Tenable (TENB) 10-Q 2 Aug 21 2021 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2021	Jul. 26, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2021
Document Transition Report	false
Entity File Number	001-38600
Entity Registrant Name	TENABLE HOLDINGS, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	47-5580846
Entity Address, Address Line One	6100 Merriweather Drive
Entity Address, City or Town	Columbia
Entity Address, State or Province	MD
Entity Address, Postal Zip Code	21044
City Area Code	410
Local Phone Number	872-0555
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	TENB
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		106,578,737
Entity Central Index Key	0001660280
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Amendment Flag	false

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 135,927	$ 178,223
Short-term investments	125,111	113,623
Accounts receivable (net of allowance for doubtful accounts of $240 and $261 at June 30, 2021 and December 31, 2020, respectively)	100,483	115,342
Deferred commissions	32,686	32,143
Prepaid expenses and other current assets	42,255	44,462
Total current assets	436,462	483,793
Property and equipment, net	37,407	38,920
Deferred commissions (net of current portion)	45,811	46,733
Operating lease right-of-use assets	37,299	39,426
Acquired intangible assets, net	42,610	13,193
Goodwill	126,705	54,414
Other assets	18,473	14,110
Total assets	744,767	690,589
Current liabilities:
Accounts payable and accrued expenses	11,992	5,731
Accrued compensation	35,901	35,509
Deferred revenue	334,106	328,819
Operating lease liabilities	5,355	3,815
Other current liabilities	274	1,028
Total current liabilities	387,628	374,902
Deferred revenue (net of current portion)	110,768	105,691
Operating lease liabilities (net of current portion)	52,028	54,529
Other liabilities	8,888	4,802
Total liabilities	559,312	539,924
Stockholders’ equity:
Common stock (par value: $0.01; 500,000 shares authorized; 106,510 and 103,715 shares issued and outstanding at June 30, 2021 and December 31, 2020, respectively)	1,065	1,037
Additional paid-in capital	811,644	757,470
Accumulated other comprehensive (loss) income	(16)	10
Accumulated deficit	(627,238)	(607,852)
Total stockholders’ equity	185,455	150,665
Total liabilities and stockholders’ equity	$ 744,767	$ 690,589

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Accounts receivable, allowance for doubtful accounts	$ 240	$ 261
Common stock, par value (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	500,000	500,000
Common stock, shares issued (in shares)	106,510	103,715
Common stock, shares outstanding (in shares)	106,510	103,715

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Income Statement [Abstract]
Revenue	$ 130,259	$ 107,209	$ 253,448	$ 209,857
Cost of revenue	26,425	19,142	48,498	37,843
Gross profit	103,834	88,067	204,950	172,014
Operating expenses:
Sales and marketing	65,678	55,443	124,313	115,298
Research and development	28,201	25,310	55,039	52,141
General and administrative	21,836	17,879	43,281	36,812
Total operating expenses	115,715	98,632	222,633	204,251
Loss from operations	(11,881)	(10,565)	(17,683)	(32,237)
Interest (expense) income, net	(42)	455	(70)	1,189
Other expense, net	(471)	(298)	(537)	(1,258)
Loss before income taxes	(12,394)	(10,408)	(18,290)	(32,306)
(Benefit) provision for income taxes	(756)	1,552	1,096	2,631
Net loss	$ (11,638)	$ (11,960)	$ (19,386)	$ (34,937)
Net loss per share, basic (in usd per share)	$ (0.11)	$ (0.12)	$ (0.18)	$ (0.35)
Net loss per share, diluted (in usd per share)	$ (0.11)	$ (0.12)	$ (0.18)	$ (0.35)
Weighted-average shares used to compute net loss per share, basic (in shares)	105,869	100,209	105,203	99,532
Weighted-average shares used to compute net loss per share, diluted (in shares)	105,869	100,209	105,203	99,532

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Statement of Comprehensive Income [Abstract]
Net loss	$ (11,638)	$ (11,960)	$ (19,386)	$ (34,937)
Other comprehensive (loss) income, net of tax:
Unrealized (losses) gains on available-for-sale securities	(24)	(14)	(26)	99
Other comprehensive (loss) income	(24)	(14)	(26)	99
Comprehensive loss	$ (11,662)	$ (11,974)	$ (19,412)	$ (34,838)

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit
Balance (in shares) at Dec. 31, 2019		98,587
Balance at Dec. 31, 2019	$ 98,905	$ 986	$ 662,990	$ 50	$ (565,121)
Increase (Decrease) in Stockholders' Deficit [Roll Forward]
Exercise of stock options (in shares)		1,594
Exercise of stock options	10,974	$ 16	10,958
Vesting of restricted stock units (in shares)		568
Vesting of restricted stock units	0	$ 5	(5)
Issuance of common stock under employee stock purchase plan (in shares)		378
Issuance of common stock under employee stock purchase plan	7,307	$ 4	7,303
Stock-based compensation	28,820		28,820
Other comprehensive income (loss)	99			99
Net loss	(34,937)				(34,937)
Balance (in shares) at Jun. 30, 2020		101,127
Balance at Jun. 30, 2020	111,168	$ 1,011	710,066	149	(600,058)
Balance (in shares) at Mar. 31, 2020		100,003
Balance at Mar. 31, 2020	100,376	$ 1,000	687,311	163	(588,098)
Increase (Decrease) in Stockholders' Deficit [Roll Forward]
Exercise of stock options (in shares)		959
Exercise of stock options	6,996	$ 10	6,986
Vesting of restricted stock units (in shares)		165
Vesting of restricted stock units	0	$ 1	(1)
Stock-based compensation	15,770		15,770
Other comprehensive income (loss)	(14)			(14)
Net loss	(11,960)				(11,960)
Balance (in shares) at Jun. 30, 2020		101,127
Balance at Jun. 30, 2020	$ 111,168	$ 1,011	710,066	149	(600,058)
Balance (in shares) at Dec. 31, 2020	103,715	103,715
Balance at Dec. 31, 2020	$ 150,665	$ 1,037	757,470	10	(607,852)
Increase (Decrease) in Stockholders' Deficit [Roll Forward]
Exercise of stock options (in shares)	1,212	1,212
Exercise of stock options	$ 8,704	$ 12	8,692
Vesting of restricted stock units (in shares)		1,184
Vesting of restricted stock units	0	$ 12	(12)
Issuance of common stock under employee stock purchase plan (in shares)		399
Issuance of common stock under employee stock purchase plan	8,046	$ 4	8,042
Stock-based compensation	37,452		37,452
Other comprehensive income (loss)	(26)			(26)
Net loss	$ (19,386)				(19,386)
Balance (in shares) at Jun. 30, 2021	106,510	106,510
Balance at Jun. 30, 2021	$ 185,455	$ 1,065	811,644	(16)	(627,238)
Balance (in shares) at Mar. 31, 2021		105,513
Balance at Mar. 31, 2021	171,939	$ 1,055	786,476	8	(615,600)
Increase (Decrease) in Stockholders' Deficit [Roll Forward]
Exercise of stock options (in shares)		605
Exercise of stock options	4,689	$ 6	4,683
Vesting of restricted stock units (in shares)		392
Vesting of restricted stock units	0	$ 4	(4)
Stock-based compensation	20,489		20,489
Other comprehensive income (loss)	(24)			(24)
Net loss	$ (11,638)				(11,638)
Balance (in shares) at Jun. 30, 2021	106,510	106,510
Balance at Jun. 30, 2021	$ 185,455	$ 1,065	$ 811,644	$ (16)	$ (627,238)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Cash flows from operating activities:
Net loss	$ (19,386)	$ (34,937)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	6,807	5,268
Stock-based compensation	37,421	28,701
Other	(268)	606
Changes in operating assets and liabilities:
Accounts receivable	18,985	13,512
Prepaid expenses and other assets	5,077	7,173
Accounts payable, accrued expenses and accrued compensation	985	(8,297)
Deferred revenue	6,665	2,182
Other current and noncurrent liabilities	(1,126)	7,283
Net cash provided by operating activities	55,160	21,491
Cash flows from investing activities:
Purchases of property and equipment	(2,595)	(11,004)
Purchases of short-term investments	(87,624)	(91,908)
Sales and maturities of short-term investments	76,000	124,675
Business combination, net of cash acquired	(98,489)	0
Net cash (used in) provided by investing activities	(112,708)	21,763
Cash flows from financing activities:
Proceeds from loan agreement	0	2,000
Proceeds from stock issued in connection with the employee stock purchase plan	8,046	7,307
Proceeds from the exercise of stock options	8,704	10,974
Other financing activities	(5)	(8)
Net cash provided by financing activities	16,745	20,273
Effect of exchange rate changes on cash and cash equivalents and restricted cash	(1,463)	(1,463)
Net (decrease) increase in cash and cash equivalents and restricted cash	(42,266)	62,064
Cash and cash equivalents and restricted cash at beginning of period	178,463	74,665
Cash and cash equivalents and restricted cash at end of period	136,197	136,729
Supplemental disclosure of cash flow information:
Cash paid for interest	150	16
Cash paid for income taxes, net of refunds	3,553	2,728
Supplemental cash flow information related to leases:
Cash payments for operating leases	$ 2,555	$ 2,595

Business and Summary of Signifi

Business and Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business and Summary of Significant Accounting Policies	Business and Summary of Significant Accounting Policies Business Description Tenable Holdings, Inc. (the “Company,” “we,” "us," or “our”) is a provider of Cyber Exposure solutions, which is a discipline for managing, measuring and comparing cybersecurity risk in the digital era. Our platform offerings provide broad visibility into security issues such as vulnerabilities, misconfigurations, internal and regulatory compliance violations and other indicators of the state of an organization’s security across IT infrastructure and applications, cloud environments and industrial internet of things and operational technology environments. Basis of Presentation The accompanying consolidated financial statements include the accounts of Tenable Holdings, Inc. and our wholly owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. The consolidated financial statements have been prepared in conformity with United States generally accepted accounting principles (“GAAP”) for interim financial information. The consolidated statements are unaudited and should be read in conjunction with the consolidated financial statements and related notes included in our 2020 Annual Report on Form 10-K ("10-K") filed with the Securities and Exchange Commission on February 23, 2021. The consolidated financial statements have been prepared on a basis consistent with the audited annual consolidated financial statements included in the 10-K and, in the opinion of management, include all adjustments of a normal recurring nature necessary to fairly state our financial position, our results of operations, and cash flows. The results for the six months ended June 30, 2021 are not necessarily indicative of the operating results expected for the year ending December 31, 2021 or any other future period. Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. These estimates include, but are not limited to, the determination of the estimated economic life of perpetual licenses for revenue recognition, the estimated period of benefit for deferred commissions, the useful lives of long-lived assets, the fair value of acquired intangible assets and deferred revenue, the valuation of stock-based compensation, including the estimated underlying fair value of our common stock prior to our IPO, the incremental borrowing rate for operating leases, and the valuation of deferred tax assets. We base these estimates on historical experience and on various other assumptions that we believe to be reasonable. Actual results could differ significantly from these estimates. Significant Accounting Policies Our significant accounting policies are described in our 10-K. During the six months ended June 30, 2021, there were no material changes to our significant accounting policies other than those described below. Revenue Recognition Subscription Revenue Subscription arrangements generally have annual or multi-year contractual terms and allow customers to use our software or cloud solutions. For our software subscriptions that are dependent on ongoing software updates and the ability to identify the latest cybersecurity vulnerabilities, revenue is recognized ratably over the subscription term given the critical utility provided by the ongoing updates that are released through the contract period. For our software where the critical utility does not depend on ongoing updates, we separate the software license from the maintenance and support. We recognize revenue attributable to the license at the time of delivery and the revenue attributable to the maintenance and support ratably over the contract period. Investments We classify investments with original maturities of less than 90 days as cash and cash equivalents. Investments with original maturities greater than 90 days, including those we do not currently intend on selling within the next twelve months, are classified as short-term investments as they are available for use in our operations. Recently Adopted Accounting Pronouncements We adopted Accounting Standards Update ("ASU") No. 2019-12 - Income Taxes (Topic 740) : Simplifying the Accounting for Income Taxes, effective January 1, 2021. The adoption of this guidance did not have a material impact on our condensed consolidated financial statements. This ASU eliminated previously allowed exceptions and clarified existing guidance in the accounting for income taxes, including in the areas of franchise taxes, the tax basis of goodwill and interim period effects of changes in tax laws.

Revenue

Revenue	6 Months Ended
	Jun. 30, 2021
Revenue from Contract with Customer [Abstract]
Revenue	Revenue Disaggregation of Revenue The following table presents a summary of revenue: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2021 2020 2021 2020 Subscription revenue $ 114,167 $ 92,010 $ 221,569 $ 178,400 Perpetual license and maintenance revenue 12,567 12,179 24,972 25,598 Professional services and other revenue 3,525 3,020 6,907 5,859 Revenue $ 130,259 $ 107,209 $ 253,448 $ 209,857 Concentrations We sell and market our products and services through our field sales force that works closely with our channel partners, which includes a network of distributors and resellers, in developing sales opportunities. We use a two-tiered channel model whereby we sell our products and services to our distributors, which in turn sell to resellers, which then sell to end-users. We derived 92% of revenue through our channel network in the three and six months ended June 30, 2021 and 91% of revenue in the three and six months ended June 30, 2020. One of our distributors accounted for 40% of revenue in the three and six months ended June 30, 2021 and 43% of revenue in the three and six months ended June 30, 2020. That same distributor accounted for 37% and 41% of accounts receivable at June 30, 2021 and December 31, 2020, respectively. Contract Balances We generally bill our customers in advance and accounts receivable are recorded when we have the right to invoice the customer. Contract liabilities consist of deferred revenue and include customer billings and payments received in advance of performance under the contract. In the three months ended June 30, 2021 and 2020 and the six months ended June 30, 2021 and 2020, we recognized revenue of $119.0 million, $99.5 million, $210.5 million and $175.0 million, respectively, that was included in the deferred revenue balance at the beginning of each of the respective periods. Remaining Performance Obligations At June 30, 2021, the future estimated revenue related to unsatisfied performance obligations was $461.6 million, of which approximately 75% is expected to be recognized as revenue over the succeeding twelve months, and the remainder is expected to be recognized over the four years thereafter. Deferred Commissions The following summarizes the activity of deferred incremental costs of obtaining a contract:

Cash Equivalents and Short-Term

Cash Equivalents and Short-Term Investments	6 Months Ended
	Jun. 30, 2021
Cash and Cash Equivalents [Abstract]
Cash Equivalents and Short-Term Investments	Cash Equivalents and Short-Term Investments The following tables summarize the amortized cost, unrealized gain and loss and estimated fair value of cash equivalents and short-term investments: June 30, 2021 (in thousands) Amortized Cost Unrealized Gain Unrealized Loss Estimated Fair Value Cash equivalents Money market funds $ 47,682 $ — $ — $ 47,682 Total cash equivalents $ 47,682 $ — $ — $ 47,682 Short-term investments Commercial paper $ 79,725 $ — $ — $ 79,725 Corporate bonds 12,682 1 (1) 12,682 Supranational bonds 13,198 — (11) 13,187 U.S. Treasury and agency obligations 19,522 2 (7) 19,517 Total short-term investments $ 125,127 $ 3 $ (19) $ 125,111 December 31, 2020 (in thousands) Amortized Cost Unrealized Gain Unrealized Loss Estimated Fair Value Cash equivalents Money market funds $ 44,153 $ — $ — $ 44,153 Commercial paper 4,500 — — 4,500 Total cash equivalents $ 48,653 $ — $ — $ 48,653 Short-term investments Commercial paper $ 71,425 $ — $ — $ 71,425 Corporate bonds 4,502 3 — 4,505 U.S. Treasury and agency obligations 37,686 7 — 37,693 Total short-term investments $ 113,613 $ 10 $ — $ 113,623 The contractual maturities of our short-term investments are as follows: June 30, 2021 (in thousands) Amortized Cost Estimated Fair Value Due within one year $ 102,583 $ 102,584 Due between one and two years 22,544 22,527 Total short-term investments $ 125,127 $ 125,111 At June 30, 2021, cash and cash equivalents included $5.8 million of restricted cash primarily related to collateral for our outstanding letters of credit. At December 31, 2020, cash and cash equivalents included $0.4 million of restricted cash related to collateral for a lease and credit card deposits. At June 30, 2021 and December 31, 2020, cash and cash equivalents excluded $0.3 million and $0.2 million, respectively, of restricted cash related to an account established as collateral for a lease arrangement, which is included in other assets on the consolidated balance sheets.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements We measure certain financial instruments at fair value using a fair value hierarchy. In the hierarchy, assets are classified based on the lowest level inputs used in valuation into the following categories: • Level 1 — Quoted prices in active markets for identical assets and liabilities; • Level 2 — Observable inputs including quoted market prices for similar assets and liabilities in active markets, quoted prices for identical assets and liabilities in inactive markets, or inputs that are corroborated by observable market data; and • Level 3 — Unobservable inputs. The following tables summarize assets that are measured at fair value on a recurring basis: June 30, 2021 (in thousands) Level 1 Level 2 Level 3 Total Cash equivalents Money market funds $ 47,682 $ — $ — $ 47,682 Total cash equivalents $ 47,682 $ — $ — $ 47,682 Short-term investments Commercial paper $ — $ 79,725 $ — $ 79,725 Corporate bonds — 12,682 — 12,682 Supranational bonds — 13,187 — 13,187 U.S. Treasury and agency obligations — 19,517 — 19,517 Total short-term investments $ — $ 125,111 $ — $ 125,111 December 31, 2020 (in thousands) Level 1 Level 2 Level 3 Total Cash equivalents Money market funds $ 44,153 $ — $ — $ 44,153 Commercial paper — 4,500 — 4,500 Total cash equivalents $ 44,153 $ 4,500 $ — $ 48,653 Short-term investments Commercial paper $ — $ 71,425 $ — $ 71,425 Corporate bonds — 4,505 — 4,505 U.S. Treasury and agency obligations — 37,693 — 37,693 Total short-term investments $ — $ 113,623 $ — $ 113,623 We did not have any liabilities measured and recorded at fair value at June 30, 2021 or December 31, 2020.

Property and Equipment, Net

Property and Equipment, Net	6 Months Ended
	Jun. 30, 2021
Property, Plant and Equipment [Abstract]
Property and Equipment, Net	Property and Equipment, Net Property and equipment, net consisted of the following: (in thousands) June 30, 2021 December 31, 2020 Computer software and equipment $ 24,677 $ 22,930 Furniture and fixtures 6,033 6,011 Leasehold improvements 27,229 26,210 Right-of-use assets under finance leases 1,344 1,571 Total 59,283 56,722 Less: accumulated depreciation and amortization (21,876) (17,802) Property and equipment, net $ 37,407 $ 38,920 Depreciation and amortization related to property and equipment was $2.5 million, $2.0 million, $4.7 million and $4.0 million in the three months ended June 30, 2021 and 2020 and the six months ended June 30, 2021 and 2020, respectively.

Acquisition, Goodwill and Acqui

Acquisition, Goodwill and Acquired Intangible Assets	6 Months Ended
	Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Acquisition, Goodwill and Acquired Intangible Assets	Acquisition, Goodwill and Acquired Intangible Assets Business Combination In April 2021, we acquired Alsid SAS ("Alsid"), which expanded our product offerings to include active directory security. Active directory is the basis for managing user permissions across on-premises and hybrid cloud deployments and is foundational to the security of cloud workloads, security remote work, and adopting zero trust architectures. Through a share purchase agreement, we acquired 100% of Alsid's equity in exchange for cash consideration of $98.5 million, net of cash acquired of $3.3 million. When determining the fair value of assets acquired and liabilities assumed, a non-recurring level 3 fair value measurement, we make estimates and assumptions, especially with respect to intangible assets such as our identified acquired technology and trade name intangible assets. We determined the fair value of our acquired technology using the multi-period excess earnings method, a form of the income approach. Estimates in valuing identifiable intangible assets include, but are not limited to, projected revenue growth rates, future expected operating expenses, obsolescence projections and an appropriate discount rate. Our estimate of fair value is based upon assumptions we believe to be reasonable, but which are inherently uncertain and, as a result, actual results may differ from estimates. During the measurement period, we may make adjustments to the fair value of assets acquired and liabilities assumed, with offsetting adjustments to goodwill. Any adjustments made after the measurement period will be reflected in the consolidated statements of operations. We are still finalizing the allocation of the purchase price, which may change as additional information becomes available related to acquired intangible assets, deferred revenue, income taxes and any working capital adjustments. The cash consideration, net of cash acquired, was preliminarily allocated as follows: (in thousands) Accounts receivable $ 4,105 Prepaid expenses and other assets 2,304 Intangible assets 31,400 Goodwill 72,291 Accounts payable, accrued expenses and accrued compensation (3,794) Deferred revenue (3,699) Deferred tax liabilities, net (4,118) Total purchase price allocation $ 98,489 Acquired intangible assets and their estimated useful lives at the date of acquisition are as follows: Intangible Assets (dollars in thousands) Cost Estimated Useful Life Acquired technology $ 31,300 7 years Trade name 100 1 year Acquired intangible assets $ 31,400 The results of operations of Alsid are included in our consolidated statements of operations from the acquisition date and were not material. Pro forma results of operations are not presented as they are not material to the consolidated statements of operations. In general and administrative expense, we recognized $1.5 million and $3.7 million in acquisition-related transaction costs in the three and six months ended June 30, 2021, respectively. Goodwill and Acquired Intangible Assets The changes in the carrying amount of goodwill are as follows: (in thousands) Balance at December 31, 2020 $ 54,414 Acquired goodwill 72,291 Balance at June 30, 2021 $ 126,705 The excess purchase consideration over the fair value of acquired assets and liabilities is recorded as goodwill. The acquired goodwill reflects the synergies we expect from marketing and selling new capabilities from Alsid to our customers. None of the acquired goodwill is tax deductible. Acquired intangible assets subject to amortization are as follows: June 30, 2021 December 31, 2020 (in thousands) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Acquired technology $ 48,625 $ (6,138) $ 42,487 $ 17,325 $ (4,224) $ 13,101 Trade name 300 (177) 123 200 (108) 92 $ 48,925 $ (6,315) $ 42,610 $ 17,525 $ (4,332) $ 13,193 Amortization of acquired intangible assets was $1.4 million, $0.6 million, $2.0 million and $1.2 million in the three months ended June 30, 2021 and 2020 and the six months ended June 30, 2021 and 2020, respectively. At June 30, 2021, our acquired intangible assets are expected to be amortized over an estimated weighted average period of 6.4 years. At June 30, 2021, estimated future amortization of acquired intangible assets is as follows: (in thousands) Year ending December 31, 2021 (1) $ 3,435 2022 6,718 2023 6,686 2024 6,686 2025 6,686 Thereafter 12,399 Total $ 42,610 _______________ (1) Represents the six months ending December 31, 2021.

Leases

Leases	6 Months Ended
	Jun. 30, 2021
Leases [Abstract]
Leases	Leases We have operating leases for office facilities and finance leases for office equipment. The components of lease expense were as follows: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2021 2020 2021 2020 Operating lease cost $ 1,907 $ 2,327 $ 3,776 $ 4,811 Finance lease cost Amortization of ROU assets $ 2 $ 76 $ 4 $ 186 Interest on lease liabilities 2 1 3 3 Total finance lease cost $ 4 $ 77 $ 7 $ 189 Rent expense for short-term leases in the three and six months ended June 30, 2021 and 2020 was not material. Supplemental information related to leases was as follows: June 30, 2021 December 31, 2020 Operating leases Weighted average remaining lease term 9.9 years 10.0 years Weighted average discount rate 5.6% 5.6% In the three and six months ended June 30, 2021, we did not obtain any right of use assets in exchange for lease liabilities. During the three and six months ended June 30, 2020, we obtained $0.7 million of right of use assets related to operating lease liabilities. Maturities of operating lease liabilities at June 30, 2021 were as follows: (in thousands) Year ending December 31, 2021 (1) $ 1,419 2022 8,017 2023 7,689 2024 7,843 2025 7,405 Thereafter 44,499 Total lease payments 76,872 Less: Imputed interest (19,489) Total $ 57,383 _______________ (1) Represents the six months ending December 31, 2021.
Leases	Leases We have operating leases for office facilities and finance leases for office equipment. The components of lease expense were as follows: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2021 2020 2021 2020 Operating lease cost $ 1,907 $ 2,327 $ 3,776 $ 4,811 Finance lease cost Amortization of ROU assets $ 2 $ 76 $ 4 $ 186 Interest on lease liabilities 2 1 3 3 Total finance lease cost $ 4 $ 77 $ 7 $ 189 Rent expense for short-term leases in the three and six months ended June 30, 2021 and 2020 was not material. Supplemental information related to leases was as follows: June 30, 2021 December 31, 2020 Operating leases Weighted average remaining lease term 9.9 years 10.0 years Weighted average discount rate 5.6% 5.6% In the three and six months ended June 30, 2021, we did not obtain any right of use assets in exchange for lease liabilities. During the three and six months ended June 30, 2020, we obtained $0.7 million of right of use assets related to operating lease liabilities. Maturities of operating lease liabilities at June 30, 2021 were as follows: (in thousands) Year ending December 31, 2021 (1) $ 1,419 2022 8,017 2023 7,689 2024 7,843 2025 7,405 Thereafter 44,499 Total lease payments 76,872 Less: Imputed interest (19,489) Total $ 57,383 _______________ (1) Represents the six months ending December 31, 2021.

Debt

Debt	6 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
Debt	Debt In July 2020, we entered into a $45.0 million senior secured credit facility (“2020 Credit Facility”) with Silicon Valley Bank in connection with the expiration of our $25.0 million revolving credit facility. The 2020 Credit Facility bears interest at either LIBOR plus 2%, with a 1% LIBOR floor, or the base rate plus 1%, and terminates on July 24, 2022. A commitment fee of 0.35% per annum is payable quarterly in arrears based on the unused portion. The obligations under the 2020 Credit Facility are secured by a lien on our tangible and intangible property except intellectual property and certain subsidiaries and by a pledge of all of the equity interests of our material direct and indirect domestic subsidiaries and 65% of each class of capital stock of any material first-tier foreign subsidiaries, subject to limited exceptions. The 2020 Credit Facility includes a $45.0 million uncommitted expansion, as well as a $10.0 million sublimit for the issuance of letters of credit and a swingline sub-facility of up to $10.0 million, and has a financial covenant requiring a minimum consolidated quick ratio of at least 1.5:1.0 on the last day of each quarter. During the six months ended June 30, 2021, there were no amounts outstanding under our 2020 Credit Facility. At June 30, 2021, we were in compliance with the financial covenant and our borrowing capacity was reduced by $5.5 million related to standby letters of credit. In July 2021, the 2020 Credit Facility was terminated. See Note 13 for additional information.

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2021
Share-based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation At June 30, 2021, there were 20,239,030 shares available for grant under our 2018 Equity Incentive Plan. Stock-based compensation expense included in the consolidated statements of operations was as follows: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2021 2020 2021 2020 Cost of revenue $ 1,202 $ 830 $ 2,139 $ 1,577 Sales and marketing 7,577 5,375 13,873 9,871 Research and development 5,176 3,893 9,332 6,841 General and administrative 6,514 5,568 12,077 10,412 Total stock-based compensation expense $ 20,469 $ 15,666 $ 37,421 $ 28,701 At June 30, 2021, the unrecognized stock-based compensation expense related to unvested restricted stock units ("RSUs") was $196.9 million, which is expected to be recognized over an estimated remaining weighted average period of 3.1 years. At June 30, 2021, the unrecognized stock-based compensation expense related to outstanding stock options was $6.0 million, which is expected to be recognized over an estimated remaining weighted average period of 0.9 years. Restricted Stock and RSUs A summary of our restricted stock and RSU activity is presented below: Restricted Stock RSUs (in thousands, except for per share data) Number Weighted Number Weighted Unvested balance at December 31, 2020 99 $ 4.25 4,490 $ 28.13 Granted — — 3,099 42.18 Vested (99) 4.25 (1,184) 27.95 Forfeited — — (353) 31.26 Unvested balance at June 30, 2021 — — 6,052 35.18 Stock Options A summary of our stock option activity is presented below: (in thousands, except for exercise prices and years) Number Weighted Weighted-Average Remaining Contractual Term (in years) Aggregate Intrinsic Value Outstanding at December 31, 2020 9,441 $ 8.56 6.4 $ 412,547 Granted — — Exercised (1,212) 7.18 44,483 Forfeited/canceled (28) 14.29 Outstanding at June 30, 2021 8,201 8.75 6.0 267,365 Exercisable at June 30, 2021 6,584 7.24 5.8 224,561 At June 30, 2021, there were 8.2 million stock options that were vested and expected to vest. 2018 Employee Stock Purchase Plan At June 30, 2021, there were 6,587,717 shares reserved for issuance under our 2018 Employee Stock Purchase Plan ("2018 ESPP"). In the six months ended June 30, 2021, employees purchased 399,187 shares of our common stock at a weighted average price of $20.16 per share, resulting in $8.0 million of cash proceeds. At June 30, 2021, there was $4.4 million of employee contributions to the 2018 ESPP included in accrued compensation. At June 30, 2021, the unrecognized stock-based compensation expense related to our 2018 ESPP was $2.6 million, which is expected to be recognized over an estimated weighted average period of 0.7 years. The fair value of the 2018 ESPP purchase rights was estimated on the offering or modification dates using a Black-Scholes option-pricing model and the following assumptions: Six Months Ended June 30, 2021 2020 Expected term (in years) 0.5 — 2.0 0.5 — 2.0 Expected volatility 52.0% — 59.4% 41.6% — 47.9% Risk-free interest rate 0.1% 0.8% — 0.9% Expected dividend yield — — As we now have sufficient history as a public company, in 2021 we began using the volatility of our common stock to calculate expected volatility. Previously, we used the volatility of the common stock of similar peer companies.

Net Loss Per Share

Net Loss Per Share	6 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
Net Loss Per Share	Net Loss Per Share The following table sets forth the computation of basic and diluted net loss per share: Three Months Ended June 30, Six Months Ended June 30, (in thousands, except per share data) 2021 2020 2021 2020 Net loss $ (11,638) $ (11,960) $ (19,386) $ (34,937) Weighted-average shares used to compute net loss per share, basic and diluted 105,869 100,209 105,203 99,532 Net loss per share, basic and diluted $ (0.11) $ (0.12) $ (0.18) $ (0.35) The following potentially dilutive securities have been excluded from the diluted per share calculations because they would have been antidilutive: June 30, (in thousands) 2021 2020 Stock options 8,201 11,058 RSUs 6,052 5,436 Shares to be issued under the 2018 ESPP 217 255 Restricted stock — 297 Total 14,470 17,046

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes In the three months ended June 30, 2021, the income tax benefit included a $1.1 million deferred tax benefit related to the Alsid acquisition, which was partially offset by income taxes in certain foreign jurisdictions in which we conduct business and the related withholding taxes on sales with customers. Additionally, in the six months ended June 30, 2021, the provision for income taxes was impacted by discrete items, including $2.8 million of current expense from the restructuring of our research and development operations in Israel, partially offset by $2.6 million of discrete benefits, primarily related to a Supreme Court decision in India on the taxability of software license payments to nonresidents and the associated withholding taxes.

Geographic Information

Geographic Information	6 Months Ended
	Jun. 30, 2021
Segment Reporting [Abstract]
Geographic Information	Geographic InformationWe operate as one operating segment. Our Chief Executive Officer, who is our chief operating decision maker, reviews financial information on a consolidated basis for purposes of making operating decisions, allocating resources, and evaluating financial performance. Revenue by region, based on the address of the end user as specified in our subscription, license or service agreements, was as follows: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2021 2020 2021 2020 The Americas $ 84,462 $ 71,946 $ 165,057 $ 141,260 Europe, Middle East and Africa 31,947 24,642 61,213 48,192 Asia Pacific 13,850 10,621 27,178 20,405 Revenue $ 130,259 $ 107,209 $ 253,448 $ 209,857 Customers located in the United States accounted for 59%, 61%, 59% and 62% of revenue in the three months ended June 30, 2021 and 2020 and the six months ended June 30, 2021 and 2020, respectively. No other country accounted for 10% or more of revenue in the periods presented. Our property and equipment, net by geographic area is summarized as follows: (in thousands) June 30, 2021 December 31, 2020 United States $ 34,249 $ 35,406 International 3,158 3,514 Property and equipment, net $ 37,407 $ 38,920

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2021
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Term Loan In July 2021, we entered into a credit agreement ("Credit Agreement") which is comprised of a $375.0 million senior secured term loan facility ("Term Loan") and a $50.0 million senior secured revolving credit facility ("Revolving Credit Facility") with a $15.0 million letter of credit sublimit. The Term Loan bears interest at a rate of 2.75% per annum over LIBOR, subject to a 0.50% floor. The Term Loan will amortize at 1% per annum in equal quarterly installments, starting in March 2022 until the final maturity date on July 7, 2028. The Revolving Credit Facility bears interest at a rate, depending on first lien net leverage, ranging from 2.00% to 2.50% over LIBOR and matures on July 7, 2026. We will pay a commitment fee during the term of the Credit Agreement ranging from 0.25% to 0.375% per annum of the average daily undrawn portion of the revolving commitments based on the first lien net leverage ratio. The Credit Agreement contains customary representations and warranties and affirmative and negative covenants. Additionally, if at least 35% of the Revolving Credit Facility is drawn on the last day of the quarter, the total net leverage ratio cannot be greater than 5.50 to 1.00. Since the closing date, there have been no amounts outstanding under the Revolving Credit Facility. In connection with the Credit Agreement, we terminated the 2020 Credit Facility, which included the release of all related guarantees and liens. Commitments In July 2021, we entered into a contract with Amazon Web Services, Inc. for cloud services from August 2021 through July 2024. Under the terms of the contract, we committed to spend $43.7 million, $46.8 million and $50.1 million in contract years 1, 2 and 3, respectively, for a total spend of $140.6 million.

Business and Summary of Signi_2

Business and Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Consolidations	The accompanying consolidated financial statements include the accounts of Tenable Holdings, Inc. and our wholly owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation.
Basis of Accounting	The consolidated financial statements have been prepared in conformity with United States generally accepted accounting principles (“GAAP”) for interim financial information. The consolidated statements are unaudited and should be read in conjunction with the consolidated financial statements and related notes included in our 2020 Annual Report on Form 10-K ("10-K") filed with the Securities and Exchange Commission on February 23, 2021. The consolidated financial statements have been prepared on a basis consistent with the audited annual consolidated financial statements included in the 10-K and, in the opinion of management, include all adjustments of a normal recurring nature necessary to fairly state our financial position, our results of operations, and cash flows.
Use of Estimates	Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. These estimates include, but are not limited to, the determination of the estimated economic life of perpetual licenses for revenue recognition, the estimated period of benefit for deferred commissions, the useful lives of long-lived assets, the fair value of acquired intangible assets and deferred revenue, the valuation of stock-based compensation, including the estimated underlying fair value of our common stock prior to our IPO, the incremental borrowing rate for operating leases, and the valuation of deferred tax assets. We base these estimates on historical experience and on various other assumptions that we believe to be reasonable. Actual results could differ significantly from these estimates.
Revenue Recognition	Revenue Recognition Subscription Revenue Subscription arrangements generally have annual or multi-year contractual terms and allow customers to use our software or cloud solutions. For our software subscriptions that are dependent on ongoing software updates and the ability to identify the latest cybersecurity vulnerabilities, revenue is recognized ratably over the subscription term given the critical utility provided by the ongoing updates that are released through the contract period. For our software where the critical utility does not depend on ongoing updates, we separate the software license from the maintenance and support. We
Investments	InvestmentsWe classify investments with original maturities of less than 90 days as cash and cash equivalents. Investments with original maturities greater than 90 days, including those we do not currently intend on selling within the next twelve months, are classified as short-term investments as they are available for use in our operations.
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements We adopted Accounting Standards Update ("ASU") No. 2019-12 - Income Taxes (Topic 740) : Simplifying the Accounting for Income Taxes, effective January 1, 2021. The adoption of this guidance did not have a material impact on our condensed consolidated financial statements. This ASU eliminated previously allowed exceptions and clarified existing guidance in the accounting for income taxes, including in the areas of franchise taxes, the tax basis of goodwill and interim period effects of changes in tax laws.

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Jun. 30, 2021
Revenue from Contract with Customer [Abstract]
Summary of revenue	The following table presents a summary of revenue: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2021 2020 2021 2020 Subscription revenue $ 114,167 $ 92,010 $ 221,569 $ 178,400 Perpetual license and maintenance revenue 12,567 12,179 24,972 25,598 Professional services and other revenue 3,525 3,020 6,907 5,859 Revenue $ 130,259 $ 107,209 $ 253,448 $ 209,857
Activity of deferred contract costs	The following summarizes the activity of deferred incremental costs of obtaining a contract: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2021 2020 2021 2020 Beginning balance $ 77,300 $ 70,742 $ 78,876 $ 72,265 Capitalization of contract acquisition costs 10,222 8,892 17,446 15,013 Amortization of deferred contract acquisition costs (9,025) (7,866) (17,825) (15,510) Ending balance $ 78,497 $ 71,768 $ 78,497 $ 71,768

Cash Equivalents and Short-Te_2

Cash Equivalents and Short-Term Investments (Tables)	6 Months Ended
	Jun. 30, 2021
Cash and Cash Equivalents [Abstract]
Summary of amortized cost, unrealized gain and loss and estimated fair value	The following tables summarize the amortized cost, unrealized gain and loss and estimated fair value of cash equivalents and short-term investments: June 30, 2021 (in thousands) Amortized Cost Unrealized Gain Unrealized Loss Estimated Fair Value Cash equivalents Money market funds $ 47,682 $ — $ — $ 47,682 Total cash equivalents $ 47,682 $ — $ — $ 47,682 Short-term investments Commercial paper $ 79,725 $ — $ — $ 79,725 Corporate bonds 12,682 1 (1) 12,682 Supranational bonds 13,198 — (11) 13,187 U.S. Treasury and agency obligations 19,522 2 (7) 19,517 Total short-term investments $ 125,127 $ 3 $ (19) $ 125,111 December 31, 2020 (in thousands) Amortized Cost Unrealized Gain Unrealized Loss Estimated Fair Value Cash equivalents Money market funds $ 44,153 $ — $ — $ 44,153 Commercial paper 4,500 — — 4,500 Total cash equivalents $ 48,653 $ — $ — $ 48,653 Short-term investments Commercial paper $ 71,425 $ — $ — $ 71,425 Corporate bonds 4,502 3 — 4,505 U.S. Treasury and agency obligations 37,686 7 — 37,693 Total short-term investments $ 113,613 $ 10 $ — $ 113,623
Investments classified by contractual maturity date	The contractual maturities of our short-term investments are as follows: June 30, 2021 (in thousands) Amortized Cost Estimated Fair Value Due within one year $ 102,583 $ 102,584 Due between one and two years 22,544 22,527 Total short-term investments $ 125,127 $ 125,111

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2021
Fair Value Disclosures [Abstract]
Schedule of assets measured at fair value on recurring basis	The following tables summarize assets that are measured at fair value on a recurring basis: June 30, 2021 (in thousands) Level 1 Level 2 Level 3 Total Cash equivalents Money market funds $ 47,682 $ — $ — $ 47,682 Total cash equivalents $ 47,682 $ — $ — $ 47,682 Short-term investments Commercial paper $ — $ 79,725 $ — $ 79,725 Corporate bonds — 12,682 — 12,682 Supranational bonds — 13,187 — 13,187 U.S. Treasury and agency obligations — 19,517 — 19,517 Total short-term investments $ — $ 125,111 $ — $ 125,111 December 31, 2020 (in thousands) Level 1 Level 2 Level 3 Total Cash equivalents Money market funds $ 44,153 $ — $ — $ 44,153 Commercial paper — 4,500 — 4,500 Total cash equivalents $ 44,153 $ 4,500 $ — $ 48,653 Short-term investments Commercial paper $ — $ 71,425 $ — $ 71,425 Corporate bonds — 4,505 — 4,505 U.S. Treasury and agency obligations — 37,693 — 37,693 Total short-term investments $ — $ 113,623 $ — $ 113,623

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	6 Months Ended
	Jun. 30, 2021
Property, Plant and Equipment [Abstract]
Property and equipment, net	Property and equipment, net consisted of the following: (in thousands) June 30, 2021 December 31, 2020 Computer software and equipment $ 24,677 $ 22,930 Furniture and fixtures 6,033 6,011 Leasehold improvements 27,229 26,210 Right-of-use assets under finance leases 1,344 1,571 Total 59,283 56,722 Less: accumulated depreciation and amortization (21,876) (17,802) Property and equipment, net $ 37,407 $ 38,920

Acquisition, Goodwill and Acq_2

Acquisition, Goodwill and Acquired Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of recognized identified assets acquired and liabilities assumed	The cash consideration, net of cash acquired, was preliminarily allocated as follows: (in thousands) Accounts receivable $ 4,105 Prepaid expenses and other assets 2,304 Intangible assets 31,400 Goodwill 72,291 Accounts payable, accrued expenses and accrued compensation (3,794) Deferred revenue (3,699) Deferred tax liabilities, net (4,118) Total purchase price allocation $ 98,489
Schedule of acquired finite-lived intangible assets by major class	Acquired intangible assets and their estimated useful lives at the date of acquisition are as follows: Intangible Assets (dollars in thousands) Cost Estimated Useful Life Acquired technology $ 31,300 7 years Trade name 100 1 year Acquired intangible assets $ 31,400
Schedule of finite-lived intangible assets	Acquired intangible assets subject to amortization are as follows: June 30, 2021 December 31, 2020 (in thousands) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Acquired technology $ 48,625 $ (6,138) $ 42,487 $ 17,325 $ (4,224) $ 13,101 Trade name 300 (177) 123 200 (108) 92 $ 48,925 $ (6,315) $ 42,610 $ 17,525 $ (4,332) $ 13,193
Schedule of finite-lived intangible assets, future amortization expense	At June 30, 2021, estimated future amortization of acquired intangible assets is as follows: (in thousands) Year ending December 31, 2021 (1) $ 3,435 2022 6,718 2023 6,686 2024 6,686 2025 6,686 Thereafter 12,399 Total $ 42,610 _______________ (1) Represents the six months ending December 31, 2021.
Schedule of goodwill	The changes in the carrying amount of goodwill are as follows: (in thousands) Balance at December 31, 2020 $ 54,414 Acquired goodwill 72,291 Balance at June 30, 2021 $ 126,705

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2021
Leases [Abstract]
Components of lease expense and supplemental information	The components of lease expense were as follows: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2021 2020 2021 2020 Operating lease cost $ 1,907 $ 2,327 $ 3,776 $ 4,811 Finance lease cost Amortization of ROU assets $ 2 $ 76 $ 4 $ 186 Interest on lease liabilities 2 1 3 3 Total finance lease cost $ 4 $ 77 $ 7 $ 189 Supplemental information related to leases was as follows: June 30, 2021 December 31, 2020 Operating leases Weighted average remaining lease term 9.9 years 10.0 years Weighted average discount rate 5.6% 5.6%
Schedule of maturities of operating lease liabilities	Maturities of operating lease liabilities at June 30, 2021 were as follows: (in thousands) Year ending December 31, 2021 (1) $ 1,419 2022 8,017 2023 7,689 2024 7,843 2025 7,405 Thereafter 44,499 Total lease payments 76,872 Less: Imputed interest (19,489) Total $ 57,383 _______________ (1) Represents the six months ending December 31, 2021.

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2021
Share-based Payment Arrangement [Abstract]
Stock-based compensation expense	Stock-based compensation expense included in the consolidated statements of operations was as follows: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2021 2020 2021 2020 Cost of revenue $ 1,202 $ 830 $ 2,139 $ 1,577 Sales and marketing 7,577 5,375 13,873 9,871 Research and development 5,176 3,893 9,332 6,841 General and administrative 6,514 5,568 12,077 10,412 Total stock-based compensation expense $ 20,469 $ 15,666 $ 37,421 $ 28,701
Summary of restricted stock and restricted stock units	A summary of our restricted stock and RSU activity is presented below: Restricted Stock RSUs (in thousands, except for per share data) Number Weighted Number Weighted Unvested balance at December 31, 2020 99 $ 4.25 4,490 $ 28.13 Granted — — 3,099 42.18 Vested (99) 4.25 (1,184) 27.95 Forfeited — — (353) 31.26 Unvested balance at June 30, 2021 — — 6,052 35.18
Stock option activity	A summary of our stock option activity is presented below: (in thousands, except for exercise prices and years) Number Weighted Weighted-Average Remaining Contractual Term (in years) Aggregate Intrinsic Value Outstanding at December 31, 2020 9,441 $ 8.56 6.4 $ 412,547 Granted — — Exercised (1,212) 7.18 44,483 Forfeited/canceled (28) 14.29 Outstanding at June 30, 2021 8,201 8.75 6.0 267,365 Exercisable at June 30, 2021 6,584 7.24 5.8 224,561
ESPP valuation assumptions	The fair value of the 2018 ESPP purchase rights was estimated on the offering or modification dates using a Black-Scholes option-pricing model and the following assumptions: Six Months Ended June 30, 2021 2020 Expected term (in years) 0.5 — 2.0 0.5 — 2.0 Expected volatility 52.0% — 59.4% 41.6% — 47.9% Risk-free interest rate 0.1% 0.8% — 0.9% Expected dividend yield — —

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	6 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
Computation of basic and diluted net loss per share	The following table sets forth the computation of basic and diluted net loss per share: Three Months Ended June 30, Six Months Ended June 30, (in thousands, except per share data) 2021 2020 2021 2020 Net loss $ (11,638) $ (11,960) $ (19,386) $ (34,937) Weighted-average shares used to compute net loss per share, basic and diluted 105,869 100,209 105,203 99,532 Net loss per share, basic and diluted $ (0.11) $ (0.12) $ (0.18) $ (0.35)
Potentially dilutive securities	The following potentially dilutive securities have been excluded from the diluted per share calculations because they would have been antidilutive: June 30, (in thousands) 2021 2020 Stock options 8,201 11,058 RSUs 6,052 5,436 Shares to be issued under the 2018 ESPP 217 255 Restricted stock — 297 Total 14,470 17,046

Geographic Information (Tables)

Geographic Information (Tables)	6 Months Ended
	Jun. 30, 2021
Segment Reporting [Abstract]
Revenue by region	Revenue by region, based on the address of the end user as specified in our subscription, license or service agreements, was as follows: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2021 2020 2021 2020 The Americas $ 84,462 $ 71,946 $ 165,057 $ 141,260 Europe, Middle East and Africa 31,947 24,642 61,213 48,192 Asia Pacific 13,850 10,621 27,178 20,405 Revenue $ 130,259 $ 107,209 $ 253,448 $ 209,857
Property and equipment, net by geographic area	Our property and equipment, net by geographic area is summarized as follows: (in thousands) June 30, 2021 December 31, 2020 United States $ 34,249 $ 35,406 International 3,158 3,514 Property and equipment, net $ 37,407 $ 38,920

Revenue - Summary of Revenue (D

Revenue - Summary of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Disaggregation of Revenue [Line Items]
Revenue	$ 130,259	$ 107,209	$ 253,448	$ 209,857
Subscription revenue
Disaggregation of Revenue [Line Items]
Revenue	114,167	92,010	221,569	178,400
Perpetual license and maintenance revenue
Disaggregation of Revenue [Line Items]
Revenue	12,567	12,179	24,972	25,598
Professional services and other revenue
Disaggregation of Revenue [Line Items]
Revenue	$ 3,525	$ 3,020	$ 6,907	$ 5,859

Revenue - Concentrations (Detai

Revenue - Concentrations (Details)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
One distributor | Revenue | Customer concentration risk
Concentration Risk [Line Items]
Concentration risk, percentage	40.00%	43.00%	40.00%	43.00%
One distributor | Accounts receivable | Customer concentration risk
Concentration Risk [Line Items]
Concentration risk, percentage			37.00%		41.00%
Channel network | Revenue | Sales method risk
Concentration Risk [Line Items]
Concentration risk, percentage	92.00%	91.00%	92.00%	91.00%

Revenue - Contract Balances (De

Revenue - Contract Balances (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Revenue from Contract with Customer [Abstract]
Revenue recognized that was included in deferred revenue	$ 119	$ 99.5	$ 210.5	$ 175

Revenue - Remaining Performance

Revenue - Remaining Performance Obligations (Details) $ in Millions	Jun. 30, 2021USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Future estimated revenue	$ 461.6
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Expected recognized percentage over succeeding 12 months	75.00%
Expected timing of satisfaction	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Expected timing of satisfaction	4 years

Revenue - Activity of Deferred

Revenue - Activity of Deferred Contract Costs (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Capitalized Contract Cost [Roll Forward]
Beginning balance	$ 77,300	$ 70,742	$ 78,876	$ 72,265
Capitalization of contract acquisition costs	10,222	8,892	17,446	15,013
Amortization of deferred contract acquisition costs	(9,025)	(7,866)	(17,825)	(15,510)
Ending balance	$ 78,497	$ 71,768	$ 78,497	$ 71,768

Cash Equivalents and Short-Te_3

Cash Equivalents and Short-Term Investments - Summary of Amortized Cost, Unrealized Gain and Loss and Estimated Fair Value (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Cash and Cash Equivalents [Line Items]
Cash equivalents	$ 47,682	$ 48,653
Amortized Cost	125,127	113,613
Unrealized Gain	3	10
Unrealized Loss	(19)	0
Estimated Fair Value	125,111	113,623
Commercial paper
Cash and Cash Equivalents [Line Items]
Amortized Cost	79,725	71,425
Unrealized Gain	0	0
Unrealized Loss	0	0
Estimated Fair Value	79,725	71,425
Corporate bonds
Cash and Cash Equivalents [Line Items]
Amortized Cost	12,682	4,502
Unrealized Gain	1	3
Unrealized Loss	(1)	0
Estimated Fair Value	12,682	4,505
Supranational bonds
Cash and Cash Equivalents [Line Items]
Amortized Cost	13,198
Unrealized Gain	0
Unrealized Loss	(11)
Estimated Fair Value	13,187
U.S. Treasury and agency obligations
Cash and Cash Equivalents [Line Items]
Amortized Cost	19,522	37,686
Unrealized Gain	2	7
Unrealized Loss	(7)	0
Estimated Fair Value	19,517	37,693
Money market funds
Cash and Cash Equivalents [Line Items]
Cash equivalents	$ 47,682	44,153
Commercial paper
Cash and Cash Equivalents [Line Items]
Cash equivalents		$ 4,500

Cash Equivalents and Short-Te_4

Cash Equivalents and Short-Term Investments - Contractual Maturities on Short-term Investments (Details) $ in Thousands	Jun. 30, 2021USD ($)
Cash and Cash Equivalents [Abstract]
Amortized cost, due within on year	$ 102,583
Estimated fair value, due within one year	102,584
Amortized cost, due between one and two years	22,544
Estimated fair value, due between one and two years	22,527
Amortized Cost	125,127
Estimated Fair Value	$ 125,111

Cash Equivalents and Short-Te_5

Cash Equivalents and Short-Term Investments - Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Collateral For Letters of Credit
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	$ 5.8
Collateral for Lease and Credit Card Deposits
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash		$ 0.4
Collateral for Lease Arrangement
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	$ 0.3	$ 0.2

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Assets Measured on a Fair Value Basis (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	$ 47,682	$ 48,653
Short-term investments	125,111	113,623
Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	79,725	71,425
Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	12,682	4,505
Supranational bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	13,187
U.S. Treasury and agency obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	19,517	37,693
Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	47,682	44,153
Cash equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	47,682	48,653
Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents		4,500
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	0	0
Level 1 | Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	0	0
Level 1 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	0	0
Level 1 | Supranational bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	0
Level 1 | U.S. Treasury and agency obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	0	0
Level 1 | Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	47,682	44,153
Level 1 | Cash equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	47,682	44,153
Level 1 | Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents		0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	125,111	113,623
Level 2 | Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	79,725	71,425
Level 2 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	12,682	4,505
Level 2 | Supranational bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	13,187
Level 2 | U.S. Treasury and agency obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	19,517	37,693
Level 2 | Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Level 2 | Cash equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	4,500
Level 2 | Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents		4,500
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	0	0
Level 3 | Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	0	0
Level 3 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	0	0
Level 3 | Supranational bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	0
Level 3 | U.S. Treasury and agency obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	0	0
Level 3 | Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Level 3 | Cash equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	$ 0	0
Level 3 | Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents		$ 0

Property and Equipment, Net (De

Property and Equipment, Net (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Right-of-use assets under finance leases	$ 1,344		$ 1,344		$ 1,571
Total	59,283		59,283		56,722
Less: accumulated depreciation and amortization	(21,876)		(21,876)		(17,802)
Property and equipment, net	37,407		37,407		38,920
Depreciation and amortization	2,500	$ 2,000	4,700	$ 4,000
Computer software and equipment
Property, Plant and Equipment [Line Items]
Property, plant, and equipment, gross	24,677		24,677		22,930
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property, plant, and equipment, gross	6,033		6,033		6,011
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property, plant, and equipment, gross	$ 27,229		$ 27,229		$ 26,210

Acquisition, Goodwill and Acq_3

Acquisition, Goodwill and Acquired Intangible Assets - Narrative (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		6 Months Ended
	Apr. 30, 2021	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Business Acquisition [Line Items]
Business combination, net of cash acquired				$ 98,489	$ 0
Business combination, acquisition related costs		$ 1,500		3,700
Amortization of acquired intangible assets		$ 1,400	$ 600	$ 2,000	$ 1,200
Estimated useful life				6 years 4 months 24 days
Alsid SAS
Business Acquisition [Line Items]
Business combination, net of cash acquired	$ 98,500
Cash acquired in acquisition	$ 3,300

Acquisition, Goodwill and Acq_4

Acquisition, Goodwill and Acquired Intangible Assets - Schedule of Assets Acquired and Liabilities Assumed from Acquisition (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Apr. 30, 2021	Dec. 31, 2020
Business Acquisition [Line Items]
Goodwill	$ 126,705		$ 54,414
Alsid SAS
Business Acquisition [Line Items]
Accounts receivable		$ 4,105
Prepaid expenses and other assets		2,304
Intangible assets		31,400
Goodwill		72,291
Accounts payable, accrued expenses and accrued compensation		(3,794)
Deferred revenue		(3,699)
Deferred tax liabilities, net		(4,118)
Total purchase price allocation		$ 98,489

Acquisition, Goodwill and Acq_5

Acquisition, Goodwill and Acquired Intangible Assets - Schedule of Acquired Finite-lived Intangible Assets (Details) - USD ($) $ in Thousands	1 Months Ended	6 Months Ended
	Apr. 30, 2021	Jun. 30, 2021
Finite-Lived Intangible Assets [Line Items]
Intangible assets acquired, cost	$ 31,400
Estimated Useful Life		6 years 4 months 24 days
Acquired technology
Finite-Lived Intangible Assets [Line Items]
Intangible assets acquired, cost	$ 31,300
Estimated Useful Life	7 years
Trade name
Finite-Lived Intangible Assets [Line Items]
Intangible assets acquired, cost	$ 100
Estimated Useful Life	1 year

Acquisition, Goodwill and Acq_6

Acquisition, Goodwill and Acquired Intangible Assets - Goodwill Rollforward (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2021USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 54,414
Acquired goodwill	72,291
Ending balance	$ 126,705

Acquisition, Goodwill and Acq_7

Acquisition, Goodwill and Acquired Intangible Assets - Schedule of Finite-lived Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 48,925	$ 17,525
Accumulated Amortization	(6,315)	(4,332)
Total	42,610	13,193
Acquired technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	48,625	17,325
Accumulated Amortization	(6,138)	(4,224)
Total	42,487	13,101
Trade name
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	300	200
Accumulated Amortization	(177)	(108)
Total	$ 123	$ 92

Acquisition, Goodwill and Acq_8

Acquisition, Goodwill and Acquired Intangible Assets - Schedule of Future Amortization of Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets, Amortization Expense, Maturity Schedule [Abstract]
2021	$ 3,435
2022	6,718
2023	6,686
2024	6,686
2025	6,686
Thereafter	12,399
Total	$ 42,610	$ 13,193

Leases - Components of Lease Ex

Leases - Components of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Leases [Abstract]
Operating lease cost	$ 1,907	$ 2,327	$ 3,776	$ 4,811
Finance lease cost
Amortization of ROU assets	2	76	4	186
Interest on lease liabilities	2	1	3	3
Total finance lease cost	$ 4	$ 77	$ 7	$ 189

Leases - Supplemental Informati

Leases - Supplemental Information Related to Leases (Details)	Jun. 30, 2021	Dec. 31, 2020
Operating leases
Weighted average remaining lease term	9 years 10 months 24 days	10 years
Weighted average discount rate	5.60%	5.60%

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Leases [Abstract]
Right-of-use asset obtained in exchange for operating lease liability	$ 0	$ 0.7	$ 0	$ 0.7

Leases - Operating Lease Liabil

Leases - Operating Lease Liability Maturities (Details) $ in Thousands	Jun. 30, 2021USD ($)
Leases [Abstract]
2021	$ 1,419
2022	8,017
2023	7,689
2024	7,843
2025	7,405
Thereafter	44,499
Total lease payments	76,872
Less: Imputed interest	(19,489)
Total	$ 57,383

Debt (Details)

Debt (Details) - USD ($)	1 Months Ended	6 Months Ended
	Jul. 31, 2020	Jun. 30, 2021	May 04, 2017
Line of Credit Facility [Line Items]
Each type of capital stock of first-tier foreign subsidiaries, percent secured against line of credit	65.00%
Revolving Credit Facility
Line of Credit Facility [Line Items]
Credit facility, maximum borrowing capacity			$ 25,000,000
Revolving Credit Facility | 2020 Credit Facility
Line of Credit Facility [Line Items]
Credit facility, maximum borrowing capacity	$ 45,000,000
Commitment fee percentage	0.35%
Uncommitted expansion	$ 45,000,000
Uncommitted expansion, minimum quick ratio covenant	1.5
Line of credit, amount outstanding		$ 0
Line of credit facility, decrease in borrowing capacity		$ 5,500,000
Revolving Credit Facility | 2020 Credit Facility | LIBOR
Line of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate	2.00%
Debt instrument, basis spread on variable rate, variable rate floor	1.00%
Revolving Credit Facility | 2020 Credit Facility | Adjusted Base Rate
Line of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate	1.00%
Letter of Credit | 2020 Credit Facility
Line of Credit Facility [Line Items]
Credit facility, maximum borrowing capacity	$ 10,000,000
Bridge Loan | 2020 Credit Facility
Line of Credit Facility [Line Items]
Credit facility, maximum borrowing capacity	$ 10,000,000

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Details) $ in Millions	6 Months Ended
	Jun. 30, 2021USD ($)shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized stock-based compensation expense, outstanding stock options	$ 6
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized stock-based compensation expense, unvested restricted stock or RSUs	$ 196.9
Estimated remaining weighted average period	3 years 1 month 6 days
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Estimated remaining weighted average period	10 months 24 days
2018 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for grant (in shares) | shares	20,239,030

Stock-Based Compensation - Stoc

Stock-Based Compensation - Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation	$ 20,469	$ 15,666	$ 37,421	$ 28,701
Cost of revenue
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation	1,202	830	2,139	1,577
Sales and marketing
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation	7,577	5,375	13,873	9,871
Research and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation	5,176	3,893	9,332	6,841
General and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation	$ 6,514	$ 5,568	$ 12,077	$ 10,412

Stock-Based Compensation - Rest

Stock-Based Compensation - Restricted Stock and Restricted Stock Units (Details) shares in Thousands	6 Months Ended
	Jun. 30, 2021$ / sharesshares
Restricted stock
Number of Shares
Number of shares unvested, beginning of period (in shares) | shares	99
Number of shares, granted (in shares) | shares	0
Number of shares, vested (in shares) | shares	(99)
Number of shares, forfeited (in shares) | shares	0
Number of shares unvested, end of period (in shares) | shares	0
Weighted Average Grant Date Fair Value
Weighted average grant date fair value, beginning of period (in usd per share) | $ / shares	$ 4.25
Weighted average grant date fair value, granted (in usd per share) | $ / shares	0
Weighted average grant date fair value, vested (in usd per share) | $ / shares	4.25
Weighted average grant date fair value, forfeited (in usd per share) | $ / shares	0
Weighted average grant date fair value, end of period (in usd per share) | $ / shares	$ 0
RSUs
Number of Shares
Number of shares unvested, beginning of period (in shares) | shares	4,490
Number of shares, granted (in shares) | shares	3,099
Number of shares, vested (in shares) | shares	(1,184)
Number of shares, forfeited (in shares) | shares	(353)
Number of shares unvested, end of period (in shares) | shares	6,052
Weighted Average Grant Date Fair Value
Weighted average grant date fair value, beginning of period (in usd per share) | $ / shares	$ 28.13
Weighted average grant date fair value, granted (in usd per share) | $ / shares	42.18
Weighted average grant date fair value, vested (in usd per share) | $ / shares	27.95
Weighted average grant date fair value, forfeited (in usd per share) | $ / shares	31.26
Weighted average grant date fair value, end of period (in usd per share) | $ / shares	$ 35.18

Stock-Based Compensation - St_2

Stock-Based Compensation - Stock Option Activity (Details) $ / shares in Units, shares in Thousands, $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2021USD ($)$ / sharesshares	Dec. 31, 2020USD ($)$ / sharesshares
Number of Shares
Number of shares outstanding, beginning of period (in shares) | shares	9,441
Number of shares, granted (in shares) | shares	0
Number of shares, exercised (in shares) | shares	(1,212)
Number of shares, forfeited/canceled (in shares) | shares	(28)
Number of shares outstanding, end of period (in shares) | shares	8,201	9,441
Number of shares exercisable (in shares) | shares	6,584
Weighted Average Exercise Price
Weighted average exercise price, outstanding, beginning of period (in usd per share) | $ / shares	$ 8.56
Weighted average exercise price, granted (in usd per share) | $ / shares	0
Weighted average exercise price, exercised (in usd per share) | $ / shares	7.18
Weighted average exercise price, forfeited/canceled (in usd per share) | $ / shares	14.29
Weighted average exercise price, outstanding, end of period (in usd per share) | $ / shares	8.75	$ 8.56
Weighted average exercise price, exercisable (in usd per share) | $ / shares	$ 7.24
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Weighted average remaining contractual term (in years), outstanding	6 years	6 years 4 months 24 days
Weighted average remaining contractual term (in years), exercisable	5 years 9 months 18 days
Aggregate intrinsic value, outstanding | $	$ 267,365	$ 412,547
Aggregate intrinsic value, exercised | $	44,483
Aggregate intrinsic value, exercisable | $	$ 224,561

Stock-Based Compensation - St_3

Stock-Based Compensation - Stock Option Activity (Narrative) (Details) shares in Millions	Jun. 30, 2021shares
Share-based Payment Arrangement [Abstract]
Stock options vested and expected to vest (in shares)	8.2

Stock-Based Compensation - Empl

Stock-Based Compensation - Employee Stock Purchase Plan (Details) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Proceeds from stock issued in connection with the employee stock purchase plan	$ 8,046	$ 7,307
Employee stock purchase plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for grant (in shares)	6,587,717
Common stock purchased (in shares)	399,187
Share price (in usd per share)	$ 20.16
Employee contributions	$ 4,400
Unrecognized stock-based compensation expense	$ 2,600
Remaining offering period	8 months 12 days

Stock-Based Compensation - Fair

Stock-Based Compensation - Fair Value Assumptions (Details) - Employee stock purchase plan	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility, minimum	52.00%	41.60%
Expected volatility, maximum	59.40%	47.90%
Risk-free interest rate	0.10%
Risk-free interest rate, minimum		0.80%
Risk-free interest rate, maximum		0.90%
Expected dividend yield	0.00%	0.00%
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)	6 months	6 months
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)	2 years	2 years

Net Loss Per Share - Computatio

Net Loss Per Share - Computation of Basic and Diluted Net Loss Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Earnings Per Share [Abstract]
Net loss	$ (11,638)	$ (11,960)	$ (19,386)	$ (34,937)
Weighted-average shares used to compute net loss per share, basic (in shares)	105,869	100,209	105,203	99,532
Weighted-average shares used to compute net loss per share, diluted (in shares)	105,869	100,209	105,203	99,532
Net loss per share, diluted (in usd per share)	$ (0.11)	$ (0.12)	$ (0.18)	$ (0.35)
Net loss per share, basic (in usd per share)	$ (0.11)	$ (0.12)	$ (0.18)	$ (0.35)

Net Loss Per Share - Schedule o

Net Loss Per Share - Schedule of Potentially Dilutive Securities (Details) - shares shares in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	14,470	17,046
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	8,201	11,058
RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	6,052	5,436
Shares to be issued under the 2018 ESPP
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	217	255
Restricted stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	0	297

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2021
Alsid SAS
Income Tax Examination [Line Items]
Deferred tax benefit	$ (1.1)
Israel
Income Tax Examination [Line Items]
Income tax expense, research and development		$ 2.8
India
Income Tax Examination [Line Items]
Tax settlement, foreign amount		$ 2.6

Geographic Information - Narrat

Geographic Information - Narrative (Details) - segment	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Concentration Risk [Line Items]
Number of operating segments			1
United States | Revenue | Geographic concentration risk
Concentration Risk [Line Items]
Concentration risk, percentage	59.00%	61.00%	59.00%	62.00%

Geographic Information - Revenu

Geographic Information - Revenue by Geographic Region (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 130,259	$ 107,209	$ 253,448	$ 209,857
The Americas
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	84,462	71,946	165,057	141,260
Europe, Middle East and Africa
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	31,947	24,642	61,213	48,192
Asia Pacific
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 13,850	$ 10,621	$ 27,178	$ 20,405

Geographic Information - Proper

Geographic Information - Property And Equipment, Net By Geographic Area (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Revenues from External Customers and Long-Lived Assets [Line Items]
Property and equipment, net	$ 37,407	$ 38,920
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Property and equipment, net	34,249	35,406
International
Revenues from External Customers and Long-Lived Assets [Line Items]
Property and equipment, net	$ 3,158	$ 3,514

Subsequent Events (Details)

Subsequent Events (Details) - USD ($)	1 Months Ended
	Jul. 31, 2021	May 04, 2017
Subsequent Event
Subsequent Event [Line Items]
Debt instrument, covenant, percent drawn on line of credit, minimum	35.00%
Debt instrument, covenant, leverage ratio, maximum	5.50
Purchase obligation, to be paid, year one	$ 43,700,000
Purchase obligation, to be paid, year two	46,800,000
Purchase obligation, to be paid, year three	50,100,000
Purchase obligation	$ 140,600,000
Secured Debt | Term Loan | Subsequent Event
Subsequent Event [Line Items]
Annual amortization amount, percent	1.00%
Secured Debt | Term Loan | Subsequent Event | LIBOR
Subsequent Event [Line Items]
Debt instrument, basis spread on variable rate	2.75%
Debt instrument, basis spread on variable rate, variable rate floor	0.50%
Secured Debt | Term Loan | Line of Credit | Subsequent Event
Subsequent Event [Line Items]
Credit facility, maximum borrowing capacity	$ 375,000,000
Revolving Credit Facility
Subsequent Event [Line Items]
Credit facility, maximum borrowing capacity		$ 25,000,000
Revolving Credit Facility | Subsequent Event | LIBOR | Minimum
Subsequent Event [Line Items]
Debt instrument, basis spread on variable rate	2.00%
Revolving Credit Facility | Subsequent Event | LIBOR | Maximum
Subsequent Event [Line Items]
Debt instrument, basis spread on variable rate	2.50%
Revolving Credit Facility | Credit Agreement | Line of Credit | Subsequent Event
Subsequent Event [Line Items]
Line of credit, amount outstanding	$ 0
Revolving Credit Facility | Revolving Credit Facility | Subsequent Event
Subsequent Event [Line Items]
Credit facility, maximum borrowing capacity	50,000,000
Letter of Credit | Subsequent Event
Subsequent Event [Line Items]
Credit facility, maximum borrowing capacity	$ 15,000,000
Line of Credit | Credit Agreement | Subsequent Event | Minimum
Subsequent Event [Line Items]
Unused capacity, commitment fee percentage	0.25%
Line of Credit | Credit Agreement | Subsequent Event | Maximum
Subsequent Event [Line Items]
Unused capacity, commitment fee percentage	0.375%