JFrog (FROG) 10-Q 9 May 22 2022 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2022	Apr. 29, 2022
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Entity Registrant Name	JFrog Ltd.
Entity Central Index Key	0001800667
Entity File Number	001-39492
Entity Tax Identification Number	98-0680649
Document Quarterly Report	true
Document Transition Report	false
Entity Incorporation, State or Country Code	L3
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large 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	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		98,799,956

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 59,577	$ 68,284
Short-term investments	368,073	352,844
Accounts receivable, net	49,389	50,483
Deferred contract acquisition costs	5,949	5,271
Prepaid expenses and other current assets	24,363	22,140
Total current assets	507,351	499,022
Property and equipment, net	7,377	6,689
Deferred contract acquisition costs, noncurrent	10,499	9,120
Operating lease right-of-use assets	24,235	25,999
Intangible assets, net	45,138	47,980
Goodwill	247,955	247,776
Other assets, noncurrent	13,841	15,942
Total assets	856,396	852,528
Current liabilities:
Accounts payable	12,050	10,868
Accrued expenses and other current liabilities	28,891	27,954
Operating lease liabilities	7,205	7,293
Deferred revenue	134,611	129,149
Total current liabilities	182,757	175,264
Deferred revenue, noncurrent	17,772	17,957
Operating lease liabilities, noncurrent	17,943	20,014
Other liabilities, noncurrent	1,406	712
Total liabilities	219,878	213,947
Commitments and contingencies (Note 10)	0	0
Shareholders' equity:
Preferred shares, NIS 0.01 par value per share; 50,000,000 shares authorized; 0 issued and outstanding as of March 31, 2022 and December 31, 2021	0	0
Ordinary shares, NIS 0.01 par value per share, 500,000,000 shares authorized; 98,641,858 and 97,312,040 shares issued and outstanding as of March 31, 2022 and December 31, 2021, respectively	276	272
Additional paid-in capital	795,808	776,690
Accumulated other comprehensive income (loss)	(870)	611
Accumulated deficit	(158,696)	(138,992)
Total shareholders' equity (deficit)	636,518	638,581
Total liabilities, convertible preferred shares and shareholders' equity (deficit)	$ 856,396	$ 852,528

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - ₪ / shares	Mar. 31, 2022	Dec. 31, 2021
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	98,641,858	97,312,040
Common stock Outstanding	98,641,858	97,312,040

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Revenue:
Total subscription revenue	$ 63,696	$ 45,087
Cost of revenue:
Total cost of revenue—subscription	13,863	8,427
Gross profit	49,833	36,660
Operating expenses:
Research and development	27,101	13,836
Sales and marketing	29,180	19,765
General and administrative	12,691	13,671
Total operating expenses	68,972	47,272
Operating loss	(19,139)	(10,612)
Interest and other income, net	273	360
Loss before income taxes	(18,866)	(10,252)
Income tax expense (benefit)	838	(2,357)
Net loss	$ (19,704)	$ (7,895)
Net loss per share, basic and diluted	$ (0.20)	$ (0.09)
Weighted-average shares used in computing net loss per share, basic and diluted	97,883,814	92,679,756
Subscription—self-managed and SaaS
Revenue:
Total subscription revenue	$ 59,069	$ 41,338
Cost of revenue:
Total cost of revenue—subscription	13,643	8,236
License—self-managed
Revenue:
Total subscription revenue	4,627	3,749
Cost of revenue:
Total cost of revenue—subscription	$ 220	$ 191

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement of Comprehensive Income [Abstract]
Net loss	$ (19,704)	$ (7,895)
Other comprehensive income (loss), net of tax:
Unrealized gain losses on available-for-sale marketable securities, net	(717)	(30)
Unrealized losses on derivative instruments, net	(764)	(611)
Other comprehensive loss	(1,481)	(641)
Comprehensive loss	$ (21,185)	$ (8,536)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands	Total	Ordinary Shares	Additional Paid-in Capital	Accumulated Other Comprehensive Income (loss)	Accumulated Deficit
Balance (in shares) at Dec. 31, 2020		92,112,447
Balance at Dec. 31, 2020	$ 553,894	$ 257	$ 628,054	$ 372	$ (74,789)
Issuance of ordinary shares upon exercise of share options (in shares)		1,305,571
Issuance of ordinary shares upon exercise of share options	2,290	$ 4	2,286
Issuance of ordinary shares related to business combination (in shares)		49,823
Share-based compensation expense	11,750		11,750
Other comprehensive income (loss), net of tax	(641)			(641)
Net loss	(7,895)				(7,895)
Balance (in shares) at Mar. 31, 2021		93,467,841
Balance at Mar. 31, 2021	559,398	$ 261	642,090	(269)	(82,684)
Balance (in shares) at Dec. 31, 2021		97,312,040
Balance at Dec. 31, 2021	$ 638,581	$ 272	776,690	611	(138,992)
Issuance of ordinary shares upon exercise of share options (in shares)	1,017,669	1,017,669
Issuance of ordinary shares upon exercise of share options	$ 1,795	$ 3	1,792
Issuance of ordinary shares upon release of restricted share units (in shares)		109,416
Issuance of ordinary shares under the employee share purchase plan (shares)		154,550
Issuance of ordinary shares under the employee share purchase plan	3,253	$ 1	3,252
Issuance of ordinary shares related to business combination (in shares)		48,183
Share-based compensation expense	14,074		14,074
Other comprehensive income (loss), net of tax	(1,481)			(1,481)
Net loss	(19,704)				(19,704)
Balance (in shares) at Mar. 31, 2022		98,641,858
Balance at Mar. 31, 2022	$ 636,518	$ 276	$ 795,808	$ (870)	$ (158,696)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash flows from operating activities:
Net loss	$ (19,704)	$ (7,895)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	3,519	1,006
Share-based compensation expense	14,074	11,750
Non-cash operating lease expense	1,806	1,278
Net amortization of premium or discount on investments	1,628	1,343
Changes in operating assets and liabilities:
Accounts receivable	1,094	(14,375)
Prepaid expenses and other assets	(889)	(2,386)
Deferred contract acquisition costs	(2,057)	(1,384)
Accounts payable	960	(954)
Accrued expenses and other liabilities	1,524	3,658
Operating lease liabilities	(2,201)	(1,367)
Deferred revenue	5,277	18,137
Net cash provided by operating activities	5,031	8,811
Cash flows from investing activities:
Purchases of short-term investments	(92,211)	(88,580)
Maturities and sales of short-term investments	74,637	61,825
Purchases of property and equipment	(1,143)	(1,135)
Payments related to business combination	(179)	0
Net cash used in investing activities	(18,896)	(27,890)
Cash flows from financing activities:
Proceeds from exercise of share options	1,795	2,290
Proceeds from employee share purchase plan	3,253
Proceeds from employee equity transactions, net of payments to be remitted to tax authorities	107	(1,008)
Net cash provided by financing activities	5,155	1,282
Net decrease in cash, cash equivalents, and restricted cash	(8,710)	(17,797)
Cash, cash equivalents, and restricted cash—beginning of period	68,540	164,739
Cash, cash equivalents, and restricted cash—end of period	$ 59,830	$ 146,942

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021
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	$ 59,577	$ 146,676
Restricted cash included in prepaid expenses and other current assets	13	14
Restricted cash included in other assets, noncurrent	240	252
Total cash, cash equivalents, and restricted cash	$ 59,830	$ 146,942

Organization and Description of

Organization and Description of Business	3 Months Ended
	Mar. 31, 2022
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 subsi diaries, “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 that powers the software supply chain, enabling organizations to continuously deliver software updates across any system. JFrog’s platform is the critical bridge between software development and deployment of that software, paving the way for the modern DevOps paradigm. The Company enables organizations to build and release software faster and more securely while empowering developers to be more efficient. The Company’s solutions are designed to run on-premise, in public or private clouds, or in hybrid environments.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2022
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, 2021 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, 2021, included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021 filed with the SEC on February 11, 2022. In management’s opinion, the unaudited condensed consolidated financial statements have been prepared on the same basis as the annual consolidated financial statements and reflect all adjustments, which include only normal recurring adjustments necessary for the fair presentation of the Company’s financial position as of March 31, 2022 and the Company’s consolidated results of operations, shareholders’ equity, and cash flows for the three months ended March 31, 2022 and 2021. The results for the three months ended March 31, 2022 are not necessarily indicative of the results to be expected for the full year ending December 31, 2022 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 credit losses, the fair value of financial assets and liabilities, including the 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, loss contingency, t he fair value of share purchase rights granted under the Company’s employee share purchase plan, 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, 2021. There have been no significant changes to these policies during the three months ended March 31, 2022 . Geographical Information Revenue by geographical region can be found in the revenue recognition disclosure in Note 3 below. The following table presents the Company’s long-lived assets by geographic region, which consists of property and equipment, net and operating lease right-of-use assets: March 31, 2022 December 31, 2021 (in thousands) United States $ 10,516 $ 10,845 Israel 17,564 18,165 Rest of world 3,532 3,678 Total long-lived assets $ 31,612 $ 32,688

Revenue Recognition

Revenue Recognition	3 Months Ended
	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
Revenue Recognition	3. Revenue Recognition Disaggregation of Revenue The following table presents revenue by category: Three Months Ended March 31, 2022 2021 Amount Percentage of Revenue Amount Percentage of Revenue (in thousands, except percentages) Self-managed subscription $ 46,922 74 % $ 34,823 77 % Subscription 42,295 67 31,074 69 License 4,627 7 3,749 8 SaaS 16,774 26 10,264 23 Total subscription revenue $ 63,696 100 % $ 45,087 100 % The following table summarizes revenue by region based on the shipping address of customers: Three Months Ended March 31, 2022 2021 Amount Percentage of Revenue Amount Percentage of Revenue (in thousands, except percentages) United States $ 39,717 62 % $ 28,292 63 % Israel 1,623 3 893 2 Rest of world 22,356 35 15,902 35 Total subscription revenue $ 63,696 100 % $ 45,087 100 % Contract Balances Of the $ 147.1 million and $ 102.8 million of deferred revenue recorded as of December 31, 2021 and 2020, respectively, the Company recognized $ 47.9 million and $ 32.9 million as revenue during the three months ended March 31, 2022 and 2021, respectively. Remaining Performance Obligation The Company’s remaining performance obligations are comprised of product and service revenue not yet delivered. As of March 31, 2022 , the aggregate amount of the transaction price allocated to remaining performance obligations was $ 172.1 million, which consists of billed considerations of $ 152.4 million and unbilled considerations of $ 19.7 million, that the Company expects to recognize as revenue. As of March 31, 2022 , the Company expects to recognize 83 % of its remaining performance obligations as revenue over the next 12 months, and the remainder thereafter. Cost to Obtain a Contract The following table represents a rollforward of deferred contract acquisition costs: Three Months Ended March 31, 2022 2021 (in thousands) Beginning balance $ 14,391 $ 8,196 Additions to deferred contract acquisition costs 3,571 2,362 Amortization of deferred contract acquisition costs ( 1,514 ) ( 978 ) Ending balance $ 16,448 $ 9,580 Deferred contract acquisition costs (to be recognized in next 12 months) $ 5,949 $ 3,655 Deferred contract acquisition costs, noncurrent 10,499 5,925 Total deferred contract acquisition costs $ 16,448 $ 9,580

Short-Term Investments

Short-Term Investments	3 Months Ended
	Mar. 31, 2022
Investments, All Other Investments [Abstract]
Short-Term Investments	4. Short-Term Investments Short-term investments consisted of the following: March 31, 2022 Amortized Gross Gross Estimated (in thousands) Bank deposits $ 85,191 $ — $ — $ 85,191 Commercial paper 55,434 — ( 251 ) 55,183 Corporate debt securities 119,531 2 ( 444 ) 119,089 Municipal securities 70,875 — ( 143 ) 70,732 Government and agency debt 38,023 — ( 145 ) 37,878 Marketable securities 283,863 2 ( 983 ) 282,882 Total short-term investments $ 369,054 $ 2 $ ( 983 ) $ 368,073 December 31, 2021 Amortized Gross Gross Estimated (in thousands) Bank deposits $ 90,704 $ — $ — $ 90,704 Commercial paper 56,448 — ( 37 ) 56,411 Corporate debt securities 109,212 1 ( 151 ) 109,062 Municipal securities 71,046 — ( 50 ) 70,996 Government and agency debt 25,698 — ( 27 ) 25,671 Marketable securities 262,404 1 ( 265 ) 262,140 Total short-term investments $ 353,108 $ 1 $ ( 265 ) $ 352,844 As of March 31, 2022, the contractual maturities of the Company’s marketable securities were all less than one year. As of March 31, 2022 and December 31, 2021, the allowance for credit loss for the marketable securities was not material. See Note 12, Accumulated Other Comprehensive Income (Loss) , for the realized gains or losses from available-for-sale marketable securities that were reclassified out of accumulated other comprehensive income (loss) (“AOCI”) during the periods presented.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	5. Fair Value Measurements The following table presents information about the Company’s financial instruments that are measured at fair value on a recurring basis: March 31, 2022 Fair Value Level 1 Level 2 (in thousands) Financial Assets: Money market funds $ 9,585 $ 9,585 $ — Commercial paper 1,998 — 1,998 Cash equivalents 11,583 9,585 1,998 Bank deposits 85,191 — 85,191 Commercial paper 55,183 — 55,183 Corporate debt securities 119,089 — 119,089 Municipal securities 70,732 — 70,732 Government and agency debt 37,878 — 37,878 Short-term investments 368,073 — 368,073 Foreign currency contracts designated as hedging instruments included in prepaid expenses and other current assets 272 — 272 Foreign currency contracts not designated as hedging instruments included in prepaid expenses and other current assets 134 — 134 Restricted bank deposits included in prepaid expenses and other current assets 13 — 13 Restricted bank deposits included in other assets, noncurrent 240 — 240 Total financial assets $ 380,315 $ 9,585 $ 370,730 Financial Liabilities: Foreign currency contracts designated as hedging instruments included in accrued expenses and other current liabilities $ 161 $ — $ 161 Foreign currency contracts not designated as hedging instruments included in accrued expenses and other current liabilities 8 — 8 Total financial liabilities $ 169 $ — $ 169 December 31, 2021 Fair Value Level 1 Level 2 (in thousands) Financial Assets: Money market funds $ 21,670 $ 21,670 $ — Municipal securities 175 — 175 Cash equivalents 21,845 21,670 175 Bank deposits 90,704 — 90,704 Commercial paper 56,411 — 56,411 Corporate debt securities 109,062 — 109,062 Municipal securities 70,996 — 70,996 Government and agency debt 25,671 — 25,671 Short-term investments 352,844 — 352,844 Foreign currency contracts designated as hedging instruments included in prepaid expenses and other current assets 891 — 891 Foreign currency contracts not designated as hedging instruments included in prepaid expenses and other current assets 43 — 43 Restricted bank deposits included in prepaid expenses and other current assets 13 — 13 Restricted bank deposits included in other assets, noncurrent 243 — 243 Total financial assets $ 375,879 $ 21,670 $ 354,209 Financial Liabilities: Foreign currency contracts designated as hedging instruments included in accrued expenses and other current liabilities $ 16 $ — $ 16 Foreign currency contracts not designated as hedging instruments included in accrued expenses and other current liabilities 5 — 5 Total financial liabilities $ 21 $ — $ 21 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, commercial paper, corporate debt securities, municipal securities, government and agency debt, and derivative financial instruments within Level 2 because they are valued using inputs other than quoted prices which are directly or indirectly observable in the market, including readily-available pricing sources for the identical underlying security which may not be actively traded. As of March 31, 2022 and December 31, 2021 , the Company did no t have any assets or liabilities valued based on Level 3 valuations.

Derivative Financial Instrument

Derivative Financial Instruments and Hedging	3 Months Ended
	Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments and Hedging	6. Derivative Financial Instruments and Hedging The Company enters into foreign currency forward and option contracts with financial institutions to protect against foreign exchange risks, mainly the exposure to changes in the exchange rate of the New Israeli Shekel (“NIS”) against the U.S. dollar that are associated with forecasted future cash flows and certain existing assets and liabilities for up to twelve months. The Company’s primary objective in entering into these contracts is to reduce the volatility of earnings and cash flows associated with changes in foreign currency exchange rates. The Company does not use derivative instruments for trading or speculative purposes. Notional Amount of Foreign Currency Contracts The notional amounts of outstanding foreign currency contracts in U.S. dollar as of the periods presented were as follows: March 31, 2022 December 31, 2021 (in thousands) Derivatives Designated as Hedging Instruments: Foreign currency contracts $ 48,118 $ 45,971 Derivatives Not Designated as Hedging Instruments: Foreign currency contracts 8,955 4,975 Total derivative instruments $ 57,073 $ 50,946 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 gains or losses on the derivative to the same financial statement line item in the Condensed Consolidated Statements of Operations to which the derivative relates. In case the Company discontinues cash flow hedges, it records 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 currently not 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 Derivatives Not Designated Three Months Ended March 31, Three Months Ended March 31, 2022 2021 2022 2021 Condensed Statement of Operations Location: (in thousands) Cost of revenue: subscription–self-managed and SaaS $ ( 6 ) $ 19 $ — $ — Research and development ( 55 ) 120 — — Sales and marketing ( 11 ) 36 — — General and administrative ( 15 ) 43 — — Interest and other income, net 8 — 22 107 Total gains (losses) recognized in earnings $ ( 79 ) $ 218 $ 22 $ 107 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 (Loss) , 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 March 31, 2022 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	3 Months Ended
	Mar. 31, 2022
Balance Sheet Related Disclosures [Abstract]
Condensed Consolidated Balance Sheet Components	7. Condensed Consolidated Balance Sheet Components Property and Equipment, Net Property and equipment, net consisted of the following: March 31, 2022 December 31, 2021 (in thousands) Computer and software $ 6,742 $ 5,955 Furniture and office equipment 2,271 2,248 Leasehold improvements 5,432 4,893 Property and equipment, gross 14,445 13,096 Less: accumulated depreciation and amortization ( 7,068 ) ( 6,407 ) Property and equipment, net $ 7,377 $ 6,689 Accrued Expenses and Other Current Liabilities Accrued expenses and other current liabilities consisted of the following: March 31, 2022 December 31, 2021 (in thousands) Accrued compensation and benefits $ 17,641 $ 17,601 Accrued expenses 11,250 10,353 Accrued expenses and other current liabilities $ 28,891 $ 27,954

Goodwill and Intangible Assets,

Goodwill and Intangible Assets, Net	3 Months Ended
	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets, Net	8. Goodwill and Intangible Assets, Net Goodwill The following table represents the changes to goodwill: Carrying Amount (in thousands) Balance as of December 31, 2021 $ 247,776 Purchase accounting adjustment 179 Balance as of March 31, 2022 $ 247,955 Intangible Assets, Net Intangible assets consisted of the following as of March 31, 2022: Gross Fair Accumulated Net Book Weighted- (in thousands) (in years) Developed technology $ 50,347 $ ( 9,617 ) $ 40,730 4.1 Customer relationships 5,541 ( 1,133 ) 4,408 4.9 Total $ 55,888 $ ( 10,750 ) $ 45,138 Intangible assets consisted of the following as of December 31, 2021: Gross Fair Accumulated Net Book Weighted- (in thousands) (in years) Developed technology $ 50,347 $ ( 7,011 ) $ 43,336 4.3 Customer relationships 5,541 ( 897 ) 4,644 5.1 Total $ 55,888 $ ( 7,908 ) $ 47,980 Amortization expenses for intangible assets were $ 2.8 million and $ 0.4 million for the three months ended March 31, 2022 and 2021, respectively. The expected future amortization expenses by year related to the intangible assets as of March 31, 2022 are as follows: March 31, 2022 (in thousands) Year Ending December 31, 2022 (Remainder) $ 8,523 2023 11,291 2024 10,590 2025 9,110 2026 5,241 Thereafter 383 Total $ 45,138

Leases

Leases	3 Months Ended
	Mar. 31, 2022
Leases [Abstract]
Leases	9. Leases The Company leases its office facilities under non-cancelable agreements that expire at various dates through August 2026. Components of operating lease expense were as follows: Three Months Ended March 31, 2022 2021 (in thousands) Operating lease cost $ 1,860 $ 1,348 Short-term lease cost 88 43 Variable lease cost 92 90 Total operating lease cost $ 2,040 $ 1,481 Supplementary cash flow information related to operating leases was as follows: Three Months Ended March 31, 2022 2021 (in thousands) Cash paid for operating leases $ 1,887 $ 1,163 As of March 31, 2022 , the weighted-average discount rate is 0.9 % and the weighted-average remaining term is 3.7 years. Maturities of the Company’s operating lease liabilities as of March 31, 2022 were as follows: March 31, 2022 (in thousands) Year Ending December 31, 2022 (Remainder) $ 5,549 2023 7,151 2024 6,114 2025 4,908 2026 1,823 Total operating lease payments 25,545 Less: imputed interest ( 397 ) Total operating lease liabilities $ 25,148

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2022
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 mainly for hosting services, as well as software products and services. As of March 31, 2022, the Company had outstanding non-cancelable purchase obligations with a term of 12 months or longer as follows: March 31, 2022 (in thousands) Year Ending December 31, 2022 (Remainder) $ 6,825 2023 23,607 2024 18,273 2025 25,917 Total $ 74,622 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. Former Company sales employees (the “Former Employees”), on behalf of themselves and other non-exempt sales employees, alleged the violation of various wage and hour laws and have sought to recover unpaid wages, statutory penalties, civil penalties, liquidated damages, and attorney’s fees pursuant to certain California and federal laws. The Company denies the allegations. The Company and Former Employees have agreed to resolve the dispute amicably for approximately $ 2.6 million, and are currently negotiating the final settlement agreement. The settlement is subject to an arbitrator’s approval. The company has accrued the estimated settlement amount as part of sales and marketing expenses during the fourth quarter of 2021.

Shareholders' Equity and Equity

Shareholders' Equity and Equity Incentive Plans	3 Months Ended
	Mar. 31, 2022
Equity [Abstract]
Shareholders' Equity and Equity Incentive Plans	11. Shareholders’ Equity and Equity Incentive Plans Equity Incentive Plans On January 1, 2022, the number of ordinary shares authorized for issuance under the 2020 Equity Incentive Plan (the “2020 Plan”) automatically increased by 5,541,716 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, 2021 9,865,601 $ 7.10 6.0 $ 224,538 Exercised ( 1,017,669 ) $ 1.76 $ 23,921 Forfeited ( 175,993 ) $ 12.70 Balance as of March 31, 2022 8,671,939 $ 7.61 6.1 $ 169,763 Exercisable as of March 31, 2022 5,133,740 $ 4.55 5.2 $ 115,458 The weighted-average grant date fair value of options granted during the three months ended March 31, 2021 was $ 42.00 . The total intrinsic value of option exercised during the three months ended March 31, 2021 was $ 75.4 million. Restricted Share Units A summary of RSU activity under the Company's equity incentive plan and related information is as follows: RSUs Unvested RSUs Weighted-Average Unvested as of December 31, 2021 3,376,569 $ 46.03 Granted 1,063,034 $ 25.67 Vested ( 109,416 ) $ 57.22 Canceled/forfeited ( 217,619 ) $ 44.51 Unvested as of March 31, 2022 4,112,568 $ 40.55 The weighted-average grant date fair value of RSUs granted during the three months ended March 31, 2021 was $ 64.33 . The total release date fair value of RSUs was $ 2.7 million during the three months ended March 31, 2022. No RSUs vested during the three months ended March 31, 2021. Employee Share Purchase Plan On January 1, 2022, the number of ordinary shares authorized for issuance under the 2020 Employee Share Purchase Plan (“ESPP”) automatically increased by 974,712 shares pursuant to the terms of ESPP. 154,550 ordinary shares were purchased during the three months ended March 31, 2022. Shares Reserved for Future Issuance The Company has the following ordinary shares reserved for future issuance: March 31, 2022 Outstanding share options 8,671,939 Outstanding RSUs 4,112,568 Issuable ordinary shares related to business combinations 110,932 Shares available for future issuance under the 2020 Plan 17,614,639 Shares available for future issuance under ESPP 3,748,094 Total ordinary shares reserved 34,258,172 Share-Based Compensation The share-based compensation expense by line item in the accompanying condensed consolidated statements of operations is summarized as follows: Three Months Ended March 31, 2022 2021 (in thousands) Cost of revenue: subscription–self-managed and SaaS $ 1,306 $ 762 Research and development 5,132 1,829 Sales and marketing 4,755 2,723 General and administrative 2,881 6,436 Total share-based compensation expense $ 14,074 $ 11,750 As of March 31, 2022 , unrecognized share-based compensation cost related to unvested share-based compensation awards was $ 179.8 million, which is expected to be recognized over a weighted-average period of 3.2 years.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	3 Months Ended
	Mar. 31, 2022
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive Income (Loss)	12. Accumulated Other Comprehensive Income (Loss) 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, 2021 $ ( 264 ) $ 875 $ 611 Other comprehensive loss before reclassifications ( 717 ) ( 843 ) ( 1,560 ) Net losses reclassified from AOCI — 79 79 Other comprehensive loss ( 717 ) ( 764 ) ( 1,481 ) Balance as of March 31, 2022 $ ( 981 ) $ 111 $ ( 870 ) Net Unrealized Net Unrealized Total (in thousands) Balance as of December 31, 2020 $ ( 69 ) $ 441 $ 372 Other comprehensive loss before reclassifications ( 30 ) ( 393 ) ( 423 ) Net gains reclassified from AOCI — ( 218 ) ( 218 ) Other comprehensive loss ( 30 ) ( 611 ) ( 641 ) Balance as of March 31, 2021 $ ( 99 ) $ ( 170 ) $ ( 269 )

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2022
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 expense (benefit) was $ 0.8 million and $( 2.4 ) million for the three months ended March 31, 2022 and 2021, 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 three months ended March 31, 2022, 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. Our gross unrecognized tax benefits were $ 4.4 million as of March 31, 2022 and December 31, 2021, respectively. As of March 31, 2022 , the Company does not expect its unrecognized tax benefits to change significantly within the next twelve months.

Net Loss Per Share

Net Loss Per Share	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Net Loss Per Share	14. Net Loss Per Share The following table sets forth the computation of basic and diluted net loss per share for the periods presented: Three Months Ended March 31, 2022 2021 (in thousands, except share and per share data) Numerator: Net loss $ ( 19,704 ) $ ( 7,895 ) Denominator: Weighted-average shares used in computing net loss per share, basic and diluted 97,883,814 92,679,756 Net loss per share, basic and diluted $ ( 0.20 ) $ ( 0.09 ) The potential shares of ordinary shares that were excluded from the computation of diluted net loss per share for the periods presented because including them would have been anti-dilutive are as follows: Three Months Ended March 31, 2022 2021 Outstanding share options 9,346,102 12,504,417 Unvested RSUs 3,714,230 1,164,446 Share purchase rights under the ESPP 140,818 23,652 Issuable ordinary shares related to business combination 142,519 132,311 Total 13,343,669 13,824,826

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2022
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, 2021 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, 2021, included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021 filed with the SEC on February 11, 2022. In management’s opinion, the unaudited condensed consolidated financial statements have been prepared on the same basis as the annual consolidated financial statements and reflect all adjustments, which include only normal recurring adjustments necessary for the fair presentation of the Company’s financial position as of March 31, 2022 and the Company’s consolidated results of operations, shareholders’ equity, and cash flows for the three months ended March 31, 2022 and 2021. The results for the three months ended March 31, 2022 are not necessarily indicative of the results to be expected for the full year ending December 31, 2022 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 credit losses, the fair value of financial assets and liabilities, including the 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, loss contingency, t he fair value of share purchase rights granted under the Company’s employee share purchase plan, 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, 2021. There have been no significant changes to these policies during the three months ended March 31, 2022 .
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, commercial paper, corporate debt securities, municipal securities, government and agency debt, and derivative financial instruments within Level 2 because they are valued using inputs other than quoted prices which are directly or indirectly observable in the market, including readily-available pricing sources for the identical underlying security which may not be actively traded. As of March 31, 2022 and December 31, 2021 , the Company did no t have any assets or liabilities valued based on Level 3 valuations.
Effect of Foreign Currency Contracts on the Condensed Consolidated Statements of Operations	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 gains or losses on the derivative to the same financial statement line item in the Condensed Consolidated Statements of Operations to which the derivative relates. In case the Company discontinues cash flow hedges, it records 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 currently not 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.
Geographical Information	Geographical Information Revenue by geographical region can be found in the revenue recognition disclosure in Note 3 below. The following table presents the Company’s long-lived assets by geographic region, which consists of property and equipment, net and operating lease right-of-use assets: March 31, 2022 December 31, 2021 (in thousands) United States $ 10,516 $ 10,845 Israel 17,564 18,165 Rest of world 3,532 3,678 Total long-lived assets $ 31,612 $ 32,688

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Summary of Long Lived Assets by Geographic Region	The following table presents the Company’s long-lived assets by geographic region, which consists of property and equipment, net and operating lease right-of-use assets: March 31, 2022 December 31, 2021 (in thousands) United States $ 10,516 $ 10,845 Israel 17,564 18,165 Rest of world 3,532 3,678 Total long-lived assets $ 31,612 $ 32,688

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
Summary of table presents revenue as follows	The following table presents revenue by category: Three Months Ended March 31, 2022 2021 Amount Percentage of Revenue Amount Percentage of Revenue (in thousands, except percentages) Self-managed subscription $ 46,922 74 % $ 34,823 77 % Subscription 42,295 67 31,074 69 License 4,627 7 3,749 8 SaaS 16,774 26 10,264 23 Total subscription revenue $ 63,696 100 % $ 45,087 100 %
Summary of table by region based on the shipping address of customers	The following table summarizes revenue by region based on the shipping address of customers: Three Months Ended March 31, 2022 2021 Amount Percentage of Revenue Amount Percentage of Revenue (in thousands, except percentages) United States $ 39,717 62 % $ 28,292 63 % Israel 1,623 3 893 2 Rest of world 22,356 35 15,902 35 Total subscription revenue $ 63,696 100 % $ 45,087 100 %
Summary of table represents a rollforward of deferred contract acquisition costs	The following table represents a rollforward of deferred contract acquisition costs: Three Months Ended March 31, 2022 2021 (in thousands) Beginning balance $ 14,391 $ 8,196 Additions to deferred contract acquisition costs 3,571 2,362 Amortization of deferred contract acquisition costs ( 1,514 ) ( 978 ) Ending balance $ 16,448 $ 9,580 Deferred contract acquisition costs (to be recognized in next 12 months) $ 5,949 $ 3,655 Deferred contract acquisition costs, noncurrent 10,499 5,925 Total deferred contract acquisition costs $ 16,448 $ 9,580

Short-Term Investments (Tables)

Short-Term Investments (Tables)	3 Months Ended
	Mar. 31, 2022
Investments, All Other Investments [Abstract]
Summary of short term investments	Short-term investments consisted of the following: March 31, 2022 Amortized Gross Gross Estimated (in thousands) Bank deposits $ 85,191 $ — $ — $ 85,191 Commercial paper 55,434 — ( 251 ) 55,183 Corporate debt securities 119,531 2 ( 444 ) 119,089 Municipal securities 70,875 — ( 143 ) 70,732 Government and agency debt 38,023 — ( 145 ) 37,878 Marketable securities 283,863 2 ( 983 ) 282,882 Total short-term investments $ 369,054 $ 2 $ ( 983 ) $ 368,073 December 31, 2021 Amortized Gross Gross Estimated (in thousands) Bank deposits $ 90,704 $ — $ — $ 90,704 Commercial paper 56,448 — ( 37 ) 56,411 Corporate debt securities 109,212 1 ( 151 ) 109,062 Municipal securities 71,046 — ( 50 ) 70,996 Government and agency debt 25,698 — ( 27 ) 25,671 Marketable securities 262,404 1 ( 265 ) 262,140 Total short-term investments $ 353,108 $ 1 $ ( 265 ) $ 352,844

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Summary of fair value by balance sheet grouping	The following table presents information about the Company’s financial instruments that are measured at fair value on a recurring basis: March 31, 2022 Fair Value Level 1 Level 2 (in thousands) Financial Assets: Money market funds $ 9,585 $ 9,585 $ — Commercial paper 1,998 — 1,998 Cash equivalents 11,583 9,585 1,998 Bank deposits 85,191 — 85,191 Commercial paper 55,183 — 55,183 Corporate debt securities 119,089 — 119,089 Municipal securities 70,732 — 70,732 Government and agency debt 37,878 — 37,878 Short-term investments 368,073 — 368,073 Foreign currency contracts designated as hedging instruments included in prepaid expenses and other current assets 272 — 272 Foreign currency contracts not designated as hedging instruments included in prepaid expenses and other current assets 134 — 134 Restricted bank deposits included in prepaid expenses and other current assets 13 — 13 Restricted bank deposits included in other assets, noncurrent 240 — 240 Total financial assets $ 380,315 $ 9,585 $ 370,730 Financial Liabilities: Foreign currency contracts designated as hedging instruments included in accrued expenses and other current liabilities $ 161 $ — $ 161 Foreign currency contracts not designated as hedging instruments included in accrued expenses and other current liabilities 8 — 8 Total financial liabilities $ 169 $ — $ 169 December 31, 2021 Fair Value Level 1 Level 2 (in thousands) Financial Assets: Money market funds $ 21,670 $ 21,670 $ — Municipal securities 175 — 175 Cash equivalents 21,845 21,670 175 Bank deposits 90,704 — 90,704 Commercial paper 56,411 — 56,411 Corporate debt securities 109,062 — 109,062 Municipal securities 70,996 — 70,996 Government and agency debt 25,671 — 25,671 Short-term investments 352,844 — 352,844 Foreign currency contracts designated as hedging instruments included in prepaid expenses and other current assets 891 — 891 Foreign currency contracts not designated as hedging instruments included in prepaid expenses and other current assets 43 — 43 Restricted bank deposits included in prepaid expenses and other current assets 13 — 13 Restricted bank deposits included in other assets, noncurrent 243 — 243 Total financial assets $ 375,879 $ 21,670 $ 354,209 Financial Liabilities: Foreign currency contracts designated as hedging instruments included in accrued expenses and other current liabilities $ 16 $ — $ 16 Foreign currency contracts not designated as hedging instruments included in accrued expenses and other current liabilities 5 — 5 Total financial liabilities $ 21 $ — $ 21

Derivative Financial Instrume_2

Derivative Financial Instruments and Hedging (Tables)	3 Months Ended
	Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Disclosure of Notional Amount of Derivatives by Hedging Designation	The notional amounts of outstanding foreign currency contracts in U.S. dollar as of the periods presented were as follows: March 31, 2022 December 31, 2021 (in thousands) Derivatives Designated as Hedging Instruments: Foreign currency contracts $ 48,118 $ 45,971 Derivatives Not Designated as Hedging Instruments: Foreign currency contracts 8,955 4,975 Total derivative instruments $ 57,073 $ 50,946
Derivative Instruments, Gain (Loss)	The effect of foreign currency contracts on the condensed consolidated statements of operations during the periods presented were as follows: Derivatives Designated Derivatives Not Designated Three Months Ended March 31, Three Months Ended March 31, 2022 2021 2022 2021 Condensed Statement of Operations Location: (in thousands) Cost of revenue: subscription–self-managed and SaaS $ ( 6 ) $ 19 $ — $ — Research and development ( 55 ) 120 — — Sales and marketing ( 11 ) 36 — — General and administrative ( 15 ) 43 — — Interest and other income, net 8 — 22 107 Total gains (losses) recognized in earnings $ ( 79 ) $ 218 $ 22 $ 107

Condensed Consolidated Balanc_4

Condensed Consolidated Balance Sheet Components (Tables)	3 Months Ended
	Mar. 31, 2022
Balance Sheet Related Disclosures [Abstract]
Summary of property and equipment	Property and equipment, net consisted of the following: March 31, 2022 December 31, 2021 (in thousands) Computer and software $ 6,742 $ 5,955 Furniture and office equipment 2,271 2,248 Leasehold improvements 5,432 4,893 Property and equipment, gross 14,445 13,096 Less: accumulated depreciation and amortization ( 7,068 ) ( 6,407 ) Property and equipment, net $ 7,377 $ 6,689
Summary of accrued expenses and other current liabilities	Accrued expenses and other current liabilities consisted of the following: March 31, 2022 December 31, 2021 (in thousands) Accrued compensation and benefits $ 17,641 $ 17,601 Accrued expenses 11,250 10,353 Accrued expenses and other current liabilities $ 28,891 $ 27,954

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets, Net (Tables)	3 Months Ended
	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of changes in goodwill	The following table represents the changes to goodwill: Carrying Amount (in thousands) Balance as of December 31, 2021 $ 247,776 Purchase accounting adjustment 179 Balance as of March 31, 2022 $ 247,955
Summary of intangible assets	Intangible assets consisted of the following as of March 31, 2022: Gross Fair Accumulated Net Book Weighted- (in thousands) (in years) Developed technology $ 50,347 $ ( 9,617 ) $ 40,730 4.1 Customer relationships 5,541 ( 1,133 ) 4,408 4.9 Total $ 55,888 $ ( 10,750 ) $ 45,138 Intangible assets consisted of the following as of December 31, 2021: Gross Fair Accumulated Net Book Weighted- (in thousands) (in years) Developed technology $ 50,347 $ ( 7,011 ) $ 43,336 4.3 Customer relationships 5,541 ( 897 ) 4,644 5.1 Total $ 55,888 $ ( 7,908 ) $ 47,980
Summary of expected future amortization expenses by year related to the intangible assets	The expected future amortization expenses by year related to the intangible assets as of March 31, 2022 are as follows: March 31, 2022 (in thousands) Year Ending December 31, 2022 (Remainder) $ 8,523 2023 11,291 2024 10,590 2025 9,110 2026 5,241 Thereafter 383 Total $ 45,138

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2022
Leases [Abstract]
Components of Operating Lease Expense	Components of operating lease expense were as follows: Three Months Ended March 31, 2022 2021 (in thousands) Operating lease cost $ 1,860 $ 1,348 Short-term lease cost 88 43 Variable lease cost 92 90 Total operating lease cost $ 2,040 $ 1,481
Supplementary Cash Flow Information Related to Operating Leases	Supplementary cash flow information related to operating leases was as follows: Three Months Ended March 31, 2022 2021 (in thousands) Cash paid for operating leases $ 1,887 $ 1,163
Summary of minimum lease payments under operating leases	As of March 31, 2022 , the weighted-average discount rate is 0.9 % and the weighted-average remaining term is 3.7 years. Maturities of the Company’s operating lease liabilities as of March 31, 2022 were as follows: March 31, 2022 (in thousands) Year Ending December 31, 2022 (Remainder) $ 5,549 2023 7,151 2024 6,114 2025 4,908 2026 1,823 Total operating lease payments 25,545 Less: imputed interest ( 397 ) Total operating lease liabilities $ 25,148

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2022
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 mainly for hosting services, as well as software products and services. As of March 31, 2022, the Company had outstanding non-cancelable purchase obligations with a term of 12 months or longer as follows: March 31, 2022 (in thousands) Year Ending December 31, 2022 (Remainder) $ 6,825 2023 23,607 2024 18,273 2025 25,917 Total $ 74,622

Shareholders' Equity and Equi_2

Shareholders' Equity and Equity Incentive Plans (Tables)	3 Months Ended
	Mar. 31, 2022
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, 2021 9,865,601 $ 7.10 6.0 $ 224,538 Exercised ( 1,017,669 ) $ 1.76 $ 23,921 Forfeited ( 175,993 ) $ 12.70 Balance as of March 31, 2022 8,671,939 $ 7.61 6.1 $ 169,763 Exercisable as of March 31, 2022 5,133,740 $ 4.55 5.2 $ 115,458
Summary of restricted ordinary shares	A summary of RSU activity under the Company's equity incentive plan and related information is as follows: RSUs Unvested RSUs Weighted-Average Unvested as of December 31, 2021 3,376,569 $ 46.03 Granted 1,063,034 $ 25.67 Vested ( 109,416 ) $ 57.22 Canceled/forfeited ( 217,619 ) $ 44.51 Unvested as of March 31, 2022 4,112,568 $ 40.55 The weighted-average grant date fair value of RSUs granted during the three months ended March 31, 2021 was $ 64.33 . The total release date fair value of RSUs was $ 2.7 million during the three months ended March 31, 2022. No RSUs vested during the three months ended March 31, 2021.
Summary of ordinary shares reserved for future issuance	The Company has the following ordinary shares reserved for future issuance: March 31, 2022 Outstanding share options 8,671,939 Outstanding RSUs 4,112,568 Issuable ordinary shares related to business combinations 110,932 Shares available for future issuance under the 2020 Plan 17,614,639 Shares available for future issuance under ESPP 3,748,094 Total ordinary shares reserved 34,258,172
Summary of stock-based compensation expense	The share-based compensation expense by line item in the accompanying condensed consolidated statements of operations is summarized as follows: Three Months Ended March 31, 2022 2021 (in thousands) Cost of revenue: subscription–self-managed and SaaS $ 1,306 $ 762 Research and development 5,132 1,829 Sales and marketing 4,755 2,723 General and administrative 2,881 6,436 Total share-based compensation expense $ 14,074 $ 11,750

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	3 Months Ended
	Mar. 31, 2022
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, 2021 $ ( 264 ) $ 875 $ 611 Other comprehensive loss before reclassifications ( 717 ) ( 843 ) ( 1,560 ) Net losses reclassified from AOCI — 79 79 Other comprehensive loss ( 717 ) ( 764 ) ( 1,481 ) Balance as of March 31, 2022 $ ( 981 ) $ 111 $ ( 870 ) Net Unrealized Net Unrealized Total (in thousands) Balance as of December 31, 2020 $ ( 69 ) $ 441 $ 372 Other comprehensive loss before reclassifications ( 30 ) ( 393 ) ( 423 ) Net gains reclassified from AOCI — ( 218 ) ( 218 ) Other comprehensive loss ( 30 ) ( 611 ) ( 641 ) Balance as of March 31, 2021 $ ( 99 ) $ ( 170 ) $ ( 269 )

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Summary of computation of basic and diluted net loss per share	The following table sets forth the computation of basic and diluted net loss per share for the periods presented: Three Months Ended March 31, 2022 2021 (in thousands, except share and per share data) Numerator: Net loss $ ( 19,704 ) $ ( 7,895 ) Denominator: Weighted-average shares used in computing net loss per share, basic and diluted 97,883,814 92,679,756 Net loss per share, basic and diluted $ ( 0.20 ) $ ( 0.09 )
Summary of shares excluded from the computation of diluted net loss per share	The potential shares of ordinary shares that were excluded from the computation of diluted net loss per share for the periods presented because including them would have been anti-dilutive are as follows: Three Months Ended March 31, 2022 2021 Outstanding share options 9,346,102 12,504,417 Unvested RSUs 3,714,230 1,164,446 Share purchase rights under the ESPP 140,818 23,652 Issuable ordinary shares related to business combination 142,519 132,311 Total 13,343,669 13,824,826

Geographic Information (Tables)

Geographic Information (Tables)	3 Months Ended
	Mar. 31, 2022
Segments, Geographical Areas [Abstract]
Long-lived Assets by Geographic Areas [Table Text Block]	The following table presents the Company’s long-lived assets by geographic region, which consists of property and equipment, net and operating lease right-of-use assets: March 31, 2022 December 31, 2021 (in thousands) United States $ 10,516 $ 10,845 Israel 17,564 18,165 Rest of world 3,532 3,678 Total long-lived assets $ 31,612 $ 32,688

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Summary of Long Lived Assets by Geographic Region (Detail) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Total long lived assets	$ 31,612	$ 32,688
UNITED STATES
Total long lived assets	10,516	10,845
ISRAEL
Total long lived assets	17,564	18,165
Rest of world Member
Total long lived assets	$ 3,532	$ 3,678

Revenue Recognition - Additiona

Revenue Recognition - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021	Dec. 31, 2020
Disaggregation of Revenue [Line Items]
Deferred Revenue			$ 147.1	$ 102.8
Contract with Customer, Liability, Revenue Recognized	$ 47.9	$ 32.9
Revenue, Remaining Performance Obligation	$ 172.1
Revenue, Remaining Performance Obligation, Percentage	83.00%
Billed Revenues [Member]
Disaggregation of Revenue [Line Items]
Revenue, Remaining Performance Obligation	$ 152.4
Unbilled Revenues [Member]
Disaggregation of Revenue [Line Items]
Revenue, Remaining Performance Obligation	$ 19.7

Revenue Recognition - Additio_2

Revenue Recognition - Additional Information (Detail 1)	Mar. 31, 2022
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	12 months

Revenue Recognition - Summary o

Revenue Recognition - Summary of Table Presents Revenue as Follows (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Disaggregation of Revenue [Line Items]
Total subscription revenue	$ 63,696	$ 45,087
Sale revenue [Member] | Product Concentration Risk [Member]
Disaggregation of Revenue [Line Items]
Percentage of revenue	100.00%	100.00%
Subscription
Disaggregation of Revenue [Line Items]
Total subscription revenue	$ 42,295	$ 31,074
Subscription | Sale revenue [Member] | Product Concentration Risk [Member]
Disaggregation of Revenue [Line Items]
Percentage of revenue	67.00%	69.00%
Selfmanaged Subscription [Member]
Disaggregation of Revenue [Line Items]
Total subscription revenue	$ 46,922	$ 34,823
Selfmanaged Subscription [Member] | Sale revenue [Member] | Product Concentration Risk [Member]
Disaggregation of Revenue [Line Items]
Percentage of revenue	74.00%	77.00%
License [Member]
Disaggregation of Revenue [Line Items]
Total subscription revenue	$ 4,627	$ 3,749
License [Member] | Sale revenue [Member] | Product Concentration Risk [Member]
Disaggregation of Revenue [Line Items]
Percentage of revenue	7.00%	8.00%
SaaS [Member]
Disaggregation of Revenue [Line Items]
Total subscription revenue	$ 16,774	$ 10,264
SaaS [Member] | Sale revenue [Member] | Product Concentration Risk [Member]
Disaggregation of Revenue [Line Items]
Percentage of revenue	26.00%	23.00%

Revenue Recognition - Summary_2

Revenue Recognition - Summary of Revenue by Region Based on The Shipping Address of Customers as Follows (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Disaggregation of Revenue [Line Items]
Total subscription revenue	$ 63,696	$ 45,087
Revenue Benchmark [Member] | Geographic Concentration Risk [Member]
Disaggregation of Revenue [Line Items]
Percentage of revenue	100.00%	100.00%
UNITED STATES
Disaggregation of Revenue [Line Items]
Total subscription revenue	$ 39,717	$ 28,292
UNITED STATES | Revenue Benchmark [Member] | Geographic Concentration Risk [Member]
Disaggregation of Revenue [Line Items]
Percentage of revenue	62.00%	63.00%
ISRAEL
Disaggregation of Revenue [Line Items]
Total subscription revenue	$ 1,623	$ 893
ISRAEL | Revenue Benchmark [Member] | Geographic Concentration Risk [Member]
Disaggregation of Revenue [Line Items]
Percentage of revenue	3.00%	2.00%
Rest of world [Member]
Disaggregation of Revenue [Line Items]
Total subscription revenue	$ 22,356	$ 15,902
Rest of world [Member] | Revenue Benchmark [Member] | Geographic Concentration Risk [Member]
Disaggregation of Revenue [Line Items]
Percentage of revenue	35.00%	35.00%

Revenue Recognition - Summary_3

Revenue Recognition - Summary of Table Represents a Rollforward of Deferred Contract Acquisition Costs (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Deferred Policy Acquisition Costs Disclosures [Abstract]
Beginning balance	$ 14,391	$ 8,196
Additions to deferred contract acquisition costs	3,571	2,362
Amortization of deferred contract acquisition costs	(1,514)	(978)
Ending balance	16,448	9,580
Deferred contract acquisition costs (to be recognized in next 12 months)	5,949	3,655	$ 5,271
Deferred contract acquisition costs, noncurrent	10,499	5,925	9,120
Total deferred contract acquisition costs	$ 16,448	$ 9,580	$ 14,391

Short-Term Investments - Summar

Short-Term Investments - Summary of Short Term Investments (Detail) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Schedule of short term investments [Line Items]
Amortized cost	$ 369,054	$ 353,108
Gross unrealized gains	2	1
Gross unrealized losses	(983)	(265)
Estimated fair value	368,073	352,844
Bank deposits [Member]
Schedule of short term investments [Line Items]
Amortized cost	85,191	90,704
Estimated fair value	85,191	90,704
Commercial paper [Member]
Schedule of short term investments [Line Items]
Amortized cost	55,434	56,448
Gross unrealized losses	(251)	(37)
Estimated fair value	55,183	56,411
Corporate debt securities [Member]
Schedule of short term investments [Line Items]
Amortized cost	119,531	109,212
Gross unrealized gains	2	1
Gross unrealized losses	(444)	(151)
Estimated fair value	119,089	109,062
Municipal securities [Member]
Schedule of short term investments [Line Items]
Amortized cost	70,875	71,046
Gross unrealized losses	(143)	(50)
Estimated fair value	70,732	70,996
Government and agency debt [Member]
Schedule of short term investments [Line Items]
Amortized cost	38,023	25,698
Gross unrealized losses	(145)	(27)
Estimated fair value	37,878	25,671
Marketable securities [Member]
Schedule of short term investments [Line Items]
Amortized cost	283,863	262,404
Gross unrealized gains	2	1
Gross unrealized losses	(983)	(265)
Estimated fair value	$ 282,882	$ 262,140

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Fair Value, by Balance Sheet Grouping (Detail) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	$ 9,585	$ 21,670
Total financial assets	9,585	21,670
Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	1,998	175
Total financial assets	370,730	354,209
Total financial liabilities	169	21
Level 2 | Short-term Investments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	368,073	352,844
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	11,583	21,845
Total financial assets	380,315	375,879
Total financial liabilities	169	21
Fair Value | Short-term Investments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	368,073	352,844
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	13
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	13
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	272	891
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	272	891
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	134	43
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	134	43
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	161	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	161	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	8	5
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	8	5
Bank deposits | Level 2 | Short-term Investments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	85,191	90,704
Bank deposits | Fair Value | Short-term Investments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	85,191	90,704
Money market funds | Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	9,585	21,670
Money market funds | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	9,585	21,670
Commercial paper | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	1,998
Commercial paper | Level 2 | Short-term Investments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	55,183	56,411
Commercial paper | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	1,998
Commercial paper | Fair Value | Short-term Investments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	55,183	56,411
Corporate debt securities | Level 2 | Short-term Investments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	119,089	109,062
Corporate debt securities | Fair Value | Short-term Investments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	119,089	109,062
Municipal securities | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents		175
Municipal securities | Level 2 | Short-term Investments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	70,732	70,996
Municipal securities | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents		175
Municipal securities | Fair Value | Short-term Investments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	70,732	70,996
Government and agency debt | Level 2 | Short-term Investments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	37,878	25,671
Government and agency debt | Fair Value | Short-term Investments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	37,878	25,671
Other Noncurrent Assets [Member] | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Restricted bank deposits included in assets	240	243
Other Noncurrent Assets [Member] | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Restricted bank deposits included in assets	$ 240	$ 243

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) - Level 3 - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total financial assets	$ 0	$ 0
Total financial liabilities	$ 0	$ 0

Derivative Financial Instrume_3

Derivative Financial Instruments and Hedging - Disclosure of Notional Amount of Derivatives By Hedging Designation (Detail) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Derivatives, Fair Value [Line Items]
Total derivative instruments	$ 57,073	$ 50,946
Foreign currency contracts [Member] | Derivatives designated as hedging instruments [Member]
Derivatives, Fair Value [Line Items]
Total derivative instruments	48,118	45,971
Foreign currency contracts [Member] | Derivatives not designated as hedging instruments [Member]
Derivatives, Fair Value [Line Items]
Total derivative instruments	$ 8,955	$ 4,975

Derivative Financial Instrume_4

Derivative Financial Instruments and Hedging - Derivative Instruments, Gain (Loss) (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Derivatives designated as hedging instruments [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Total gains (losses) recognized in earnings	$ (79)	$ 218
Derivatives not designated as hedging instruments [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Total gains (losses) recognized in earnings	22	107
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	(6)	19
Foreign Currency Contracts [Member] | Research and development [Member] | Derivatives designated as hedging instruments [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Total gains (losses) recognized in earnings	(55)	120
Foreign Currency Contracts [Member] | Sales and marketing [Member] | Derivatives designated as hedging instruments [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Total gains (losses) recognized in earnings	(11)	36
Foreign Currency Contracts [Member] | General and administrative [Member] | Derivatives designated as hedging instruments [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Total gains (losses) recognized in earnings	(15)	43
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
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	$ 22	$ 107

Condensed Consolidated Balanc_5

Condensed Consolidated Balance Sheet Components - Summary of Property and Equipment (Detail) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 14,445	$ 13,096
Less: accumulated depreciation and amortization	(7,068)	(6,407)
Property and equipment, net	7,377	6,689
Computer and software
Property, Plant and Equipment [Line Items]
Property and equipment, gross	6,742	5,955
Furniture and office equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	2,271	2,248
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 5,432	$ 4,893

Condensed Consolidated Balanc_6

Condensed Consolidated Balance Sheet Components - Summary of Accrued Expenses and Other Current Liabilities (Detail) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Balance Sheet Related Disclosures [Abstract]
Accrued compensation and benefits	$ 17,641	$ 17,601
Accrued expenses	11,250	10,353
Accrued expenses and other current liabilities	$ 28,891	$ 27,954

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets, Net - Summary of changes in goodwill (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill, Beginning Balance	$ 247,776
Purchase accounting adjustment	179
Goodwill, Ending Balance	$ 247,955

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets, Net - Summary of Intangible Assets (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Intangible Assets [Line items]
Gross Fair Value	$ 55,888	$ 55,888
Accumulated Amortization	(10,750)	(7,908)
Net Book Value	45,138	47,980
Developed technology [Member]
Intangible Assets [Line items]
Gross Fair Value	50,347	50,347
Accumulated Amortization	(9,617)	(7,011)
Net Book Value	$ 40,730	$ 43,336
Weighted- Average Remaining Useful Life	4 years 1 month 6 days	4 years 3 months 18 days
Customer relationships [Member]
Intangible Assets [Line items]
Gross Fair Value	$ 5,541	$ 5,541
Accumulated Amortization	(1,133)	(897)
Net Book Value	$ 4,408	$ 4,644
Weighted- Average Remaining Useful Life	4 years 10 months 24 days	5 years 1 month 6 days

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets, Net - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Intangible Assets [Line items]
Amortization expenses for intangible assets	$ 2.8	$ 0.4

Goodwill and Intangible Asset_6

Goodwill and Intangible Assets, Net - Summary of Expected Future Amortization Expenses by Year Related to the Intangible Assets (Detail) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2022 (Remainder)	$ 8,523
2023	11,291
2024	10,590
2025	9,110
2026	5,241
Thereafter	383
Net Book Value	$ 45,138	$ 47,980

Leases - Components of Operatin

Leases - Components of Operating Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Lease, Cost [Abstract]
Operating lease cost	$ 1,860	$ 1,348
Short-term lease cost	88	43
Variable lease cost	92	90
Total operating lease cost	$ 2,040	$ 1,481

Leases - Additional Information

Leases - Additional Information (Details)	Mar. 31, 2022
Lessee, Lease, Description [Line Items]
Operating Lease, Weighted Average Remaining Lease Term	3 years 8 months 12 days
Operating Lease, Weighted Average Discount Rate, Percent	0.90%

Leases - Supplemental Cash Flow

Leases - Supplemental Cash Flow Information related to Operating Lease (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Leases [Abstract]
Cash paid for operating leases	$ 1,887	$ 1,163

Leases - Schedule of Maturities

Leases - Schedule of Maturities of Operating Lease Liabilities (Details) $ in Thousands	Mar. 31, 2022USD ($)
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
2022 (Remainder)	$ 5,549
2023	7,151
2024	6,114
2025	4,908
2026	1,823
Total operating lease payments	25,545
Less: imputed interest	(397)
Total operating lease liabilities	$ 25,148

Commitments and Contingencies -

Commitments and Contingencies - Summary of Outstanding Non-cancelable Purchase Obligations (Detail) $ in Thousands	Mar. 31, 2022USD ($)
Commitments and Contingencies Disclosure [Abstract]
2022 (Remainder)	$ 6,825
2023	23,607
2024	18,273
2025	25,917
Total	$ 74,622

Commitments and Contingencies_2

Commitments and Contingencies - Additional Information (Detail) $ in Millions	3 Months Ended
	Mar. 31, 2022USD ($)
Loss contingency estimate of possible loss	$ 2.6
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, 2022	Mar. 31, 2022	Mar. 31, 2021
Total intrinsic value of options exercised		$ 23,921	$ 75,400
Unrecognized share-based compensation cost		$ 179,800
Unrecognized share based compensation cost expected to be recognised period		3 years 2 months 12 days
2020 Plan [Member]
Share-based payment arrangement, increase of authorized shares	5,541,716
Employee Share Purchase Plan [Member]
Share-based payment arrangement, increase of authorized shares	974,712
Number of shares purchased		154,550
Employee Stock Option [Member]
Weighted average grant date fair value of options granted			$ 42
Restricted Stock Units (RSUs) [Member]
Fair value of RSU		$ 2,700
Unvested RSUs, Vested		109,416	0
Weighted Average Grant Date Fair Value Per Share, Granted		$ 25.67	$ 64.33

Shareholders' Equity and Equi_4

Shareholders' Equity and Equity Incentive Plans - Summary of Stock Option Activity (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Share-based Payment Arrangement [Abstract]
Outstanding Share Options, Beginning balance	9,865,601
Outstanding Share Options, Exercised	(1,017,669)
Outstanding Share Options, Forfeited	(175,993)
Outstanding Share Options, Ending balance	8,671,939		9,865,601
Outstanding Share Options, Exercisable	5,133,740
Weighted Average Exercise Price Per Share, Beginning balance	$ 7.10
Weighted Average Exercise Price Per Share, Exercised	1.76
Weighted Average Exercise Price Per Share, Forfeited	12.70
Weighted Average Exercise Price Per Share, Ending balance	7.61		$ 7.10
Weighted Average Exercise Price Per Share, Exercisable	$ 4.55
Weighted Average Remaining Contractual Life	6 years 1 month 6 days		6 years
Weighted Average Remaining Contractual Life, Exercisable	5 years 2 months 12 days
Aggregate Intrinsic Value, Beginning balance	$ 224,538
Aggregate Intrinsic Value, Exercised	23,921	$ 75,400
Aggregate Intrinsic Value, Ending balance	169,763		$ 224,538
Aggregate Intrinsic Value, Exercisable	$ 115,458

Shareholders' Equity and Equi_5

Shareholders' Equity and Equity Incentive Plans - Summary of Restricted Ordinary Shares (Detail) - Restricted Stock Units (RSUs) [Member] - $ / shares	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested RSUs, Beginning balance	3,376,569
Unvested RSUs, Granted	1,063,034
Unvested RSUs, Vested	(109,416)	0
Unvested RSUs, Canceled/Forfeited	(217,619)
Unvested RSUs, Ending balance	4,112,568
Weighted Average Grant Date Fair Value Per Share, Beginning balance	$ 46.03
Weighted Average Grant Date Fair Value Per Share, Granted	25.67	$ 64.33
Weighted Average Grant Date Fair Value Per Share, Vested	57.22
Weighted Average Grant Date Fair Value Per Share, Canceled/Forfeited	44.51
Weighted Average Grant Date Fair Value Per Share, Ending balance	$ 40.55

Shareholders' Equity and Equi_6

Shareholders' Equity and Equity Incentive Plans - Summary of Ordinary Shares Reserved for Future Issuance (Detail)	Mar. 31, 2022shares
Class of Stock [Line Items]
Common Stock Reserved for Future Issuance	34,258,172
2020 Plan [Member]
Class of Stock [Line Items]
Common Stock Reserved for Future Issuance	17,614,639
Employee Stock Purchase Plan [Member]
Class of Stock [Line Items]
Common Stock Reserved for Future Issuance	3,748,094
Employee Stock Option [Member]
Class of Stock [Line Items]
Common Stock Reserved for Future Issuance	8,671,939
Restricted Stock Units (RSUs) [Member]
Class of Stock [Line Items]
Common Stock Reserved for Future Issuance	4,112,568
Ordinary Shares [Member]
Class of Stock [Line Items]
Common Stock Reserved for Future Issuance	110,932

Shareholders' Equity and Equi_7

Shareholders' Equity and Equity Incentive Plans - Summary of Stock-based Compensation Expense (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 14,074	$ 11,750
Cost of revenue [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	1,306	762
Research and development [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	5,132	1,829
Sales and marketing [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	4,755	2,723
General and administrative [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 2,881	$ 6,436

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) - Summary of Changes In AOCI (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Changes in Accumulated Other Comprehensive Income [Line items]
Beginning Balance	$ 611	$ 372
Other comprehensive loss before reclassifications	(1,560)	(423)
Net (gains) losses reclassified from AOCI	79	(218)
Other comprehensive loss	(1,481)	(641)
Ending Balance	(870)	(269)
Net Unrealized Gains (losses) on Available-for-Sale Marketable Securities [Member]
Changes in Accumulated Other Comprehensive Income [Line items]
Beginning Balance	(264)	(69)
Other comprehensive loss before reclassifications	(717)	(30)
Net (gains) losses reclassified from AOCI	0	0
Other comprehensive loss	(717)	(30)
Ending Balance	(981)	(99)
Net Unrealized Gains on Derivatives Designated as Hedging Instruments [Member]
Changes in Accumulated Other Comprehensive Income [Line items]
Beginning Balance	875	441
Other comprehensive loss before reclassifications	(843)	(393)
Net (gains) losses reclassified from AOCI	79	(218)
Other comprehensive loss	(764)	(611)
Ending Balance	$ 111	$ (170)

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Income tax expense (benefit)	$ 838	$ (2,357)
Unrecognized tax benefits	$ 4,400		$ 4,400

Net Loss Per Share - Summary of

Net Loss Per Share - Summary of Computation of Basic and Diluted Net Loss Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Numerator:
Net loss	$ (19,704)	$ (7,895)
Denominator:
Weighted-average shares used in computing net loss per share, basic and diluted	97,883,814	92,679,756
Net loss per share, basic and diluted	$ (0.20)	$ (0.09)

Net Loss Per Share - Summary _2

Net Loss Per Share - Summary of Shares Excluded From the Computation of Diluted Net Loss Per Share Attributable to Ordinary Shareholders (Detail) - shares	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares excluded from computation of diluted net loss per share	13,343,669	13,824,826
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	9,346,102	12,504,417
Unvested RSUs [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares excluded from computation of diluted net loss per share	3,714,230	1,164,446
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	140,818	23,652
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	142,519	132,311