Udemy (UDMY) 10-Q 31 Jul 24 2024 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2024	Jul. 25, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
Document Transition Report	false
Entity File Number	001-40956
Entity Registrant Name	Udemy, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	27-1779864
Entity Address, Address Line One	600 Harrison Street
Entity Address, Address Line Two	3rd Floor
Entity Address, City or Town	San Francisco
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94107
City Area Code	415
Local Phone Number	813-1710
Title of 12(b) Security	Common Stock, $0.00001 par value
Trading Symbol	UDMY
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		150,362,361
Amendment Flag	false
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2024
Entity Central Index Key	0001607939
Current Fiscal Year End Date	--12-31

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 272,364	$ 305,564
Restricted cash, current	100	3,329
Marketable securities	148,559	171,372
Accounts receivable, net	82,078	92,555
Prepaid expenses and other current assets	19,922	20,924
Deferred contract costs, current	44,881	38,584
Total current assets	567,904	632,328
Property and equipment, net	3,842	4,439
Capitalized software, net	32,883	31,388
Operating lease right-of-use assets	12,742	5,691
Restricted cash, non-current	1,115	659
Deferred contract costs, non-current	33,585	35,790
Strategic investments	0	10,311
Intangible assets, net	3,314	5,223
Goodwill	12,646	12,646
Other assets	3,908	2,721
Total assets	671,939	741,196
Current liabilities:
Accounts payable	3,670	2,506
Accrued expenses and other current liabilities	34,830	27,778
Content costs payable	35,650	40,277
Accrued compensation and benefits	20,213	24,332
Operating lease liabilities, current	4,711	5,825
Deferred revenue, current	309,769	279,414
Total current liabilities	408,843	380,132
Operating lease liabilities, non-current	8,370	1,124
Deferred revenue, non-current	2,457	3,000
Other liabilities, non-current	15	48
Total liabilities	419,685	384,304
Note 7 – Commitments and contingencies
Stockholders' equity:
Common stock, $0.00001 par value - 950,000,000 shares authorized; 151,682,337 and 157,166,360 shares issued and outstanding as of June 30, 2024, and December 31, 2023, respectively.	2	2
Additional paid-in capital	1,022,147	1,076,508
Accumulated other comprehensive income (loss)	(44)	80
Accumulated deficit	(769,851)	(719,698)
Total stockholders’ equity	252,254	356,892
Total liabilities and stockholders' equity	$ 671,939	$ 741,196

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.00001	$ 0.00001
Common stock, shares authorized (in shares)	950,000,000	950,000,000
Common stock, shares issued (in shares)	151,682,337	157,166,360
Common stock, shares outstanding (in shares)	151,682,337	157,166,360

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Statement [Abstract]
Revenue	$ 194,360	$ 178,240	$ 391,206	$ 354,670
Cost of revenue	73,244	75,938	149,526	152,639
Gross profit	121,116	102,302	241,680	202,031
Operating expenses
Sales and marketing	86,990	77,371	174,291	157,028
Research and development	32,408	29,635	63,631	60,522
General and administrative	27,264	22,623	52,033	48,957
Restructuring charges	0	135	0	10,263
Total operating expenses	146,662	129,764	289,955	276,770
Loss from operations	(25,546)	(27,462)	(48,275)	(74,739)
Other income (expense)
Interest income	5,195	4,894	10,923	9,216
Interest expense	(77)	50	(80)	(340)
Other expense, net	(10,584)	(2,161)	(10,892)	(2,303)
Total other income (expense), net	(5,466)	2,783	(49)	6,573
Net loss before taxes	(31,012)	(24,679)	(48,324)	(68,166)
Income tax provision	(802)	(1,056)	(1,829)	(2,113)
Net loss	$ (31,814)	$ (25,735)	$ (50,153)	$ (70,279)
Net loss per share
Basic (in dollars per share)	$ (0.21)	$ (0.17)	$ (0.32)	$ (0.48)
Diluted (in dollars per share)	$ (0.21)	$ (0.17)	$ (0.32)	$ (0.48)
Weighted-average shares used in computing net loss per share
Basic (in shares)	152,987,927	148,071,315	154,779,176	146,910,959
Diluted (in shares)	152,987,927	148,071,315	154,779,176	146,910,959

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Comprehensive Income [Abstract]
Net loss	$ (31,814)	$ (25,735)	$ (50,153)	$ (70,279)
Other comprehensive income (loss):
Foreign currency translation gain (loss), net of tax	20	(5)	(32)	(16)
Change in unrealized gain (loss) on marketable securities, net of tax	10	53	(92)	201
Total other comprehensive income (loss)	30	48	(124)	185
Comprehensive loss	$ (31,784)	$ (25,687)	$ (50,277)	$ (70,094)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders’ Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit
Beginning balance (in shares) at Dec. 31, 2022		145,013,786
Beginning balance at Dec. 31, 2022	$ 339,310	$ 1	$ 951,946	$ (233)	$ (612,404)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	54,263		54,263
Exercise of stock options (in shares)		1,362,403
Exercise of stock options	4,777		4,777
Vesting of restricted stock units (in shares)		2,844,246
Vesting of restricted stock units	108		108
Issuance of common stock under employee stock purchase plan (in shares)		625,111
Issuance of common stock under employee stock purchase plan	4,757		4,757
Other comprehensive income (loss)	185			185
Net loss	(70,279)				(70,279)
Ending balance (in shares) at Jun. 30, 2023		149,845,546
Ending balance at Jun. 30, 2023	333,121	$ 1	1,015,851	(48)	(682,683)
Beginning balance (in shares) at Mar. 31, 2023		146,627,024
Beginning balance at Mar. 31, 2023	325,085	$ 1	982,128	(96)	(656,948)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	25,530		25,530
Exercise of stock options (in shares)		1,006,887
Exercise of stock options	3,328		3,328
Vesting of restricted stock units (in shares)		1,586,524
Vesting of restricted stock units	108		108
Issuance of common stock under employee stock purchase plan (in shares)		625,111
Issuance of common stock under employee stock purchase plan	4,757		4,757
Other comprehensive income (loss)	48			48
Net loss	(25,735)				(25,735)
Ending balance (in shares) at Jun. 30, 2023		149,845,546
Ending balance at Jun. 30, 2023	333,121	$ 1	1,015,851	(48)	(682,683)
Beginning balance (in shares) at Dec. 31, 2023		157,166,360
Beginning balance at Dec. 31, 2023	356,892	$ 2	1,076,508	80	(719,698)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	51,633		51,633
Exercise of stock options (in shares)		2,146,724
Exercise of stock options	377		377
Vesting of restricted stock units (in shares)		3,382,285
Vesting of restricted stock units	113		113
Issuance of common stock under employee stock purchase plan (in shares)		554,039
Issuance of common stock under employee stock purchase plan	4,533		4,533
Shares withheld related to net share settlement of equity awards (in shares)		(2,814,733)
Shares withheld related to net share settlement of equity awards	$ (19,905)		(19,905)
Repurchases of common stock (in shares)	(8,752,338)	(8,752,338)
Repurchases of common stock	$ (91,112)	$ 0	(91,112)
Other comprehensive income (loss)	(124)			(124)
Net loss	(50,153)				(50,153)
Ending balance (in shares) at Jun. 30, 2024		151,682,337
Ending balance at Jun. 30, 2024	252,254	$ 2	1,022,147	(44)	(769,851)
Beginning balance (in shares) at Mar. 31, 2024		153,591,721
Beginning balance at Mar. 31, 2024	296,494	$ 2	1,034,603	(74)	(738,037)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	26,567		26,567
Exercise of stock options (in shares)		1,365,726
Exercise of stock options	125		125
Vesting of restricted stock units (in shares)		1,633,696
Vesting of restricted stock units	113		113
Issuance of common stock under employee stock purchase plan (in shares)		554,039
Issuance of common stock under employee stock purchase plan	4,533		4,533
Shares withheld related to net share settlement of equity awards (in shares)		(1,672,652)
Shares withheld related to net share settlement of equity awards	$ (8,193)		(8,193)
Repurchases of common stock (in shares)	(3,790,193)	(3,790,193)
Repurchases of common stock	$ (35,601)	$ 0	(35,601)
Other comprehensive income (loss)	30			30
Net loss	(31,814)				(31,814)
Ending balance (in shares) at Jun. 30, 2024		151,682,337
Ending balance at Jun. 30, 2024	$ 252,254	$ 2	$ 1,022,147	$ (44)	$ (769,851)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities:
Net loss	$ (50,153)	$ (70,279)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	13,175	11,886
Amortization of deferred contract costs	28,642	21,829
Stock-based compensation	47,022	49,444
Allowance for credit losses	743	1,011
Accretion of marketable securities	(4,450)	(3,431)
Non-cash operating lease expense	2,732	3,012
Unrealized loss on strategic investments	10,311	1,793
Other	502	633
Changes in operating assets and liabilities:
Accounts receivable	9,732	16,524
Prepaid expenses and other assets	(545)	505
Deferred contract costs	(32,734)	(30,036)
Accounts payable, accrued expenses and other liabilities	2,937	(14,899)
Content costs payable	(4,627)	(206)
Operating lease liabilities	(3,539)	(3,436)
Deferred revenue	29,813	9,246
Net cash provided by (used in) operating activities	49,561	(6,404)
Cash flows from investing activities:
Purchases of marketable securities	(146,378)	(125,968)
Proceeds from maturities of marketable securities	173,550	139,000
Purchases of property and equipment	(554)	(243)
Capitalized software costs	(6,711)	(6,385)
Net cash provided by investing activities	19,907	6,404
Cash flows from financing activities:
Net proceeds from exercise of stock options	439	4,710
Proceeds from share purchases under employee stock purchase plan	4,533	4,757
Taxes paid related to net share settlement of equity awards	(19,815)	0
Repurchases of common stock	(90,577)	0
Net cash provided by (used in) financing activities	(105,420)	9,467
Effect of foreign exchange rates on cash flows	(21)	(25)
Net increase (decrease) in cash, cash equivalents and restricted cash	(35,973)	9,442
Cash, cash equivalents and restricted cash—Beginning of period	309,552	317,314
Cash, cash equivalents and restricted cash—End of period	273,579	326,756
Reconciliation of cash, cash equivalents and restricted cash:
Cash and cash equivalents, Amortized Costs	272,364	323,227
Restricted cash, current	100	0
Restricted cash, non-current	1,115	3,529
Total cash, cash equivalents and restricted cash	273,579	326,756
Supplemental disclosures of cash flow information:
Interest paid	0	568
Income taxes paid	602	990
Supplemental disclosure of non-cash investing and financing activities:
Stock-based compensation in capitalized costs	4,627	4,768
Net change in unrealized gain (loss) on marketable securities	(92)	202
Operating lease right-of-use assets exchanged for operating lease liabilities	$ 9,779	$ 0

Organization and description of

Organization and description of business	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and description of business	1. Organization and description of business Description of business Udemy, Inc. (“Udemy” or the “Company”) was incorporated in January 2010 under the laws of the state of Delaware. The Company is headquartered in San Francisco, California. Udemy is a global learning company whose online platform empowers organizations and individuals with flexible and effective skill acquisition and development. The Company’s learning marketplace platform enables tens of thousands of subject matter experts to develop, distribute and enhance content that reaches Udemy’s broad global audience of learners. Udemy leverages technology, data and insights to deliver personalized and effective learning experiences. The Company further curates its highest-quality content from the marketplace for Udemy Business, which enables companies around the world to offer engaging, effective, on-demand learning for all employees, immersive laboratory-style learning for tech teams, and cohort-based learning focused on leadership development.

Summary of significant accounti

Summary of significant accounting policies	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Summary of significant accounting policies	2. Summary of significant accounting policies Basis of consolidation and presentation — The accompanying condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). The condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany transactions and balances have been eliminated in consolidation, and all other normal and recurring adjustments that are, in the opinion of management, necessary for a fair presentation of the results of the periods presented have been made. Segment information — The Company defines its segments as those operations the chief operating decision maker (“CODM”), determined to be the Chief Executive Officer of the Company, regularly reviews to allocate resources and assess performance. For the three and six months ended June 30, 2024 and 2023, the Company operated under two operating and reportable segments: Enterprise and Consumer. The Company continually monitors and reviews its segment reporting structure in accordance with Accounting Standards Codification (“ASC”) Topic 280, Segment Reporting, to determine whether any changes have occurred that would impact its reportable segments. For further information on the Com pany’s segment reporting, see Note 12 – Segment and geographic information. Use of estimates — The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the condensed consolidated financial statements and the results of operations during the reporting periods. Significant estimates and assumptions reflected in the condensed consolidated financial statements include, but are not limited to, allowance for credit losses, capitalization of internally developed software and ass ociated useful lives, stock-based compensation, determination of the income tax valuation allowance and the potential outcome of uncertain tax positions, estimated service period for consumer single course purchases, the period of benefit for deferred commissions, t he fair value and associated useful lives of intangible assets and goodwill acquired via business combinations, the valuation of privately-held strategic investments, including impairments, and the carrying value of our operating lease right-of-use (“ROU”) assets. Management periodically evaluates such estimates and assumptions for continued reasonableness. Actual results may ultimately differ from management’s estimates and such differences could be material to the Company’s financial position and results of operations. Concentration of credit risk — Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents, marketable securities, restricted cash, and accounts receivable. For cash and restricted cash, the Company is exposed to credit risk in the event of default by the financial institutions to the extent the amounts recorded on the accompanying condensed consolidated balance sheets are in excess of federal insurance limits. The Company’s investments that are classified as cash equivalents and marketable securities consist of high-credit-quality instruments and fixed-income securities. The Company generally does not require collateral or other security in support of accounts receivable. To reduce credit risk, management performs ongoing evaluations of its customers’ financial condition and maintains an allowance based upon expected credit losses of outstanding receivables. The Company had no customers who accounted for more than 10% of total accounts receivable as of June 30, 2024 or December 31, 2023. No customer accounted for more than 10% of total revenue during the three and six months ended June 30, 2024 or 2023. Summary of significant ac counting policies— There have been no significant changes to the policies as disclosed in Note 2 – Summary of significant accounting policies of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023, which was filed with the SEC on February 26, 2024 (the “Annual Report”). Accounts receivable, net — Accounts receivable primarily represent amounts owed to the Company for Enterprise subscriptions. Also included in accounts receivable are amounts due from payment processors or mobile application store partners that settle over a period longer than five business days. Accounts receivable balances are recorded at the invoiced amount and are non-interest-bearing. Accounts receivable is presented net of allowance for credit losses in the accompanying condensed consolidated balance sheets. The Company maintains an allowance based upon expected credit losses of outstanding receivables. Management derives its estimate using a variety of factors, including historical collection and loss patterns; the current aging of receivables; geographic and other customer-specific credit risk factors; and reasonable and supportable forecasts of future economic conditions which inform adjustments to historical loss patterns. The provision for expected credit losses is recorded in general and administrative expenses in the accompanying condensed consolidated statements of operations. Accounts receivable deemed to be uncollectible are written off, net of expected or actual recoveries. Balance at Beginning of Period Charged to Expenses Charges Utilized/Written-off, Net of Recoveries Balance at End of Period Allowance for credit losses (in thousands) Six Months Ended June 30, 2024 $ 1,270 $ 743 $ (1,081) $ 932 Six Months Ended June 30, 2023 $ 1,528 $ 1,011 $ (776) $ 1,763 Recently Adopted Accounting Pronouncements Adopted in 2024 There are no recently issued accounting pronouncements that were adopted by the Company during the six months ended June 30, 2024. Recently Issued Accounting Pronouncements Not Yet Adopted In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which aims to improve reportable segment disclosure requirements, primarily through additional disclosures about significant segment expenses and the chief operating decision maker. The standard will become effective for the Company’s fiscal year ended December 31, 2024, and interim periods during the fiscal year ended December 31, 2025, with early adoption permitted. The amendments should be applied retrospectively to all prior periods presented in the financial statements. The Company is currently assessing the potential impact of the new standard on the Company’s condensed consolidated financial statements. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which requires disclosure of disaggregated income taxes paid, prescribes standard categories for the components of the effective tax rate reconciliation, and modifies other income tax-related disclosures. The standard will become effective for the Company’s fiscal year ended December 31, 2025, with early adoption permitted. The Company is currently assessing the potential impact of the new standard on the Company’s condensed consolidated financial statements.

Revenue recognition

Revenue recognition	6 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Revenue recognition	3. Revenue recognition Deferred revenue — Revenue recognized for the three months ended June 30, 2024, from amounts included in deferred revenue as of March 31, 2024, was $152.6 million. Revenue recognized for the three months ended June 30, 2023, from amounts included in deferred revenue as of March 31, 2023, was $135.2 million. Revenue recognized for the six months ended June 30, 2024, from amounts included in deferred revenue as of December 31, 2023, was $213.6 million. Revenue recognized for the six months ended June 30, 2023, from amounts included in deferred revenue as of December 31, 2022, was $200.5 million. The below table presents a summary of deferred revenue balances by reportable segment (in thousands): June 30, December 31, December 31, 2024 2023 2022 Deferred revenue: Enterprise $ 254,541 $ 220,127 $ 219,030 Consumer 57,685 62,287 59,249 Total deferred revenue $ 312,226 $ 282,414 $ 278,279 Remaining performance obligations — Remaining performance obligations represent the aggregate amount of the transaction price in contracts for performance obligations not delivered, or partially undelivered, as of the end of the reporting period. Remaining performance obligations primarily relate to deferred revenue as well as unbilled revenue from multi-year Enterprise subscription contracts with future installment payments, as well as unearned revenue from Consumer single course purchases and s ubscriptions at the end of any given period. As of June 30, 2024, the aggregate transaction price for remaining performance obligations was $557.4 million, of which 73% is expected to be recognized over the next twelve months and the remainder thereafter. Deferred contract costs — The following table represents a roll forward of the Company’s deferred contract costs (in thousands): Balance at Beginning of Period Additions Amortization Expense Balance at End of Period Six Months Ended June 30, 2024 $ 74,374 $ 32,734 $ (28,642) $ 78,466 Six Months Ended June 30, 2023 $ 65,645 $ 30,036 $ (21,829) $ 73,852

Investments and fair value meas

Investments and fair value measurements	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Investments and fair value measurements	4. Investments and fair value measurements The Company’s assets and liabilities that are measured at fair value on a recurring or nonrecurring basis within the fair value hierarchy are as follows (in thousands): As of June 30, 2024 Level 1 Level 2 Level 3 Current assets: Cash equivalents: Money market funds $ 234,681 $ — $ — Marketable securities: U.S. government securities $ — $ 148,559 $ — Non-current assets: Strategic investments $ — $ — $ — Non-current liabilities: Cash settled stock appreciation rights $ — $ — $ 16 As of December 31, 2023 Level 1 Level 2 Level 3 Current assets: Cash equivalents: Money market funds $ 266,692 $ — $ — Marketable securities: U.S. government securities $ — $ 171,372 $ — Non-current assets: Strategic investments $ — $ — $ 10,311 Non-current liabilities: Cash settled stock appreciation rights $ — $ — $ 48 The Company’s money market funds are classified within Level 1 of the fair value hierarchy because they are valued using quoted prices in active markets. The Company’s investments in U.S. government securities are classified within Level 2 of the fair value hierarchy because they have been valued using inputs other than quoted prices in active markets that are directly or indirectly observable. The Company’s strategic investment is classified within Level 3 of the fair value hierarchy because it has been valued using significant unobservable inputs for which the Company has been required to develop its own assumptions. A summary of the changes in the fair value of Level 3 financial instruments, of which vesting and remeasurement of stock appreciation rights (SARs) and impairment of strategic investments are recognized in the consolidated statements of operations, is as follows (in thousands): Stock Appreciation Rights Strategic Investments Balance— March 31, 2024 $ 22 $ 10,311 Vesting and remeasurement of SARs (6) — Unrealized loss on strategic investments — (10,311) Balance— June 30, 2024 $ 16 $ — Balance— March 31, 2023 $ 264 $ 12,104 Vesting and remeasurement of SARs 19 — Exercises of SARs (253) — Unrealized loss on strategic investments — (1,793) Balance— June 30, 2023 $ 30 $ 10,311 Balance— December 31, 2023 $ 48 $ 10,311 Vesting and remeasurement of SARs (25) — Exercises of SARs (7) — Unrealized loss on strategic investments — (10,311) Balance— June 30, 2024 $ 16 $ — Balance— December 31, 2022 $ 462 $ 12,104 Vesting and remeasurement of SARs (179) — Exercises of SARs (253) — Unrealized loss on strategic investments — (1,793) Balance— June 30, 2023 $ 30 $ 10,311 The Company evaluates its strategic investments for impairment at each reporting period. This evaluation considers several potential qualitative and quantitative impairment indicators including, but not limited to, the investee's financial metrics, whether there were any significant adverse changes in the economic environment or general market conditions of the geographies and industries in which the investee operates, and any other publicly available information that may affect the value of the investment. The Company determined that qualitative indicators of impairment existed as of June 30, 2024, and therefore performed an assessment of the fair value of its investment. The fair value analysis involved the use of significant observable and unobservable assumptions, including the investee’s forecasted financial condition in relation to its outstanding obligations, ability to secure additional funds through various alternative scenarios, and a dual market and income approach involving revenue multiples of publicly traded peer companies and financial forecasts provided by the investee. Based on the assessment performed as of June 30, 2024, the Company recognized an impairment loss of $10.3 million during the three and six months ended June 30, 2024, such that the carrying value of its strategic investments was reduced to zero. The cost basis of the strategic investments is $15.0 million. In addition to the impairment charge recognized during the three and six months ended June 30, 2024, the Company previously recognized impairment charges of $1.8 million during the second quarter of 2023 and $2.9 million during the third quarter of 2022.

Consolidated balance sheet comp

Consolidated balance sheet components	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Consolidated balance sheet components	5. Consolidated balance sheet components Cash, cash equivalents, and marketable securities — The amortized cost, unrealized gains and losses, and estimated fair value of cash, cash equivalents, and marketable securities consisted of the following (in thousands): As of June 30, 2024 Amortized Cost Unrealized Gains Unrealized Losses Fair Value Cash and cash equivalents: Cash $ 37,683 $ — $ — $ 37,683 Money market funds 234,681 — — 234,681 Total cash and cash equivalents 272,364 — — 272,364 Marketable securities: U.S. government securities 148,575 3 (19) 148,559 Total cash, cash equivalents, and marketable securities $ 420,939 $ 3 $ (19) $ 420,923 As of December 31, 2023 Amortized Cost Unrealized Gains Unrealized Losses Fair Value Cash and cash equivalents: Cash $ 38,872 $ — $ — $ 38,872 Money market funds 266,692 — — 266,692 Total cash and cash equivalents 305,564 — — 305,564 Marketable securities: U.S. government securities 171,296 76 — 171,372 Total cash, cash equivalents, and marketable securities $ 476,860 $ 76 $ — $ 476,936 Cash equivalents and marketable securities in an unrealized loss position consisted of the following (in thousands): June 30, 2024 December 31, 2023 Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Marketable securities: U.S. government securities $ 127,651 $ (19) $ — $ — Total securities in an unrealized loss position $ 127,651 $ (19) $ — $ — Realized gains and losses reclassified from accumulated other comprehensive loss to other income, net were zero for the three and six months ended June 30, 2024 and 2023. No securities had been in a continuous unrealized loss position for twelve months or longer as of June 30, 2024 or December 31, 2023. The Company does not intend to sell available-for-sale marketable debt securities in unrealized loss positions, and it is more likely than not that the Company will hold these securities until maturity or recovery of the cost basis. As of June 30, 2024 and December 31, 2023, the Company did not have an allowance for credit losses related to its available-for-sale debt securities due to a zero loss expectation for the portfolio which consists solely of U.S. government securities. As of June 30, 2024, the entirety of the Company’s marketable securities portfolio had remaining contractual maturities of one year or less. Property and equipment, net — Property and equipment, net consisted of the following (in thousands): June 30, December 31, 2024 2023 Leasehold improvements $ 19,064 $ 19,064 Computers and equipment 8,408 7,770 Furniture and fixtures 4,713 4,705 Purchased software 383 383 Construction in progress 62 — Total property and equipment 32,630 31,922 Less accumulated depreciation and amortization (28,788) (27,483) Property and equipment, net $ 3,842 $ 4,439 Depreciation expe nse was $0.8 million for each of the three months ended June 30, 2024 and 2023, respectively, and $1.5 million and $1.6 million for the six months ended June 30, 2024 and 2023, respectively. Capitalized software, net — Capitalized software, net consisted of the following (in thousands): June 30, December 31, 2024 2023 Capitalized software $ 96,424 $ 85,160 Less accumulated amortization (63,541) (53,772) Capitalized software, net $ 32,883 $ 31,388 Amortization expense of capitalized software was $5.0 million and $4.3 million for the three months ended June 30, 2024 and 2023, respectively, and $9.8 million and $8.2 million for the six months ended June 30, 2024 and 2023, respectively. As of June 30, 2024, expected amortization expense for capitalized software over the remaining asset lives was as follows (in thousands): Remainder of 2024 $ 9,475 2025 14,663 2026 7,604 2027 1,141 Total expected amortization $ 32,883 Intangible assets, net and goodwill— As of June 30, 2024, intangible assets, net acquired as part of the CorpU business combination were as follows (in thousands): Estimated Useful Lives Intangible Assets, Gross Accumulated Amortization Intangible Assets, Net Customer relationships 6 years $ 5,500 $ (2,615) $ 2,885 Vendor relationships 3 years 4,500 (4,278) 222 Developed technology 3 years 4,200 (3,993) 207 Tradename 2 years 900 (900) — Total $ 15,100 $ (11,786) $ 3,314 As of December 31, 2023, intangible assets, net acquired as part of the CorpU business combination were as follows (in thousands): Estimated Useful Lives Intangible Assets, Gross Accumulated Amortization Intangible Assets, Net Customer relationships 6 years $ 5,500 $ (2,156) $ 3,344 Vendor relationships 3 years 4,500 (3,528) 972 Developed technology 3 years 4,200 (3,293) 907 Tradename 2 years 900 (900) — Total $ 15,100 $ (9,877) $ 5,223 Amortization expense of intangible assets was $1.0 million for each of the three months ended June 30, 2024 and 2023, respectively, and $1.9 million and $2.1 million for the six months ended June 30, 2024 and 2023, respectively. The expected future amortization expense for intangible assets as of June 30, 2024 was as follows (in thousands): Remainder of 2024 $ 886 2025 917 2026 917 2027 594 Total expected amortization $ 3,314 Goodwill in the amount of $12.6 million was established as part of the CorpU acquisition on August 24, 2021, and allocated to the Enterprise segment. This amount represents the excess of the purchase price over the fair value of net assets acquired. There have been no adjustments to the carrying amount of goodwill as of June 30, 2024. The Company tests for impairment at least annually, or whenever events or changes in circumstances occur that could impact the recoverability of these assets. No such triggering events were noted for the three and six months ended June 30, 2024 and 2023. Accrued expenses and other current liabilities — Accrued expenses and other current liabilities consisted of the following (in thousands): June 30, December 31, 2024 2023 Accrued expenses $ 22,865 $ 13,773 Indirect tax reserves 1,816 1,432 Indirect tax payables 7,208 8,758 Other current liabilities 2,941 3,815 Accrued expenses and other current liabilities $ 34,830 $ 27,778

Leases

Leases	6 Months Ended
	Jun. 30, 2024
Leases [Abstract]
Leases	6. Leases The Company applies the guidance under Topic 842 for leases of real estate facilities under non-cancelable operating leases. During the three months ended June 30, 2024, new leasing activities resulted in additional operating lease right-of-use assets of $9.8 million. These activities primarily consisted of extensions to lease terms for real estate facilities through fiscal year 2029. The longest remaining lease term, relating to the Company’s San Francisco headquarters, also has a five-year renewal option not included in the lease term as it was not reasonably certain of being exercised at the time of renewal. As part of these activities, the Company is entitled to receive $2.1 million in tenant incentives for future leasehold improvements to be constructed by the Company. The amount of cash restricted in connection with certain new and renewed lease agreements was also reduced by $2.5 million. The components of lease costs, supplemental cash flow information, lease term, and discount rate for operating leases are as follows (in thousands, except for percentages and years): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Operating lease costs $ 1,255 $ 1,564 $ 2,805 $ 3,234 Variable lease costs $ 308 $ 231 $ 553 $ 545 Cash paid for amounts included in the measurement of operating lease liabilities $ 3,673 $ 3,697 June 30, December 31, 2024 2023 Weighted average remaining term (years) 3.7 1.3 Weighted average discount rate 5.7 % 3.9 % Future minimum lease payments (net of expected tenant incentives) under noncancellable operating leases with initial lease terms in excess of one year as of June 30, 2024, were as follows (in thousands): Remainder of 2024 $ 2,349 2025 2,927 2026 4,009 2027 2,231 2028 2,298 2029 1,166 Gross lease payments 14,980 Less imputed interest (1,899) Present value of operating lease liabilities $ 13,081

Commitments and contingencies

Commitments and contingencies	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and contingencies	7. Commitments and contingencies Noncancellable purchase commitments — The Company has contractual commitments with its cloud infrastructure provider, network service providers and paid advertising and sponsorship vendor s that are noncancellable. The Company had $42.0 million worth of future minimum payments under noncancellable purchase commitments with remaining terms in excess of one year as of June 30, 2024, which are expected to be paid through 2027. Indemnification — The Company enters into indemnification provisions under agreem ents with other parties in the ordinary course of business, including certain business partners, investors, contractors, and the Company’s officers, directors, and certain employees. The Company has agreed to indemnify and defend the indemnified party’s claims and related losses suffered or incurred by the indemnified party resulting from actual or threatened third-party claims because of the Company’s activities or, in some cases, non-compliance with certain representations and warranties made by the Company. In general, the Company does not record any liability for these indemnities in the accompanying condensed consolidated balance sheets as the amounts cannot be reasonably estimated and are not considered probable. The Company does, however, accrue for losses for any known contingent liability, including those that may arise from indemnification provisions, when future payment is probable. To date, losses recorded in the Company’s condensed consolidated statements of operations in connection with the indemnification provisions have not been material. Litigation — From time to time, in the ordinary course of business, the Company is subject to legal proceedings, claims, investigations, and other proceedings, including claims of alleged infringement of third-party patents and other intellectual property rights, and commercial, employment, and other matters. In accordance with generally accepted accounting principles, the Company makes a provision for a liability when it is both probable that a liability has been incurred and the amount of the loss can be reasonably estimated. These provisions are reviewed at least annually and adjusted to reflect the impacts of negotiations, settlements, rulings, advice of legal counsel, and other information and events pertaining to a particular case. The outcome of such litigation is not expected to have a material effect on the financial position, results of operation and cash flows of the Company. The Company has recorded an immaterial amount related to all outstanding litigation matters in the accrued expenses and other current liabilities caption of the accompanying condensed consolidated balance sheets as of June 30, 2024, and December 31, 2023 .

Income taxes

Income taxes	6 Months Ended
	Jun. 30, 2024
Income Tax Disclosure [Abstract]
Income taxes	8. Income taxes The provision for income taxes for interim periods is determined using an estimate of the Company’s annual effective tax rate, adjusted for discrete items, if any, that are taken into consideration in the relevant period. Each quarter, the Company updates the estimate of the annual effective tax rate, and if the estimated tax rate changes, the Company records a cumulative adjustment to the provision. The Company had an effective tax rate of (2.59)% and (4.28)% for the three months ended June 30, 2024 and 2023, respectively, and (3.78)% and (3.10)% for the six months ended June 30, 2024 and 2023, respectively. The difference between the 21% statutory federal tax rate and the effective tax rate was primarily a result of income earned in jurisdictions with higher statutory tax rates, foreign withholding taxes, and tax credits offset by change in valuation allowance. As of June 30, 2024 and December 31, 2023, the Company has provided a valuation allowance against U.S. federal and state deferred tax assets. Management continues to evaluate the realizability of deferred tax assets and the related valuation allowance. If management's assessment of the deferred tax assets or the corresponding valuation allowance were to change, the Company would record the related adjustment to income during the period in which management makes the determination. The Company recognizes interest and penalties associated with uncertain tax positions as part of the income tax provision. To date, the Company has not recognized any interest and penalties in its condensed consolidated statements of operations, nor has it accrued for or made payments for interest and penalties. The Company is subject to taxation in the U.S. and various foreign jurisdictions. Due to NOL carryforwards and tax credit carryforwards, the statutes of limitations remain open for tax years from inception of the Company through 2023. There are currently no income tax audits underway by U.S. federal or state tax authorities. In October 2023, the Company’s subsidiary, Udemy India LLP received a tax assessment from the India Income Tax Department, for the fiscal year ended March 31, 2021. The assessment challenged the transfer pricing methodology used by Udemy India LLP. The Company believes the proposed adjustment is without merit and will vigorously defend its position; however, it could take a number of years to reach resolution of this matter.

Related party transactions

Related party transactions	6 Months Ended
	Jun. 30, 2024
Related Party Transactions [Abstract]
Related party transactions	9. Related party transactions Naspers Ltd. (“Naspers”), through an investment entity controlled by Prosus N.V. (“Prosus”), beneficially owns more than 5% of the Company’s outstanding capital stock. A current member of the Company’s Board of Directors is an executive of a Prosus operating subsidiary, OLX Global B.V. A former member of the Company’s Board of Directors, who resigned in September 2022, was an executive officer of Prosus. Naspers and certain entities directly and indirectly controlled by Naspers are customers of the Company’s Enterprise subscription offering. The Company recorded $0.4 million of revenue during each of the three months ended June 30, 2024 and 2023, and $0.8 million and $0.7 million of revenue during the six months ended June 30, 2024 and 2023, respectively. The Company had immaterial accounts receivable balances with these customers as of June 30, 2024 and December 31, 2023. Insight Partners, where a member of the Company’s Board of Directors is a Managing Director, has certain affiliates who are customers of the Company’s Enterprise subscription offering. The Company recorded $0.2 million and $0.4 million of revenue from services provided to these customers during the three and six months ended June 30, 2024, respectively. As of June 30, 2024, the Company had an immaterial accounts receivable balance with these customers. The Company had an accounts receivable balance of $0.2 million with these customers as of December 31, 2023. Insight Partners is also affiliated with certain vendors that the Company has contracted to provide technology and software solutions. The Company recorded $0.2 million and $0.1 million of expense during the three months ended June 30, 2024 and 2023, respectively, and $0.4 million and $0.3 million of expense during the six months ended June 30, 2024 and 2023, respectively. The Company had immaterial accounts payable balances with these vendors as of June 30, 2024 and December 31, 2023. Certain members of the Company’s Board of Directors also serve as executive officers for customers of the Company’s Enterprise subscription offering. The Company recorded $0.1 million of revenue from services provided to these customers during each of the three months ended June 30, 2024 and 2023, and $0.2 million of revenue during each of the six months ended June 30, 2024 and 2023. The Company had no accounts receivable balance with these customers as of June 30, 2024. As of December 31, 2023, the Company had an accounts receivable balance with these customers of $0.4 million.

Stockholders' equity

Stockholders' equity	6 Months Ended
	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
Stockholders' equity	10. Stockholders' equity Preferred stock — In connection with the IPO, the Company’s amended and restated certificate of incorporation became effective, which authorized the issuance of 50,000,000 shares of undesignated preferred stock with a par value of $0.00001 per share with rights and preferences, including voting rights, designated from time to time by the board of direc tors. As of June 30, 2024 and December 31, 2023, there were zero shares issued and outstanding. Common stock — Common stockholders are entitled to one vote per share. Shares of common stock reserved for future issuance consisted of the following: June 30, December 31, 2024 2023 2010 Equity Incentive Plan: Stock options outstanding 2,417,020 4,621,021 2021 Equity Incentive Plan: RSUs outstanding and PSUs (1) 18,817,070 16,738,309 Shares available for future issuance under: 2021 Equity Incentive Plan 9,357,028 4,093,695 2021 Employee Stock Purchase Plan 3,374,376 2,350,803 Total shares of common stock reserved 33,965,494 27,803,828 (1) For those PSUs in their respective performance periods, the number of shares reserved for issuance is based on the maximum achievement of the corporate performance metrics. Share repurchase program — On February 14, 2024, the Company’s Board of Directors approved a share repurchase program (the “Repurchase Program”) with authorization to purchase up to $100 million of Udemy common stock. The Board of Directors approved a $50 million extension of the Repurchase Program on May 2, 2024, bringing the total authorized under the Repurchase Program to $150 million. The Company may repurchase shares of common stock from time to time through open market purchases, in privately negotiated transactions, or by other means, including through the use of trading plans intended to qualify under Rule 10b5-1 under the Securities Exchange Act of 1934, as amended, in accordance with applicable securities laws and other restrictions. The number of shares to be repurchased and the timing of the repurchases depend on several factors, including, without limitation, business, economic, and market conditions, corporate, legal, and regulatory requirements, prevailing stock prices, trading volume, and other considerations. The Repurchase Program may be suspended or discontinued at any time and does not obligate the Company to acquire any amount of common stock. Shares repurchased by the Company are accounted for on the settlement date. Upon settlement, repurchased shares are immediately retired and no longer considered issued or outstanding. The total cost to repurchase shares includes any direct costs incurred, including broker commissions and excise taxes, and is recorded as a reduction to additional paid in capital in the condensed consolidated balance sheets. During the three months ended June 30, 2024, the Company repurchased 3,790,193 shares for an aggregate total of $35.6 million, inclusive of direct costs incurred. During the six months ended June 30, 2024, the Company repurchased 8,752,338 shares for an aggregate total of $91.1 million, inclusive of direct costs incurred. Equity incentive plans — In 2010, the Company adopted the 2010 Equity Incentive Plan (the “2010 Plan”). The 2010 Plan provided for incentive stock options (“ISOs”), non-statutory stock options (“NSOs”, collectively with ISOs, “stock options”), SARs, restricted stock, and restricted stock units (“RSUs”) to be granted to eligible employees, directors, and consultants. The 2010 Plan was terminated in October 2021 in connection with the IPO but continues to govern the terms and conditions of the outstanding awards granted pursuant to the 2010 Plan. No further equity awards will be granted under the 2010 Plan. The Company adopted the 2021 Equity Incentive Plan (the "2021 Plan") in September 2021, which became effective on October 28, 2021 (collectively with the 2010 Plan, the “Equity Incentive Plans”) and was approved by the Company’s stockholders. The 2021 Plan provides for the granting of ISOs, NSOs, SARs, restricted stock, RSUs, and performance awards to eligible employees, directors, and consultants. The Company initially reserved 13,800,000 shares for issuance under the 2021 Plan. The amount available for issuance is subject to an annual increase on the first day of each calendar year, beginning on January 1, 2023, in an amount equal to 5% of the outstanding shares of the Company’s common stock on the last day of the immediately preceding calendar year or a lesser amount determined by the Company’s Board of Directors or compensation committee. The amount available for issuance shall also include Returning Shares, which are any shares subject to awards granted under the 2010 Plan that, on or after October 29, 2021, expire or otherwise terminate without having been exercised in full, are tendered to or withheld by the Company for payment of an exercise price or for tax withholding obligations, or are forfeited to or repurchased by the Company due to failure to vest. Additionally, any difference in (i) the number of PSUs reserved for future issuance based on maximum achievement of the corporate performance metric and (ii) the number of PSUs issued based on actual attainment are returned to the 2021 Plan. On January 1, 2024, the shares available for future grants under the 2021 Plan automatically increased by 7,858,318 pursuant to the above evergreen provision of the 2021 Plan. Restricted stock units and performance-based restricted stock units — The fair value of RSUs and PSUs are determined using the fair value of the Company’s common stock on the date of grant. The Company recognizes stock-based compensation expense for RSUs with service-based vesting conditions on a straight-line basis over the requisite service period for each award, which typically vest over a three Each PSU conveys a right to receive one share of the Company’s common stock on the date it vests, provided that the number of PSUs that will ultimately vest may vary based upon achievement of the corporate performance metrics at the end of the performance period. During the performance period, Management estimates the number of PSUs that are expected to vest based on the anticipated achievement. If the performance-based vesting condition is considered probable of being achieved, the Company recognizes expense over the requisite service period based on the probable outcome of achievement. If the performance goals are not met, or are considered improbable, no compensation cost is recognized, and any previously recognized compensation cost is reversed. Total stock-based compensation expense to be recognized may fluctuate during the performance period due to changes in forecasted achievement. During the first quarter of 2024, the Company granted 553,568 PSUs at target to certain executives, with payout achievement ranging from 0% to 150% of target. One quarter of the eligible PSUs vest upon certification of the corporate performance metrics by the Board of Directors’ compensation committee in the first quarter of 2025, and the remaining 75% will vest equally over the following 12 quarters, subject to continual service by the grantee. Achievement has been considered probable since the grant date, and, as of June 30, 2024, the Company estimated a payout rate of 40% of target based on forecasted achievement. During the first quarter of 2023, the Company granted 645,833 PSUs at target to certain executives, with payout achievement ranging from 0% to 150% of target. In February 2024, the Board of Directors’ compensation committee certified actual achievement against target of 70%. As a result, 450,170 shares were awarded to the grantees, of which one quarter vested in the quarter of certification, while the remaining 75% will vest equally over the following 12 quarters, subject to continual service by the grantee. The difference in the number of shares granted at target and the shares certified by the Board based on actual achievement were canceled and returned to the pool of available for future issuance under the 2021 Plan. A summary of RSU and PSU activity under the 2021 Plan is as follows: RSUs Outstanding Weighted Average Grant Date Fair Value PSUs Outstanding (1) Weighted Average Grant Date Fair Value Unvested - December 31, 2023 15,769,577 $ 14.07 645,833 $ 8.89 Granted 6,316,311 10.04 553,568 10.98 Released (3,241,601) 15.19 (140,684) 8.89 Canceled (1,127,093) 14.80 (235,596) 8.89 Unvested - June 30, 2024 17,717,194 $ 12.39 823,121 $ 10.30 Awards vested, not yet released - June 30, 2024 8,276 $ 9.66 — $ — (1) Canceled PSU shares consist of awards forfeited as well as the difference in the number of shares granted at target in 2023 and the shares certified by the Board based on actual achievement. As of June 30, 2024, total unrecognized stock-based compensation expense related to unvested RSUs was $196.1 million, which will be recognized over a weighted average period of 2.8 years. As of June 30, 2024, total unrecognized stock-based compensation expense related to unvested PSUs was $2.9 million, which will be recognized over a weighted average period of 1.8 years. Stock options — The Company may grant stock options at exercise prices not less than the fair market value at the date of grant. These options generally expire 10 years from the date of grant. The Company recognizes stock-based compensation expense on a straight-line basis over the requisite service period for each award, which is generally even over four years. The following is a summary of activity for stock options having only service-based vesting conditions under the Equity Incentive Plans: Options Outstanding Weighted Average Exercise Price Weighted Average Remaining Contractual Term Aggregate Intrinsic Value Balance - December 31, 2023 4,571,021 $ 5.08 3.23 $ 44,309 Granted — — Exercised (2,146,724) 5.59 Canceled (57,277) 8.15 Balance - June 30, 2024 2,367,020 $ 4.54 4.92 $ 10,317 Vested & expected to vest as of June 30, 2024 2,367,020 $ 4.54 4.92 $ 10,317 Exercisable as of June 30, 2024 2,353,087 $ 4.48 4.91 $ 10,317 As of June 30, 2024, total unrecognized stock-based compensation expense related to unvested stock options was immaterial. Stock appreciation rights — There have been no other changes to the Company’s SARs compared to those described in Note 12— Stockholders’ equity, included in Part II, Item 8 of the Company’s Annual Report. During the six months ended June 30, 2024, 1,558 SARs were exercised at an exercise price of $6.58. As of June 30, 2024, there were 3,000 outstanding SARs worth an immaterial total fair value. Performance-based stock options — There have been no other changes to the Company’s performance-based stock options compared to those described in Note 12— Stockholders’ equity, included in Part II, Item 8 of the Company’s Annual Report. As of June 30, 2024, there were 50,000 performance-based stock options outstanding, of which 32,291 were exercisable. As of June 30, 2024, total unrecognized stock-based compensation expense related to unvested Performance-Based Options was immaterial. Employee stock purchase plan — The 2021 Employee Stock Purchase Plan (the “ESPP”) became effective on October 29, 2021. The Company initially reserved 2,800,000 shares of the Company's common stock under the ESPP. Shares reserved for issuance shall increase on the first day of the fiscal year, beginning in fiscal 2023, in an amount equal to the least of 1% of the outstanding shares of common stock on the last day of the immediately preceding fiscal year, three times the initial number of shares reserved under the ESPP, or a lesser amount determined by the Company’s Board of Directors or compensation committee. On January 1, 2024, the shares available for future grants under the ESPP automatically increased by 1,571,663 pursuant to the above evergreen provision of the 2021 ESPP. During the six months ended June 30, 2024, 554,039 shares of common stock were issued under the ESPP. On May 20, 2024, the Company’s ESPP purchase price was reset for the November 2023 offering period. Under the reset provision, if the closing stock price on the purchase date falls below the closing stock price on the offering date of an ongoing offering period, the ongoing offering period terminates immediately following the purchase of ESPP shares on the purchase date. Participants in the terminated offering period are then automatically enrolled in the new offering period. The ESPP reset resulted in an immaterial amount of incremental compensation cost for the reset participants. This amount, along with the unrecognized expense remaining from the original grant date fair value, will be recognized on a straight-line basis over the new offering period ending in May 2026. The following table summarizes the weighted-average assumptions used in the Black-Scholes option-pricing model to estimate the fair value of employee stock purchase rights granted under the new ESPP offering period: Three and Six Months Ended June 30, 2024 Risk-free interest rate 5.1 % Expected volatility 51.9 % Expected life (in years) 1.3 Expected dividend yield — % As of June 30, 2024, total unrecognized compensation cost for the ESPP was $5.9 million, which will be recognized over a weighted average period of 1.2 years. Total stock-based compensation expense included in the condensed consolidated statements of operations was as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Cost of revenue $ 1,813 $ 1,749 $ 3,470 $ 3,342 Sales and marketing 7,664 8,099 15,005 15,376 Research and development 7,329 6,423 14,004 12,717 General and administrative 7,511 6,890 14,543 16,801 Restructuring charges — — — 1,208 Total stock-based compensation expense $ 24,317 $ 23,161 $ 47,022 $ 49,444 The Company capitalized $2.2 million and $2.4 million of stock-based compensation expense as capitalized software during three months ended June 30, 2024 and 2023, respectively, and $4.5 million and $4.7 million during the six months ended June 30, 2024 and 2023, respectively.

Net loss per share

Net loss per share	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Net loss per share	11. Net loss per share The following table presents the calculation of basic and diluted net loss per share (in thousands, except share and per share amounts): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Numerator: Net loss $ (31,814) $ (25,735) $ (50,153) $ (70,279) Denominator: Weighted-average shares used in computing net loss per share Basic and diluted 152,987,927 148,071,315 154,779,176 146,910,959 Net loss per share Basic and diluted $ (0.21) $ (0.17) $ (0.32) $ (0.48) The following potentially dilutive securities were excluded from the computation of diluted net loss per share calculations, because the impact of including them would have been anti-dilutive: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 RSUs, PSUs, and restricted stock 18,187,009 18,297,774 18,187,009 18,297,774 Stock options 2,417,020 8,836,101 2,417,020 8,836,101 Contingently issuable shares under ESPP 150,511 159,077 150,511 159,077 Total potentially dilutive securities 20,754,540 27,292,952 20,754,540 27,292,952

Segment and geographic informat

Segment and geographic information	6 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
Segment and geographic information	12. Segment and geographic information The Company’s Chief Executive Officer is its CODM. The CODM reviews separate financial information presented for the Company’s two segments, Enterprise and Consumer, in order to allocate resources and evaluate the Company’s financial performance. Financial information for each reportable segment was as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Revenue Enterprise $ 120,556 $ 101,619 $ 238,196 $ 196,861 Consumer 73,804 76,621 153,010 157,809 Total revenue 194,360 178,240 391,206 354,670 Segment cost of revenue Enterprise 33,316 33,952 66,314 66,819 Consumer 32,299 35,132 68,297 72,628 Total segment cost of revenue 65,615 69,084 134,611 139,447 Segment gross profit Enterprise 87,240 67,667 171,882 130,042 Consumer 41,505 41,489 84,713 85,181 Total segment gross profit 128,745 109,156 256,595 215,223 Reconciliation of segment gross profit to gross profit Amortization of capitalized software 4,978 4,270 9,769 8,173 Amortization of intangible assets 725 725 1,450 1,450 Depreciation 113 111 226 228 Stock-based compensation 1,813 1,748 3,470 3,342 Total reconciling items 7,629 6,854 14,915 13,192 Total gross profit $ 121,116 $ 102,302 $ 241,680 $ 202,031 Geographic information Revenue : The following table summarizes the revenue by region based on the billing address of the Company’s customers (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 North America $ 77,271 $ 71,814 $ 154,492 $ 143,521 Europe, Middle East, Africa 58,912 54,540 120,269 109,091 Asia Pacific 44,334 39,342 89,212 77,501 Latin America 13,843 12,544 27,233 24,557 Total revenue $ 194,360 $ 178,240 $ 391,206 $ 354,670 During the three and six months ended June 30, 2024, revenue from the United States and Japan each exceeded 10% of the Company’s total revenue. During the three and six months ended June 30, 2023, the United States was the only country to exceed 10% of the Company’s total revenue. Long-lived assets : The following table presents the Company’s long-lived assets, which consist of tangible property and equipment, net of depreciation, and operating lease ROU assets, by geographic region (in thousands): June 30, December 31, 2024 2023 United States $ 10,555 $ 7,007 Rest of world 6,031 3,109 Total long-lived assets $ 16,586 $ 10,116

Restructuring charges

Restructuring charges	6 Months Ended
	Jun. 30, 2024
Restructuring and Related Activities [Abstract]
Restructuring charges	13. Restructuring charges On February 13, 2023, the Company communicated to its employees that in response to current macroeconomic conditions and to further streamline its operations and cost structure, it would reduce its global workforce by approximately 10%. As a result, the Company recognized restructuring charges of $10.1 million in the first quarter of 2023, primarily consisting of $8.9 million of personnel expenses such as salaries and wages, one-time severance payments, and other benefits. The Company also recognized $1.2 million of stock-based compensation expense on the communication date, resulting from impacted employees having no future substantive service requirement but continuing to vest into their equity awards during legally required retention periods as well as certain modifications to enable additional vesting after impacted employees’ termination dates. The restructuring plan was completed in the third quarter of 2023.

Subsequent events

Subsequent events	6 Months Ended
	Jun. 30, 2024
Subsequent Events [Abstract]
Subsequent events	14. Subsequent events In July 2024, the Company repurchased and immediately retired 1,961,639 shares of common stock for an aggregate principal value of $16.8 million, pursuant to the Repurchase Program as discussed in Note 10 – Stockholders' equity.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net loss	$ (31,814)	$ (25,735)	$ (50,153)	$ (70,279)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Summary of significant accoun_2

Summary of significant accounting policies (Policies)	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Basis of consolidation and presentation	Basis of consolidation and presentation —
Segment information	Segment information — The Company defines its segments as those operations the chief operating decision maker (“CODM”), determined to be the Chief Executive Officer of the Company, regularly reviews to allocate resources and assess performance. For the three and six months ended June 30, 2024 and 2023, the Company operated under two operating and reportable segments: Enterprise and Consumer. The Company continually monitors and reviews its segment reporting structure in accordance with Accounting Standards Codification (“ASC”) Topic 280, Segment Reporting, to determine whether any changes have occurred that would impact its reportable segments. For further information on the Com pany’s segment reporting, see Note 12 – Segment and geographic information.
Use of estimates	Use of estimates — The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the condensed consolidated financial statements and the results of operations during the reporting periods. Significant estimates and assumptions reflected in the condensed consolidated financial statements include, but are not limited to, allowance for credit losses, capitalization of internally developed software and ass ociated useful lives, stock-based compensation, determination of the income tax valuation allowance and the potential outcome of uncertain tax positions, estimated service period for consumer single course purchases, the period of benefit for deferred commissions, t he fair value and associated useful lives of intangible assets and goodwill acquired via business combinations, the valuation of privately-held strategic investments, including impairments, and the carrying value of our operating lease right-of-use (“ROU”) assets. Management periodically evaluates such estimates and assumptions for continued reasonableness. Actual results may ultimately differ from management’s estimates and such differences could be material to the Company’s financial position and results of operations.
Concentration of credit risk	Concentration of credit risk — Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents, marketable securities, restricted cash, and accounts receivable. For cash and restricted cash, the Company is exposed to credit risk in the event of default by the financial institutions to the extent the amounts recorded on the accompanying condensed consolidated balance sheets are in excess of federal insurance limits. The Company’s investments that are classified as cash equivalents and marketable securities consist of high-credit-quality instruments and fixed-income securities. The Company generally does not require collateral or other security in support of accounts receivable. To reduce credit risk, management performs ongoing evaluations of its customers’ financial condition and maintains an allowance based
Accounts receivable, net	Accounts receivable, net — Accounts receivable primarily represent amounts owed to the Company for Enterprise subscriptions. Also included in accounts receivable are amounts due from payment processors or mobile application store partners that settle over a period longer than five business days. Accounts receivable balances are recorded at the invoiced amount and are non-interest-bearing. Accounts receivable is presented net of allowance for credit losses in the accompanying condensed consolidated balance sheets. The Company maintains an allowance based upon expected credit losses of outstanding receivables. Management derives its estimate using a variety of factors, including historical collection and loss patterns; the current aging of receivables; geographic and other customer-specific credit risk factors; and reasonable and supportable forecasts of future economic conditions which inform adjustments to historical loss patterns. The provision for expected credit losses is recorded in general and administrative expenses in the accompanying condensed consolidated statements of operations. Accounts receivable deemed to be uncollectible are written off, net of expected or actual recoveries.
Recently Adopted and Issued Accounting Pronouncements	Recently Adopted Accounting Pronouncements Adopted in 2024 There are no recently issued accounting pronouncements that were adopted by the Company during the six months ended June 30, 2024. Recently Issued Accounting Pronouncements Not Yet Adopted In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which aims to improve reportable segment disclosure requirements, primarily through additional disclosures about significant segment expenses and the chief operating decision maker. The standard will become effective for the Company’s fiscal year ended December 31, 2024, and interim periods during the fiscal year ended December 31, 2025, with early adoption permitted. The amendments should be applied retrospectively to all prior periods presented in the financial statements. The Company is currently assessing the potential impact of the new standard on the Company’s condensed consolidated financial statements. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which requires disclosure of disaggregated income taxes paid, prescribes standard categories for the components of the effective tax rate reconciliation, and modifies other income tax-related disclosures. The standard will become effective for the Company’s fiscal year ended December 31, 2025, with early adoption permitted. The Company is currently assessing the potential impact of the new standard on the Company’s condensed consolidated financial statements.
Strategic investments	The Company evaluates its strategic investments for impairment at each reporting period. This evaluation considers several potential qualitative and quantitative impairment indicators including, but not limited to, the investee's financial metrics, whether there were any significant adverse changes in the economic environment or general market conditions of the geographies and industries in which the investee operates, and any other publicly available information that may affect the value of the investment. The Company determined that qualitative indicators of impairment existed as of June 30, 2024, and therefore performed an assessment of the fair value of its investment.

Summary of significant accoun_3

Summary of significant accounting policies (Tables)	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Schedule of Allowance for Credit Losses	Balance at Beginning of Period Charged to Expenses Charges Utilized/Written-off, Net of Recoveries Balance at End of Period Allowance for credit losses (in thousands) Six Months Ended June 30, 2024 $ 1,270 $ 743 $ (1,081) $ 932 Six Months Ended June 30, 2023 $ 1,528 $ 1,011 $ (776) $ 1,763

Revenue recognition (Tables)

Revenue recognition (Tables)	6 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Deferred Revenue Balances by Reportable Segment	The below table presents a summary of deferred revenue balances by reportable segment (in thousands): June 30, December 31, December 31, 2024 2023 2022 Deferred revenue: Enterprise $ 254,541 $ 220,127 $ 219,030 Consumer 57,685 62,287 59,249 Total deferred revenue $ 312,226 $ 282,414 $ 278,279
Schedule of Deferred Contract Costs	The following table represents a roll forward of the Company’s deferred contract costs (in thousands): Balance at Beginning of Period Additions Amortization Expense Balance at End of Period Six Months Ended June 30, 2024 $ 74,374 $ 32,734 $ (28,642) $ 78,466 Six Months Ended June 30, 2023 $ 65,645 $ 30,036 $ (21,829) $ 73,852

Investments and fair value me_2

Investments and fair value measurements (Tables)	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Schedule of Investments on Condensed Consolidated Balance Sheets	The Company’s assets and liabilities that are measured at fair value on a recurring or nonrecurring basis within the fair value hierarchy are as follows (in thousands): As of June 30, 2024 Level 1 Level 2 Level 3 Current assets: Cash equivalents: Money market funds $ 234,681 $ — $ — Marketable securities: U.S. government securities $ — $ 148,559 $ — Non-current assets: Strategic investments $ — $ — $ — Non-current liabilities: Cash settled stock appreciation rights $ — $ — $ 16 As of December 31, 2023 Level 1 Level 2 Level 3 Current assets: Cash equivalents: Money market funds $ 266,692 $ — $ — Marketable securities: U.S. government securities $ — $ 171,372 $ — Non-current assets: Strategic investments $ — $ — $ 10,311 Non-current liabilities: Cash settled stock appreciation rights $ — $ — $ 48
Schedule of Investments on Condensed Consolidated Balance Sheets	The Company’s assets and liabilities that are measured at fair value on a recurring or nonrecurring basis within the fair value hierarchy are as follows (in thousands): As of June 30, 2024 Level 1 Level 2 Level 3 Current assets: Cash equivalents: Money market funds $ 234,681 $ — $ — Marketable securities: U.S. government securities $ — $ 148,559 $ — Non-current assets: Strategic investments $ — $ — $ — Non-current liabilities: Cash settled stock appreciation rights $ — $ — $ 16 As of December 31, 2023 Level 1 Level 2 Level 3 Current assets: Cash equivalents: Money market funds $ 266,692 $ — $ — Marketable securities: U.S. government securities $ — $ 171,372 $ — Non-current assets: Strategic investments $ — $ — $ 10,311 Non-current liabilities: Cash settled stock appreciation rights $ — $ — $ 48
Schedule of the Changes in the Fair Value of Level 3 Financial Instruments	A summary of the changes in the fair value of Level 3 financial instruments, of which vesting and remeasurement of stock appreciation rights (SARs) and impairment of strategic investments are recognized in the consolidated statements of operations, is as follows (in thousands): Stock Appreciation Rights Strategic Investments Balance— March 31, 2024 $ 22 $ 10,311 Vesting and remeasurement of SARs (6) — Unrealized loss on strategic investments — (10,311) Balance— June 30, 2024 $ 16 $ — Balance— March 31, 2023 $ 264 $ 12,104 Vesting and remeasurement of SARs 19 — Exercises of SARs (253) — Unrealized loss on strategic investments — (1,793) Balance— June 30, 2023 $ 30 $ 10,311 Balance— December 31, 2023 $ 48 $ 10,311 Vesting and remeasurement of SARs (25) — Exercises of SARs (7) — Unrealized loss on strategic investments — (10,311) Balance— June 30, 2024 $ 16 $ — Balance— December 31, 2022 $ 462 $ 12,104 Vesting and remeasurement of SARs (179) — Exercises of SARs (253) — Unrealized loss on strategic investments — (1,793) Balance— June 30, 2023 $ 30 $ 10,311
Schedule of the Changes in the Fair Value of Level 3 Financial Instruments	A summary of the changes in the fair value of Level 3 financial instruments, of which vesting and remeasurement of stock appreciation rights (SARs) and impairment of strategic investments are recognized in the consolidated statements of operations, is as follows (in thousands): Stock Appreciation Rights Strategic Investments Balance— March 31, 2024 $ 22 $ 10,311 Vesting and remeasurement of SARs (6) — Unrealized loss on strategic investments — (10,311) Balance— June 30, 2024 $ 16 $ — Balance— March 31, 2023 $ 264 $ 12,104 Vesting and remeasurement of SARs 19 — Exercises of SARs (253) — Unrealized loss on strategic investments — (1,793) Balance— June 30, 2023 $ 30 $ 10,311 Balance— December 31, 2023 $ 48 $ 10,311 Vesting and remeasurement of SARs (25) — Exercises of SARs (7) — Unrealized loss on strategic investments — (10,311) Balance— June 30, 2024 $ 16 $ — Balance— December 31, 2022 $ 462 $ 12,104 Vesting and remeasurement of SARs (179) — Exercises of SARs (253) — Unrealized loss on strategic investments — (1,793) Balance— June 30, 2023 $ 30 $ 10,311

Consolidated balance sheet co_2

Consolidated balance sheet components (Tables)	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Cash, Cash Equivalents, and Marketable Securities	The amortized cost, unrealized gains and losses, and estimated fair value of cash, cash equivalents, and marketable securities consisted of the following (in thousands): As of June 30, 2024 Amortized Cost Unrealized Gains Unrealized Losses Fair Value Cash and cash equivalents: Cash $ 37,683 $ — $ — $ 37,683 Money market funds 234,681 — — 234,681 Total cash and cash equivalents 272,364 — — 272,364 Marketable securities: U.S. government securities 148,575 3 (19) 148,559 Total cash, cash equivalents, and marketable securities $ 420,939 $ 3 $ (19) $ 420,923 As of December 31, 2023 Amortized Cost Unrealized Gains Unrealized Losses Fair Value Cash and cash equivalents: Cash $ 38,872 $ — $ — $ 38,872 Money market funds 266,692 — — 266,692 Total cash and cash equivalents 305,564 — — 305,564 Marketable securities: U.S. government securities 171,296 76 — 171,372 Total cash, cash equivalents, and marketable securities $ 476,860 $ 76 $ — $ 476,936 Cash equivalents and marketable securities in an unrealized loss position consisted of the following (in thousands): June 30, 2024 December 31, 2023 Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Marketable securities: U.S. government securities $ 127,651 $ (19) $ — $ — Total securities in an unrealized loss position $ 127,651 $ (19) $ — $ —
Schedule of Property and Equipment, Net	Property and equipment, net consisted of the following (in thousands): June 30, December 31, 2024 2023 Leasehold improvements $ 19,064 $ 19,064 Computers and equipment 8,408 7,770 Furniture and fixtures 4,713 4,705 Purchased software 383 383 Construction in progress 62 — Total property and equipment 32,630 31,922 Less accumulated depreciation and amortization (28,788) (27,483) Property and equipment, net $ 3,842 $ 4,439
Schedule of Capitalized Software, Net	Capitalized software, net consisted of the following (in thousands): June 30, December 31, 2024 2023 Capitalized software $ 96,424 $ 85,160 Less accumulated amortization (63,541) (53,772) Capitalized software, net $ 32,883 $ 31,388
Schedule of Expected Amortization Expense	As of June 30, 2024, expected amortization expense for capitalized software over the remaining asset lives was as follows (in thousands): Remainder of 2024 $ 9,475 2025 14,663 2026 7,604 2027 1,141 Total expected amortization $ 32,883 The expected future amortization expense for intangible assets as of June 30, 2024 was as follows (in thousands): Remainder of 2024 $ 886 2025 917 2026 917 2027 594 Total expected amortization $ 3,314
Schedule of Intangible Assets Acquired through Business Combination	Intangible assets, net and goodwill— As of June 30, 2024, intangible assets, net acquired as part of the CorpU business combination were as follows (in thousands): Estimated Useful Lives Intangible Assets, Gross Accumulated Amortization Intangible Assets, Net Customer relationships 6 years $ 5,500 $ (2,615) $ 2,885 Vendor relationships 3 years 4,500 (4,278) 222 Developed technology 3 years 4,200 (3,993) 207 Tradename 2 years 900 (900) — Total $ 15,100 $ (11,786) $ 3,314 As of December 31, 2023, intangible assets, net acquired as part of the CorpU business combination were as follows (in thousands): Estimated Useful Lives Intangible Assets, Gross Accumulated Amortization Intangible Assets, Net Customer relationships 6 years $ 5,500 $ (2,156) $ 3,344 Vendor relationships 3 years 4,500 (3,528) 972 Developed technology 3 years 4,200 (3,293) 907 Tradename 2 years 900 (900) — Total $ 15,100 $ (9,877) $ 5,223
Schedule of Accrued Expenses and Other Current Liabilities	Accrued expenses and other current liabilities — Accrued expenses and other current liabilities consisted of the following (in thousands): June 30, December 31, 2024 2023 Accrued expenses $ 22,865 $ 13,773 Indirect tax reserves 1,816 1,432 Indirect tax payables 7,208 8,758 Other current liabilities 2,941 3,815 Accrued expenses and other current liabilities $ 34,830 $ 27,778

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2024
Leases [Abstract]
Schedule of Information Pertaining to Operating Leases	The components of lease costs, supplemental cash flow information, lease term, and discount rate for operating leases are as follows (in thousands, except for percentages and years): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Operating lease costs $ 1,255 $ 1,564 $ 2,805 $ 3,234 Variable lease costs $ 308 $ 231 $ 553 $ 545 Cash paid for amounts included in the measurement of operating lease liabilities $ 3,673 $ 3,697 June 30, December 31, 2024 2023 Weighted average remaining term (years) 3.7 1.3 Weighted average discount rate 5.7 % 3.9 %
Schedule of Future Minimum Lease Payments	Future minimum lease payments (net of expected tenant incentives) under noncancellable operating leases with initial lease terms in excess of one year as of June 30, 2024, were as follows (in thousands): Remainder of 2024 $ 2,349 2025 2,927 2026 4,009 2027 2,231 2028 2,298 2029 1,166 Gross lease payments 14,980 Less imputed interest (1,899) Present value of operating lease liabilities $ 13,081

Stockholders' equity (Tables)

Stockholders' equity (Tables)	6 Months Ended
	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Common Stock Reserved for Future Issuance	Shares of common stock reserved for future issuance consisted of the following: June 30, December 31, 2024 2023 2010 Equity Incentive Plan: Stock options outstanding 2,417,020 4,621,021 2021 Equity Incentive Plan: RSUs outstanding and PSUs (1) 18,817,070 16,738,309 Shares available for future issuance under: 2021 Equity Incentive Plan 9,357,028 4,093,695 2021 Employee Stock Purchase Plan 3,374,376 2,350,803 Total shares of common stock reserved 33,965,494 27,803,828 (1) For those PSUs in their respective performance periods, the number of shares reserved for issuance is based on the maximum achievement of the corporate performance metrics.
Schedule of RSU and PSU Activity	A summary of RSU and PSU activity under the 2021 Plan is as follows: RSUs Outstanding Weighted Average Grant Date Fair Value PSUs Outstanding (1) Weighted Average Grant Date Fair Value Unvested - December 31, 2023 15,769,577 $ 14.07 645,833 $ 8.89 Granted 6,316,311 10.04 553,568 10.98 Released (3,241,601) 15.19 (140,684) 8.89 Canceled (1,127,093) 14.80 (235,596) 8.89 Unvested - June 30, 2024 17,717,194 $ 12.39 823,121 $ 10.30 Awards vested, not yet released - June 30, 2024 8,276 $ 9.66 — $ — (1) Canceled PSU shares consist of awards forfeited as well as the difference in the number of shares granted at target in 2023 and the shares certified by the Board based on actual achievement.
Schedule of Option Activity	The following is a summary of activity for stock options having only service-based vesting conditions under the Equity Incentive Plans: Options Outstanding Weighted Average Exercise Price Weighted Average Remaining Contractual Term Aggregate Intrinsic Value Balance - December 31, 2023 4,571,021 $ 5.08 3.23 $ 44,309 Granted — — Exercised (2,146,724) 5.59 Canceled (57,277) 8.15 Balance - June 30, 2024 2,367,020 $ 4.54 4.92 $ 10,317 Vested & expected to vest as of June 30, 2024 2,367,020 $ 4.54 4.92 $ 10,317 Exercisable as of June 30, 2024 2,353,087 $ 4.48 4.91 $ 10,317
Schedule of Weighted Average Assumptions, Options	The following table summarizes the weighted-average assumptions used in the Black-Scholes option-pricing model to estimate the fair value of employee stock purchase rights granted under the new ESPP offering period: Three and Six Months Ended June 30, 2024 Risk-free interest rate 5.1 % Expected volatility 51.9 % Expected life (in years) 1.3 Expected dividend yield — %
Schedule of Stock-Based Compensation Expense	Total stock-based compensation expense included in the condensed consolidated statements of operations was as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Cost of revenue $ 1,813 $ 1,749 $ 3,470 $ 3,342 Sales and marketing 7,664 8,099 15,005 15,376 Research and development 7,329 6,423 14,004 12,717 General and administrative 7,511 6,890 14,543 16,801 Restructuring charges — — — 1,208 Total stock-based compensation expense $ 24,317 $ 23,161 $ 47,022 $ 49,444

Net loss per share (Tables)

Net loss per share (Tables)	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Schedule of Net Earnings (Loss) per Share	The following table presents the calculation of basic and diluted net loss per share (in thousands, except share and per share amounts): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Numerator: Net loss $ (31,814) $ (25,735) $ (50,153) $ (70,279) Denominator: Weighted-average shares used in computing net loss per share Basic and diluted 152,987,927 148,071,315 154,779,176 146,910,959 Net loss per share Basic and diluted $ (0.21) $ (0.17) $ (0.32) $ (0.48)
Schedule of Potentially Dilutive Securities Excluded from Computation of Diluted Net Loss per Share	The following potentially dilutive securities were excluded from the computation of diluted net loss per share calculations, because the impact of including them would have been anti-dilutive: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 RSUs, PSUs, and restricted stock 18,187,009 18,297,774 18,187,009 18,297,774 Stock options 2,417,020 8,836,101 2,417,020 8,836,101 Contingently issuable shares under ESPP 150,511 159,077 150,511 159,077 Total potentially dilutive securities 20,754,540 27,292,952 20,754,540 27,292,952

Segment and geographic inform_2

Segment and geographic information (Tables)	6 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
Schedule of Financial Information by Each Reportable Segment	Financial information for each reportable segment was as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Revenue Enterprise $ 120,556 $ 101,619 $ 238,196 $ 196,861 Consumer 73,804 76,621 153,010 157,809 Total revenue 194,360 178,240 391,206 354,670 Segment cost of revenue Enterprise 33,316 33,952 66,314 66,819 Consumer 32,299 35,132 68,297 72,628 Total segment cost of revenue 65,615 69,084 134,611 139,447 Segment gross profit Enterprise 87,240 67,667 171,882 130,042 Consumer 41,505 41,489 84,713 85,181 Total segment gross profit 128,745 109,156 256,595 215,223 Reconciliation of segment gross profit to gross profit Amortization of capitalized software 4,978 4,270 9,769 8,173 Amortization of intangible assets 725 725 1,450 1,450 Depreciation 113 111 226 228 Stock-based compensation 1,813 1,748 3,470 3,342 Total reconciling items 7,629 6,854 14,915 13,192 Total gross profit $ 121,116 $ 102,302 $ 241,680 $ 202,031
Schedule of Revenue by Region	The following table summarizes the revenue by region based on the billing address of the Company’s customers (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 North America $ 77,271 $ 71,814 $ 154,492 $ 143,521 Europe, Middle East, Africa 58,912 54,540 120,269 109,091 Asia Pacific 44,334 39,342 89,212 77,501 Latin America 13,843 12,544 27,233 24,557 Total revenue $ 194,360 $ 178,240 $ 391,206 $ 354,670
Schedule of Long-lived Assets by Region	The following table presents the Company’s long-lived assets, which consist of tangible property and equipment, net of depreciation, and operating lease ROU assets, by geographic region (in thousands): June 30, December 31, 2024 2023 United States $ 10,555 $ 7,007 Rest of world 6,031 3,109 Total long-lived assets $ 16,586 $ 10,116

Summary of significant accoun_4

Summary of significant accounting policies - Narrative (Details) - segment	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Accounting Policies [Abstract]
Number of operating segments	2	2	2	2
Number of reportable segments	2	2	2	2

Summary of significant accoun_5

Summary of significant accounting policies - Schedule of Allowance for Credit Losses (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance at Beginning of Period	$ 1,270	$ 1,528
Charged to Expenses	743	1,011
Charges Utilized/Written-off, Net of Recoveries	(1,081)	(776)
Balance at End of Period	$ 932	$ 1,763

Revenue recognition - Narrative

Revenue recognition - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Contract with customer, liability, revenue recognized	$ 152.6	$ 135.2	$ 213.6	$ 200.5
Remaining performance obligation, amount	$ 557.4		$ 557.4
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, percentage	73%		73%
Revenue, remaining performance obligation, period	12 months		12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, percentage	27%		27%
Revenue, remaining performance obligation, period

Revenue recognition - Summary o

Revenue recognition - Summary of Deferred Revenue Balances by Reportable Segment (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023	Dec. 31, 2022
Disaggregation of Revenue [Line Items]
Total deferred revenue	$ 312,226	$ 282,414	$ 278,279
Enterprise
Disaggregation of Revenue [Line Items]
Total deferred revenue	254,541	220,127	219,030
Consumer
Disaggregation of Revenue [Line Items]
Total deferred revenue	$ 57,685	$ 62,287	$ 59,249

Revenue recognition - Summary_2

Revenue recognition - Summary of Deferred Contract Costs (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Deferred contract costs [Roll Forward]
Balance at Beginning of Period	$ 74,374	$ 65,645
Additions	32,734	30,036
Amortization Expense	(28,642)	(21,829)
Balance at End of Period	$ 78,466	$ 73,852

Investments and fair value me_3

Investments and fair value measurements - Schedule of Investments on Condensed Consolidated Balance Sheets (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Current assets:
Fair Value	$ 272,364	$ 305,564
Strategic investments	0	10,311
U.S. government securities
Current assets:
Marketable securities:	148,559	171,372
Money market funds
Current assets:
Fair Value	234,681	266,692
Level 1
Current assets:
Strategic investments	0	0
Non-current liabilities:
Cash settled stock appreciation rights	0	0
Level 1 | U.S. government securities
Current assets:
Marketable securities:	0	0
Level 1 | Money market funds
Current assets:
Fair Value	234,681	266,692
Level 2
Current assets:
Strategic investments	0	0
Non-current liabilities:
Cash settled stock appreciation rights	0	0
Level 2 | U.S. government securities
Current assets:
Marketable securities:	148,559	171,372
Level 2 | Money market funds
Current assets:
Fair Value	0	0
Level 3
Current assets:
Strategic investments	0	10,311
Non-current liabilities:
Cash settled stock appreciation rights	16	48
Level 3 | U.S. government securities
Current assets:
Marketable securities:	0	0
Level 3 | Money market funds
Current assets:
Fair Value	$ 0	$ 0

Investments and fair value me_4

Investments and fair value measurements - Summary of the Changes in the Fair Value of Level 3 Financial Instruments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Strategic Investments
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 10,311	$ 12,104	$ 10,311	$ 12,104
Vesting and remeasurement of SARs	0	0	0	0
Exercises of SARs		0	0	0
Unrealized loss on strategic investments	(10,311)	(1,793)	(10,311)	(1,793)
Ending balance	0	10,311	0	10,311
Stock Appreciation Rights (SARs)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	22	264	48	462
Vesting and remeasurement of SARs	(6)	19	(25)	(179)
Exercises of SARs		(253)	(7)	(253)
Unrealized loss on strategic investments	0	0	0	0
Ending balance	$ 16	$ 30	$ 16	$ 30

Investments and fair value me_5

Investments and fair value measurements - Narrative (Details) - USD ($) $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Sep. 30, 2022	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Impairment of strategic investment	$ 10.3	$ 1.8	$ 2.9	$ 10.3
Strategic investment’s cost basis	$ 15			$ 15

Consolidated balance sheet co_3

Consolidated balance sheet components - Schedule of Cash, Cash Equivalents, and Marketable Securities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents, Amortized Costs	$ 272,364	$ 305,564	$ 323,227
Cash and cash equivalents, Fair Value	272,364	305,564
Marketable securities, Unrealized Gains	3	76
Marketable securities, Unrealized Losses	(19)	0
Total cash, cash equivalents, and marketable securities, Amortized Cost	420,939	476,860
Total cash, cash equivalents, and marketable securities, Fair Value	420,923	476,936
Unrealized loss position, fair value	127,651	0
Cash
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents, Amortized Costs	37,683	38,872
Cash and cash equivalents, Fair Value	37,683	38,872
Money market funds
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents, Amortized Costs	234,681	266,692
Cash and cash equivalents, Fair Value	234,681	266,692
U.S. government securities
Cash and Cash Equivalents [Line Items]
Marketable securities, Amortized Cost	148,575	171,296
Marketable securities, Unrealized Gains	3	76
Marketable securities, Unrealized Losses	(19)	0
Marketable securities, Fair Value	148,559	171,372
Unrealized loss position, fair value	$ 127,651	$ 0

Consolidated balance sheet co_4

Consolidated balance sheet components - Narrative (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024 USD ($) security	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($) security	Jun. 30, 2023 USD ($)	Dec. 31, 2023 USD ($) security	Aug. 24, 2021 USD ($)
Acquired Finite-Lived Intangible Assets [Line Items]
Realized gains and losses reclassified from accumulated other comprehensive loss to other income (expense), net	$ 0	$ 0	$ 0	$ 0
Number of continuous unrealized loss position for twelve months or longer | security	0		0		0
Depreciation	$ 800	800	$ 1,500	1,600
Amortization of capitalized software	5,000	4,300	9,800	8,200
Amortization of intangible assets	1,000	$ 1,000	1,900	$ 2,100
Goodwill	$ 12,646		$ 12,646		$ 12,646
CorpU
Acquired Finite-Lived Intangible Assets [Line Items]
Goodwill						$ 12,600

Consolidated balance sheet co_5

Consolidated balance sheet components - Schedule of Property and Equipment, Net (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 32,630	$ 31,922
Less accumulated depreciation and amortization	(28,788)	(27,483)
Property and equipment, net	3,842	4,439
Leasehold improvements
Property, Plant and Equipment [Line Items]
Total property and equipment	19,064	19,064
Computers and equipment
Property, Plant and Equipment [Line Items]
Total property and equipment	8,408	7,770
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Total property and equipment	4,713	4,705
Purchased software
Property, Plant and Equipment [Line Items]
Total property and equipment	383	383
Construction in progress
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 62	$ 0

Consolidated balance sheet co_6

Consolidated balance sheet components - Schedule of Capitalized Software, Net (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Capitalized software	$ 96,424	$ 85,160
Less accumulated amortization	(63,541)	(53,772)
Total expected amortization	$ 32,883	$ 31,388

Consolidated balance sheet co_7

Consolidated balance sheet components - Schedule of Expected Amortization Expense (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Remainder of 2024	$ 9,475
2025	14,663
2026	7,604
2027	1,141
Total expected amortization	$ 32,883	$ 31,388

Consolidated balance sheet co_8

Consolidated balance sheet components - Schedule of Intangible Assets Acquired through Business Combination (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Acquired Finite-Lived Intangible Assets [Line Items]
Intangible Assets, Gross	$ 15,100	$ 15,100
Accumulated Amortization	(11,786)	(9,877)
Total expected amortization	$ 3,314	$ 5,223
Customer relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Estimated Useful Lives	6 years	6 years
Intangible Assets, Gross	$ 5,500	$ 5,500
Accumulated Amortization	(2,615)	(2,156)
Total expected amortization	$ 2,885	$ 3,344
Vendor relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Estimated Useful Lives	3 years	3 years
Intangible Assets, Gross	$ 4,500	$ 4,500
Accumulated Amortization	(4,278)	(3,528)
Total expected amortization	$ 222	$ 972
Developed technology
Acquired Finite-Lived Intangible Assets [Line Items]
Estimated Useful Lives	3 years	3 years
Intangible Assets, Gross	$ 4,200	$ 4,200
Accumulated Amortization	(3,993)	(3,293)
Total expected amortization	$ 207	$ 907
Tradename
Acquired Finite-Lived Intangible Assets [Line Items]
Estimated Useful Lives	2 years	2 years
Intangible Assets, Gross	$ 900	$ 900
Accumulated Amortization	(900)	(900)
Total expected amortization	$ 0	$ 0

Consolidated balance sheet co_9

Consolidated balance sheet components - Schedule of Expected Amortization Expense (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Remainder of 2024	$ 886
2025	917
2026	917
2027	594
Total expected amortization	$ 3,314	$ 5,223

Consolidated balance sheet c_10

Consolidated balance sheet components - Schedule Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accrued expenses	$ 22,865	$ 13,773
Indirect tax reserves	1,816	1,432
Indirect tax payables	7,208	8,758
Other current liabilities	2,941	3,815
Accrued Expenses And Other Liabilities, Current	$ 34,830	$ 27,778

Leases - Narrative (Details)

Leases - Narrative (Details) $ in Millions	3 Months Ended
	Jun. 30, 2024 USD ($)
Leases [Abstract]
Operating lease, right-of-use asset, addition	$ 9.8
Renewal option term	5 years
Lessee, tenant improvements allowance	$ (2.1)
Amount of cash restricted certain renewed lease agreements	$ (2.5)

Leases - Schedule of Informatio

Leases - Schedule of Information Pertaining to Operating Leases (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Leases [Abstract]
Operating lease costs	$ 1,255	$ 1,564	$ 2,805	$ 3,234
Variable lease costs	308	231	553	545
Cash paid for amounts included in the measurement of operating lease liabilities			$ 3,673	$ 3,697
Weighted average remaining term (years)	3 years 8 months 12 days		3 years 8 months 12 days		1 year 3 months 18 days
Weighted average discount rate	5.70%		5.70%		3.90%

Leases - Schedule of Future Min

Leases - Schedule of Future Minimum Lease Payments (Details) $ in Thousands	Jun. 30, 2024 USD ($)
Leases [Abstract]
Remainder of 2024	$ 2,349
2025	2,927
2026	4,009
2027	2,231
2028	2,298
2029	1,166
Gross lease payments	14,980
Less imputed interest	(1,899)
Present value of operating lease liabilities	$ 13,081

Commitments and contingencies -

Commitments and contingencies - Narrative (Details) $ in Millions	Jun. 30, 2024 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Future minimum payments	$ 42

Income taxes - Narrative (Detai

Income taxes - Narrative (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Effective income tax rate, percent	(2.59%)	(4.28%)	(3.78%)	(3.10%)

Related party transactions (Det

Related party transactions (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Related Party Transaction [Line Items]
Revenue	$ 194,360	$ 178,240	$ 391,206	$ 354,670
Accounts receivable, net	82,078		82,078		$ 92,555
General and administrative	27,264	22,623	52,033	48,957
Accounts payable	3,670		$ 3,670		2,506
Naspers
Related Party Transaction [Line Items]
Ownership percentage			5%
Affiliated Entity | Naspers Ltd. and Other Entity
Related Party Transaction [Line Items]
Revenue	400	400	$ 800	700
Affiliated Entity | Certain Vendors
Related Party Transaction [Line Items]
General and administrative	200	100	400	300
Accounts payable	0		0		0
Board of Directors | Naspers Ltd. and Other Entity
Related Party Transaction [Line Items]
Accounts receivable, net	0		0		0
Board of Directors | Insight Partners
Related Party Transaction [Line Items]
Revenue	200		400
Accounts receivable, net	0		0		200
Board of Directors | Enterprise Subscription Offering
Related Party Transaction [Line Items]
Revenue	100	$ 100	200	$ 200
Accounts receivable, net	$ 0		$ 0		$ 400

Stockholders' equity - Narrativ

Stockholders' equity - Narrative (Details) $ / shares in Units, $ in Thousands		1 Months Ended	3 Months Ended				6 Months Ended
	Jan. 01, 2024 shares	Feb. 29, 2024 shares	Jun. 30, 2024 USD ($) $ / shares shares	Mar. 31, 2024 shares	Jun. 30, 2023 USD ($)	Mar. 31, 2023 shares	Jun. 30, 2024 USD ($) vote $ / shares shares	Jun. 30, 2023 USD ($)	May 02, 2024 USD ($)	Feb. 14, 2024 USD ($)	Dec. 31, 2023 $ / shares shares	Oct. 29, 2021 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Preferred stock, shares authorized (in shares)			50,000,000				50,000,000				50,000,000
Preferred stock, par value (in dollars per share) | $ / shares			$ 0.00001				$ 0.00001				$ 0.00001
Preferred stock, shares outstanding (in shares)			0				0				0
Preferred stock, shares issued (in shares)			0				0				0
Number of votes per common stock | vote							1
Share repurchase program, shares authorized | $									$ 150,000	$ 100,000
Extension repurchase program | $									$ 50,000
Repurchases of common stock (in shares)			3,790,193				8,752,338
Repurchases of common stock | $			$ 35,601				$ 91,112
Total shares of common stock reserved (in shares)			33,965,494				33,965,494				27,803,828
Stock-based compensation capitalized as a software | $			$ 2,200		$ 2,400		$ 4,500	$ 4,700
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)							6,316,311
Unrecognized compensation costs, excluding options | $			$ 196,100				$ 196,100
Unrecognized compensation costs, period for recognition (in years)							2 years 9 months 18 days
Performance-Based Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares right to receive (in shares)							1
Granted (in shares)		450,170		553,568		645,833	553,568
Award vesting rights, percentage		75%		75%
Corporate performance metric attainment percentage			0.40				0.40
Authorized attainment percentage of shares issued		70%
Unrecognized compensation costs, excluding options | $			$ 2,900				$ 2,900
Unrecognized compensation costs, period for recognition (in years)							1 year 9 months 18 days
Performance-Based Awards | Share-based Payment Arrangement, Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage							25%
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)							4 years
Contractual term (in years)							10 years
Stock options outstanding (in shares)			2,417,020				2,417,020				4,621,021
Stock Appreciation Rights (SARs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercised (in shares)							1,558
Exercised (in dollars per share) | $ / shares							$ 6.58
SARs outstanding (in shares)			3,000				3,000
Contingently issuable shares under ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation costs, excluding options | $			$ 5,900				$ 5,900
Unrecognized compensation costs, period for recognition (in years)							1 year 2 months 12 days
Total shares of common stock reserved (in shares)	1,571,663											2,800,000
Minimum annual increase in shares reserved for issuance							1%
Percent of outstanding shares							300%
Shares issued (in shares)							554,039
Minimum | Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)							3 years
Minimum | Performance-Based Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage				0%
Maximum | Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)							4 years
Maximum | Performance-Based Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage				150%
2021 Stock incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares reserved for future issuance (in shares)			13,800,000				13,800,000
Annual percentage increase, term							0.05
Number of shares reserved for future issuance increased (in shares)	7,858,318
Stock options outstanding (in shares)			2,367,020				2,367,020				4,571,021
Exercisable, awards outstanding (in shares)			2,353,087				2,353,087
Amended and Restated 2010 Equity Incentive Plan | Performance-Based Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options outstanding (in shares)			50,000				50,000
Exercisable, awards outstanding (in shares)			32,291				32,291

Stockholders' equity - Schedule

Stockholders' equity - Schedule of Common Stock Reserved for Future Issuance (Details) - shares	Jun. 30, 2024	Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total shares of common stock reserved (in shares)	33,965,494	27,803,828
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options outstanding (in shares)	2,417,020	4,621,021
Restricted Stock Units RSU and Performance Shares Units PSU
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSUs outstanding and PSUs (in shares)	18,817,070	16,738,309
2021 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options available for future issuance (in shares)	9,357,028	4,093,695
2021 Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options available for future issuance (in shares)	3,374,376	2,350,803

Stockholders' equity - RSU and

Stockholders' equity - RSU and PSU Activity (Details) - $ / shares	1 Months Ended	3 Months Ended		6 Months Ended
	Feb. 29, 2024	Mar. 31, 2024	Mar. 31, 2023	Jun. 30, 2024
Restricted Stock Units (RSUs)
Outstanding
Unvested beginning balance (in shares)		15,769,577		15,769,577
Granted (in shares)				6,316,311
Released (in shares)				(3,241,601)
Canceled (in shares)				(1,127,093)
Unvested ending balance (in shares)				17,717,194
Weighted Average Grant Date Fair Value
Unvested beginning balance (in dollars per share)		$ 14.07		$ 14.07
Granted (in dollars per share)				10.04
Released (in dollars per share)				15.19
Canceled (in dollars per share)				14.80
Unvested ending balance (in dollars per share)				$ 12.39
Awards vested, not yet released (in shares)				8,276
Awards vested, not yet released (in dollars per share)				$ 9.66
Performance-Based Awards
Outstanding
Unvested beginning balance (in shares)		645,833		645,833
Granted (in shares)	450,170	553,568	645,833	553,568
Released (in shares)				(140,684)
Canceled (in shares)				(235,596)
Unvested ending balance (in shares)				823,121
Weighted Average Grant Date Fair Value
Unvested beginning balance (in dollars per share)		$ 8.89		$ 8.89
Granted (in dollars per share)				10.98
Released (in dollars per share)				8.89
Canceled (in dollars per share)				8.89
Unvested ending balance (in dollars per share)				$ 10.30
Awards vested, not yet released (in shares)				0
Awards vested, not yet released (in dollars per share)				$ 0

Stockholders' equity - Schedu_2

Stockholders' equity - Schedule of Stock Option Activity (Details) - 2021 Stock incentive Plan $ / shares in Units, $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2024 USD ($) $ / shares shares	Dec. 31, 2023 USD ($) $ / shares shares
Options Outstanding
Outstanding, beginning balance (in shares) | shares	4,571,021
Granted (in shares) | shares	0
Exercised (in shares) | shares	(2,146,724)
Canceled (in shares) | shares	(57,277)
Outstanding, ending balance (in shares) | shares	2,367,020	4,571,021
Vested & expected to vest, awards outstanding (in shares) | shares	2,367,020
Exercisable, awards outstanding (in shares) | shares	2,353,087
Weighted Average Exercise Price
Outstanding, beginning balance (in dollars per share) | $ / shares	$ 5.08
Granted (in dollars per share) | $ / shares	0
Exercised (in dollars per share) | $ / shares	5.59
Canceled (in dollars per share) | $ / shares	8.15
Outstanding, ending balance (in dollars per share) | $ / shares	4.54	$ 5.08
Vested & expected to vest, weighted average exercise price (in dollars per share) | $ / shares	4.54
Exercisable, weighted average exercise price (in dollars per share) | $ / shares	$ 4.48
Outstanding, weighted average remaining contractual term	4 years 11 months 1 day	3 years 2 months 23 days
Outstanding, aggregate intrinsic value | $	$ 10,317	$ 44,309
Vested & expected to vest, weighted average remaining contractual term	4 years 11 months 1 day
Vested & expected to vest, aggregate intrinsic value | $	$ 10,317
Exercisable, weighted average remaining contractual term	4 years 10 months 28 days
Exercisable, aggregate intrinsic value | $	$ 10,317

Stockholders' equity - Summary

Stockholders' equity - Summary of Weighted Average Assumptions, Options (Details) - Contingently issuable shares under ESPP	3 Months Ended	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	5.10%	5.10%
Expected volatility	51.90%	51.90%
Expected life (in years)	1 year 3 months 18 days	1 year 3 months 18 days
Expected dividend yield	0%	0%

Stockholders' equity - Stock-Ba

Stockholders' equity - Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	$ 24,317	$ 23,161	$ 47,022	$ 49,444
Cost of revenue
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	1,813	1,749	3,470	3,342
Sales and marketing
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	7,664	8,099	15,005	15,376
Research and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	7,329	6,423	14,004	12,717
General and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	7,511	6,890	14,543	16,801
Restructuring charges
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	$ 0	$ 0	$ 0	$ 1,208

Net loss per share - Summary of

Net loss per share - Summary of Net Earnings (Loss) per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Numerator:
Net loss	$ (31,814)	$ (25,735)	$ (50,153)	$ (70,279)
Weighted-average shares used in computing net loss per share
Basic (in shares)	152,987,927	148,071,315	154,779,176	146,910,959
Diluted (in shares)	152,987,927	148,071,315	154,779,176	146,910,959
Net loss per share
Basic (in dollars per share)	$ (0.21)	$ (0.17)	$ (0.32)	$ (0.48)
Diluted (in dollars per share)	$ (0.21)	$ (0.17)	$ (0.32)	$ (0.48)

Net loss per share - Summary _2

Net loss per share - Summary of Potentially Dilutive Securities Excluded from Computation of Diluted Net Loss per Share (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total potentially dilutive securities (in shares)	20,754,540	27,292,952	20,754,540	27,292,952
RSUs, PSUs, and restricted stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total potentially dilutive securities (in shares)	18,187,009	18,297,774	18,187,009	18,297,774
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total potentially dilutive securities (in shares)	2,417,020	8,836,101	2,417,020	8,836,101
Contingently issuable shares under ESPP
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total potentially dilutive securities (in shares)	150,511	159,077	150,511	159,077

Segment and geographic inform_3

Segment and geographic information - Narrative (Details) - segment	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Segment Reporting [Abstract]
Number of operating segments	2	2	2	2
Number of reportable segments	2	2	2	2

Segment and geographic inform_4

Segment and geographic information - Schedule of Financial Information by Each Reportable Segment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Segment Reporting Information [Line Items]
Revenue	$ 194,360	$ 178,240	$ 391,206	$ 354,670
Segment cost of revenue	73,244	75,938	149,526	152,639
Gross profit	121,116	102,302	241,680	202,031
Reconciliation of segment gross profit to gross profit
Amortization of capitalized software	5,000	4,300	9,800	8,200
Amortization of intangible assets	1,000	1,000	1,900	2,100
Depreciation	800	800	1,500	1,600
Stock-based compensation	24,317	23,161	47,022	49,444
Gross profit	121,116	102,302	241,680	202,031
Operating Segments
Segment Reporting Information [Line Items]
Revenue	194,360	178,240	391,206	354,670
Segment cost of revenue	65,615	69,084	134,611	139,447
Gross profit	128,745	109,156	256,595	215,223
Reconciliation of segment gross profit to gross profit
Gross profit	128,745	109,156	256,595	215,223
Segment Reconciling Items
Segment Reporting Information [Line Items]
Gross profit	7,629	6,854	14,915	13,192
Reconciliation of segment gross profit to gross profit
Amortization of capitalized software	4,978	4,270	9,769	8,173
Amortization of intangible assets	725	725	1,450	1,450
Depreciation	113	111	226	228
Stock-based compensation	1,813	1,748	3,470	3,342
Gross profit	7,629	6,854	14,915	13,192
Enterprise | Operating Segments
Segment Reporting Information [Line Items]
Revenue	120,556	101,619	238,196	196,861
Segment cost of revenue	33,316	33,952	66,314	66,819
Gross profit	87,240	67,667	171,882	130,042
Reconciliation of segment gross profit to gross profit
Gross profit	87,240	67,667	171,882	130,042
Consumer | Operating Segments
Segment Reporting Information [Line Items]
Revenue	73,804	76,621	153,010	157,809
Segment cost of revenue	32,299	35,132	68,297	72,628
Gross profit	41,505	41,489	84,713	85,181
Reconciliation of segment gross profit to gross profit
Gross profit	$ 41,505	$ 41,489	$ 84,713	$ 85,181

Segment and geographic inform_5

Segment and geographic information - Schedule of Revenue by Region (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Segment Reporting Information [Line Items]
Total revenue	$ 194,360	$ 178,240	$ 391,206	$ 354,670
North America
Segment Reporting Information [Line Items]
Total revenue	77,271	71,814	154,492	143,521
Europe, Middle East, Africa
Segment Reporting Information [Line Items]
Total revenue	58,912	54,540	120,269	109,091
Asia Pacific
Segment Reporting Information [Line Items]
Total revenue	44,334	39,342	89,212	77,501
Latin America
Segment Reporting Information [Line Items]
Total revenue	$ 13,843	$ 12,544	$ 27,233	$ 24,557

Segment and geographic inform_6

Segment and geographic information - Schedule of Long-lived Assets by Region (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Segment Reporting Information [Line Items]
Total long-lived assets	$ 16,586	$ 10,116
United States
Segment Reporting Information [Line Items]
Total long-lived assets	10,555	7,007
Rest of world
Segment Reporting Information [Line Items]
Total long-lived assets	$ 6,031	$ 3,109

Restructuring charges (Details)

Restructuring charges (Details) - USD ($) $ in Thousands		3 Months Ended			6 Months Ended
	Feb. 13, 2023	Jun. 30, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
Restructuring Cost and Reserve [Line Items]
Reduction in global workforce, percent	10%
Restructuring charges		$ 0	$ 135	$ 10,100	$ 0	$ 10,263
Employee Severance
Restructuring Cost and Reserve [Line Items]
Restructuring charges				8,900
Share-Based Payment Arrangement
Restructuring Cost and Reserve [Line Items]
Restructuring charges				$ 1,200

Subsequent events (Details)

Subsequent events (Details) - Subsequent Event $ in Millions	1 Months Ended
	Jul. 31, 2024 USD ($) shares
Subsequent Event [Line Items]
Shares repurchased and retired (in shares) | shares	1,961,639
Shares repurchased and retired, value | $	$ 16.8