ZipRecruiter (ZIP) 10-Q 9 May 23 2023 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2023	May 02, 2023
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2023
Document Transition Report	false
Entity File Number	001-40406
Entity Registrant Name	ZIPRECRUITER, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	27-2976158
Entity Address, Address Line One	604 Arizona Avenue
Entity Address, City or Town	Santa Monica
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	90401
City Area Code	877
Local Phone Number	252-1062
Title of 12(b) Security	Class A common stock, $0.00001 par value per share
Trading Symbol	ZIP
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0001617553
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
Amendment Flag	false
Common Class A
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		74,470,311
Common Class B
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		26,433,316

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Current assets
Cash and cash equivalents	$ 214,526	$ 227,380
Marketable securities	304,561	342,975
Accounts receivable, net of allowances of $4,619 and $3,693 at March 31, 2023 and December 31, 2022, respectively	36,262	44,421
Prepaid expenses and other assets	9,697	12,648
Deferred commissions, current portion	4,910	4,870
Total current assets	569,956	632,294
Property and equipment, net	7,828	8,103
Operating lease right-of-use assets	11,925	12,179
Internal-use software, net	16,737	15,758
Deferred commissions, net of current portion	4,704	4,813
Goodwill	1,724	1,724
Deferred tax assets, net	43,260	38,653
Other assets	973	1,039
Total assets	657,107	714,563
Current liabilities
Accounts payable	16,145	21,175
Accrued expenses	51,834	69,115
Accrued interest	5,935	12,837
Deferred revenue	19,486	19,580
Operating lease liabilities, current portion	5,392	5,429
Other current liabilities	4,362	1,527
Total current liabilities	103,154	129,663
Operating lease liabilities, net of current portion	12,291	13,018
Long-term borrowings	541,808	541,559
Other long-term liabilities	3,717	1,703
Total liabilities	660,970	685,943
Commitments and contingencies (Note 7)
Stockholders' equity (deficit)
Preferred Stock, $0.00001 par value; 50,000 shares authorized as of March 31, 2023 and December 31, 2022; no shares issued and outstanding as of March 31, 2023 and December 31, 2022	0	0
Class B treasury stock, 195 shares outstanding as of March 31, 2023 and December 31, 2022	(644)	(644)
Additional paid-in capital	0	35,926
Accumulated deficit	(3,008)	(6,290)
Accumulated other comprehensive loss	(212)	(373)
Total stockholders' equity (deficit)	(3,863)	28,620
Total liabilities and stockholders' equity (deficit)	657,107	714,563
Common Class A
Stockholders' equity (deficit)
Common stock	1	1
Common Class B
Stockholders' equity (deficit)
Common stock	$ 0	$ 0

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Current assets
Accounts receivable, allowance for credit loss, current	$ 4,619	$ 3,693
Stockholders' equity (deficit)
Preferred stock, par value (in dollars per share)	$ 0.00001	$ 0.00001
Preferred stock, authorized (in shares)	50,000,000	50,000,000
Preferred stock, issued (in shares)	0	0
Preferred stock, outstanding (in shares)	0	0
Treasury stock (in shares)	195,000	195,000
Common Class A
Stockholders' equity (deficit)
Common stock, par value (in dollars per share)	$ 0.00001	$ 0.00001
Common stock, authorized (in shares)	700,000,000	700,000,000
Common stock, issued (in shares)	75,659,000	74,320,000
Common stock, outstanding (in shares)	75,659,000	74,320,000
Common Class B
Stockholders' equity (deficit)
Common stock, par value (in dollars per share)	$ 0.00001	$ 0.00001
Common stock, authorized (in shares)	700,000,000	700,000,000
Common stock, issued (in shares)	26,629,000	30,379,000
Common stock, outstanding (in shares)	26,434,000	30,184,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Income Statement [Abstract]
Revenue	$ 183,749	$ 227,260
Cost of revenue	20,622	21,606
Gross profit	163,127	205,654
Operating expenses
Sales and marketing	88,352	137,590
Research and development	38,294	29,644
General and administrative	25,521	24,196
Total operating expenses	152,167	191,430
Income from operations	10,960	14,224
Other income (expense)
Interest expense	(7,341)	(6,285)
Other income (expense), net	5,022	(25)
Total other expense, net	(2,319)	(6,310)
Income before income taxes	8,641	7,914
Income tax expense (benefit)	3,630	(503)
Net income	$ 5,011	$ 8,417
Net income per share:
Basic (in dollars per share)	$ 0.05	$ 0.07
Diluted (in dollars per share)	$ 0.05	$ 0.07
Weighted average shares used in computing net income per share:
Basic (in shares)	104,261	118,806
Diluted (in shares)	109,984	127,050

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Statement of Comprehensive Income [Abstract]
Net income	$ 5,011	$ 8,417
Other comprehensive income, net of tax
Unrealized gains on available-for-sale debt securities	161	0
Total other comprehensive income	161	0
Total comprehensive income	$ 5,172	$ 8,417

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Changes in Stockholders’ Equity (Deficit) - USD ($) shares in Thousands, $ in Thousands	Total	Additional Paid-in Capital	Accumulated Deficit	Accumulated Other Comprehensive Loss	Common Class A Common Stock	Common Class B Common Stock	Common Class B Treasury Stock
Beginning balance (in shares) at Dec. 31, 2021					87,843	30,571
Beginning balance at Dec. 31, 2021	$ 234,968	$ 303,395	$ (67,784)	$ 0	$ 1	$ 0	$ (644)
Beginning balance (in shares) at Dec. 31, 2021							(195)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Conversion of Class B stock to Class A stock (in shares)					1,446	(1,446)
Issuance of common stock upon exercise of options (in shares)						1,180
Issuance of common stock upon exercise of options	2,078	2,078
Issuance of common stock upon the vesting and settlement of restricted stock units (in shares)					354	433
Stock-based compensation	21,112	21,112
Shares withheld related to net share settlement (in shares)					(133)	(181)
Shares withheld related to net share settlement	(5,902)	(5,902)
Stock issued under employee stock purchase plan (in shares)					290
Shares issued under employee stock purchase plan	5,293	5,293
Repurchase and retirement of common stock (in shares)					(2,420)	0
Repurchase and retirement of common stock	(62,349)	(62,349)
Net income	8,417		8,417
Other comprehensive income	0
Ending balance (in shares) at Mar. 31, 2022					87,380	30,557
Ending balance at Mar. 31, 2022	203,617	263,627	(59,367)	0	$ 1	$ 0	$ (644)
Ending balance (in shares) at Mar. 31, 2022							(195)
Beginning balance (in shares) at Dec. 31, 2022					74,320	30,379
Beginning balance at Dec. 31, 2022	28,620	35,926	(6,290)	(373)	$ 1	$ 0	$ (644)
Beginning balance (in shares) at Dec. 31, 2022							(195)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Conversion of Class B stock to Class A stock (in shares)					4,568	(4,568)
Issuance of common stock upon exercise of options (in shares)					6	658
Issuance of common stock upon exercise of options	1,298	1,298
Issuance of common stock upon the vesting and settlement of restricted stock units (in shares)					525	269
Stock-based compensation	22,088	22,088
Shares withheld related to net share settlement (in shares)					(191)	(109)
Shares withheld related to net share settlement	(4,511)	(4,511)
Stock issued under employee stock purchase plan (in shares)					237
Shares issued under employee stock purchase plan	4,221	4,221
Repurchase and retirement of common stock (in shares)					(3,806)
Repurchase and retirement of common stock	(60,292)	(59,022)	(1,270)
Share repurchase excise tax	(459)		(459)
Net income	5,011		5,011
Other comprehensive income	161			161
Ending balance (in shares) at Mar. 31, 2023					75,659	26,629
Ending balance at Mar. 31, 2023	$ (3,863)	$ 0	$ (3,008)	$ (212)	$ 1	$ 0	$ (644)
Ending balance (in shares) at Mar. 31, 2023							(195)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Cash flows from operating activities
Net income	$ 5,011	$ 8,417
Adjustments to reconcile net income to net cash provided by operating activities:
Stock-based compensation expense	21,571	20,494
Depreciation and amortization	2,731	2,485
Provision for bad debts	912	758
Deferred income taxes	(4,607)	(5,359)
Non-cash lease expense	1,031	1,304
Amortization and accretion of marketable securities	(3,020)	0
Other	313	1,619
Change in operating assets and liabilities:
Accounts receivable	7,247	(10,781)
Prepaid expenses and other current assets	2,429	(991)
Deferred commissions, net	70	81
Other assets	106	2,129
Accounts payable	(5,019)	(2,882)
Accrued expenses and other liabilities	(13,899)	(9,306)
Accrued interest	(6,902)	5,957
Deferred revenue	(95)	2,234
Operating lease liabilities	(1,509)	(1,726)
Net cash provided by operating activities	6,370	14,433
Cash flows from investing activities
Purchases of property and equipment	(414)	(986)
Capitalized internal-use software costs	(3,068)	(2,530)
Purchases of marketable securities	(117,122)	0
Paydowns, maturities, and redemptions of marketable securities	158,623	0
Net cash provided by (used in) investing activities	38,019	(3,516)
Cash flows from financing activities
Proceeds from issuance of senior unsecured notes	0	550,000
Payment of senior unsecured notes’ issuance fees	0	(9,378)
Payments of tax withholdings on net settlement of equity awards	(4,511)	(5,902)
Repurchase of common stock	(58,740)	(62,349)
Proceeds from exercise of stock options	1,787	2,191
Proceeds from issuance of stock under employee stock purchase plan	4,221	5,293
Net cash provided by (used in) financing activities	(57,243)	479,855
Net increase (decrease) in cash and cash equivalents	(12,854)	490,772
Beginning of period	227,380	254,621
End of period	214,526	745,393
Supplemental disclosure of non-cash activities
Repurchase of common stock accrued but not yet settled	$ 1,548	$ 0

Organization and Description of

Organization and Description of Business	3 Months Ended
	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Description of Business	Organization and Description of Business ZipRecruiter, Inc. was incorporated in the state of Delaware on June 29, 2010. Hereinafter, ZipRecruiter, Inc. and its wholly owned subsidiaries ZipRecruiter Israel Ltd., ZipRecruiter UK Ltd., and ZipRecruiter Canada Ltd. are collectively referred to as “ZipRecruiter” or the “Company.” The Company is a two-sided marketplace that enables employers and job seekers to connect with one another online to fill job opportunities.

Basis of Presentation, Principl

Basis of Presentation, Principles of Consolidation, and Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation, Principles of Consolidation, and Summary of Significant Accounting Policies	Basis of Presentation, Principles of Consolidation, and Summary of Significant Accounting Policies The accompanying unaudited condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information. Accordingly, certain information and disclosures normally included in consolidated financial statements presented in accordance with U.S. GAAP have been condensed or omitted. 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. The accompanying condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and related notes included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022 (the “2022 Form 10-K”). The condensed consolidated balance sheet as of December 31, 2022 has been derived from the Company’s audited consolidated financial statements. In the opinion of the Company’s management, the accompanying unaudited condensed consolidated financial statements include all adjustments (consisting of normal recurring adjustments) necessary for the fair statement of the condensed consolidated financial statements. There have been no changes in the Company’s accounting policies from those disclosed in the Company’s audited consolidated financial statements and the related notes included in the 2022 Form 10-K. The operating results for the three months ended March 31, 2023 are not necessarily indicative of the results expected for the full year ending December 31, 2023 or any future period. Use of Estimates The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and footnotes thereto. Actual results could differ from those estimates. Investments The Company classifies and accounts for its money market mutual funds which have readily determinable fair values as equity securities, and it carries such securities at fair value with unrealized gains and losses reported in other income (expense), net in its condensed consolidated statements of operations. The Company classifies and accounts for its debt securities as available-for-sale, and it carries such securities at fair value with unrealized gains and losses reported net of tax as a separate component of stockholders’ equity in accumulated other comprehensive loss. During the three months ended March 31, 2023, in connection with its available-for-sale debt securities, the Company recorded pre-tax unrealized gains in other comprehensive loss of $0.2 million with no associated tax benefit. The Company held no investments in available-for-sale debt securities during the three months ended March 31, 2022. The Company determines any realized gains and losses on the sale of its available-for-sale debt securities using a specific identification method, and it records such gains and losses through other income (expense), net in its condensed consolidated statements of operations. During the three months ended March 31, 2023, the Company did not have any sales of its available-for-sale debt securities and therefore reclassified no amounts out of accumulated other comprehensive income into other income (expense), net in the condensed consolidated statements of operations. Segments and Geographic Information The Company operates as a single operating segment. The Company’s Chief Operating Decision Maker, the CEO, regularly reviews financial information presented on a consolidated basis for purposes of assessing financial performance and allocating resources. Revenue is attributed to geographic regions based on locations where services are provided to the Company’s customers. Foreign countries outside of the United States, in aggregate, accounted for less than 2% of the Company’s revenue for the three months ended March 31, 2023 and 2022. In addition, property and equipment and operating lease right-of-use (“ROU”) assets outside of the United States were not material as of March 31, 2023 and December 31, 2022. Concentration of Credit Risk Financial instruments that potentially subject the Company to significant concentrations of credit risk consist principally of cash and cash equivalents, marketable securities, and accounts receivable. The Company maintains its cash accounts with large financial institutions and at times, the cash accounts may exceed Federal Deposit Insurance Corporation limits. The Company has not experienced any losses in such accounts. As of March 31, 2023, the Company maintains its cash accounts with several large financial institutions which the Company believes are financially sound. Accordingly, the Company believes minimal credit risk exists with respect to these cash balances. The Company invests only in highly rated debt and equity securities. The Company believes the financial institutions that hold its investments are financially sound, and accordingly, are subject to minimal credit risk. For the three months ended March 31, 2023, there were no customers that individually represented 10% or more of the Company’s outstanding accounts receivable. One customer accounted for 12% of the Company's outstanding accounts receivable as of December 31, 2022. The Company closely monitors the financial condition of the foregoing customer, which has been in good credit standing. As such, the Company does not consider the concentration of its accounts receivable to be a material risk. For the three months ended March 31, 2023 and 2022, there were no customers that individually represented 10% or more of revenue. The Company uses third parties to collect its credit card receivables and believes risk related to its credit card processors is minimal. Excise Tax Imposed by Inflation Reduction Act The Inflation Reduction Act of 2022, which was enacted into law on August 16, 2022, imposed a nondeductible 1% excise tax on the net value of certain stock repurchases made after December 31, 2022. The net value is determined by the fair market value of the stock repurchased during the tax year, reduced by the fair market value of stock issued during the tax year, including stock issued to employees. As of March 31, 2023, the Company reflected $0.5 million of excise tax as part of the cost basis of the stock repurchased during the three months ended March 31, 2023, and recorded a corresponding liability for the excise taxes payable in other long-term liabilities on its condensed consolidated balance sheet. Recent Accounting Pronouncements Accounting Pronouncements Not Yet Adopted The Company reviewed all recently issued accounting pronouncements and concluded they were either not applicable or not expected to have a material impact on the Company’s condensed consolidated financial statements.

Net Income Per Share

Net Income Per Share	3 Months Ended
	Mar. 31, 2023
Earnings Per Share [Abstract]
Net Income Per Share	Net Income Per Share The following table presents the Company’s basic net income per share (in thousands, except per share amounts): Three Months Ended 2023 2022 Net income per share, basic: Net income $ 5,011 $ 8,417 Weighted average shares of Class A and Class B common stock outstanding 104,261 118,806 Net income per share, basic $ 0.05 $ 0.07 The following table presents the Company’s diluted net income per share (in thousands, except per share amounts): Three Months Ended 2023 2022 Net income per share, diluted: Numerator: Net income $ 5,011 $ 8,417 Denominator: Weighted average shares of Class A and Class B common stock outstanding, basic 104,261 118,806 Effect of dilutive securities: Options to purchase common stock 5,345 7,960 Unvested restricted stock units 372 284 Employee stock purchase plan 6 — Weighted average shares of Class A and Class B common stock outstanding, diluted 109,984 127,050 Net income per share, diluted $ 0.05 $ 0.07 The following table presents the weighted average number of potentially dilutive common stock equivalents excluded from the computation of diluted net income per share because their inclusion would have been anti-dilutive (in thousands): Three Months Ended 2023 2022 Options to purchase common stock — 62 Unvested restricted stock units 5,790 4,859 Employee stock purchase plan 97 224 Total shares excluded from diluted net income per share 5,887 5,145

Revenue Information

Revenue Information	3 Months Ended
	Mar. 31, 2023
Revenue from Contract with Customer [Abstract]
Revenue Information	Revenue Information The Company disaggregates revenue into two streams: subscription revenue and performance-based revenue. The following table presents the Company’s revenue streams (in thousands): Three Months Ended 2023 2022 Subscription $ 143,101 $ 174,823 Performance-based 40,648 52,437 Total revenue $ 183,749 $ 227,260 The Company recognized $18.6 million and $21.9 million of revenue during the three months ended March 31, 2023 and 2022, respectively, that was included in the deferred revenue balances as of December 31, 2022 and 2021, respectively. As of March 31, 2023 and December 31, 2022, the Company had no contract assets. Performance Obligations No revenue was recognized during the three months ended March 31, 2023 and 2022 from performance obligations satisfied in previous periods.

Accrued Expenses

Accrued Expenses	3 Months Ended
	Mar. 31, 2023
Payables and Accruals [Abstract]
Accrued Expenses	Accrued Expenses Accrued expenses consist of the following (in thousands): March 31, December 31, 2023 2022 Accrued marketing $ 15,104 $ 10,937 Accrued compensation and benefits 13,376 31,791 Accrued commissions 5,923 5,716 Accrued non-income taxes 3,597 3,605 Accrued partner expenses 3,344 7,465 Accrued refunds and customer liabilities 2,974 2,863 Other accrued expenses 7,516 6,738 Total accrued expenses $ 51,834 $ 69,115

Debt

Debt	3 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
Debt	Debt Credit Facility The Company has a $250.0 million credit facility which matures in April 2026. On March 28, 2023, the Company entered into a Fourth Amendment to the Credit Agreement with the administrative agent to replace the London Interbank Offered Rate (“LIBOR”) reference rate with the Secured Overnight Financing Rate (“SOFR”) reference rate (as defined therein). No other terms or conditions of the Credit Agreement were changed as a result of this amendment. The Company had no amounts outstanding under its credit facility and was in compliance with the financial covenants as of March 31, 2023. The amount available under the credit facility as of March 31, 2023 was $244.9 million, which is the credit limit less letters of credit outstanding of $5.1 million. Senior Unsecured Notes On January 12, 2022, the Company issued an aggregate principal amount of $550.0 million senior unsecured notes (the “Notes”) in a private placement. The Notes will mature on January 15, 2030 and bear interest at a rate of 5% per year. Interest on the Notes is payable semi-annually in arrears on January 15 and July 15 of each year. Unpaid interest amounts are included within accrued interest in the Company’s condensed consolidated balance sheets. At its sole discretion, the Company has the option to redeem the Notes at any time in whole or in part at specified redemption prices. The Company includes its Notes, net of debt issuance costs, within long-term borrowings in its condensed consolidated balance sheets. As of March 31, 2023, the Company had a carrying amount of approximately $8.2 million of debt issuance costs related to the Notes.

Commitment and Contingencies

Commitment and Contingencies	3 Months Ended
	Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Legal Matters The Company is subject to various legal proceedings and claims that arise in the ordinary course of business. If the Company determines that it is probable that a loss has been incurred and the amount is reasonably estimable, the Company will record a liability. However, if the Company determines that a contingent loss is reasonably possible and the loss or range of loss can be estimated, the Company will disclose the possible loss in the condensed consolidated financial statements. Legal costs relating to loss contingencies are expensed as incurred. In April 2019, the Company was named as a defendant in a putative class action lawsuit filed by a former employee in the Los Angeles Superior Court alleging that the Company violated the Fair Credit Reporting Act as well as owed certain compensation to employees. In January 2020, the former employee filed a related representative action in the Los Angeles Superior Court under the Private Attorney General Act alleging similar claims regarding compensation owed to employees. In January 2021, the Company filed a motion for summary judgment or, in the alternative, summary adjudication, which was granted in part and denied in part. As of September 30, 2021, the parties agreed to settle the lawsuit for an immaterial amount and accordingly, the Company recorded a liability within accrued expenses. The settlement must be approved by the Court before it can be finalized. As of March 31, 2023, the Company anticipates that the settlement agreement will be approved in 2023. Indemnification In the ordinary course of business, the Company may provide indemnification of varying scopes and terms to customers, investors, directors and officers with respect to certain matters, including, but not limited to, losses arising out of the Company’s breach of such agreements, services to be provided by the Company, or from certain claims made by third parties. These indemnification provisions may survive termination of the underlying agreement and the maximum potential amount of future payments the Company could be required to make under these indemnification provisions may not be subject to maximum loss clauses. The maximum potential amount of future payments the Company could be required to make under these indemnification provisions is indeterminable. The Company has never paid a material claim, nor has the Company been sued in connection with these indemnification arrangements. As of March 31, 2023, the Company has not accrued a liability for these indemnification arrangements because the likelihood of incurring a payment obligation, if any, in connection with these indemnification arrangements is neither probable nor reasonably estimable. Non-income Taxes The Company collects and remits sales and use, value added and other taxes (“non-income taxes”) relating to the sale of the Company’s services in various jurisdictions. The Company accrues non-income taxes that may result from examinations by, or any anticipated negotiated agreements with, these tax authorities when a loss is probable and reasonably estimable. If the Company determines that a loss is reasonably possible and the loss or range of loss can be estimated, then the reasonably possible loss is disclosed. Due to the inherent complexity and uncertainty of these matters and judicial process in certain jurisdictions, the final outcome may be materially different from the Company’s expectations.

Financial Instruments

Financial Instruments	3 Months Ended
	Mar. 31, 2023
Fair Value Disclosures [Abstract]
Financial Instruments	Financial Instruments Fair Value Measurements The following table presents the Company’s financial assets measured at fair value on a recurring basis, as well as the amortized cost basis and gross unrealized gains and losses of those assets as of March 31, 2023 (in thousands): Balance Sheet Classification Amortized Cost Basis Gross Unrealized Gains Gross Unrealized Losses Fair Value Cash and Cash Equivalents Marketable Securities Level 1: Cash $ 188,349 $ — $ — $ 188,349 $ 188,349 $ — Money market mutual funds 3,823 — — 3,823 3,823 — U.S. treasury securities 188,890 47 (87) 188,850 21,134 167,716 Subtotal 381,062 47 (87) 381,022 213,306 167,716 Level 2: Commercial paper 40,454 — — 40,454 — 40,454 Certificates of deposit 9,805 — — 9,805 — 9,805 Corporate notes and obligations 42,405 17 (171) 42,251 437 41,814 Asset-backed securities 15,876 9 (33) 15,852 — 15,852 U.S. agency securities 29,697 9 (3) 29,703 783 28,920 Subtotal 138,237 35 (207) 138,065 1,220 136,845 Total cash, cash equivalents, and marketable securities $ 519,299 $ 82 $ (294) $ 519,087 $ 214,526 $ 304,561 As of December 31, 2022, the Company’s financial assets consisted of the following (in thousands): Balance Sheet Classification Amortized Cost Basis Gross Unrealized Gains Gross Unrealized Losses Fair Value Cash and Cash Equivalents Marketable Securities Level 1: Cash $ 166,341 $ — $ — $ 166,341 $ 166,341 $ — Money market mutual funds 49,545 — — 49,545 49,545 — U.S. treasury securities 204,580 9 (180) 204,409 2,995 201,414 Subtotal 420,466 9 (180) 420,295 218,881 201,414 Level 2: Commercial paper 41,348 — — 41,348 — 41,348 Certificates of deposit 6,116 — — 6,116 — 6,116 Corporate notes and obligations 63,912 10 (202) 63,720 1,519 62,201 Asset-backed securities 15,150 17 (29) 15,138 — 15,138 U.S. agency securities 23,736 5 (3) 23,738 6,980 16,758 Subtotal 150,262 32 (234) 150,060 8,499 141,561 Total cash, cash equivalents, and marketable securities $ 570,728 $ 41 $ (414) $ 570,355 $ 227,380 $ 342,975 The Company’s money market mutual funds and treasury securities are measured at fair value using quoted prices in active markets for identical assets and are classified within Level 1 in the fair value hierarchy. The fair values of the Company’s Level 2 commercial paper and certificates of deposit are determined using quoted prices in markets that are not active or using model-driven valuations employing significant inputs derived from observable market data. The fair values of the Company’s Level 2 corporate notes and obligations, asset-backed securities, and U.S. agency securities are determined using an evaluated price based on a compilation of reported market information, such as benchmark yield curves, credit spreads and estimated default rates. The carrying amounts of the Company’s remaining financial instruments not discussed in the above table, including accounts receivable, accounts payable, and accrued expenses, approximate fair value because of their short-term maturities, except for the Company’s senior unsecured notes which are valued on a quarterly basis for disclosure purposes only based on quoted prices for the notes in less active markets and categorized accordingly as Level 2 in the fair value hierarchy. The aggregate fair value of the Notes as of March 31, 2023 was estimated to be approximately $468.2 million. Equity Securities The Company’s investments in equity securities consist primarily of money market mutual funds. During the three months ended March 31, 2023, the Company recorded no material unrealized gains or losses in connection with its money market mutual funds held as of March 31, 2023. The Company had no investments in money market mutual funds during the three months ended March 31, 2022. Available-for-sale Debt Securities The following table summarizes the fair value of the Company’s available-for-sale debt securities by contractual maturity as of March 31, 2023 (in thousands): Due within 1 year $ 303,101 Due after 1 year through 5 years 23,815 Total available-for-sale debt securities $ 326,916 Actual maturities may differ from contractual maturities because certain borrowers have the right to call or prepay certain obligations. The following table summarizes the available-for-sale debt securities which have been in a continuous unrealized loss position for less than 12 months as of March 31, 2023 (in thousands): Fair Value Gross Unrealized Losses Asset-backed securities $ 10,790 $ (33) Corporate notes and obligations 38,204 (171) U.S. treasury securities 53,570 (87) U.S. agency securities 11,969 (3) Total available-for-sale debt securities $ 114,533 $ (294) The following table summarizes the available-for-sale debt securities which have been in a continuous unrealized loss position for less than 12 months as of December 31, 2022 (in thousands): Fair Value Gross Unrealized Losses Asset-backed securities $ 6,598 $ (29) Corporate notes and obligations 55,136 (202) U.S. treasury securities 149,128 (180) U.S. agency securities 7,517 (3) Total available-for-sale debt securities $ 218,379 $ (414) The Company had no available-for-sale debt securities in a continuous unrealized loss position for more than 12 months as of March 31, 2023 or December 31, 2022. The Company did not recognize any credit losses for its available-for-sale debt securities during the three months ended March 31, 2023. The Company held no investments in available-for-sale debt securities during the three months ended March 31, 2022. The Company had no ending allowance balances for credit losses as of March 31, 2023 or December 31, 2022.

Share Repurchase Program

Share Repurchase Program	3 Months Ended
	Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]
Share Repurchase Program	Share Repurchase ProgramIn 2022, the Company’s board of directors authorized the Company to repurchase up to $450.0 million of outstanding shares of its common stock pursuant to a share repurchase program (the “Program”). Under the Program, the Company may repurchase shares of common stock through open market or privately negotiated transactions, block purchases, or pursuant to one or more Rule 10b5-1 plans. The Program does not obligate the Company to repurchase shares of common stock. There is no minimum or maximum number of shares to be repurchased under the Program. During the three months ended March 31, 2023, the Company repurchased 3.9 million shares of its Class A common stock for $60.2 million under the Program, including 3.8 million shares of its Class A common stock delivered under a Rule 10b5-1 plan totaling $60.2 million, and 0.1 million shares of its Class A common stock delivered upon the final settlement of an accelerated share repurchase agreement that the Company entered into in December 2022 with a major financial institution for which the payment was made in December 2022. The number of shares delivered under a Rule 10b5-1 plan includes 0.1 million shares of Class A common stock repurchased and accrued, but not yet settled as of March 31, 2023, totaling $1.5 million. Approximately $50.5 million remains available for future repurchases of Class A common stock under the Program as of March 31, 2023.

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation Total stock-based compensation expense is recorded in the condensed consolidated statements of operations as follows (in thousands): Three Months Ended 2023 2022 Cost of revenue $ 227 $ 216 Sales and marketing 3,618 2,628 Research and development 9,787 8,670 General and administrative 7,939 8,980 Total stock-based compensation $ 21,571 $ 20,494 Equity Incentive Plan and Employee Stock Purchase Plan Under the Company’s 2021 Equity Incentive Plan, as of March 31, 2023, 24.1 million shares of Class A common stock were authorized, of which 14.2 million shares of Class A common stock were available for future issuance. The number of shares reserved for issuance was increased in January 2023 pursuant to the evergreen provisions set forth in the 2021 Equity Incentive Plan. Under the Company’s 2021 Employee Stock Purchase Plan (the “ESPP”), as of March 31, 2023, 3.0 million shares of Class A common stock were authorized. The number of shares reserved for issuance was increased in January 2023 pursuant to the evergreen provisions set forth in the ESPP. During the three months ended March 31, 2023, 0.2 million shares of Class A common stock were purchased under the ESPP for an aggregate amount of $4.2 million. For the ESPP, the Company recorded stock-based compensation expense of $0.6 million and $0.8 million during the three months ended March 31, 2023 and 2022, respectively. As of March 31, 2023, there was $0.8 million of unrecognized stock-based compensation expense that is expected to be recognized over the remaining term of the offering period ending August 14, 2023. As of March 31, 2023, the Company recorded a liability of $1.7 million related to the accumulated payroll deductions, which are refundable to employees who withdraw from the ESPP. This amount is included within accrued expenses in the accompanying condensed consolidated balance sheets. Stock Options A summary of the Company’s stock option activity for the three months ended March 31, 2023 is as follows (in thousands, except weighted average information): Number of Options Outstanding Weighted Average Exercise Price Per Share Outstanding at December 31, 2022 6,746 $ 2.31 Granted — — Exercised (665) 1.95 Forfeited/Canceled (1) 2.00 Outstanding at March 31, 2023 6,080 $ 2.35 Exercisable at March 31, 2023 5,872 $ 2.35 As of March 31, 2023, total remaining stock-based compensation expense for unvested stock options is $2.5 million, which is expected to be recognized over a weighted average period of 0.9 years. Restricted Stock Units The Company’s CEO Performance Award provides for a grant of 1.4 million RSUs consisting of five vesting tranches with a vesting schedule based upon achieving stock price targets as well as satisfying certain minimum service requirements. During the three months ended March 31, 2023 and 2022, the Company recorded stock-based compensation expense of $1.5 million and $1.5 million, respectively, related to the CEO Performance Award. For all RSUs, excluding the CEO Performance Award, the Company recorded stock-based compensation expense of $19.2 million and $17.7 million during the three months ended March 31, 2023 and 2022, respectively. A summary of the Company’s RSU activity for the three months ended March 31, 2023 is as follows (in thousands, except weighted average information): Number of Shares Weighted Average Grant Date Fair Value Per Share Unvested at December 31, 2022 7,641 $ 21.20 Granted 3,364 22.50 Vested (794) 23.68 Forfeited/Canceled (153) 21.79 Unvested at March 31, 2023 10,058 $ 21.42

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company computes its provision (benefit) for income taxes by applying the estimated annual effective tax rate to pretax income or loss and adjusts the provision for discrete tax items recorded in the period. The income tax benefits, effective tax rates, and statutory federal income tax rates for the three months ended March 31, 2023 and March 31, 2022 were as follows (in thousands, except percentages): Three Months Ended 2023 2022 Income tax expense (benefit) $ 3,630 $ (503) Effective tax rate 42.0 % (6.4) % Statutory federal income tax rate 21 % 21 % The effective tax rate for the three months ended March 31, 2023 differed from the U.S. federal statutory tax rate of 21% primarily due to book and tax differences relating to the settlement of RSUs, certain non-deductible expenses, and limitations on the amount of deductible officer compensation, partially offset by the net tax benefits from research and development tax credits. The effective tax rate for the three months ended March 31, 2022 differed from the U.S. federal statutory tax rate of 21% primarily due to excess tax benefits relating to the exercise of non-qualified stock options and settlement of RSUs and from the tax benefits from research and development tax credits, partially offset by non-deductible expenses including certain stock-based compensation expenses and limitations on the amount of deductible officer compensation.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2023
Subsequent Events [Abstract]
Subsequent Events	Subsequent EventsIn May 2023, the Company’s board of directors authorized an increase to the Program of $100.0 million. Such amount is in addition to the Company’s previous aggregate authorization of $450.0 million.

Basis of Presentation, Princi_2

Basis of Presentation, Principles of Consolidation, and Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Principles of Consolidation	The accompanying unaudited condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information. Accordingly, certain information and disclosures normally included in consolidated financial statements presented in accordance with U.S. GAAP have been condensed or omitted. 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. The accompanying condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and related notes included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022 (the “2022 Form 10-K”). The condensed consolidated balance sheet as of December 31, 2022 has been derived from the Company’s audited consolidated financial statements. In the opinion of the Company’s management, the accompanying unaudited condensed consolidated financial statements include all adjustments (consisting of normal recurring adjustments) necessary for the fair statement of the condensed consolidated financial statements. There have been no changes in the Company’s accounting policies from those disclosed in the Company’s audited consolidated financial statements and the related notes included in the 2022 Form 10-K.
Use of Estimates	The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and footnotes thereto. Actual results could differ from those estimates.
Investments	The Company classifies and accounts for its money market mutual funds which have readily determinable fair values as equity securities, and it carries such securities at fair value with unrealized gains and losses reported in other income (expense), net in its condensed consolidated statements of operations. The Company classifies and accounts for its debt securities as available-for-sale, and it carries such securities at fair value with unrealized gains and losses reported net of tax as a separate component of stockholders’ equity in accumulated other comprehensive loss. During the three months ended March 31, 2023, in connection with its available-for-sale debt securities, the Company recorded pre-tax unrealized gains in other comprehensive loss of $0.2 million with no associated tax benefit. The Company held no investments in available-for-sale debt securities during the three months ended March 31, 2022. The Company determines any realized gains and losses on the sale of its available-for-sale debt securities using a specific identification method, and it records such gains and losses through other income (expense), net in its condensed consolidated statements of operations. During the three months ended March 31, 2023, the Company did not have any sales of its available-for-sale debt securities and therefore reclassified no amounts out of accumulated other comprehensive income into other income (expense), net in the condensed consolidated statements of operations.
Segments and Geographic Information	The Company operates as a single operating segment. The Company’s Chief Operating Decision Maker, the CEO, regularly reviews financial information presented on a consolidated basis for purposes of assessing financial performance and allocating resources.
Concentration of Credit Risk	Financial instruments that potentially subject the Company to significant concentrations of credit risk consist principally of cash and cash equivalents, marketable securities, and accounts receivable. The Company maintains its cash accounts with large financial institutions and at times, the cash accounts may exceed Federal Deposit Insurance Corporation limits. The Company has not experienced any losses in such accounts. As of March 31, 2023, the Company maintains its cash accounts with several large financial institutions which the Company believes are financially sound. Accordingly, the Company believes minimal credit risk exists with respect to these cash balances. The Company invests only in highly rated debt and equity securities. The Company believes the financial institutions that hold its investments are financially sound, and accordingly, are subject to minimal credit risk.
Recent Accounting Pronouncements	Accounting Pronouncements Not Yet Adopted The Company reviewed all recently issued accounting pronouncements and concluded they were either not applicable or not expected to have a material impact on the Company’s condensed consolidated financial statements.

Net Income Per Share (Tables)

Net Income Per Share (Tables)	3 Months Ended
	Mar. 31, 2023
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic, by Common Class, Including Two Class Method	The following table presents the Company’s basic net income per share (in thousands, except per share amounts): Three Months Ended 2023 2022 Net income per share, basic: Net income $ 5,011 $ 8,417 Weighted average shares of Class A and Class B common stock outstanding 104,261 118,806 Net income per share, basic $ 0.05 $ 0.07
Schedule of Earnings Per Share, Diluted, by Common Class, Including Two Class Method	The following table presents the Company’s diluted net income per share (in thousands, except per share amounts): Three Months Ended 2023 2022 Net income per share, diluted: Numerator: Net income $ 5,011 $ 8,417 Denominator: Weighted average shares of Class A and Class B common stock outstanding, basic 104,261 118,806 Effect of dilutive securities: Options to purchase common stock 5,345 7,960 Unvested restricted stock units 372 284 Employee stock purchase plan 6 — Weighted average shares of Class A and Class B common stock outstanding, diluted 109,984 127,050 Net income per share, diluted $ 0.05 $ 0.07
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The following table presents the weighted average number of potentially dilutive common stock equivalents excluded from the computation of diluted net income per share because their inclusion would have been anti-dilutive (in thousands): Three Months Ended 2023 2022 Options to purchase common stock — 62 Unvested restricted stock units 5,790 4,859 Employee stock purchase plan 97 224 Total shares excluded from diluted net income per share 5,887 5,145

Revenue Information (Tables)

Revenue Information (Tables)	3 Months Ended
	Mar. 31, 2023
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	The following table presents the Company’s revenue streams (in thousands): Three Months Ended 2023 2022 Subscription $ 143,101 $ 174,823 Performance-based 40,648 52,437 Total revenue $ 183,749 $ 227,260

Accrued Expenses (Tables)

Accrued Expenses (Tables)	3 Months Ended
	Mar. 31, 2023
Payables and Accruals [Abstract]
Schedule of Accrued Liabilities	Accrued expenses consist of the following (in thousands): March 31, December 31, 2023 2022 Accrued marketing $ 15,104 $ 10,937 Accrued compensation and benefits 13,376 31,791 Accrued commissions 5,923 5,716 Accrued non-income taxes 3,597 3,605 Accrued partner expenses 3,344 7,465 Accrued refunds and customer liabilities 2,974 2,863 Other accrued expenses 7,516 6,738 Total accrued expenses $ 51,834 $ 69,115

Financial Instruments (Tables)

Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2023
Fair Value Disclosures [Abstract]
Financial Assets Measured at Fair Value on a Recurring Basis	The following table presents the Company’s financial assets measured at fair value on a recurring basis, as well as the amortized cost basis and gross unrealized gains and losses of those assets as of March 31, 2023 (in thousands): Balance Sheet Classification Amortized Cost Basis Gross Unrealized Gains Gross Unrealized Losses Fair Value Cash and Cash Equivalents Marketable Securities Level 1: Cash $ 188,349 $ — $ — $ 188,349 $ 188,349 $ — Money market mutual funds 3,823 — — 3,823 3,823 — U.S. treasury securities 188,890 47 (87) 188,850 21,134 167,716 Subtotal 381,062 47 (87) 381,022 213,306 167,716 Level 2: Commercial paper 40,454 — — 40,454 — 40,454 Certificates of deposit 9,805 — — 9,805 — 9,805 Corporate notes and obligations 42,405 17 (171) 42,251 437 41,814 Asset-backed securities 15,876 9 (33) 15,852 — 15,852 U.S. agency securities 29,697 9 (3) 29,703 783 28,920 Subtotal 138,237 35 (207) 138,065 1,220 136,845 Total cash, cash equivalents, and marketable securities $ 519,299 $ 82 $ (294) $ 519,087 $ 214,526 $ 304,561 As of December 31, 2022, the Company’s financial assets consisted of the following (in thousands): Balance Sheet Classification Amortized Cost Basis Gross Unrealized Gains Gross Unrealized Losses Fair Value Cash and Cash Equivalents Marketable Securities Level 1: Cash $ 166,341 $ — $ — $ 166,341 $ 166,341 $ — Money market mutual funds 49,545 — — 49,545 49,545 — U.S. treasury securities 204,580 9 (180) 204,409 2,995 201,414 Subtotal 420,466 9 (180) 420,295 218,881 201,414 Level 2: Commercial paper 41,348 — — 41,348 — 41,348 Certificates of deposit 6,116 — — 6,116 — 6,116 Corporate notes and obligations 63,912 10 (202) 63,720 1,519 62,201 Asset-backed securities 15,150 17 (29) 15,138 — 15,138 U.S. agency securities 23,736 5 (3) 23,738 6,980 16,758 Subtotal 150,262 32 (234) 150,060 8,499 141,561 Total cash, cash equivalents, and marketable securities $ 570,728 $ 41 $ (414) $ 570,355 $ 227,380 $ 342,975
Investments Classified by Contractual Maturity Date	The following table summarizes the fair value of the Company’s available-for-sale debt securities by contractual maturity as of March 31, 2023 (in thousands): Due within 1 year $ 303,101 Due after 1 year through 5 years 23,815 Total available-for-sale debt securities $ 326,916
Debt Securities, Available-for-Sale, Unrealized Loss Position, Fair Value	The following table summarizes the available-for-sale debt securities which have been in a continuous unrealized loss position for less than 12 months as of March 31, 2023 (in thousands): Fair Value Gross Unrealized Losses Asset-backed securities $ 10,790 $ (33) Corporate notes and obligations 38,204 (171) U.S. treasury securities 53,570 (87) U.S. agency securities 11,969 (3) Total available-for-sale debt securities $ 114,533 $ (294) The following table summarizes the available-for-sale debt securities which have been in a continuous unrealized loss position for less than 12 months as of December 31, 2022 (in thousands): Fair Value Gross Unrealized Losses Asset-backed securities $ 6,598 $ (29) Corporate notes and obligations 55,136 (202) U.S. treasury securities 149,128 (180) U.S. agency securities 7,517 (3) Total available-for-sale debt securities $ 218,379 $ (414)

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of Share-based Payment Arrangement, Expensed and Capitalized, Amount	Total stock-based compensation expense is recorded in the condensed consolidated statements of operations as follows (in thousands): Three Months Ended 2023 2022 Cost of revenue $ 227 $ 216 Sales and marketing 3,618 2,628 Research and development 9,787 8,670 General and administrative 7,939 8,980 Total stock-based compensation $ 21,571 $ 20,494
Schedule of Stock Options Roll Forward	A summary of the Company’s stock option activity for the three months ended March 31, 2023 is as follows (in thousands, except weighted average information): Number of Options Outstanding Weighted Average Exercise Price Per Share Outstanding at December 31, 2022 6,746 $ 2.31 Granted — — Exercised (665) 1.95 Forfeited/Canceled (1) 2.00 Outstanding at March 31, 2023 6,080 $ 2.35 Exercisable at March 31, 2023 5,872 $ 2.35
Schedule of Nonvested Restricted Stock Units Activity	A summary of the Company’s RSU activity for the three months ended March 31, 2023 is as follows (in thousands, except weighted average information): Number of Shares Weighted Average Grant Date Fair Value Per Share Unvested at December 31, 2022 7,641 $ 21.20 Granted 3,364 22.50 Vested (794) 23.68 Forfeited/Canceled (153) 21.79 Unvested at March 31, 2023 10,058 $ 21.42

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Mar. 31, 2023
Income Tax Disclosure [Abstract]
Schedule of Effective Income Tax Rate Reconciliation	The income tax benefits, effective tax rates, and statutory federal income tax rates for the three months ended March 31, 2023 and March 31, 2022 were as follows (in thousands, except percentages): Three Months Ended 2023 2022 Income tax expense (benefit) $ 3,630 $ (503) Effective tax rate 42.0 % (6.4) % Statutory federal income tax rate 21 % 21 %

Basis of Presentation, Princi_3

Basis of Presentation, Principles of Consolidation, and Summary of Significant Accounting Policies (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Jun. 30, 2022
Concentration Risk [Line Items]
Gain (loss) recognized in other comprehensive income	$ 200
Associated tax benefit	0
Available for sale debt securities	326,916	$ 0
Available for sale debt securities, reclassified	0
Excise tax	$ 500
Accounts Receivable | Customer Concentration Risk | Customer One
Concentration Risk [Line Items]
Concentration risk (as a percent)			12%
Revenue Benchmark | Geographic Concentration Risk | Non-US
Concentration Risk [Line Items]
Concentration risk (as a percent)	2%	2%

Net Income Per Share - Schedule

Net Income Per Share - Schedule of Earnings Per Share - Basic (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Net income per share, basic:
Net income	$ 5,011	$ 8,417
Weighted average shares of Class A and Class B common stock outstanding basic (in shares)	104,261	118,806
Net income (loss) per share attributable to Class A and Class B common stockholders, basic (in dollars per share)	$ 0.05	$ 0.07

Net Income Per Share - Schedu_2

Net Income Per Share - Schedule of Earnings Per Share - Diluted (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Numerator:
Net income	$ 5,011	$ 8,417
Denominator:
Weighted average shares of Class A and Class B common stock outstanding basic (in shares)	104,261	118,806
Effect of dilutive securities:
Weighted average shares of Class A and Class B common stock outstanding, diluted (in shares)	109,984	127,050
Net income per share, diluted (in dollars per share)	$ 0.05	$ 0.07
Options to purchase common stock
Effect of dilutive securities:
Share based payment arrangements (in shares)	5,345	7,960
Unvested restricted stock units
Effect of dilutive securities:
Share based payment arrangements (in shares)	372	284
Employee stock purchase plan
Effect of dilutive securities:
Share based payment arrangements (in shares)	6	0

Net Income Per Share - Schedu_3

Net Income Per Share - Schedule of Antidilutive Options (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total shares excluded from diluted net income (loss) per share (in shares)	5,887	5,145
Options to purchase common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total shares excluded from diluted net income (loss) per share (in shares)	0	62
Unvested restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total shares excluded from diluted net income (loss) per share (in shares)	5,790	4,859
Employee stock purchase plan
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total shares excluded from diluted net income (loss) per share (in shares)	97	224

Revenue Information - Narrative

Revenue Information - Narrative (Details)	3 Months Ended
	Mar. 31, 2023 USD ($) revenueStream	Mar. 31, 2022 USD ($)	Dec. 31, 2022 USD ($)
Revenue from Contract with Customer [Abstract]
Number of revenue streams | revenueStream	2
Revenue that was included in deferred revenue balances	$ 18,600,000	$ 21,900,000
Contract assets	0		$ 0
Revenue recognized from performance obligations satisfied in previous periods	$ 0	$ 0

Revenue Information - Schedule

Revenue Information - Schedule of Revenue Streams (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Disaggregation of Revenue [Line Items]
Total revenue	$ 183,749	$ 227,260
Subscription
Disaggregation of Revenue [Line Items]
Total revenue	143,101	174,823
Performance-based
Disaggregation of Revenue [Line Items]
Total revenue	$ 40,648	$ 52,437

Accrued Expenses (Details)

Accrued Expenses (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Payables and Accruals [Abstract]
Accrued marketing	$ 15,104	$ 10,937
Accrued compensation and benefits	13,376	31,791
Accrued commissions	5,923	5,716
Accrued non-income taxes	3,597	3,605
Accrued partner expenses	3,344	7,465
Accrued refunds and customer liabilities	2,974	2,863
Other accrued expenses	7,516	6,738
Total accrued expenses	$ 51,834	$ 69,115

Debt - Narrative (Details)

Debt - Narrative (Details) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Jan. 12, 2022
Line of Credit
Line of Credit Facility [Line Items]
Line of credit facility	$ 250,000,000
Line of credit, amount available	244,900,000
Line of Credit | Revolving Credit Facility
Line of Credit Facility [Line Items]
Long-term debt outstanding	0
Line of Credit | Letter of Credit
Line of Credit Facility [Line Items]
Long-term debt outstanding	5,100,000
Senior Notes
Line of Credit Facility [Line Items]
Debt issuance costs	8,200,000
Senior Notes | Senior Notes Due 2030
Line of Credit Facility [Line Items]
Convertible notes issued			$ 550,000,000
Debt instrument, stated rate (as a percent)			5%
Interest expense	$ 7,100,000	$ 6,100,000
Effective interest rate (as a percent)	5.40%
Amortization of debt issuance costs	$ 200,000	$ 200,000

Commitment and Contingencies (D

Commitment and Contingencies (Details)	Mar. 31, 2023 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Accrued liability for indemnification arrangements	$ 0

Financial Instruments - Amortiz

Financial Instruments - Amortized Cost, Unrealized Gains and Losses, and Fair Value (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022
Debt Securities, Available-for-Sale [Line Items]
Available for sale debt securities	$ 326,916		$ 0
Balance Sheet Classification, Cash and Cash Equivalents	214,526	$ 227,380
Marketable securities	304,561	342,975
U.S. treasury securities
Debt Securities, Available-for-Sale [Line Items]
Balance Sheet Classification, Cash and Cash Equivalents	21,134	2,995
Marketable securities	167,716	201,414
Commercial paper
Debt Securities, Available-for-Sale [Line Items]
Balance Sheet Classification, Cash and Cash Equivalents	0	0
Marketable securities	40,454	41,348
Certificates of deposit
Debt Securities, Available-for-Sale [Line Items]
Marketable securities	9,805	6,116
Corporate notes and obligations
Debt Securities, Available-for-Sale [Line Items]
Balance Sheet Classification, Cash and Cash Equivalents	437	1,519
Marketable securities	41,814	62,201
Asset-backed securities
Debt Securities, Available-for-Sale [Line Items]
Marketable securities	15,852	15,138
U.S. agency securities
Debt Securities, Available-for-Sale [Line Items]
Balance Sheet Classification, Cash and Cash Equivalents	783	6,980
Marketable securities	28,920	16,758
Fair Value, Measurements, Recurring
Debt Securities, Available-for-Sale [Line Items]
Fair Value Measurement, Gross Unrealized Gains	82	41
Fair Value Measurement, Gross Unrealized Losses	(294)	(414)
Total cash, cash equivalents, and marketable securities	519,087	570,355
Debt Securities, Available-For-Sale, Amortized Cost And Cash And Cash Equivalents	519,299	570,728
Fair Value, Inputs, Level 1
Debt Securities, Available-for-Sale [Line Items]
Balance Sheet Classification, Cash and Cash Equivalents	213,306	218,881
Marketable securities	167,716	201,414
Fair Value, Inputs, Level 1 | Fair Value, Measurements, Recurring
Debt Securities, Available-for-Sale [Line Items]
Fair Value Measurement, Gross Unrealized Gains	47	9
Fair Value Measurement, Gross Unrealized Losses	(87)	(180)
Total cash, cash equivalents, and marketable securities	381,022	420,295
Debt Securities, Available-For-Sale, Amortized Cost And Cash And Cash Equivalents	381,062	420,466
Fair Value, Inputs, Level 1 | Fair Value, Measurements, Recurring | U.S. treasury securities
Debt Securities, Available-for-Sale [Line Items]
Fair Value Measurement, Amortized Cost Basis	188,890	204,580
Fair Value Measurement, Gross Unrealized Gains	47	9
Fair Value Measurement, Gross Unrealized Losses	(87)	(180)
Available for sale debt securities	188,850	204,409
Fair Value, Inputs, Level 2
Debt Securities, Available-for-Sale [Line Items]
Balance Sheet Classification, Cash and Cash Equivalents	1,220	8,499
Marketable securities	136,845	141,561
Fair Value, Inputs, Level 2 | Fair Value, Measurements, Recurring
Debt Securities, Available-for-Sale [Line Items]
Fair Value Measurement, Gross Unrealized Gains	35	32
Fair Value Measurement, Gross Unrealized Losses	(207)	(234)
Total cash, cash equivalents, and marketable securities	138,065	150,060
Debt Securities, Available-For-Sale, Amortized Cost And Cash And Cash Equivalents	138,237	150,262
Fair Value, Inputs, Level 2 | Fair Value, Measurements, Recurring | Commercial paper
Debt Securities, Available-for-Sale [Line Items]
Fair Value Measurement, Amortized Cost Basis	40,454	41,348
Available for sale debt securities	40,454	41,348
Fair Value, Inputs, Level 2 | Fair Value, Measurements, Recurring | Certificates of deposit
Debt Securities, Available-for-Sale [Line Items]
Fair Value Measurement, Amortized Cost Basis	9,805	6,116
Available for sale debt securities	9,805	6,116
Fair Value, Inputs, Level 2 | Fair Value, Measurements, Recurring | Corporate notes and obligations
Debt Securities, Available-for-Sale [Line Items]
Fair Value Measurement, Amortized Cost Basis	42,405	63,912
Fair Value Measurement, Gross Unrealized Gains	17	10
Fair Value Measurement, Gross Unrealized Losses	(171)	(202)
Available for sale debt securities	42,251	63,720
Fair Value, Inputs, Level 2 | Fair Value, Measurements, Recurring | Asset-backed securities
Debt Securities, Available-for-Sale [Line Items]
Fair Value Measurement, Amortized Cost Basis	15,876	15,150
Fair Value Measurement, Gross Unrealized Gains	9	17
Fair Value Measurement, Gross Unrealized Losses	(33)	(29)
Available for sale debt securities	15,852	15,138
Fair Value, Inputs, Level 2 | Fair Value, Measurements, Recurring | U.S. agency securities
Debt Securities, Available-for-Sale [Line Items]
Fair Value Measurement, Amortized Cost Basis	29,697	23,736
Fair Value Measurement, Gross Unrealized Gains	9	5
Fair Value Measurement, Gross Unrealized Losses	(3)	(3)
Available for sale debt securities	29,703	23,738
Cash
Debt Securities, Available-for-Sale [Line Items]
Balance Sheet Classification, Cash and Cash Equivalents	188,349	166,341
Cash | Fair Value, Inputs, Level 1 | Fair Value, Measurements, Recurring
Debt Securities, Available-for-Sale [Line Items]
Cash and cash equivalent	188,349	166,341
Money Market Funds
Debt Securities, Available-for-Sale [Line Items]
Balance Sheet Classification, Cash and Cash Equivalents	3,823	49,545	$ 0
Money Market Funds | Fair Value, Inputs, Level 1 | Fair Value, Measurements, Recurring
Debt Securities, Available-for-Sale [Line Items]
Cash and cash equivalent	$ 3,823	$ 49,545

Financial Instruments - Narrati

Financial Instruments - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022
Debt Securities, Available-for-Sale [Line Items]
Cash and cash equivalents	$ 214,526	$ 227,380
Credit losses recorded for available-for-sale debt securities	0
Money Market Funds
Debt Securities, Available-for-Sale [Line Items]
Cash and cash equivalents	3,823	49,545	$ 0
Fair Value, Inputs, Level 2
Debt Securities, Available-for-Sale [Line Items]
Fair value of debt	468,200
Cash and cash equivalents	$ 1,220	$ 8,499

Financial Instruments - Availab

Financial Instruments - Available-for-sale Debt Securities by Contractual Maturity (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Available-for-Sale Securities, Debt Maturities [Abstract]
Due within 1 year	$ 303,101
Due after 1 year through 5 years	23,815
Total available-for-sale debt securities	$ 326,916	$ 0

Financial Instruments - Avail_2

Financial Instruments - Available-for-sale Debt Securities (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Debt Securities, Available-for-Sale [Line Items]
Fair Value	$ 114,533	$ 218,379
Gross Unrealized Losses	(294)	(414)
Asset-backed securities
Debt Securities, Available-for-Sale [Line Items]
Fair Value	10,790	6,598
Gross Unrealized Losses	(33)	(29)
Corporate notes and obligations
Debt Securities, Available-for-Sale [Line Items]
Fair Value	38,204	55,136
Gross Unrealized Losses	(171)	(202)
U.S. treasury securities
Debt Securities, Available-for-Sale [Line Items]
Fair Value	53,570	149,128
Gross Unrealized Losses	(87)	(180)
U.S. agency securities
Debt Securities, Available-for-Sale [Line Items]
Fair Value	11,969	7,517
Gross Unrealized Losses	$ (3)	$ (3)

Share Repurchase Program (Detai

Share Repurchase Program (Details) - USD ($) shares in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Accelerated Share Repurchases [Line Items]
Authorized amount for repurchase			$ 450,000,000
Repurchase of common stock accrued but not yet settled	$ 1,548,000	$ 0
Common Class A
Accelerated Share Repurchases [Line Items]
Common shares repurchased (in shares)	3.9
Common shares repurchased, amount	$ 60,200,000
Repurchase of common stock accrued but not yet settled	1,500,000
Stock repurchase program, remaining authorized amount for future purchase	$ 50,500,000
Share Repurchased under Plan | Common Class A
Accelerated Share Repurchases [Line Items]
Common shares repurchased (in shares)	3.8
Common shares repurchased, amount	$ 60,200,000
Accelerated Share Repurchase Agreement | Common Class A
Accelerated Share Repurchases [Line Items]
Common shares repurchased (in shares)	0.1

Stock-Based Compensation - Tota

Stock-Based Compensation - Total Stock Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation	$ 21,571	$ 20,494
Cost of revenue
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation	227	216
Sales and marketing
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation	3,618	2,628
Research and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation	9,787	8,670
General and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation	$ 7,939	$ 8,980

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($) tranche shares	Mar. 31, 2022 USD ($)	Dec. 31, 2022 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation	$ 21,571	$ 20,494
Total remaining stock-based compensation expense for unvested stock options	$ 2,500
Stock based compensation, weighted average period of recognition (in years)	10 months 24 days
Unvested restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation	$ 19,200	17,700
Unrecognized stock based compensation expense	$ 182,400
Restricted stock units granted (in shares) | shares	3,364,000
Performance-based RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized stock based compensation expense	$ 1,000
Stock based compensation, weighted average period of recognition (in years)	1 year 7 months 6 days
Chief Executive Officer | Unvested restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation	$ 1,500	1,500
Unrecognized stock based compensation expense	$ 11,900
Stock based compensation, weighted average period of recognition (in years)	2 years 2 months 12 days
Restricted stock units granted (in shares) | shares	1,400,000
Number of vesting tranches | tranche	5
Common Class A
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, authorized (in shares) | shares	700,000,000		700,000,000
Shares reserved for issuance (in shares) | shares	3,000,000
Shares purchased under ESPP (in shares) | shares	200,000
Aggregate amount of shares purchased	$ 4,200
Equity Incentive Plan 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, authorized (in shares) | shares	24,100,000
Shares initially reserved for issuance (in shares) | shares	14,200,000
ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation	$ 600	$ 800
Unrecognized stock based compensation expense	800
Accrued employee stock purchase plan contribution	$ 1,700

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Stock Option Activity (Details) - Equity Incentive Plans, 2012, 2014, 2021	3 Months Ended
	Mar. 31, 2023 $ / shares shares
Number of Options Outstanding
Beginning balance (in shares) | shares	6,746,000
Granted (in shares) | shares	0
Exercised (in shares) | shares	(665,000)
Forfeited/cancelled (in shares) | shares	(1,000)
Ending balance (in shares) | shares	6,080,000
Exercisable (in shares) | shares	5,872,000
Weighted Average Exercise Price Per Share
Beginning balance, outstanding (in dollars per share) | $ / shares	$ 2.31
Granted (in dollars per share) | $ / shares	0
Exercised (in dollars per share) | $ / shares	1.95
Forfeited/Cancelled (in dollars per share) | $ / shares	2
Ending balance, outstanding (in dollars per share) | $ / shares	2.35
Exercisable (in dollars per share) | $ / shares	$ 2.35

Stock-Based Compensation - Su_2

Stock-Based Compensation - Summary of RSU Activity (Details) - Unvested restricted stock units	3 Months Ended
	Mar. 31, 2023 $ / shares shares
Number of Shares
Beginning balance (in shares) | shares	7,641,000
Granted (in shares) | shares	3,364,000
Vested (in shares) | shares	(794,000)
Forfeited/Canceled (in shares) | shares	(153,000)
Ending balance (in shares) | shares	10,058,000
Weighted Average Grant Date Fair Value Per Share
Beginning balance (in dollars per share) | $ / shares	$ 21.20
Granted (in dollars per share) | $ / shares	22.50
Vested (in dollars per share) | $ / shares	23.68
Forfeited/Canceled (in dollars per share) | $ / shares	21.79
Ending balance (in dollars per share) | $ / shares	$ 21.42

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Income tax expense (benefit)	$ 3,630	$ (503)
Effective tax rate	42%	(6.40%)
Statutory federal income tax rate	21%	21%

Subsequent Events (Details)

Subsequent Events (Details) - USD ($)	May 09, 2023	Dec. 31, 2022
Subsequent Event [Line Items]
Authorized amount for repurchase		$ 450,000,000
Subsequent Event
Subsequent Event [Line Items]
Stock repurchase program, increased limit	$ 100,000,000