NerdWallet (NRDS) 10-Q 29 Oct 24 2024 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2024	Oct. 22, 2024
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
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	10th 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	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	Q3
Document Fiscal Year Focus	2024
Current Fiscal Year End Date	--12-31
Common Class A
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		41,753,215
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	Sep. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 71.7	$ 100.4
Accounts receivable—net	102.8	75.5
Prepaid expenses and other current assets	19.2	22.5
Total current assets	193.7	198.4
Property, equipment and software—net	45.3	52.6
Goodwill	111.8	111.5
Intangible assets—net	36.7	46.9
Right-of-use assets	5.4	7.2
Other assets	9.5	2
Total Assets	402.4	418.6
Current liabilities:
Accounts payable	12.4	1.7
Accrued expenses and other current liabilities	54.1	35.6
Total current liabilities	66.5	37.3
Other liabilities—noncurrent	13.5	14.4
Total liabilities	80	51.7
Commitments and contingencies (Note 5)
Stockholders’ equity:
Preferred stock—$0.0001 par value per share—5,000 shares authorized; zero shares issued and outstanding	0	0
Common stock—$0.0001 par value per share—296,686 shares authorized; 74,028 and 76,940 shares issued and outstanding as of September 30, 2024 and December 31, 2023	0	0
Additional paid-in capital	519.3	483.7
Accumulated other comprehensive loss	0	(0.3)
Accumulated deficit	(196.9)	(116.5)
Total stockholders’ equity	322.4	366.9
Total Liabilities and Stockholders’ Equity	$ 402.4	$ 418.6

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares	Sep. 30, 2024	Dec. 31, 2023
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)	74,028,000	76,940,000
Common stock, outstanding (in shares)	74,028,000	76,940,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Statement [Abstract]
Revenue	$ 191.3	$ 152.8	$ 503.8	$ 465.7
Costs and Expenses:
Cost of revenue	17.7	13.3	46.8	40.2
Research and development	23	20.7	66.4	60.2
Sales and marketing	128.1	100.6	342.1	321.1
General and administrative	15.9	14.2	47.8	45.2
Total costs and expenses	184.7	148.8	503.1	466.7
Income (Loss) From Operations	6.6	4	0.7	(1)
Other income, net:
Interest income	1.3	0.9	4.2	2.7
Interest expense	(0.1)	(0.2)	(0.5)	(0.6)
Other losses, net	0	0	(0.1)	(0.1)
Total other income, net	1.2	0.7	3.6	2
Income before income taxes	7.8	4.7	4.3	1
Income tax provision	7.7	5.2	12.5	10.5
Net Income (Loss)	$ 0.1	$ (0.5)	$ (8.2)	$ (9.5)
Net Income (Loss) Per Share Attributable to Common Stockholders
Basic (in dollars per share)	$ 0	$ (0.01)	$ (0.11)	$ (0.12)
Diluted (in dollars per share)	$ 0	$ (0.01)	$ (0.11)	$ (0.12)
Weighted-average Shares Used in Computing Net Income (Loss) Per Share Attributable to Common Stockholders
Basic (in shares)	77.4	77.5	77.5	76.7
Diluted (in shares)	79.3	77.5	77.5	76.7

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Net Income (Loss)	$ 0.1	$ (0.5)	$ (8.2)	$ (9.5)
Other Comprehensive Income (Loss):
Change in foreign currency translation	0.3	(0.2)	0.3	0.2
Comprehensive Income (Loss)	$ 0.4	$ (0.7)	$ (7.9)	$ (9.3)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (Unaudited) - USD ($) shares in Thousands, $ in Millions	Total	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Loss	Accumulated Deficit
Beginning balance (in shares) at Dec. 31, 2022		75,120
Beginning balance at Dec. 31, 2022	$ 341.7	$ 0	$ 427.3	$ (0.9)	$ (84.7)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Class A common stock upon exercise of stock options (in shares)		1,226
Issuance of Class A common stock upon exercise of stock options	8.4		8.4
Issuance of Class A common stock pursuant to settlement of restricted stock units (in shares)		380
Issuance of Class A common stock pursuant to settlement of restricted stock units	0
Class A common stock withheld related to net share settlement of restricted stock units (in shares)		(15)
Class A common stock withheld related to net share settlement of restricted stock units	(0.3)		(0.3)
Stock-based compensation	10.1		10.1
Other comprehensive income (loss)	0.2			0.2
Net income (loss)	1.7				1.7
Ending balance (in shares) at Mar. 31, 2023		76,711
Ending balance at Mar. 31, 2023	361.8	$ 0	445.5	(0.7)	(83)
Beginning balance (in shares) at Dec. 31, 2022		75,120
Beginning balance at Dec. 31, 2022	341.7	$ 0	427.3	(0.9)	(84.7)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(9.5)
Ending balance (in shares) at Sep. 30, 2023		76,994
Ending balance at Sep. 30, 2023	364.2	$ 0	471.2	(0.7)	(106.3)
Beginning balance (in shares) at Mar. 31, 2023		76,711
Beginning balance at Mar. 31, 2023	361.8	$ 0	445.5	(0.7)	(83)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Class A common stock upon exercise of stock options (in shares)		66
Issuance of Class A common stock upon exercise of stock options	0.4		0.4
Issuance of Class A common stock pursuant to settlement of restricted stock units (in shares)		674
Issuance of Class A common stock pursuant to settlement of restricted stock units	0
Class A common stock withheld related to net share settlement of restricted stock units (in shares)		(25)
Class A common stock withheld related to net share settlement of restricted stock units	(0.2)		(0.2)
Issuance of Class A common stock under Employee Stock Purchase Plan (in shares)		240
Issuance of Class A common stock under Employee Stock Purchase Plan	1.9		1.9
Repurchase of Class A common stock (in shares)		(141)
Repurchase of Class A common stock	(1.3)				(1.3)
Stock-based compensation	12.9		12.9
Other comprehensive income (loss)	0.2			0.2
Net income (loss)	(10.7)				(10.7)
Ending balance (in shares) at Jun. 30, 2023		77,525
Ending balance at Jun. 30, 2023	365	$ 0	460.5	(0.5)	(95)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Class A common stock upon exercise of stock options (in shares)		51
Issuance of Class A common stock upon exercise of stock options	0.3		0.3
Issuance of Class A common stock pursuant to settlement of restricted stock units (in shares)		657
Issuance of Class A common stock pursuant to settlement of restricted stock units	0
Class A common stock withheld related to net share settlement of restricted stock units (in shares)		(30)
Class A common stock withheld related to net share settlement of restricted stock units	(0.2)		(0.2)
Repurchase of Class A common stock (in shares)		(1,209)
Repurchase of Class A common stock	(10.8)				(10.8)
Stock-based compensation	10.6		10.6
Other comprehensive income (loss)	(0.2)			(0.2)
Net income (loss)	(0.5)				(0.5)
Ending balance (in shares) at Sep. 30, 2023		76,994
Ending balance at Sep. 30, 2023	$ 364.2	$ 0	471.2	(0.7)	(106.3)
Beginning balance (in shares) at Dec. 31, 2023	76,940	76,940
Beginning balance at Dec. 31, 2023	$ 366.9	$ 0	483.7	(0.3)	(116.5)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Class A common stock upon exercise of stock options (in shares)		276
Issuance of Class A common stock upon exercise of stock options	1.7		1.7
Issuance of Class A common stock pursuant to settlement of restricted stock units (in shares)		529
Issuance of Class A common stock pursuant to settlement of restricted stock units	0
Class A common stock withheld related to net share settlement of restricted stock units (in shares)		(25)
Class A common stock withheld related to net share settlement of restricted stock units	(0.5)		(0.5)
Stock-based compensation	9.6		9.6
Other comprehensive income (loss)	(0.1)			(0.1)
Net income (loss)	1.1				1.1
Ending balance (in shares) at Mar. 31, 2024		77,720
Ending balance at Mar. 31, 2024	$ 378.7	$ 0	494.5	(0.4)	(115.4)
Beginning balance (in shares) at Dec. 31, 2023	76,940	76,940
Beginning balance at Dec. 31, 2023	$ 366.9	$ 0	483.7	(0.3)	(116.5)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Class A common stock upon exercise of stock options (in shares)	810
Net income (loss)	$ (8.2)
Ending balance (in shares) at Sep. 30, 2024	74,028	74,028
Ending balance at Sep. 30, 2024	$ 322.4	$ 0	519.3	0	(196.9)
Beginning balance (in shares) at Mar. 31, 2024		77,720
Beginning balance at Mar. 31, 2024	378.7	$ 0	494.5	(0.4)	(115.4)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Class A common stock upon exercise of stock options (in shares)		104
Issuance of Class A common stock upon exercise of stock options	0.4		0.4
Issuance of Class A common stock pursuant to settlement of restricted stock units (in shares)		730
Issuance of Class A common stock pursuant to settlement of restricted stock units	0
Class A common stock withheld related to net share settlement of restricted stock units (in shares)		(68)
Class A common stock withheld related to net share settlement of restricted stock units	(0.9)		(0.9)
Repurchase of Class A common stock (in shares)		(89)
Repurchase of Class A common stock	(1.1)				(1.1)
Stock-based compensation	11.6		11.6
Other comprehensive income (loss)	0.1			0.1
Net income (loss)	(9.4)				(9.4)
Ending balance (in shares) at Jun. 30, 2024		78,397
Ending balance at Jun. 30, 2024	379.4	$ 0	505.6	(0.3)	(125.9)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Class A common stock upon exercise of stock options (in shares)		430
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)		981
Issuance of Class A common stock pursuant to settlement of restricted stock units	0
Class A common stock withheld related to net share settlement of restricted stock units (in shares)		(28)
Class A common stock withheld related to net share settlement of restricted stock units	(0.3)		(0.3)
Repurchase of Class A common stock (in shares)		(5,752)
Repurchase of Class A common stock	(71.1)				(71.1)
Stock-based compensation	10.9		10.9
Other comprehensive income (loss)	0.3			0.3
Net income (loss)	$ 0.1				0.1
Ending balance (in shares) at Sep. 30, 2024	74,028	74,028
Ending balance at Sep. 30, 2024	$ 322.4	$ 0	$ 519.3	$ 0	$ (196.9)

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Operating Activities:
Net income (loss)	$ (8.2)	$ (9.5)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	37	36
Stock-based compensation	29.2	29.3
Deferred taxes	(0.2)	(0.4)
Non-cash lease costs	1.7	2.1
Other, net	0.3	1.2
Changes in operating assets and liabilities:
Accounts receivable	(27.3)	1.6
Prepaid expenses and other assets	3.5	(6.2)
Accounts payable	10.3	7.6
Accrued expenses and other current liabilities	16.8	(5.9)
Payment of contingent consideration	0	(14)
Operating lease liabilities	(2.5)	(2.3)
Other liabilities	1.3	3
Net cash provided by operating activities	61.9	42.5
Investing Activities:
Purchase of investment	(8.1)	0
Capitalized software development costs	(15.9)	(19.6)
Purchase of property and equipment	(0.4)	(0.5)
Net cash used in investing activities	(24.4)	(20.1)
Financing Activities:
Payment of contingent consideration	0	(16.9)
Proceeds from line of credit	0	7.5
Payments on line of credit	0	(7.5)
Payment of debt issuance costs	0	(1.1)
Proceeds from exercise of stock options	5.2	9.1
Issuance of Class A common stock under Employee Stock Purchase Plan	0	1.9
Repurchase of Class A common stock	(69.8)	(12.1)
Tax payments related to net-share settlements on restricted stock units	(1.7)	(0.7)
Net cash used in financing activities	(66.3)	(19.8)
Effect of exchange rate changes on cash and cash equivalents	0.1	0.1
Net increase (decrease) in cash and cash equivalents	(28.7)	2.7
Cash and Cash Equivalents:
Beginning of period	100.4	83.9
End of period	71.7	86.6
Supplemental Disclosures of Non-Cash Investing and Financing Activities:
Capitalized software development costs recorded in accounts payable and accrued expenses and other current liabilities	0.7	2.6
Repurchases of Class A common stock recorded in accrued expenses and other current liabilities	2.4	0
Supplemental Disclosures of Cash Flow Information:
Income tax payments	10.2	11.7
Cash paid for interest	0.3	0.3
Supplemental Cash Flow Disclosure Related to Operating Leases:
Cash paid for amounts included in the measurement of lease liabilities	$ 2.9	$ 2.7

The Company and Basis of Presen

The Company and Basis of Presentation	9 Months Ended
	Sep. 30, 2024
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 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 Consolidation and 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 regarding interim financial reporting. Accordingly, the accompanying unaudited interim condensed consolidated financial statements do not include all disclosures normally required in annual consolidated financial statements prepared in accordance with GAAP. The accompanying unaudited interim condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023. In the opinion of management, the accompanying unaudited interim condensed consolidated financial statements have been prepared on the same basis as the audited consolidated 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 unaudited interim 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. Certain comparative amounts for the three and nine months ended September 30, 2023 have been reclassified to conform to the financial statement presentation as of and for the three and nine months ended September 30, 2024. The results of operations for the three and nine months ended September 30, 2024 are not necessarily indicative of the results to be expected for the full year or any other future period. Significant Accounting Policies —During the nine months ended September 30, 2024, the Company made a strategic investment of $8.1 million in equity securities of a privately-held company over which the Company does not exercise significant influence. See Note 4–Significant Condensed Consolidated Balance Sheet Components for further discussion. During the nine months ended September 30, 2024, there have been no other 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, 2023.

Revenue

Revenue	9 Months Ended
	Sep. 30, 2024
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 Nine Months Ended (in millions) 2024 2023 2024 2023 Credit cards $ 45.3 $ 54.0 $ 141.4 $ 166.5 Loans 23.8 32.9 66.9 78.0 SMB products 27.8 24.7 84.3 73.6 Emerging verticals 94.4 41.2 211.2 147.6 Total revenue $ 191.3 $ 152.8 $ 503.8 $ 465.7 During the nine months ended September 30, 2024, the Company recognized $4.1 million of revenue that was deferred as of December 31, 2023, all of which was recognized during the three months ended March 31, 2024. Revenue recognized during the nine months ended September 30, 2023 which was deferred as of December 31, 2022 was immaterial. The contract asset recorded within prepaid expenses and other current assets on the condensed consolidated balance sheet related to estimated variable consideration was $7.6 million and $5.5 million as of September 30, 2024 and December 31, 2023, respectively.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The Company’s assets 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 September 30, 2024 Assets: Cash and cash equivalents—money market funds $ 25.7 $ — $ — $ 25.7 Certificate of deposit — 2.2 — 2.2 $ 25.7 $ 2.2 $ — $ 27.9 (in millions) Quoted Prices Other Significant Total As of December 31, 2023 Assets: Cash and cash equivalents—money market funds $ 89.8 $ — $ — $ 89.8 Certificate of deposit — 2.1 — 2.1 $ 89.8 $ 2.1 $ — $ 91.9

Significant Condensed Consolida

Significant Condensed Consolidated Balance Sheet Components	9 Months Ended
	Sep. 30, 2024
Significant Consolidated Balance Sheet Components [Abstract]
Significant Condensed 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 $42.7 million and $49.0 million as of September 30, 2024 and December 31, 2023, respectively. The Company capitalized $5.7 million and $19.0 million of software development costs during the three and nine months ended September 30, 2024, respectively, and $7.9 million and $25.7 million during the three and nine months ended September 30, 2023, respectively. The Company recorded amortization expense related to capitalized software development costs of $9.0 million and $25.3 million during the three and nine months ended September 30, 2024 and $7.3 million and $20.9 million during the three and nine months ended September 30, 2023, respectively. During the nine months ended September 30, 2024, the Company made a strategic investment of $8.1 million in equity securities of a privately-held company over which the Company does not exercise significant influence. These equity securities do not have a readily determinable fair value and are accounted for under the measurement alternative. Under the measurement alternative, the carrying value of the security is measured at cost less any impairment, and adjusted for changes resulting from observable price changes in orderly transactions for identical or similar securities of the same issuer. An equity security without a readily determinable fair value is considered impaired when the fair value of the Company’s interest is less than the carrying value. Equity investments without readily determinable fair values are included in other assets on the Company’s condensed consolidated balance sheet, and any related gains or losses would be included in other gains (losses), net on the Company’s condensed consolidated statements of operations. Equity investments without readily determinable fair values were $8.1 million as of September 30, 2024, and there were no related changes in carrying amount or impairment during the nine months ended September 30, 2024. Accrued expenses and other current liabilities Other liabilities—noncurrent

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2024
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. During the nine months ended September 30, 2024, the Company entered into an amendment, that has not yet commenced, of an operating lease for office space, with total future lease payments of approximately $5 million that are not yet recorded on the Company’s condensed consolidated balance sheet. This lease amendment is expected to commence in 2025 (upon availability of the office space) with an expected lease term of approximately five years. As of September 30, 2024, there were no other 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, 2023. 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 material potential loss as of September 30, 2024 or December 31, 2023.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2024
Equity [Abstract]
Stockholders' Equity	Stockholders’ Equity Share Repurchase Program —On May 2, 2023, the Company announced that its Board of Directors authorized a plan under which the Company may repurchase up to $20 million of the Company’s Class A common stock and, following the Company’s utilization of such share repurchase authorization, the Company announced on October 26, 2023 and September 9, 2024 that its Board of Directors approved additional share repurchase authorizations under which the Company may repurchase up to an additional $30 million and $50 million, respectively, of the Company’s Class A common stock (collectively, the Repurchase Program). The Company repurchased 5.7 million and 5.8 million shares, respectively, of Class A common stock for $71.1 million and $72.2 million, respectively, including costs associated with the repurchases, during the three and nine months ended September 30, 2024, and 1.2 million and 1.3 million shares, respectively, for $10.8 million and $12.1 million, respectively, during the three and nine months ended September 30, 2023. The remaining share repurchase authorization under the Repurchase Program is $8.2 million as of September 30, 2024. Equity Incentive Plans —The 2021 Equity Incentive Plan and the predecessor 2012 Equity Incentive Plan, both as amended, along with the 2022 Inducement Equity Incentive Plan (collectively, the Plans) comprise the equity incentive plans of the Company. Under the terms of the 2021 Equity Incentive Plan, the number of shares of Class A common stock reserved for issuance under the plan will automatically increase on January 1 of each calendar year, starting January 1, 2023 and ending on and including January 1, 2031, in an amount equal to 5% of the total number of shares of the Company’s capital stock outstanding on December 31 of the prior calendar year, unless the Company’s Board of Directors determines prior to the date of increase that there will be a lesser increase, or no increase. In accordance with these plan terms, the aggregate number of shares of Class A common stock reserved for issuance under the 2021 Equity Incentive Plan increased by 3.8 million shares effective January 1, 2024. Stock Options —A summary of the Company’s stock option activity for its Plans is as follows: Outstanding Stock Options (in thousands) Weighted-Average Weighted-Average Remaining Contractual Life (in years) Aggregate Intrinsic Value (in millions) Balance as of December 31, 2023 4,112 $ 10.84 6.3 $ 18.7 Granted 1 220 $ 15.73 Exercised (810) $ 6.46 Cancelled/forfeited (77) $ 12.03 Balance as of September 30, 2024 1 3,445 $ 12.16 6.3 $ 6.8 Vested and exercisable as of September 30, 2024 2,619 $ 11.93 5.8 $ 5.6 ______________ (1) Represents 0.2 million of target award stock options with both service-based and performance-based conditions. The weighted-average grant-date fair value of options granted during the nine months ended September 30, 2024 was $9.08 per share. The aggregate intrinsic value of options exercised was $7.0 million for the nine months ended September 30, 2024. During the nine months ended September 30, 2024, the Company granted 0.2 million of target award stock options with both service-based and performance-based conditions to certain employees of the Company. Recipients of these performance-based stock options are eligible to earn between 0% and 200% of their target awards based upon the achievement of (i) a revenue-related growth metric and (ii) a non-GAAP operating income-related metric, both in fiscal year 2024, subject to certification of the attainment of the performance levels. These performance-based stock options are also subject to service-based vesting over a period of three years. For the nine months ended September 30, 2024, the per-share fair value of each stock option granted was determined on the date of grant using the following weighted-average assumptions: Nine Months Ended Expected volatility 58.1 % Expected term (in years) 5.9 Expected dividend yield 0 % Risk-free interest rate 4.2 % There were no stock options granted for the nine months ended September 30, 2023. Restricted Stock Units —A summary of the Company’s outstanding nonvested restricted stock units (RSUs) for its Plans is as follows: Number of Units (in thousands) Weighted-Average Nonvested as of December 31, 2023 1 6,788 $ 12.42 Granted 2 2,112 $ 14.65 Vested (2,240) $ 12.67 Forfeited 1 (1,504) $ 14.20 Nonvested as of September 30, 2024 2 5,156 $ 12.71 ______________ (1) Includes 0.2 million of target award RSUs with both service-based and performance-based conditions. (2) Includes less than 0.1 million of target award RSUs with both service-based and performance-based conditions. The total fair value of shares that vested under RSUs was $30.5 million during the nine months ended September 30, 2024. During the nine months ended September 30, 2024, the Company granted 0.1 million of target award RSUs with both service-based and performance-based conditions to certain employees of the Company. Recipients of these performance-based RSUs are eligible to earn between 0% and 200% of their target awards based upon the achievement of (i) a revenue-related growth metric and (ii) a non-GAAP operating income-related metric, both in fiscal year 2024, subject to certification of the attainment of the performance levels. These performance-based RSUs are also subject to service-based vesting over a period of three years. Employee Stock Purchase Plan —The terms of the Employee Stock Purchase Plan (ESPP) provide for automatic increases in the number of shares reserved for issuance on January 1 of each calendar year, beginning in 2023 and through 2031, subject to terms of the ESPP. In accordance with these plan terms, the aggregate number of Class A common stock authorized for issuance under the ESPP increased by 0.8 million effective January 1, 2024. Prior to capitalizing amounts related to software development costs, the Company recognized stock-based compensation related to the ESPP of $0.2 million and $0.4 million during the three and nine months ended September 30, 2024, respectively, which relates to the ESPP purchase period which began on May 1, 2024. Prior to capitalizing amounts related to software development costs, the Company recognized stock-based compensation related to the ESPP of $0.8 million and $2.8 million during the three and nine months ended September 30, 2023, respectively. Stock-Based Compensation —The Company recognized stock-based compensation under the Plans and ESPP as follows: Three Months Ended Nine Months Ended (in millions) 2024 2023 2024 2023 Research and development $ 3.7 $ 2.9 $ 9.4 $ 8.4 Sales and marketing 2.3 3.5 7.6 10.7 General and administrative 4.2 3.0 12.2 10.2 Total stock-based compensation $ 10.2 $ 9.4 $ 29.2 $ 29.3 In addition, stock-based compensation capitalized related to software development costs was $0.7 million and $1.2 million during the three months ended September 30, 2024 and 2023, respectively, and $2.9 million and $4.3 million during the nine months ended September 30, 2024 and 2023, respectively.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Beginning with the three months ended June 30, 2023, the Company’s tax provision for interim periods was determined using a discrete effective tax rate method, as allowed by ASC Topic 740-270, Income Taxes, Interim Reporting . The Company’s tax provision for interim periods was previously determined using an estimated annual effective tax rate which was adjusted for discrete items occurring during the periods presented. The Company determined that since small changes in estimated “ordinary” income would result in significant changes in the estimated annual effective tax rate, the historical method would not provide a reliable estimate for the three and nine months ended September 30, 2024. The primary difference between the Company’s effective tax rate and the statutory federal income tax rate is the full valuation allowance established on the Company’s federal, state and foreign deferred tax attributes. As of September 30, 2024 and December 31, 2023, the Company recorded a full valuation allowance against these net 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 Income (Loss) Per Basic and

Net Income (Loss) Per Basic and Diluted Share	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Net Income (Loss) Per Basic and Diluted Share	Net Income (Loss) Per Basic and Diluted Share The following table provides the basic and diluted per share computations for net income (loss) attributable to common stockholders: Three Months Ended Nine Months Ended (in millions, except per share amounts) 2024 2023 2024 2023 Numerator: Net income (loss) attributable to common stockholders—basic and diluted $ 0.1 $ (0.5) $ (8.2) $ (9.5) Denominator: Weighted-average shares of common stock—basic 77.4 77.5 77.5 76.7 Effect of dilutive stock options and restricted stock units 1.9 — — — Weighted-average shares of common stock—diluted 79.3 77.5 77.5 76.7 Net income (loss) per share attributable to common stockholders: Basic $ 0.00 $ (0.01) $ (0.11) $ (0.12) Diluted $ 0.00 $ (0.01) $ (0.11) $ (0.12) The following common stock equivalents were excluded from the computation of diluted net income (loss) per share because including them would have been antidilutive: Three Months Ended Nine Months Ended (in millions) 2024 2023 2024 2023 Shares subject to outstanding stock options and restricted stock units 4.6 9.7 6.7 9.0 ESPP 0.1 0.3 0.1 0.4

Restructuring Plan

Restructuring Plan	9 Months Ended
	Sep. 30, 2024
Restructuring and Related Activities [Abstract]
Restructuring Plan	Restructuring Plan On July 30, 2024, the Company committed to a restructuring plan, effective August 1, 2024, intended to reduce the Company’s operating expenses and better position the Company to execute its long-term strategic initiatives (the Restructuring Plan). The Restructuring Plan was substantially completed during the three months ended September 30, 2024, and reduced the size of the Company’s workforce by approximately 15% of its full-time employees, as compared to its headcount as of December 31, 2023. The Company incurred a pre-tax restructuring charge of $7.8 million for the three and nine months ended September 30, 2024 in connection with the Restructuring Plan, which primarily consisted of severance payments, employee benefits and related expenses for impacted employees, and is presented in the condensed consolidated statement of operations as $5.6 million of research and development expenses, $1.2 million of sales and marketing expenses and $1.0 million of general and administrative expenses. The changes in the restructuring reserve, which is included in accrued expenses and other current liabilities on the condensed consolidated balance sheet, are as follows: (in millions) Three and Nine Months Ended September 30, 2024 Amount Balance as of beginning of period $ — Charge 7.8 Cash payments (6.0) Stock-based compensation (1.5) Balance as of September 30, 2024 $ 0.3

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2024
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Acquisition of Next Door Lending LLC —On October 1, 2024, the Company acquired all outstanding equity interests of Next Door Lending LLC (NDL), a mortgage brokerage, for a preliminary purchase consideration of approximately $1 million in cash. The acquisition of NDL is intended to allow the Company to provide mortgage shoppers with more hands-on guidance. Given the recent timing of the closing of this acquisition, the Company is in the process of evaluating the purchase price allocation for this acquisition. Additionally, under the purchase agreement, certain employees of NDL could earn up to an aggregate of $3.5 million of performance-based cash earnout awards, with the value of such earnout awards to be recognized as compensation expense following the close of the acquisition through 2028, generally subject to the employees’ continued employment with the Company. The value of these cash earnout awards are excluded from the purchase consideration and accounted for separately from the business combination. Repurchase Program —Following the Company’s utilization of the share repurchase authorization announced by the Company on September 9, 2024, the Company announced on October 29, 2024 that its Board of Directors approved a new share repurchase authorization under which the Company may repurchase up to $25 million of the Company’s Class A common stock (the October 2024 Repurchase Plan). Under the October 2024 Repurchase Plan, shares of Class A common stock may be repurchased from time to time in the open market, through privately negotiated transactions or otherwise, in accordance with applicable securities laws and other restrictions. The October 2024 Repurchase Plan does not have a fixed expiration date and does not obligate the Company to acquire any specific dollar amount or number of shares. The amount and timing of repurchases under the October 2024 Repurchase Plan will be determined at management’s discretion and depend on a variety of factors, including business, economic and market conditions, regulatory requirements, prevailing stock prices and other considerations.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended						9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net income (loss)	$ 0.1	$ (9.4)	$ 1.1	$ (0.5)	$ (10.7)	$ 1.7	$ (8.2)	$ (9.5)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	9 Months Ended
	Sep. 30, 2024 shares	Sep. 30, 2024 shares
Trading Arrangements, by Individual
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Lauren StClair [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On September 12, 2024, Lauren StClair, Chief Financial Officer, adopted a Rule 10b5-1 trading plan providing for the potential sale of up to 72,836 shares of Class A common stock, set to expire on October 31, 2025.
Name	Lauren StClair
Title	Chief Financial Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	September 12, 2024
Expiration Date	October 31, 2025
Arrangement Duration	414 days
Aggregate Available	72,836	72,836
Yount Family Revocable Trust [Member] | Sam Yount [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On September 11, 2024, The Yount Family Revocable Trust, of which Sam Yount, Chief Business Officer, is trustee, modified a Rule 10b5-1 trading plan originally adopted on February 20, 2024. The plan, as modified, provides for the potential sale of up to 931,097 shares of Class A common stock and is set to expire on December 12, 2025.
Name	Sam Yount
Title	Chief Business Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	September 11, 2024
Expiration Date	December 12, 2025
Arrangement Duration	457 days
Aggregate Available	931,097	931,097
Bearman LLC [Member] | Sam Yount [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On September 11, 2024, Bearman LLC, of which Sam Yount, Chief Business Officer, is the sole member, adopted a Rule 10b5-1 trading plan providing for the potential sale of up to 603,154 shares of Class A common stock, set to expire on December 12, 2025.
Name	Sam Yount
Title	Chief Business Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	September 11, 2024
Expiration Date	December 12, 2025
Arrangement Duration	457 days
Aggregate Available	603,154	603,154
SMB Charitable Remainder Trust [Member] | Sam Yount [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On September 11, 2024, The SMB Charitable Remainder Trust, of which Sam Yount, Chief Business Officer, is trustee, adopted a Rule 10b5-1 trading plan providing for the potential sale of up to 137,080 shares of Class A common stock, set to expire on December 12, 2025.
Name	Sam Yount
Title	Chief Business Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	September 11, 2024
Expiration Date	December 12, 2025
Arrangement Duration	457 days
Aggregate Available	137,080	137,080
Margaret Yount Charitable Remainder Trust [Member] | Sam Yount [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On September 11, 2024, The Margaret Yount Charitable Remainder Trust, of which Sam Yount, Chief Business Officer, is trustee, providing for the potential sale of up to 137,080 shares of Class A common stock, set to expire on December 12, 2025.
Name	Sam Yount
Title	Chief Business Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	September 11, 2024
Expiration Date	December 12, 2025
Arrangement Duration	457 days
Aggregate Available	137,080	137,080

The Company and Basis of Pres_2

The Company and Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Consolidation and 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 regarding interim financial reporting. Accordingly, the accompanying unaudited interim condensed consolidated financial statements do not include all disclosures normally required in annual consolidated financial statements prepared in accordance with GAAP. The accompanying unaudited interim condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023.
Consolidation	The accompanying unaudited interim 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. Certain comparative amounts for the three and nine months ended September 30, 2023 have been reclassified to conform to the financial statement presentation as of and for the three and nine months ended September 30, 2024. The results of operations for the three and nine months ended September 30, 2024 are not necessarily indicative of the results to be expected for the full year or any other future period.

Revenue (Tables)

Revenue (Tables)	9 Months Ended
	Sep. 30, 2024
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 Nine Months Ended (in millions) 2024 2023 2024 2023 Credit cards $ 45.3 $ 54.0 $ 141.4 $ 166.5 Loans 23.8 32.9 66.9 78.0 SMB products 27.8 24.7 84.3 73.6 Emerging verticals 94.4 41.2 211.2 147.6 Total revenue $ 191.3 $ 152.8 $ 503.8 $ 465.7

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	The Company’s assets 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 September 30, 2024 Assets: Cash and cash equivalents—money market funds $ 25.7 $ — $ — $ 25.7 Certificate of deposit — 2.2 — 2.2 $ 25.7 $ 2.2 $ — $ 27.9 (in millions) Quoted Prices Other Significant Total As of December 31, 2023 Assets: Cash and cash equivalents—money market funds $ 89.8 $ — $ — $ 89.8 Certificate of deposit — 2.1 — 2.1 $ 89.8 $ 2.1 $ — $ 91.9

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2024
Equity [Abstract]
Schedule of Stock Options	A summary of the Company’s stock option activity for its Plans is as follows: Outstanding Stock Options (in thousands) Weighted-Average Weighted-Average Remaining Contractual Life (in years) Aggregate Intrinsic Value (in millions) Balance as of December 31, 2023 4,112 $ 10.84 6.3 $ 18.7 Granted 1 220 $ 15.73 Exercised (810) $ 6.46 Cancelled/forfeited (77) $ 12.03 Balance as of September 30, 2024 1 3,445 $ 12.16 6.3 $ 6.8 Vested and exercisable as of September 30, 2024 2,619 $ 11.93 5.8 $ 5.6 ______________ (1) Represents 0.2 million of target award stock options with both service-based and performance-based conditions.
Schedule of Weighted-Average Assumptions and Ranges of Fair Value of Common Stock	For the nine months ended September 30, 2024, the per-share fair value of each stock option granted was determined on the date of grant using the following weighted-average assumptions: Nine Months Ended Expected volatility 58.1 % Expected term (in years) 5.9 Expected dividend yield 0 % Risk-free interest rate 4.2 %
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 (in thousands) Weighted-Average Nonvested as of December 31, 2023 1 6,788 $ 12.42 Granted 2 2,112 $ 14.65 Vested (2,240) $ 12.67 Forfeited 1 (1,504) $ 14.20 Nonvested as of September 30, 2024 2 5,156 $ 12.71 ______________ (1) Includes 0.2 million of target award RSUs with both service-based and performance-based conditions. (2) Includes less than 0.1 million of target award RSUs with both service-based and performance-based conditions.
Schedule of Stock-based Compensation Expense	The Company recognized stock-based compensation under the Plans and ESPP as follows: Three Months Ended Nine Months Ended (in millions) 2024 2023 2024 2023 Research and development $ 3.7 $ 2.9 $ 9.4 $ 8.4 Sales and marketing 2.3 3.5 7.6 10.7 General and administrative 4.2 3.0 12.2 10.2 Total stock-based compensation $ 10.2 $ 9.4 $ 29.2 $ 29.3

Net Income (Loss) Per Basic a_2

Net Income (Loss) Per Basic and Diluted Share (Tables)	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Schedule of Net Income (Loss) Per Share, Basic and Diluted	The following table provides the basic and diluted per share computations for net income (loss) attributable to common stockholders: Three Months Ended Nine Months Ended (in millions, except per share amounts) 2024 2023 2024 2023 Numerator: Net income (loss) attributable to common stockholders—basic and diluted $ 0.1 $ (0.5) $ (8.2) $ (9.5) Denominator: Weighted-average shares of common stock—basic 77.4 77.5 77.5 76.7 Effect of dilutive stock options and restricted stock units 1.9 — — — Weighted-average shares of common stock—diluted 79.3 77.5 77.5 76.7 Net income (loss) per share attributable to common stockholders: Basic $ 0.00 $ (0.01) $ (0.11) $ (0.12) Diluted $ 0.00 $ (0.01) $ (0.11) $ (0.12)
Schedule of Antidilutive Securities Excluded from Computation of Diluted Net Income (Loss) Per Share	The following common stock equivalents were excluded from the computation of diluted net income (loss) per share because including them would have been antidilutive: Three Months Ended Nine Months Ended (in millions) 2024 2023 2024 2023 Shares subject to outstanding stock options and restricted stock units 4.6 9.7 6.7 9.0 ESPP 0.1 0.3 0.1 0.4

Restructuring Plan (Tables)

Restructuring Plan (Tables)	9 Months Ended
	Sep. 30, 2024
Restructuring and Related Activities [Abstract]
Schedule of Restructuring Reserve Activity	The changes in the restructuring reserve, which is included in accrued expenses and other current liabilities on the condensed consolidated balance sheet, are as follows: (in millions) Three and Nine Months Ended September 30, 2024 Amount Balance as of beginning of period $ — Charge 7.8 Cash payments (6.0) Stock-based compensation (1.5) Balance as of September 30, 2024 $ 0.3

The Company and Basis of Pres_3

The Company and Basis of Presentation (Details) $ in Millions	9 Months Ended
	Sep. 30, 2024 USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Strategic investment of equity securities	$ 8.1

Revenue - Schedule of Disaggreg

Revenue - Schedule of Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Disaggregation of Revenue [Line Items]
Revenue	$ 191.3	$ 152.8	$ 503.8	$ 465.7
Credit cards
Disaggregation of Revenue [Line Items]
Revenue	45.3	54	141.4	166.5
Loans
Disaggregation of Revenue [Line Items]
Revenue	23.8	32.9	66.9	78
SMB products
Disaggregation of Revenue [Line Items]
Revenue	27.8	24.7	84.3	73.6
Emerging verticals
Disaggregation of Revenue [Line Items]
Revenue	$ 94.4	$ 41.2	$ 211.2	$ 147.6

Revenue - Narrative (Details)

Revenue - Narrative (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Mar. 31, 2024	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Deferred revenue recognized	$ 4.1	$ 4.1	$ 0
Contract assets		$ 7.6		$ 5.5

Fair Value Measurements - Asset

Fair Value Measurements - Assets and Liabilities Measured on Recurring Basis (Details) - Recurring Basis - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Assets:
Assets	$ 27.9	$ 91.9
Certificate of deposit
Assets:
Certificate of deposit	2.2	2.1
Money Market Funds
Assets:
Cash and cash equivalents—money market funds	25.7	89.8
Quoted Prices in Active Markets (Level 1)
Assets:
Assets	25.7	89.8
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	25.7	89.8
Other Observable Inputs (Level 2)
Assets:
Assets	2.2	2.1
Other Observable Inputs (Level 2) | Certificate of deposit
Assets:
Certificate of deposit	2.2	2.1
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
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

Significant Condensed Consoli_2

Significant Condensed Consolidated Balance Sheet Components (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Share Repurchase Program [Line Items]
Capitalized software development costs, net of accumulated amortization	$ 42.7		$ 42.7		$ 49
Capitalized software development costs	5.7	$ 7.9	19	$ 25.7
Amortization of capitalized software	9	$ 7.3	25.3	20.9
Strategic investment of equity securities			8.1
Equity investments without readily determinable fair values	$ 8.1		$ 8.1
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 unbilled accounts payable	$ 42		$ 42		$ 21.2
Accrued expenses and other current liabilities including operating lease liabilities	$ 2.8		2.8		$ 3.4
Repurchases of Class A common stock recorded in accrued expenses and other current liabilities			$ 2.4	$ 0
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	$ 4.1		$ 4.1		$ 6.2
Accrued Liabilities and Other Liabilities
Share Repurchase Program [Line Items]
Repurchases of Class A common stock recorded in accrued expenses and other current liabilities			$ 2.4

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	9 Months Ended
	Sep. 30, 2024 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Future lease payments, lease not yet commenced	$ 5
Lease term, not yet commenced	5 years

Stockholders' Equity - Share Re

Stockholders' Equity - Share Repurchase Plan (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended				9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Sep. 30, 2023	Jun. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Sep. 09, 2024	Oct. 26, 2023	May 02, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Repurchase of Class A common stock	$ 71.1	$ 1.1	$ 10.8	$ 1.3
Common Class A
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock repurchase program, authorized amount							$ 50	$ 30	$ 20
Repurchase of Class A common stock (in shares)	5.7		1.2		5.8	1.3
Repurchase of Class A common stock	$ 71.1		$ 10.8		$ 72.2	$ 12.1
Stock repurchase program, remaining authorized amount	$ 8.2				$ 8.2

Stockholders' Equity - Equity I

Stockholders' Equity - Equity Incentive Plan Narrative (Details) - 2021 Equity Incentive Plan - Common Class A - shares shares in Millions	Jan. 01, 2024	Jan. 01, 2023
Class of Stock [Line Items]
Increase in shares reserved for issuance (in shares)	3.8
Stock Options
Class of Stock [Line Items]
Annual increase in shares authorized, percentage		5%

Stockholders' Equity - Stock Op

Stockholders' Equity - Stock Option Activity (Details) $ / shares in Units, shares in Thousands, $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2024 USD ($) $ / shares shares	Dec. 31, 2023 USD ($) $ / shares shares
Outstanding Stock Options (in thousands)
Beginning of period (in shares) | shares	4,112
Granted (in shares) | shares	220
Exercised (in shares) | shares	(810)
Cancelled/forfeited (in shares) | shares	(77)
End of period (in shares) | shares	3,445	4,112
Vested and exercisable (in shares) | shares	2,619
Weighted-Average Exercise Price
Beginning of period (in dollars per share) | $ / shares	$ 10.84
Granted (in dollars per share) | $ / shares	15.73
Exercised (in dollars per share) | $ / shares	6.46
Cancelled/forfeited (in dollars per share) | $ / shares	12.03
End of period (in dollars per share) | $ / shares	12.16	$ 10.84
Vested and exercisable (in dollars per share) | $ / shares	$ 11.93
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Weighted-Average Remaining Contractual Life (in years)	6 years 3 months 18 days	6 years 3 months 18 days
Vested and exercisable (in years)	5 years 9 months 18 days
Aggregate intrinsic value, outstanding | $	$ 6.8	$ 18.7
Aggregate intrinsic value, Vested and exercisable | $	$ 5.6

Stockholders' Equity - Stock _2

Stockholders' Equity - Stock Option Activity Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, weighted average grant-date fair value (in dollars per share)	$ 9.08
Aggregate intrinsic value, options exercised in period	$ 7
Granted (in shares)	220,000
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	200,000	0
Award vesting period (in years)	3 years
Stock Options | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights percentage	0%
Stock Options | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights percentage	200%

Stockholders' Equity - Stock _3

Stockholders' Equity - Stock Option Valuation Assumptions (Details) - Stock Options	9 Months Ended
	Sep. 30, 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	58.10%
Expected term (in years)	5 years 10 months 24 days
Expected dividend yield	0%
Risk-free interest rate	4.20%

Stockholders' Equity - Restrict

Stockholders' Equity - Restricted Stock Unit Activity (Details) shares in Thousands	9 Months Ended
	Sep. 30, 2024 $ / shares shares
Restricted Stock Units (RSUs)
Number of Units (in thousands)
Beginning of period, nonvested (in shares)	6,788
Granted (in shares)	2,112
Vested (in shares)	(2,240)
Forfeited (in shares)	(1,504)
End of period, nonvested (in shares)	5,156
Weighted-Average Grant-Date Fair Value
Beginning of period, nonvested weighted average grant date fair value (in dollars per share) | $ / shares	$ 12.42
Granted (in dollars per share) | $ / shares	14.65
Vested (in dollars per share) | $ / shares	12.67
Forfeited (in dollars per share) | $ / shares	14.20
End of period, nonvested weighted average grant date fair value (in dollars per share) | $ / shares	$ 12.71
Forfeited (in shares)	1,504
Granted (in shares) (less than)	2,112
Restricted Stock Units, Service-Based And Performance-Based
Number of Units (in thousands)
Granted (in shares)	100
Forfeited (in shares)	(200)
Weighted-Average Grant-Date Fair Value
Forfeited (in shares)	200
Granted (in shares) (less than)	100

Stockholders' Equity - Restri_2

Stockholders' Equity - Restricted Stock Unit Activity Narrative (Details) shares in Thousands, $ in Millions	9 Months Ended
	Sep. 30, 2024 USD ($) shares
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of shares vested under RSUs during period | $	$ 30.5
Granted (in shares)	2,112
Restricted Stock Units, Service-Based And Performance-Based
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	100
Award vesting period (in years)	3 years
Restricted Stock Units, Service-Based And Performance-Based | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights percentage	0%
Restricted Stock Units, Service-Based And Performance-Based | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights percentage	200%

Stockholders' Equity - Employee

Stockholders' Equity - Employee Stock Purchase Plan (Details) - USD ($) shares in Millions, $ in Millions		3 Months Ended		9 Months Ended
	Jan. 01, 2024	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense		$ 10.2	$ 9.4	$ 29.2	$ 29.3
ESPP | Class A Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of additional shares authorized (in shares)	0.8
Share-based compensation expense		$ 0.2	$ 0.8	$ 0.4	$ 2.8

Stockholders' Equity - Stock-Ba

Stockholders' Equity - Stock-Based Compensation Expense (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expense	$ 10.2	$ 9.4	$ 29.2	$ 29.3
Share-based compensation capitalized	0.7	1.2	2.9	4.3
Research and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expense	3.7	2.9	9.4	8.4
Sales and marketing
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expense	2.3	3.5	7.6	10.7
General and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expense	$ 4.2	$ 3	$ 12.2	$ 10.2

Net Income (Loss) Per Basic a_3

Net Income (Loss) Per Basic and Diluted Share - Basic and Diluted Per Share Computations for Net Income (Loss) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Numerator:
Net income (loss) attributable to common stockholders – basic	$ 0.1	$ (0.5)	$ (8.2)	$ (9.5)
Net income (loss) attributable to common stockholders – diluted	$ 0.1	$ (0.5)	$ (8.2)	$ (9.5)
Denominator:
Weighted-average shares of common stock — basic (in shares)	77.4	77.5	77.5	76.7
Effect of dilutive stock options and restricted stock units (in shares)	1.9	0	0	0
Weighted-average shares of common stock — diluted (in shares)	79.3	77.5	77.5	76.7
Net income (loss) per share attributable to common stockholders:
Basic (in dollars per share)	$ 0	$ (0.01)	$ (0.11)	$ (0.12)
Diluted (in dollars per share)	$ 0	$ (0.01)	$ (0.11)	$ (0.12)

Net Income (Loss) Per Basic a_4

Net Income (Loss) Per Basic and Diluted Share -Schedule of Antidilutive Securities Excluded from Computation of Diluted Net Income (Loss) Per Share (Details) - shares shares in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
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)	4.6	9.7	6.7	9
ESPP
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	0.1	0.3	0.1	0.4

Restructuring Plan - Narrative

Restructuring Plan - Narrative (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2024
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, number of positions eliminated, period percent		15%
Charge	$ 7.8	$ 7.8
Research and development
Restructuring Cost and Reserve [Line Items]
Charge	5.6	5.6
Sales and marketing
Restructuring Cost and Reserve [Line Items]
Charge	1.2	1.2
General and administrative
Restructuring Cost and Reserve [Line Items]
Charge	$ 1	$ 1

Restructuring Plan - Schedule o

Restructuring Plan - Schedule of Restructuring Reserve Activity (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2024
Restructuring Reserve [Roll Forward]
Balance as of beginning of period	$ 0	$ 0
Charge	7.8	7.8
Cash payments	(6)	(6)
Stock-based compensation	(1.5)	(1.5)
Balance as of September 30, 2024	$ 0.3	$ 0.3

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) $ in Millions	Oct. 01, 2024	Oct. 29, 2024
Forecast | Next Door Lending, LLC | Performance Shares
Subsequent Event [Line Items]
Compensation expense	$ 3.5
Subsequent Event
Subsequent Event [Line Items]
Stock repurchase program, authorized amount		$ 25
Subsequent Event | Next Door Lending, LLC
Subsequent Event [Line Items]
Contingent consideration transferred	$ 1