Tenable (TENB) 10-Q 8 Nov 23 2023 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2023	Nov. 03, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2023
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		116,934,931
Entity Central Index Key	0001660280
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus (i.e. Q1,Q2,Q3,FY)	Q3
Amendment Flag	false

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 445,316	$ 300,866
Short-term investments	247,658	266,569
Accounts receivable (net of allowance for doubtful accounts of $225 and $1,400 at September 30, 2023 and December 31, 2022, respectively)	179,432	187,341
Deferred commissions	46,132	44,270
Prepaid expenses and other current assets	52,529	58,121
Total current assets	971,067	857,167
Property and equipment, net	44,076	46,726
Deferred commissions (net of current portion)	65,412	67,238
Operating lease right-of-use assets	35,989	38,495
Acquired intangible assets, net	66,169	75,376
Goodwill	316,520	316,520
Other assets	25,213	38,008
Total assets	1,524,446	1,439,530
Current liabilities:
Accounts payable and accrued expenses	26,880	18,722
Accrued compensation	44,850	52,620
Deferred revenue	518,372	502,115
Operating lease liabilities	5,655	5,821
Other current liabilities	4,986	4,882
Total current liabilities	600,743	584,160
Deferred revenue (net of current portion)	163,086	162,487
Term loan, net of issuance costs (net of current portion)	359,941	361,970
Operating lease liabilities (net of current portion)	49,382	52,611
Other liabilities	7,621	7,436
Total liabilities	1,180,773	1,168,664
Stockholders’ equity:
Common stock (par value: $0.01; 500,000 shares authorized; 116,470 and 113,056 shares issued and outstanding at September 30, 2023 and December 31, 2022, respectively)	1,165	1,131
Additional paid-in capital	1,146,435	1,017,837
Accumulated other comprehensive loss	(540)	(1,351)
Accumulated deficit	(803,387)	(746,751)
Total stockholders’ equity	343,673	270,866
Total liabilities and stockholders’ equity	$ 1,524,446	$ 1,439,530

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Accounts receivable, allowance for doubtful accounts	$ 225	$ 1,400
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)	116,470	113,056
Common stock, shares outstanding (in shares)	116,470	113,056

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Statement [Abstract]
Revenue	$ 201,529	$ 174,851	$ 585,404	$ 498,560
Cost of revenue	45,754	38,582	134,774	109,549
Gross profit	155,775	136,269	450,630	389,011
Operating expenses:
Sales and marketing	94,759	88,123	289,750	258,119
Research and development	37,052	36,131	113,080	106,649
General and administrative	31,877	24,973	85,614	77,969
Total operating expenses	163,688	149,227	488,444	442,737
Loss from operations	(7,913)	(12,958)	(37,814)	(53,726)
Interest income	7,662	1,803	19,323	2,746
Interest expense	(8,119)	(5,082)	(23,208)	(12,246)
Other expense, net	(6,502)	(2,073)	(7,993)	(4,880)
Loss before income taxes	(14,872)	(18,310)	(49,692)	(68,106)
Provision for income taxes	693	420	6,944	2,629
Net loss	$ (15,565)	$ (18,730)	$ (56,636)	$ (70,735)
Net loss per share, basic (in usd per share)	$ (0.13)	$ (0.17)	$ (0.49)	$ (0.64)
Net loss per share, diluted (in usd per share)	$ (0.13)	$ (0.17)	$ (0.49)	$ (0.64)
Weighted-average shares used to compute net loss per share, basic (in shares)	115,954	111,937	114,967	110,843
Weighted-average shares used to compute net loss per share, diluted (in shares)	115,954	111,937	114,967	110,843

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Statement of Comprehensive Income [Abstract]
Net loss	$ (15,565)	$ (18,730)	$ (56,636)	$ (70,735)
Other comprehensive income (loss), net of tax:
Unrealized gains (losses) on available-for-sale securities, net	161	(13)	811	(1,563)
Other comprehensive income (loss)	161	(13)	811	(1,563)
Comprehensive loss	$ (15,404)	$ (18,743)	$ (55,825)	$ (72,298)

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 Loss	Accumulated Deficit
Beginning Balance (in shares) at Dec. 31, 2021		108,929
Beginning Balance at Dec. 31, 2021	$ 215,313	$ 1,089	$ 869,059	$ (306)	$ (654,529)
Increase (Decrease) in Stockholders' Deficit [Roll Forward]
Exercise of stock options (in shares)		1,090
Exercise of stock options	10,655	$ 11	10,644
Vesting of restricted stock units (in shares)		1,939
Vesting of restricted stock units	0	$ 19	(19)
Issuance of common stock under employee stock purchase plan (in shares)		443
Issuance of common stock under employee stock purchase plan	14,791	$ 5	14,786
Stock-based compensation	91,394		91,394
Other comprehensive income (loss)	(1,563)			(1,563)
Net loss	(70,735)				(70,735)
Ending Balance (in shares) at Sep. 30, 2022		112,401
Ending Balance at Sep. 30, 2022	259,855	$ 1,124	985,864	(1,869)	(725,264)
Beginning Balance (in shares) at Jun. 30, 2022		111,574
Beginning Balance at Jun. 30, 2022	237,525	$ 1,116	944,799	(1,856)	(706,534)
Increase (Decrease) in Stockholders' Deficit [Roll Forward]
Exercise of stock options (in shares)		158
Exercise of stock options	1,979	$ 2	1,977
Vesting of restricted stock units (in shares)		482
Vesting of restricted stock units	0	$ 4	(4)
Issuance of common stock under employee stock purchase plan (in shares)		187
Issuance of common stock under employee stock purchase plan	5,909	$ 2	5,907
Stock-based compensation	33,185		33,185
Other comprehensive income (loss)	(13)			(13)
Net loss	(18,730)				(18,730)
Ending Balance (in shares) at Sep. 30, 2022		112,401
Ending Balance at Sep. 30, 2022	$ 259,855	$ 1,124	985,864	(1,869)	(725,264)
Beginning Balance (in shares) at Dec. 31, 2022	113,056	113,056
Beginning Balance at Dec. 31, 2022	$ 270,866	$ 1,131	1,017,837	(1,351)	(746,751)
Increase (Decrease) in Stockholders' Deficit [Roll Forward]
Exercise of stock options (in shares)	289	289
Exercise of stock options	$ 2,421	$ 3	2,418
Vesting of restricted stock units (in shares)		2,541
Vesting of restricted stock units	0	$ 25	(25)
Vesting of performance stock units (in shares)		78
Vesting of performance stock units	0	$ 1	(1)
Issuance of common stock under employee stock purchase plan (in shares)		506
Issuance of common stock under employee stock purchase plan	16,224	$ 5	16,219
Stock-based compensation	109,987		109,987
Other comprehensive income (loss)	811			811
Net loss	$ (56,636)				(56,636)
Ending Balance (in shares) at Sep. 30, 2023	116,470	116,470
Ending Balance at Sep. 30, 2023	$ 343,673	$ 1,165	1,146,435	(540)	(803,387)
Beginning Balance (in shares) at Jun. 30, 2023		115,529
Beginning Balance at Jun. 30, 2023	314,561	$ 1,156	1,101,928	(701)	(787,822)
Increase (Decrease) in Stockholders' Deficit [Roll Forward]
Exercise of stock options (in shares)		123
Exercise of stock options	884	$ 1	883
Vesting of restricted stock units (in shares)		611
Vesting of restricted stock units	0	$ 6	(6)
Vesting of performance stock units (in shares)		13
Vesting of performance stock units	0
Issuance of common stock under employee stock purchase plan (in shares)		194
Issuance of common stock under employee stock purchase plan	6,310	$ 2	6,308
Stock-based compensation	37,322		37,322
Other comprehensive income (loss)	161			161
Net loss	$ (15,565)				(15,565)
Ending Balance (in shares) at Sep. 30, 2023	116,470	116,470
Ending Balance at Sep. 30, 2023	$ 343,673	$ 1,165	$ 1,146,435	$ (540)	$ (803,387)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Cash flows from operating activities:
Net loss	$ (56,636)	$ (70,735)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	18,900	15,911
Stock-based compensation	108,812	89,954
Other	1,838	2,102
Changes in operating assets and liabilities:
Accounts receivable	9,084	(10,727)
Prepaid expenses and other assets	17,524	20,355
Accounts payable, accrued expenses and accrued compensation	447	(8,829)
Deferred revenue	16,856	61,731
Other current and noncurrent liabilities	(5,475)	(529)
Net cash provided by operating activities	111,350	99,233
Cash flows from investing activities:
Purchases of property and equipment	(1,299)	(5,132)
Capitalized software development costs	(4,707)	(8,778)
Purchases of short-term investments	(217,239)	(190,440)
Sales and maturities of short-term investments	242,864	163,340
Business combinations, net of cash acquired	0	(66,993)
Net cash provided by (used in) investing activities	19,619	(108,003)
Cash flows from financing activities:
Payments on term loan	(2,813)	(2,813)
Proceeds from loan agreement	424	572
Proceeds from stock issued in connection with the employee stock purchase plan	16,224	14,791
Proceeds from the exercise of stock options	2,421	10,655
Other financing activities	(213)	(10)
Net cash provided by financing activities	16,043	23,195
Effect of exchange rate changes on cash and cash equivalents and restricted cash	(2,562)	(4,276)
Net increase in cash and cash equivalents and restricted cash	144,450	10,149
Cash and cash equivalents and restricted cash at beginning of period	300,866	278,271
Cash and cash equivalents and restricted cash at end of period	445,316	288,420
Supplemental disclosure of cash flow information:
Cash paid for interest	26,786	10,619
Cash paid for income taxes, net of refunds	6,166	7,630
Supplemental cash flow information related to leases:
Cash payments for operating leases	$ 6,797	$ 3,641

Business and Summary of Signifi

Business and Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2023
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 exposure management solutions, which is an effective discipline for managing, measuring and comparing cybersecurity risk in today's complex IT environments. Our solutions 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, Active Directory 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 and have been prepared in conformity with United States generally accepted accounting principles (“GAAP”) for interim financial information. All intercompany accounts and transactions have been eliminated in consolidation. The consolidated statements are unaudited and should be read in conjunction with the consolidated financial statements and related notes included in our 2022 Annual Report on Form 10-K ("10-K") filed with the Securities and Exchange Commission on February 24, 2023. 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 three and nine months ended September 30, 2023 are not necessarily indicative of the operating results expected for the year ending December 31, 2023 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, the valuation of stock-based compensation, the incremental borrowing rate for operating leases, and the valuation of deferred tax assets and investments. 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

Revenue

Revenue	9 Months Ended
	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Revenue	Revenue Disaggregation of Revenue The following table presents a summary of revenue: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2023 2022 2023 2022 Subscription revenue $ 183,268 $ 156,764 $ 531,133 $ 446,257 Perpetual license and maintenance revenue 12,200 12,658 36,535 38,214 Professional services and other revenue 6,061 5,429 17,736 14,089 Revenue $ 201,529 $ 174,851 $ 585,404 $ 498,560 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 93% of revenue through our channel network in the three and nine months ended September 30, 2023 and 92% of revenue through our channel network in the three and nine months ended September 30, 2022. One of our distributors accounted for 36% of revenue in the three and nine months ended September 30, 2023 and 38% of revenue in the three and nine months ended September 30, 2022. That same distributor accounted for 37% and 36% of accounts receivable at September 30, 2023 and December 31, 2022, 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 September 30, 2023 and 2022 and the nine months ended September 30, 2023 and 2022, we recognized revenue of $185.9 million, $156.3 million, $430.8 million and $350.6 million, respectively, that was included in the deferred revenue balance at the beginning of each of the respective periods. Remaining Performance Obligations At September 30, 2023, the future estimated revenue related to unsatisfied performance obligations was $697.2 million, of which $528.4 million is expected to be recognized as revenue over the next 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: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2023 2022 2023 2022 Beginning balance $ 109,582 $ 100,000 $ 111,508 $ 99,949 Capitalization of contract acquisition costs 14,527 12,837 36,819 35,240 Amortization of deferred contract acquisition costs (12,565) (11,561) (36,783) (33,913) Ending balance $ 111,544 $ 101,276 $ 111,544 $ 101,276

Cash Equivalents and Short-Term

Cash Equivalents and Short-Term Investments	9 Months Ended
	Sep. 30, 2023
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: September 30, 2023 (in thousands) Amortized Cost Unrealized Gain Unrealized Loss Estimated Fair Value Cash equivalents Money market funds $ 103,979 $ — $ — $ 103,979 Total cash equivalents $ 103,979 $ — $ — $ 103,979 Short-term investments Commercial paper $ 86,244 $ — $ (32) $ 86,212 Corporate bonds 54,769 — (264) 54,505 Asset backed securities 16,410 — (52) 16,358 Certificates of deposit 10,000 — — 10,000 Yankee bonds 6,893 — (59) 6,834 U.S. Treasury and agency obligations 73,882 11 (144) 73,749 Total short-term investments $ 248,198 $ 11 $ (551) $ 247,658 December 31, 2022 (in thousands) Amortized Cost Unrealized Gain Unrealized Loss Estimated Fair Value Cash equivalents Money market funds $ 201,476 $ — $ — $ 201,476 Total cash equivalents $ 201,476 $ — $ — $ 201,476 Short-term investments Commercial paper $ 144,093 $ 2 $ (377) $ 143,718 Corporate bonds 37,778 — (194) 37,584 Asset backed securities 19,723 11 (161) 19,573 Certificates of deposit 10,000 — — 10,000 Supranational bonds 4,017 — (67) 3,950 U.S. Treasury and agency obligations 52,309 — (565) 51,744 Total short-term investments $ 267,920 $ 13 $ (1,364) $ 266,569 We considered the extent to which any unrealized losses on our short-term investments were driven by credit risk and other factors, including market risk, and if it is more-likely-than-not that we would have to sell the security before the recovery of the amortized cost basis. At September 30, 2023 and December 31, 2022, our unrealized losses were due to rising market interest rates compared to when the investments were initiated. We do not believe any unrealized losses represent credit losses, and it is unlikely we would sell the investments before we would recover their amortized cost basis. The contractual maturities of our short-term investments are as follows: September 30, 2023 December 31, 2022 (in thousands) Amortized Cost Estimated Fair Value Amortized Cost Estimated Fair Value Due within one year $ 232,140 $ 231,721 $ 243,430 $ 242,129 Due between one and two years 16,058 15,937 24,490 24,440 Total short-term investments $ 248,198 $ 247,658 $ 267,920 $ 266,569 At September 30, 2023 and December 31, 2022, cash and cash equivalents included $5.8 million of restricted cash primarily related to collateral for our outstanding letters of credit.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2023
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: September 30, 2023 (in thousands) Level 1 Level 2 Level 3 Total Cash equivalents Money market funds $ 103,979 $ — $ — $ 103,979 Total cash equivalents $ 103,979 $ — $ — $ 103,979 Short-term investments Commercial paper $ — $ 86,212 $ — $ 86,212 Corporate bonds — 54,505 — 54,505 Asset backed securities — 16,358 — 16,358 Certificates of deposit — 10,000 — 10,000 Yankee bonds — 6,834 — 6,834 U.S. Treasury and agency obligations — 73,749 — 73,749 Total short-term investments $ — $ 247,658 $ — $ 247,658 December 31, 2022 (in thousands) Level 1 Level 2 Level 3 Total Cash equivalents Money market funds $ 201,476 $ — $ — $ 201,476 Total cash equivalents $ 201,476 $ — $ — $ 201,476 Short-term investments Commercial paper $ — $ 143,718 $ — $ 143,718 Corporate bonds — 37,584 — 37,584 Asset backed securities — 19,573 — 19,573 Certificates of deposit — 10,000 — 10,000 Supranational bonds — 3,950 — 3,950 U.S. Treasury and agency obligations — 51,744 — 51,744 Total short-term investments $ — $ 266,569 $ — $ 266,569 At September 30, 2023 and December 31, 2022, we had $10.0 million and $15.0 million, respectively, of non-marketable simple agreements for future equity ("SAFE") investments with privately held companies, which are included in other assets on our consolidated balance sheets. We record our SAFE investments at cost, less any impairment, plus or minus observable price changes for similar investments of the same issuer. During the three months ended September 30, 2023, we identified impairment indicators for one of our SAFE investments and determined our investment was impaired, resulting in an impairment loss of $5.0 million that was recorded in other expense, net on our consolidated statement of operations. We did not have any liabilities measured and recorded at fair value on a recurring basis at September 30, 2023 and December 31, 2022.

Property and Equipment, Net

Property and Equipment, Net	9 Months Ended
	Sep. 30, 2023
Property, Plant and Equipment [Abstract]
Property and Equipment, Net	Property and Equipment, Net Property and equipment, net consisted of the following: (in thousands) September 30, 2023 December 31, 2022 Computer software and equipment $ 22,247 $ 22,424 Internally developed software 29,362 23,479 Furniture and fixtures 5,949 5,940 Leasehold improvements 28,532 28,214 Total 86,090 80,057 Less: accumulated depreciation and amortization (42,014) (33,331) Property and equipment, net $ 44,076 $ 46,726 Depreciation and amortization related to property and equipment was $3.2 million, $2.7 million, $9.7 million and $7.6 million in the three months ended September 30, 2023 and 2022 and the nine months ended September 30, 2023 and 2022, respectively.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	9 Months Ended
	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible AssetsAt September 30, 2023 and December 31, 2022, our goodwill balance was $316.5 million. Acquired intangible assets subject to amortization are as follows: September 30, 2023 December 31, 2022 (in thousands) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Acquired technology $ 97,037 $ (30,868) $ 66,169 $ 97,037 $ (21,738) $ 75,299 Trade name 490 (490) — 490 (413) 77 $ 97,527 $ (31,358) $ 66,169 $ 97,527 $ (22,151) $ 75,376 Amortization of acquired intangible assets was $3.0 million, $3.1 million, $9.2 million and $8.3 million in the three months ended September 30, 2023 and 2022 and the nine months ended September 30, 2023 and 2022, respectively. At September 30, 2023, our acquired intangible assets are expected to be amortized over an estimated remaining weighted average period of 6.0 years. At September 30, 2023, estimated future amortization of acquired intangible assets is as follows: (in thousands) Year ending December 31, 2023 (1) $ 3,044 2024 12,175 2025 12,175 2026 11,990 2027 9,960 Thereafter 16,825 Total $ 66,169 _______________ (1) Represents the three months ending December 31, 2023.

Leases

Leases	9 Months Ended
	Sep. 30, 2023
Leases [Abstract]
Leases	Leases We have operating leases for office facilities. The components of lease expense were as follows: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2023 2022 2023 2022 Operating lease cost $ 1,900 $ 1,977 $ 5,690 $ 5,564 Rent expense for short-term leases in the three and nine months ended September 30, 2023 and 2022 was not material. Supplemental information related to leases was as follows: September 30, 2023 December 31, 2022 Operating leases Weighted average remaining lease term 7.6 years 8.2 years Weighted average discount rate 5.6% 5.6% Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2023 2022 2023 2022 ROU assets obtained in exchange for lease obligations Operating leases $ — $ 3,863 $ 1,234 $ 4,256 Maturities of operating lease liabilities at September 30, 2023 were as follows: (in thousands) Year ending December 31, 2023 (1) $ 1,890 2024 8,934 2025 9,476 2026 8,821 2027 8,359 Thereafter 30,790 Total lease payments 68,270 Less: Imputed interest (13,233) Total $ 55,037 _______________ (1) Represents the three months ending December 31, 2023.

Debt

Debt	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
Debt	Debt Credit Agreement 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"). The table below summarizes the carrying value of the Term Loan: (in thousands) September 30, 2023 Term loan $ 368,438 Less: Unamortized debt discount and issuance costs (5,807) Term loan, net of issuance costs 362,631 Less: Term loan, net, current (1) (2,690) Term loan, net of issuance costs (net of current portion) $ 359,941 _______________ (1) Term loan, net current is included in other current liabilities on our consolidated balance sheets. On June 1, 2023, we began using the Secured Overnight Financing Rate ("SOFR") instead of LIBOR. The Term Loan bears interest at a rate of 2.75% per annum over SOFR, subject to a 0.50% floor, plus a credit spread adjustment depending on the interest period. The Term Loan is being amortized at 1% per annum in equal quarterly installments until the final payment of $350.6 million on the July 7, 2028 maturity date. Our Term Loan is recorded at its carrying value. At September 30, 2023, the fair value of our Term Loan was approximately $367.5 million. In the fair value hierarchy, our Term Loan is classified as Level 2 as it is traded in less active markets. The maturities of the Term Loan at September 30, 2023 were as follows: (in thousands) Year ending December 31, 2023 (1) $ 938 2024 3,750 2025 3,750 2026 3,750 2027 3,750 Thereafter 352,500 Total $ 368,438 _______________ (1) Represents the three months ending December 31, 2023. We may be subject to mandatory Term Loan prepayments related to the excess cash flow provisions. These prepayments would only be required if our first lien net leverage ratio (as defined in our Credit Agreement) exceeds 3.5 at the end of each year. At September 30, 2023, our first lien net leverage ratio was 1.21. The Revolving Credit Facility bears interest at a rate, depending on first lien net leverage, ranging from 2.00% to 2.50% over SOFR and matures on July 7, 2026. Additionally, we pay a commitment fee during the term 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 Revolving Credit Facility contains a $15.0 million letter of credit sublimit. At September 30, 2023, we had $0.2 million of standby letters of credit outstanding under our Revolving Credit Facility related to one of our operating leases. At September 30, 2023, we were in compliance with the covenants under the Credit Agreement.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Commitments In July 2021, we entered into a contract with Amazon Web Services, Inc. ("AWS") 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 one, two and three, respectively, for a total of $140.6 million. If we do not meet the minimum purchase obligation during any of those years, we will be required to pay the difference. We met our commitments for both the first and second years of our contract with AWS, and as of September 30, 2023, we have spent $12.9 million of our third year commitment. Letters of Credit At September 30, 2023, we had $5.7 million of standby letters of credit related to our grant agreements with the State of Maryland and our operating leases.

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based CompensationUnder the evergreen provision in our 2018 Equity Incentive Plan, in January 2023 we reserved an additional 5.7 million shares of our common stock. At September 30, 2023, there were 24.0 million shares available for grant. Stock-based compensation expense included in the consolidated statements of operations was as follows: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2023 2022 2023 2022 Cost of revenue $ 3,011 $ 2,341 $ 8,542 $ 5,968 Sales and marketing 15,805 13,589 46,622 36,420 Research and development 9,242 8,754 27,871 23,294 General and administrative 8,777 7,959 25,777 24,272 Total stock-based compensation expense $ 36,835 $ 32,643 $ 108,812 $ 89,954 At September 30, 2023, the unrecognized stock-based compensation expense related to unvested restricted stock units ("RSUs") was $282.4 million, which is expected to be recognized over an estimated remaining weighted average period of 2.6 years. At September 30, 2023, the unrecognized stock-based compensation expense related to unvested performance stock units ("PSUs") was $7.4 million, which is expected to be recognized over an estimated remaining weighted average period of 3.1 years. At September 30, 2023, the unrecognized stock-based compensation expense related to our 2018 Employee Stock Purchase Plan ("2018 ESPP") was $7.4 million, which is expected to be recognized over an estimated weighted average period of 0.6 years. RSUs and PSUs A summary of our RSU and PSU activity is presented below: RSUs PSUs (in thousands, except for per share data) Number Weighted Number Weighted Unvested balance at December 31, 2022 6,894 $ 43.26 196 $ 44.97 Granted 3,491 43.19 188 43.24 Performance adjustment (1) — — 12 44.97 Vested (2,541) 41.86 (78) 44.97 Forfeited (501) 45.16 — — Unvested balance at September 30, 2023 7,343 43.58 318 43.95 _______________ (1) Represents adjustments due to the achievement of predefined financial performance targets. 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, 2022 5,485 $ 8.96 4.5 $ 160,135 Granted — — Exercised (289) 8.38 10,265 Forfeited/canceled — — Outstanding and exercisable at September 30, 2023 5,196 8.99 3.7 186,092 2018 Employee Stock Purchase Plan Under the evergreen provision in our 2018 ESPP, in January 2023 we reserved an additional 1.7 million shares of our common stock. At September 30, 2023, there were 8.7 million shares reserved for issuance under our 2018 ESPP. In the nine months ended September 30, 2023, employees purchased 506,390 shares of our common stock at a weighted average price of $32.04 per share, resulting in $16.2 million of cash proceeds. At September 30, 2023, there was $4.3 million of employee contributions to the 2018 ESPP included in accrued compensation. 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: Nine Months Ended September 30, 2023 2022 Expected term (in years) 0.5 — 2.0 0.5 — 2.0 Expected volatility 46.9% — 58.1% 42.8% — 61.0% Risk-free interest rate 4.8% — 5.4% 0.1% — 3.4% Expected dividend yield — —

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes In the nine months ended September 30, 2023, the provision for income taxes included $4.3 million of income taxes in foreign jurisdictions in which we conduct business and $2.8 million of discrete items primarily related to withholding taxes on sales to customers, partially offset by $0.2 million of deferred tax benefits related to the Alsid acquisition. In the nine months ended September 30, 2022, the provision for income taxes included $3.1 million of income taxes in foreign jurisdictions in which we conduct business, $2.1 million of current expense from the restructuring of our research and development operations in Israel, partially offset by $1.8 million of deferred tax benefits related to the Alsid acquisition. Additionally, the provision included $1.7 million of discrete items primarily related to withholding taxes on sales to customers, which was more than offset by a benefit of $2.5 million from partially releasing the valuation allowance associated with the Bit Discovery acquisition.

Net Loss Per Share

Net Loss Per Share	9 Months Ended
	Sep. 30, 2023
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 September 30, Nine Months Ended September 30, (in thousands, except per share data) 2023 2022 2023 2022 Net loss $ (15,565) $ (18,730) $ (56,636) $ (70,735) Weighted-average shares used to compute net loss per share, basic and diluted 115,954 111,937 114,967 110,843 Net loss per share, basic and diluted $ (0.13) $ (0.17) $ (0.49) $ (0.64) The following potentially dilutive securities have been excluded from the diluted per share calculations because they would have been antidilutive: September 30, (in thousands) 2023 2022 RSUs 7,343 7,515 Stock options 5,196 5,569 Shares to be issued under the 2018 ESPP 128 58 PSUs 130 — Total 12,797 13,142

Geographic Information

Geographic Information	9 Months Ended
	Sep. 30, 2023
Segment Reporting [Abstract]
Geographic Information	Geographic Information We 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 September 30, Nine Months Ended September 30, (in thousands) 2023 2022 2023 2022 The Americas $ 127,016 $ 111,227 $ 368,510 $ 315,706 Europe, Middle East and Africa 51,397 44,117 150,437 128,779 Asia Pacific 23,116 19,507 66,457 54,075 Revenue $ 201,529 $ 174,851 $ 585,404 $ 498,560 Customers located in the United States accounted for 55% of revenue in the three and nine months ended September 30, 2023 and 57% of revenue in the three and nine months ended September 30, 2022. 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) September 30, 2023 December 31, 2022 United States $ 38,610 $ 39,843 International 5,466 6,883 Property and equipment, net $ 44,076 $ 46,726

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2023
Subsequent Events [Abstract]
Subsequent Events	Subsequent EventsIn October 2023, we acquired Ermetic Ltd. ("Ermetic"). Ermetic is an innovative cloud-native application protection platform company and a leading provider of cloud infrastructure entitlement management. This acquisition will add capabilities to our Tenable One Exposure Management Platform and Tenable Cloud Security solution to deliver contextual risk visibility, prioritization and remediation across infrastructure and identities, both on-premises and in the cloud. We acquired Ermetic for a total purchase price of approximately $244 million, subject to customary purchase price adjustments.

Business and Summary of Signi_2

Business and Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2023
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 and have been prepared in conformity with United States generally accepted accounting principles (“GAAP”) for interim financial information. All intercompany accounts and transactions have been eliminated in consolidation.
Basis of Accounting	The consolidated statements are unaudited and should be read in conjunction with the consolidated financial statements and related notes included in our 2022 Annual Report on Form 10-K ("10-K") filed with the Securities and Exchange Commission on February 24, 2023. 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, the valuation of stock-based compensation, the incremental borrowing rate for operating leases, and the valuation of deferred tax assets and investments. 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 (Tables)

Revenue (Tables)	9 Months Ended
	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Schedule of Revenue	The following table presents a summary of revenue: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2023 2022 2023 2022 Subscription revenue $ 183,268 $ 156,764 $ 531,133 $ 446,257 Perpetual license and maintenance revenue 12,200 12,658 36,535 38,214 Professional services and other revenue 6,061 5,429 17,736 14,089 Revenue $ 201,529 $ 174,851 $ 585,404 $ 498,560
Schedule of Activity of Deferred Contract Costs	The following summarizes the activity of deferred incremental costs of obtaining a contract: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2023 2022 2023 2022 Beginning balance $ 109,582 $ 100,000 $ 111,508 $ 99,949 Capitalization of contract acquisition costs 14,527 12,837 36,819 35,240 Amortization of deferred contract acquisition costs (12,565) (11,561) (36,783) (33,913) Ending balance $ 111,544 $ 101,276 $ 111,544 $ 101,276

Cash Equivalents and Short-Te_2

Cash Equivalents and Short-Term Investments (Tables)	9 Months Ended
	Sep. 30, 2023
Cash and Cash Equivalents [Abstract]
Schedule 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: September 30, 2023 (in thousands) Amortized Cost Unrealized Gain Unrealized Loss Estimated Fair Value Cash equivalents Money market funds $ 103,979 $ — $ — $ 103,979 Total cash equivalents $ 103,979 $ — $ — $ 103,979 Short-term investments Commercial paper $ 86,244 $ — $ (32) $ 86,212 Corporate bonds 54,769 — (264) 54,505 Asset backed securities 16,410 — (52) 16,358 Certificates of deposit 10,000 — — 10,000 Yankee bonds 6,893 — (59) 6,834 U.S. Treasury and agency obligations 73,882 11 (144) 73,749 Total short-term investments $ 248,198 $ 11 $ (551) $ 247,658 December 31, 2022 (in thousands) Amortized Cost Unrealized Gain Unrealized Loss Estimated Fair Value Cash equivalents Money market funds $ 201,476 $ — $ — $ 201,476 Total cash equivalents $ 201,476 $ — $ — $ 201,476 Short-term investments Commercial paper $ 144,093 $ 2 $ (377) $ 143,718 Corporate bonds 37,778 — (194) 37,584 Asset backed securities 19,723 11 (161) 19,573 Certificates of deposit 10,000 — — 10,000 Supranational bonds 4,017 — (67) 3,950 U.S. Treasury and agency obligations 52,309 — (565) 51,744 Total short-term investments $ 267,920 $ 13 $ (1,364) $ 266,569
Schedule of Contractual Maturities on Short-Term Investments	The contractual maturities of our short-term investments are as follows: September 30, 2023 December 31, 2022 (in thousands) Amortized Cost Estimated Fair Value Amortized Cost Estimated Fair Value Due within one year $ 232,140 $ 231,721 $ 243,430 $ 242,129 Due between one and two years 16,058 15,937 24,490 24,440 Total short-term investments $ 248,198 $ 247,658 $ 267,920 $ 266,569

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2023
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: September 30, 2023 (in thousands) Level 1 Level 2 Level 3 Total Cash equivalents Money market funds $ 103,979 $ — $ — $ 103,979 Total cash equivalents $ 103,979 $ — $ — $ 103,979 Short-term investments Commercial paper $ — $ 86,212 $ — $ 86,212 Corporate bonds — 54,505 — 54,505 Asset backed securities — 16,358 — 16,358 Certificates of deposit — 10,000 — 10,000 Yankee bonds — 6,834 — 6,834 U.S. Treasury and agency obligations — 73,749 — 73,749 Total short-term investments $ — $ 247,658 $ — $ 247,658 December 31, 2022 (in thousands) Level 1 Level 2 Level 3 Total Cash equivalents Money market funds $ 201,476 $ — $ — $ 201,476 Total cash equivalents $ 201,476 $ — $ — $ 201,476 Short-term investments Commercial paper $ — $ 143,718 $ — $ 143,718 Corporate bonds — 37,584 — 37,584 Asset backed securities — 19,573 — 19,573 Certificates of deposit — 10,000 — 10,000 Supranational bonds — 3,950 — 3,950 U.S. Treasury and agency obligations — 51,744 — 51,744 Total short-term investments $ — $ 266,569 $ — $ 266,569

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	9 Months Ended
	Sep. 30, 2023
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment, Net	Property and equipment, net consisted of the following: (in thousands) September 30, 2023 December 31, 2022 Computer software and equipment $ 22,247 $ 22,424 Internally developed software 29,362 23,479 Furniture and fixtures 5,949 5,940 Leasehold improvements 28,532 28,214 Total 86,090 80,057 Less: accumulated depreciation and amortization (42,014) (33,331) Property and equipment, net $ 44,076 $ 46,726

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Acquired Intangible Assets Subject to Amortization	Acquired intangible assets subject to amortization are as follows: September 30, 2023 December 31, 2022 (in thousands) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Acquired technology $ 97,037 $ (30,868) $ 66,169 $ 97,037 $ (21,738) $ 75,299 Trade name 490 (490) — 490 (413) 77 $ 97,527 $ (31,358) $ 66,169 $ 97,527 $ (22,151) $ 75,376
Schedule of Future Amortization of Intangible Assets	At September 30, 2023, estimated future amortization of acquired intangible assets is as follows: (in thousands) Year ending December 31, 2023 (1) $ 3,044 2024 12,175 2025 12,175 2026 11,990 2027 9,960 Thereafter 16,825 Total $ 66,169 _______________ (1) Represents the three months ending December 31, 2023.

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2023
Leases [Abstract]
Schedule of Components of Lease Expense and Supplemental Information	The components of lease expense were as follows: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2023 2022 2023 2022 Operating lease cost $ 1,900 $ 1,977 $ 5,690 $ 5,564 Supplemental information related to leases was as follows: September 30, 2023 December 31, 2022 Operating leases Weighted average remaining lease term 7.6 years 8.2 years Weighted average discount rate 5.6% 5.6% Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2023 2022 2023 2022 ROU assets obtained in exchange for lease obligations Operating leases $ — $ 3,863 $ 1,234 $ 4,256
Schedule of Maturities of Operating Lease Liabilities	Maturities of operating lease liabilities at September 30, 2023 were as follows: (in thousands) Year ending December 31, 2023 (1) $ 1,890 2024 8,934 2025 9,476 2026 8,821 2027 8,359 Thereafter 30,790 Total lease payments 68,270 Less: Imputed interest (13,233) Total $ 55,037 _______________ (1) Represents the three months ending December 31, 2023.

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
Schedule of Carrying Value of Term Loan	The table below summarizes the carrying value of the Term Loan: (in thousands) September 30, 2023 Term loan $ 368,438 Less: Unamortized debt discount and issuance costs (5,807) Term loan, net of issuance costs 362,631 Less: Term loan, net, current (1) (2,690) Term loan, net of issuance costs (net of current portion) $ 359,941 _______________ (1) Term loan, net current is included in other current liabilities on our consolidated balance sheets.
Schedule of Maturities of Term Loan	The maturities of the Term Loan at September 30, 2023 were as follows: (in thousands) Year ending December 31, 2023 (1) $ 938 2024 3,750 2025 3,750 2026 3,750 2027 3,750 Thereafter 352,500 Total $ 368,438 _______________ (1) Represents the three months ending December 31, 2023.

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of Stock-based Compensation Expense	Stock-based compensation expense included in the consolidated statements of operations was as follows: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2023 2022 2023 2022 Cost of revenue $ 3,011 $ 2,341 $ 8,542 $ 5,968 Sales and marketing 15,805 13,589 46,622 36,420 Research and development 9,242 8,754 27,871 23,294 General and administrative 8,777 7,959 25,777 24,272 Total stock-based compensation expense $ 36,835 $ 32,643 $ 108,812 $ 89,954
Schedule of RSUs and PSUs	A summary of our RSU and PSU activity is presented below: RSUs PSUs (in thousands, except for per share data) Number Weighted Number Weighted Unvested balance at December 31, 2022 6,894 $ 43.26 196 $ 44.97 Granted 3,491 43.19 188 43.24 Performance adjustment (1) — — 12 44.97 Vested (2,541) 41.86 (78) 44.97 Forfeited (501) 45.16 — — Unvested balance at September 30, 2023 7,343 43.58 318 43.95 _______________ (1) Represents adjustments due to the achievement of predefined financial performance targets.
Schedule of 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, 2022 5,485 $ 8.96 4.5 $ 160,135 Granted — — Exercised (289) 8.38 10,265 Forfeited/canceled — — Outstanding and exercisable at September 30, 2023 5,196 8.99 3.7 186,092
Schedule of 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: Nine Months Ended September 30, 2023 2022 Expected term (in years) 0.5 — 2.0 0.5 — 2.0 Expected volatility 46.9% — 58.1% 42.8% — 61.0% Risk-free interest rate 4.8% — 5.4% 0.1% — 3.4% Expected dividend yield — —

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Schedule of 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 September 30, Nine Months Ended September 30, (in thousands, except per share data) 2023 2022 2023 2022 Net loss $ (15,565) $ (18,730) $ (56,636) $ (70,735) Weighted-average shares used to compute net loss per share, basic and diluted 115,954 111,937 114,967 110,843 Net loss per share, basic and diluted $ (0.13) $ (0.17) $ (0.49) $ (0.64)
Schedule of Potentially Dilutive Securities	The following potentially dilutive securities have been excluded from the diluted per share calculations because they would have been antidilutive: September 30, (in thousands) 2023 2022 RSUs 7,343 7,515 Stock options 5,196 5,569 Shares to be issued under the 2018 ESPP 128 58 PSUs 130 — Total 12,797 13,142

Geographic Information (Tables)

Geographic Information (Tables)	9 Months Ended
	Sep. 30, 2023
Segment Reporting [Abstract]
Schedule of 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 September 30, Nine Months Ended September 30, (in thousands) 2023 2022 2023 2022 The Americas $ 127,016 $ 111,227 $ 368,510 $ 315,706 Europe, Middle East and Africa 51,397 44,117 150,437 128,779 Asia Pacific 23,116 19,507 66,457 54,075 Revenue $ 201,529 $ 174,851 $ 585,404 $ 498,560
Schedule of Property and Equipment, Net by Geographic Area	Our property and equipment, net by geographic area is summarized as follows: (in thousands) September 30, 2023 December 31, 2022 United States $ 38,610 $ 39,843 International 5,466 6,883 Property and equipment, net $ 44,076 $ 46,726

Revenue - Schedule of Revenue (

Revenue - Schedule of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Disaggregation of Revenue [Line Items]
Revenue	$ 201,529	$ 174,851	$ 585,404	$ 498,560
Subscription revenue
Disaggregation of Revenue [Line Items]
Revenue	183,268	156,764	531,133	446,257
Perpetual license and maintenance revenue
Disaggregation of Revenue [Line Items]
Revenue	12,200	12,658	36,535	38,214
Professional services and other revenue
Disaggregation of Revenue [Line Items]
Revenue	$ 6,061	$ 5,429	$ 17,736	$ 14,089

Revenue - Concentrations (Detai

Revenue - Concentrations (Details)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Revenue | Customer Concentration Risk | One Distributor
Concentration Risk [Line Items]
Concentration risk, percentage	36%	38%	36%	38%
Accounts Receivable | Customer Concentration Risk | One Distributor
Concentration Risk [Line Items]
Concentration risk, percentage			37%		36%
Channel Network | Revenue | Sales Method Risk
Concentration Risk [Line Items]
Concentration risk, percentage	93%	92%	93%	92%

Revenue - Contract Balances (De

Revenue - Contract Balances (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Revenue from Contract with Customer [Abstract]
Revenue recognized that was included in deferred revenue	$ 185.9	$ 156.3	$ 430.8	$ 350.6

Revenue - Remaining Performance

Revenue - Remaining Performance Obligations (Details) $ in Millions	Sep. 30, 2023 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Future estimated revenue	$ 697.2
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Future estimated revenue	$ 528.4
Expected timing of satisfaction	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-10-01
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		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Capitalized Contract Cost [Roll Forward]
Beginning balance	$ 109,582	$ 100,000	$ 111,508	$ 99,949
Capitalization of contract acquisition costs	14,527	12,837	36,819	35,240
Amortization of deferred contract acquisition costs	(12,565)	(11,561)	(36,783)	(33,913)
Ending balance	$ 111,544	$ 101,276	$ 111,544	$ 101,276

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	Sep. 30, 2023	Dec. 31, 2022
Cash and Cash Equivalents [Line Items]
Cash equivalents	$ 103,979	$ 201,476
Amortized Cost	248,198	267,920
Unrealized Gain	11	13
Unrealized Loss	(551)	(1,364)
Estimated Fair Value	247,658	266,569
Commercial paper
Cash and Cash Equivalents [Line Items]
Estimated Fair Value	86,212	143,718
Corporate bonds
Cash and Cash Equivalents [Line Items]
Amortized Cost	54,769	37,778
Unrealized Gain	0	0
Unrealized Loss	(264)	(194)
Estimated Fair Value	54,505	37,584
Asset backed securities
Cash and Cash Equivalents [Line Items]
Amortized Cost	16,410	19,723
Unrealized Gain	0	11
Unrealized Loss	(52)	(161)
Estimated Fair Value	16,358	19,573
Certificates of deposit
Cash and Cash Equivalents [Line Items]
Amortized Cost	10,000	10,000
Unrealized Gain	0	0
Unrealized Loss	0	0
Estimated Fair Value	10,000	10,000
Yankee bonds
Cash and Cash Equivalents [Line Items]
Amortized Cost	6,893
Unrealized Gain	0
Unrealized Loss	(59)
Estimated Fair Value	6,834
Supranational bonds
Cash and Cash Equivalents [Line Items]
Amortized Cost		4,017
Unrealized Gain		0
Unrealized Loss		(67)
Estimated Fair Value		3,950
U.S. Treasury and agency obligations
Cash and Cash Equivalents [Line Items]
Amortized Cost	73,882	52,309
Unrealized Gain	11	0
Unrealized Loss	(144)	(565)
Estimated Fair Value	73,749	51,744
Total cash equivalents
Cash and Cash Equivalents [Line Items]
Cash equivalents	103,979	201,476
Money market funds
Cash and Cash Equivalents [Line Items]
Cash equivalents	103,979	201,476
Commercial paper
Cash and Cash Equivalents [Line Items]
Amortized Cost	86,244	144,093
Unrealized Gain	0	2
Unrealized Loss	(32)	(377)
Estimated Fair Value	$ 86,212	$ 143,718

Cash Equivalents and Short-Te_4

Cash Equivalents and Short-Term Investments - Contractual Maturities on Short-Term Investments (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Cash and Cash Equivalents [Abstract]
Amortized Cost, Due within on year	$ 232,140	$ 243,430
Amortized Cost, Due between one and two years	16,058	24,490
Amortized Cost	248,198	267,920
Estimated Fair Value, Due within one year	231,721	242,129
Estimated Fair Value, Due between one and two years	15,937	24,440
Estimated Fair Value	$ 247,658	$ 266,569

Cash Equivalents and Short-Te_5

Cash Equivalents and Short-Term Investments - Narrative (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Collateral For Letters of Credit
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	$ 5.8	$ 5.8

Fair Value Measurements - Asset

Fair Value Measurements - Assets Measured At Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	$ 103,979	$ 201,476
Short-term investments	247,658	266,569
Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	86,212	143,718
Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	54,505	37,584
Asset backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	16,358	19,573
Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	10,000	10,000
Yankee bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	6,834
Supranational bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments		3,950
U.S. Treasury and agency obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	73,749	51,744
Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	103,979	201,476
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	103,979	201,476
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 | Asset backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	0	0
Level 1 | Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	0	0
Level 1 | Yankee bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	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	103,979	201,476
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Short-term investments	247,658	266,569
Level 2 | Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	86,212	143,718
Level 2 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	54,505	37,584
Level 2 | Asset backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	16,358	19,573
Level 2 | Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	10,000	10,000
Level 2 | Yankee bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	6,834
Level 2 | Supranational bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments		3,950
Level 2 | U.S. Treasury and agency obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	73,749	51,744
Level 2 | Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
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 | Asset backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	0	0
Level 3 | Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	0	0
Level 3 | Yankee bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	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

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Fair Value Disclosures [Abstract]
SAFE investments, carrying value	$ 10	$ 15
Impairment charges	$ 5

Property and Equipment, Net - S

Property and Equipment, Net - Schedule of Property and Equipment, Net (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Total	$ 86,090	$ 80,057
Less: accumulated depreciation and amortization	(42,014)	(33,331)
Property and equipment, net	44,076	46,726
Computer software and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	22,247	22,424
Internally developed software
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	29,362	23,479
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	5,949	5,940
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 28,532	$ 28,214

Property and Equipment, Net - N

Property and Equipment, Net - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Property, Plant and Equipment [Abstract]
Depreciation and amortization	$ 3.2	$ 2.7	$ 9.7	$ 7.6

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 316,520		$ 316,520		$ 316,520
Amortization of acquired intangible assets	$ 3,000	$ 3,100	$ 9,200	$ 8,300
Estimated useful life			6 years

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Schedule of Acquired Intangible Assets Subject to Amortization (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 97,527	$ 97,527
Accumulated Amortization	(31,358)	(22,151)
Total	66,169	75,376
Acquired technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	97,037	97,037
Accumulated Amortization	(30,868)	(21,738)
Total	66,169	75,299
Trade name
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	490	490
Accumulated Amortization	(490)	(413)
Total	$ 0	$ 77

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Schedule of Future Amortization of Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets, Amortization Expense, Maturity Schedule [Abstract]
2023	$ 3,044
2024	12,175
2025	12,175
2026	11,990
2027	9,960
Thereafter	16,825
Total	$ 66,169	$ 75,376

Leases - Components of Lease Ex

Leases - Components of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Leases [Abstract]
Operating lease cost	$ 1,900	$ 1,977	$ 5,690	$ 5,564

Leases - Supplemental Informati

Leases - Supplemental Information Related to Leases (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Operating leases
Weighted average remaining lease term (in years)	7 years 7 months 6 days		7 years 7 months 6 days		8 years 2 months 12 days
Weighted average discount rate	5.60%		5.60%		5.60%
ROU assets obtained in exchange for lease obligations, Operating leases	$ 0	$ 3,863	$ 1,234	$ 4,256

Leases - Operating Lease Liabil

Leases - Operating Lease Liability Maturities (Details) $ in Thousands	Sep. 30, 2023 USD ($)
Leases [Abstract]
2023	$ 1,890
2024	8,934
2025	9,476
2026	8,821
2027	8,359
Thereafter	30,790
Total lease payments	68,270
Less: Imputed interest	(13,233)
Total	$ 55,037

Debt- Narrative (Details)

Debt- Narrative (Details)		1 Months Ended
	Jun. 01, 2023	Jul. 31, 2021 USD ($)	Sep. 30, 2023 USD ($)
Line of Credit Facility [Line Items]
Standby letters of credit			$ 5,700,000
Secured Debt
Line of Credit Facility [Line Items]
Credit facility, maximum borrowing capacity		$ 375,000,000
Annual amortization amount, percent		1%
Final payment to be paid at maturity		$ 350,600,000
Fair value of term loan			$ 367,500,000
Secured Debt | Credit Agreement
Line of Credit Facility [Line Items]
Debt instrument, leverage ratio, maximum			3.5
Debt instrument, leverage ratio			1.21
Secured Debt | Secured Overnight Financing Rate
Line of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate	2.75%
Debt instrument, basis spread on variable rate, variable rate floor	0.50%
Revolving Credit Facility
Line of Credit Facility [Line Items]
Credit facility, maximum borrowing capacity		$ 50,000,000
Standby letters of credit			$ 200,000
Revolving Credit Facility | Credit Agreement | Minimum
Line of Credit Facility [Line Items]
Unused capacity, commitment fee percentage		0.25%
Revolving Credit Facility | Credit Agreement | Maximum
Line of Credit Facility [Line Items]
Unused capacity, commitment fee percentage		0.375%
Revolving Credit Facility | Secured Overnight Financing Rate | Minimum
Line of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate	2%
Revolving Credit Facility | Secured Overnight Financing Rate | Maximum
Line of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate	2.50%
Letter of Credit
Line of Credit Facility [Line Items]
Credit facility, maximum borrowing capacity		$ 15,000,000

Debt - Carrying Value of Term L

Debt - Carrying Value of Term Loan (Details) $ in Thousands	Sep. 30, 2023 USD ($)
Debt Instrument [Line Items]
Term loan	$ 368,438
Secured Debt
Debt Instrument [Line Items]
Term loan	368,438
Less: Unamortized debt discount and issuance costs	(5,807)
Term loan, net of issuance costs	362,631
Less: Term loan, net, current	(2,690)
Term loan, net of issuance costs (net of current portion)	$ 359,941

Debt - Maturities of Term Loan

Debt - Maturities of Term Loan (Details) $ in Thousands	Sep. 30, 2023 USD ($)
Debt Disclosure [Abstract]
2023	$ 938
2024	3,750
2025	3,750
2026	3,750
2027	3,750
Thereafter	352,500
Total	$ 368,438

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Millions	Sep. 30, 2023	Jul. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Purchase obligation, to be paid, year one		$ 43.7
Purchase obligation, to be paid, year two		46.8
Purchase obligation, to be paid, year three		50.1
Purchase obligation		$ 140.6
Purchase obligation, amount spent, year three	$ 12.9
Standby letters of credit	$ 5.7

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	9 Months Ended
	Jan. 31, 2023	Sep. 30, 2023	Sep. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Proceeds from stock issued in connection with the employee stock purchase plan		$ 16,224	$ 14,791
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized stock-based compensation expense, unvested RSUs or PSUs		$ 282,400
Estimated remaining weighted average period		2 years 7 months 6 days
PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized stock-based compensation expense, unvested RSUs or PSUs		$ 7,400
Estimated remaining weighted average period		3 years 1 month 6 days
Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Additional shares reserved (in shares)	1,700,000
Shares available for grant (in shares)		8,700,000
Estimated remaining weighted average period		7 months 6 days
Unrecognized stock-based compensation expense		$ 7,400
Common stock purchased (in shares)		506,390
Share price (in usd per share)		$ 32.04
Employee contributions		$ 4,300
2018 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Additional shares reserved (in shares)	5,700,000
Shares available for grant (in shares)		24,000,000

Stock-Based Compensation - Stoc

Stock-Based Compensation - Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	$ 36,835	$ 32,643	$ 108,812	$ 89,954
Cost of revenue
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	3,011	2,341	8,542	5,968
Sales and marketing
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	15,805	13,589	46,622	36,420
Research and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	9,242	8,754	27,871	23,294
General and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	$ 8,777	$ 7,959	$ 25,777	$ 24,272

Stock-Based Compensation - RSUs

Stock-Based Compensation - RSUs and PSUs (Details) shares in Thousands	9 Months Ended
	Sep. 30, 2023 $ / shares shares
RSUs
Number of Shares
Number of shares unvested, beginning of period (in shares) | shares	6,894
Number of shares, granted (in shares) | shares	3,491
Number of shares, performance adjustment (in shares) | shares	0
Number of shares, vested (in shares) | shares	(2,541)
Number of shares, forfeited (in shares) | shares	(501)
Number of shares unvested, end of period (in shares) | shares	7,343
Weighted Average Grant Date Fair Value
Weighted average grant date fair value, beginning of period (in usd per share) | $ / shares	$ 43.26
Weighted average grant date fair value, granted (in usd per share) | $ / shares	43.19
Weighted average grant date fair value, performance adjustment (in usd per share) | $ / shares	0
Weighted average grant date fair value, vested (in usd per share) | $ / shares	41.86
Weighted average grant date fair value, forfeited (in usd per share) | $ / shares	45.16
Weighted average grant date fair value, end of period (in usd per share) | $ / shares	$ 43.58
PSUs
Number of Shares
Number of shares unvested, beginning of period (in shares) | shares	196
Number of shares, granted (in shares) | shares	188
Number of shares, performance adjustment (in shares) | shares	12
Number of shares, vested (in shares) | shares	(78)
Number of shares, forfeited (in shares) | shares	0
Number of shares unvested, end of period (in shares) | shares	318
Weighted Average Grant Date Fair Value
Weighted average grant date fair value, beginning of period (in usd per share) | $ / shares	$ 44.97
Weighted average grant date fair value, granted (in usd per share) | $ / shares	43.24
Weighted average grant date fair value, performance adjustment (in usd per share) | $ / shares	44.97
Weighted average grant date fair value, vested (in usd per share) | $ / shares	44.97
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	$ 43.95

Stock-Based Compensation - St_2

Stock-Based Compensation - Stock Option Activity (Details) $ / shares in Units, shares in Thousands, $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2023 USD ($) $ / shares shares	Dec. 31, 2022 USD ($) $ / shares shares
Number of Shares
Number of shares outstanding, beginning of period (in shares) | shares	5,485
Number of shares, granted (in shares) | shares	0
Number of shares, exercised (in shares) | shares	(289)
Number of shares, forfeited/canceled (in shares) | shares	0
Number of shares outstanding, end of period (in shares) | shares	5,196	5,485
Number of shares exercisable (in shares) | shares	5,196
Weighted Average Exercise Price
Weighted average exercise price, outstanding, beginning of period (in usd per share) | $ / shares	$ 8.96
Weighted average exercise price, granted (in usd per share) | $ / shares	0
Weighted average exercise price, exercised (in usd per share) | $ / shares	8.38
Weighted average exercise price, forfeited/canceled (in usd per share) | $ / shares	0
Weighted average exercise price, outstanding, end of period (in usd per share) | $ / shares	8.99	$ 8.96
Weighted average exercise price, exercisable (in usd per share) | $ / shares	$ 8.99
Weighted Average Remaining Contractual Term/ Aggregate Intrinsic Value
Weighted average remaining contractual term (in years), outstanding	3 years 8 months 12 days	4 years 6 months
Weighted average remaining contractual term (in years), exercisable	3 years 8 months 12 days
Aggregate intrinsic value, outstanding | $	$ 186,092	$ 160,135
Aggregate intrinsic value, exercised | $	10,265
Aggregate intrinsic value, exercisable | $	$ 186,092

Stock-Based Compensation - Fair

Stock-Based Compensation - Fair Value Assumptions (Details) - Employee Stock Purchase Plan	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility, minimum	46.90%	42.80%
Expected volatility, maximum	58.10%	61%
Risk-free interest rate, minimum	4.80%	0.10%
Risk-free interest rate, maximum	5.40%	3.40%
Expected dividend yield	0%	0%
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

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Income Tax Examination [Line Items]
Foreign tax expense	$ 4.3	$ 3.1
Discrete expenses	2.8	1.7
Change in valuation allowance		2.5
Alsid SAS
Income Tax Examination [Line Items]
Deferred tax benefit	$ 0.2	1.8
Israel
Income Tax Examination [Line Items]
Income tax expense, research and development		$ 2.1

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		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Earnings Per Share [Abstract]
Net loss	$ (15,565)	$ (18,730)	$ (56,636)	$ (70,735)
Weighted-average shares used to compute net loss per share, basic (in shares)	115,954	111,937	114,967	110,843
Weighted-average shares used to compute net loss per share, diluted (in shares)	115,954	111,937	114,967	110,843
Net loss per share, basic (in usd per share)	$ (0.13)	$ (0.17)	$ (0.49)	$ (0.64)
Net loss per share, diluted (in usd per share)	$ (0.13)	$ (0.17)	$ (0.49)	$ (0.64)

Net Loss Per Share - Schedule o

Net Loss Per Share - Schedule of Potentially Dilutive Securities (Details) - shares shares in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	12,797	13,142
RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	7,343	7,515
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	5,196	5,569
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)	128	58
PSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	130	0

Geographic Information - Narrat

Geographic Information - Narrative (Details) - segment	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Concentration Risk [Line Items]
Number of operating segments			1
United States | Revenue | Geographic Concentration Risk
Concentration Risk [Line Items]
Concentration risk, percentage	55%	57%	55%	57%

Geographic Information - Revenu

Geographic Information - Revenue by Geographic Region (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 201,529	$ 174,851	$ 585,404	$ 498,560
The Americas
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	127,016	111,227	368,510	315,706
Europe, Middle East and Africa
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	51,397	44,117	150,437	128,779
Asia Pacific
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 23,116	$ 19,507	$ 66,457	$ 54,075

Geographic Information - Proper

Geographic Information - Property and Equipment, Net by Geographic Area (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Revenues from External Customers and Long-Lived Assets [Line Items]
Property and equipment, net	$ 44,076	$ 46,726
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Property and equipment, net	38,610	39,843
International
Revenues from External Customers and Long-Lived Assets [Line Items]
Property and equipment, net	$ 5,466	$ 6,883

Subsequent Events (Details)

Subsequent Events (Details) $ in Millions	1 Months Ended
	Oct. 31, 2023 USD ($)
Ermetic, Ltd. | Subsequent Event
Subsequent Event [Line Items]
Total purchase price paid in cash	$ 244