JFrog (FROG) 10-Q 7 May 21 2021 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2021	Apr. 30, 2021
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Entity Registrant Name	JFrog Ltd.
Entity Central Index Key	0001800667
Entity File Number	001-39492
Entity Tax Identification Number	98-0680649
Document Quarterly Report	true
Document Transition Report	false
Entity Incorporation, State or Country Code	L3
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Interactive Data Current	Yes
Entity Current Reporting Status	Yes
Entity Address, Address Line One	270 E. Caribbean Drive
Entity Address, City or Town	Sunnyvale
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94089
City Area Code	(408)
Local Phone Number	329-1540
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Title of 12(b) Security	Ordinary Shares, NIS 0.01 par value
Trading Symbol	FROG
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding		93,517,053

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 146,676	$ 164,461
Short-term investments	458,977	433,595
Accounts receivable, net	51,423	37,048
Deferred contract acquisition costs	3,655	3,247
Prepaid expenses and other current assets	14,430	14,210
Total current assets	675,161	652,561
Property and equipment, net	5,598	4,963
Deferred contract acquisition costs, noncurrent	5,925	4,949
Operating lease right-of-use assets	20,611	0
Intangible assets, net	3,674	4,047
Goodwill	17,320	17,320
Other assets, noncurrent	6,722	5,391
Total assets	735,011	689,231
Current liabilities:
Accounts payable	8,957	9,911
Accrued expenses and other current liabilities	23,777	21,039
Operating lease liabilities	4,876	0
Deferred revenue	102,432	91,750
Total current liabilities	140,042	122,700
Deferred revenue, noncurrent	18,542	11,087
Operating lease liabilities, noncurrent	15,897	0
Other liabilities, noncurrent	1,132	1,550
Total liabilities	175,613	135,337
Commitments and contingencies (Note 10)
Shareholders' equity (deficit):
Preferred shares, NIS 0.01 par value per share; 50,000,000 shares authorized; 0 issued and outstanding as of March 31, 2021 and December 31, 2020	0	0
Ordinary shares, NIS 0.01 par value per share, 500,000,000 shares authorized; 93,467,841 and 92,112,447 shares issued and outstanding as of March 31, 2021 and December 31, 2020, respectively	261	257
Additional paid-in capital	642,090	628,054
Accumulated other comprehensive income (loss)	(269)	372
Accumulated deficit	(82,684)	(74,789)
Total shareholders' equity (deficit)	559,398	553,894
Total liabilities, convertible preferred shares and shareholders' equity (deficit)	$ 735,011	$ 689,231

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - ₪ / shares	Mar. 31, 2021	Dec. 31, 2020
Preferred stock par value	₪ 0.01	₪ 0.01
Preferred stock authorized	50,000,000	50,000,000
Preferred stock issued	0	0
Preferred stock Outstanding	0	0
Common stock par value	₪ 0.01	₪ 0.01
Common stock Authorized	500,000,000	500,000,000
Common stock issued	93,467,841	92,112,447
Common stock Outstanding	93,467,841	92,112,447

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Revenue:
Total subscription revenue	$ 45,087	$ 32,821
Cost of revenue:
Total cost of revenue—subscription	8,427	6,404
Gross profit	36,660	26,417
Operating expenses:
Research and development	13,836	9,295
Sales and marketing	19,765	14,023
General and administrative	13,671	5,198
Total operating expenses	47,272	28,516
Operating loss	(10,612)	(2,099)
Interest and other income, net	360	564
Loss before income taxes	(10,252)	(1,535)
Income tax expense (benefit)	(2,357)	590
Net loss	$ (7,895)	$ (2,125)
Net loss per share attributable to ordinary shareholders, basic and diluted	$ (0.09)	$ (0.08)
Weighted-average shares used in computing net loss per share attributable to ordinary shareholders, basic and diluted	92,679,756	28,154,185
Subscription—self-managed and SaaS
Revenue:
Total subscription revenue	$ 41,338	$ 30,297
Cost of revenue:
Total cost of revenue—subscription	8,236	6,190
License—self-managed
Revenue:
Total subscription revenue	3,749	2,524
Cost of revenue:
Total cost of revenue—subscription	$ 191	$ 214

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Statement of Comprehensive Income [Abstract]
Net loss	$ (7,895)	$ (2,125)
Other comprehensive income (loss), net of tax:
Unrealized loss on available-for-sale marketable securities, net	(30)	(51)
Unrealized gain (loss) on derivative instruments, net	(611)	137
Other comprehensive income (loss)	(641)	86
Comprehensive loss	$ (8,536)	$ (2,039)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Convertible Preferred Shares and Shareholders' Equity (Deficit) - USD ($) $ in Thousands	Total	Ordinary Shares		Additional Paid-in Capital		Accumulated Other Comprehensive Income (loss)	Accumulated Deficit	Convertible Preferred Shares
Balance (in shares) at Dec. 31, 2019		27,930,741						52,063,647
Balance at Dec. 31, 2019	$ (33,434)	$ 80		$ 31,835		$ 35	$ (65,384)	$ 175,844
Issuance of ordinary shares upon exercise of share options (in shares)		243,210
Issuance of ordinary shares upon exercise of share options	396		[1]	396
Issuance of ordinary shares related to business combination (in shares)		102,692
Issuance of ordinary shares related to business combination	0		[1]		[1]
Share-based compensation expense	1,956			1,956
Other comprehensive income (loss), net of tax	86					86
Net loss	(2,125)						(2,125)
Balance (in shares) at Mar. 31, 2020		28,276,643						52,063,647
Balance at Mar. 31, 2020	(33,121)	$ 80		34,187		121	(67,509)	$ 175,844
Balance (in shares) at Dec. 31, 2020		92,112,447
Balance at Dec. 31, 2020	$ 553,894	$ 257		628,054		372	(74,789)
Issuance of ordinary shares upon exercise of share options (in shares)	1,305,571	1,305,571
Issuance of ordinary shares upon exercise of share options	$ 2,290	$ 4		2,286
Issuance of ordinary shares related to business combination (in shares)		49,823
Issuance of ordinary shares related to business combination	0		[1]		[1]
Share-based compensation expense	11,750			11,750
Other comprehensive income (loss), net of tax	(641)					(641)
Net loss	(7,895)						(7,895)
Balance (in shares) at Mar. 31, 2021		93,467,841
Balance at Mar. 31, 2021	$ 559,398	$ 261		$ 642,090		$ (269)	$ (82,684)
[1]	Amount less than $1

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Cash flows from operating activities:
Net loss	$ (7,895)	$ (2,125)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization	1,006	859
Share-based compensation expense	11,750	1,956
Non-cash operating lease expense	1,278
Net amortization of premium or discount on investments	1,343	268
Changes in operating assets and liabilities:
Accounts receivable	(14,375)	2,357
Prepaid expenses and other assets	(2,386)	(2,944)
Deferred contract acquisition costs	(1,384)	(161)
Accounts payable	(954)	1,201
Accrued expenses and other liabilities	3,658	1,083
Operating lease liabilities	(1,367)
Deferred revenue	18,137	(3,743)
Net cash provided by (used in) operating activities	8,811	(1,249)
Cash flows from investing activities:
Purchases of short-term investments	(88,580)	(40,778)
Maturities of short-term investments	61,825	34,040
Purchases of property and equipment	(1,135)	(1,149)
Net cash used in investing activities	(27,890)	(7,887)
Cash flows from financing activities:
Payments of deferred offering costs		(862)
Proceeds from exercise of share options	2,290	396
Payments to tax authorities from employee equity transactions, net	(1,008)
Net cash provided by financing activities	1,282	(466)
Net decrease in cash, cash equivalents, and restricted cash	(17,797)	(9,602)
Cash, cash equivalents, and restricted cash—beginning of period	164,739	40,943
Cash, cash equivalents, and restricted cash—end of period	$ 146,942	$ 31,341

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2021	Mar. 31, 2020
Reconciliation of cash, cash equivalents, and restricted cash within the condensed consolidated balance sheets to the amounts shown in the condensed consolidated statements of cash flows above:
Cash and cash equivalents	$ 146,676	$ 31,062
Restricted cash included in prepaid expenses and other current assets	14	14
Restricted cash included in other assets, noncurrent	252	265
Total cash, cash equivalents, and restricted cash	$ 146,942	$ 31,341

Organization and Description of

Organization and Description of Business	3 Months Ended
	Mar. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Description of Business	1. Organization an d Description of Business JFrog Ltd. (together with its subsidiaries, “JFrog”, or the “Company”) was incorporated under the laws of the State of Israel in 2008. JFrog provides an end-to-end, hybrid, universal DevOps Platform for Continuous Software Release Management enabling organizations to continuously deliver software updates across any system. JFrog’s platform is the critical bridge between software development and deployment of that software, paving the way for the modern DevOps paradigm. The Company enables organizations to build and release software faster and more securely while empowering developers to be more efficient. The Company’s solutions are designed to run on-premise, in public or private clouds, or in hybrid environments.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”), and applicable rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting, and include the accounts of JFrog Ltd. and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. The condensed consolidated balance sheet as of December 31, 2020 was derived from the audited consolidated financial statements as of that date, but does not include all of the disclosures, including certain notes required by GAAP on an annual reporting basis. Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. Therefore, these unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the related notes thereto as of and for the year ended December 31, 2020, included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020 filed with the SEC on February 12, 2021. In management’s opinion, the unaudited condensed consolidated financial statements have been prepared on the same basis as the annual consolidated financial statements and reflect all adjustments, which include only normal recurring adjustments necessary for the fair presentation of the Company’s financial position as of March 31, 2021 and the Company’s consolidated results of operations, convertible preferred shares and shareholders’ equity (deficit), and cash flows for the three months ended March 31, 2021 and 2020. The results for the three months ended March 31, 2021 are not necessarily indicative of the results to be expected for the full year ending December 31, 2021 or any other future interim or annual period. Use of Estimates The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenue and expenses during the reporting periods and accompanying notes. Significant items subject to such estimates and assumptions include, but are not limited to, the allocation of transaction price among various performance obligations, the estimated customer life on deferred contract acquisition costs, the allowance for doubtful accounts, the fair value of financial assets and liabilities, including accounting and fair value of derivatives, the fair value of acquired intangible assets and goodwill, the useful lives of acquired intangible assets and property and equipment, the incremental borrowing rate for operating leases, share-based compensation including the determination of the fair value of the Company’s share-based awards, and the valuation of deferred tax assets and uncertain tax positions. The Company bases these estimates on historical and anticipated results, trends and various other assumptions that it believes are reasonable under the circumstances, including assumptions as to future events. Actual results could differ from those estimates. The novel coronavirus (“COVID-19”) pandemic has created, and may continue to create, significant uncertainty in macroeconomic conditions, and the extent of its impact on the Company’s operational and financial performance will depend on certain developments, including the duration and spread of the outbreak and the impact on the Company’s customers and its sales cycles. The Company considered the impact of COVID-19 on the estimates and assumptions and determined that there were no material adverse impacts on the condensed consolidated financial statements for the period ended March 31, 2021. As events continue to evolve and additional information becomes available, the Company’s estimates and assumptions may change materially in future periods. Significant Accounting Policies The Company’s significant accounting policies are discussed in Note 2, Summary of Significant Accounting Policies, in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020. There have been no significant changes to these policies during the three months ended March 31, 2021, except as noted below. Recently Adopted Accounting Pronouncements As an “emerging growth company,” the Jumpstart Our Business Startups Act (“JOBS Act”) allows the Company to delay adoption of new or revised accounting pronouncements applicable to public companies until such pronouncements are made applicable to private companies. The Company has elected to use this extended transition period under the JOBS Act. The adoption dates discussed below reflect this election. In February 2016, the Financial Accounting Standards (“FASB”) issued ASU No. 2016-02, Leases (Topic 842), which would require lessees to put all leases on their balance sheets, whether operating or financing, while continuing to recognize the expenses on their income statements in a manner similar to the existing practice. The guidance states that a lessee would recognize a lease liability for the obligation to make lease payments and a right-of-use (“ROU”) asset for the right to use the underlying asset for the lease term. The Company adopted the guidance on January 1, 2021 using a modified retrospective transition approach. It applied Topic 842 to all leases as of January 1, 2021 without adjusting the comparative periods presented. The Company elected certain practical expedients permitted under the transition guidance within the new guidance and carried forward the historical accounting relating to lease identification and classification, remaining lease terms, and initial direct costs. Upon adoption, the Company recognized operating lease ROU assets of $ 21.9 million and operating lease liabilities of $ 22.1 million. Operating lease ROU assets included adjustments for prepayments and accrued lease payments. The adoption of Topic 842 did not have a material impact to the Company’s results of operations or cash flows. See Note 9, Leases , for further information. In August 2018, the FASB issued ASU No. 2018-15, Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract, which aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. The new standard requires capitalized costs to be amortized on a straight-line basis generally over the term of the arrangement, and the financial statement presentation for these capitalized costs would be the same as that of the fees related to the hosting arrangements. The Company adopted this guidance prospectively on January 1, 2021, and the adoption did not have a material impact on its condensed consolidated financial statements. Recently Issued Accounting Pronouncements In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments , which replaces the existing incurred loss impairment model with an expected credit loss model and requires a financial asset measured at amortized cost to be presented at the net amount expected to be collected. The guidance will be effective for the Company beginning January 1, 2023, and interim periods therein. Early adoption is permitted. The Company is currently evaluating the effect that ASU 2016-13 will have on its condensed consolidated financial statements and related disclosures. In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, which simplifies the accounting for income taxes by removing a variety of exceptions within the framework of ASC 740. These exceptions include the exception to the incremental approach for intra-period tax allocation in the event of a loss from continuing operations and income or a gain from other items (such as other comprehensive income), and the exception to using general methodology for the interim period tax accounting for year-to-date losses that exceed anticipated losses. The guidance will be effective for the Company beginning January 1, 2022, and interim periods in fiscal years beginning January 1, 2023. Early adoption is permitted. The Company is currently evaluating the effect that ASU 2019-12 will have on its condensed consolidated financial statements and related disclosures.

Revenue Recognition

Revenue Recognition	3 Months Ended
	Mar. 31, 2021
Revenue from Contract with Customer [Abstract]
Revenue Recognition	3. Revenue Recognition Disaggregation of Revenue The following table presents revenue by category: Three Months Ended March 31, 2021 2020 Amount Percentage Amount Percentage (in thousands, except percentages) Self-managed subscription $ 34,823 77 % $ 26,473 81 % Subscription 31,074 69 23,949 73 License 3,749 8 2,524 8 SaaS 10,264 23 6,348 19 Total subscription revenue $ 45,087 100 % $ 32,821 100 % The following table summarizes revenue by region based on the shipping address of customers: Three Months Ended March 31, 2021 2020 Amount Percentage Amount Percentage (in thousands, except percentages) United States $ 28,292 63 % $ 20,952 64 % Israel 893 2 633 2 Rest of world 15,902 35 11,236 34 Total subscription revenue $ 45,087 100 % $ 32,821 100 % Contract Balances Of the $ 102.8 million and $ 82.3 million of deferred revenue recorded as of December 31, 2020 and 2019, respectively, the Company recognized $ 32.9 million and $ 26.6 million as revenue during the three months ended March 31, 2021 and 2020, respectively. Remaining Performance Obligation The Company’s remaining performance obligations are comprised of product and service revenue not yet delivered. As of March 31, 2021, the aggregate amount of the transaction price allocated to remaining performance obligations was $ 129.2 million, which consists of billed considerations of $ 121.0 million and unbilled considerations of $ 8.2 million, respectively, that the Company expects to recognize as revenue. As of March 31, 2021, the Company expects to recognize 82 % of its remaining performance obligations as revenue over the next 12 months, and the remainder thereafter. Cost to Obtain a Contract The following table represents a rollforward of deferred contract acquisition costs: Three Months Ended March 31, 2021 2020 (in thousands) Beginning balance $ 8,196 $ 5,989 Additions to deferred contract acquisition costs 2,362 821 Amortization of deferred contract acquisition costs ( 978 ) ( 660 ) Ending balance $ 9,580 $ 6,150 Deferred contract acquisition costs (to be recognized in next 12 months) $ 3,655 $ 2,501 Deferred contract acquisition costs, noncurrent 5,925 3,649 Total deferred contract acquisition costs $ 9,580 $ 6,150

Short-Term Investments

Short-Term Investments	3 Months Ended
	Mar. 31, 2021
Investments, All Other Investments [Abstract]
Short-Term Investments	4. Short-Term Investments Short-term investments consisted of the following: March 31, 2021 Amortized Gross Gross Estimated (in thousands) Bank deposits $ 133,878 $ — $ — $ 133,878 Certificates of deposit 6,884 5 — 6,889 Commercial paper 41,403 7 ( 9 ) 41,401 Corporate debt securities 158,654 11 ( 104 ) 158,561 Municipal securities 55,374 7 ( 6 ) 55,375 Government and agency debt 62,883 6 ( 16 ) 62,873 Marketable securities 325,198 36 ( 135 ) 325,099 Total short-term investments $ 459,076 $ 36 $ ( 135 ) $ 458,977 December 31, 2020 Amortized Gross Gross Estimated (in thousands) Bank deposits $ 133,386 $ — $ — $ 133,386 Certificates of deposit 10,802 20 ( 1 ) 10,821 Commercial paper 34,150 3 ( 2 ) 34,151 Corporate debt securities 128,694 11 ( 82 ) 128,623 Municipal securities 54,238 7 ( 12 ) 54,233 Government and agency debt 72,394 5 ( 18 ) 72,381 Marketable securities 300,278 46 ( 115 ) 300,209 Total short-term investments $ 433,664 $ 46 ( 115 ) $ 433,595 Based on the available evidence, the Company concluded that the gross unrealized losses on the marketable securities as of March 31, 2021 and December 31, 2020 are temporary in nature. See Note 12, Accumulated Other Comprehensive Income (Loss) , for the realized gains or losses from available-for-sale marketable securities that were reclassified out of accumulated other comprehensive income (loss) during the periods presented. As of March 31, 2021, the contractual maturities of the Company’s marketable securities were all less than one year.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	5. Fair Value Measurements The following table presents information about the Company’s financial instruments that are measured at fair value on a recurring basis: March 31, 2021 Fair Value Level 1 Level 2 (in thousands) Financial Assets: Money market funds $ 105,755 $ 105,755 $ — Municipal securities 1,002 — 1,002 Cash equivalents 106,757 105,755 1,002 Bank deposits 133,878 — 133,878 Certificates of deposit 6,889 — 6,889 Commercial paper 41,401 — 41,401 Corporate debt securities 158,561 — 158,561 Municipal securities 55,375 — 55,375 Government and agency debt 62,873 — 62,873 Short-term investments 458,977 — 458,977 Foreign currency contracts designated as hedging instruments included in prepaid expenses and other current assets 64 — 64 Restricted bank deposits included in prepaid expenses and other current assets 14 — 14 Restricted bank deposits included in other assets, noncurrent 252 — 252 Total financial assets $ 566,064 $ 105,755 $ 460,309 Financial Liabilities: Foreign currency contracts designated as hedging instruments included in accrued expenses and other current liabilities $ 213 $ — $ 213 Foreign currency contracts not designated as hedging instruments included in accrued expenses and other current liabilities 7 — 7 Total financial liabilities $ 220 $ — $ 220 December 31, 2020 Fair Value Level 1 Level 2 (in thousands) Financial Assets: Money market funds $ 111,080 $ 111,080 $ — Certificates of deposit 274 — 274 Cash equivalents 111,354 111,080 274 Bank deposits 133,386 — 133,386 Certificates of deposit 10,821 — 10,821 Commercial paper 34,151 — 34,151 Corporate debt securities 128,623 — 128,623 Municipal securities 54,233 — 54,233 Government and agency debt 72,381 — 72,381 Short-term investments 433,595 — 433,595 Foreign currency contracts designated as hedging instruments included in prepaid expenses and other current assets 468 — 468 Foreign currency contracts not designated as hedging instruments included in prepaid expenses and other current assets 2 — 2 Restricted bank deposits included in prepaid expenses and other current assets 14 — 14 Restricted bank deposits included in other assets, noncurrent 264 — 264 Total financial assets 545,697 111,080 434,617 Financial Liabilities: Foreign currency contracts designated as hedging instruments included in accrued expenses and other current liabilities $ 16 $ — $ 16 Total financial liabilities $ 16 $ — $ 16 The Company classifies its money market fund within Level 1 of the fair value hierarchy because they are valued based on quoted market prices in active markets. The Company classifies its bank deposits, certificates of deposit, commercial paper, corporate debt securities, municipal securities, government and agency debt, and derivative financial instruments within Level 2 because they are valued using inputs other than quoted prices which are directly or indirectly observable in the market, including readily-available pricing sources for the identical underlying security which may not be actively traded. As of March 31, 2021 and December 31, 2020, the Company did no t have any assets or liabilities valued based on Level 3 valuations.

Derivative Financial Instrument

Derivative Financial Instruments and Hedging	3 Months Ended
	Mar. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments and Hedging	6. Derivative Financial Instruments and Hedging The Company enters into foreign currency forward and option contracts with financial institutions to protect against foreign exchange risks, mainly the exposure to changes in the exchange rate of the New Israeli Shekel (“NIS”) against the U.S. dollar that are associated with forecasted future cash flows and certain existing assets and liabilities for up to twelve months. The Company’s primary objective in entering into these contracts is to reduce the volatility of earnings and cash flows associated with changes in foreign currency exchange rates. The Company does not use derivative instruments for trading or speculative purposes. Notional Amount of Foreign Currency Contracts The notional amounts of outstanding foreign currency contracts in U.S. dollar as of the periods presented were as follows: March 31, 2021 December 31, 2020 (in thousands) Derivatives Designated as Hedging Instruments: Foreign currency contracts $ 20,345 $ 10,264 Derivatives Not Designated as Hedging Instruments: Foreign currency contracts 3,704 1,230 Total derivative instruments $ 24,049 $ 11,494 Effect of Foreign Currency Contracts on the Condensed Consolidated Statements of Operations The effect of foreign currency contracts on the condensed consolidated statements of operations during the periods presented were as follows: Derivatives Designated Derivatives Not Designated Three Months Ended March 31, Three Months Ended March 31, 2021 2020 2021 2020 Condensed Statement of Operations Location: (in thousands) Cost of revenue: subscription–self-managed and SaaS $ 19 $ — $ — $ — Research and development 120 — — — Sales and marketing 36 — — — General and administrative 43 — — — Interest and other income, net — — 107 ( 36 ) Total gains (losses) recognized in earnings $ 218 $ — $ 107 $ ( 36 ) Effect of Foreign Currency Contracts on Accumulated Other Comprehensive Income (Loss) The following table represents the net unrealized gains (losses) of foreign currency contracts designated as hedging instruments, net of tax, that were recorded in accumulated other comprehensive income (loss) as of March 31, 2021, and their effect on other comprehensive income (loss) for the three months ended March 31, 2021: Three Months (in thousands) Balance as of December 31, 2020 $ 441 Amount of net losses recorded in other comprehensive income ( 393 ) Amount of net gains reclassified from other comprehensive income to earnings ( 218 ) Balance as of March 31, 2021 $ ( 170 ) As of March 31, 2021, net deferred losses totaled $ 0.2 million and are expected to be recognized as operating expenses in the same financial statement line item in the Condensed Consolidated Statements of Operations to which the derivative relates over the next twelve months. See Note 12, Accumulated Other Comprehensive Income (Loss) , for the amounts recorded in each financial statement line item during the periods presented.

Condensed Consolidated Balanc_3

Condensed Consolidated Balance Sheet Components	3 Months Ended
	Mar. 31, 2021
Balance Sheet Related Disclosures [Abstract]
Condensed Consolidated Balance Sheet Components	7. Condensed Consolidated Balance Sheet Components Property and Equipment, Net Property and equipment, net consisted of the following: March 31, 2021 December 31, 2020 (in thousands) Computer and software $ 4,638 $ 4,079 Furniture and office equipment 1,676 1,495 Leasehold improvements 4,284 3,761 Property and equipment, gross 10,598 9,335 Less: accumulated depreciation and amortization ( 5,000 ) ( 4,372 ) Property and equipment, net $ 5,598 $ 4,963 Accrued Expenses and Other Current Liabilities Accrued expenses and other current liabilities consisted of the following: March 31, 2021 December 31, 2020 (in thousands) Accrued compensation and benefits $ 10,707 $ 8,799 Withholding tax from employee equity transactions to be remitted to tax authorities 8,171 9,186 Accrued expenses 4,899 3,054 Accrued expenses and other current liabilities $ 23,777 $ 21,039

Intangible Assets, Net

Intangible Assets, Net	3 Months Ended
	Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets, Net	8. Intangible Assets, Net Intangible assets consisted of the following as of March 31, 2021: Gross Fair Accumulated Net Book Weighted- (in thousands) (in years) Developed technology $ 4,856 $ ( 2,255 ) $ 2,601 3.5 Customer relationships 1,200 ( 416 ) 784 3.9 Other intangible assets 1,586 ( 1,297 ) 289 0.5 Total $ 7,642 $ ( 3,968 ) $ 3,674 Intangible assets consisted of the following as of December 31, 2020: Gross Fair Accumulated Net Book Weighted- (in thousands) (in years) Developed technology $ 4,856 $ ( 2,064 ) $ 2,792 3.7 Customer relationships 1,200 ( 367 ) 833 4.2 Other intangible assets 1,586 ( 1,164 ) 422 0.8 Total $ 7,642 $ ( 3,595 ) $ 4,047 Amortization expenses for intangible assets were $ 0.4 million for the three months ended March 31, 2021 and 2020. Amortization of developed technology is included in cost of revenue: license—self-managed and amortization of customer relationships and other intangible assets are included in sales and marketing expense in the condensed consolidated statements of operations. The expected future amortization expenses by year related to the intangible assets as of March 31, 2021 are as follows: March 31, 2021 (in thousands) Year Ending December 31, 2021 (Remainder) $ 1,009 2022 961 2023 887 2024 667 2025 150 Total $ 3,674

Leases

Leases	3 Months Ended
	Mar. 31, 2021
Leases [Abstract]
Leases	9. Leases The Company leases its office facilities under non-cancelable agreements that expire at various dates through July 2026. The Company determines if an arrangement is a lease at inception. As discussed in Note 2, Summary of Significant Accounting Policies , operating lease ROU assets and liabilities are included on the Condensed Consolidated Balance Sheet beginning January 1, 2021. The Company currently does not have any finance leases. Operating lease ROU assets and liabilities are recognized at the present value of the future lease payments at the lease commencement date. The Company combines its lease payments and fixed payments for non-lease components and account for them together as a single lease component. Operating lease ROU assets also include any prepaid lease payments and lease incentives. Certain lease agreements include rental payments adjusted periodically for the consumer price index ("CPI"). The ROU and lease liability were calculated using the initial CPI and will not be subsequently adjusted. Payments for variable lease costs are expensed as incurred and not included in the operating lease ROU assets and liabilities. For short-term leases with a term of 12 months or less, operating lease ROU assets and liabilities are not recognized and the Company records lease payments in the Condensed Consolidated Statements of Operations on a straight-line basis over the lease term. The interest rate used to determine the present value of the future lease payments is the Company’s incremental borrowing rate, because the interest rate implicit in the Company’s leases is not readily determinable. The Company’s incremental borrowing rate is estimated to approximate the interest rate on a collateralized basis with similar terms and payments, and in economic environments where the leased asset is located. Many of the Company’s lease agreements provide one or more options to renew. When determining lease terms, the Company uses the non-cancellable period of the leases and do not assume renewals unless it is reasonably certain that the Company will exercise that option. Operating lease expense is recognized on a straight-line basis over the lease term. Components of operating lease expense were as follows: Three Months Ended (in thousands) Operating lease cost $ 1,348 Short-term lease cost 43 Variable lease cost 90 Total operating lease cost $ 1,481 Rent expense under the previous lease accounting standard was $ 1.0 million during the three months ended March 31, 2020. Supplementary cash flow information related to operating leases was as follows: Three Months Ended (in thousands) Cash paid for operating leases $ 1,163 As of March 31, 2021, the weighted-average discount rate is 1.3 % and the weighted-average remaining term is 4.3 years. Maturities of the Company’s operating lease liabilities as of March 31, 2021 were as follows: March 31, 2021 (in thousands) Year Ending December 31, 2021 (Remainder) $ 3,824 2022 5,118 2023 4,722 2024 3,885 2025 3,031 Thereafter 803 Total operating lease payments 21,383 Less: imputed interest ( 610 ) Total operating lease liabilities $ 20,773 As of March 31, 2021, the Company had additional operating lease obligations of $ 2.6 million related to a facility lease commencing in July 2021 with the lease term ending June 2025 . As of December 31, 2020, the minimum lease payments under operating leases, including payments for leases which had not commenced, were as follows: December 31, 2020 (in thousands) Year Ending December 31, 2021 $ 5,475 2022 5,931 2023 5,429 2024 4,607 2025 3,389 Thereafter 803 Total $ 25,634

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	10. Commitments and Contingencies Non-cancelable Purchase Obligations In the normal course of business, the Company enters into non-cancelable purchase commitments with various parties for mainly hosting services, as well as software products and services. As of March 31, 2021, the Company had outstanding non-cancelable purchase obligations with a term of 12 months or longer as follows: March 31, 2021 (in thousands) Year Ending December 31, 2021 (Remainder) $ 6,814 2022 16,179 2023 13,488 2024 10,000 2025 31,000 Total $ 77,481 Indemnifications and Contingencies The Company enters into indemnification provisions under certain agreements with other parties in the ordinary course of business. In its customer agreements, the Company has agreed to indemnify, defend and hold harmless the indemnified party for third party claims and related losses suffered or incurred by the indemnified party from actual or threatened third-party intellectual property infringement claims. For certain large or strategic customers, the Company has agreed to indemnify, defend and hold harmless the indemnified party for non-compliance with certain additional representations and warranties made by the Company. Grants from Israeli Innovation Authority The Company has received in the past grants from the Israeli Innovation Authority (“IIA”) and repaid them in full. Still, as any grant recipient, the Company is subject to the provisions of the Israeli Law for the Encouragement of Research, Development and Technological Innovation in the Industry and the regulations and guidelines thereunder (the “Innovation Law”). Pursuant to the Innovation Law, there are restrictions related to transferring intellectual property outside of Israel. Such transfer requires the approval from the IIA. The approval may be subject to a maximum additional payment amount of approximately $ 6.0 million. In the past, the Company received an approval from the IIA to perform a limited development of IIA funded know-how outside of Israel, subject to the terms specified in the IIA approval, including that all of its core R&D activities will remain in Israel. Legal Proceedings In the ordinary course of business, the Company may be subject from time to time to various proceedings, lawsuits, disputes, or claims. The Company investigates these claims as they arise. Although claims are inherently unpredictable, the Company is currently not aware of any matters that, if determined adversely to the Company, would individually or taken together, have a material adverse effect on its business, financial position, results of operations, or cash flows.

Shareholders' Equity and Equity

Shareholders' Equity and Equity Incentive Plans	3 Months Ended
	Mar. 31, 2021
Equity [Abstract]
Shareholders' Equity and Equity Incentive Plans	11. Shareholders’ Equity and Equity Incentive Plans Equity Incentive Plans On January 1, 2021, the number of ordinary shares authorized for issuance under the 2020 Equity Incentive Plan (the “2020 Plan”) automatically increased by 5,307,818 shares pursuant to the terms of the 2020 Plan. Share Options A summary of share option activity under the Company’s equity incentive plans and related information is as follows: Options Outstanding Outstanding Weighted-Average Exercise Weighted-Average Remaining Aggregate (in thousands, except share, life and per share data) Balance as of December 31, 2020 13,075,489 $ 6.50 6.8 $ 736,478 Granted 30,000 $ 65.96 Exercised ( 1,305,571 ) $ 1.75 $ 75,439 Forfeited ( 80,960 ) $ 13.74 Balance as of March 31, 2021 11,718,958 $ 7.14 6.8 $ 436,988 Exercisable as of March 31, 2021 5,206,706 $ 2.10 5.0 $ 220,111 The weighted-average grant date fair value of options granted during the three months ended March 31, 2021 and 2020 was $ 42.00 and $ 9.95 , respectively. The total intrinsic value of option exercised during the three months ended March 31, 2020 was $ 3.3 million. Restricted Share Units A summary of restricted share unit ( “RSU”) activity and related information under the Company's equity incentive plan and a stand-alone RSU award to the Company's Chief Executive Officer in August 2020 is as follows: RSUs Unvested RSUs Weighted-Average Unvested as of December 31, 2020 818,945 $ 48.38 Granted 697,450 $ 64.33 Canceled/forfeited ( 41,700 ) $ 65.84 Unvested as of March 31, 2021 1,474,695 $ 55.43 Employee Share Purchase Plan On January 1, 2021, the number of ordinary shares authorized for issuance under the 2020 Employee Share Purchase Plan (“ESPP”) automatically increased by 922,570 shares pursuant to the terms of ESPP. There were no share purchases during the three months ended March 31, 2021. Shares Reserved for Future Issuance The Company has the following ordinary shares reserved for future issuance: March 31, 2021 Outstanding share options 11,718,958 Outstanding RSUs 1,474,695 Issuable ordinary shares related to business combinations 99,649 Shares available for future issuance under the 2020 Plan 14,667,334 Shares available for future issuance under ESPP 3,022,570 Total ordinary shares reserved 30,983,206 Share-Based Compensation The share-based compensation expense by line item in the accompanying condensed consolidated statements of operations is summarized as follows: Three Months Ended March 31, 2021 2020 (in thousands) Cost of revenue: subscription–self-managed and SaaS $ 762 $ 140 Research and development 1,829 766 Sales and marketing 2,723 673 General and administrative 6,436 377 Total share-based compensation expense $ 11,750 $ 1,956 As of March 31, 2021, unrecognized share-based compensation cost related to unvested share-based compensation awards was $ 121.7 million, which is expected to be recognized over a weighted-average period of 3.2 years .

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	3 Months Ended
	Mar. 31, 2021
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive (Loss) Income	12. Accumulated Other Comprehensive Income (Loss) The following table summarizes the changes in accumulated other comprehensive income (loss) by component, net of tax, during the periods presented: Net Unrealized Net Unrealized Total (in thousands) Balance as of December 31, 2020 $ ( 69 ) $ 441 $ 372 Other comprehensive loss before reclassifications ( 30 ) ( 393 ) ( 423 ) Net realized gains reclassified from accumulated other comprehensive income (loss) — ( 218 ) ( 218 ) Other comprehensive loss ( 30 ) ( 611 ) ( 641 ) Balance as of March 31, 2021 $ ( 99 ) $ ( 170 ) $ ( 269 ) Net Unrealized Net Unrealized Total (in thousands) Balance as of December 31, 2019 $ 35 $ — $ 35 Other comprehensive income (loss) before reclassifications ( 54 ) 137 83 Net realized losses reclassified from accumulated other comprehensive income 3 — 3 Other comprehensive income (loss) ( 51 ) 137 86 Balance as of March 31, 2020 $ ( 16 ) $ 137 $ 121

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Income Taxes	13. Income Taxes The Company’s quarterly tax provision, and estimates of its annual effective tax rate, is subject to variation due to several factors, including variability in pre-tax income (or loss), the mix of jurisdictions to which such income relates, tax law developments, as well as non-deductible expenses, such as share-based compensation, and changes in its valuation allowance. Income tax benefit was $ 2.4 million for the three months ended March 31, 2021 and income tax expense was $ 0.6 million for the three months ended March 31, 2020, consisted primarily of income taxes related to the U.S. A valuation allowance is provided when it is more likely than not that the deferred tax assets will not be realized. Based on the available objective evidence during the three months ended March 31, 2021, the Company believes it is more likely than not that the tax benefits of the Company’s losses incurred in Israel may not be realized. As of March 31, 2021, the Company is under examination of its income tax returns by the Israeli Tax Authorities for the years from 2015 through 2018 . The Company does not believe the resolution of the examination will have a material impact on the Company’s consolidated financial statements. Our gross unrecognized tax benefits were $ 3.1 million and $ 2.7 million as of March 31, 2021 and December 31, 2020, respectively. The net increase to our gross unrecognized tax benefit is primarily the result of $ 0.4 million increase in current year tax positions. As of March 31, 2021, the Company does not expect its unrecognized tax benefits to change significantly within the next twelve months.

Net Loss Per Share Attributable

Net Loss Per Share Attributable to Ordinary Shareholders	3 Months Ended
	Mar. 31, 2021
Earnings Per Share [Abstract]
Net Loss Per Share Attributable to Ordinary Shareholders	14. Net Loss Per Share Attributable to Ordinary Shareholders The following table sets forth the computation of basic and diluted net loss per share attributable to ordinary shareholders for the periods presented: Three Months Ended March 31, 2021 2020 (in thousands, except share Numerator: Net loss $ ( 7,895 ) $ ( 2,125 ) Denominator: Weighted-average shares used in computing net loss per share attributable to ordinary shareholders, basic and diluted 92,679,756 28,154,185 Net loss per share attributable to ordinary shareholders, basic and diluted $ ( 0.09 ) $ ( 0.08 ) The potential shares of ordinary shares that were excluded from the computation of diluted net loss per share attributable to ordinary shareholders for the periods presented because including them would have been anti-dilutive are as follows: Three Months Ended March 31, 2021 2020 Convertible preferred shares — 52,063,647 Outstanding share options 12,504,417 13,095,644 Unvested RSUs 1,164,446 — Share purchase rights under the ESPP 23,652 — Issuable ordinary shares related to business combination 132,311 269,099 Total 13,824,826 65,428,390

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”), and applicable rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting, and include the accounts of JFrog Ltd. and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. The condensed consolidated balance sheet as of December 31, 2020 was derived from the audited consolidated financial statements as of that date, but does not include all of the disclosures, including certain notes required by GAAP on an annual reporting basis. Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. Therefore, these unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the related notes thereto as of and for the year ended December 31, 2020, included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020 filed with the SEC on February 12, 2021. In management’s opinion, the unaudited condensed consolidated financial statements have been prepared on the same basis as the annual consolidated financial statements and reflect all adjustments, which include only normal recurring adjustments necessary for the fair presentation of the Company’s financial position as of March 31, 2021 and the Company’s consolidated results of operations, convertible preferred shares and shareholders’ equity (deficit), and cash flows for the three months ended March 31, 2021 and 2020. The results for the three months ended March 31, 2021 are not necessarily indicative of the results to be expected for the full year ending December 31, 2021 or any other future interim or annual period.
Use of Estimates	Use of Estimates The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenue and expenses during the reporting periods and accompanying notes. Significant items subject to such estimates and assumptions include, but are not limited to, the allocation of transaction price among various performance obligations, the estimated customer life on deferred contract acquisition costs, the allowance for doubtful accounts, the fair value of financial assets and liabilities, including accounting and fair value of derivatives, the fair value of acquired intangible assets and goodwill, the useful lives of acquired intangible assets and property and equipment, the incremental borrowing rate for operating leases, share-based compensation including the determination of the fair value of the Company’s share-based awards, and the valuation of deferred tax assets and uncertain tax positions. The Company bases these estimates on historical and anticipated results, trends and various other assumptions that it believes are reasonable under the circumstances, including assumptions as to future events. Actual results could differ from those estimates. The novel coronavirus (“COVID-19”) pandemic has created, and may continue to create, significant uncertainty in macroeconomic conditions, and the extent of its impact on the Company’s operational and financial performance will depend on certain developments, including the duration and spread of the outbreak and the impact on the Company’s customers and its sales cycles. The Company considered the impact of COVID-19 on the estimates and assumptions and determined that there were no material adverse impacts on the condensed consolidated financial statements for the period ended March 31, 2021. As events continue to evolve and additional information becomes available, the Company’s estimates and assumptions may change materially in future periods.
Significant Accounting Policies	Significant Accounting Policies The Company’s significant accounting policies are discussed in Note 2, Summary of Significant Accounting Policies, in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020. There have been no significant changes to these policies during the three months ended March 31, 2021, except as noted below.
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements As an “emerging growth company,” the Jumpstart Our Business Startups Act (“JOBS Act”) allows the Company to delay adoption of new or revised accounting pronouncements applicable to public companies until such pronouncements are made applicable to private companies. The Company has elected to use this extended transition period under the JOBS Act. The adoption dates discussed below reflect this election. In February 2016, the Financial Accounting Standards (“FASB”) issued ASU No. 2016-02, Leases (Topic 842), which would require lessees to put all leases on their balance sheets, whether operating or financing, while continuing to recognize the expenses on their income statements in a manner similar to the existing practice. The guidance states that a lessee would recognize a lease liability for the obligation to make lease payments and a right-of-use (“ROU”) asset for the right to use the underlying asset for the lease term. The Company adopted the guidance on January 1, 2021 using a modified retrospective transition approach. It applied Topic 842 to all leases as of January 1, 2021 without adjusting the comparative periods presented. The Company elected certain practical expedients permitted under the transition guidance within the new guidance and carried forward the historical accounting relating to lease identification and classification, remaining lease terms, and initial direct costs. Upon adoption, the Company recognized operating lease ROU assets of $ 21.9 million and operating lease liabilities of $ 22.1 million. Operating lease ROU assets included adjustments for prepayments and accrued lease payments. The adoption of Topic 842 did not have a material impact to the Company’s results of operations or cash flows. See Note 9, Leases , for further information. In August 2018, the FASB issued ASU No. 2018-15, Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract, which aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. The new standard requires capitalized costs to be amortized on a straight-line basis generally over the term of the arrangement, and the financial statement presentation for these capitalized costs would be the same as that of the fees related to the hosting arrangements. The Company adopted this guidance prospectively on January 1, 2021, and the adoption did not have a material impact on its condensed consolidated financial statements.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments , which replaces the existing incurred loss impairment model with an expected credit loss model and requires a financial asset measured at amortized cost to be presented at the net amount expected to be collected. The guidance will be effective for the Company beginning January 1, 2023, and interim periods therein. Early adoption is permitted. The Company is currently evaluating the effect that ASU 2016-13 will have on its condensed consolidated financial statements and related disclosures. In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, which simplifies the accounting for income taxes by removing a variety of exceptions within the framework of ASC 740. These exceptions include the exception to the incremental approach for intra-period tax allocation in the event of a loss from continuing operations and income or a gain from other items (such as other comprehensive income), and the exception to using general methodology for the interim period tax accounting for year-to-date losses that exceed anticipated losses. The guidance will be effective for the Company beginning January 1, 2022, and interim periods in fiscal years beginning January 1, 2023. Early adoption is permitted. The Company is currently evaluating the effect that ASU 2019-12 will have on its condensed consolidated financial statements and related disclosures.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Mar. 31, 2021
Revenue from Contract with Customer [Abstract]
Summary of table presents revenue as follows	The following table presents revenue by category: Three Months Ended March 31, 2021 2020 Amount Percentage Amount Percentage (in thousands, except percentages) Self-managed subscription $ 34,823 77 % $ 26,473 81 % Subscription 31,074 69 23,949 73 License 3,749 8 2,524 8 SaaS 10,264 23 6,348 19 Total subscription revenue $ 45,087 100 % $ 32,821 100 %
Summary of table by region based on the shipping address of customers	The following table summarizes revenue by region based on the shipping address of customers: Three Months Ended March 31, 2021 2020 Amount Percentage Amount Percentage (in thousands, except percentages) United States $ 28,292 63 % $ 20,952 64 % Israel 893 2 633 2 Rest of world 15,902 35 11,236 34 Total subscription revenue $ 45,087 100 % $ 32,821 100 %
Summary of table represents a rollforward of deferred contract acquisition costs	The following table represents a rollforward of deferred contract acquisition costs: Three Months Ended March 31, 2021 2020 (in thousands) Beginning balance $ 8,196 $ 5,989 Additions to deferred contract acquisition costs 2,362 821 Amortization of deferred contract acquisition costs ( 978 ) ( 660 ) Ending balance $ 9,580 $ 6,150 Deferred contract acquisition costs (to be recognized in next 12 months) $ 3,655 $ 2,501 Deferred contract acquisition costs, noncurrent 5,925 3,649 Total deferred contract acquisition costs $ 9,580 $ 6,150

Short-Term Investments (Tables)

Short-Term Investments (Tables)	3 Months Ended
	Mar. 31, 2021
Investments, All Other Investments [Abstract]
Summary of short term investments	Short-term investments consisted of the following: March 31, 2021 Amortized Gross Gross Estimated (in thousands) Bank deposits $ 133,878 $ — $ — $ 133,878 Certificates of deposit 6,884 5 — 6,889 Commercial paper 41,403 7 ( 9 ) 41,401 Corporate debt securities 158,654 11 ( 104 ) 158,561 Municipal securities 55,374 7 ( 6 ) 55,375 Government and agency debt 62,883 6 ( 16 ) 62,873 Marketable securities 325,198 36 ( 135 ) 325,099 Total short-term investments $ 459,076 $ 36 $ ( 135 ) $ 458,977 December 31, 2020 Amortized Gross Gross Estimated (in thousands) Bank deposits $ 133,386 $ — $ — $ 133,386 Certificates of deposit 10,802 20 ( 1 ) 10,821 Commercial paper 34,150 3 ( 2 ) 34,151 Corporate debt securities 128,694 11 ( 82 ) 128,623 Municipal securities 54,238 7 ( 12 ) 54,233 Government and agency debt 72,394 5 ( 18 ) 72,381 Marketable securities 300,278 46 ( 115 ) 300,209 Total short-term investments $ 433,664 $ 46 ( 115 ) $ 433,595

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2021
Fair Value Disclosures [Abstract]
Summary of fair value by balance sheet grouping	The following table presents information about the Company’s financial instruments that are measured at fair value on a recurring basis: March 31, 2021 Fair Value Level 1 Level 2 (in thousands) Financial Assets: Money market funds $ 105,755 $ 105,755 $ — Municipal securities 1,002 — 1,002 Cash equivalents 106,757 105,755 1,002 Bank deposits 133,878 — 133,878 Certificates of deposit 6,889 — 6,889 Commercial paper 41,401 — 41,401 Corporate debt securities 158,561 — 158,561 Municipal securities 55,375 — 55,375 Government and agency debt 62,873 — 62,873 Short-term investments 458,977 — 458,977 Foreign currency contracts designated as hedging instruments included in prepaid expenses and other current assets 64 — 64 Restricted bank deposits included in prepaid expenses and other current assets 14 — 14 Restricted bank deposits included in other assets, noncurrent 252 — 252 Total financial assets $ 566,064 $ 105,755 $ 460,309 Financial Liabilities: Foreign currency contracts designated as hedging instruments included in accrued expenses and other current liabilities $ 213 $ — $ 213 Foreign currency contracts not designated as hedging instruments included in accrued expenses and other current liabilities 7 — 7 Total financial liabilities $ 220 $ — $ 220 December 31, 2020 Fair Value Level 1 Level 2 (in thousands) Financial Assets: Money market funds $ 111,080 $ 111,080 $ — Certificates of deposit 274 — 274 Cash equivalents 111,354 111,080 274 Bank deposits 133,386 — 133,386 Certificates of deposit 10,821 — 10,821 Commercial paper 34,151 — 34,151 Corporate debt securities 128,623 — 128,623 Municipal securities 54,233 — 54,233 Government and agency debt 72,381 — 72,381 Short-term investments 433,595 — 433,595 Foreign currency contracts designated as hedging instruments included in prepaid expenses and other current assets 468 — 468 Foreign currency contracts not designated as hedging instruments included in prepaid expenses and other current assets 2 — 2 Restricted bank deposits included in prepaid expenses and other current assets 14 — 14 Restricted bank deposits included in other assets, noncurrent 264 — 264 Total financial assets 545,697 111,080 434,617 Financial Liabilities: Foreign currency contracts designated as hedging instruments included in accrued expenses and other current liabilities $ 16 $ — $ 16 Total financial liabilities $ 16 $ — $ 16

Derivative Financial Instrume_2

Derivative Financial Instruments and Hedging (Tables)	3 Months Ended
	Mar. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Disclosure of notional amount of derivatives by hedging designation	The notional amounts of outstanding foreign currency contracts in U.S. dollar as of the periods presented were as follows: March 31, 2021 December 31, 2020 (in thousands) Derivatives Designated as Hedging Instruments: Foreign currency contracts $ 20,345 $ 10,264 Derivatives Not Designated as Hedging Instruments: Foreign currency contracts 3,704 1,230 Total derivative instruments $ 24,049 $ 11,494
Derivative instruments, gain (loss)	The effect of foreign currency contracts on the condensed consolidated statements of operations during the periods presented were as follows: Derivatives Designated Derivatives Not Designated Three Months Ended March 31, Three Months Ended March 31, 2021 2020 2021 2020 Condensed Statement of Operations Location: (in thousands) Cost of revenue: subscription–self-managed and SaaS $ 19 $ — $ — $ — Research and development 120 — — — Sales and marketing 36 — — — General and administrative 43 — — — Interest and other income, net — — 107 ( 36 ) Total gains (losses) recognized in earnings $ 218 $ — $ 107 $ ( 36 )
Disclosure of net unrealised gains on foreign currency contracts designated as hedging instruments	The following table represents the net unrealized gains (losses) of foreign currency contracts designated as hedging instruments, net of tax, that were recorded in accumulated other comprehensive income (loss) as of March 31, 2021, and their effect on other comprehensive income (loss) for the three months ended March 31, 2021: Three Months (in thousands) Balance as of December 31, 2020 $ 441 Amount of net losses recorded in other comprehensive income ( 393 ) Amount of net gains reclassified from other comprehensive income to earnings ( 218 ) Balance as of March 31, 2021 $ ( 170 )

Condensed Consolidated Balanc_4

Condensed Consolidated Balance Sheet Components (Tables)	3 Months Ended
	Mar. 31, 2021
Balance Sheet Related Disclosures [Abstract]
Summary of property and equipment	Property and equipment, net consisted of the following: March 31, 2021 December 31, 2020 (in thousands) Computer and software $ 4,638 $ 4,079 Furniture and office equipment 1,676 1,495 Leasehold improvements 4,284 3,761 Property and equipment, gross 10,598 9,335 Less: accumulated depreciation and amortization ( 5,000 ) ( 4,372 ) Property and equipment, net $ 5,598 $ 4,963
Summary of accrued expenses and other current liabilities	Accrued expenses and other current liabilities consisted of the following: March 31, 2021 December 31, 2020 (in thousands) Accrued compensation and benefits $ 10,707 $ 8,799 Withholding tax from employee equity transactions to be remitted to tax authorities 8,171 9,186 Accrued expenses 4,899 3,054 Accrued expenses and other current liabilities $ 23,777 $ 21,039

Intangible Assets, Net (Tables)

Intangible Assets, Net (Tables)	3 Months Ended
	Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of intangible assets	Intangible assets consisted of the following as of March 31, 2021: Gross Fair Accumulated Net Book Weighted- (in thousands) (in years) Developed technology $ 4,856 $ ( 2,255 ) $ 2,601 3.5 Customer relationships 1,200 ( 416 ) 784 3.9 Other intangible assets 1,586 ( 1,297 ) 289 0.5 Total $ 7,642 $ ( 3,968 ) $ 3,674 Intangible assets consisted of the following as of December 31, 2020: Gross Fair Accumulated Net Book Weighted- (in thousands) (in years) Developed technology $ 4,856 $ ( 2,064 ) $ 2,792 3.7 Customer relationships 1,200 ( 367 ) 833 4.2 Other intangible assets 1,586 ( 1,164 ) 422 0.8 Total $ 7,642 $ ( 3,595 ) $ 4,047
Summary of expected future amortization expenses by year related to the intangible assets	The expected future amortization expenses by year related to the intangible assets as of March 31, 2021 are as follows: March 31, 2021 (in thousands) Year Ending December 31, 2021 (Remainder) $ 1,009 2022 961 2023 887 2024 667 2025 150 Total $ 3,674

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2021
Leases [Abstract]
Summary of minimum lease payments under operating leases	As of December 31, 2020, the minimum lease payments under operating leases, including payments for leases which had not commenced, were as follows: December 31, 2020 (in thousands) Year Ending December 31, 2021 $ 5,475 2022 5,931 2023 5,429 2024 4,607 2025 3,389 Thereafter 803 Total $ 25,634
Schedule of Maturities of Operating Lease Liabilities	As of March 31, 2021, the weighted-average discount rate is 1.3 % and the weighted-average remaining term is 4.3 years. Maturities of the Company’s operating lease liabilities as of March 31, 2021 were as follows: March 31, 2021 (in thousands) Year Ending December 31, 2021 (Remainder) $ 3,824 2022 5,118 2023 4,722 2024 3,885 2025 3,031 Thereafter 803 Total operating lease payments 21,383 Less: imputed interest ( 610 ) Total operating lease liabilities $ 20,773
Components of Operating Lease Expense	Components of operating lease expense were as follows: Three Months Ended (in thousands) Operating lease cost $ 1,348 Short-term lease cost 43 Variable lease cost 90 Total operating lease cost $ 1,481
Supplementary Cash Flow Information Related to Operating Leases [Table Text Block]	Supplementary cash flow information related to operating leases was as follows: Three Months Ended (in thousands) Cash paid for operating leases $ 1,163

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Summary of outstanding non-cancelable purchase obligations	In the normal course of business, the Company enters into non-cancelable purchase commitments with various parties for mainly hosting services, as well as software products and services. As of March 31, 2021, the Company had outstanding non-cancelable purchase obligations with a term of 12 months or longer as follows: March 31, 2021 (in thousands) Year Ending December 31, 2021 (Remainder) $ 6,814 2022 16,179 2023 13,488 2024 10,000 2025 31,000 Total $ 77,481

Shareholders' Equity and Equi_2

Shareholders' Equity and Equity Incentive Plans (Tables)	3 Months Ended
	Mar. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Summary of stock option activity	A summary of share option activity under the Company’s equity incentive plans and related information is as follows: Options Outstanding Outstanding Weighted-Average Exercise Weighted-Average Remaining Aggregate (in thousands, except share, life and per share data) Balance as of December 31, 2020 13,075,489 $ 6.50 6.8 $ 736,478 Granted 30,000 $ 65.96 Exercised ( 1,305,571 ) $ 1.75 $ 75,439 Forfeited ( 80,960 ) $ 13.74 Balance as of March 31, 2021 11,718,958 $ 7.14 6.8 $ 436,988 Exercisable as of March 31, 2021 5,206,706 $ 2.10 5.0 $ 220,111
Summary of restricted ordinary shares	A summary of restricted share unit ( “RSU”) activity and related information under the Company's equity incentive plan and a stand-alone RSU award to the Company's Chief Executive Officer in August 2020 is as follows: RSUs Unvested RSUs Weighted-Average Unvested as of December 31, 2020 818,945 $ 48.38 Granted 697,450 $ 64.33 Canceled/forfeited ( 41,700 ) $ 65.84 Unvested as of March 31, 2021 1,474,695 $ 55.43
Summary of ordinary shares reserved for future issuance	The Company has the following ordinary shares reserved for future issuance: March 31, 2021 Outstanding share options 11,718,958 Outstanding RSUs 1,474,695 Issuable ordinary shares related to business combinations 99,649 Shares available for future issuance under the 2020 Plan 14,667,334 Shares available for future issuance under ESPP 3,022,570 Total ordinary shares reserved 30,983,206
Summary of stock-based compensation expense	The share-based compensation expense by line item in the accompanying condensed consolidated statements of operations is summarized as follows: Three Months Ended March 31, 2021 2020 (in thousands) Cost of revenue: subscription–self-managed and SaaS $ 762 $ 140 Research and development 1,829 766 Sales and marketing 2,723 673 General and administrative 6,436 377 Total share-based compensation expense $ 11,750 $ 1,956

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	3 Months Ended
	Mar. 31, 2021
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Summary of changes in accumulated other comprehensive income (loss)	The following table summarizes the changes in accumulated other comprehensive income (loss) by component, net of tax, during the periods presented: Net Unrealized Net Unrealized Total (in thousands) Balance as of December 31, 2020 $ ( 69 ) $ 441 $ 372 Other comprehensive loss before reclassifications ( 30 ) ( 393 ) ( 423 ) Net realized gains reclassified from accumulated other comprehensive income (loss) — ( 218 ) ( 218 ) Other comprehensive loss ( 30 ) ( 611 ) ( 641 ) Balance as of March 31, 2021 $ ( 99 ) $ ( 170 ) $ ( 269 ) Net Unrealized Net Unrealized Total (in thousands) Balance as of December 31, 2019 $ 35 $ — $ 35 Other comprehensive income (loss) before reclassifications ( 54 ) 137 83 Net realized losses reclassified from accumulated other comprehensive income 3 — 3 Other comprehensive income (loss) ( 51 ) 137 86 Balance as of March 31, 2020 $ ( 16 ) $ 137 $ 121

Net Loss Per Share Attributab_2

Net Loss Per Share Attributable to Ordinary Shareholders (Tables)	3 Months Ended
	Mar. 31, 2021
Earnings Per Share [Abstract]
Summary of computation of basic and diluted net loss per share attributable to ordinary shareholders	The following table sets forth the computation of basic and diluted net loss per share attributable to ordinary shareholders for the periods presented: Three Months Ended March 31, 2021 2020 (in thousands, except share Numerator: Net loss $ ( 7,895 ) $ ( 2,125 ) Denominator: Weighted-average shares used in computing net loss per share attributable to ordinary shareholders, basic and diluted 92,679,756 28,154,185 Net loss per share attributable to ordinary shareholders, basic and diluted $ ( 0.09 ) $ ( 0.08 )
Summary of shares excluded from the computation of diluted net loss per share attributable to ordinary shareholders	The potential shares of ordinary shares that were excluded from the computation of diluted net loss per share attributable to ordinary shareholders for the periods presented because including them would have been anti-dilutive are as follows: Three Months Ended March 31, 2021 2020 Convertible preferred shares — 52,063,647 Outstanding share options 12,504,417 13,095,644 Unvested RSUs 1,164,446 — Share purchase rights under the ESPP 23,652 — Issuable ordinary shares related to business combination 132,311 269,099 Total 13,824,826 65,428,390

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($) $ in Thousands	Mar. 31, 2021	Jan. 01, 2021	Dec. 31, 2020
Operating lease right-of-use assets	$ 20,611	$ 21,900	$ 0
Operating lease liabilities	$ 20,773	$ 22,100

Revenue Recognition - Additiona

Revenue Recognition - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2019
Disaggregation of Revenue [Line Items]
Deferred Revenue			$ 102.8	$ 82.3
Deferred Revenue, Revenue Recognized	$ 32.9	$ 26.6
Revenue, Remaining Performance Obligation	$ 129.2
Revenue, Remaining Performance Obligation, Percentage	82.00%
Billed Revenues [Member]
Disaggregation of Revenue [Line Items]
Revenue, Remaining Performance Obligation	$ 121
Unbilled Revenues [Member]
Disaggregation of Revenue [Line Items]
Revenue, Remaining Performance Obligation	$ 8.2

Revenue Recognition - Summary o

Revenue Recognition - Summary of Table Presents Revenue as Follows (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Disaggregation of Revenue [Line Items]
Total subscription revenue	$ 45,087	$ 32,821
Sale revenue [Member]
Disaggregation of Revenue [Line Items]
Percentage of revenue	100.00%	100.00%
Self-managed subscription [Member]
Disaggregation of Revenue [Line Items]
Total subscription revenue	$ 34,823	$ 26,473
Self-managed subscription [Member] | Sale revenue [Member]
Disaggregation of Revenue [Line Items]
Percentage of revenue	77.00%	81.00%
Subscription—self-managed and SaaS
Disaggregation of Revenue [Line Items]
Total subscription revenue	$ 31,074	$ 23,949
Subscription—self-managed and SaaS | Sale revenue [Member]
Disaggregation of Revenue [Line Items]
Percentage of revenue	69.00%	73.00%
License [Member]
Disaggregation of Revenue [Line Items]
Total subscription revenue	$ 3,749	$ 2,524
License [Member] | Sale revenue [Member]
Disaggregation of Revenue [Line Items]
Percentage of revenue	8.00%	8.00%
SaaS [Member]
Disaggregation of Revenue [Line Items]
Total subscription revenue	$ 10,264	$ 6,348
SaaS [Member] | Sale revenue [Member]
Disaggregation of Revenue [Line Items]
Percentage of revenue	23.00%	19.00%

Revenue Recognition - Summary_2

Revenue Recognition - Summary of Revenue by Region Based on The Shipping Address of Customers as Follows (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Disaggregation of Revenue [Line Items]
Total subscription revenue	$ 45,087	$ 32,821
Geographic concentration risk [Member]
Disaggregation of Revenue [Line Items]
Percentage of revenue	100.00%	100.00%
United States
Disaggregation of Revenue [Line Items]
Total subscription revenue	$ 28,292	$ 20,952
United States | Geographic concentration risk [Member]
Disaggregation of Revenue [Line Items]
Percentage of revenue	63.00%	64.00%
Israel
Disaggregation of Revenue [Line Items]
Total subscription revenue	$ 893	$ 633
Israel | Geographic concentration risk [Member]
Disaggregation of Revenue [Line Items]
Percentage of revenue	2.00%	2.00%
Rest of world
Disaggregation of Revenue [Line Items]
Total subscription revenue	$ 15,902	$ 11,236
Rest of world | Geographic concentration risk [Member]
Disaggregation of Revenue [Line Items]
Percentage of revenue	35.00%	34.00%

Revenue Recognition - Summary_3

Revenue Recognition - Summary of Table Represents a Rollforward of Deferred Contract Acquisition Costs (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020
Deferred Policy Acquisition Costs Disclosures [Abstract]
Beginning balance	$ 8,196	$ 5,989
Additions to deferred contract acquisition costs	2,362	821
Amortization of Deferred contract acquisition costs	(978)	(660)
Ending balance	9,580	6,150
Deferred contract acquisition costs (to be recognized in next 12 months)			$ 3,655	$ 3,247	$ 2,501
Deferred contract acquisition costs, noncurrent			5,925	4,949	3,649
Total deferred contract acquisition costs	$ 9,580	$ 6,150	$ 9,580	$ 8,196	$ 6,150

Short-Term Investments - Summar

Short-Term Investments - Summary of Short Term Investments (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Schedule of short term investments [Line Items]
Amortized cost	$ 459,076	$ 433,664
Gross unrealized gains	36	46
Gross unrealized losses	(135)	(115)
Estimated fair value	458,977	433,595
Bank deposits [Member]
Schedule of short term investments [Line Items]
Amortized cost	133,878	133,386
Estimated fair value	133,878	133,386
Certificates of deposit [Member]
Schedule of short term investments [Line Items]
Amortized cost	6,884	10,802
Gross unrealized gains	5	20
Gross unrealized losses	0	(1)
Estimated fair value	6,889	10,821
Commercial paper [Member]
Schedule of short term investments [Line Items]
Amortized cost	41,403	34,150
Gross unrealized gains	7	3
Gross unrealized losses	(9)	(2)
Estimated fair value	41,401	34,151
Corporate debt securities [Member]
Schedule of short term investments [Line Items]
Amortized cost	158,654	128,694
Gross unrealized gains	11	11
Gross unrealized losses	(104)	(82)
Estimated fair value	158,561	128,623
Municipal securities [Member]
Schedule of short term investments [Line Items]
Amortized cost	55,374	54,238
Gross unrealized gains	7	7
Gross unrealized losses	(6)	(12)
Estimated fair value	55,375	54,233
Government and agency debt [Member]
Schedule of short term investments [Line Items]
Amortized cost	62,883	72,394
Gross unrealized gains	6	5
Gross unrealized losses	(16)	(18)
Estimated fair value	62,873	72,381
Marketable securities [Member]
Schedule of short term investments [Line Items]
Amortized cost	325,198	300,278
Gross unrealized gains	36	46
Gross unrealized losses	(135)	(115)
Estimated fair value	$ 325,099	$ 300,209

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Fair Value, by Balance Sheet Grouping (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	$ 105,755	$ 111,080
Total financial assets	105,755	111,080
Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	1,002	274
Total financial assets	460,309	434,617
Total financial liabilities	220	16
Level 2 | Short-term Investments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	458,977	433,595
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	106,757	111,354
Total financial assets	566,064	545,697
Total financial liabilities	220	16
Fair Value | Short-term Investments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	458,977	433,595
Prepaid Expenses and Other Current Assets [Member] | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Restricted bank deposits included in assets	14	14
Prepaid Expenses and Other Current Assets [Member] | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Restricted bank deposits included in assets	14	14
Prepaid Expenses and Other Current Assets [Member] | Designated as Hedging Instrument [Member] | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Foreign Currency Contract, Asset, Fair Value Disclosure	64	468
Prepaid Expenses and Other Current Assets [Member] | Designated as Hedging Instrument [Member] | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Foreign Currency Contract, Asset, Fair Value Disclosure	64	468
Prepaid Expenses and Other Current Assets [Member] | Not Designated as Hedging Instrument [Member] | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Foreign Currency Contract, Asset, Fair Value Disclosure		2
Prepaid Expenses and Other Current Assets [Member] | Not Designated as Hedging Instrument [Member] | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Foreign Currency Contract, Asset, Fair Value Disclosure		2
Accrued Expenses And Other Current Liabilites [Member] | Designated as Hedging Instrument [Member] | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Foreign Currency Contracts, Liability, Fair Value Disclosure	213	16
Accrued Expenses And Other Current Liabilites [Member] | Designated as Hedging Instrument [Member] | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Foreign Currency Contracts, Liability, Fair Value Disclosure	213	16
Accrued Expenses And Other Current Liabilites [Member] | Not Designated as Hedging Instrument [Member] | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Foreign Currency Contracts, Liability, Fair Value Disclosure	7
Accrued Expenses And Other Current Liabilites [Member] | Not Designated as Hedging Instrument [Member] | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Foreign Currency Contracts, Liability, Fair Value Disclosure	7
Bank deposits | Level 2 | Short-term Investments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	133,878	133,386
Bank deposits | Fair Value | Short-term Investments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	133,878	133,386
Money market funds | Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	105,755	111,080
Money market funds | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	105,755	111,080
Certificates of deposit | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents		274
Certificates of deposit | Level 2 | Short-term Investments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	6,889	10,821
Certificates of deposit | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents		274
Certificates of deposit | Fair Value | Short-term Investments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	6,889	10,821
Commercial paper | Level 2 | Short-term Investments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	41,401	34,151
Commercial paper | Fair Value | Short-term Investments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	41,401	34,151
Corporate debt securities | Level 2 | Short-term Investments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	158,561	128,623
Corporate debt securities | Fair Value | Short-term Investments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	158,561	128,623
Municipal securities | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	1,002
Municipal securities | Level 2 | Short-term Investments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	55,375	54,233
Municipal securities | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	1,002
Municipal securities | Fair Value | Short-term Investments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	55,375	54,233
Government and agency debt | Level 2 | Short-term Investments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	62,873	72,381
Government and agency debt | Fair Value | Short-term Investments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	62,873	72,381
Other Noncurrent Assets [Member] | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Restricted bank deposits included in assets	252	264
Other Noncurrent Assets [Member] | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Restricted bank deposits included in assets	$ 252	$ 264

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) - Level 3 - USD ($)	Mar. 31, 2021	Dec. 31, 2020
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total financial assets	$ 0	$ 0
Total financial liabilities	$ 0	$ 0

Derivative Financial Instrume_3

Derivative Financial Instruments and Hedging - Disclosure of Notional Amount of Derivatives By Hedging Designation (Detail) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Derivatives, Fair Value [Line Items]
Total derivative instruments	$ 24,049	$ 11,494
Foreign currency contracts [Member] | Derivatives designated as hedging instruments [Member]
Derivatives, Fair Value [Line Items]
Total derivative instruments	20,345	10,264
Foreign currency contracts [Member] | Derivatives not designated as hedging instruments [Member]
Derivatives, Fair Value [Line Items]
Total derivative instruments	$ 3,704	$ 1,230

Derivative Financial Instrume_4

Derivative Financial Instruments and Hedging - Derivative Instruments, Gain (Loss) (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Derivatives designated as hedging instruments [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Total gains (losses) recognized in earnings	$ 218
Derivatives not designated as hedging instruments [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Total gains (losses) recognized in earnings	107	$ (36)
Foreign Currency Contracts [Member] | Subscription–self-managed and SaaS [Member] | Derivatives designated as hedging instruments [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Total gains (losses) recognized in earnings	19
Foreign Currency Contracts [Member] | Research and development [Member] | Derivatives designated as hedging instruments [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Total gains (losses) recognized in earnings	120
Foreign Currency Contracts [Member] | Sales and marketing [Member] | Derivatives designated as hedging instruments [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Total gains (losses) recognized in earnings	36
Foreign Currency Contracts [Member] | General and administrative [Member] | Derivatives designated as hedging instruments [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Total gains (losses) recognized in earnings	43
Foreign Currency Contracts [Member] | Interest and other income, net [Member] | Derivatives not designated as hedging instruments [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Total gains (losses) recognized in earnings	$ 107	$ (36)

Derivative Financial Instrume_5

Derivative Financial Instruments and Hedging - Disclosure of Net Unrealised Gains on Foreign Currency Contracts Designated As Hedging Instruments (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Disclosure Of Net Unrealised Gains On Foreign Currency Contracts Designated As Hedging Instruments [Line Items]
Beginning Balance	$ 372	$ 35
Amount of net gains recorded in other comprehensive income	(423)	83
Amount of net gains reclassified from other comprehensive income to earnings	218	(3)
Ending Balance	(269)	$ 121
Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member]
Disclosure Of Net Unrealised Gains On Foreign Currency Contracts Designated As Hedging Instruments [Line Items]
Beginning Balance	441
Amount of net gains recorded in other comprehensive income	(393)
Amount of net gains reclassified from other comprehensive income to earnings	(218)
Ending Balance	$ (170)

Derivative Financial Instrume_6

Derivative Financial Instruments and Hedging - Additional Information (Detail) $ in Millions	Mar. 31, 2021USD ($)
Foreign Exchange Contract [Member]
Disclosure Of Net Unrealised Gains On Foreign Currency Contracts Designated As Hedging Instruments [Line Items]
Net unrealised loss on foreign currency contracts expected to be recognised in the next twelve months	$ 0.2

Condensed Consolidated Balanc_5

Condensed Consolidated Balance Sheet Components - Summary of Property and Equipment (Detail) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 10,598	$ 9,335
Less: accumulated depreciation and amortization	(5,000)	(4,372)
Property and equipment, net	5,598	4,963
Computer and software
Property, Plant and Equipment [Line Items]
Property and equipment, gross	4,638	4,079
Furniture and office equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	1,676	1,495
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 4,284	$ 3,761

Condensed Consolidated Balanc_6

Condensed Consolidated Balance Sheet Components - Summary of Accrued Expenses and Other Current Liabilities (Detail) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Balance Sheet Related Disclosures [Abstract]
Accrued compensation and benefits	$ 10,707	$ 8,799
Withholding tax from employee equity transactions to be remitted to tax authorities	8,171	9,186
Accrued expenses	4,899	3,054
Accrued expenses and other current liabilities	$ 23,777	$ 21,039

Intangible Assets, Net - Summar

Intangible Assets, Net - Summary of Intangible Assets (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Intangible Assets [Line items]
Gross Fair Value	$ 7,642	$ 7,642
Accumulated Amortization	(3,968)	(3,595)
Net Book Value	3,674	4,047
Developed technology [Member]
Intangible Assets [Line items]
Gross Fair Value	4,856	4,856
Accumulated Amortization	(2,255)	(2,064)
Net Book Value	$ 2,601	$ 2,792
Weighted- Average Remaining Useful Life	3 years 6 months	3 years 8 months 12 days
Customer relationships [Member]
Intangible Assets [Line items]
Gross Fair Value	$ 1,200	$ 1,200
Accumulated Amortization	(416)	(367)
Net Book Value	$ 784	$ 833
Weighted- Average Remaining Useful Life	3 years 10 months 24 days	4 years 2 months 12 days
Other intangible assets [Member]
Intangible Assets [Line items]
Gross Fair Value	$ 1,586	$ 1,586
Accumulated Amortization	(1,297)	(1,164)
Net Book Value	$ 289	$ 422
Weighted- Average Remaining Useful Life	6 months	9 months 18 days

Intangible Assets, Net - Additi

Intangible Assets, Net - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Intangible Assets [Line items]
Amortization expenses for intangible assets	$ 0.4	$ 0.4

Intangible Assets, Net - Summ_2

Intangible Assets, Net - Summary of Expected Future Amortization Expenses by Year Related to the Intangible Assets (Detail) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2021 (Remainder)	$ 1,009
2022	961
2023	887
2024	667
2025	150
Net Book Value	$ 3,674	$ 4,047

Leases - Additional Information

Leases - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Jan. 01, 2021
Lessee, Lease, Description [Line Items]
Operating Leases, Rent Expense, Net		$ 1,000
Operating Lease, Weighted Average Remaining Lease Term	4 years 3 months 18 days
Operating Lease, Weighted Average Discount Rate, Percent	1.30%
Total operating lease liabilities	$ 20,773		$ 22,100
Facility lease commencement [Member]
Lessee, Lease, Description [Line Items]
Additional Operating Lease Obligations	$ 2,600
Description of Lessee Leasing Arrangements, Operating Leases	lease commencing in July 2021 with the lease term ending June 2025

Leases - Components of Operatin

Leases - Components of Operating Lease Expense (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)
Lease, Cost [Abstract]
Operating lease cost	$ 1,348
Short-term lease cost	43
Variable lease cost	90
Total operating lease cost	$ 1,481

Leases - Schedule of Maturities

Leases - Schedule of Maturities of Operating Lease Liabilities - Schedule of Maturities of Operating Lease Liabilities (Detail) - USD ($) $ in Thousands	Mar. 31, 2021	Jan. 01, 2021
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
2021 (Remainder)	$ 3,824
2022	5,118
2023	4,722
2024	3,885
2025	3,031
Thereafter	803
Total operating lease payments	21,383
Less: imputed interest	(610)
Total operating lease liabilities	$ 20,773	$ 22,100

Leases - Supplemental Cash Flow

Leases - Supplemental Cash Flow Information related to Operating Lease (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)
Leases [Abstract]
Cash paid for operating leases	$ 1,163

Leases - Schedule of Minimum Le

Leases - Schedule of Minimum Lease Payments Under Operating Leases (Detail) $ in Thousands	Dec. 31, 2020USD ($)
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
2021	$ 5,475
2022	5,931
2023	5,429
2024	4,607
2025	3,389
Thereafter	803
Total	$ 25,634

Commitments and Contingencies -

Commitments and Contingencies - Summary of Outstanding Non-cancelable Purchase Obligations (Detail) $ in Thousands	Mar. 31, 2021USD ($)
Commitments and Contingencies Disclosure [Abstract]
2021 (Remainder)	$ 6,814
2022	16,179
2023	13,488
2024	10,000
2025	31,000
Total	$ 77,481

Commitments and Contingencies_2

Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Research and Development Costs	$ 13,836	$ 9,295
Grants [Member] | Israeli Innovation Authority [Member]
Maximum additional payments as a grant recipient	$ 6,000

Shareholders' Equity and Equi_3

Shareholders' Equity and Equity Incentive Plans - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	Jan. 01, 2021	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Total intrinsic value of options exercised		$ 75,439	$ 3,300
Share-based compensation expense		$ 11,750	$ 1,956
2020 Plan [Member]
Share-based payment arrangement, increase of authorized shares	5,307,818
Employee Share Purchase Plan [Member]
Share-based payment arrangement, increase of authorized shares	922,570
Number of shares purchased		0
Employee Stock Option [Member]
Weighted average grant date fair value of options granted		$ 42	$ 9.95
Unrecognized share based compensation cost related to unvested share options		$ 121,700
Unrecognized share based compensation cost expected to be recognised period		3 years 2 months 12 days
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period		697,450
RSUs unvested		1,474,695		818,945

Shareholders' Equity and Equi_4

Shareholders' Equity and Equity Incentive Plans - Summary of Stock Option Activity (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
Outstanding Share Options, Beginning balance	13,075,489
Outstanding Share Options, Granted	30,000
Outstanding Share Options, Exercised	(1,305,571)
Outstanding Share Options, Forfeited	(80,960)
Outstanding Share Options, Ending balance	11,718,958		13,075,489
Outstanding Share Options, Exercisable	5,206,706
Weighted Average Exercise Price Per Share, Beginning balance	$ 6.50
Weighted Average Exercise Price Per Share, Granted	65.96
Weighted Average Exercise Price Per Share, Exercised	1.75
Weighted Average Exercise Price Per Share, Forfeited	13.74
Weighted Average Exercise Price Per Share, Ending balance	7.14		$ 6.50
Weighted Average Exercise Price Per Share, Exercisable	$ 2.10
Weighted Average Remaining Contractual Life	6 years 10 months 24 days		6 years 10 months 24 days
Weighted Average Remaining Contractual Life, Exercisable	5 years
Aggregate Intrinsic Value, Beginning balance	$ 736,478
Aggregate Intrinsic Value, Exercised	75,439	$ 3,300
Aggregate Intrinsic Value, Ending balance	436,988		$ 736,478
Aggregate Intrinsic Value, Exercisable	$ 220,111

Shareholders' Equity and Equi_5

Shareholders' Equity and Equity Incentive Plans - Summary of Restricted Ordinary Shares (Detail) - Restricted Stock [Member]	3 Months Ended
	Mar. 31, 2021$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested RSUs, Beginning balance | shares	818,945
Unvested RSUs, Granted | shares	697,450
Unvested RSUs, Canceled/Forfeited | shares	(41,700)
Unvested RSUs, Ending balance | shares	1,474,695
Weighted Average Grant Date Fair Value Per Share, Beginning balance | $ / shares	$ 48.38
Weighted Average Grant Date Fair Value Per Share, Granted | $ / shares	64.33
Weighted Average Grant Date Fair Value Per Share, Canceled/Forfeited | $ / shares	65.84
Weighted Average Grant Date Fair Value Per Share, Ending balance | $ / shares	$ 55.43

Shareholders' Equity and Equi_6

Shareholders' Equity and Equity Incentive Plans - Summary of Ordinary Shares Reserved for Future Issuance (Detail)	Mar. 31, 2021shares
Class of Stock [Line Items]
Common Stock Reserved for Future Issuance	30,983,206
2020 Plan [Member]
Class of Stock [Line Items]
Common Stock Reserved for Future Issuance	14,667,334
Employee Stock Purchase Plan [Member]
Class of Stock [Line Items]
Common Stock Reserved for Future Issuance	3,022,570
Employee Stock Option [Member]
Class of Stock [Line Items]
Common Stock Reserved for Future Issuance	11,718,958
Restricted Stock [Member]
Class of Stock [Line Items]
Common Stock Reserved for Future Issuance	1,474,695
Ordinary Shares [Member]
Class of Stock [Line Items]
Common Stock Reserved for Future Issuance	99,649

Shareholders' Equity and Equi_7

Shareholders' Equity and Equity Incentive Plans - Summary of Stock-based Compensation Expense (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 11,750	$ 1,956
Cost of revenue [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	762	140
Research and development [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	1,829	766
Sales and marketing [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	2,723	673
General and administrative [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 6,436	$ 377

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) - Summary of Changes In Accumulated Other Comprehensive (Loss) Income (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Changes in Accumulated Other Comprehensive Income [Line items]
Beginning Balance	$ 372	$ 35
Other comprehensive income (loss) before reclassifications	(423)	83
Net realized losses (gains) reclassified from accumulated other comprehensive income (loss)	(218)	3
Other comprehensive income (loss)	(641)	86
Ending Balance	(269)	121
Net Unrealized Gains (losses) on Available-for-Sale Marketable Securities [Member]
Changes in Accumulated Other Comprehensive Income [Line items]
Beginning Balance	(69)	35
Other comprehensive income (loss) before reclassifications	(30)	(54)
Net realized losses (gains) reclassified from accumulated other comprehensive income (loss)		3
Other comprehensive income (loss)	(30)	(51)
Ending Balance	(99)	(16)
Net Unrealized Gains (losses) on Derivatives Designated as Hedging Instruments [Member]
Changes in Accumulated Other Comprehensive Income [Line items]
Beginning Balance	441	0
Other comprehensive income (loss) before reclassifications	(393)	137
Net realized losses (gains) reclassified from accumulated other comprehensive income (loss)	(218)
Other comprehensive income (loss)	(611)	137
Ending Balance	$ (170)	$ 137

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Provision for income taxes	$ (2,357)	$ 590
Income Tax Examination, Years under Examination	2015 2016 2017 2018
Unrecognized tax benefits	$ 3,100		$ 2,700
Unrecognized tax benefit increase in current year tax positions	$ 400

Net Loss Per Share Attributab_3

Net Loss Per Share Attributable to Ordinary Shareholders - Summary of Computation of Basic and Diluted Net Loss Per Share Attributable to Ordinary Shareholders (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Numerator:
Net loss	$ (7,895)	$ (2,125)
Denominator:
Weighted-average shares used in computing net loss per share attributable to ordinary shareholders, basic and diluted	92,679,756	28,154,185
Net loss per share attributable to ordinary shareholders, basic and diluted	$ (0.09)	$ (0.08)

Net Loss Per Share Attributab_4

Net Loss Per Share Attributable to Ordinary Shareholders - Summary of Shares Excluded From the Computation of Diluted Net Loss Per Share Attributable to Ordinary Shareholders (Detail) - shares	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares excluded from computation of diluted net loss per share	13,824,826	65,428,390
Convertible preferred shares [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares excluded from computation of diluted net loss per share	0	52,063,647
Outstanding share options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares excluded from computation of diluted net loss per share	12,504,417	13,095,644
Unvested RSUs [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares excluded from computation of diluted net loss per share	1,164,446	0
Share purchase rights under the ESPP [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares excluded from computation of diluted net loss per share	23,652	0
Issuable ordinary shares related to business combination [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares excluded from computation of diluted net loss per share	132,311	269,099