JFrog (FROG) 10-Q 6 Aug 21 2021 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2021	Jul. 30, 2021
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
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		95,887,493

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 259,220		$ 164,461
Short-term investments	356,005		433,595
Accounts receivable, net	36,070		37,048
Deferred contract acquisition costs	3,952		3,247
Prepaid expenses and other current assets	13,288		14,210
Total current assets	668,535		652,561
Property and equipment, net	6,231		4,963
Deferred contract acquisition costs, noncurrent	6,524		4,949
Operating lease right-of-use assets	19,231		0
Intangible assets, net	3,302		4,047
Goodwill	17,320		17,320
Other assets, noncurrent	7,665		5,391
Total assets	728,808		689,231
Current liabilities:
Accounts payable	9,742		9,911
Accrued expenses and other current liabilities	17,316		21,039
Operating lease liabilities	4,751		0
Deferred revenue	102,752		91,750
Total current liabilities	134,561		122,700
Deferred revenue, noncurrent	16,413		11,087
Operating lease liabilities, noncurrent	14,747		0
Other liabilities, noncurrent	1,140		1,550
Total liabilities	166,861		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 June 30, 2021 and December 31, 2020	0		0
Ordinary shares, NIS 0.01 par value per share, 500,000,000 shares authorized; 93,988,276 and 92,112,447 shares issued and outstanding as of June 30, 2021 and December 31, 2020, respectively	262		257
Additional paid-in capital	657,509		628,054
Accumulated other comprehensive income	9		372
Accumulated deficit	(95,833)		(74,789)
Total shareholders' equity (deficit)	561,947	$ 559,398	553,894
Total liabilities, convertible preferred shares and shareholders' equity (deficit)	$ 728,808		$ 689,231

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - ₪ / shares	Jun. 30, 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	93,988,276	92,112,447
Common stock Outstanding	93,988,276	92,112,447

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Revenue:
Total subscription revenue	$ 48,657	$ 36,431	$ 93,744	$ 69,252
Cost of revenue:
Total cost of revenue—subscription	9,071	6,689	17,498	13,093
Gross profit	39,586	29,742	76,246	56,159
Operating expenses:
Research and development	16,688	9,776	30,524	19,071
Sales and marketing	22,026	13,882	41,791	27,905
General and administrative	15,103	4,746	28,774	9,944
Total operating expenses	53,817	28,404	101,089	56,920
Operating income (loss)	(14,231)	1,338	(24,843)	(761)
Interest and other income, net	346	574	706	1,138
Income (loss) before income taxes	(13,885)	1,912	(24,137)	377
Income tax expense (benefit)	(736)	213	(3,093)	803
Net income (loss)	(13,149)	1,699	(21,044)	(426)
Undistributed earnings attributable to participating securities	0	(1,699)	0	0
Net income (loss) attributable to ordinary shareholders	$ (13,149)	$ 0	$ (21,044)	$ (426)
Net income (loss) per share attributable to ordinary shareholders:
Basic	$ (0.14)	$ 0	$ (0.23)	$ (0.02)
Diluted	$ (0.14)	$ 0	$ (0.23)	$ (0.02)
Weighted-average shares used in computing net income (loss) per share attributable to ordinary shareholders:
Basic	93,665,527	28,339,824	93,175,364	28,247,005
Diluted	93,665,527	38,105,657	93,175,364	28,247,005
Subscription—self-managed and SaaS
Revenue:
Total subscription revenue	$ 45,312	$ 33,161	$ 86,650	$ 63,458
Cost of revenue:
Total cost of revenue—subscription	8,881	6,475	17,117	12,665
License—self-managed
Revenue:
Total subscription revenue	3,345	3,270	7,094	5,794
Cost of revenue:
Total cost of revenue—subscription	$ 190	$ 214	$ 381	$ 428

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (13,149)	$ 1,699	$ (21,044)	$ (426)
Other comprehensive income (loss), net of tax:
Unrealized gain on available-for-sale marketable securities, net	66	346	36	295
Unrealized gain (loss) on derivative instruments, net	212	322	(399)	459
Other comprehensive income (loss)	278	668	(363)	754
Comprehensive income (loss)	$ (12,871)	$ 2,367	$ (21,407)	$ 328

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)		439,695
Issuance of ordinary shares upon exercise of share options	906	$ 1		905
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	4,739			4,739
Other comprehensive income (loss), net of tax	754					754
Net income (loss)	(426)						(426)
Balance (in shares) at Jun. 30, 2020		28,473,128						52,063,647
Balance at Jun. 30, 2020	(27,461)	$ 81		37,479		789	(65,810)	$ 175,844
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
Issuance of ordinary shares upon exercise of share options (in shares)		196,485
Issuance of ordinary shares upon exercise of share options	510	$ 1		509
Share-based compensation expense	2,783			2,783
Other comprehensive income (loss), net of tax	668					668
Net income (loss)	1,699						1,699
Balance (in shares) at Jun. 30, 2020		28,473,128						52,063,647
Balance at Jun. 30, 2020	(27,461)	$ 81		37,479		789	(65,810)	$ 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)	1,826,006	1,826,006
Issuance of ordinary shares upon exercise of share options	$ 3,606	$ 5		3,601
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	25,854			25,854
Other comprehensive income (loss), net of tax	(363)					(363)
Net income (loss)	(21,044)						(21,044)
Balance (in shares) at Jun. 30, 2021		93,988,276
Balance at Jun. 30, 2021	561,947	$ 262		657,509		9	(95,833)
Balance (in shares) at Mar. 31, 2021		93,467,841
Balance at Mar. 31, 2021	559,398	$ 261		642,090		(269)	(82,684)
Issuance of ordinary shares upon exercise of share options (in shares)		520,435
Issuance of ordinary shares upon exercise of share options	1,316	$ 1		1,315
Share-based compensation expense	14,104			14,104
Other comprehensive income (loss), net of tax	278					278
Net income (loss)	(13,149)						(13,149)
Balance (in shares) at Jun. 30, 2021		93,988,276
Balance at Jun. 30, 2021	$ 561,947	$ 262		$ 657,509		$ 9	$ (95,833)
[1]	Amount less than $ 1

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Cash flows from operating activities:
Net income (loss)	$ (21,044)	$ (426)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	2,082	1,755
Share-based compensation expense	25,854	4,739
Non-cash operating lease expense	2,658	0
Net amortization of premium or discount on investments	2,886	424
Changes in operating assets and liabilities:
Accounts receivable	978	(2,427)
Prepaid expenses and other assets	(1,373)	(1,320)
Deferred contract acquisition costs	(2,280)	(445)
Accounts payable	(169)	781
Accrued expenses and other liabilities	4,706	2,154
Operating lease liabilities	(2,642)	0
Deferred revenue	16,328	629
Net cash provided by operating activities	27,984	5,864
Cash flows from investing activities:
Purchases of short-term investments	(151,214)	(86,055)
Maturities and sales of short-term investments	225,954	69,075
Purchases of property and equipment	(2,274)	(1,506)
Prepayment for purchase of intangible asset	(600)	0
Net cash provided by (used in) investing activities	71,866	(18,486)
Cash flows from financing activities:
Payments of deferred offering costs	0	(2,474)
Proceeds from exercise of share options	3,606	906
Payments to tax authorities from employee equity transactions, net	(8,707)	0
Net cash used in financing activities	(5,101)	(1,568)
Net increase (decrease) in cash, cash equivalents, and restricted cash	94,749	(14,190)
Cash, cash equivalents, and restricted cash—beginning of period	164,739	40,943
Cash, cash equivalents, and restricted cash—end of period	$ 259,488	$ 26,753

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 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	$ 259,220	$ 26,461
Restricted cash included in prepaid expenses and other current assets	13	14
Restricted cash included in other assets, noncurrent	255	278
Total cash, cash equivalents, and restricted cash	$ 259,488	$ 26,753

Organization and Description of

Organization and Description of Business	6 Months Ended
	Jun. 30, 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	6 Months Ended
	Jun. 30, 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 June 30, 2021 and the Company’s consolidated results of operations and convertible preferred shares and shareholders’ equity (deficit) for the three and six months ended June 30, 2021 and 2020, and cash flows for the six months ended June 30, 2021 and 2020. The results for the three and six months ended June 30, 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. 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 six months ended June 30, 2021, except as noted below. Emerging Growth Company Status The Company is an emerging growth company, as defined in the Jumpstart Our Business Startups Act (“JOBS Act”). Under the JOBS Act, emerging growth companies can delay adopting new or revised accounting standards issued subsequent to the enactment of the JOBS Act until those standards apply to private companies. The Company has elected to use this extended transition period for complying with new or revised accounting standards that have different effective dates for public and private companies until the earlier of the date that it (i) is no longer an emerging growth company or (ii) affirmatively and irrevocably opts out of the extended transition period provided in the JOBS Act. As a result, the condensed consolidated financial statements may not be comparable to companies that comply with the new or revised accounting pronouncements as of public company effective dates. On the last business day of the Company’s second quarter in fiscal 2021, the aggregate market value of the Company’s ordinary shares held by its non-affiliate shareholders exceeded $ 700 million. As a result, as of December 31, 2021, the Company will be considered a large accelerated filer as defined in Rule 12b-2 of the Securities Exchange Act of 1934 and the Company will cease to be an emerging growth company. Accordingly, the Company will no longer be exempt from the auditor attestation requirements under Section 404(b) of the Sarbanes-Oxley Act of 2002, as amended, and the Company’s independent registered public accounting firm will evaluate and report on the effectiveness of internal control over financial reporting. Further, following the loss of emerging growth company status, the Company will be required to comply with any new or revised accounting pronouncements as of public company effective dates. Recently Adopted Accounting Pronouncements In reliance on the extended transition period allowed for emerging growth companies under the JOBS Act, the Company has elected to use the adoption dates discussed below. 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	6 Months Ended
	Jun. 30, 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 June 30, Six Months Ended June 30, 2021 2020 2021 2020 Amount Percentage Amount Percentage Amount Percentage Amount Percentage (in thousands, except percentages) Self-managed subscription $ 37,190 76 % $ 28,635 79 % $ 72,013 77 % $ 55,108 80 % Subscription 33,845 69 25,365 70 64,919 69 49,314 71 License 3,345 7 3,270 9 7,094 8 5,794 9 SaaS 11,467 24 7,796 21 21,731 23 14,144 20 Total subscription revenue $ 48,657 100 % $ 36,431 100 % $ 93,744 100 % $ 69,252 100 % The following table summarizes revenue by region based on the shipping address of customers: Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Amount Percentage Amount Percentage Amount Percentage Amount Percentage (in thousands, except percentages) United States $ 30,392 62 % $ 23,553 65 % $ 58,684 63 % $ 44,505 64 % Israel 1,165 3 661 2 2,058 2 1,294 2 Rest of world 17,100 35 12,217 33 33,002 35 23,453 34 Total subscription revenue $ 48,657 100 % $ 36,431 100 % $ 93,744 100 % $ 69,252 100 % Contract Balances Of the $ 121.0 million and $ 78.6 million of deferred revenue recorded as of March 31, 2021 and 2020, respectively, the Company recognized $ 37.3 million and $ 27.2 million as revenue during the three months ended June 30, 2021 and 2020 , respectively. Of the $ 102.8 million and $ 82.3 million of deferred revenue recorded as of December 31, 2020 and 2019, respectively, the Company recognized $ 57.3 million and $ 48.5 million as revenue during the six months ended June 30, 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 June 30, 2021 , the aggregate amount of the transaction price allocated to remaining performance obligations was $ 127.0 million, which consists of billed considerations of $ 119.2 million and unbilled considerations of $ 7.8 million, that the Company expects to recognize as revenue. As of June 30, 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 June 30, Six Months Ended June 30, 2021 2020 2021 2020 (in thousands) Beginning balance $ 9,580 $ 6,150 $ 8,196 $ 5,989 Additions to deferred contract acquisition costs 2,002 964 4,364 1,785 Amortization of deferred contract acquisition costs ( 1,106 ) ( 680 ) ( 2,084 ) ( 1,340 ) Ending balance $ 10,476 $ 6,434 $ 10,476 $ 6,434 Deferred contract acquisition costs (to be recognized in next 12 months) $ 3,952 $ 2,669 $ 3,952 $ 2,669 Deferred contract acquisition costs, noncurrent 6,524 3,765 6,524 3,765 Total deferred contract acquisition costs $ 10,476 $ 6,434 $ 10,476 $ 6,434

Short-Term Investments

Short-Term Investments	6 Months Ended
	Jun. 30, 2021
Investments, All Other Investments [Abstract]
Short-Term Investments	4. Short-Term Investments Short-term investments consisted of the following: June 30, 2021 Amortized Gross Gross Estimated (in thousands) Bank deposits $ 104,697 $ — $ — $ 104,697 Certificates of deposit 2,410 2 — 2,412 Commercial paper 35,967 7 ( 3 ) 35,971 Corporate debt securities 113,331 3 ( 30 ) 113,304 Municipal securities 57,094 4 ( 8 ) 57,090 Government and agency debt 42,539 2 ( 10 ) 42,531 Marketable securities 251,341 18 ( 51 ) 251,308 Total short-term investments $ 356,038 $ 18 $ ( 51 ) $ 356,005 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 June 30, 2021 and December 31, 2020 are temporary in nature. See Note 12, Accumulated Other Comprehensive Income , for the realized gains or losses from available-for-sale marketable securities that were reclassified out of accumulated other comprehensive income (“AOCI”) during the periods presented. As of June 30, 2021 , the contractual maturities of the Company’s marketable securities were all less than one year.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 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: June 30, 2021 Fair Value Level 1 Level 2 (in thousands) Financial Assets: Money market funds $ 127,844 $ 127,844 $ — Commercial paper 2,500 — 2,500 Municipal securities 150 — 150 Cash equivalents 130,494 127,844 2,650 Bank deposits 104,697 — 104,697 Certificates of deposit 2,412 — 2,412 Commercial paper 35,971 — 35,971 Corporate debt securities 113,304 — 113,304 Municipal securities 57,090 — 57,090 Government and agency debt 42,531 — 42,531 Short-term investments 356,005 — 356,005 Foreign currency contracts designated as hedging instruments included in prepaid expenses and other current assets 98 — 98 Foreign currency contracts not designated as hedging instruments included in prepaid expenses and other current assets 1 — 1 Restricted bank deposits included in prepaid expenses and other current assets 13 — 13 Restricted bank deposits included in other assets, noncurrent 255 — 255 Total financial assets $ 486,866 $ 127,844 $ 359,022 Financial Liabilities: Foreign currency contracts designated as hedging instruments included in accrued expenses and other current liabilities $ 49 $ — $ 49 Foreign currency contracts not designated as hedging instruments included in accrued expenses and other current liabilities 17 — 17 Total financial liabilities $ 66 $ — $ 66 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 June 30, 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	6 Months Ended
	Jun. 30, 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: June 30, 2021 December 31, 2020 (in thousands) Derivatives Designated as Hedging Instruments: Foreign currency contracts $ 18,462 $ 10,264 Derivatives Not Designated as Hedging Instruments: Foreign currency contracts 3,801 1,230 Total derivative instruments $ 22,263 $ 11,494 Effect of Foreign Currency Contracts on the Condensed Consolidated Statements of Operations Derivative instruments that hedge the exposure to variability in expected future cash flows are designated as cash flow hedges. The Company records changes in the fair value of these derivatives in AOCI in the Condensed Consolidated Balance Sheets, until the forecasted transaction occurs. Upon occurrence, the Company reclassifies the related gain or loss on the derivative to the same financial statement line item in the Condensed Consolidated Statements of Operations to which the derivative relates. From time to time, the Company may discontinue cash flow hedges and record the related amount in interest and other income, net, on the Condensed Consolidated Statements of Operations. Derivative instruments that hedge the exposure to variability in the fair value of assets or liabilities are not currently designated as hedges for financial reporting purposes. The Company records changes in the fair value of these derivatives in interest and other income, net in 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 as Hedging Instruments Derivatives Not Designated as Hedging Instruments Three Months Ended June 30, Six Months Ended June 30, Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 2021 2020 2021 2020 Condensed Statement of Operations Location: (in thousands) Cost of revenue: subscription–self-managed and SaaS $ 2 $ ( 3 ) $ 21 $ ( 3 ) $ — $ — $ — $ — Research and development 12 ( 20 ) 132 ( 20 ) — — — — Sales and marketing 4 ( 7 ) 40 ( 7 ) — — — — General and administrative 4 ( 8 ) 47 ( 8 ) — — — — Interest and other income, net 8 — 8 — ( 38 ) ( 74 ) 69 ( 110 ) Total gains (losses) recognized in earnings $ 30 $ ( 38 ) $ 248 $ ( 38 ) $ ( 38 ) $ ( 74 ) $ 69 $ ( 110 ) Effect of Foreign Currency Contracts on Accumulated Other Comprehensive Income Net unrealized gains (losses) of foreign currency contracts designated as hedging instruments, net of tax, are recorded in AOCI. See Note 12, Accumulated Other Comprehensive Income , for the effect on other comprehensive income (loss) and the reclassification out of AOCI during the periods presented. All of net deferred gains in AOCI as of June 30, 2021 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.

Condensed Consolidated Balanc_3

Condensed Consolidated Balance Sheet Components	6 Months Ended
	Jun. 30, 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: June 30, 2021 December 31, 2020 (in thousands) Computer and software $ 5,235 $ 4,079 Furniture and office equipment 1,952 1,495 Leasehold improvements 4,703 3,761 Property and equipment, gross 11,890 9,335 Less: accumulated depreciation and amortization ( 5,659 ) ( 4,372 ) Property and equipment, net $ 6,231 $ 4,963 Accrued Expenses and Other Current Liabilities Accrued expenses and other current liabilities consisted of the following: June 30, 2021 December 31, 2020 (in thousands) Accrued compensation and benefits $ 13,407 $ 8,799 Withholding tax from employee equity transactions to be remitted to tax authorities 479 9,186 Accrued expenses 3,430 3,054 Accrued expenses and other current liabilities $ 17,316 $ 21,039

Intangible Assets, Net

Intangible Assets, Net	6 Months Ended
	Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets, Net	8. Intangible Assets, Net Intangible assets consisted of the following as of June 30, 2021: Gross Fair Accumulated Net Book Weighted- (in thousands) (in years) Developed technology $ 4,856 $ ( 2,445 ) $ 2,411 3.3 Customer relationships 1,200 ( 466 ) 734 3.7 Other intangible assets 1,586 ( 1,429 ) 157 0.3 Total $ 7,642 $ ( 4,340 ) $ 3,302 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 June 30, 2021 and 2020 , and $ 0.7 million and $ 0.8 million for the six months ended June 30, 2021 and 2020, respectively. 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 June 30, 2021 are as follows: June 30, 2021 (in thousands) Year Ending December 31, 2021 (Remainder) $ 637 2022 961 2023 887 2024 667 2025 150 Total $ 3,302

Leases

Leases	6 Months Ended
	Jun. 30, 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 June 30, 2021 Six Months Ended June 30, 2021 (in thousands) Operating lease cost $ 1,317 $ 2,665 Short-term lease cost 21 64 Variable lease cost 105 195 Total operating lease cost $ 1,443 $ 2,924 Rent expense under the previous lease accounting standard was $ 1.1 million and $ 2.1 million during the three and six months ended June 30, 2020. Supplementary cash flow information related to operating leases was as follows: Six Months Ended June 30, 2021 (in thousands) Cash paid for operating leases $ 2,552 As of June 30, 2021 , the weighted-average discount rate is 1.3 % and the weighted-average remaining term is 4.1 years. Maturities of the Company’s operating lease liabilities as of June 30, 2021 were as follows: June 30, 2021 (in thousands) Year Ending December 31, 2021 (Remainder) $ 2,381 2022 5,167 2023 4,761 2024 3,900 2025 3,031 Thereafter 803 Total operating lease payments 20,043 Less: imputed interest ( 545 ) Total operating lease liabilities $ 19,498 As of June 30, 2021 , the Company had additional operating lease obligations of $ 2.7 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	6 Months Ended
	Jun. 30, 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 June 30, 2021, the Company had outstanding non-cancelable purchase obligations with a term of 12 months or longer as follows: June 30, 2021 (in thousands) Year Ending December 31, 2021 (Remainder) $ 2,237 2022 15,601 2023 13,490 2024 10,000 2025 31,000 Total $ 72,328 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	6 Months Ended
	Jun. 30, 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 ( 1,826,006 ) $ 1.97 $ 96,474 Forfeited ( 269,020 ) $ 15.36 Balance as of June 30, 2021 11,010,463 $ 7.20 6.5 $ 422,309 Exercisable as of June 30, 2021 5,287,820 $ 2.49 5.0 $ 227,536 The weighted-average grant date fair value of options granted during the six months ended June 30, 2021 was $ 42.00 , and $ 12.45 and $ 11.39 during the three and six months ended June 30, 2020 , respectively. No share options were granted during the three months ended June 30, 2021. The total intrinsic value of option exercised during the six months ended June 30, 2020 was $ 6.6 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 1,198,082 $ 54.40 Canceled/forfeited ( 122,800 ) $ 65.07 Unvested as of June 30, 2021 1,894,227 $ 51.11 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 six months ended June 30, 2021. Shares Reserved for Future Issuance The Company has the following ordinary shares reserved for future issuance: June 30, 2021 Outstanding share options 11,010,463 Outstanding RSUs 1,894,227 Issuable ordinary shares related to business combinations 99,649 Shares available for future issuance under the 2020 Plan 14,435,862 Shares available for future issuance under ESPP 3,022,570 Total ordinary shares reserved 30,462,771 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 June 30, Six Months Ended June 30, 2021 2020 2021 2020 (in thousands) Cost of revenue: subscription–self-managed and SaaS $ 824 $ 199 $ 1,586 $ 339 Research and development 2,680 930 4,509 1,696 Sales and marketing 3,522 1,097 6,245 1,770 General and administrative 7,078 557 13,514 934 Total share-based compensation expense $ 14,104 $ 2,783 $ 25,854 $ 4,739 As of June 30, 2021 , unrecognized share-based compensation cost related to unvested share-based compensation awards was $ 120.6 million, which is expected to be recognized over a weighted-average period of 3.2 years.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income	6 Months Ended
	Jun. 30, 2021
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive Income	12. Accumulated Other Comprehensive Income The following table summarizes the changes in AOCI 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 income (loss) before reclassifications 40 ( 151 ) ( 111 ) Net realized gains reclassified from AOCI ( 4 ) ( 248 ) ( 252 ) Other comprehensive income (loss) 36 ( 399 ) ( 363 ) Balance as of June 30, 2021 $ ( 33 ) $ 42 $ 9 Net Unrealized Net Unrealized Total (in thousands) Balance as of December 31, 2019 $ 35 $ — $ 35 Other comprehensive income before reclassifications 282 421 703 Net realized losses reclassified from AOCI 13 38 51 Other comprehensive income 295 459 754 Balance as of June 30, 2020 $ 330 $ 459 $ 789

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 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 $ 0.7 million and $ 3.1 million for the three and six months ended June 30, 2021, respectively, and income tax expense was $ 0.2 million and $ 0.8 million for the three and six months ended June 30, 2020, respectively. The income tax expense (benefit) for the periods 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 six months ended June 30, 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 June 30, 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 $ 3.7 million and $ 2.7 million as of June 30, 2021 and December 31, 2020, respectively. The net increase to our gross unrecognized tax benefit is primarily the result of $ 1.0 million increase in current year tax positions. As of June 30, 2021 , the Company does not expect its unrecognized tax benefits to change significantly within the next twelve months.

Net Income (Loss) Per Share Att

Net Income (Loss) Per Share Attributable to Ordinary Shareholders	6 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
Net Income (Loss) Per Share Attributable to Ordinary Shareholders	14. Net Income (Loss) Per Share Attributable to Ordinary Shareholders The following table sets forth the computation of basic and diluted net income (loss) per share attributable to ordinary shareholders for the periods presented: Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 (in thousands, except share and per share data) Numerator: Net income (loss) $ ( 13,149 ) $ 1,699 $ ( 21,044 ) $ ( 426 ) Less: undistributed earnings attributable to participating securities — ( 1,699 ) — — Net income (loss) attributable to ordinary shareholders $ ( 13,149 ) $ — $ ( 21,044 ) $ ( 426 ) Denominator: Weighted-average shares used in computing net income (loss) per share attributable to ordinary shareholders, basic 93,665,527 28,339,824 93,175,364 28,247,005 Weighted-average effect of dilutive securities: Outstanding share options — 9,613,645 — — Issuable ordinary shares related to business combination — 152,188 — — Weighted-average shares used in computing net income (loss) per share attributable to ordinary shareholders, diluted 93,665,527 38,105,657 93,175,364 28,247,005 Net income (loss) per share attributable to ordinary shareholders: Basic $ ( 0.14 ) $ — $ ( 0.23 ) $ ( 0.02 ) Diluted $ ( 0.14 ) $ — $ ( 0.23 ) $ ( 0.02 ) The potential shares of ordinary shares that were excluded from the computation of diluted net income (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 June 30, Six Months Ended June 30, 2021 2020 2021 2020 Convertible preferred shares — — — 52,063,647 Outstanding share options 11,434,553 1,704,351 11,966,795 13,345,123 Unvested RSUs 1,724,973 — 1,446,258 — Share purchase rights under the ESPP 70,956 — 47,827 — Issuable ordinary shares related to business combination 99,649 — 115,890 234,197 Total 13,330,131 1,704,351 13,576,770 65,642,967

Subsequent Event

Subsequent Event	6 Months Ended
	Jun. 30, 2021
Subsequent Events [Abstract]
Subsequent Event	15. Subsequent Event On July 19, 2021, the Company acquired 100 % of equity interest in Vdoo Connected Trust Ltd. (“Vdoo”), a privately-held company in Israel, which provides a product security platform for automating all software security tasks throughout the entire product lifecycle. The acquisition accelerates the Company’s security technology expansion, aiming to deliver a holistic security solution as part of its Platform. The total consideration in exchange for Vdoo’s outstanding shares and certain post-acquisition service was approximately $ 286.5 million, subject to adjustments, comprised of approximately $ 199.8 million in cash, net of cash acquired, and 1,934,198 shares of the Company’s ordinary shares. Although the Company has not determined the fair value of assets acquired and liabilities assumed in this acquisition, it expects that the substantial majority of the purchase price will be allocated to goodwill and intangible assets.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 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 June 30, 2021 and the Company’s consolidated results of operations and convertible preferred shares and shareholders’ equity (deficit) for the three and six months ended June 30, 2021 and 2020, and cash flows for the six months ended June 30, 2021 and 2020. The results for the three and six months ended June 30, 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.
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 six months ended June 30, 2021, except as noted below. Emerging Growth Company Status The Company is an emerging growth company, as defined in the Jumpstart Our Business Startups Act (“JOBS Act”). Under the JOBS Act, emerging growth companies can delay adopting new or revised accounting standards issued subsequent to the enactment of the JOBS Act until those standards apply to private companies. The Company has elected to use this extended transition period for complying with new or revised accounting standards that have different effective dates for public and private companies until the earlier of the date that it (i) is no longer an emerging growth company or (ii) affirmatively and irrevocably opts out of the extended transition period provided in the JOBS Act. As a result, the condensed consolidated financial statements may not be comparable to companies that comply with the new or revised accounting pronouncements as of public company effective dates. On the last business day of the Company’s second quarter in fiscal 2021, the aggregate market value of the Company’s ordinary shares held by its non-affiliate shareholders exceeded $ 700 million. As a result, as of December 31, 2021, the Company will be considered a large accelerated filer as defined in Rule 12b-2 of the Securities Exchange Act of 1934 and the Company will cease to be an emerging growth company. Accordingly, the Company will no longer be exempt from the auditor attestation requirements under Section 404(b) of the Sarbanes-Oxley Act of 2002, as amended, and the Company’s independent registered public accounting firm will evaluate and report on the effectiveness of internal control over financial reporting. Further, following the loss of emerging growth company status, the Company will be required to comply with any new or revised accounting pronouncements as of public company effective dates.
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements In reliance on the extended transition period allowed for emerging growth companies under the JOBS Act, the Company has elected to use the adoption dates discussed below. 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.
Fair Value Measurements	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 June 30, 2021 and December 31, 2020 , the Company did no t have any assets or liabilities valued based on Level 3 valuations.
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. Derivative instruments that hedge the exposure to variability in expected future cash flows are designated as cash flow hedges. The Company records changes in the fair value of these derivatives in AOCI in the Condensed Consolidated Balance Sheets, until the forecasted transaction occurs. Upon occurrence, the Company reclassifies the related gain or loss on the derivative to the same financial statement line item in the Condensed Consolidated Statements of Operations to which the derivative relates. From time to time, the Company may discontinue cash flow hedges and record the related amount in interest and other income, net, on the Condensed Consolidated Statements of Operations. Derivative instruments that hedge the exposure to variability in the fair value of assets or liabilities are not currently designated as hedges for financial reporting purposes. The Company records changes in the fair value of these derivatives in interest and other income, net in the Condensed Consolidated Statements of Operations.
Leases	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.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	6 Months Ended
	Jun. 30, 2021
Revenue from Contract with Customer [Abstract]
Summary of table presents revenue as follows	The following table presents revenue by category: Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Amount Percentage Amount Percentage Amount Percentage Amount Percentage (in thousands, except percentages) Self-managed subscription $ 37,190 76 % $ 28,635 79 % $ 72,013 77 % $ 55,108 80 % Subscription 33,845 69 25,365 70 64,919 69 49,314 71 License 3,345 7 3,270 9 7,094 8 5,794 9 SaaS 11,467 24 7,796 21 21,731 23 14,144 20 Total subscription revenue $ 48,657 100 % $ 36,431 100 % $ 93,744 100 % $ 69,252 100 %
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 June 30, Six Months Ended June 30, 2021 2020 2021 2020 Amount Percentage Amount Percentage Amount Percentage Amount Percentage (in thousands, except percentages) United States $ 30,392 62 % $ 23,553 65 % $ 58,684 63 % $ 44,505 64 % Israel 1,165 3 661 2 2,058 2 1,294 2 Rest of world 17,100 35 12,217 33 33,002 35 23,453 34 Total subscription revenue $ 48,657 100 % $ 36,431 100 % $ 93,744 100 % $ 69,252 100 %
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 June 30, Six Months Ended June 30, 2021 2020 2021 2020 (in thousands) Beginning balance $ 9,580 $ 6,150 $ 8,196 $ 5,989 Additions to deferred contract acquisition costs 2,002 964 4,364 1,785 Amortization of deferred contract acquisition costs ( 1,106 ) ( 680 ) ( 2,084 ) ( 1,340 ) Ending balance $ 10,476 $ 6,434 $ 10,476 $ 6,434 Deferred contract acquisition costs (to be recognized in next 12 months) $ 3,952 $ 2,669 $ 3,952 $ 2,669 Deferred contract acquisition costs, noncurrent 6,524 3,765 6,524 3,765 Total deferred contract acquisition costs $ 10,476 $ 6,434 $ 10,476 $ 6,434

Short-Term Investments (Tables)

Short-Term Investments (Tables)	6 Months Ended
	Jun. 30, 2021
Investments, All Other Investments [Abstract]
Summary of short term investments	Short-term investments consisted of the following: June 30, 2021 Amortized Gross Gross Estimated (in thousands) Bank deposits $ 104,697 $ — $ — $ 104,697 Certificates of deposit 2,410 2 — 2,412 Commercial paper 35,967 7 ( 3 ) 35,971 Corporate debt securities 113,331 3 ( 30 ) 113,304 Municipal securities 57,094 4 ( 8 ) 57,090 Government and agency debt 42,539 2 ( 10 ) 42,531 Marketable securities 251,341 18 ( 51 ) 251,308 Total short-term investments $ 356,038 $ 18 $ ( 51 ) $ 356,005 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)	6 Months Ended
	Jun. 30, 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: June 30, 2021 Fair Value Level 1 Level 2 (in thousands) Financial Assets: Money market funds $ 127,844 $ 127,844 $ — Commercial paper 2,500 — 2,500 Municipal securities 150 — 150 Cash equivalents 130,494 127,844 2,650 Bank deposits 104,697 — 104,697 Certificates of deposit 2,412 — 2,412 Commercial paper 35,971 — 35,971 Corporate debt securities 113,304 — 113,304 Municipal securities 57,090 — 57,090 Government and agency debt 42,531 — 42,531 Short-term investments 356,005 — 356,005 Foreign currency contracts designated as hedging instruments included in prepaid expenses and other current assets 98 — 98 Foreign currency contracts not designated as hedging instruments included in prepaid expenses and other current assets 1 — 1 Restricted bank deposits included in prepaid expenses and other current assets 13 — 13 Restricted bank deposits included in other assets, noncurrent 255 — 255 Total financial assets $ 486,866 $ 127,844 $ 359,022 Financial Liabilities: Foreign currency contracts designated as hedging instruments included in accrued expenses and other current liabilities $ 49 $ — $ 49 Foreign currency contracts not designated as hedging instruments included in accrued expenses and other current liabilities 17 — 17 Total financial liabilities $ 66 $ — $ 66 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)	6 Months Ended
	Jun. 30, 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: June 30, 2021 December 31, 2020 (in thousands) Derivatives Designated as Hedging Instruments: Foreign currency contracts $ 18,462 $ 10,264 Derivatives Not Designated as Hedging Instruments: Foreign currency contracts 3,801 1,230 Total derivative instruments $ 22,263 $ 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 as Hedging Instruments Derivatives Not Designated as Hedging Instruments Three Months Ended June 30, Six Months Ended June 30, Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 2021 2020 2021 2020 Condensed Statement of Operations Location: (in thousands) Cost of revenue: subscription–self-managed and SaaS $ 2 $ ( 3 ) $ 21 $ ( 3 ) $ — $ — $ — $ — Research and development 12 ( 20 ) 132 ( 20 ) — — — — Sales and marketing 4 ( 7 ) 40 ( 7 ) — — — — General and administrative 4 ( 8 ) 47 ( 8 ) — — — — Interest and other income, net 8 — 8 — ( 38 ) ( 74 ) 69 ( 110 ) Total gains (losses) recognized in earnings $ 30 $ ( 38 ) $ 248 $ ( 38 ) $ ( 38 ) $ ( 74 ) $ 69 $ ( 110 )
Disclosure of net unrealised gains on foreign currency contracts designated as hedging instruments	Net unrealized gains (losses) of foreign currency contracts designated as hedging instruments, net of tax, are recorded in AOCI. See Note 12, Accumulated Other Comprehensive Income , for the effect on other comprehensive income (loss) and the reclassification out of AOCI during the periods presented.

Condensed Consolidated Balanc_4

Condensed Consolidated Balance Sheet Components (Tables)	6 Months Ended
	Jun. 30, 2021
Balance Sheet Related Disclosures [Abstract]
Summary of property and equipment	Property and equipment, net consisted of the following: June 30, 2021 December 31, 2020 (in thousands) Computer and software $ 5,235 $ 4,079 Furniture and office equipment 1,952 1,495 Leasehold improvements 4,703 3,761 Property and equipment, gross 11,890 9,335 Less: accumulated depreciation and amortization ( 5,659 ) ( 4,372 ) Property and equipment, net $ 6,231 $ 4,963
Summary of accrued expenses and other current liabilities	Accrued expenses and other current liabilities consisted of the following: June 30, 2021 December 31, 2020 (in thousands) Accrued compensation and benefits $ 13,407 $ 8,799 Withholding tax from employee equity transactions to be remitted to tax authorities 479 9,186 Accrued expenses 3,430 3,054 Accrued expenses and other current liabilities $ 17,316 $ 21,039

Intangible Assets, Net (Tables)

Intangible Assets, Net (Tables)	6 Months Ended
	Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of intangible assets	Intangible assets consisted of the following as of June 30, 2021: Gross Fair Accumulated Net Book Weighted- (in thousands) (in years) Developed technology $ 4,856 $ ( 2,445 ) $ 2,411 3.3 Customer relationships 1,200 ( 466 ) 734 3.7 Other intangible assets 1,586 ( 1,429 ) 157 0.3 Total $ 7,642 $ ( 4,340 ) $ 3,302 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 June 30, 2021 are as follows: June 30, 2021 (in thousands) Year Ending December 31, 2021 (Remainder) $ 637 2022 961 2023 887 2024 667 2025 150 Total $ 3,302

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2021
Leases [Abstract]
Components of Operating Lease Expense	Components of operating lease expense were as follows: Three Months Ended June 30, 2021 Six Months Ended June 30, 2021 (in thousands) Operating lease cost $ 1,317 $ 2,665 Short-term lease cost 21 64 Variable lease cost 105 195 Total operating lease cost $ 1,443 $ 2,924
Supplementary Cash Flow Information Related to Operating Leases	Supplementary cash flow information related to operating leases was as follows: Six Months Ended June 30, 2021 (in thousands) Cash paid for operating leases $ 2,552
Schedule of Maturities of Operating Lease Liabilities	As of June 30, 2021 , the weighted-average discount rate is 1.3 % and the weighted-average remaining term is 4.1 years. Maturities of the Company’s operating lease liabilities as of June 30, 2021 were as follows: June 30, 2021 (in thousands) Year Ending December 31, 2021 (Remainder) $ 2,381 2022 5,167 2023 4,761 2024 3,900 2025 3,031 Thereafter 803 Total operating lease payments 20,043 Less: imputed interest ( 545 ) Total operating lease liabilities $ 19,498
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

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 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 June 30, 2021, the Company had outstanding non-cancelable purchase obligations with a term of 12 months or longer as follows: June 30, 2021 (in thousands) Year Ending December 31, 2021 (Remainder) $ 2,237 2022 15,601 2023 13,490 2024 10,000 2025 31,000 Total $ 72,328

Shareholders' Equity and Equi_2

Shareholders' Equity and Equity Incentive Plans (Tables)	6 Months Ended
	Jun. 30, 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 ( 1,826,006 ) $ 1.97 $ 96,474 Forfeited ( 269,020 ) $ 15.36 Balance as of June 30, 2021 11,010,463 $ 7.20 6.5 $ 422,309 Exercisable as of June 30, 2021 5,287,820 $ 2.49 5.0 $ 227,536
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 1,198,082 $ 54.40 Canceled/forfeited ( 122,800 ) $ 65.07 Unvested as of June 30, 2021 1,894,227 $ 51.11
Summary of ordinary shares reserved for future issuance	The Company has the following ordinary shares reserved for future issuance: June 30, 2021 Outstanding share options 11,010,463 Outstanding RSUs 1,894,227 Issuable ordinary shares related to business combinations 99,649 Shares available for future issuance under the 2020 Plan 14,435,862 Shares available for future issuance under ESPP 3,022,570 Total ordinary shares reserved 30,462,771
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 June 30, Six Months Ended June 30, 2021 2020 2021 2020 (in thousands) Cost of revenue: subscription–self-managed and SaaS $ 824 $ 199 $ 1,586 $ 339 Research and development 2,680 930 4,509 1,696 Sales and marketing 3,522 1,097 6,245 1,770 General and administrative 7,078 557 13,514 934 Total share-based compensation expense $ 14,104 $ 2,783 $ 25,854 $ 4,739

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Tables)	6 Months Ended
	Jun. 30, 2021
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Summary of changes in AOCI	The following table summarizes the changes in AOCI 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 income (loss) before reclassifications 40 ( 151 ) ( 111 ) Net realized gains reclassified from AOCI ( 4 ) ( 248 ) ( 252 ) Other comprehensive income (loss) 36 ( 399 ) ( 363 ) Balance as of June 30, 2021 $ ( 33 ) $ 42 $ 9 Net Unrealized Net Unrealized Total (in thousands) Balance as of December 31, 2019 $ 35 $ — $ 35 Other comprehensive income before reclassifications 282 421 703 Net realized losses reclassified from AOCI 13 38 51 Other comprehensive income 295 459 754 Balance as of June 30, 2020 $ 330 $ 459 $ 789

Net Income (Loss) Per Share A_2

Net Income (Loss) Per Share Attributable to Ordinary Shareholders (Tables)	6 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
Summary of computation of basic and diluted net income (loss) per share attributable to ordinary shareholders	The following table sets forth the computation of basic and diluted net income (loss) per share attributable to ordinary shareholders for the periods presented: Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 (in thousands, except share and per share data) Numerator: Net income (loss) $ ( 13,149 ) $ 1,699 $ ( 21,044 ) $ ( 426 ) Less: undistributed earnings attributable to participating securities — ( 1,699 ) — — Net income (loss) attributable to ordinary shareholders $ ( 13,149 ) $ — $ ( 21,044 ) $ ( 426 ) Denominator: Weighted-average shares used in computing net income (loss) per share attributable to ordinary shareholders, basic 93,665,527 28,339,824 93,175,364 28,247,005 Weighted-average effect of dilutive securities: Outstanding share options — 9,613,645 — — Issuable ordinary shares related to business combination — 152,188 — — Weighted-average shares used in computing net income (loss) per share attributable to ordinary shareholders, diluted 93,665,527 38,105,657 93,175,364 28,247,005 Net income (loss) per share attributable to ordinary shareholders: Basic $ ( 0.14 ) $ — $ ( 0.23 ) $ ( 0.02 ) Diluted $ ( 0.14 ) $ — $ ( 0.23 ) $ ( 0.02 )
Summary of shares excluded from the computation of diluted net income (loss) per share attributable to ordinary shareholders	The potential shares of ordinary shares that were excluded from the computation of diluted net income (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 June 30, Six Months Ended June 30, 2021 2020 2021 2020 Convertible preferred shares — — — 52,063,647 Outstanding share options 11,434,553 1,704,351 11,966,795 13,345,123 Unvested RSUs 1,724,973 — 1,446,258 — Share purchase rights under the ESPP 70,956 — 47,827 — Issuable ordinary shares related to business combination 99,649 — 115,890 234,197 Total 13,330,131 1,704,351 13,576,770 65,642,967

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2021	Jan. 01, 2021	Dec. 31, 2020
Operating lease right-of-use assets	$ 19,231	$ 21,900	$ 0
Operating lease liabilities	19,498	$ 22,100
Minimum [Member]
Aggregate market value of ordinary shares held by non-affiliate	$ 700,000

Revenue Recognition - Additiona

Revenue Recognition - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019
Disaggregation of Revenue [Line Items]
Deferred Revenue					$ 121	$ 102.8	$ 78.6	$ 82.3
Deferred Revenue, Revenue Recognized	$ 37.3	$ 27.2	$ 57.3	$ 48.5
Revenue, Remaining Performance Obligation	$ 127		$ 127
Revenue, Remaining Performance Obligation, Percentage	82.00%		82.00%
Billed Revenues [Member]
Disaggregation of Revenue [Line Items]
Revenue, Remaining Performance Obligation	$ 119.2		$ 119.2
Unbilled Revenues [Member]
Disaggregation of Revenue [Line Items]
Revenue, Remaining Performance Obligation	$ 7.8		$ 7.8

Revenue Recognition - Summary o

Revenue Recognition - Summary of Table Presents Revenue as Follows (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Disaggregation of Revenue [Line Items]
Total subscription revenue	$ 48,657	$ 36,431	$ 93,744	$ 69,252
Sale revenue [Member]
Disaggregation of Revenue [Line Items]
Percentage of revenue	100.00%	100.00%	100.00%	100.00%
Self-managed subscription [Member]
Disaggregation of Revenue [Line Items]
Total subscription revenue	$ 37,190	$ 28,635	$ 72,013	$ 55,108
Self-managed subscription [Member] | Sale revenue [Member]
Disaggregation of Revenue [Line Items]
Percentage of revenue	76.00%	79.00%	77.00%	80.00%
Subscription—self-managed and SaaS
Disaggregation of Revenue [Line Items]
Total subscription revenue	$ 33,845	$ 25,365	$ 64,919	$ 49,314
Subscription—self-managed and SaaS | Sale revenue [Member]
Disaggregation of Revenue [Line Items]
Percentage of revenue	69.00%	70.00%	69.00%	71.00%
License [Member]
Disaggregation of Revenue [Line Items]
Total subscription revenue	$ 3,345	$ 3,270	$ 7,094	$ 5,794
License [Member] | Sale revenue [Member]
Disaggregation of Revenue [Line Items]
Percentage of revenue	7.00%	9.00%	8.00%	9.00%
SaaS [Member]
Disaggregation of Revenue [Line Items]
Total subscription revenue	$ 11,467	$ 7,796	$ 21,731	$ 14,144
SaaS [Member] | Sale revenue [Member]
Disaggregation of Revenue [Line Items]
Percentage of revenue	24.00%	21.00%	23.00%	20.00%

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		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Disaggregation of Revenue [Line Items]
Total subscription revenue	$ 48,657	$ 36,431	$ 93,744	$ 69,252
Geographic concentration risk [Member]
Disaggregation of Revenue [Line Items]
Percentage of revenue	100.00%	100.00%	100.00%	100.00%
United States
Disaggregation of Revenue [Line Items]
Total subscription revenue	$ 30,392	$ 23,553	$ 58,684	$ 44,505
United States | Geographic concentration risk [Member]
Disaggregation of Revenue [Line Items]
Percentage of revenue	62.00%	65.00%	63.00%	64.00%
Israel
Disaggregation of Revenue [Line Items]
Total subscription revenue	$ 1,165	$ 661	$ 2,058	$ 1,294
Israel | Geographic concentration risk [Member]
Disaggregation of Revenue [Line Items]
Percentage of revenue	3.00%	2.00%	2.00%	2.00%
Rest of world
Disaggregation of Revenue [Line Items]
Total subscription revenue	$ 17,100	$ 12,217	$ 33,002	$ 23,453
Rest of world | Geographic concentration risk [Member]
Disaggregation of Revenue [Line Items]
Percentage of revenue	35.00%	33.00%	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		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Deferred Policy Acquisition Costs Disclosures [Abstract]
Beginning balance	$ 9,580	$ 6,150	$ 8,196	$ 5,989
Additions to deferred contract acquisition costs	2,002	964	4,364	1,785
Amortization of deferred contract acquisition costs	(1,106)	(680)	(2,084)	(1,340)
Ending balance	10,476	6,434	10,476	6,434
Deferred contract acquisition costs (to be recognized in next 12 months)	3,952	2,669	3,952	2,669	$ 3,247
Deferred contract acquisition costs, noncurrent	6,524	3,765	6,524	3,765	4,949
Total deferred contract acquisition costs	$ 10,476	$ 6,434	$ 10,476	$ 6,434	$ 8,196

Short-Term Investments - Summar

Short-Term Investments - Summary of Short Term Investments (Detail) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Schedule of short term investments [Line Items]
Amortized cost	$ 356,038	$ 433,664
Gross unrealized gains	18	46
Gross unrealized losses	(51)	(115)
Estimated fair value	356,005	433,595
Bank deposits [Member]
Schedule of short term investments [Line Items]
Amortized cost	104,697	133,386
Estimated fair value	104,697	133,386
Certificates of deposit [Member]
Schedule of short term investments [Line Items]
Amortized cost	2,410	10,802
Gross unrealized gains	2	20
Gross unrealized losses	0	(1)
Estimated fair value	2,412	10,821
Commercial paper [Member]
Schedule of short term investments [Line Items]
Amortized cost	35,967	34,150
Gross unrealized gains	7	3
Gross unrealized losses	(3)	(2)
Estimated fair value	35,971	34,151
Corporate debt securities [Member]
Schedule of short term investments [Line Items]
Amortized cost	113,331	128,694
Gross unrealized gains	3	11
Gross unrealized losses	(30)	(82)
Estimated fair value	113,304	128,623
Municipal securities [Member]
Schedule of short term investments [Line Items]
Amortized cost	57,094	54,238
Gross unrealized gains	4	7
Gross unrealized losses	(8)	(12)
Estimated fair value	57,090	54,233
Government and agency debt [Member]
Schedule of short term investments [Line Items]
Amortized cost	42,539	72,394
Gross unrealized gains	2	5
Gross unrealized losses	(10)	(18)
Estimated fair value	42,531	72,381
Marketable securities [Member]
Schedule of short term investments [Line Items]
Amortized cost	251,341	300,278
Gross unrealized gains	18	46
Gross unrealized losses	(51)	(115)
Estimated fair value	$ 251,308	$ 300,209

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Fair Value, by Balance Sheet Grouping (Detail) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	$ 127,844	$ 111,080
Total financial assets	127,844	111,080
Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	2,650	274
Total financial assets	359,022	434,617
Total financial liabilities	66	16
Level 2 | Short-term Investments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	356,005	433,595
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	130,494	111,354
Total financial assets	486,866	545,697
Total financial liabilities	66	16
Fair Value | Short-term Investments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	356,005	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	13	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	13	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	98	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	98	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	1	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	1	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	49	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	49	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	17
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	17
Bank deposits | Level 2 | Short-term Investments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	104,697	133,386
Bank deposits | Fair Value | Short-term Investments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	104,697	133,386
Money market funds | Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	127,844	111,080
Money market funds | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	127,844	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	2,412	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	2,412	10,821
Commercial paper | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	2,500
Commercial paper | Level 2 | Short-term Investments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	35,971	34,151
Commercial paper | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	2,500
Commercial paper | Fair Value | Short-term Investments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	35,971	34,151
Corporate debt securities | Level 2 | Short-term Investments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	113,304	128,623
Corporate debt securities | Fair Value | Short-term Investments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	113,304	128,623
Municipal securities | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	150
Municipal securities | Level 2 | Short-term Investments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	57,090	54,233
Municipal securities | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	150
Municipal securities | Fair Value | Short-term Investments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	57,090	54,233
Government and agency debt | Level 2 | Short-term Investments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	42,531	72,381
Government and agency debt | Fair Value | Short-term Investments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	42,531	72,381
Other Noncurrent Assets [Member] | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Restricted bank deposits included in assets	255	264
Other Noncurrent Assets [Member] | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Restricted bank deposits included in assets	$ 255	$ 264

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) - Level 3 - USD ($)	Jun. 30, 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	Jun. 30, 2021	Dec. 31, 2020
Derivatives, Fair Value [Line Items]
Total derivative instruments	$ 22,263	$ 11,494
Foreign currency contracts [Member] | Derivatives designated as hedging instruments [Member]
Derivatives, Fair Value [Line Items]
Total derivative instruments	18,462	10,264
Foreign currency contracts [Member] | Derivatives not designated as hedging instruments [Member]
Derivatives, Fair Value [Line Items]
Total derivative instruments	$ 3,801	$ 1,230

Derivative Financial Instrume_4

Derivative Financial Instruments and Hedging - Derivative Instruments, Gain (Loss) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Derivatives designated as hedging instruments [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Total gains (losses) recognized in earnings	$ 30	$ (38)	$ 248	$ (38)
Derivatives not designated as hedging instruments [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Total gains (losses) recognized in earnings	(38)	(74)	69	(110)
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	2	(3)	21	(3)
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	12	(20)	132	(20)
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	4	(7)	40	(7)
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	4	(8)	47	(8)
Foreign Currency Contracts [Member] | Interest and other income, net [Member] | Derivatives designated as hedging instruments [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Total gains (losses) recognized in earnings	8	0	8	0
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	$ (38)	$ (74)	$ 69	$ (110)

Condensed Consolidated Balanc_5

Condensed Consolidated Balance Sheet Components - Summary of Property and Equipment (Detail) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 11,890	$ 9,335
Less: accumulated depreciation and amortization	(5,659)	(4,372)
Property and equipment, net	6,231	4,963
Computer and software
Property, Plant and Equipment [Line Items]
Property and equipment, gross	5,235	4,079
Furniture and office equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	1,952	1,495
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 4,703	$ 3,761

Condensed Consolidated Balanc_6

Condensed Consolidated Balance Sheet Components - Summary of Accrued Expenses and Other Current Liabilities (Detail) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Balance Sheet Related Disclosures [Abstract]
Accrued compensation and benefits	$ 13,407	$ 8,799
Withholding tax from employee equity transactions to be remitted to tax authorities	479	9,186
Accrued expenses	3,430	3,054
Accrued expenses and other current liabilities	$ 17,316	$ 21,039

Intangible Assets, Net - Summar

Intangible Assets, Net - Summary of Intangible Assets (Detail) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Intangible Assets [Line items]
Gross Fair Value	$ 7,642	$ 7,642
Accumulated Amortization	(4,340)	(3,595)
Net Book Value	3,302	4,047
Developed technology [Member]
Intangible Assets [Line items]
Gross Fair Value	4,856	4,856
Accumulated Amortization	(2,445)	(2,064)
Net Book Value	$ 2,411	$ 2,792
Weighted- Average Remaining Useful Life	3 years 3 months 18 days	3 years 8 months 12 days
Customer relationships [Member]
Intangible Assets [Line items]
Gross Fair Value	$ 1,200	$ 1,200
Accumulated Amortization	(466)	(367)
Net Book Value	$ 734	$ 833
Weighted- Average Remaining Useful Life	3 years 8 months 12 days	4 years 2 months 12 days
Other intangible assets [Member]
Intangible Assets [Line items]
Gross Fair Value	$ 1,586	$ 1,586
Accumulated Amortization	(1,429)	(1,164)
Net Book Value	$ 157	$ 422
Weighted- Average Remaining Useful Life	3 months 18 days	9 months 18 days

Intangible Assets, Net - Additi

Intangible Assets, Net - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Intangible Assets [Line items]
Amortization expenses for intangible assets	$ 0.4	$ 0.4	$ 0.7	$ 0.8

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	Jun. 30, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2021 (Remainder)	$ 637
2022	961
2023	887
2024	667
2025	150
Net Book Value	$ 3,302	$ 4,047

Leases - Components of Operatin

Leases - Components of Operating Lease Expense (Detail) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2021
Lease, Cost [Abstract]
Operating lease cost	$ 1,317	$ 2,665
Short-term lease cost	21	64
Variable lease cost	105	195
Total operating lease cost	$ 1,443	$ 2,924

Leases - Additional Information

Leases - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Jan. 01, 2021
Lessee, Lease, Description [Line Items]
Operating Leases, Rent Expense, Net	$ 1,100		$ 2,100
Operating Lease, Weighted Average Remaining Lease Term		4 years 1 month 6 days
Operating Lease, Weighted Average Discount Rate, Percent		1.30%
Total operating lease liabilities		$ 19,498		$ 22,100
Facility lease commencement [Member]
Lessee, Lease, Description [Line Items]
Additional Operating Lease Obligations		$ 2,700
Description of Lessee Leasing Arrangements, Operating Leases		lease commencing in July 2021 with the lease term ending June 2025

Leases - Supplemental Cash Flow

Leases - Supplemental Cash Flow Information related to Operating Lease (Detail) $ in Thousands	6 Months Ended
	Jun. 30, 2021USD ($)
Leases [Abstract]
Cash paid for operating leases	$ 2,552

Leases - Schedule of Maturities

Leases - Schedule of Maturities of Operating Lease Liabilities - Schedule of Maturities of Operating Lease Liabilities (Detail) - USD ($) $ in Thousands	Jun. 30, 2021	Jan. 01, 2021
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
2021 (Remainder)	$ 2,381
2022	5,167
2023	4,761
2024	3,900
2025	3,031
Thereafter	803
Total operating lease payments	20,043
Less: imputed interest	(545)
Total operating lease liabilities	$ 19,498	$ 22,100

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	Jun. 30, 2021USD ($)
Commitments and Contingencies Disclosure [Abstract]
2021 (Remainder)	$ 2,237
2022	15,601
2023	13,490
2024	10,000
2025	31,000
Total	$ 72,328

Commitments and Contingencies_2

Commitments and Contingencies - Additional Information (Detail) $ in Millions	6 Months Ended
	Jun. 30, 2021USD ($)
Grants [Member] | Israeli Innovation Authority [Member]
Maximum additional payments as a grant recipient	$ 6

Shareholders' Equity and Equi_3

Shareholders' Equity and Equity Incentive Plans - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	Jan. 01, 2021	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Number of shares options granted during period				30,000
Total intrinsic value of options exercised				$ 96,474	$ 6,600
Share-based compensation expense		$ 14,104	$ 2,783	$ 25,854	$ 4,739
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			$ 12.45	$ 42	$ 11.39
Number of shares options granted during period		0
Unrecognized share-based compensation cost		$ 120,600		$ 120,600
Unrecognized share based compensation cost expected to be recognised period				3 years 2 months 12 days

Shareholders' Equity and Equi_4

Shareholders' Equity and Equity Incentive Plans - Summary of Stock Option Activity (Detail) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 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	(1,826,006)
Outstanding Share Options, Forfeited	(269,020)
Outstanding Share Options, Ending balance	11,010,463		13,075,489
Outstanding Share Options, Exercisable	5,287,820
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	1.97
Weighted Average Exercise Price Per Share, Forfeited	15.36
Weighted Average Exercise Price Per Share, Ending balance	7.20		$ 6.50
Weighted Average Exercise Price Per Share, Exercisable	$ 2.49
Weighted Average Remaining Contractual Life	6 years 6 months		6 years 9 months 18 days
Weighted Average Remaining Contractual Life, Exercisable	5 years
Aggregate Intrinsic Value, Beginning balance	$ 736,478
Aggregate Intrinsic Value, Exercised	96,474	$ 6,600
Aggregate Intrinsic Value, Ending balance	422,309		$ 736,478
Aggregate Intrinsic Value, Exercisable	$ 227,536

Shareholders' Equity and Equi_5

Shareholders' Equity and Equity Incentive Plans - Summary of Restricted Ordinary Shares (Detail) - Restricted Stock [Member]	6 Months Ended
	Jun. 30, 2021$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested RSUs, Beginning balance | shares	818,945
Unvested RSUs, Granted | shares	1,198,082
Unvested RSUs, Canceled/Forfeited | shares	(122,800)
Unvested RSUs, Ending balance | shares	1,894,227
Weighted Average Grant Date Fair Value Per Share, Beginning balance | $ / shares	$ 48.38
Weighted Average Grant Date Fair Value Per Share, Granted | $ / shares	54.40
Weighted Average Grant Date Fair Value Per Share, Canceled/Forfeited | $ / shares	65.07
Weighted Average Grant Date Fair Value Per Share, Ending balance | $ / shares	$ 51.11

Shareholders' Equity and Equi_6

Shareholders' Equity and Equity Incentive Plans - Summary of Ordinary Shares Reserved for Future Issuance (Detail)	Jun. 30, 2021shares
Class of Stock [Line Items]
Common Stock Reserved for Future Issuance	30,462,771
2020 Plan [Member]
Class of Stock [Line Items]
Common Stock Reserved for Future Issuance	14,435,862
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	11,010,463
Restricted Stock [Member]
Class of Stock [Line Items]
Common Stock Reserved for Future Issuance	1,894,227
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		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 14,104	$ 2,783	$ 25,854	$ 4,739
Cost of revenue [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	824	199	1,586	339
Research and development [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	2,680	930	4,509	1,696
Sales and marketing [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	3,522	1,097	6,245	1,770
General and administrative [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 7,078	$ 557	$ 13,514	$ 934

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income - Summary of Changes In AOCI (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Changes in Accumulated Other Comprehensive Income [Line items]
Beginning Balance			$ 372	$ 35
Other comprehensive income (loss) before reclassifications			(111)	703
Net realized losses (gains) reclassified from AOCI			(252)	51
Other comprehensive income (loss)	$ 278	$ 668	(363)	754
Ending Balance	9	789	9	789
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			40	282
Net realized losses (gains) reclassified from AOCI			(4)	13
Other comprehensive income (loss)			36	295
Ending Balance	(33)	330	(33)	330
Net Unrealized Gains 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			(151)	421
Net realized losses (gains) reclassified from AOCI			(248)	38
Other comprehensive income (loss)			(399)	459
Ending Balance	$ 42	$ 459	$ 42	$ 459

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Provision for income taxes	$ (736)	$ 213	$ (3,093)	$ 803
Income Tax Examination, Years under Examination			2015 2016 2017 2018
Unrecognized tax benefits	$ 3,700		$ 3,700		$ 2,700
Unrecognized tax benefit increase in current year tax positions			$ 1,000

Net Income (Loss) Per Share A_3

Net Income (Loss) Per Share Attributable to Ordinary Shareholders - Summary of Computation of Basic and Diluted Net Income (Loss) Per Share Attributable to Ordinary Shareholders (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Numerator:
Net income (loss)	$ (13,149)	$ 1,699	$ (21,044)	$ (426)
Less: undistributed earnings attributable to participating securities	0	(1,699)	0	0
Net income (loss) attributable to ordinary shareholders	$ (13,149)	$ 0	$ (21,044)	$ (426)
Denominator:
Weighted-average shares used in computing net income (loss) per share attributable to ordinary shareholders, basic	93,665,527	28,339,824	93,175,364	28,247,005
Weighted-average effect of dilutive securities:
Outstanding share options	0	9,613,645	0	0
Issuable ordinary shares related to business combination	0	152,188	0	0
Weighted-average shares used in computing net income (loss) per share attributable to ordinary shareholders, diluted	93,665,527	38,105,657	93,175,364	28,247,005
Net income (loss) per share attributable to ordinary shareholders:
Basic	$ (0.14)	$ 0	$ (0.23)	$ (0.02)
Diluted	$ (0.14)	$ 0	$ (0.23)	$ (0.02)

Net Income (Loss) Per Share A_4

Net Income (Loss) Per Share Attributable to Ordinary Shareholders - Summary of Shares Excluded From the Computation of Diluted Net Income (Loss) Per Share Attributable to Ordinary Shareholders (Detail) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares excluded from computation of diluted net loss per share	13,330,131	1,704,351	13,576,770	65,642,967
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	0	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	11,434,553	1,704,351	11,966,795	13,345,123
Unvested RSUs [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares excluded from computation of diluted net loss per share	1,724,973	0	1,446,258	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	70,956	0	47,827	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	99,649	0	115,890	234,197

Subsequent Event - Additional I

Subsequent Event - Additional Information (Detail) - Subsequent Event [Member] - Vdoo Connected Trust Ltd. [Member] $ in Millions	Jul. 19, 2021USD ($)shares
Subsequent Event [Line Items]
Business acquistion percentage of voting capital obtained	100.00%
Business acquisition total purchase consideration	$ 286.5
Business combination purchase consideration settled through share issue | shares	1,934,198
Business acquisition payment of cash net of cash acquired cash component of purchase consideration	$ 199.8