Toast (TOST) 10-Q 8 Aug 23 2023 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2023	Aug. 01, 2023
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2023
Document Transition Report	false
Entity File Number	001-40819
Entity Registrant Name	Toast, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	45-4168768
Entity Address, Address Line One	401 Park Drive
Entity Address, City or Town	Boston,
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	02215
City Area Code	617
Local Phone Number	297-1005
Title of 12(b) Security	Class A common stock, par value of $0.000001 per share
Trading Symbol	TOST
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0001650164
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Common Class A
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		410,843,910
Common Class B
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		124,789,025

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 488	$ 547
Marketable securities	502	474
Accounts receivable, net	115	77
Inventories, net	107	110
Deferred costs, net	52	44
Prepaid expenses and other current assets	191	155
Total current assets	1,455	1,407
Property and equipment, net	61	61
Operating lease right-of-use assets	25	77
Intangible assets, net	30	29
Goodwill	113	107
Restricted cash	43	28
Deferred costs, non-current	52	38
Other non-current assets	16	14
Total non-current assets	340	354
Total assets	1,795	1,761
Current liabilities:
Accounts payable	42	30
Operating lease liabilities	8	14
Deferred revenue	41	39
Accrued expenses and other current liabilities	493	413
Total current liabilities	584	496
Warrants to purchase common stock	90	68
Operating lease liabilities, non-current	25	80
Deferred revenue, non-current	12	7
Other long-term liabilities	5	12
Total liabilities	716	663
Commitments and Contingencies (Note 14)
Stockholders’ Equity:
Preferred stock- par value $0.000001; 100,000,000 shares authorized, no shares issued or outstanding	0	0
Treasury stock, at cost; 225,000 shares outstanding at June 30, 2023 and December 31, 2022	0	0
Accumulated other comprehensive loss	(2)	(2)
Additional paid-in capital	2,637	2,477
Accumulated deficit	(1,556)	(1,377)
Total stockholders’ equity	1,079	1,098
Total liabilities and stockholders’ equity	1,795	1,761
Class A common stock
Stockholders’ Equity:
Common stock	0	0
Class B common stock
Stockholders’ Equity:
Common stock	$ 0	$ 0

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2023	Dec. 31, 2022
Stockholders’ Equity:
Preferred stock, par value (in dollars per share)	$ 0.000001	$ 0.000001
Preferred stock, authorized (in shares)	100,000,000	100,000,000
Preferred stock, issued (in shares)	0	0
Preferred stock, outstanding (in shares)	0	0
Treasury stock (in shares)	225,000	225,000
Class A common stock
Stockholders’ Equity:
Common stock, par value (in dollars per share)	$ 0.000001	$ 0.000001
Common stock, authorized (in shares)	7,000,000,000	7,000,000,000
Common stock, issued (in shares)	376,140,827	353,094,009
Common stock, outstanding (in shares)	376,140,827	353,094,009
Class B common stock
Stockholders’ Equity:
Common stock, par value (in dollars per share)	$ 0.000001	$ 0.000001
Common stock, authorized (in shares)	700,000,000	700,000,000
Common stock, issued (in shares)	156,795,897	169,933,289
Common stock, outstanding (in shares)	156,795,897	169,933,289

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Revenue:
Total revenue	$ 978	$ 675	$ 1,797	$ 1,210
Costs of revenue:
Amortization of acquired intangible assets	1	1	2	2
Total costs of revenue	770	562	1,415	1,008
Gross profit	208	113	382	202
Operating expenses:
Sales and marketing	100	77	199	148
Research and development	92	67	177	129
General and administrative	96	68	179	125
Total operating expenses	288	212	555	402
Loss from operations	(80)	(99)	(173)	(200)
Other income (expense):
Interest income, net	9	1	17	1
Change in fair value of warrant liability	(26)	44	(23)	123
Other income (expense), net	0	0	1	(1)
Loss before provision for income taxes	(97)	(54)	(178)	(77)
Provision for income taxes	(1)	0	(1)	0
Net loss	$ (98)	$ (54)	$ (179)	$ (77)
Net loss per share attributable to common stockholders:
Basic (in dollars per share)	$ (0.19)	$ (0.11)	$ (0.34)	$ (0.15)
Diluted (in dollars per share)	$ (0.19)	$ (0.11)	$ (0.34)	$ (0.39)
Weighted average shares used in computing net loss per share:
Basic (in shares)	529,226,266	509,532,418	526,677,000	507,420,257
Diluted (in shares)	529,226,266	509,532,418	526,677,000	508,176,495
Subscription services
Revenue:
Total revenue	$ 121	$ 76	$ 227	$ 139
Costs of revenue:
Cost of revenue	39	27	75	51
Financial technology solutions
Revenue:
Total revenue	808	562	1,482	1,000
Costs of revenue:
Cost of revenue	631	448	1,155	796
Hardware
Revenue:
Total revenue	41	30	72	59
Costs of revenue:
Cost of revenue	67	61	123	113
Professional services
Revenue:
Total revenue	8	7	16	12
Costs of revenue:
Cost of revenue	$ 32	$ 25	$ 60	$ 46

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of Comprehensive Income [Abstract]
Net loss	$ (98)	$ (54)	$ (179)	$ (77)
Other comprehensive loss:
Unrealized losses on marketable securities, net of tax effect of $0	(2)	(1)	0	(3)
Cumulative translation adjustment	0	(1)	0	(1)
Total other comprehensive loss	(2)	(2)	0	(4)
Comprehensive loss	$ (100)	$ (56)	$ (179)	$ (81)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (Parenthetical) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of Comprehensive Income [Abstract]
Unrealized losses on marketable securities, tax	$ 0	$ 0	$ 0	$ 0

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($) $ in Millions	Total	Class A and Class B Common Stock	Treasury Stock	Additional Paid-in Capital	Accumulated Deficit	Accumulated Other Comprehensive Loss
Beginning balance (in shares) at Dec. 31, 2021		507,170,365
Beginning balance at Dec. 31, 2021	$ 1,091	$ 0	$ 0	$ 2,194	$ (1,102)	$ (1)
Beginning balance (in shares) at Dec. 31, 2021			225,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Repurchase of common stock (in shares)		(33,475)
Issuance of common stock upon net exercise of common stock warrants (in shares)		371,573
Issuance of common stock upon net exercise of common stock warrants	18			18
Issuance of common stock upon exercise of common stock options (in shares)		4,410,300
Issuance of common stock upon exercise of common stock options	7			7
Issuance of common stock upon vesting of restricted stock units (in shares)		1,450,869
Stock-based compensation expense	112			112
Vesting of restricted stock	$ 2			2
Issuance of common stock under employee stock purchase plan (in shares)	0
Issuance of common stock in connection with business combinations (in shares)		37,179
Issuance of common stock in connection with business combinations	$ 1			1
Cumulative translation adjustment	(1)					(1)
Unrealized loss on marketable securities	(3)					(3)
Net loss	(77)				(77)
Ending balance (in shares) at Jun. 30, 2022		513,406,811
Ending balance at Jun. 30, 2022	1,150	$ 0	$ 0	2,334	(1,179)	(5)
Ending balance (in shares) at Jun. 30, 2022			225,000
Beginning balance (in shares) at Dec. 31, 2021		507,170,365
Beginning balance at Dec. 31, 2021	1,091	$ 0	$ 0	2,194	(1,102)	(1)
Beginning balance (in shares) at Dec. 31, 2021			225,000
Ending balance (in shares) at Dec. 31, 2022		523,027,298
Ending balance at Dec. 31, 2022	$ 1,098	$ 0	$ 0	2,477	(1,377)	(2)
Ending balance (in shares) at Dec. 31, 2022	225,000		225,000
Beginning balance (in shares) at Mar. 31, 2022		510,425,065
Beginning balance at Mar. 31, 2022	$ 1,143	$ 0	$ 0	2,271	(1,125)	(3)
Beginning balance (in shares) at Mar. 31, 2022			225,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Repurchase of common stock (in shares)		(3,000)
Issuance of common stock upon exercise of common stock options (in shares)		1,659,609
Issuance of common stock upon exercise of common stock options	3			3
Issuance of common stock upon vesting of restricted stock units (in shares)		1,325,137
Stock-based compensation expense	59			59
Vesting of restricted stock	1			1
Cumulative translation adjustment	(1)					(1)
Unrealized loss on marketable securities	(1)					(1)
Net loss	(54)				(54)
Ending balance (in shares) at Jun. 30, 2022		513,406,811
Ending balance at Jun. 30, 2022	1,150	$ 0	$ 0	2,334	(1,179)	(5)
Ending balance (in shares) at Jun. 30, 2022			225,000
Beginning balance (in shares) at Dec. 31, 2022		523,027,298
Beginning balance at Dec. 31, 2022	$ 1,098	$ 0	$ 0	2,477	(1,377)	(2)
Beginning balance (in shares) at Dec. 31, 2022	225,000		225,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Repurchase of common stock (in shares)		(44,440)
Issuance of common stock upon net exercise of common stock warrants (in shares)		19,494
Issuance of common stock upon net exercise of common stock warrants	$ 1			1
Issuance of common stock upon exercise of common stock options (in shares)	4,790,307	4,790,307
Issuance of common stock upon exercise of common stock options	$ 11			11
Issuance of common stock upon vesting of restricted stock units (in shares)		4,791,017
Stock-based compensation expense	141			141
Vesting of restricted stock	$ 2			2
Issuance of common stock under employee stock purchase plan (in shares)	287,086	287,086
Issuance of common stock under employee stock purchase plan	$ 4			4
Issuance of common stock in connection with business combinations (in shares)		65,962
Issuance of common stock in connection with business combinations	1			1
Cumulative translation adjustment	0
Unrealized loss on marketable securities	0
Net loss	(179)				(179)
Ending balance (in shares) at Jun. 30, 2023		532,936,724
Ending balance at Jun. 30, 2023	$ 1,079	$ 0	$ 0	2,637	(1,556)	(2)
Ending balance (in shares) at Jun. 30, 2023	225,000		225,000
Beginning balance (in shares) at Mar. 31, 2023		528,568,895
Beginning balance at Mar. 31, 2023	$ 1,098	$ 0	$ 0	2,556	(1,458)	0
Beginning balance (in shares) at Mar. 31, 2023			225,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Repurchase of common stock (in shares)		(44,440)
Issuance of common stock upon net exercise of common stock warrants (in shares)		19,494
Issuance of common stock upon net exercise of common stock warrants	1			1
Issuance of common stock upon exercise of common stock options (in shares)		1,999,541
Issuance of common stock upon exercise of common stock options	5			5
Issuance of common stock upon vesting of restricted stock units (in shares)		2,393,234
Stock-based compensation expense	74			74
Vesting of restricted stock	1			1
Cumulative translation adjustment	0
Unrealized loss on marketable securities	(2)					(2)
Net loss	(98)				(98)
Ending balance (in shares) at Jun. 30, 2023		532,936,724
Ending balance at Jun. 30, 2023	$ 1,079	$ 0	$ 0	$ 2,637	$ (1,556)	$ (2)
Ending balance (in shares) at Jun. 30, 2023	225,000		225,000

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Cash flows from operating activities:
Net loss	$ (179)	$ (77)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	14	12
Stock-based compensation expense	135	110
Amortization of deferred costs	28	20
Change in fair value of warrant liability	23	(123)
Credit loss expense	25	7
Change in deferred income taxes	(1)	0
Asset impairments	15	0
Other	(12)	3
Changes in operating assets and liabilities:
Accounts receivable, net	(42)	(15)
Prepaid expenses and other current assets	(3)	(11)
Deferred costs, net	(50)	(35)
Inventories, net	4	(20)
Accounts payable	12	(4)
Accrued expenses and other current liabilities	24	76
Deferred revenue	7	(4)
Operating lease right-of-use assets and operating lease liabilities	1	0
Other assets and liabilities	(6)	(7)
Net cash used in operating activities	(5)	(68)
Cash flows from investing activities:
Cash paid for acquisition, net of cash acquired	(9)	0
Capitalized software	(17)	(5)
Purchases of property and equipment	(4)	(7)
Purchases of marketable securities	(351)	(140)
Proceeds from the sale of marketable securities	13	32
Maturities of marketable securities	315	78
Other investing activities	(1)	0
Net cash used in investing activities	(54)	(42)
Cash flows from financing activities:
Change in customer funds obligations, net	31	37
Proceeds from issuance of common stock	15	7
Payment of contingent consideration	0	(2)
Net cash provided by financing activities	46	42
Net (decrease) increase in cash, cash equivalents, cash held on behalf of customers and restricted cash	(13)	(68)
Cash, cash equivalents, cash held on behalf of customers and restricted cash at beginning of period	635	851
Cash, cash equivalents, cash held on behalf of customers and restricted cash at end of period	622	783
Reconciliation of cash, cash equivalents, cash held on behalf of customers and restricted cash
Cash and cash equivalents	488	697
Cash held on behalf of customers	91	72
Restricted cash	43	14
Total cash, cash equivalents, cash held on behalf of customers and restricted cash	622	783
Supplemental disclosure of non-cash investing and financing activities:
Issuance of Class B common stock upon exercise of common stock warrants	$ 1	$ 18

Description of Business, Basis

Description of Business, Basis of Presentation and Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Description of Business, Basis of Presentation and Summary of Significant Accounting Policies	Description of Business, Basis of Presentation, and Summary of Significant Accounting Policies Toast, Inc. (“we,” or “the Company”), is a cloud-based all-in-one digital technology platform purpose-built for the entire restaurant community. We provide a comprehensive platform of software as a service (SaaS) products and financial technology solutions, including integrated payment processing, restaurant-grade hardware, and a broad ecosystem of third-party partners. We serve as the restaurant operating system, connecting front of house and back of house operations across dine-in, takeout, and delivery channels. Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America, or U.S. GAAP, and the rules and regulations of the Securities and Exchange Commission, or SEC, regarding interim financial reporting. Accordingly, they do not include all of the financial information and footnotes required by U.S. GAAP for complete financial statements. The unaudited condensed consolidated financial statements include the accounts of the Company and its subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. The unaudited condensed consolidated financial statements reflect all normal recurring adjustments necessary to present fairly our financial position, results of operations, comprehensive loss, stockholders’ equity, and cash flows for the interim periods, but are not necessarily indicative of the results of operations to be expected for the full year ending December 31, 2023 or any other future interim periods. The unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes included in our Annual Report on Form 10-K for the year ended December 31, 2022, or the 2022 Annual Report. The Condensed Consolidated Balance Sheet as of December 31, 2022 included herein was derived from the audited financial statements as of that date. Risks and Uncertainties We are subject to a number of risks and uncertainties, including global events and macroeconomic conditions such as inflation and its potential impact on consumer spending, rising interest rates, global supply chain issues, and public health concerns, which may also impact consumer behavior, the restaurant industry, and our business. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make certain estimates and assumptions. These estimates and assumptions affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Reclassifications Certain amounts in prior period financial statements have been reclassified to conform to the current period presentation.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Fair Value of Financial Instruments The following table presents information about our financial assets and liabilities that are measured at fair value on a recurring basis and indicates the level of the fair value hierarchy used to determine such fair values: Fair Value Measurement at June 30, 2023 Using Level 1 Level 2 Level 3 Total Assets: Money market funds $ 265 $ — $ — $ 265 Commercial paper — 104 — 104 Certificates of deposit — 78 — 78 Corporate bonds — 17 — 17 U.S. government agency securities — 113 — 113 Treasury securities — 134 — 134 Asset-backed securities — 56 — 56 $ 265 $ 502 $ — $ 767 Liabilities: Warrants to purchase common stock $ — $ — $ 90 $ 90 $ — $ — $ 90 $ 90 Fair Value Measurement at December 31, 2022 Using Level 1 Level 2 Level 3 Total Assets: Money market funds $ 483 $ — $ — $ 483 Commercial paper — 140 — 140 Certificates of deposit — 104 — 104 Corporate bonds — 109 — 109 U.S. government agency securities — 33 — 33 Treasury securities — 60 — 60 Asset-backed securities — 28 — 28 $ 483 $ 474 $ — $ 957 Liabilities: Warrants to purchase common stock $ — $ — $ 68 $ 68 Contingent consideration — — 4 4 $ — $ — $ 72 $ 72 During the six months ended June 30, 2023 and 2022, there were no transfers into or out of Level 3 measurements within the fair value hierarchy. Valuation of Warrants to Purchase Common Stock The fair value of the warrants was determined using the Black-Scholes option-pricing model. The following table indicates the weighted-average assumptions made in estimating the fair value as of June 30, 2023 and December 31, 2022: June 30, 2023 December 31, 2022 Risk-free interest rate 4.3 % 4.1 % Contractual term (in years) 4 4 Expected volatility 61.4 % 60.3 % Expected dividend yield — % — % Exercise price per share $ 17.16 $ 17.16 Fair Value of Liabilities The following tables provide a roll-forward of the aggregate fair value of our common stock warrant liability and contingent consideration liability for which fair value is determined using Level 3 inputs: Common Stock Warrant Contingent Balance as of December 31, 2022 $ 68 $ 4 Change in fair value 23 — Settlement (1) (4) Balance as of June 30, 2023 $ 90 $ — Common Stock Warrant Liability Contingent Consideration Liability Balance as of December 31, 2021 $ 181 $ 5 Change in fair value (123) 2 Settlement (18) (4) Balance as of June 30, 2022 $ 40 $ 3 The contingent consideration liability relates to the Company’s acquisition of xtraCHEF, Inc., or xtraCHEF, in fiscal 2021. During the six months ended June 30, 2023, we paid $2 in cash and issued 38,908 shares of our Class A common stock to settle the remaining contingent consideration liability based on the achievement of 2022 revenue targets. During the six months ended June 30, 2022, we paid $2 in cash and issued 37,179 shares of our Class B common stock to settle the portion of our contingent consideration liability based on the achievement of 2021 revenue targets.

Marketable Securities

Marketable Securities	6 Months Ended
	Jun. 30, 2023
Investments, Debt and Equity Securities [Abstract]
Marketable Securities	Marketable Securities The amortized cost, gross unrealized holding losses and fair value of marketable securities, excluding accrued interest receivable, consisted of the following: June 30, 2023 Amortized Cost Gross Unrealized Losses Fair Value Commercial paper $ 104 $ — $ 104 Certificates of deposit 78 — 78 Corporate bonds 17 — 17 U.S. government agency securities 113 — 113 Treasury securities 136 (2) 134 Asset-backed securities 56 — 56 Total $ 504 $ (2) $ 502 December 31, 2022 Amortized Cost Gross Unrealized Losses Fair Value Commercial paper $ 140 $ — $ 140 Certificates of deposit 104 — 104 Corporate bonds 110 (1) 109 U.S. government agency securities 33 — 33 Treasury securities 61 (1) 60 Asset-backed securities 28 — 28 Total $ 476 $ (2) $ 474 The fair values of marketable securities by contractual maturities at June 30, 2023: June 30, Due within 1 year $ 337 Due after 1 year through 5 years 163 Due after 5 years through 10 years 2 Total marketable securities $ 502 We review marketable securities for impairment during each reporting period to determine if any of the securities have experienced an other-than-temporary decline in fair value. There were no impairment losses or expected credit losses related to our marketable securities during the three and six months ended June 30, 2023 and 2022.

Loan Servicing Activities and A

Loan Servicing Activities and Acquired Loans Receivable, Net	6 Months Ended
	Jun. 30, 2023
Guarantees and Product Warranties [Abstract]
Loan Servicing Activities and Acquired Loans Receivable, Net	Loan Servicing Activities and Acquired Loans Receivable, Net We service loans originated by our bank partner and assume liability for loan defaults on a limited basis based on a specified percentage of the total loans originated, which are measured on a quarterly basis. If the merchant’s payments are delayed for a defined period of time, the loan is considered delinquent and we are required to purchase the loan from our bank partner. The loan purchase, net of expected recoveries, reduces our potential liability with respect to the quarterly cohort of loans from which the defaulted loan originated. This obligation represents a financial guarantee with a contingent aspect related to our contingent obligation to purchase defaulted loans, and a non-contingent aspect related to our obligation to perform under the guarantee. We recognize a liability for both these elements which are included in accrued expenses and other current liabilities on our Condensed Consolidated Balance Sheets. Changes in the contingent liability for expected credit losses for the three and six months ended June 30, 2023 and 2022 were as follows: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Beginning balance $ 19 $ 3 $ 14 $ 2 Credit loss expense 10 3 22 5 Reductions due to loan purchase (7) (1) (14) (2) Ending balance $ 22 $ 5 $ 22 $ 5 The balance of the non-contingent stand-ready liability was $11 and $6, respectively, as of June 30, 2023 and December 31, 2022.

Lessee Arrangements

Lessee Arrangements	6 Months Ended
	Jun. 30, 2023
Leases [Abstract]
Lessee Arrangements	Lessee Arrangements During the three months ended June 30, 2023, we entered into an agreement to terminate the lease for a portion of our corporate headquarters in Boston, MA, and modify the remaining lease term to end on December 31, 2024. As a result, we agreed to pay a net fee of $11. We recorded a net charge of $12 within general and administrative expenses on our Condensed Consolidated Statement of Operations, inclusive of a loss on impairment of certain property plant and equipment associated with the terminated portion of the lease. The components of lease expense were as follows for the three and six months ended June 30, 2023 and 2022: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Operating lease expense $ 4 $ 7 $ 8 $ 11 Variable lease expense — 1 1 2 Total $ 4 $ 8 $ 9 $ 13 The following table summarizes supplemental cash flow information related to cash paid for amounts included in the measurement of lease liabilities during the six months ended June 30, 2023 and 2022: Six Months Ended June 30, 2023 2022 Operating cash flows for operating leases $ (11) $ (13) Supplemental non-cash amounts of increases in lease liabilities from obtaining right-of-use assets/ (decreases) of lease liabilities from lease terminations and modifications (55) 3 Total $ (66) $ (10)

Debt

Debt	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Debt	Debt Revolving Line of Credit On March 2, 2023, we entered into an amendment to our revolving credit facility agreement, as amended, the 2021 Facility, to replace the London Interbank Offered Rate, or LIBOR, with the Secured Overnight Financing Rate, or SOFR. Under the terms of the amendment, interest on loans will be determined based on loan type and accrue at an annual rate, as defined in the agreement, of 1.50% per annum; or 0.5% per annum plus the highest of: (i) the Prime Rate, (ii) the Federal Reserve Bank of New York Rate plus 0.5%, or (iii) the Adjusted SOFR based upon loan duration plus 1.00%. The 2021 Facility is subject to a minimum liquidity covenant of $250. As of June 30, 2023 and December 31, 2022, no amounts were drawn or outstanding under the 2021 Facility which had $330 available as of each period end.

Business Combinations

Business Combinations	6 Months Ended
	Jun. 30, 2023
Business Combination and Asset Acquisition [Abstract]
Business Combinations	Business Combinations Delphi Display Systems, Inc. On February 14, 2023, we acquired 100% of the outstanding capital stock of Delphi Display Systems, Inc., or Delphi, a provider of digital display solutions and drive-thru technology, for a total purchase price of $10, to extend our growing suite of products benefiting quick-service restaurants and enterprise brands. We have not finalized the purchase price allocation. The purchase price was preliminarily allocated to goodwill, intangible assets and other net assets of $6, $3 and $1, respectively. Intangible assets consisted of $2 of developed technology and $1 of customer relationships, each with estimated useful lives of 5 years. Goodwill is not deductible for tax purposes, and primarily attributable to synergies expected to arise after the acquisition. The operating results of Delphi have been reflected in our results of operations from the date of the acquisition, but were not material to our consolidated financial statements.

Other Balance Sheet Information

Other Balance Sheet Information	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Other Balance Sheet Information	Other Balance Sheet Information Accounts receivable, net consisted of the following: June 30, December 31, Accounts receivable $ 72 $ 45 Unbilled receivables 53 44 Less: Allowance for credit losses (10) (12) Accounts receivable, net $ 115 $ 77 Our allowance for credit losses was comprised of the following: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Beginning balance $ (9) $ (4) $ (12) $ (4) Additions (3) (2) (3) (3) Write offs 2 1 5 2 Ending balance $ (10) $ (5) $ (10) $ (5) Prepaid expenses and other current assets consisted of the following: June 30, December 31, Cash held on behalf of customers $ 91 $ 60 Prepaid expenses 24 27 Deposits for inventory purchases 13 20 Other current assets 63 48 $ 191 $ 155 Accrued expenses and current liabilities consisted of the following: June 30, December 31, Accrued transaction-based costs $ 220 $ 181 Accrued payroll and bonus 58 59 Customer funds obligation 91 60 Accrued expenses 48 45 Accrued commissions 20 15 Contingent liability for expected credit losses 22 14 Other liabilities 34 39 $ 493 $ 413

Revenue from Contracts with Cus

Revenue from Contracts with Customers	6 Months Ended
	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Revenue from Contracts with Customers	Revenue from Contracts with Customers The following table summarizes the activity in deferred revenue: Six Months Ended June 30, 2023 2022 Deferred revenue, beginning of year $ 46 $ 56 Deferred revenue, end of period 53 52 Revenue recognized in the period from amounts included in deferred revenue at the beginning of period $ 40 $ 35 As of June 30, 2023, approximately $579 of revenue is expected to be recognized from remaining performance obligations for customer contracts. We expect to recognize revenue of approximately $535 from these remaining performance obligations over the next 24 months, with the balance recognized thereafter. The following tables summarize the activity in deferred contract acquisition costs and the classification of deferred costs: Six Months Ended June 30, 2023 2022 Beginning balance $ 82 $ 55 Capitalization of sales commissions costs 50 35 Amortization of sales commissions costs (28) (20) Ending balance $ 104 $ 70

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation Stock-based compensation expense recognized for the three and six months ended June 30, 2023 and 2022, is as follows: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Costs of revenue $ 11 $ 8 $ 20 $ 16 Sales and marketing 15 13 28 25 Research and development 25 18 46 34 General and administrative 21 19 41 35 Total Stock based compensation $ 72 $ 58 $ 135 $ 110 Stock-based compensation expense of $3 and $6, respectively, was capitalized as software development costs during the three and six months ended June 30, 2023. Stock-based compensation expense of $1 and $2, respectively, was capitalized as software development costs during each of the three and six months ended June 30, 2022. Stock Options The fair value of each option grant was estimated on its grant date using the Black-Scholes option-pricing model. The following table indicates the weighted-average assumptions made in estimating the fair value for the six months ended June 30, 2023 and 2022: Six Months Ended June 30, 2023 2022 Risk-free interest rate 3.90 % 2.16 % Expected term (in years) 6.08 6.06 Expected volatility 56.19 % 51.41 % Expected dividend yield — % — % Weighted-average fair value of common stock $ 18.01 $ 17.76 Weighted-average grant date fair value $ 10.24 $ 9.02 The following is a summary of stock option activity under our stock option plans for the six months ended June 30, 2023: (in millions, except share and per share amounts) Number of Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term (Years) Aggregate Intrinsic Value (1) Outstanding as of December 31, 2022 53,728,512 $ 5.98 6.94 $ 655 Granted 3,147,911 18.01 Exercised (4,790,307) 2.33 Forfeited (433,118) 11.00 Outstanding as of June 30, 2023 51,652,998 $ 7.01 6.77 $ 806 Options vested and expected to vest as of June 30, 2023 49,280,264 $ 6.72 6.68 $ 783 Options exercisable as of June 30, 2023 44,051,781 $ 5.11 6.34 $ 767 (1 ) The aggregate intrinsic value was determined as the difference between the closing price of the Class A common stock on the last trading day of June 2023, or the date of exercise, as appropriate, and the exercise price, multiplied by the number of in-the-money options that would have been received by the option holders had all option holders exercised their in-the-money options at period end. The weighted average grant date fair value of options granted during the three months ended June 30, 2023 was $13.16. There were no options granted during the three months ended June 30, 2022. The aggregate intrinsic values of options exercised was $36 and $86, respectively, during the three and six months ended June 30, 2023 and $25 and $81, respectively, during the three and six months ended June 30, 2022. As of June 30, 2023, total unrecognized stock-based compensation expense related to the option awards was $105 and is expected to be recognized over the remaining weighted-average service period of 2.94 years. Restricted Stock Units The following table summarizes RSU activity during the six months ended June 30, 2023 : RSU Weighted Average Grant Date Fair Value Unvested balance as of December 31, 2022 31,242,263 $ 22.11 Granted 12,483,091 $ 18.43 Vested (4,806,043) $ 21.93 Forfeited (1,452,993) $ 22.09 Unvested balance as of June 30, 2023 37,466,318 $ 20.90 The weighted average grant-date fair value of RSUs granted during the three months ended June 30, 2023 and 2022 was $20.95 and $15.88, respectively. The weighted average grant-date fair value of RSUs granted during the six months ended June 30, 2022 was 18.59. The fair value of RSUs vested during the three months ended June 30, 2023 and 2022 was $45 and $26, respectively. The fair value of RSUs vested during the six months ended June 30, 2023 and 2022 was $93 and $29, respectively. As of June 30, 2023, total unrecognized stock-based compensation expense related to the RSUs was $561 and is expected to be recognized over the remaining weighted-average service period of 3.14 years. As of June 30, 2023, we had 67,430,636 shares of Class A common stock available for future issuance under our 2021 Plan. 2021 Employee Stock Purchase Plan In 2021, our Board adopted, and our stockholders approved, the 2021 Employee Stock Purchase Plan ("ESPP") which became effective on September 23, 2021. As of June 30, 2023, 21,653,080 shares of our Class A common stock were authorized for issuance to participating employees who are allowed to purchase shares of Class A common stock at a price equal to 85% of its fair market value at the beginning or the end of the offering period, whichever is lower. During the six months ended June 30, 2023, 287,086 shares were purchased under the ESPP at $15.65 per share, resulting in cash proceeds of $4. No shares were purchased under the ESPP during the six months ended June 30, 2022. Restricted Stock As of June 30, 2023 and December 31, 2022, we have issued 1,817,462 and 2,703,538 shares of Class A and B common stock subject to restrictions, respectively. As of June 30, 2023, this included 452,180 shares of Class A common stock and Class B common stock issued upon the early exercise of stock options and 1,365,282 shares of restricted Class A common stock issued to certain members of management of Delphi and Sling, Inc. as part of their consideration in connection with the acquisitions. As of December 31, 2022, this included 1,365,310 shares of Class A common stock and Class B common stock issued upon the early exercise of stock options and 1,338,228 shares of restricted Class A common stock issued to certain members of management of Sling, Inc. as part of their consideration in connection with the acquisition in 2022.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Our effective income tax rate was (0.8)% and (0.5)% for the three months ended June 30, 2023 and 2022 , respectively, and was (0.5)% and (0.7)% for the six months ended June 30, 2023 and 2022, respectively. The effective tax rate for each period differs from the statutory rate primarily as a result of having a full valuation allowance maintained against our U.S. deferred tax assets. The provision for income taxes was $1 and $0 for both the three and six months ended June 30, 2023 and June 30, 2022, respectively. The change in the provision for income taxes for the six months ended June 30, 2023 compared to the six months ended June 30, 2022 is due to the tax expense recorded on the earnings of our profitable foreign subsidiaries, and also included a non-recurring benefit of $1 for the release of the valuation allowance as a result of the acquisition of Delphi. The release is due to taxable temporary differences resulting from the Delphi acquisition being available as a source of income to realize certain pre-existing Toast, Inc. deferred tax assets.

Net Loss Per Share Attributable

Net Loss Per Share Attributable to Common Stockholders	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Net Loss Per Share Attributable to Common Stockholders	Net Loss Per Share Attributable to Common Stockholders Basic net loss per share is determined by dividing net loss by the weighted average shares outstanding for the period. We analyze the potential dilutive effect of stock options, unvested restricted stock, RSUs, our ESPP, and warrants to purchase common stock, during periods we generate net income, or when income is recognized related to changes in fair value of warrant liabilities. During the three and six months ended June 30, 2023, we recorded a loss on fair value remeasurement of warrants to purchase common stock which are excluded from the computation of diluted net loss per share due to their anti-dilutive impact. During the three and six months ended June 30, 2022, we recorded a gain on fair value remeasurement of warrants to purchase common stock. For the six months ended June 30, 2022, this was added back to the numerator to adjust net loss for the dilutive impact of the warrants with a corresponding adjustment to the denominator for the incremental dilutive shares using the treasury stock method. For the three months ended June 30, 2022, the exercise price for the warrants exceeded the average trading price of our Class A common stock, therefore, no adjustment was made to the numerator or denominator due to their anti-dilutive impact. The following table sets forth the computation of basic and diluted net loss per share attributable to common stockholders for the three and six months ended June 30, 2023 and 2022: (in millions, except share and per share amounts) Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Numerator: Net loss, basic $ (98) $ (54) $ (179) $ (77) Gain on change in fair value of warrant liability — — — 123 Net loss, diluted $ (98) $ (54) $ (179) $ (200) Denominator: Weighted average shares of common stock outstanding—basic 529,226,266 509,532,418 526,677,000 507,420,257 Effect of dilutive securities: Warrants to purchase Class B common stock — — — 756,238 Weighted average shares of common stock outstanding—diluted 529,226,266 509,532,418 526,677,000 508,176,495 Net loss per share, basic $ (0.19) $ (0.11) $ (0.34) $ (0.15) Net loss per share, diluted $ (0.19) $ (0.11) $ (0.34) $ (0.39) We excluded the following potential shares of common stock from the computation of diluted net loss per share because including them would have an anti-dilutive effect for the three and six months ended June 30, 2023 and 2022: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Options to purchase Class A common stock and Class B common stock 51,652,998 56,687,498 51,652,998 56,687,498 Unvested restricted stock 1,817,462 2,624,790 1,817,462 2,624,790 Unvested restricted stock units 37,466,318 26,198,339 37,466,318 26,198,339 Warrants to purchase Class B common stock 6,790,080 6,902,633 6,790,080 — Employee Stock Purchase Plan 289,219 — 289,219 — 98,016,077 92,413,260 98,016,077 85,510,627

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
Segment Information	Segment Information We have significant operations in the United States, Ireland, and India. We did not generate material revenue in any country other than the United States during the three and six months ended June 30, 2023 and 2022. The following table sets forth the breakdown of long-lived assets based on geography: June 30, December 31, United States $ 71 $ 122 Ireland 9 10 India 5 5 Other 1 1 Total long-lived assets $ 86 $ 138 Tangible long-lived assets consist of property and equipment and operating lease right-of-use assets. Long-lived assets are based upon the country in which the asset is located.

Commitment and Contingencies

Commitment and Contingencies	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Purchase Commitments We have non-cancelable purchase obligations with hardware suppliers and cloud service providers. As of June 30, 2023, there were no material changes outside the ordinary course of business to our commitments, as disclosed in our Annual Report on Form 10-K for the year ended December 31, 2022. Legal Proceedings From time to time, we may be involved in legal actions arising in the ordinary course of business. Each of these matters is subject to various uncertainties, and it is possible that some of these matters may be resolved unfavorably. We establish accruals for losses that management deems to be probable and subject to a reasonable estimate. We do not expect any claims with a reasonably possible adverse outcome to have a material impact.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Pay vs Performance Disclosure
Net loss	$ (98)	$ (54)	$ (179)	$ (77)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 30, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Description of Business, Basi_2

Description of Business, Basis of Presentation and Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America, or U.S. GAAP, and the rules and regulations of the Securities and Exchange Commission, or SEC, regarding interim financial reporting. Accordingly, they do not include all of the financial information and footnotes required by U.S. GAAP for complete financial statements. The unaudited condensed consolidated financial statements include the accounts of the Company and its subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. The unaudited condensed consolidated financial statements reflect all normal recurring adjustments necessary to present fairly our financial position, results of operations, comprehensive loss, stockholders’ equity, and cash flows for the interim periods, but are not necessarily indicative of the results of operations to be expected for the full year ending December 31, 2023 or any other future interim periods.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make certain estimates and assumptions. These estimates and assumptions affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenue and expenses during the reporting period.
Reclassifications	Reclassifications Certain amounts in prior period financial statements have been reclassified to conform to the current period presentation.

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities Measured on Recurring Basis	The following table presents information about our financial assets and liabilities that are measured at fair value on a recurring basis and indicates the level of the fair value hierarchy used to determine such fair values: Fair Value Measurement at June 30, 2023 Using Level 1 Level 2 Level 3 Total Assets: Money market funds $ 265 $ — $ — $ 265 Commercial paper — 104 — 104 Certificates of deposit — 78 — 78 Corporate bonds — 17 — 17 U.S. government agency securities — 113 — 113 Treasury securities — 134 — 134 Asset-backed securities — 56 — 56 $ 265 $ 502 $ — $ 767 Liabilities: Warrants to purchase common stock $ — $ — $ 90 $ 90 $ — $ — $ 90 $ 90 Fair Value Measurement at December 31, 2022 Using Level 1 Level 2 Level 3 Total Assets: Money market funds $ 483 $ — $ — $ 483 Commercial paper — 140 — 140 Certificates of deposit — 104 — 104 Corporate bonds — 109 — 109 U.S. government agency securities — 33 — 33 Treasury securities — 60 — 60 Asset-backed securities — 28 — 28 $ 483 $ 474 $ — $ 957 Liabilities: Warrants to purchase common stock $ — $ — $ 68 $ 68 Contingent consideration — — 4 4 $ — $ — $ 72 $ 72
Schedule of Measurement Inputs and Valuation Techniques	The following table indicates the weighted-average assumptions made in estimating the fair value as of June 30, 2023 and December 31, 2022: June 30, 2023 December 31, 2022 Risk-free interest rate 4.3 % 4.1 % Contractual term (in years) 4 4 Expected volatility 61.4 % 60.3 % Expected dividend yield — % — % Exercise price per share $ 17.16 $ 17.16
Schedule of Liabilities Measured on Recurring and Nonrecurring Basis	The following tables provide a roll-forward of the aggregate fair value of our common stock warrant liability and contingent consideration liability for which fair value is determined using Level 3 inputs: Common Stock Warrant Contingent Balance as of December 31, 2022 $ 68 $ 4 Change in fair value 23 — Settlement (1) (4) Balance as of June 30, 2023 $ 90 $ — Common Stock Warrant Liability Contingent Consideration Liability Balance as of December 31, 2021 $ 181 $ 5 Change in fair value (123) 2 Settlement (18) (4) Balance as of June 30, 2022 $ 40 $ 3

Marketable Securities (Tables)

Marketable Securities (Tables)	6 Months Ended
	Jun. 30, 2023
Investments, Debt and Equity Securities [Abstract]
Schedule of Debt Securities Available-for-sale	The amortized cost, gross unrealized holding losses and fair value of marketable securities, excluding accrued interest receivable, consisted of the following: June 30, 2023 Amortized Cost Gross Unrealized Losses Fair Value Commercial paper $ 104 $ — $ 104 Certificates of deposit 78 — 78 Corporate bonds 17 — 17 U.S. government agency securities 113 — 113 Treasury securities 136 (2) 134 Asset-backed securities 56 — 56 Total $ 504 $ (2) $ 502 December 31, 2022 Amortized Cost Gross Unrealized Losses Fair Value Commercial paper $ 140 $ — $ 140 Certificates of deposit 104 — 104 Corporate bonds 110 (1) 109 U.S. government agency securities 33 — 33 Treasury securities 61 (1) 60 Asset-backed securities 28 — 28 Total $ 476 $ (2) $ 474 The fair values of marketable securities by contractual maturities at June 30, 2023: June 30, Due within 1 year $ 337 Due after 1 year through 5 years 163 Due after 5 years through 10 years 2 Total marketable securities $ 502

Loan Servicing Activities and_2

Loan Servicing Activities and Acquired Loans Receivable, Net (Tables)	6 Months Ended
	Jun. 30, 2023
Guarantees and Product Warranties [Abstract]
Schedule of Off-Balance Sheet Credit Loss Liability	Changes in the contingent liability for expected credit losses for the three and six months ended June 30, 2023 and 2022 were as follows: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Beginning balance $ 19 $ 3 $ 14 $ 2 Credit loss expense 10 3 22 5 Reductions due to loan purchase (7) (1) (14) (2) Ending balance $ 22 $ 5 $ 22 $ 5

Lessee Arrangements (Tables)

Lessee Arrangements (Tables)	6 Months Ended
	Jun. 30, 2023
Leases [Abstract]
Schedule of Lease Cost	The components of lease expense were as follows for the three and six months ended June 30, 2023 and 2022: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Operating lease expense $ 4 $ 7 $ 8 $ 11 Variable lease expense — 1 1 2 Total $ 4 $ 8 $ 9 $ 13 The following table summarizes supplemental cash flow information related to cash paid for amounts included in the measurement of lease liabilities during the six months ended June 30, 2023 and 2022: Six Months Ended June 30, 2023 2022 Operating cash flows for operating leases $ (11) $ (13) Supplemental non-cash amounts of increases in lease liabilities from obtaining right-of-use assets/ (decreases) of lease liabilities from lease terminations and modifications (55) 3 Total $ (66) $ (10)

Other Balance Sheet Informati_2

Other Balance Sheet Information (Tables)	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Accounts Receivable	Accounts receivable, net consisted of the following: June 30, December 31, Accounts receivable $ 72 $ 45 Unbilled receivables 53 44 Less: Allowance for credit losses (10) (12) Accounts receivable, net $ 115 $ 77
Schedule of Accounts Receivable Allowance for Credit Loss	Our allowance for credit losses was comprised of the following: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Beginning balance $ (9) $ (4) $ (12) $ (4) Additions (3) (2) (3) (3) Write offs 2 1 5 2 Ending balance $ (10) $ (5) $ (10) $ (5)
Schedule of Prepaid and Other Current Assets	Prepaid expenses and other current assets consisted of the following: June 30, December 31, Cash held on behalf of customers $ 91 $ 60 Prepaid expenses 24 27 Deposits for inventory purchases 13 20 Other current assets 63 48 $ 191 $ 155
Schedule of Accounts Payable and Accrued Liabilities	Accrued expenses and current liabilities consisted of the following: June 30, December 31, Accrued transaction-based costs $ 220 $ 181 Accrued payroll and bonus 58 59 Customer funds obligation 91 60 Accrued expenses 48 45 Accrued commissions 20 15 Contingent liability for expected credit losses 22 14 Other liabilities 34 39 $ 493 $ 413

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	6 Months Ended
	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Schedule of Contract Asset Contract Liability and Receivable	The following table summarizes the activity in deferred revenue: Six Months Ended June 30, 2023 2022 Deferred revenue, beginning of year $ 46 $ 56 Deferred revenue, end of period 53 52 Revenue recognized in the period from amounts included in deferred revenue at the beginning of period $ 40 $ 35
Schedule of Capitalized Contract Cost	The following tables summarize the activity in deferred contract acquisition costs and the classification of deferred costs: Six Months Ended June 30, 2023 2022 Beginning balance $ 82 $ 55 Capitalization of sales commissions costs 50 35 Amortization of sales commissions costs (28) (20) Ending balance $ 104 $ 70

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of Share-based Compensation Expense	Stock-based compensation expense recognized for the three and six months ended June 30, 2023 and 2022, is as follows: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Costs of revenue $ 11 $ 8 $ 20 $ 16 Sales and marketing 15 13 28 25 Research and development 25 18 46 34 General and administrative 21 19 41 35 Total Stock based compensation $ 72 $ 58 $ 135 $ 110
Schedule of Stock Options Valuation Assumptions	The following table indicates the weighted-average assumptions made in estimating the fair value for the six months ended June 30, 2023 and 2022: Six Months Ended June 30, 2023 2022 Risk-free interest rate 3.90 % 2.16 % Expected term (in years) 6.08 6.06 Expected volatility 56.19 % 51.41 % Expected dividend yield — % — % Weighted-average fair value of common stock $ 18.01 $ 17.76 Weighted-average grant date fair value $ 10.24 $ 9.02
Schedule of Stock Option Activity	The following is a summary of stock option activity under our stock option plans for the six months ended June 30, 2023: (in millions, except share and per share amounts) Number of Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term (Years) Aggregate Intrinsic Value (1) Outstanding as of December 31, 2022 53,728,512 $ 5.98 6.94 $ 655 Granted 3,147,911 18.01 Exercised (4,790,307) 2.33 Forfeited (433,118) 11.00 Outstanding as of June 30, 2023 51,652,998 $ 7.01 6.77 $ 806 Options vested and expected to vest as of June 30, 2023 49,280,264 $ 6.72 6.68 $ 783 Options exercisable as of June 30, 2023 44,051,781 $ 5.11 6.34 $ 767 (1 ) The aggregate intrinsic value was determined as the difference between the closing price of the Class A common stock on the last trading day of June 2023, or the date of exercise, as appropriate, and the exercise price, multiplied by the number of in-the-money options that would have been received by the option holders had all option holders exercised their in-the-money options at period end.
Schedule of Restricted Stock Unit Activity	The following table summarizes RSU activity during the six months ended June 30, 2023 : RSU Weighted Average Grant Date Fair Value Unvested balance as of December 31, 2022 31,242,263 $ 22.11 Granted 12,483,091 $ 18.43 Vested (4,806,043) $ 21.93 Forfeited (1,452,993) $ 22.09 Unvested balance as of June 30, 2023 37,466,318 $ 20.90

Net Loss Per Share Attributab_2

Net Loss Per Share Attributable to Common Stockholders (Tables)	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Schedule of Earnings Per Share Basic and Diluted	The following table sets forth the computation of basic and diluted net loss per share attributable to common stockholders for the three and six months ended June 30, 2023 and 2022: (in millions, except share and per share amounts) Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Numerator: Net loss, basic $ (98) $ (54) $ (179) $ (77) Gain on change in fair value of warrant liability — — — 123 Net loss, diluted $ (98) $ (54) $ (179) $ (200) Denominator: Weighted average shares of common stock outstanding—basic 529,226,266 509,532,418 526,677,000 507,420,257 Effect of dilutive securities: Warrants to purchase Class B common stock — — — 756,238 Weighted average shares of common stock outstanding—diluted 529,226,266 509,532,418 526,677,000 508,176,495 Net loss per share, basic $ (0.19) $ (0.11) $ (0.34) $ (0.15) Net loss per share, diluted $ (0.19) $ (0.11) $ (0.34) $ (0.39)
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	We excluded the following potential shares of common stock from the computation of diluted net loss per share because including them would have an anti-dilutive effect for the three and six months ended June 30, 2023 and 2022: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Options to purchase Class A common stock and Class B common stock 51,652,998 56,687,498 51,652,998 56,687,498 Unvested restricted stock 1,817,462 2,624,790 1,817,462 2,624,790 Unvested restricted stock units 37,466,318 26,198,339 37,466,318 26,198,339 Warrants to purchase Class B common stock 6,790,080 6,902,633 6,790,080 — Employee Stock Purchase Plan 289,219 — 289,219 — 98,016,077 92,413,260 98,016,077 85,510,627

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
Schedule of Long-lived Assets by Geographic Areas	The following table sets forth the breakdown of long-lived assets based on geography: June 30, December 31, United States $ 71 $ 122 Ireland 9 10 India 5 5 Other 1 1 Total long-lived assets $ 86 $ 138

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Schedule of Assets and Liabilities Measured on Recurring Basis (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrants to purchase common stock	$ 90	$ 68
Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	767	957
Warrants to purchase common stock	90	68
Contingent consideration		4
Total liabilities	90	72
Fair Value, Recurring | Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	265	483
Fair Value, Recurring | Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	104	140
Fair Value, Recurring | Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	78	104
Fair Value, Recurring | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	17	109
Fair Value, Recurring | U.S. government agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	113	33
Fair Value, Recurring | Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	134	60
Fair Value, Recurring | Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	56	28
Fair Value, Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	265	483
Warrants to purchase common stock	0	0
Contingent consideration		0
Total liabilities	0	0
Fair Value, Recurring | Level 1 | Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	265	483
Fair Value, Recurring | Level 1 | Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0	0
Fair Value, Recurring | Level 1 | Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0	0
Fair Value, Recurring | Level 1 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0	0
Fair Value, Recurring | Level 1 | U.S. government agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0	0
Fair Value, Recurring | Level 1 | Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0	0
Fair Value, Recurring | Level 1 | Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0	0
Fair Value, Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	502	474
Warrants to purchase common stock	0	0
Contingent consideration		0
Total liabilities	0	0
Fair Value, Recurring | Level 2 | Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0	0
Fair Value, Recurring | Level 2 | Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	104	140
Fair Value, Recurring | Level 2 | Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	78	104
Fair Value, Recurring | Level 2 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	17	109
Fair Value, Recurring | Level 2 | U.S. government agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	113	33
Fair Value, Recurring | Level 2 | Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	134	60
Fair Value, Recurring | Level 2 | Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	56	28
Fair Value, Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	0	0
Warrants to purchase common stock	90	68
Contingent consideration		4
Total liabilities	90	72
Fair Value, Recurring | Level 3 | Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0	0
Fair Value, Recurring | Level 3 | Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0	0
Fair Value, Recurring | Level 3 | Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0	0
Fair Value, Recurring | Level 3 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0	0
Fair Value, Recurring | Level 3 | U.S. government agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0	0
Fair Value, Recurring | Level 3 | Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0	0
Fair Value, Recurring | Level 3 | Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	$ 0	$ 0

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Weighted Average Assumptions (Details) - Level 3	Jun. 30, 2023	Dec. 31, 2022
Risk-free interest rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrants, measurement inputs	0.043	0.041
Contractual term (in years)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrants, measurement inputs	4	4
Expected volatility
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrants, measurement inputs	0.614	0.603
Expected dividend yield
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrants, measurement inputs	0	0
Exercise price per share
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrants, measurement inputs	17.16	17.16

Fair Value of Financial Instr_5

Fair Value of Financial Instruments - Rollforward of Level 3 Inputs (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Common Stock Warrant Liability | Common Stock Warrants
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Beginning balance	$ 68	$ 181
Change in fair value	23	(123)
Settlement	(1)	(18)
Ending balance	90	40
Contingent Consideration Liability
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Beginning balance	4	5
Change in fair value	0	2
Settlement	(4)	(4)
Ending balance	$ 0	$ 3

Fair Value of Financial Instr_6

Fair Value of Financial Instruments - Narrative (Details) - Level 3 - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Common Class A
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash issued to settle contingent consideration	$ 2
Stock issued for settlement of contingent consideration (in shares)	38,908
Common Class B
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash issued to settle contingent consideration		$ 2
Stock issued for settlement of contingent consideration (in shares)		37,179

Marketable Securities - Schedul

Marketable Securities - Schedule of Available-for-Sale Securities (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 504	$ 476
Gross Unrealized Losses	(2)	(2)
Fair Value	502	474
Commercial paper
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	104	140
Gross Unrealized Losses	0	0
Fair Value	104	140
Certificates of deposit
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	78	104
Gross Unrealized Losses	0	0
Fair Value	78	104
Corporate bonds
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	17	110
Gross Unrealized Losses	0	(1)
Fair Value	17	109
U.S. government agency securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	113	33
Gross Unrealized Losses	0	0
Fair Value	113	33
Treasury securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	136	61
Gross Unrealized Losses	(2)	(1)
Fair Value	134	60
Asset-backed securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	56	28
Gross Unrealized Losses	0	0
Fair Value	$ 56	$ 28

Marketable Securities - Sched_2

Marketable Securities - Scheduled Maturities of Available-for-Sale Securities (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Due within 1 year	$ 337
Due after 1 year through 5 years	163
Due after 5 years through 10 years	2
Total marketable securities	$ 502	$ 474

Loan Servicing Activities and_3

Loan Servicing Activities and Acquired Loans Receivable, Net - Rollforward of Credit Losses (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Off-Balance Sheet, Credit Loss, Liability [Roll Forward]
Beginning balance	$ 19	$ 3	$ 14	$ 2
Credit loss expense	10	3	22	5
Reductions due to loan purchase	(7)	(1)	(14)	(2)
Ending balance	$ 22	$ 5	$ 22	$ 5

Loan Servicing Activities and_4

Loan Servicing Activities and Acquired Loans Receivable, Net - Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Non-contingent Stand-ready Liability
Guarantor Obligations [Line Items]
Guarantee liability	$ 11	$ 6

Lessee Arrangements - Narrative

Lessee Arrangements - Narrative (Details) $ in Millions	3 Months Ended
	Jun. 30, 2023 USD ($)
Lessee, Lease, Description [Line Items]
Operating lease, termination fee	$ 11
General and administrative
Lessee, Lease, Description [Line Items]
Operating lease, termination fee	$ 12

Lessee Arrangements - Schedule

Lessee Arrangements - Schedule of Components of Lease Expense (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Leases [Abstract]
Operating lease expense	$ 4	$ 7	$ 8	$ 11
Variable lease expense	0	1	1	2
Total	$ 4	$ 8	$ 9	$ 13

Lessee Arrangements - Schedul_2

Lessee Arrangements - Schedule of Supplemental Cash Flow Information (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Leases [Abstract]
Operating cash flows for operating leases	$ (11)	$ (13)
Supplemental non-cash amounts of increases in lease liabilities from obtaining right-of-use assets/ (decreases) of lease liabilities from lease terminations and modifications	(55)	3
Total	$ (66)	$ (10)

Debt (Details)

Debt (Details) - Revolving Credit Facility - 2021 Credit Facility - Line of Credit - USD ($)	Mar. 02, 2023	Jun. 30, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Minimum liquidity amount	$ 250,000,000
Long term debt, amount available		$ 0	$ 0
Maximum borrowing capacity	$ 330,000,000
London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)	1.50%
Prime Rate
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)	0.50%
Federal Reserve Bank of New York Rate
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)	0.50%
Adjusted SOFR Rate
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)	1%

Business Combinations (Details)

Business Combinations (Details) - USD ($) $ in Millions	Feb. 14, 2023	Jun. 30, 2023	Dec. 31, 2022
Business Acquisition [Line Items]
Goodwill		$ 113	$ 107
Delphi Display Systems, Inc
Business Acquisition [Line Items]
Voting interest acquired (as a percent)	100%
Consideration transferred	$ 10
Goodwill	6
Intangible assets	3
Other assets	1
Delphi Display Systems, Inc | Developed Technology
Business Acquisition [Line Items]
Intangible assets	$ 2
Finite lived intangibles acquired, weighted average useful life (in years)	5 years
Delphi Display Systems, Inc | Customer Relationships
Business Acquisition [Line Items]
Intangible assets	$ 1
Finite lived intangibles acquired, weighted average useful life (in years)	5 years

Other Balance Sheet Informati_3

Other Balance Sheet Information - Schedule of Accounts Receivable (Details) - USD ($) $ in Millions	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accounts receivable	$ 72		$ 45
Unbilled receivables	53		44
Less: Allowance for credit losses	(10)	$ (9)	(12)	$ (5)	$ (4)	$ (4)
Accounts receivable, net	$ 115		$ 77

Other Balance Sheet Informati_4

Other Balance Sheet Information - Schedule of Allowance For Credit Losses (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ (9)	$ (4)	$ (12)	$ (4)
Additions	(3)	(2)	(3)	(3)
Write offs	2	1	5	2
Ending balance	$ (10)	$ (5)	$ (10)	$ (5)

Other Balance Sheet Informati_5

Other Balance Sheet Information - Schedule of Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cash held on behalf of customers	$ 91	$ 60	$ 72
Prepaid expenses	24	27
Deposits for inventory purchases	13	20
Other current assets	63	48
Prepaid expenses and other current assets	$ 191	$ 155

Other Balance Sheet Informati_6

Other Balance Sheet Information - Schedule of Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accrued transaction-based costs	$ 220	$ 181
Accrued payroll and bonus	58	59
Customer funds obligation	91	60
Accrued expenses	48	45
Accrued commissions	20	15
Contingent liability for expected credit losses	22	14
Other liabilities	34	39
Accrued expenses and other current liabilities	$ 493	$ 413

Revenue from Contracts with C_3

Revenue from Contracts with Customers - Summary of Activity of Deferred Revenue (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Deferred revenue	$ 53	$ 52	$ 46	$ 56
Revenue recognized in the period from amounts included in deferred revenue at the beginning of period	$ 40	$ 35

Revenue from Contracts with C_4

Revenue from Contracts with Customers - Narrative (Details) $ in Millions	Jun. 30, 2023 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, amount	$ 579
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, amount	$ 535
Remaining performance obligation, period (in months)	24 months

Revenue from Contracts with C_5

Revenue from Contracts with Customers - Summary of Capitalized Costs (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Increase (Decrease) in Capitalized Contract Costs [Roll Forward]
Beginning balance	$ 82	$ 55
Capitalization of sales commissions costs	50	35
Amortization of sales commissions costs	(28)	(20)
Ending balance	$ 104	$ 70

Stock-Based Compensation - Sche

Stock-Based Compensation - Schedule of Stock-based Compensation (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total Stock based compensation	$ 72	$ 58	$ 135	$ 110
Costs of revenue
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total Stock based compensation	11	8	20	16
Sales and marketing
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total Stock based compensation	15	13	28	25
Research and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total Stock based compensation	25	18	46	34
General and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total Stock based compensation	$ 21	$ 19	$ 41	$ 35

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation included in capitalized software	$ 3	$ 1	$ 6	$ 2
Weighted average fair value per share of options granted (in dollars per share)	$ 13.16
Granted (in shares)	0		3,147,911
Aggregate intrinsic value of options exercised	$ 36	$ 25	$ 86	$ 81
Unrecognized stock-based compensation expense related to options	$ 105		$ 105
Expected period for recognition (in years)			2 years 11 months 8 days
Issuance of common stock under employee stock purchase plan (in shares)			287,086	0
Issuance of common stock under employee stock purchase plan			$ 4
Shares exercised (in shares)			4,790,307
Class A and Class B Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issuance of common stock under employee stock purchase plan (in shares)			287,086
Restricted stock issued (in shares)	2,393,234	1,325,137	4,791,017	1,450,869
Shares exercised (in shares)	1,999,541	1,659,609	4,790,307	4,410,300
Issuance of common stock in connection with business combinations (in shares)			65,962	37,179
Common Class A
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved for issuance (in shares)	67,430,636		67,430,636
RSU
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average fair value per share of options granted (in dollars per share)	$ 20.95	$ 15.88		$ 18.59
Expected period for recognition (in years)			3 years 1 month 20 days
Fair value of RSUs vested	$ 45	$ 26	$ 93	$ 29
Total unrecognized stock-based compensation expense related to RSUs	$ 561		$ 561
Shares exercised (in shares)			452,180		1,365,310
RSU | Class A and Class B Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock issued (in shares)			1,817,462		2,703,538
RSU | Common Class A
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issuance of common stock in connection with business combinations (in shares)			1,365,282		1,338,228
Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average fair value per share of options granted (in dollars per share)			$ 15.65
Share based compensation arrangement by share based payment award, discount from market price (as percent)			85%
Employee Stock Purchase Plan | Common Class A
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved for issuance (in shares)	21,653,080		21,653,080

Stock-Based Compensation - Sc_2

Stock-Based Compensation - Schedule of Weighted Average Assumptions (Details) - $ / shares	3 Months Ended	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2023	Jun. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average fair value per share of options granted (in dollars per share)	$ 13.16
Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate		3.90%	2.16%
Expected term (in years)		6 years 29 days	6 years 21 days
Expected volatility		56.19%	51.41%
Expected dividend yield		0%	0%
Weighted-average fair value of common stock (in dollars per share)	$ 18.01	$ 18.01	$ 17.76
Weighted average fair value per share of options granted (in dollars per share)		$ 10.24	$ 9.02

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2023	Dec. 31, 2022
Number of Shares
Beginning balance (in shares)		53,728,512
Granted (in shares)	0	3,147,911
Exercised (in shares)		(4,790,307)
Forfeited (in shares)		(433,118)
Ending balance (in shares)	51,652,998	51,652,998	53,728,512
Options vested and expected to vest (in shares)	49,280,264	49,280,264
Options exercisable (in shares)	44,051,781	44,051,781
Weighted Average Exercise Price
Beginning balance (in dollars per share)		$ 5.98
Granted (in dollars per share)		18.01
Exercised (in dollars per share)		2.33
Forfeited (in dollars per share)		11
Ending balance (in dollars per share)	$ 7.01	7.01	$ 5.98
Options vested and expected to vest, Weighted average exercise price (in dollars per share)	6.72	6.72
Options exercisable, Weighted average exercise price per share (in dollars per share)	$ 5.11	$ 5.11
Weighted Average Remaining Contractual Term (Years)
Options outstanding (in years)		6 years 9 months 7 days	6 years 11 months 8 days
Options vested and expected to vest		6 years 8 months 4 days
Options exercisable (in years)		6 years 4 months 2 days
Aggregate Intrinsic Value
Options outstanding	$ 806	$ 806	$ 655
Options vested and expected to vest	783	783
Options exercisable	$ 767	$ 767

Stock-Based Compensation - Su_2

Stock-Based Compensation - Summary of RSU Activity (Details) - RSU	6 Months Ended
	Jun. 30, 2023 $ / shares shares
RSU
Beginning balance (in shares) | shares	31,242,263
Granted (in shares) | shares	12,483,091
Vested (in shares) | shares	(4,806,043)
Forfeited (in shares) | shares	(1,452,993)
Ending balance (in shares) | shares	37,466,318
Weighted Average Grant Date Fair Value
Beginning balance (in dollars per share) | $ / shares	$ 22.11
Granted (in dollars per share) | $ / shares	18.43
Vested (in dollars per share) | $ / shares	21.93
Forfeited (in dollars per share) | $ / shares	22.09
Ending balance (in dollars per share) | $ / shares	$ 20.90

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Effective income tax rate (as a percent)	(0.80%)	(0.50%)	(0.50%)	(0.70%)
Provision for income taxes	$ 1	$ 0	$ 1	$ 0
Non-recurring income tax benefit			$ 1

Net Loss Per Share Attributab_3

Net Loss Per Share Attributable to Common Stockholders - Schedule of Net Loss Per Share (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Numerator:
Net loss, basic	$ (98)	$ (54)	$ (179)	$ (77)
Gain on change in fair value of warrant liability	0	0	0	123
Net loss, diluted	$ (98)	$ (54)	$ (179)	$ (200)
Denominator:
Weighted average shares of common stock outstanding - basic (in shares)	529,226,266	509,532,418	526,677,000	507,420,257
Effect of dilutive securities:
Warrants to purchase Class B common stock (in shares)	0	0	0	756,238
Weighted average shares of common stock outstanding - diluted (in shares)	529,226,266	509,532,418	526,677,000	508,176,495
Net loss per share, basic (in dollars per share)	$ (0.19)	$ (0.11)	$ (0.34)	$ (0.15)
Net loss per share, diluted (in dollars per share)	$ (0.19)	$ (0.11)	$ (0.34)	$ (0.39)

Net Loss Per Share Attributab_4

Net Loss Per Share Attributable to Common Stockholders - Schedule of Antidilutive Shares (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive shares excluded from computation of earnings per share (in shares)	98,016,077	92,413,260	98,016,077	85,510,627
Options to purchase Class A common stock and Class B common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive shares excluded from computation of earnings per share (in shares)	51,652,998	56,687,498	51,652,998	56,687,498
Unvested restricted stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive shares excluded from computation of earnings per share (in shares)	1,817,462	2,624,790	1,817,462	2,624,790
Unvested restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive shares excluded from computation of earnings per share (in shares)	37,466,318	26,198,339	37,466,318	26,198,339
Common Stock Warrant Liability
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive shares excluded from computation of earnings per share (in shares)	6,790,080	6,902,633	6,790,080	0
Employee Stock Purchase Plan
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive shares excluded from computation of earnings per share (in shares)	289,219	0	289,219	0

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Total long-lived assets	$ 86	$ 138
United States
Segment Reporting Information [Line Items]
Total long-lived assets	71	122
Ireland
Segment Reporting Information [Line Items]
Total long-lived assets	9	10
India
Segment Reporting Information [Line Items]
Total long-lived assets	5	5
Other
Segment Reporting Information [Line Items]
Total long-lived assets	$ 1	$ 1