europe
Disaggregation Of Revenue [Line Items]
Total revenue	81,077	56,581
Rest of World
Disaggregation Of Revenue [Line Items]
Total revenue	$ 100,127	$ 67,887

Revenue - Disaggregation of R_2

Revenue - Disaggregation of Revenue by Geography (Parenthetical) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Disaggregation Of Revenue [Line Items]
Total revenue	$ 462,478	$ 320,426
United States
Disaggregation Of Revenue [Line Items]
Total revenue	$ 273,200	$ 188,800

Net Loss per Share - Numerators

Net Loss per Share - Numerators and Denominators of Basic and Diluted Net Loss per Share Computations for Common Stock (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Numerator:
Net loss	$ (305,936)	$ (310,407)
Basic shares:
Weighted-average common shares - Basic	1,426,305	1,340,615
Diluted shares:
Weighted-average common shares - Diluted	1,426,305	1,340,615
Net loss per share attributable to common stockholders:
Basic	$ (0.21)	$ (0.23)
Diluted	$ (0.21)	$ (0.23)
Class A Common Stock
Numerator:
Net loss	$ (249,240)	$ (239,860)
Net loss attributable to common stockholders	$ (249,240)	$ (239,860)
Basic shares:
Weighted-average common shares - Basic	1,161,982	1,035,932
Diluted shares:
Weighted-average common shares - Diluted	1,161,982	1,035,932
Net loss per share attributable to common stockholders:
Basic	$ (0.21)	$ (0.23)
Diluted	$ (0.21)	$ (0.23)
Class B Common Stock
Numerator:
Net loss	$ (5,223)	$ (13,601)
Net loss attributable to common stockholders	$ (5,223)	$ (13,601)
Basic shares:
Weighted-average common shares - Basic	24,352	58,741
Diluted shares:
Weighted-average common shares - Diluted	24,352	58,741
Net loss per share attributable to common stockholders:
Basic	$ (0.21)	$ (0.23)
Diluted	$ (0.21)	$ (0.23)
Class C Common Stock
Numerator:
Net loss	$ (51,473)	$ (56,946)
Net loss attributable to common stockholders	$ (51,473)	$ (56,946)
Basic shares:
Weighted-average common shares - Basic	239,971	245,942
Diluted shares:
Weighted-average common shares - Diluted	239,971	245,942
Net loss per share attributable to common stockholders:
Basic	$ (0.21)	$ (0.23)
Diluted	$ (0.21)	$ (0.23)

Net Loss per Share - Schedule o

Net Loss per Share - Schedule of Potentially Dilutive Shares Excluded from Calculation of Diluted Net Loss per Share (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Stock Options
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from calculation of diluted net loss per share	9,793	13,382
Unvested Restricted Stock Units And Restricted Stock Awards Not Subject To A Performance Condition
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from calculation of diluted net loss per share	143,511	181,321
Convertible Notes (If Converted)
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from calculation of diluted net loss per share	55,468

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Details) shares in Millions, $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2020USD ($)Planshares	Dec. 31, 2019shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of share-based employee compensation plans | Plan	3
Pre-2017 Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized compensation cost	$ 17
Weighted average recognition period	7 months 6 days
Post-2017 Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized compensation cost	$ 1,500
Weighted average recognition period	2 years 9 months 18 days
Service condition satisfied, years	4 years
Post-2017 Awards | First Year
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award vesting percentage	10.00%
Post-2017 Awards | Second Year
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award vesting percentage	20.00%
Post-2017 Awards | Third Year
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award vesting percentage	30.00%
Post-2017 Awards | Fourth Year
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award vesting percentage	40.00%
RSUs
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
RSUs vested but not yet settled | shares	7.6	9.4
Stock Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted average recognition period	2 years
Unrecognized compensation cost	$ 13.2

Stockholders' Equity - Summary

Stockholders' Equity - Summary of RSU and RSA Activity (Details) - Restricted Stock Units and Restricted Stock Awards shares in Thousands	3 Months Ended
	Mar. 31, 2020$ / sharesshares
Weighted-Average Grant Date Fair Value per Restricted Stock
Weighted-Average Grant Date Fair Value per Restricted Stock, Unvested Beginning Balance | $ / shares	$ 12.39
Weighted-Average Grant Date Fair Value per Restricted Stock, Granted | $ / shares	16.58
Weighted-Average Grant Date Fair Value per Restricted Stock, Vested | $ / shares	13.43
Weighted-Average Grant Date Fair Value per Restricted Stock, Forfeited | $ / shares	13.59
Weighted-Average Grant Date Fair Value per Restricted Stock, Unvested Ending Balance | $ / shares	$ 12.68
Class A Common Stock
Outstanding Restricted Stock
Outstanding Restricted Stock, Unvested Beginning Balance | shares	148,797
Outstanding Restricted Stock, Granted | shares	14,903
Outstanding Restricted Stock, Vested | shares	(17,915)
Outstanding Restricted Stock, Forfeited | shares	(2,274)
Outstanding Restricted Stock, Unvested Ending Balance | shares	143,511

Stockholders' Equity - Summar_2

Stockholders' Equity - Summary of Stock Option Award Activity (Details) - Stock Options - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Weighted-Average Exercise Price
Weighted-Average Exercise Price, Beginning balance	$ 9
Weighted-Average Exercise Price, Exercised	7.86
Weighted-Average Exercise Price, Forfeited	12.79
Weighted-Average Exercise Price, Ending balance	$ 9.02	$ 9
Weighted-Average Remaining Contractual Term
Weighted-Average Remaining Contractual Term (in years)	5 years 3 months 3 days	5 years 7 months 2 days
Aggregate Intrinsic Value
Aggregate Intrinsic Value, Outstanding	$ 75,460
Aggregate Intrinsic Value, Outstanding	$ 41,095	$ 75,460
Class A Common Stock
Number of Shares
Number of Shares, Beginning balance	8,712
Number of Shares, Exercised	(396)
Number of Shares, Forfeited	(71)
Number of Shares, Ending balance	8,245	8,712
Class B Common Stock
Number of Shares
Number of Shares, Beginning balance	1,550
Number of Shares, Exercised	(2)
Number of Shares, Ending balance	1,548	1,550

Stockholders' Equity - Summar_3

Stockholders' Equity - Summary of Total Stock-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total	$ 172,049	$ 162,556
Cost of Revenue
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total	1,782	1,849
Research and Development
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total	118,317	112,242
Sales and Marketing
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total	24,806	17,760
General and Administrative
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total	$ 27,144	$ 30,705

Business Acquisitions and Div_3

Business Acquisitions and Divestitures - Additional Information (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended
	Jun. 30, 2019	Dec. 31, 2019
Placed, LLC
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Disposal group including discontinued operation, cash consideration	$ 77.8
Disposal group including discontinued operation, purchase consideration	66.9
Placed, LLC | Other Income (Expense)
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Disposal group including discontinued operation, net gain on disposal	$ 39.9
AI Factory, Inc.
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Current and future cash consideration payments		$ 128.1
Fair value of minority interest		13.5
Other Acquisitions
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Total purchase consideration		34
Goodwill deductible for tax purposes		$ 23.5

Business Acquisitions and Div_4

Business Acquisitions and Divestitures - Summary of Allocation of Acquisition Date Fair Value (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Business Acquisition [Line Items]
Goodwill	$ 756,389	$ 761,153
AI Factory, Inc.
Business Acquisition [Line Items]
Goodwill		110,734
Other assets acquired and liabilities assumed, net		1,353
Total		128,087
AI Factory, Inc. | Acquired Developed Technology
Business Acquisition [Line Items]
Finite lived intangible assets		$ 16,000

Business Acquisitions and Div_5

Business Acquisitions and Divestitures - Summary of Assets and Liabilities on Completion of Divestiture (Details) - Placed, LLC $ in Thousands	Mar. 31, 2020USD ($)
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Goodwill	$ 2,682
Other assets and liabilities, net	3,827
Total	27,000
Trademarks, Net
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Intangible assets	1,052
Technology, Net
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Intangible assets	14,193
Customer Relationships, Net
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Intangible assets	$ 5,246

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Changes in Carrying Amount of Goodwill (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill, beginning balance	$ 761,153
Foreign currency translation	(4,764)
Goodwill, ending balance	$ 756,389

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 177,174	$ 205,782
Accumulated Amortization	93,274	113,661
Net	$ 83,900	$ 92,121
Domain Names
Finite-Lived Intangible Assets [Line Items]
Weighted-Average Remaining Useful Life - Years	2 years 4 months 24 days	2 years 7 months 6 days
Gross Carrying Amount	$ 414	$ 5,414
Accumulated Amortization	220	5,200
Net	$ 194	$ 214
Trademarks
Finite-Lived Intangible Assets [Line Items]
Weighted-Average Remaining Useful Life - Years		0 years
Gross Carrying Amount		$ 3,072
Accumulated Amortization		$ 3,072
Acquired Developed Technology
Finite-Lived Intangible Assets [Line Items]
Weighted-Average Remaining Useful Life - Years	3 years 4 months 24 days	3 years 7 months 6 days
Gross Carrying Amount	$ 157,400	$ 175,414
Accumulated Amortization	85,579	95,921
Net	$ 71,821	$ 79,493
Customer Relationships
Finite-Lived Intangible Assets [Line Items]
Weighted-Average Remaining Useful Life - Years		0 years
Gross Carrying Amount		$ 2,172
Accumulated Amortization		$ 2,172
Patents
Finite-Lived Intangible Assets [Line Items]
Weighted-Average Remaining Useful Life - Years	5 years 8 months 12 days	5 years 10 months 24 days
Gross Carrying Amount	$ 19,360	$ 19,710
Accumulated Amortization	7,475	7,296
Net	$ 11,885	$ 12,414

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Goodwill And Intangible Assets Disclosure [Abstract]
Amortization of intangible assets	$ 8	$ 10.4

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets - Schedule of Estimated Intangible Asset Amortization Expense (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Finite Lived Intangible Assets Future Amortization Expense Current And Five Succeeding Fiscal Years [Abstract]
Remainder of 2020	$ 21,096
2021	23,441
2022	16,837
2023	14,396
2024	6,236
Thereafter	1,894
Net	$ 83,900	$ 92,121

Convertible Notes - Additional

Convertible Notes - Additional Information (Details) - Convertible Senior Notes	1 Months Ended	3 Months Ended
	Aug. 31, 2019USD ($)d$ / sharesshares	Mar. 31, 2020USD ($)$ / shares	Dec. 31, 2019USD ($)	Aug. 06, 2019$ / shares
Debt Instrument [Line Items]
Debt instrument, principal amount	$ 1,265,000,000	$ 1,265,000,000	$ 1,265,000,000
Indenture date	Aug. 9, 2019
Proceeds from issuance of convertible notes, net of issuance costs	$ 1,150,000,000
Interest payment beginning date	Feb. 1, 2020
Debt instrument, interest rate	0.75%
Debt instrument, interest rate terms		Interest is payable in cash semi-annually in arrears beginning on February 1, 2020 at a rate of 0.75% per year.
Debt instrument, maturity date	Aug. 1, 2026
Debt instrument, redemption price percentage	100.00%
Carrying amount of equity component	$ 381,500,000	$ 377,432,000	$ 377,432,000
Effective interest rate	6.22%
Debt issuance costs allocated to equity component	$ 4,100,000
Debt issuance costs allocated to liability component	$ 9,500,000
Debt instrument convertible, amortization period		6 years 3 months 18 days
Cap price, net cost		$ 102,100,000
Class A Non-voting Common Stock
Debt Instrument [Line Items]
Shares issued upon conversion of each $1000 principal amount | shares	43.8481
Debt instrument, convertible principal amount used in conversion rate	$ 1,000
Conversion price per share | $ / shares	$ 22.81
Debt instrument convertible, percentage of conversion price	130.00%
Debt instrument convertible, number of trading days | d	20
Debt instrument, redemption price percentage	100.00%
Cap price, per share | $ / shares		$ 32.58
Cap price per share, premium percentage above last reported sale price		100.00%
Last reported sale price, per share | $ / shares				$ 16.29
Class A Non-voting Common Stock | Maximum
Debt Instrument [Line Items]
Conversion price per share | $ / shares		$ 32.58
Class A Non-voting Common Stock | Minimum
Debt Instrument [Line Items]
Conversion price per share | $ / shares		$ 22.81
Class A Non-voting Common Stock | Scenario One
Debt Instrument [Line Items]
Debt instrument convertible, percentage of conversion price	130.00%
Debt instrument convertible, number of trading days | d	20
Debt instrument convertible, number of consecutive trading days | d	30
Class A Non-voting Common Stock | Scenario Two
Debt Instrument [Line Items]
Debt instrument, convertible principal amount used in conversion rate	$ 1,000
Debt instrument convertible, number of consecutive trading days | d	10
Debt instrument, convertible, threshold business days	5 days
Class A Non-voting Common Stock | Scenario Two | Maximum
Debt Instrument [Line Items]
Debt instrument convertible, percentage of conversion price	98.00%
Initial Placement
Debt Instrument [Line Items]
Debt instrument, principal amount	$ 1,100,000,000
Over-Allotment Option
Debt Instrument [Line Items]
Debt instrument, principal amount	$ 165,000,000

Convertible Notes - Summary of

Convertible Notes - Summary of Convertible Notes (Details) - Convertible Senior Notes - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019	Aug. 31, 2019
Debt Instrument [Line Items]
Principal	$ 1,265,000	$ 1,265,000	$ 1,265,000
Unamortized debt discount and issuance costs	(361,661)	(373,224)
Net carrying amount	903,339	891,776
Carrying amount of the equity component	$ 377,432	$ 377,432	$ 381,500

Convertible Notes - Schedule of

Convertible Notes - Schedule of Interest Expense Recognized Related to Convertible Notes (Details) - Convertible Senior Notes $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)
Debt Instrument [Line Items]
Contractual interest expense	$ 2,391
Amortization of debt issuance costs	281
Amortization of debt discount	11,282
Total	$ 13,954

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) - USD ($)	1 Months Ended	3 Months Ended
	Jan. 31, 2017	Mar. 31, 2020	Dec. 31, 2019	Jan. 17, 2020	Oct. 31, 2018
Indemnification Agreement
Loss Contingencies [Line Items]
Liabilities recorded		$ 0
Vaporstream, Inc. | General and Administrative
Loss Contingencies [Line Items]
Legal expense, net of amounts directly covered by insurance		$ 10,000,000
Securities Class Actions
Loss Contingencies [Line Items]
Legal expense, net of amounts directly covered by insurance			$ 100,000,000
Securities Class Actions | Pending Litigation
Loss Contingencies [Line Items]
Loss contingency, expected settlement amount				$ 187,500,000
Google Cloud Platform License Agreement
Loss Contingencies [Line Items]
Purchase commitment, description		The agreement has an initial term of five years and we are required to purchase at least $400.0 million of cloud services in each year of the agreement. For each of the first four years, up to 15% of this amount may be moved to a subsequent year. If we fail to meet the minimum purchase commitment during any year, we are required to pay the difference.
Initial term of agreement	5 years
Minimum amount of services to be purchased in each year	$ 400,000,000
Initial period required to purchase minimum amount of services	4 years
Google Cloud Platform License Agreement | Maximum
Loss Contingencies [Line Items]
Purchase commitment, percentage of minimum purchase requirement that can be moved to subsequent year	15.00%
AWS Enterprise Agreement, Cloud Services
Loss Contingencies [Line Items]
Purchase commitment, description		In March 2016, we entered into the AWS Enterprise Agreement for the use of cloud services from Amazon Web Services, Inc. (“AWS”). Under the agreement, we are committed to spend $1.1 billion between January 2017 and December 2022 on AWS services ($90.0 million in 2018, $150.0 million in 2019, $215.0 million in 2020, $280.0 million in 2021, and $349.0 million in 2022). If we fail to meet the minimum purchase commitment during any year, we are required to pay the difference. Any such payment may be applied to future use of AWS services during the term, although it will not count towards meeting the future minimum purchase commitments.
Minimum purchase commitment to spend between January 2017 and December 2022					$ 1,100,000,000
Minimum purchase commitment, due in 2018					90,000,000
Minimum purchase commitment, due in 2019					150,000,000
Minimum purchase commitment, due in 2020					215,000,000
Minimum purchase commitment, due in 2021					280,000,000
Minimum purchase commitment, due in 2022					$ 349,000,000

Commitments and Contingencies_2

Commitments and Contingencies - Schedule of Future Minimum Contractual Commitments (Details) $ in Thousands	Mar. 31, 2020USD ($)
Commitments And Contingencies Disclosure [Abstract]
Remainder of 2020	$ 488,340
2021	686,690
2022	384,756
2023	939
2024	912
Thereafter	216
Total minimum commitments	$ 1,561,853

Leases - Components of Lease Co

Leases - Components of Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Leases [Abstract]
Operating lease expense	$ 14,405	$ 13,681
Sublease income	(742)	(925)
Total net lease costs	$ 13,663	$ 12,756

Leases - Summary of Weighted Av

Leases - Summary of Weighted Average Remaining Lease Term and Discount Rate Related to Operating Leases (Details)	Mar. 31, 2020	Mar. 31, 2019
Leases [Abstract]
Weighted-average remaining lease term	7 years 10 months 24 days	7 years 3 months 18 days
Weighted-average discount rate	5.60%	6.20%

Leases - Present Value of Opera

Leases - Present Value of Operating Lease Liabilities (Details) $ in Thousands	Mar. 31, 2020USD ($)
Leases [Abstract]
Remainder of 2020	$ 41,834
2021	64,462
2022	56,445
2023	52,488
2024	52,136
Thereafter	143,799
Total lease payments	411,164
Less: Imputed interest	(81,221)
Present value of lease liabilities	$ 329,943

Leases - Additional Information

Leases - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Lessee Lease Description [Line Items]
Lease obligations for additional leases not yet commenced	$ 13.8
Operating leases not yet commenced, start year	2020
Operating leases not yet commenced, end year	2021
Operating lease liabilities	$ 21.1	$ 16.4
Minimum
Lessee Lease Description [Line Items]
Operating leases, terms	1 year
Maximum
Lessee Lease Description [Line Items]
Operating leases, terms	5 years

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) $ in Thousands	Mar. 31, 2020USD ($)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fair value assets transferred from level 1 to level 2	$ 0
Fair value assets transferred from level 2 to level 1	0
Fair value liabilities transferred from level 1 to level 2	0
Fair value liabilities transferred from level 2 to level 1	0
Level 2 Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Convertible notes	$ 1,100,000

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Financial Assets Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash, Cost or Amortized Cost	$ 901,342	$ 520,317
Fair Value, Measurements, Recurring
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash and Marketable securities, Cost or Amortized Cost	2,077,596	2,112,225
Cash and Marketable securities, Gross Unrealized Gains	4,623	665
Cash and Marketable securities, Gross Unrealized Losses	(344)	(85)
Cash and Marketable Securities, Total Estimated Fair Value	2,081,875	2,112,805
Fair Value, Measurements, Recurring | Cash
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash, Cost or Amortized Cost	741,060	416,099
Cash, Gross Unrealized Gains	40
Cash, Total Estimated Fair Value	741,100	416,099
Fair Value, Measurements, Recurring | Level 1 Securities | U.S. Government Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Marketable securities, Cost or Amortized Cost	914,418	1,305,145
Marketable securities, Gross Unrealized Gains	4,357	604
Marketable securities, Gross Unrealized Losses		(49)
Marketable securities, Total Estimated Fair Value	918,775	1,305,700
Fair Value, Measurements, Recurring | Level 1 Securities | U.S. Government Agency Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Marketable securities, Cost or Amortized Cost	235,438	269,278
Marketable securities, Gross Unrealized Gains	215	48
Marketable securities, Gross Unrealized Losses	(171)	(32)
Marketable securities, Total Estimated Fair Value	235,482	269,294
Fair Value, Measurements, Recurring | Level 2 Securities | Corporate Debt Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Marketable securities, Cost or Amortized Cost	69,975	28,420
Marketable securities, Gross Unrealized Gains	11	13
Marketable securities, Gross Unrealized Losses	(173)	(4)
Marketable securities, Total Estimated Fair Value	69,813	28,429
Fair Value, Measurements, Recurring | Level 2 Securities | Commercial Paper
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Marketable securities, Cost or Amortized Cost	109,033	84,498
Marketable securities, Total Estimated Fair Value	109,033	84,498
Fair Value, Measurements, Recurring | Level 2 Securities | Certificates of Deposit
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Marketable securities, Cost or Amortized Cost	7,672	8,785
Marketable securities, Total Estimated Fair Value	$ 7,672	$ 8,785

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Income Tax Disclosure [Abstract]
Income tax expense	$ 659	$ 279

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) - Schedules of Changes in Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Accumulated Other Comprehensive Income Loss [Line Items]
Balance, beginning of period	$ 2,259,913
OCI before reclassifications	(2,861)
Amounts reclassified from AOCI	(608)
Total other comprehensive income (loss), net of tax	(3,469)	$ (3,215)
Balance, end of period	2,124,907	2,165,877
Marketable Securities
Accumulated Other Comprehensive Income Loss [Line Items]
Balance, beginning of period	429
OCI before reclassifications	4,302
Amounts reclassified from AOCI	(608)
Total other comprehensive income (loss), net of tax	3,694
Balance, end of period	4,123
Foreign Currency Translation
Accumulated Other Comprehensive Income Loss [Line Items]
Balance, beginning of period	144
OCI before reclassifications	(7,163)
Total other comprehensive income (loss), net of tax	(7,163)
Balance, end of period	(7,019)
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income Loss [Line Items]
Balance, beginning of period	573	3,147
Total other comprehensive income (loss), net of tax	(3,469)	(3,215)
Balance, end of period	$ (2,896)	$ (68)

Property and Equipment, Net - P

Property and Equipment, Net - Property and Equipment, Net by Geographic Area (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Property and equipment, net:
Total property and equipment, net	$ 173,751	$ 173,667
United States
Property and equipment, net:
Total property and equipment, net	152,024	153,771
Rest of World
Property and equipment, net:
Total property and equipment, net	$ 21,727	$ 19,896

Property and Equipment, Net -_2

Property and Equipment, Net - Property and Equipment, Net by Geographic Area (Parenthetical) (Details) - Country	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Geographic Concentrations | Property and Equipment Net | Rest of World
Revenues From External Customers And Long Lived Assets [Line Items]
Number of individual country exceeded 10% of total property and equipment	0	0