NerdWallet (NRDS) 10-Q 4 Aug 22 2022 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2022	Jul. 28, 2022
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2022
Document Transition Report	false
Entity File Number	001-40994
Entity Registrant Name	NerdWallet, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	45-4180440
Entity Address, Address Line One	55 Hawthorne Street
Entity Address, Address Line Two	11th Floor
Entity Address, City or Town	San Francisco
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94105
City Area Code	415
Local Phone Number	549-8913
Title of 12(b) Security	Class A common stock, $0.0001 par value
Trading Symbol	NRDS
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Amendment Flag	false
Entity Central Index Key	0001625278
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2022
Current Fiscal Year End Date	--12-31
Common Class A
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		42,033,701
Common Class B
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		31,685,652

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 125.8	$ 167.8
Accounts receivable	76.1	57.6
Prepaid expenses and other current assets	20.8	17.4
Total current assets	222.7	242.8
Property, equipment and software — net	43.5	34.9
Goodwill	43.2	43.8
Intangibles — net	23.3	27.6
Right-of-use assets	12.6	13.9
Other assets	0.7	1.1
Total Assets	346	364.1
Current liabilities:
Accounts payable	6.2	3.2
Accrued expenses and other current liabilities	34.2	32.1
Contingent consideration — current	29.9	30.5
Total current liabilities	70.3	65.8
Contingent consideration — noncurrent	0	24.2
Deferred tax liability — noncurrent	0.4	1.8
Other liabilities — noncurrent	11.8	14.7
Total liabilities	82.5	106.5
Commitments and contingencies (Note 5)
Stockholders’ equity:
Preferred stock — $0.0001 par value per share — 5,000 shares authorized as of June 30, 2022 and December 31, 2021; zero shares issued and outstanding as of June 30, 2022 and December 31, 2021	0	0
Common stock — $0.0001 par value per share — 296,686 shares authorized as of June 30, 2022 and December 31, 2021; 68,637 and 66,722 shares issued and outstanding as of June 30, 2022 and December 31, 2021	0	0
Additional paid-in capital	358.6	331.6
Accumulated other comprehensive income (loss)	(0.8)	0.5
Accumulated deficit	(94.3)	(74.5)
Total stockholders’ equity	263.5	257.6
Total Liabilities and Stockholders’ Equity	$ 346	$ 364.1

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares	Jun. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per shares)	$ 0.0001	$ 0.0001
Preferred stock, authorized (in shares)	5,000,000	5,000,000
Preferred stock, issued (in shares)	0	0
Preferred stock, outstanding (in shares)	0	0
Common stock, par value (in dollars per shares)	$ 0.0001	$ 0.0001
Common stock, authorized (in shares)	296,686,000	296,686,000
Common stock, issued (in shares)	68,637,000	66,722,000
Common stock, outstanding (in shares)	68,637,000	66,722,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) shares in Thousands, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Income Statement [Abstract]
Revenue	$ 125.2	$ 91.6	$ 254.3	$ 181.6
Costs and Expenses:
Cost of revenue	8.2	7.3	15.9	13.8
Research and development	20.1	14.8	37.5	27
Sales and marketing	88.8	82.6	184.9	151.2
General and administrative	15.3	8.9	28.4	17.8
Change in fair value of contingent consideration related to earnouts	1.8	0.7	5.7	7.7
Total costs and expenses	134.2	114.3	272.4	217.5
Loss From Operations	(9)	(22.7)	(18.1)	(35.9)
Other income (expense), net:
Interest income	0.1	0	0.1	0
Interest expense	(0.2)	(0.4)	(0.4)	(0.7)
Other gains, net	0	1.3	0	1.2
Total other income (expense), net	(0.1)	0.9	(0.3)	0.5
Loss before income taxes	(9.1)	(21.8)	(18.4)	(35.4)
Income tax provision (benefit)	0.2	(7.9)	1.4	(8.6)
Net Loss	$ (9.3)	$ (13.9)	$ (19.8)	$ (26.8)
Net Loss Per Share Attributable to Common Stockholders
Basic (in dollars per share)	$ (0.14)	$ (0.28)	$ (0.29)	$ (0.55)
Diluted (in dollars per share)	$ (0.14)	$ (0.28)	$ (0.29)	$ (0.55)
Weighted-Average Shares Used in Computing Net Loss Per Share Attributable to Common Stockholders
Basic (in shares)	67,400	49,300	67,200	48,800
Diluted (in shares)	67,400	49,300	67,200	48,800

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Statement of Comprehensive Income [Abstract]
Net loss	$ (9.3)	$ (13.9)	$ (19.8)	$ (26.8)
Other Comprehensive Income (Loss):
Change in foreign currency translation	(1)	0	(1.3)	0.2
Comprehensive Loss	$ (10.3)	$ (13.9)	$ (21.1)	$ (26.6)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (Unaudited) - USD ($) shares in Thousands, $ in Millions	Total	Stock Options	Common Class A	Common Class F	Common Stock	Common Stock Common Class A	Common Stock Common Class F	Additional Paid-in Capital	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit	Accumulated Deficit Stock Options	Accumulated Deficit Common Class A	Accumulated Deficit Common Class F
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)					48,853
Beginning balance at Dec. 31, 2020	$ 82.7				$ 0			$ 99.8	$ 0.6	$ (17.7)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Class A common stock upon exercise of stock options (in shares)					1,076
Issuance of Class A common stock upon exercise of stock options	3.1							3.1
Issuance of Class A common stock pursuant to settlement of restricted stock units (in shares)					50
Class A common stock surrendered for employees’ tax liability upon settlement of restricted stock units (in shares)					(14)
Class A common stock surrendered for employees’ tax liability upon settlement of restricted stock units	(0.2)							(0.2)
Repurchase of common stock (in shares)						(30)	(883)
Repurchase of stock options and common stock		$ (1.4)	$ (0.4)	$ (12.4)							$ (1.4)	$ (0.4)	$ (12.4)
Stock-based compensation	2.8							2.8
Other comprehensive income (loss)	0.2								0.2
Net loss	(12.9)									(12.9)
Ending balance (in shares) at Mar. 31, 2021					49,052
Ending balance at Mar. 31, 2021	61.5				$ 0			105.5	0.8	(44.8)
Beginning balance at Dec. 31, 2020	82.7				$ 0			99.8	0.6	(17.7)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(26.8)
Ending balance (in shares) at Jun. 30, 2021					49,602
Ending balance at Jun. 30, 2021	54.5				$ 0			112.5	0.8	(58.8)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)					49,052
Beginning balance at Mar. 31, 2021	61.5				$ 0			105.5	0.8	(44.8)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Class A common stock upon exercise of stock options (in shares)					436
Issuance of Class A common stock upon exercise of stock options	2.7							2.7
Issuance of Class A common stock pursuant to settlement of restricted stock units (in shares)					166
Class A common stock surrendered for employees’ tax liability upon settlement of restricted stock units (in shares)					(41)
Class A common stock surrendered for employees’ tax liability upon settlement of restricted stock units	(0.8)							(0.8)
Repurchase of common stock (in shares)						(11)
Repurchase of stock options and common stock			$ (0.1)									$ (0.1)
Stock-based compensation	5.1							5.1
Net loss	(13.9)									(13.9)
Ending balance (in shares) at Jun. 30, 2021					49,602
Ending balance at Jun. 30, 2021	54.5				$ 0			112.5	0.8	(58.8)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)					49,602
Beginning balance (in shares)					66,722
Beginning balance at Dec. 31, 2021	257.6				$ 0			331.6	0.5	(74.5)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Class A common stock upon exercise of stock options (in shares)					154
Issuance of Class A common stock upon exercise of stock options	0.7							0.7
Issuance of Class A common stock pursuant to settlement of restricted stock units (in shares)					262
Stock-based compensation	7.9							7.9
Other comprehensive income (loss)	(0.3)								(0.3)
Net loss	(10.5)									(10.5)
Ending balance (in shares) at Mar. 31, 2022					67,138
Ending balance at Mar. 31, 2022	255.4				$ 0			340.2	0.2	(85)
Beginning balance at Dec. 31, 2021	257.6				$ 0			331.6	0.5	(74.5)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Class A common stock upon exercise of stock options (in shares)		783
Net loss	(19.8)
Ending balance (in shares) at Jun. 30, 2022					68,637
Ending balance at Jun. 30, 2022	263.5				$ 0			358.6	(0.8)	(94.3)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)					67,138
Beginning balance at Mar. 31, 2022	255.4				$ 0			340.2	0.2	(85)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Class A common stock upon exercise of stock options (in shares)					629
Issuance of Class A common stock upon exercise of stock options	3.6							3.6
Issuance of Class A common stock pursuant to settlement of restricted stock units (in shares)					400
Issuance of Class A common stock pursuant to settlement of restricted stock units	0
Issuance of Class A common stock under Employee Stock Purchase Plan (in shares)					470
Issuance of Class A common stock under Employee Stock Purchase Plan	3.2							3.2
Stock-based compensation	11.6							11.6
Other comprehensive income (loss)	(1)								(1)
Net loss	(9.3)									(9.3)
Ending balance (in shares) at Jun. 30, 2022					68,637
Ending balance at Jun. 30, 2022	$ 263.5				$ 0			$ 358.6	$ (0.8)	$ (94.3)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)					68,637

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Operating Activities:
Net loss	$ (19.8)	$ (26.8)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	14.8	12.8
Stock-based compensation	16.2	6.5
Change in fair value of contingent consideration related to earnouts	5.7	7.7
Deferred taxes	(1.3)	(9.2)
Non-cash lease costs	1.3	3.8
Other, net	0.5	(1.1)
Changes in operating assets and liabilities:
Accounts receivable	(19.3)	(17.6)
Prepaid expenses and other assets	(3.1)	(4.3)
Accounts payable	2	(0.3)
Accrued expenses and other current liabilities	2.4	14.2
Payment of contingent consideration	(11.5)	0
Operating lease liabilities	(0.9)	(4.2)
Other liabilities	(1.4)	0.4
Net cash used in operating activities	(14.4)	(18.1)
Investing Activities:
Capitalized software development costs	(13)	(10.4)
Purchase of property and equipment	(2.9)	(0.4)
Net cash used in investing activities	(15.9)	(10.8)
Financing Activities:
Payment of contingent consideration	(19)	0
Payment of offering costs related to initial public offering	0	(1.9)
Proceeds from exercise of stock options	4.3	5.8
Issuance of Class A common stock under Employee Stock Purchase Plan	3.2	0
Repurchase of Series A redeemable convertible preferred stock	0	(2.1)
Tax payments related to net-share settlements on restricted stock units	0	(1)
Net cash used in financing activities	(11.5)	(13.5)
Effect of exchange rate changes on cash and cash equivalents	(0.2)	0.1
Net decrease in cash and cash equivalents	(42)	(42.3)
Cash and Cash Equivalents:
Beginning of period	167.8	83.4
End of period	125.8	41.1
Supplemental Disclosures of Non-Cash Investing and Financing Activities:
Capitalized software development costs recorded in accounts payable and accrued expenses and other current liabilities	1.2	0.3
Purchase of property and equipment recorded in accounts payable and accrued expenses and other current liabilities	0.5	1.3
Offering costs related to initial public offering not yet paid	0	0.6
Supplemental Disclosures of Cash Flow Information:
Income tax payments	2	0.3
Cash paid for interest	0.1	1.5
Supplemental Cash Flow Disclosure Related to Operating Leases:
Cash paid for amounts included in the measurement of lease liabilities	1.3	4.6
Stock Options
Financing Activities:
Repurchases of common stock and stock options	0	(1.4)
Common Class A
Financing Activities:
Repurchases of common stock and stock options	0	(0.5)
Common Class F
Financing Activities:
Repurchases of common stock and stock options	$ 0	$ (12.4)

The Company and Basis of Presen

The Company and Basis of Presentation	6 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
The Company and Basis of Presentation	The Company and Basis of Presentation The Company — NerdWallet, Inc., a Delaware corporation, was formed on December 29, 2011. NerdWallet, Inc. and its wholly-owned subsidiaries (collectively, the Company) provide consumer-driven advice about personal finance through its platform by connecting individuals and small and mid-sized businesses (SMBs) with providers of financial products. Basis of Presentation — The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP) and applicable rules and regulations of the U.S. Securities and Exchange Commission (SEC) regarding interim financial reporting. Accordingly, the accompanying condensed consolidated financial statements do not include all disclosures normally required in annual consolidated financial statements prepared in accordance with GAAP. The accompanying condensed consolidated financial statements should be read in conjunction with the Company’s audited financial statements and notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021. In the opinion of management, the accompanying unaudited interim condensed consolidated financial statements have been prepared on the same basis as the audited financial statements, and include all adjustments, consisting only of normal recurring adjustments, necessary for the fair statement of the Company’s financial position and results of operations for the periods presented. The accompanying 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 results of operations for the three and six months ended June 30, 2022 are not necessarily indicative of the results to be expected for the full year or any other future period. Acquisition of On the Barrelhead, Inc. — On June 23, 2022, the Company entered into an Agreement and Plan of Merger and Reorganization (the Merger Agreement) with On the Barrelhead, Inc. (OTB), a data-driven platform that provides consumers and SMBs with credit-driven product recommendations. Under the terms of the Merger Agreement, the aggregate consideration to be paid by the Company to acquire all of the equity interests in OTB, subject to customary adjustments (the Purchase Price), was to consist of approximately $70 million in cash and approximately 4.9 million shares of the Company’s Class A common stock (the Stock Consideration). The Company recognized acquisition-related expenses of $2.2 million for the three and six months ended June 30, 2022 which are included in general and administrative expense on the Company’s condensed consolidated statements of operations. See Note 9 — Subsequent Event for further discussion. Significant Accounting Policies — During the six months ended June 30, 2022, there have been no material changes to the Company’s significant accounting policies as disclosed in Note 1 – The Company and its Significant Accounting Policies in the notes to the consolidated financial statements in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021. Recently Adopted Accounting Pronouncements — In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses, Measurement of Credit Losses on Financial Instruments , establishing ASC Topic 326, and amended the guidance thereafter (ASC 326). ASC 326 requires the measurement and recognition of expected credit losses for financial assets held at amortized cost; the Company’s financial assets that are in the scope of ASC 326 includes the Company’s accounts receivable, certain financial instruments and contract assets. ASC 326 replaces the prior incurred loss impairment model with an expected loss methodology, which results in more timely recognition of credit losses. The Company adopted the provisions of ASC 326 as of January 1, 2022 (two years after the effective date for public business entities due to the Company’s election under its EGC status), and such adoption did not have an impact on the Company’s financial condition and results of operations within its condensed consolidated financial statements. In October 2021, the Financial Accounting Standards Board (FASB) issued ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers (ASU 2021-08), to address diversity and inconsistency related to the recognition and measurement of contract assets and contract liabilities acquired in a business combination. The guidance in ASU 2021-08 states that an acquirer should recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with ASC Topic 606, Revenue from Contracts with Customers

Revenue

Revenue	6 Months Ended
	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Revenue	Revenue The following presents a disaggregation of the Company’s revenue based on product category: Three Months Ended Six Months Ended (in millions) 2022 2021 2022 2021 Credit cards $ 54.6 $ 29.9 $ 99.8 $ 52.8 Loans 24.0 32.3 58.3 64.6 Other verticals 46.6 29.4 96.2 64.2 Total revenue $ 125.2 $ 91.6 $ 254.3 $ 181.6 The contract asset recorded within prepaid expenses and other current assets on the condensed consolidated balance sheet related to estimated variable consideration was $5.0 million and $3.0 million as of June 30, 2022 and December 31, 2021, respectively.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The Company’s assets and liabilities that are measured at fair value on a recurring basis, by level, within the fair value hierarchy are summarized as follows: (in millions) Quoted Prices Other Significant Total As of June 30, 2022 Assets: Cash and cash equivalents — money market funds $ 123.0 $ — $ — $ 123.0 Certificate of deposit — 2.0 — 2.0 $ 123.0 $ 2.0 $ — $ 125.0 Liabilities: Contingent consideration $ — $ — $ 29.9 $ 29.9 (in millions) Quoted Prices Other Significant Total As of December 31, 2021 Assets: Cash and cash equivalents — money market funds $ 164.9 $ — $ — $ 164.9 Certificate of deposit — 2.0 — 2.0 $ 164.9 $ 2.0 $ — $ 166.9 Liabilities: Contingent consideration $ — $ — $ 54.7 $ 54.7 Level 3 liabilities consist entirely of contingent consideration, and the changes in fair value are as follows: Three Months Ended Six Months Ended (in millions) 2022 2021 2022 2021 Balance as of beginning of period $ 58.6 $ 43.5 $ 54.7 $ 36.5 Payment (30.5) — (30.5) — Change in fair value, recognized in earnings 1.8 0.7 5.7 7.7 Balance as of end of period $ 29.9 $ 44.2 $ 29.9 $ 44.2

Significant Condensed Consolida

Significant Condensed Consolidated Balance Sheet Components	6 Months Ended
	Jun. 30, 2022
Significant Consolidated Balance Sheet Components [Abstract]
Significant Consolidated Balance Sheet Components	Significant Condensed Consolidated Balance Sheet Components Property, equipment and software, net includes capitalized software development costs, net of accumulated amortization, of $38.7 million and $32.1 million as of June 30, 2022 and December 31, 2021, respectively. The Company capitalized $8.9 million and $16.9 million of software development costs during the three and six months ended June 30, 2022, respectively, and $6.1 million and $11.9 million during the three and six months ended June 30, 2021, respectively. The Company recorded amortization expense related to capitalized software development costs of $5.4 million and $10.3 million during the three and six months ended June 30, 2022, respectively, and $4.0 million and $7.8 million during the three and six months ended June 30, 2021, respectively. Accrued expenses and other current liabilities Other liabilities — noncurrent

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Commitments and Other Financial Arrangements — The Company has certain financial commitments and other arrangements including unused letters of credit and commitments under leases. As of June 30, 2022, there were no material changes to the Company’s commitments and other financial arrangements as disclosed in Note 8 – Commitments and Contingencies in the notes to the consolidated financial statements in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021. On July 7, 2022, the Company borrowed $70.0 million under the Company’s existing credit facility with Silicon Valley Bank as administrative agent to finance the cash portion of the Purchase Price for the acquisition of OTB. See Note 9 — Subsequent Event for further discussion. Litigation and Other Legal Matters — The Company is involved from time to time in litigation, claims, and proceedings. Periodically, the Company evaluates the status of each legal matter and assesses potential financial exposure. If the potential loss from any legal proceeding or litigation is considered probable and the amount can be reasonably estimated, the Company accrues a liability for the estimated loss. Significant judgment is required to determine the probability of a loss and whether the amount of the loss is reasonably estimable. The outcome of any proceeding is not determinable in advance. As a result, the assessment of a potential liability and the amount of accruals recorded are based only on the information available at the time. As additional information becomes available, the Company reassesses the potential liability related to the legal proceeding or litigation, and may revise its estimates. Management is not currently aware of any matters that it expects will have a material effect on the financial position, results of operations, or cash flows of the Company. The Company has not accrued any potential loss as of June 30, 2022 or December 31, 2021.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2022
Equity [Abstract]
Stockholders' Equity	Stockholders’ Equity Equity Incentive Plans — The 2021 Equity Incentive Plan and the predecessor 2012 Equity Incentive Plan, both as amended, (collectively, the Plans) provide for the grant of incentive and non-statutory stock options, stock appreciation rights, restricted stock units and restricted stock awards to employees, non-employee directors and consultants of the Company. At the Company’s 2022 annual meeting of stockholders on May 25, 2022, the stockholders approved an amendment to the 2021 Equity Incentive Plan to increase the aggregate number of shares of Class A common stock reserved for issuance thereunder by 8.0 million shares. Stock Options — A summary of the Company’s stock option activity for its Plans is as follows: Outstanding Weighted- Weighted- Aggregate Intrinsic Value Balance as of December 31, 2021 6,443 $ 8.84 6.5 $ 45.3 Granted 725 $ 12.64 Exercised (783) $ 5.64 Cancelled/forfeited (218) $ 10.31 Balance as of June 30, 2022 6,167 $ 9.64 6.8 $ 8.3 Vested and exercisable as of June 30, 2022 3,897 $ 7.18 5.6 $ 8.3 The weighted-average grant-date fair value of options granted was $6.49 per share during the six months ended June 30, 2022. The aggregate intrinsic value of options exercised was $4.1 million during the six months ended June 30, 2022. The per-share fair value of each stock option was determined on the date of grant using the following weighted-average assumptions and ranges of fair value of common stock: Six Months Ended 2022 2021 Expected volatility 51.9 % 54.5 % Expected term (in years) 6.0 6.0 Expected dividend yield 0 % 0 % Risk-free interest rate 2.4 % 1.1 % Restricted Stock Units — A summary of the Company’s outstanding nonvested restricted stock units (RSUs) for its Plans is as follows: Number of Units Weighted-Average Nonvested as of December 31, 2021 3,818 $ 18.07 Granted 3,439 $ 11.59 Vested (662) $ 16.52 Forfeited (550) $ 16.62 Nonvested as of June 30, 2022 6,045 $ 14.64 The total fair value of shares that vested under RSUs was $7.6 million during the six months ended June 30, 2022. Employee Stock Purchase Plan — The Company recognized stock-based compensation related to the Employee Stock Purchase Plan (ESPP) of $2.6 million and $3.9 million during the three and six months ended June 30, 2022, respectively. Stock-Based Compensation — The Company recognized stock-based compensation under the Plans and ESPP as follows: Three Months Ended Six Months Ended (in millions) 2022 2021 2022 2021 Research and development $ 3.6 $ 1.5 $ 6.2 $ 2.4 Sales and marketing 3.6 1.5 5.7 2.3 General and administrative 2.5 1.2 4.3 1.8 Total stock-based compensation $ 9.7 $ 4.2 $ 16.2 $ 6.5 In addition, stock-based compensation capitalized related to software development costs was $1.9 million and $0.9 million during the three months ended June 30, 2022 and 2021, respectively, and $3.3 million and $1.4 million during the six months ended June 30, 2022 and 2021, respectively.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income TaxesThe Company’s tax provision for interim periods is determined using an estimated annual effective tax rate which is adjusted for discrete items occurring during the periods presented. As of June 30, 2022, the Company has established a valuation allowance against its net U.S. deferred tax assets as the Company believes that it is more likely than not that the Company will not be able to fully realize such net deferred tax assets. The Company’s judgment regarding the likelihood of realization of these deferred tax assets could change in future periods, which could result in a material impact in the Company’s income tax provision in the period of change.

Net Loss Per Basic and Diluted

Net Loss Per Basic and Diluted Share	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Net Loss Per Basic and Diluted Share	Net Loss Per Basic and Diluted Share The Company computes earnings per share (EPS) in conformity with the two-class method required for participating securities. The two-class method is an earnings allocation method that determines net income (loss) per share for each class of common stock and participating securities according to dividends declared (or accumulated) and participation rights in undistributed earnings or losses. We consider early exercised share options to be participating securities. There were no early exercised share options for the three and six months ended June 30, 2022, and the impact of early exercised share options on basic and diluted EPS was immaterial for the three and six months ended June 30, 2021. The following table provides the basic and diluted per share computations for net loss attributable to common stockholders: Three Months Ended Six Months Ended (in millions, except per share amounts) 2022 2021 2022 2021 Numerator: Net loss attributable to common stockholders — basic and diluted $ (9.3) $ (13.9) $ (19.8) $ (26.8) Denominator: Weighted-average shares of common stock — basic and diluted 67.4 49.3 67.2 48.8 Loss per share attributable to common stockholders: Basic $ (0.14) $ (0.28) $ (0.29) $ (0.55) Diluted $ (0.14) $ (0.28) $ (0.29) $ (0.55) The following common stock equivalents were excluded from the computation of diluted loss per share for the periods presented because including them would have been antidilutive: Three Months Ended Six Months Ended (in millions) 2022 2021 2022 2021 Shares subject to outstanding stock options and restricted stock units 10.7 5.1 9.1 5.3 ESPP 2.0 — 1.8 — Series A redeemable convertible preferred stock — 7.6 — 7.6

Subsequent Event

Subsequent Event	6 Months Ended
	Jun. 30, 2022
Subsequent Events [Abstract]
Subsequent Event	Subsequent Event Acquisition of On the Barrelhead, Inc. On July 7, 2022, the Company borrowed $70.0 million under the Company’s existing credit facility with Silicon Valley Bank as administrative agent to finance the cash portion of the Purchase Price for the acquisition of OTB. Interest on the borrowing is incurred at the Eurodollar Rate, which is defined as LIBOR (or any successor thereto), plus a margin of 2.75%, equating to 4.54% as of July 7, 2022. On July 11, 2022, the Company completed the acquisition of OTB for a preliminary acquisition date purchase consideration consisting of approximately $70 million in cash consideration and 4.9 million shares of the Company’s Class A common stock for Stock Consideration. The preliminary cash consideration includes approximately $12 million of cash which is held in escrow for the settlement of certain customary representations, warranties, agreements and covenants. The aggregate fair value of the Stock Consideration was approximately $43 million based on the closing price of the Company’s Class A common stock on the acquisition date. Half of the Stock Consideration is subject to a lockup arrangement whereby such shares may not be sold or otherwise transferred prior to expiration of the 24-month period following the acquisition date. The final Purchase Price will be subject to customary closing adjustments, including for transaction expenses, indebtedness, cash and working capital. Concurrently with the closing of the acquisition, the Company provided employment offer letters to OTB’s employees, including compensatory retention agreements with the co-founders of OTB which could result in up to $15.0 million of cash awards. Cash awards under these retention agreements are payable in equal installments on the first, second and third anniversary dates of the closing of the acquisition. Also concurrently with the closing of the acquisition, the Compensation Committee of the Company’s Board of Directors granted RSU awards under the NerdWallet, Inc. 2022 Inducement Equity Incentive Plan (the Inducement Plan) to employees of OTB who were offered employment with the Company, which RSU awards had an aggregate grant date fair value on the acquisition date of $17.5 million, including $12.8 million of RSU awards to the co-founders of OTB, $2.3 million of RSU awards to six non-management employees of OTB and $2.4 million of RSU awards to all fourteen employees of OTB. The $12.8 million of RSU awards to the co-founders of OTB will generally vest in full upon the third anniversary of the closing of the acquisition. The $2.3 million of RSU awards to non-management employees of OTB will vest annually over four years, with 20% of the RSUs subject to vest on each of the first, second and third annual vesting dates and the remaining 40% of the RSUs subject to vest on the fourth annual vesting date. The $2.4 million of RSU awards granted to all employees of OTB will generally vest over four years subject to a one-year cliff and quarterly vesting thereafter. RSU awards under the Inducement Plan are subject to the conditions of the Inducement Plan and the terms and conditions of the grant agreements covering such awards. Compensation expenses under these employment offer letters and vesting of awards under these retention agreements and Inducement Plan are generally subject to the employees’ continued employment with the Company, and the fair value of such compensation and awards are excluded from the Purchase Price and accounted for separately from the business combination. The value of cash awards under these retention agreements will be recognized as compensation expense ratably over the three-year period following the close of the acquisition. The value of RSU awards under the Inducement Plan will be recognized as stock-based compensation expense ratably over the respective vesting terms of the awards. The acquisition will be accounted for as a business combination. The Company is in the process of determining the fair values of intangible and tangible assets acquired and liabilities assumed, including review of third-party valuations. Accordingly, the Company is not able to provide the preliminary allocation of consideration paid to the assets acquired and liabilities assumed. Further, the supplemental pro forma revenue and loss of the combined company are predicated on the completion of the business combination accounting and allocation of consideration paid. Although the initial accounting for the business combination is incomplete, the Company believes the goodwill recorded will be primarily attributable to synergies from combining the operations of the Company and OTB as well as the value ascribed to the knowledge and experience of the OTB co-founders and employees. For income tax purposes, the acquisition is a stock purchase and goodwill is not tax deductible.

The Company and Basis of Pres_2

The Company and Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation — The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP) and applicable rules and regulations of the U.S. Securities and Exchange Commission (SEC) regarding interim financial reporting. Accordingly, the accompanying condensed consolidated financial statements do not include all disclosures normally required in annual consolidated financial statements prepared in accordance with GAAP. The accompanying condensed consolidated financial statements should be read in conjunction with the Company’s audited financial statements and notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021.
Consolidation	The accompanying 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 results of operations for the three and six months ended June 30, 2022 are not necessarily indicative of the results to be expected for the full year or any other future period.
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements — In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses, Measurement of Credit Losses on Financial Instruments , establishing ASC Topic 326, and amended the guidance thereafter (ASC 326). ASC 326 requires the measurement and recognition of expected credit losses for financial assets held at amortized cost; the Company’s financial assets that are in the scope of ASC 326 includes the Company’s accounts receivable, certain financial instruments and contract assets. ASC 326 replaces the prior incurred loss impairment model with an expected loss methodology, which results in more timely recognition of credit losses. The Company adopted the provisions of ASC 326 as of January 1, 2022 (two years after the effective date for public business entities due to the Company’s election under its EGC status), and such adoption did not have an impact on the Company’s financial condition and results of operations within its condensed consolidated financial statements. In October 2021, the Financial Accounting Standards Board (FASB) issued ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers (ASU 2021-08), to address diversity and inconsistency related to the recognition and measurement of contract assets and contract liabilities acquired in a business combination. The guidance in ASU 2021-08 states that an acquirer should recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with ASC Topic 606, Revenue from Contracts with Customers

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	The following presents a disaggregation of the Company’s revenue based on product category: Three Months Ended Six Months Ended (in millions) 2022 2021 2022 2021 Credit cards $ 54.6 $ 29.9 $ 99.8 $ 52.8 Loans 24.0 32.3 58.3 64.6 Other verticals 46.6 29.4 96.2 64.2 Total revenue $ 125.2 $ 91.6 $ 254.3 $ 181.6

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	The Company’s assets and liabilities that are measured at fair value on a recurring basis, by level, within the fair value hierarchy are summarized as follows: (in millions) Quoted Prices Other Significant Total As of June 30, 2022 Assets: Cash and cash equivalents — money market funds $ 123.0 $ — $ — $ 123.0 Certificate of deposit — 2.0 — 2.0 $ 123.0 $ 2.0 $ — $ 125.0 Liabilities: Contingent consideration $ — $ — $ 29.9 $ 29.9 (in millions) Quoted Prices Other Significant Total As of December 31, 2021 Assets: Cash and cash equivalents — money market funds $ 164.9 $ — $ — $ 164.9 Certificate of deposit — 2.0 — 2.0 $ 164.9 $ 2.0 $ — $ 166.9 Liabilities: Contingent consideration $ — $ — $ 54.7 $ 54.7
Schedule of Level 3 Liabilities	Level 3 liabilities consist entirely of contingent consideration, and the changes in fair value are as follows: Three Months Ended Six Months Ended (in millions) 2022 2021 2022 2021 Balance as of beginning of period $ 58.6 $ 43.5 $ 54.7 $ 36.5 Payment (30.5) — (30.5) — Change in fair value, recognized in earnings 1.8 0.7 5.7 7.7 Balance as of end of period $ 29.9 $ 44.2 $ 29.9 $ 44.2

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2022
Equity [Abstract]
Schedule of Stock Options	A summary of the Company’s stock option activity for its Plans is as follows: Outstanding Weighted- Weighted- Aggregate Intrinsic Value Balance as of December 31, 2021 6,443 $ 8.84 6.5 $ 45.3 Granted 725 $ 12.64 Exercised (783) $ 5.64 Cancelled/forfeited (218) $ 10.31 Balance as of June 30, 2022 6,167 $ 9.64 6.8 $ 8.3 Vested and exercisable as of June 30, 2022 3,897 $ 7.18 5.6 $ 8.3
Schedule of Weighted-Average Assumptions and Ranges of Fair Value of Common Stock	The per-share fair value of each stock option was determined on the date of grant using the following weighted-average assumptions and ranges of fair value of common stock: Six Months Ended 2022 2021 Expected volatility 51.9 % 54.5 % Expected term (in years) 6.0 6.0 Expected dividend yield 0 % 0 % Risk-free interest rate 2.4 % 1.1 %
Schedule of Outstanding Nonvested RSUs	A summary of the Company’s outstanding nonvested restricted stock units (RSUs) for its Plans is as follows: Number of Units Weighted-Average Nonvested as of December 31, 2021 3,818 $ 18.07 Granted 3,439 $ 11.59 Vested (662) $ 16.52 Forfeited (550) $ 16.62 Nonvested as of June 30, 2022 6,045 $ 14.64
Schedule of Stock-based Compensation Expense	The Company recognized stock-based compensation under the Plans and ESPP as follows: Three Months Ended Six Months Ended (in millions) 2022 2021 2022 2021 Research and development $ 3.6 $ 1.5 $ 6.2 $ 2.4 Sales and marketing 3.6 1.5 5.7 2.3 General and administrative 2.5 1.2 4.3 1.8 Total stock-based compensation $ 9.7 $ 4.2 $ 16.2 $ 6.5

Net Loss Per Basic and Dilute_2

Net Loss Per Basic and Diluted Share (Tables)	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following table provides the basic and diluted per share computations for net loss attributable to common stockholders: Three Months Ended Six Months Ended (in millions, except per share amounts) 2022 2021 2022 2021 Numerator: Net loss attributable to common stockholders — basic and diluted $ (9.3) $ (13.9) $ (19.8) $ (26.8) Denominator: Weighted-average shares of common stock — basic and diluted 67.4 49.3 67.2 48.8 Loss per share attributable to common stockholders: Basic $ (0.14) $ (0.28) $ (0.29) $ (0.55) Diluted $ (0.14) $ (0.28) $ (0.29) $ (0.55)
Schedule of Antidilutive Securities Excluded from Computation of Diluted Earnings (Loss) Per Share	The following common stock equivalents were excluded from the computation of diluted loss per share for the periods presented because including them would have been antidilutive: Three Months Ended Six Months Ended (in millions) 2022 2021 2022 2021 Shares subject to outstanding stock options and restricted stock units 10.7 5.1 9.1 5.3 ESPP 2.0 — 1.8 — Series A redeemable convertible preferred stock — 7.6 — 7.6

The Company and Basis of Pres_3

The Company and Basis of Presentation (Details) - On the Barrelhead, Inc. - USD ($) $ in Millions	Jun. 23, 2022	Jun. 30, 2022
Business Acquisition [Line Items]
Cash paid for acquisition	$ 70
Acquisition-related costs		$ 2.2
Common Class A
Business Acquisition [Line Items]
Shares transferred for acquisition	$ 4.9

Revenue (Details)

Revenue (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Revenue	$ 125.2	$ 91.6	$ 254.3	$ 181.6
Contract assets	5		5		$ 3
Credit cards
Disaggregation of Revenue [Line Items]
Revenue	54.6	29.9	99.8	52.8
Loans
Disaggregation of Revenue [Line Items]
Revenue	24	32.3	58.3	64.6
Other verticals
Disaggregation of Revenue [Line Items]
Revenue	$ 46.6	$ 29.4	$ 96.2	$ 64.2

Fair Value Measurements - Asset

Fair Value Measurements - Assets and Liabilities Measured on Recurring Basis (Details) - Recurring Basis - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Assets:
Assets	$ 125	$ 166.9
Liabilities:
Contingent consideration	29.9	54.7
Certificate of deposit
Assets:
Certificate of deposit	2	2
Money Market Funds
Assets:
Cash and cash equivalents — money market funds	123	164.9
Quoted Prices in Active Markets (Level 1)
Assets:
Assets	123	164.9
Liabilities:
Contingent consideration	0	0
Quoted Prices in Active Markets (Level 1) | Certificate of deposit
Assets:
Certificate of deposit	0	0
Quoted Prices in Active Markets (Level 1) | Money Market Funds
Assets:
Cash and cash equivalents — money market funds	123	164.9
Other Observable Inputs (Level 2)
Assets:
Assets	2	2
Liabilities:
Contingent consideration	0	0
Other Observable Inputs (Level 2) | Certificate of deposit
Assets:
Certificate of deposit	2	2
Other Observable Inputs (Level 2) | Money Market Funds
Assets:
Cash and cash equivalents — money market funds	0	0
Significant Unobservable Inputs (Level 3)
Assets:
Assets	0	0
Liabilities:
Contingent consideration	29.9	54.7
Significant Unobservable Inputs (Level 3) | Certificate of deposit
Assets:
Certificate of deposit	0	0
Significant Unobservable Inputs (Level 3) | Money Market Funds
Assets:
Cash and cash equivalents — money market funds	$ 0	$ 0

Fair Value Measurements - Level

Fair Value Measurements - Level 3 Liabilities (Details) - Contingent Consideration - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance as of beginning of period	$ 29.9	$ 44.2	$ 29.9	$ 44.2	$ 58.6	$ 54.7	$ 43.5	$ 36.5
Payment	(30.5)	0	(30.5)	0
Change in fair value, recognized in earnings	1.8	0.7	5.7	7.7
Balance as of end of period	$ 29.9	$ 44.2	$ 29.9	$ 44.2

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details)	Jun. 30, 2022	Dec. 31, 2021
Volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent consideration, measurement input	0.575	0.455
Discount Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent consideration, measurement input	0.110	0.090

Significant Condensed Consoli_2

Significant Condensed Consolidated Balance Sheet Components (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Significant Consolidated Balance Sheet Components [Abstract]
Capitalized software development costs, net of accumulated amortization	$ 38.7		$ 38.7		$ 32.1
Capitalized software development costs	8.9	$ 6.1	16.9	$ 11.9
Amortization of capitalized software	$ 5.4	$ 4	$ 10.3	$ 7.8
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accrued expenses and other current liabilities		Accrued expenses and other current liabilities		Accrued expenses and other current liabilities
Accrued expenses and other current liabilities including operating lease liabilities	$ 3		$ 3		$ 2.4
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other liabilities — noncurrent		Other liabilities — noncurrent		Other liabilities — noncurrent
Other liabilities noncurrent including operating lease liabilities	$ 11.2		$ 11.2		$ 12.7

Commitment and Contingencies (D

Commitment and Contingencies (Details) $ in Millions	Jul. 07, 2022 USD ($)
Subsequent Event | Line of Credit | Revolving Credit Facility
Long-Term Purchase Commitment [Line Items]
Proceeds from credit facility	$ 70

Stockholders' Equity - Equity I

Stockholders' Equity - Equity Incentive Plans (Details) shares in Millions	May 25, 2022 shares
Common Class A | 2021 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved for Class A common stock (in shares)	8

Stockholders' Equity - Stock Op

Stockholders' Equity - Stock Option Activity (Details) - Stock Options - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	3 Months Ended	6 Months Ended
	Mar. 31, 2022	Jun. 30, 2022	Dec. 31, 2021
Outstanding Stock Options (in thousands)
Beginning of period (in shares)	6,443	6,443
Granted (in shares)		725
Exercised (in shares)		(783)
Cancelled/forfeited (in shares)		(218)
End of period (in shares)		6,167
Vested and exercisable at end of period (in shares)		3,897
Weighted- Average Exercise Price
Beginning of period (in dollars per share)	$ 8.84	$ 8.84
Granted (in dollars per share)		12.64
Exercised (in dollars per share)		5.64
Cancelled/forfeited (in dollars per share)		10.31
End of period (in dollars per share)		9.64
Vested and exercisable at end of period, weighted average exercise price (in dollars per share)		$ 7.18
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Weighted average contractual life, outstanding	6 years 6 months	6 years 9 months 18 days
Weighted average contractual life, shares vested and exercisable		5 years 7 months 6 days
Aggregate intrinsic value, outstanding		$ 8.3	$ 45.3
Aggregate intrinsic value, shares vested and exercisable		$ 8.3

Stockholders' Equity - Stock _2

Stockholders' Equity - Stock Option Activity Narrative (Details) - Stock Options $ / shares in Units, $ in Millions	6 Months Ended
	Jun. 30, 2022 USD ($) $ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, weighted average grant-date fair value (in dollars per share) | $ / shares	$ 6.49
Aggregate intrinsic value, options exercised in period | $	$ 4.1

Stockholders' Equity - Stock _3

Stockholders' Equity - Stock Option Valuation Assumptions (Details) - Stock Options	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	51.90%	54.50%
Expected term (in years)	6 years	6 years
Expected dividend yield	0%	0%
Risk-free interest rate	2.40%	1.10%

Stockholders' Equity - Restrict

Stockholders' Equity - Restricted Stock Unit Activity (Details) - Restricted Stock Units (RSUs) $ / shares in Units, shares in Thousands, $ in Millions	6 Months Ended
	Jun. 30, 2022 USD ($) $ / shares shares
Number of Units (in thousands)
Beginning of period, nonvested (in shares) | shares	3,818
Granted (in shares) | shares	3,439
Vested (in shares) | shares	(662)
Forfeited (in shares) | shares	(550)
End of period, nonvested (in shares) | shares	6,045
Weighted-Average Grant-Date Fair Value
Beginning of period, nonvested weighted average grant date fair value (in dollars per share) | $ / shares	$ 18.07
Granted (in dollars per share) | $ / shares	11.59
Vested (in dollars per share) | $ / shares	16.52
Forfeited (in dollars per share) | $ / shares	16.62
End of period, nonvested weighted average grant date fair value (in dollars per share) | $ / shares	$ 14.64
Fair value of shares vested under RSUs during period | $	$ 7.6

Stockholders' Equity - Employee

Stockholders' Equity - Employee Stock Purchase Plan (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 9.7	$ 4.2	$ 16.2	$ 6.5
ESPP | Class A Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 2.6		$ 3.9

Stockholders' Equity - Stock-Ba

Stockholders' Equity - Stock-Based Compensation Expense (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expense	$ 9.7	$ 4.2	$ 16.2	$ 6.5
Share-based compensation capitalized	1.9	0.9	3.3	1.4
Research and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expense	3.6	1.5	6.2	2.4
Sales and marketing
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expense	3.6	1.5	5.7	2.3
General and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expense	$ 2.5	$ 1.2	$ 4.3	$ 1.8

Net Loss Per Basic and Dilute_3

Net Loss Per Basic and Diluted Share - Basic and Diluted Per Share Computations for Net Loss (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Numerator:
Net loss attributable to common stockholders – basic	$ (9.3)	$ (13.9)	$ (19.8)	$ (26.8)
Net loss attributable to common stockholders – diluted	$ (9.3)	$ (13.9)	$ (19.8)	$ (26.8)
Denominator:
Weighted-average shares of common stock – basic (in shares)	67,400	49,300	67,200	48,800
Weighted-average shares of common stock - diluted (in shares)	67,400	49,300	67,200	48,800
Loss per share attributable to common stockholders: Basic (in dollars per share)	$ (0.14)	$ (0.28)	$ (0.29)	$ (0.55)
Loss per share attributable to common stockholders: Diluted (in dollars per share)	$ (0.14)	$ (0.28)	$ (0.29)	$ (0.55)

Net Loss Per Basic and Dilute_4

Net Loss Per Basic and Diluted Share - Schedule of Antidilutive Securities Excluded from Computation (Details) - shares shares in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Shares subject to outstanding stock options and restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	10.7	5.1	9.1	5.3
ESPP
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	2	0	1.8	0
Series A redeemable convertible preferred stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	0	7.6	0	7.6

Subsequent Event - Narrative (D

Subsequent Event - Narrative (Details) shares in Millions, $ in Millions	Jul. 11, 2022 USD ($) employee shares	Jul. 07, 2022 USD ($)	Jun. 23, 2022 USD ($)
On the Barrelhead, Inc.
Subsequent Event [Line Items]
Cash paid for acquisition			$ 70
On the Barrelhead, Inc. | Common Class A
Subsequent Event [Line Items]
Shares transferred for acquisition			$ 4.9
Subsequent Event | On the Barrelhead, Inc.
Subsequent Event [Line Items]
Cash paid for acquisition	$ 70
Shares issued for acquisition (in shares) | shares	4.9
Cash held in escrow	$ 12
Subsequent Event | On the Barrelhead, Inc. | Common Class A
Subsequent Event [Line Items]
Shares transferred for acquisition	$ 43
Lockup arrangement period for half of Stock Consideration	24 months
Subsequent Event | On the Barrelhead, Inc. | Co-founders
Subsequent Event [Line Items]
Compensation expense	$ 15
Subsequent Event | On the Barrelhead, Inc. | Co-founders | Restricted Stock Units (RSUs)
Subsequent Event [Line Items]
Restricted stock awards granted	12.8
Subsequent Event | On the Barrelhead, Inc. | Director | Restricted Stock Units (RSUs)
Subsequent Event [Line Items]
Restricted stock awards granted	17.5
Subsequent Event | On the Barrelhead, Inc. | Non-management Employees | Restricted Stock Units (RSUs)
Subsequent Event [Line Items]
Restricted stock awards granted	$ 2.3
Number of employees | employee	6
Award vesting period (in years)		4 years
Subsequent Event | On the Barrelhead, Inc. | Non-management Employees | Restricted Stock Units (RSUs) | First, Second And Third Vesting Year
Subsequent Event [Line Items]
Award vesting rights percentage	20%
Subsequent Event | On the Barrelhead, Inc. | Non-management Employees | Restricted Stock Units (RSUs) | Fourth Vesting Year
Subsequent Event [Line Items]
Award vesting rights percentage	40%
Subsequent Event | On the Barrelhead, Inc. | Management | Restricted Stock Units (RSUs)
Subsequent Event [Line Items]
Restricted stock awards granted	$ 2.4
Number of employees | employee	14
Subsequent Event | Line of Credit
Subsequent Event [Line Items]
Basis spread on variable interest rate		4.54%
Subsequent Event | Line of Credit | Revolving Credit Facility
Subsequent Event [Line Items]
Proceeds from credit facility		$ 70
Subsequent Event | Line of Credit | London Interbank Offered Rate (LIBOR)
Subsequent Event [Line Items]
Basis spread on variable interest rate		2.75%