Informatica (INFA) 10-Q 3 Aug 23 2023 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2023	Jul. 27, 2023
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2023
Document Transition Report	false
Entity File Number	001-40936
Entity Registrant Name	Informatica Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	61-1999534
Entity Address, Address Line One	2100 Seaport Boulevard
Entity Address, City or Town	Redwood City
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94063
City Area Code	(650)
Local Phone Number	385-5000
Title of 12(b) Security	Class A Common Stock, $0.01 par value per share
Trading Symbol	INFA
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0001868778
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Amendment Flag	false
Class A Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		243,949,812
Class B-1 Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		44,049,523

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 632,803	$ 497,879
Short-term investments	188,693	218,256
Accounts receivable, net of allowances of $4,736 and $4,608, respectively	299,909	454,759
Contract assets, net	85,805	95,221
Prepaid expenses and other current assets	121,321	132,638
Total current assets	1,328,531	1,398,753
Property and equipment, net	155,335	160,574
Operating lease right-of-use-assets	59,897	67,735
Goodwill	2,349,881	2,337,036
Deferred tax assets	19,765	13,076
Other assets	158,299	165,733
Total assets	4,827,847	4,970,899
Current liabilities:
Accounts payable	15,594	38,002
Accrued liabilities	42,553	58,844
Accrued compensation and related expenses	95,741	150,118
Current operating lease liabilities	16,285	17,514
Current portion of long-term debt	18,750	18,750
Income taxes payable	119,534	3,758
Contract liabilities	645,249	676,470
Total current liabilities	953,706	963,456
Long-term operating lease liabilities	48,214	55,178
Long-term contract liabilities	18,146	23,007
Long-term debt, net	1,813,835	1,821,760
Deferred tax liabilities	30,431	18,604
Long-term income taxes payable	37,668	30,601
Other liabilities	3,749	3,932
Total liabilities	2,905,749	2,916,538
Commitments and contingencies
Stockholders’ equity:
Additional paid-in-capital	3,400,575	3,282,383
Accumulated other comprehensive loss	(29,336)	(47,671)
Accumulated deficit	(1,452,021)	(1,183,189)
Total stockholders’ equity	1,922,098	2,054,361
Total liabilities and stockholders’ equity	4,827,847	4,970,899
Customer relationships
Current assets:
Intangible assets, net	732,541	794,898
Trademarks and Trade Names and Developed Technology Rights
Current assets:
Intangible assets, net	23,598	33,094
Class A Common Stock
Stockholders’ equity:
Common stock, value, issued	2,440	2,398
Class B-1 Common Stock
Stockholders’ equity:
Common stock, value, issued	440	440
Class B-2 Common Stock
Stockholders’ equity:
Common stock, value, issued	$ 0	$ 0

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Accounts receivable, allowance	$ 4,736	$ 4,608
Class A Common Stock
Common stock, par value per share (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	2,000,000,000	2,000,000,000
Common stock, shares, issued (in shares)	243,948,000	239,749,000
Common stock, shares, outstanding (in shares)	243,948,000	239,749,000
Class B-1 Common Stock
Common stock, par value per share (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	200,000,000	200,000,000
Common stock, shares, issued (in shares)	44,050,000	44,050,000
Common stock, shares, outstanding (in shares)	44,050,000	44,050,000
Class B-2 Common Stock
Common stock, par value per share (in dollars per share)	$ 0.00001	$ 0.00001
Common stock, shares authorized (in shares)	200,000,000	200,000,000
Common stock, shares, issued (in shares)	44,050,000	44,050,000
Common stock, shares, outstanding (in shares)	44,050,000	44,050,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Revenues:
Total revenues	$ 375,988	$ 372,039	$ 741,419	$ 734,386
Amortization of acquired technology	2,889	8,936	5,763	18,073
Total cost of revenues	85,592	86,409	167,489	170,208
Gross profit	290,396	285,630	573,930	564,178
Operating expenses:
Research and development	87,707	84,064	169,746	159,187
Sales and marketing	134,500	143,597	263,038	272,549
General and administrative	38,756	31,632	80,116	61,206
Amortization of intangible assets	34,348	38,459	68,639	77,120
Restructuring	471	0	27,724	0
Total operating expenses	295,782	297,752	609,263	570,062
Loss from operations	(5,386)	(12,122)	(35,333)	(5,884)
Interest income	9,920	1,129	17,503	1,495
Interest expense	(37,466)	(16,560)	(72,517)	(29,385)
Other income, net	2,531	3,837	3,161	8,057
Loss before income taxes	(30,401)	(23,716)	(87,186)	(25,717)
Income tax expense	122,065	6,790	181,634	7,975
Net loss	$ (152,466)	$ (30,506)	$ (268,820)	$ (33,692)
Weighted-average shares in computing net loss per share
Basic (in shares)	287,109	280,417	286,004	279,599
Diluted (in shares)	287,109	280,417	286,004	279,599
Net loss per share attributable to Class A and Class B-1 common stockholders
Basic (in dollars per share)	$ (0.53)	$ (0.11)	$ (0.94)	$ (0.12)
Diluted (in dollars per share)	$ (0.53)	$ (0.11)	$ (0.94)	$ (0.12)
Software revenue
Revenues:
Total revenues	$ 227,602	$ 209,343	$ 442,330	$ 409,762
Cost of revenues:	38,839	25,353	74,703	50,210
Subscriptions
Revenues:
Total revenues	227,589	207,043	441,511	404,790
Cost of revenues:	38,626	25,177	74,310	49,881
Perpetual license
Revenues:
Total revenues	13	2,300	819	4,972
Cost of revenues:	213	176	393	329
Maintenance and professional services
Revenues:
Total revenues	148,386	162,696	299,089	324,624
Cost of revenues:	$ 43,864	$ 52,120	$ 87,023	$ 101,925

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of Comprehensive Income [Abstract]
Net loss	$ (152,466)	$ (30,506)	$ (268,820)	$ (33,692)
Other comprehensive income (loss), net of taxes:
Change in foreign currency translation adjustment, net of tax (expense) benefit of $(139), $148, $89, and $136	3,502	(47,836)	15,252	(66,910)
Available-for-sale debt securities:
Change in unrealized gain, net of tax expense of $9, $—, $33 and $—	27	0	101	0
Cash flow hedges:
Change in unrealized gain, net of tax expense of $297, $167, $605, and $1,479	908	507	1,849	4,498
Less: reclassification adjustment for amounts included in net loss, net of tax benefit of $85, $164, $371, and $544	259	498	1,133	1,654
Net change, net of tax expense of $382, $331, $976, $2,023	1,167	1,005	2,982	6,152
Total other comprehensive income (loss), net of tax effect	4,696	(46,831)	18,335	(60,758)
Total comprehensive loss, net of tax effect	$ (147,770)	$ (77,337)	$ (250,485)	$ (94,450)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of Comprehensive Income [Abstract]
Change in foreign currency translation adjustment, tax	$ (139)	$ 148	$ 89	$ 136
Change in unrealized gain, net of tax expense	(9)	0	(33)	0
Change in unrealized gain (loss), tax	(297)	(167)	(605)	(1,479)
Reclassification adjustments for amounts previously included in net loss, tax	85	164	371	544
Net change, tax	$ (382)	$ (331)	$ (976)	$ (2,023)

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($) $ in Thousands	Total	Class A Common Stock	Class B-1 Common Stock	Class B-2 Common Stock	Common Stock Class A Common Stock	Common Stock Class B-1 Common Stock	Common Stock Class B-2 Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Income (loss)	Accumulated Deficit
Beginning Balance (in shares) at Dec. 31, 2021					234,189,000	44,050,000	44,050,000
Beginning Balance at Dec. 31, 2021	$ 1,983,676				$ 2,343	$ 440	$ 0	$ 3,093,232	$ 17,151	$ (1,129,490)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	64,440							64,440
Issuance of shares under employee stock purchase plan (in shares)					801,000
Issuance of shares under employee stock purchase plan	13,644				$ 8			13,636
Issuance of shares under equity plans (in shares)					1,978,000
Issuance of shares under equity plans	12,474				$ 20			12,454
Net loss	(33,692)									(33,692)
Other comprehensive income (loss)	(60,758)								(60,758)
Payments for dividends related to Class B-2 shares	(24)									(24)
Ending Balance (in shares) at Jun. 30, 2022					236,968,000	44,050,000	44,050,000
Ending Balance at Jun. 30, 2022	1,979,760				$ 2,371	$ 440	$ 0	3,183,762	(43,607)	(1,163,206)
Beginning Balance (in shares) at Mar. 31, 2022					235,863,000	44,050,000	44,050,000
Beginning Balance at Mar. 31, 2022	2,014,771				$ 2,360	$ 440	$ 0	3,141,447	3,224	(1,132,700)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	34,558							34,558
Issuance of shares under equity plans (in shares)					1,105,000
Issuance of shares under equity plans	7,768				$ 11			7,757
Net loss	(30,506)									(30,506)
Other comprehensive income (loss)	(46,831)								(46,831)
Ending Balance (in shares) at Jun. 30, 2022					236,968,000	44,050,000	44,050,000
Ending Balance at Jun. 30, 2022	1,979,760				$ 2,371	$ 440	$ 0	3,183,762	(43,607)	(1,163,206)
Beginning Balance (in shares) at Dec. 31, 2022		239,749,000	44,050,000	44,050,000	239,749,000	44,050,000	44,050,000
Beginning Balance at Dec. 31, 2022	2,054,361				$ 2,398	$ 440	$ 0	3,282,383	(47,671)	(1,183,189)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	105,550							105,550
Shares withheld related to net share settlement of equity awards (in shares)					(739,000)
Shares withheld related to net share settlement of equity awards	(11,100)				$ (8)			(11,092)
Issuance of shares under employee stock purchase plan (in shares)					1,112,000
Issuance of shares under employee stock purchase plan	16,131				$ 11			16,120
Issuance of shares under equity plans (in shares)					3,826,000
Issuance of shares under equity plans	7,653				$ 39			7,614
Net loss	(268,820)									(268,820)
Other comprehensive income (loss)	18,335								18,335
Payments for dividends related to Class B-2 shares	(12)									(12)
Ending Balance (in shares) at Jun. 30, 2023		243,948,000	44,050,000	44,050,000	243,948,000	44,050,000	44,050,000
Ending Balance at Jun. 30, 2023	1,922,098				$ 2,440	$ 440	$ 0	3,400,575	(29,336)	(1,452,021)
Beginning Balance (in shares) at Mar. 31, 2023					242,222,000	44,050,000	44,050,000
Beginning Balance at Mar. 31, 2023	2,021,588				$ 2,423	$ 440	$ 0	3,352,312	(34,032)	(1,299,555)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	55,208							55,208
Shares withheld related to net share settlement of equity awards (in shares)					(739,000)
Shares withheld related to net share settlement of equity awards	(11,100)				$ (8)			(11,092)
Issuance of shares under equity plans (in shares)					2,465,000
Issuance of shares under equity plans	4,172				$ 25			4,147
Net loss	(152,466)									(152,466)
Other comprehensive income (loss)	4,696								4,696
Ending Balance (in shares) at Jun. 30, 2023		243,948,000	44,050,000	44,050,000	243,948,000	44,050,000	44,050,000
Ending Balance at Jun. 30, 2023	$ 1,922,098				$ 2,440	$ 440	$ 0	$ 3,400,575	$ (29,336)	$ (1,452,021)

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Operating activities:
Net loss	$ (268,820)	$ (33,692)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	8,471	11,370
Non-cash operating lease costs	9,024	8,717
Stock-based compensation	105,550	63,833
Deferred income taxes	3,998	(57,347)
Amortization of intangible assets and acquired technology	74,402	95,193
Amortization of debt issuance costs	1,704	1,837
Amortization of investment discount, net of premium	(1,751)	0
Changes in operating assets and liabilities:
Accounts receivable	159,247	140,154
Prepaid expenses and other assets	27,081	3,691
Accounts payable and accrued liabilities	(103,327)	(110,050)
Income taxes payable	128,750	14,863
Contract liabilities	(37,742)	(52,481)
Net cash provided by operating activities	106,587	86,088
Investing activities:
Purchases of property and equipment	(3,115)	(1,000)
Purchases of investments	(147,925)	(48,668)
Maturities of investments	151,700	47,301
Sales of investments	23,798	0
Net cash provided by / (used in) investing activities	24,458	(2,367)
Financing activities:
Payment of debt	(9,376)	(4,688)
Proceeds from issuance of common stock under employee stock purchase plan	16,131	13,644
Payments of offering costs	0	(2,085)
Payments for dividends related to Class B-2 shares	(12)	(24)
Payments for taxes related to net share settlement of equity awards	(11,100)	0
Net activity from derivatives with an other-than-insignificant financing element	0	(7,134)
Proceeds from issuance of shares under equity plans	7,653	12,474
Net cash provided by financing activities	3,296	12,187
Effect of foreign exchange rate changes on cash and cash equivalents	583	(10,803)
Net increase in cash and cash equivalents	134,924	85,105
Cash and cash equivalents at beginning of period	497,879	458,096
Cash and cash equivalents at end of period	632,803	543,201
Supplemental disclosures:
Cash paid for interest	71,062	30,481
Cash paid for income taxes, net of refunds	48,886	50,459
Non-cash investing and financing activities:
Purchases of property and equipment recorded in accounts payable and accrued liabilities	$ 780	$ 400

Organization and Description of

Organization and Description of Business	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Description of Business	Note 1. Organization and Description of Business Informatica Inc. (“Informatica” or the “Company”) has developed an artificial intelligence (“AI”) powered software platform that connects, manages, and unifies data across multi-cloud, hybrid systems at enterprise scale. The platform enables the Company’s customers to accurately track and understand their data, allowing them to create 360-degree customer experiences, automate data operations across enterprise-wide business processes, and pursue holistic data-driven digital strategies by guiding workload migrations to the cloud. The Company’s platform includes a suite of interoperable data management products that leverage the shared services and metadata of the underlying platform, including products for Data Integration, API & Application Integration, Data Quality, Master Data Management, Customer and Business 360, Data Catalog and Governance and Privacy. The Company was incorporated as a Delaware corporation on June 4, 2021.

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Basis of Presentation and Summary of Significant Accounting Policies	Note 2. Basis of Presentation and Summary of Significant Accounting Policies Basis of Presentation and Consolidation The accompanying unaudited condensed consolidated financial statements include those of the Company and its subsidiaries, after elimination of all intercompany accounts and transactions. The Company has prepared the accompanying unaudited condensed consolidated financial statements in accordance with U.S. generally accepted accounting principles (“GAAP”) and pursuant to the rules and regulations of the United States Securities and Exchange Commission (the “SEC”). In management’s opinion, these unaudited condensed consolidated financial statements have been prepared on the same basis as the annual consolidated financial statements and reflect all adjustments, which include recurring adjustments necessary for the fair statement of the Company’s financial position as of June 30, 2023 and the results of operations for the three and six months ended June 30, 2023. The results of operations for the three and six months ended June 30, 2023 are not necessarily indicative of the results to be expected for the full year or any other future interim or annual period. Segment Reporting The Company manages, monitors and reports its operating results and financial position as a single operating segment. The Company’s chief operating decision-maker is its Chief Executive Officer who makes operating decisions, assesses financial performance and allocates resources based on consolidated financial information. As such, the Company has determined that it operates in one reportable segment. Use of Estimates The Company’s unaudited condensed consolidated financial statements are prepared in accordance with GAAP, which require management to make certain estimates, judgments, and assumptions. For example, management makes estimates, judgments and assumptions in determination of performance obligations and standalone selling price used in revenue recognition, the realizability of deferred tax assets, uncertain tax positions and the recoverability of intangible assets and their useful lives. Management believes the estimates, judgments, and assumptions upon which it relies are reasonable based on information available at the time that these estimates, judgments, and assumptions are made. These estimates, judgments, and assumptions can affect the reported amounts of assets and liabilities as of the date of the consolidated financial statements as well as the reported amounts of revenues and expenses during the periods presented. Any material differences between these estimates and actual results will impact the Company’s unaudited condensed consolidated financial statements. The Company assesses these estimates on a regular basis, however actual results could differ from estimates due to risks and uncertainties. Summary of Significant Accounting Policies The Company’s significant accounting policies are discussed in “Note 2 – Summary of Significant Accounting Policies ” of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022, which was filed with the SEC on February 27, 2023. There have been no material changes to these policies during the three and six months ended June 30, 2023, except for the following update to the Software Revenue section of the revenue recognition accounting policy to discuss cloud-based subscription products with consumption-based pricing models based on Informatica Processing Units (“IPUs”). Certain arrangements for the Company’s cloud-based subscription products provide for a maximum number of IPUs that are pre-purchased at the beginning of the arrangement to be consumed over the subscription term, with consumption measured either monthly or annually. For arrangements where consumption is measured annually, additional fees are charged for IPUs consumed above the annual maximum, if the customer’s usage requires it. The transaction price for cloud-based subscription products with consumption-based pricing is determined based on the pre-purchased amount and, for arrangements where consumption is measured annually, an estimate of additional fees that the Company is entitled to. The Company constrains its estimate based on factors that could lead to a probable significant reversal of cumulative revenue recognized. Revenues from the Company’s cloud-based subscription products with consumption-based pricing are recognized over time on a ratable basis over the applicable period beginning on the date that the service is made available to the customer or on the date the contractual term commences, if later.

Cash, Cash Equivalents, and Inv

Cash, Cash Equivalents, and Investments	6 Months Ended
	Jun. 30, 2023
Cash and Cash Equivalents [Abstract]
Cash, Cash Equivalents, and Investments	Note 3. Cash, Cash Equivalents, and Investments The following table summarizes the Company’s cash, cash equivalents and investments as of June 30, 2023 and December 31, 2022 (in thousands). June 30, December 31, 2023 2022 Cash $ 150,152 $ 165,599 Cash equivalents: Time deposits 84,253 51,192 Money market funds 386,443 273,098 Commercial paper 11,955 7,990 Total cash equivalents 482,651 332,280 Total cash and cash equivalents $ 632,803 $ 497,879 Short-term investments: Time deposits 101,495 125,281 Commercial paper 53,255 27,708 Corporate debt securities 3,911 21,724 U.S. government and agency securities 26,171 39,597 Non-U.S. government and agency securities 3,861 3,946 Total short-term investments $ 188,693 $ 218,256 Long-term investments (i) : Corporate debt securities 3,875 — Total long-term investments $ 3,875 $ — Total cash, cash equivalents and investments $ 825,371 $ 716,135 _____________ (i) Included in other assets on the condensed consolidated balance sheets. See Note 5. Fair Value Measurements of the Notes to Condensed Consolidated Financial Statements of this Report for further information regarding the fair value of the Company’s financial instruments.

Available-For-Sale Debt Securit

Available-For-Sale Debt Securities	6 Months Ended
	Jun. 30, 2023
Investments, Debt and Equity Securities [Abstract]
Available-For-Sale Debt Securities	Note 4. Available-For-Sale Debt Securities The following table summarizes the Company’s available-for-sale debt securities as of June 30, 2023 (in thousands). June 30, 2023 Amortized Cost Unrealized Gains Unrealized Losses Fair Value U.S. government securities $ 7,867 $ 1 $ — $ 7,868 U.S. government agency securities 18,312 8 (17) 18,303 Non-U.S. government securities 3,879 — (18) 3,861 Corporate debt securities 7,821 — (35) 7,786 Commercial paper 65,242 — (32) 65,210 Total $ 103,121 $ 9 $ (102) $ 103,028 The following table summarizes the Company’s available-for-sale debt securities as of December 31, 2022 (in thousands). December 31, 2022 Amortized Cost Unrealized Gains Unrealized Losses Fair Value U.S. government agency securities $ 39,634 $ 5 $ (42) $ 39,597 Non-U.S. government securities 3,964 — (18) 3,946 Corporate debt securities 21,850 — (126) 21,724 Commercial paper 35,745 — (47) 35,698 Total $ 101,193 $ 5 $ (233) $ 100,965 There was approximately $0.1 million realized losses related to available-for-sale debt securities for the three and six months ended June 30, 2023. As of June 30, 2023, the fair value of the Company’s available-for-sale debt securities with contractual maturity of one year or less and one through three years from the condensed consolidated balance sheet date was $99.2 million and $3.9 million, respectively. As of June 30, 2023, the gross unrealized losses that have been in a continuous unrealized loss position for less than 12 months were $0.1 million, which were related to $84.7 million of available-for-sale debt securities. There were no gross unrealized losses that have been in a continuous unrealized loss position for more than 12 months. The Company did not recognize any credit losses related to the Company’s debt securities during the three and six months ended June 30, 2023. Unrealized losses related to available-for-sale debt securities are due to interest rate fluctuations as opposed to credit quality. The Company does not intend to sell these investments. In addition, it is more likely than not that the Company will not be required to sell them before recovery of the amortized cost basis, which may be at maturity.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 5. Fair Value Measurements The Company uses a three-level fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value based on whether the inputs to those valuation techniques are observable or unobservable. The three levels of fair value hierarchy are set forth below. The Company’s assessment of the hierarchy level of the assets or liabilities measured at fair value is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Level 1 Quoted prices in active markets for identical assets or liabilities. Level 2 Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices in active markets for similar assets or liabilities, quoted prices for identical or similar assets or liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 Unobservable inputs that are supported by little or no market activity and that are significant to the fair values of the assets or liabilities. The Company does not have any assets or liabilities classified as Level 3. Fair Value Measurement of Financial Assets and Liabilities on a Recurring Basis The following table presents information about the Company’s financial assets and financial liabilities that are measured at fair value on a recurring basis as of June 30, 2023 and indicates the fair value hierarchy of the valuation (in thousands): Total Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Time deposits $ 185,748 $ 185,748 $ — $ — Money market funds 386,443 386,443 — — Commercial paper 65,210 — 65,210 — Corporate debt securities 7,786 — 7,786 — U.S. government and U.S. government agency securities 26,171 — 26,171 — Non-U.S. government securities 3,861 — 3,861 — Total cash equivalents and investments 675,219 572,191 103,028 — Foreign currency derivatives 1,271 — 1,271 — Total assets $ 676,490 $ 572,191 $ 104,299 $ — Liabilities: Foreign currency derivatives $ 22 $ — 22 $ — Total liabilities $ 22 $ — $ 22 $ — The following table presents information about the Company’s financial assets and financial liabilities that are measured at fair value on a recurring basis as of December 31, 2022 and indicates the fair value hierarchy of the valuation (in thousands): Total Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Time deposits $ 176,473 $ 176,473 $ — $ — Money market funds 273,098 273,098 — — Commercial paper 35,698 — 35,698 — Corporate debt securities 21,724 — 21,724 — U.S. government and U.S. government agency securities 39,597 — 39,597 — Non-U.S. government securities 3,946 — 3,946 — Total cash equivalents and investments 550,536 449,571 100,965 — Foreign currency derivatives 88 — 88 — Total assets $ 550,624 $ 449,571 $ 101,053 $ — Liabilities: Foreign currency derivatives $ 3,343 $ — $ 3,343 $ — Total liabilities $ 3,343 $ — $ 3,343 $ — There were no transfers between Level 1, Level 2 and Level 3 categories during the three and six months ended June 30, 2023 and 2022.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	6 Months Ended
	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Note 6. Goodwill and Intangible Assets Goodwill The following table presents the changes in the carrying amount of the goodwill for the six months ended June 30, 2023 (in thousands): Amount Ending balance as of December 31, 2022 $ 2,337,036 Foreign currency translation adjustment 12,845 Ending Balance as of June 30, 2023 $ 2,349,881 Goodwill represents the excess of consideration paid over the estimated fair value of net tangible and identifiable intangible assets acquired in business combinations. Intangible Assets The carrying amounts of the intangible assets other than goodwill as of June 30, 2023 and December 31, 2022 are as follows (in thousands, except years): Weighted Average Useful Life (Years) June 30, 2023 December 31, 2022 Cost Accumulated Amortization Net Cost Accumulated Amortization Net Acquired developed and core technology 6 $ 877,080 $ (865,082) $ 11,998 $ 876,949 $ (859,319) $ 17,630 Other intangible assets: Customer relationships 15 2,157,067 (1,424,526) 732,541 2,154,735 (1,359,837) 794,898 Trade names and trademark 7 81,528 (69,928) 11,600 81,442 (65,978) 15,464 Total other intangible assets 2,238,595 (1,494,454) 744,141 2,236,177 (1,425,815) 810,362 Total intangible assets, net $ 3,115,675 $ (2,359,536) $ 756,139 $ 3,113,126 $ (2,285,134) $ 827,992 The Company amortizes its intangible assets over their remaining estimated useful life using cash flow projections, revenue projections, or the straight-line method. Total amortization expense related to intangible assets was $37.2 million and $47.4 million for the three months ended June 30, 2023 and 2022, respectively. Total amortization expense related to intangible assets was $74.4 million and $95.2 million for the six months ended June 30, 2023 and 2022, respectively. The allocation of the amortization of intangible assets for the periods indicated below is as follows (in thousands): Three Months Ended June 30, Six months ended June 30, 2023 2022 2023 2022 Cost of revenues $ 2,889 $ 8,936 $ 5,763 $ 18,073 Operating expenses 34,348 38,459 68,639 77,120 Total amortization of intangible assets $ 37,237 $ 47,395 $ 74,402 $ 95,193 Certain intangible assets are recorded in foreign currencies; and therefore, the gross carrying amount and accumulated amortization are subject to foreign currency translation adjustments. As of June 30, 2023, the amortization expense related to identifiable intangible assets in future periods is expected to be as follows (in thousands): Acquired Other Intangible Assets Total Intangible Assets Remaining 2023 $ 5,806 $ 68,748 $ 74,554 2024 3,427 121,517 124,944 2025 1,626 99,387 101,013 2026 926 86,536 87,462 2027 184 75,263 75,447 Thereafter 29 292,690 292,719 Total expected amortization expense $ 11,998 $ 744,141 $ 756,139

Borrowings

Borrowings	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Borrowings	Note 7. Borrowings Long term debt consists of the following (in thousands): June 30, 2023 December 31, 2022 Dollar term loan $ 1,851,563 $ 1,860,938 Less: Discount on term loan (6,994) (7,529) Less: Debt issuance costs (11,984) (12,899) Total debt, net of discount and debt issuance costs 1,832,585 1,840,510 Less: Current portion of long-term debt (18,750) (18,750) Long-term debt, net of current portion $ 1,813,835 $ 1,821,760 As of June 30, 2023 and December 31, 2022, the aggregate fair value of the Company’s dollar term loan, based on Level 2 inputs related to fair market value, were $1,851.6 million and $1,830.2 million, respectively. Credit Facilities The Company has a credit agreement with JPMorgan Chase Bank, N.A., as agent, for a syndicate of lenders (the “Credit Agreement”). Under the Credit Agreement, the Company borrowed $1.9 billion of dollar term loans (the “Term Facility”) and obtained $250.0 million of commitments under a revolving credit facility (the “Revolving Facility” and, together with the Term Facility, the “Credit Facilities”). The Term Facility matures on October 29, 2028 and is repayable in quarterly installments of 0.25% of the initial principal amount thereof, with the remaining amount due at maturity. The Revolving Facility matures on October 29, 2026. The Company may prepay all or part of the Credit Facilities at any time. Subject to certain exceptions and limitations, the Company is required to prepay the Term Facility with the net proceeds of certain occurrences, such as the incurrences of indebtedness not permitted to be incurred under the Credit Agreement, credit sale and leaseback transactions and asset sales. The agreement also requires mandatory prepayments of the Term Facility with excess cash flow as specified in the terms of the Credit Agreement. During the first half of 2023, the borrowings under the Term Facility bore interest, at the Company’s option, either at (i) LIBOR plus 2.75% or (ii) the base rate plus 1.75%. The base rate was defined as the highest of (a) the Federal Funds Rate plus one half of 1%, (b) the rate of interest in effect for such day as published by the Wall Street Journal as the “prime rate,” and (c) LIBOR plus 1.00%; provided that the base rate shall not be less than 1.00% per annum. LIBOR was subject to a “floor” of 0% per annum. The Term Facility was issued with 0.125% of original issue discount. The Revolving Facility accrued interest at a per annum rate based on either, at the Company’s election, (i) LIBOR plus the applicable margin for LIBOR loans ranging between 2.50% and 2.00% based on the Company’s total net first lien leverage ratio or (ii) the base rate plus an applicable margin ranging between 1.50% and 1.00% based on the Company’s total net first lien leverage ratio. No amounts were outstanding under the Revolving Facility as of June 30, 2023 and December 31, 2022. There were $1.9 million and $1.7 million of utilized letters of credit under the Revolving Facility at June 30, 2023 and December 31, 2022, respectively. The Company guarantees the obligations under the Credit Agreement. All obligations under the Credit Agreement are secured by a perfected lien or security interest in substantially all of the Company’s and the guarantors’ tangible and intangible assets. The Credit Agreement also provides for a borrowing facility of $15.0 million, which is available on a same day basis and a letter of credit facility of $30.0 million. The Credit Agreement also includes an uncommitted incremental facility subject to compliance with certain leverage tests and borrowing limits. Accrued interest was payable (i) quarterly in arrears with respect to base rate loans, (ii) at the end of each interest rate period (or at each three- month interval in the case of loans with interest periods greater than 3 months) with respect to LIBOR loans, (iii) the date of any repayment or prepayment, and (iv) at maturity (whether by acceleration or otherwise). The Company is also obligated to pay other customary closing fees, arrangement fees, administrative fees, commitment fees, and letter of credit fees. Under the Credit Agreement, a commitment fee is payable on the daily unutilized amount under the Revolving Facility at a per annum rate ranging from 0.35% to 0.25% depending on the Company’s total net first lien leverage ratio. The Credit Agreement requires that, as of the last day of any fiscal quarter if on such date the aggregate principal amount of all (a) revolving loans, (b) swingline loans, and (c) letter of credit obligations (in excess of $15 million) exceed 35% of the revolving loan commitments, the total net first lien leverage ratio cannot exceed 6.25 to 1.00. The occurrence of an event of default could result in the acceleration of the obligations under the Credit Agreement. Under certain circumstances, a default interest rate equal to 2.00% above the then-applicable interest rate will apply during the existence of an event of default under the Credit Agreement. The Company was in compliance with all covenants under the Credit Agreement as of June 30, 2023. The Credit Agreement, among other things, limits the ability of the Company and its restricted subsidiaries to incur or guarantee additional indebtedness; pay dividends or make distributions or redeem or repurchase capital stock; prepay, redeem or repurchase certain subordinated debt; make certain loans or investments; create liens; merge or consolidate with another company or transfer or sell assets; enter into restrictions affecting the ability of certain restricted subsidiaries to make distributions, loans or advances to the Company or its restricted subsidiaries; and engage in transactions with affiliates. These covenants are subject to a number of important limitations and exceptions, which are described in the Credit Agreement. On June 13, 2023, the Company entered into Amendment No. 1 (the “Amendment”) to the Credit Agreement. The Amendment replaced the LIBOR interest rate benchmark with the Secured Overnight Financing Rate (“SOFR”) benchmark, with a credit spread adjustment to the SOFR benchmark ranging from 0.11448% to 0.71513% depending on the interest period, effective July 1, 2023. Other than the foregoing, the material terms of the Credit Agreement remain unchanged.The Company elected to apply an optional expedient pursuant to ASC 848, Reference Rate Reform, according to which the Company will account for the Amendment as a continuation of the existing contract. Future minimum principal payments Future minimum principal payments on the Term Facility as of June 30, 2023 are as follows (in thousands): Remaining 2023 $ 9,375 2024 18,750 2025 18,750 2026 18,750 2027 18,750 Thereafter 1,767,188 Total $ 1,851,563

Disaggregation of Revenue, Cont

Disaggregation of Revenue, Contract Liabilities, Remaining Performance Obligations, Credit Risk and Capitalized Costs to Obtain a Contract	6 Months Ended
	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue, Contract Liabilities, Remaining Performance Obligations, Credit Risk and Capitalized Costs to Obtain a Contract	Note 8. Disaggregation of Revenue, Contract Liabilities, Remaining Performance Obligations, Credit Risk and Capitalized Costs to Obtain a Contract The following table presents the disaggregation of revenue by revenue type, consistent with how the Company evaluates its financial performance, for the three and six months ended June 30, 2023 and 2022 (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Revenue: Cloud and subscription support $ 170,711 $ 136,920 $ 334,084 $ 267,819 Self-managed subscription license 56,878 70,123 107,427 136,971 Subscription 227,589 207,043 441,511 404,790 Perpetual license 13 2,300 819 4,972 Software revenue 227,602 209,343 442,330 409,762 Maintenance 124,851 131,834 250,226 264,312 Professional services 23,535 30,862 48,863 60,312 Maintenance and professional services revenue 148,386 162,696 299,089 324,624 Total revenues $ 375,988 $ 372,039 $ 741,419 $ 734,386 Revenue by geographic location for the three and six months ended June 30, 2023 and 2022 (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 North America $ 256,589 $ 255,585 $ 507,626 $ 498,932 EMEA 80,992 77,728 157,994 156,483 Asia Pacific 29,825 30,658 59,421 63,074 Latin America 8,582 8,068 16,378 15,897 Total revenues $ 375,988 $ 372,039 $ 741,419 $ 734,386 In the three months ended June 30, 2023 and 2022, the Company’s revenue from customers in the United States was $239.0 million and $242.9 million, respectively. In the six months ended June 30, 2023 and 2022, the Company’s revenue from customers in the United States was $472.4 million and $472.9 million, respectively. No foreign country represented 10% or more of the Company’s total revenue during the three and six months ended June 30, 2023 and 2022. Contract Liabilities As of June 30, 2023, deferred revenue and customer deposit liabilities were $662.2 million and $1.2 million, respectively. As of December 31, 2022, deferred revenue and customer deposit liabilities were $697.5 million and $2.0 million, respectively. The amount of revenues recognized during the three and six months ended June 30, 2023 that were included in the opening contract liabilities balance as of January 1, 2023 was approximately $198.0 million and $459.7 million, respectively. The amount of revenues recognized during the three and six months ended June 30, 2022 that were included in the opening contract liabilities balance as of January 1, 2022 were approximately $190.2 million and $411.7 million, respectively. Remaining Performance Obligations from Customer Contracts As of June 30, 2023, the Company’s remaining performance obligations was $1.3 billion, which does not include customer deposit liabilities. The Company expects to recognize approximately 68% of its remaining performance obligations at June 30, 2023 as revenues over the next twelve months and the remainder over the next two to three years. Concentrations of Credit Risk and Credit Evaluations No customer accounted for more than 10% of revenue during the three and six months ended June 30, 2023 and 2022. At June 30, 2023 and December 31, 2022, no customer accounted for more than 10% of the accounts receivable balance. Capitalized Costs to Obtain a Contract Capitalized costs to obtain contracts consist of sales commissions and related payroll taxes (together “deferred commissions”). The changes in the capitalized costs to obtain a contract for the six months ended June 30, 2023 (in thousands): Amount Ending balance as of December 31, 2022 $ 217,804 Additions 27,180 Commissions amortized (35,896) Revaluation 732 Ending balance as of June 30, 2023 $ 209,820 As of June 30, 2023, $70.0 million and $139.8 million of deferred commissions balance were included in prepaid expenses and other current assets and other assets in the condensed consolidated balance sheet, respectively.

Restructuring

Restructuring	6 Months Ended
	Jun. 30, 2023
Restructuring and Related Activities [Abstract]
Restructuring	Note 9. RestructuringOn January 10, 2023, the Company announced a plan to reduce its workforce by approximately 450 employees, representing approximately 7% of the Company’s global workforce, and a closure of an office in Israel (the “Plan”). The Plan is intended to better align the Company’s global workforce and cost base with its cloud-focused strategic priorities and current business needs. In the first half of 2023, the Company recorded $27.7 million of severance, transition and related costs, including $1.1 million related to the right-of-use assets impairment charge for an office closure. These costs were substantially paid as of June 30, 2023.

Derivative Financial Instrument

Derivative Financial Instruments	6 Months Ended
	Jun. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	Note 10. Derivative Financial Instruments The Company’s earnings and cash flows are subject to market risks as a result of foreign currency exchange rate and interest rate fluctuations. The Company uses derivative financial instruments to manage its exposure to foreign currency exchange rate which is inherent to its ongoing business operations. The Company and its subsidiaries do not enter into derivative contracts for speculative purposes. Foreign Exchange Forward Contracts The Company enters into foreign exchange forward contracts in an attempt to reduce the impact of foreign currency exchange rate fluctuations and designates these contracts as cash flow hedges at inception. The objective is to reduce the volatility of forecasted cash flows and expenses caused by movements in foreign currency exchange rates, in particular the Indian rupee. The Company is currently using foreign exchange forward contracts to hedge the anticipated foreign currency expenses of its subsidiary in India. The Company recognizes in earnings amounts related to its designated cash flow hedges accumulated in other comprehensive income during the same period in which the corresponding underlying hedged transaction affects earnings. As of June 30, 2023, a net unrealized gain of app roximately $0.9 million accumulated in other comprehensive loss is expected to be reclassified into earnings within the next twelve months. The Company has forecast the amount of its anticipated foreign currency expenses based on its historical performance and projected financial plan . As of June 30, 2023, the remaining open foreign exchange contracts, carried at fair value, are hedging Indian rupee expenses and have a maturity of twelve months or less. These foreign exchange contracts mature monthly as the foreign currency denominated expenses are paid and any gain or loss is offset against operating expense. Once the hedged item is recognized, the cash flow hedge is de-designated and subsequent changes in value are recognized in other income, net, to offset changes in the value of the resulting non-functional currency monetary assets or liabilities. The notional amounts of these foreign exchange forward contracts in U.S. dollar equivalents were to buy $108.2 million and $100.3 million of Indian rupe es as of June 30, 2023 and December 31, 2022, respectively. Interest Rate Swaps During the year ended December 31, 2022, the Company had two interest rate swap agreements to offset the variability of cash flows associated with the floating rate interest payments related to the Term Facilities. See Note 7. Borrowings in the Notes to Condensed Consolidated Financial Statements of this Report for further discussion of the credit facilities. These swaps were designated as cash flow hedges of floating rate interest payments. Both interest rate swaps matured as of December 31, 2022. Balance Sheet Hedges Balance sheet hedges consist of cash flow hedge contracts that have been de-designated and non-designated balance sheet hedges. These foreign exchange contracts are carried at fair value and either did not or no longer qualify for hedge accounting treatment and are not designated as hedging instruments. Changes in the value of the foreign exchange contracts are recognized in other income, net and offset the foreign currency gain or loss on the underlying net monetary assets or liabilities. The notional amounts of foreign currency purchase contracts open in U.S. dollar equivalents were to buy $12.2 million and $10.4 million of Indian rupees at June 30, 2023 and December 31, 2022, respectively. There were no open foreign currency contracts to sell at June 30, 2023 and December 31, 2022, respectively. The following table reflects the fair value amounts for designated and non-designated hedging instruments at June 30, 2023 and December 31, 2022 (in thousands): June 30, 2023 December 31, 2022 Fair Value Derivative Assets (i) Fair Value Derivative Liabilities (ii) Fair Value Derivative Assets (i) Fair Value Derivative Liabilities (ii) Designated hedging instruments Foreign currency forward contracts $ 1,239 $ 22 $ 88 $ 2,827 Non-designated hedging instruments Foreign currency forward contracts 32 — — 516 Total fair value of hedging instruments $ 1,271 $ 22 $ 88 $ 3,343 _____________ (i) Included in prepaid expenses and other current assets on the condensed consolidated balance sheets. (ii) Included in accrued liabilities on the condensed consolidated balance sheets. The Company presents its derivative assets and derivative liabilities at gross fair values in the condensed consolidated balance sheets. However, under the master netting agreements with the respective counterparties of the foreign exchange contracts, subject to applicable requirements, the Company is allowed to net settle transactions of the same currency with a single net amount payable by one party to the other. The derivatives held by the Company are not subject to any credit contingent features negotiated with its counterparties. The Company is not required to pledge nor is entitled to receive cash collateral related to the above contracts. As of June 30, 2023 and December 31, 2022, there were no derivative assets or liabilities that were net settled under the master netting agreements. The Company evaluates prospectively as well as retrospectively the effectiveness of its hedge programs using statistical analysis. Prospective testing is performed at the inception of the hedge relationship and quarterly thereafter. Retrospective testing is performed on a quarterly basis. The before-tax effects of derivative instruments designated as cash flow hedges on the accumulated other comprehensive loss and condensed consolidated statements of operations for the periods indicated below are as follows (in thousands): Three Months Ended June 30, Six months ended June 30, 2023 2022 2023 2022 Amount of gain recognized in other comprehensive loss(i) $ 1,205 $ 674 $ 2,454 $ 5,977 Amount of (loss) gain related to foreign exchange forward contracts reclassified from accumulated other comprehensive loss into income(ii) $ (344) $ 60 $ (1,504) $ 473 Amount of loss related to interest rate swaps reclassified from accumulated other comprehensive loss into income as interest expense $ — $ (722) $ — $ (2,671) _____________ (i) The before-tax gain of $1,205 related to foreign exchange forward contracts was recognized in other comprehensive loss during the three months ended June 30, 2023. The before-tax loss of $(2,449) related to foreign exchange forward contracts and before-tax gain of $3,123 related to interest rate swaps were recognized in other comprehensive loss during the three months ended June 30, 2022. The before-tax gain of $2,454 related to foreign exchange forward contracts was recognized in other comprehensive loss during the six months ended June 30, 2023. The before-tax loss of $(2,990) related to foreign exchange forward contracts and before-tax gain of $8,967 related to interest rat e swaps were recognized in other comprehensive loss during the six months ended June 30, 2022. (ii) For the three months ended June 30, 2023, the before-tax loss of $(69) and $(275) were included in cost of service revenues and operating expenses, primarily research and development expense, respectively, on the condensed consolidated statements of operations. For the three months ended June 30, 2022, the before-tax gains of $13 and $47 were included in cost of service revenues and operating expenses, primarily research and development expense, respectively, on the condensed consolidated statements of operations . For the six months ended June 30, 2023, the before-tax loss of $(295) and $(1,209) were included in cost of service revenues and operating expenses, primarily research and development expense, respectively, on th e condensed consolidated statements of operations. For the six months ended June 30, 2022, the before-tax gains of $109 and $364 were included in cost of service revenues and operating expenses, primarily research and development expense, respectively, on the condensed consolidated statements of operations. The before-tax gain recognized in other income, net for non-designated foreign currency forward contracts and interest rate swaps for the periods indicated below are as follows (in thousands): Three Months Ended June 30, Six months ended June 30, 2023 2022 2023 2022 Gain recognized in other income, net $ 42 $ 1,663 $ 107 $ 5,320 See Note 5. Fair Value Measurements and Note 14. Commitments and Contingencies in the Notes to Condensed Consolidated Financial Statements of this Report for a further discussion.

Stockholders Equity

Stockholders Equity	6 Months Ended
	Jun. 30, 2023
Equity [Abstract]
Stockholders Equity	Note 11. Stockholders Equity Common and Preferred Stock The rights of the holders of Class A common stock and Class B-1 common stock are identical in all respects, except that Class B-1 common stock will not vote on the election or removal of directors. The holders of Class B-2 common stock have no participating rights (voting or otherwise), except for the right to vote on the election or removal of directors and will be entitled to a nominal annual dividend of CAD15,000 in the aggregate. Equity Incentive Plans The Company’s equity incentive plans are administered by the Compensation Committee of the Board of Directors (the “Compensation Committee”). The Company adopted the 2015 Equity Incentive Plan (the “2015 Plan”) and most recently amended and restated the 2015 Plan in October 2021. Under the 2015 Plan, the Company issued equity awards in the form of options to acquire shares of the Company. The options are not intended to qualify as Incentive Stock Options within the meaning of Section 422 of the Internal Revenue Code. The term of the options granted under this plan is ten years with a vesting requirement of continued employment through the applicable vesting date, and in certain cases attainment of performance criteria (“performance-based options”). In connection with the adoption of the 2021 Plan (as defined below), the 2015 Plan was terminated with respect to future awards. The 2015 Plan continues to govern awards that were granted prior to the effectiveness of the 2021 Plan. In October 2021, the Company’s Compensation Committee adopted, and its stockholders approved, the 2021 Equity Incentive Plan (the "2021 Plan"), which became effective in connection with the IPO. As of June 30, 2023, a total of 61.0 million shares of the Company’s Class A common stock has been reserved for issuance under the 2021 Plan. Stock Options The following table summarizes the option award activity for the six months ended June 30, 2023 (in thousands, except share price, fair value and term): Number of Options Weighted- Weighted- Aggregate Total Service Performance- Outstanding at December 31, 2022 22,820 15,504 7,316 $ 16.83 6.34 $ 51,157 Exercised (733) (395) (338) $ 10.44 Forfeited or expired (1,102) (862) (239) $ 21.60 Outstanding at June 30, 2023 20,985 14,247 6,738 $ 16.80 5.66 $ 64,814 As of June 30, 2023, total unrecognized stock-based compensation expense related to unvested options was $16.1 million and is expected to be recognized over the remaining weighted-average vesting period of 3.40 years. Restricted Stock Units ("RSUs") and Performance Stock Units (“PSUs”) The Company issues RSUs to employees and directors under the 2021 Plan. RSUs vest upon the satisfaction of a service-based vesting condition only. The service-based condition for the majority of the employee awards is generally satisfied pro-rata over two The Company issues PSUs to employees under the 2021 Plan. PSUs are eligible to vest upon the satisfaction of both an achievement of one or more performance conditions and a service-based vesting condition. The following table summarizes RSU and PSU activity and related information during the six months ended June 30, 2023 under the 2021 Plan (in thousands, except share price): Number of Shares Weighted-Average Grant Date Fair Value Unvested and outstanding as of December 31, 2022 17,346 $ 22.95 Granted 9,849 17.38 Vested (3,093) 23.03 Forfeited (1,562) 23.23 Unvested and outstanding as of June 30, 2023 22,540 $ 20.46 As of June 30, 2023, the total unrecognized stock-based compensation expense related to the RSUs and PSUs outstanding was $410.7 million and is expected to be recognized over the remaining weighted-average vesting period of 2.29 years. During the three months ended June 30, 2023, the Company began funding withholding taxes in certain jurisdictions due upon the vesting of employee RSUs by net share settlement, rather than its previous approach of selling shares of the Company’s Class A common stock. The amount of withholding taxes related to net share settlement of RSUs is reflected as (i) a reduction to additional paid-in-capital, and (ii) cash outflows under financing activities when the payments are made. The shares withheld by the Company as a result of the net share settlement of RSUs are not considered issued and outstanding, and do not impact the calculation of basic net income (loss) per share attributable to common stockholders. Employee Stock Purchase Plan (“ESPP”) In October 2021, the Company’s Compensation Committee approved the ESPP, which became effective in connection with the IPO. The ESPP authorizes the issuance of shares of Class A common stock pursuant to purchase rights granted to employees. As of June 30, 2023, a total of 11.1 million shares of the Company’s Class A common stock has been reserved for issuance under the ESPP. Under the ESPP, eligible employees are able to acquire shares of Class A common stock by accumulating funds through payroll deductions. Offering periods are generally twelve months long and begin on March 1 and September 1 of each year. The purchase price for shares of the Company’s Class A common stock purchased under the ESPP is 85% of the lesser of the fair market value of the Company’s Class A common stock on (i) the first trading day of the applicable offering period and (ii) the last trading day of each purchase period in the applicable offering period. The ESPP also includes a reset provision for the purchase price if the stock price on the purchase date is less than the stock price on the first date of the offering period. As of June 30, 2023, the total unrecognized stock-based compensation expense related to the ESPP was $7.3 million and is expected to be recognized over the remaining offering period. Stock-based Compensation The stock-based compensation for the periods indicated below are as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Cost of revenues $ 8,944 $ 5,242 $ 16,310 $ 9,817 Research and development 17,080 10,022 30,332 19,421 Sales and marketing 15,084 9,983 29,537 17,572 General and administrative 14,100 9,311 29,371 17,023 Total stock-based compensation $ 55,208 $ 34,558 $ 105,550 $ 63,833 No stock options were granted during the three and six months ended June 30, 2023. The following table summarizes the weighted-average assumptions used in estimating the fair value of the ESPP using the Black-Scholes pricing model: Three and Six Months Ended June 30, 2023 2022 ESPP: Expected term (in years) 0.5 - 1.0 0.5 - 1.0 Expected volatility 42.4% - 48.5% 34.8% - 38.3% Risk-free interest rate 5.2% - 5.1% 0.6% - 0.9% Expected dividend yield — % — % Fair value of common stock $17.06 $20.05

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Note 12. Income Taxes The Company computes its income tax provision for interim periods by applying the estimated annual effective tax rate to year-to-date pre-tax loss from recurring operations and adjusting for discrete tax items arising in that quarter. The Company's income tax expense was $122.1 million on pretax losses of $30.4 million for the three months ended June 30, 2023 and $181.6 million on pretax losses of $87.2 million for the six months ended June 30, 2023, which resulted in a negative effective tax rate of 402% and 208%, respectively. The Company’s effective tax rate differs from the U.S. statutory rate of 21% primarily due to an increase in its valuation allowance and to a lesser extent from foreign income taxed at different rates and non-deductible stock-based compensation. The Company's income tax expense was $6.8 million on pretax losses of $23.7 million for the three months ended June 30, 2022 and $8.0 million on pretax losses of $25.7 million for the six months ended June 30, 2022, which resulted in a negative effective tax rate of 29% and 31%, respectively. The Company’s effective tax rate differs from the U.S. statutory rate of 21% primarily due to foreign withholding tax not fully offset by foreign tax credits and certain discrete expenses related to stock-based compensation. ASC 740, Income Taxes, provides for the recognition of deferred tax assets if realization of such assets is more likely than not. In assessing the need for any additional valuation allowance as of June 30, 2023, the Company considered all available evidence both positive and negative, including potential for prudent and feasible tax planning strategies.

Net Loss Per Share

Net Loss Per Share	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Net Loss Per Share	Note 13. Net Loss Per Share The following table sets forth the computation of basic and diluted net loss per share (in thousands, except net loss per share): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Net loss $ (152,466) $ (30,506) $ (268,820) $ (33,692) Weighted-average shares in computing net loss per share: Basic 287,109 280,417 286,004 279,599 Diluted 287,109 280,417 286,004 279,599 Net loss per share attributable to Class A and Class B-1 common stockholders: Basic $ (0.53) $ (0.11) $ (0.94) $ (0.12) Diluted $ (0.53) $ (0.11) $ (0.94) $ (0.12) The following potentially dilutive securities were excluded from the computation of diluted net loss per share calculations for the periods presented because the impact of including them would have been anti-dilutive (in thousands): Three months ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Stock options outstanding 2,520 3,519 2,648 4,625 RSUs 1,188 92 949 72 PSUs 163 — 166 12 ESPP — — 45 27

Commitment and Contingencies

Commitment and Contingencies	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 14. Commitments and Contingencies Long-Term Purchase Obligations As of June 30, 2023, the Company had long-term purchase obligations of approximately $174.9 million, primarily related to multi-year contracts with third party vendors for hosting services related to our subscription services and software as a service commitments. The expected payments under these commitments total approximately $77.1 million and $97.8 million over the next 1 year and 1-3 years, respectively. Warranties The Company generally provides software product warranties. These are not separate performance obligations and are outside the scope of ASC 606. To date, the Company’s product warranty expense and obligations have not been material. The Company’s customer agreements generally include certain provisions for indemnifying the customer against losses, expenses, liabilities, and damages that may be awarded against the customer in the event the Company’s software is found to infringe upon a patent, copyright, trademark, or other proprietary right of a third party. The agreements generally limit the scope of and remedies for such indemnification obligations in a variety of industry-standard respects, including but not limited to certain time and scope limitations and a right to replace an infringing product with a non-infringing product. The Company believes its internal development processes and other policies and practices limit its exposure related to these indemnification provisions. In addition, the Company requires its employees to sign a proprietary information and inventions agreement, which assigns the rights to its employees’ development work to the Company. To date, the Company has not had to reimburse any of its customers for any losses related to these indemnification provisions, and no material claims against the Company are outstanding as of June 30, 2023 and December 31, 2022. The Company cannot determine the maximum amount of potential future payments, if any, related to such indemnification provisions due to the limited and infrequent history of prior indemnification claims. As permitted under Delaware law, the Company has agreements whereby the Company indemnifies its officers and directors for certain events or occurrences while the officer or director is, or was serving, at the Company’s request, in such capacity. The maximum potential amount of future payments the Company could be required to make under these indemnification agreements is unlimited; however, the Company has director and officer insurance coverage that reduces the Company’s exposure and enables the Company to recover a portion of any future amounts paid. The Company believes the estimated fair value of these indemnification agreements in excess of applicable insurance coverage is minimal. The Company accrues for loss contingencies when available information indicates that it is probable that an asset has been impaired or a liability has been incurred and the amount of the loss can be reasonably estimated. Litigation The Company is a party to various legal proceedings and claims arising from the normal course of its business activities, including proceedings and claims related to employment and intellectual property related matters. The Company reviews the status of each matter and records a provision for a liability when it is considered both probable that a liability has been incurred and the amount of the loss can be reasonably estimated. These provisions are reviewed quarterly and adjusted as additional information becomes available. If both of the criteria are not met, the Company assesses whether there is at least a reasonable possibility that a loss, or additional losses, may be incurred. If there is a reasonable possibility that a material loss may be incurred, the Company discloses the estimate of the possible loss, range of loss, or a statement that such an estimate cannot be made. Litigation is subject to inherent uncertainties. Were an unfavorable outcome to occur, there exists the possibility of a material adverse impact on the Company’s financial position and results of operation for the period in which the unfavorable outcome occurred, and potentially in future periods.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Pay vs Performance Disclosure
Net loss	$ (152,466)	$ (30,506)	$ (268,820)	$ (33,692)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	6 Months Ended
	Jun. 30, 2023 shares	Jun. 30, 2023 shares
Trading Arrangements, by Individual
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Amit Walia [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On June 8, 2023, Amit Walia, the Company’s Chief Executive Officer, adopted a written plan for the purchase or sale of securities of the Company intended to satisfy the affirmative defense conditions of Rule 10b5-1(c ) (a “Rule 10b5-1- trading arrangement”). The duration of the Rule 10b5-1- trading arrangement is until July 31, 2024 or earlier if all transactions under the Rule 10b5-1 trading arrangement are completed and provides for the potential purchase or sale of an aggregate of approximately 506,476 shares of the Company’s common stock.
Name	Amit Walia
Title	Chief Executive Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	June 8, 2023
Arrangement Duration	419 days
Aggregate Available	506,476	506,476

Basis of Presentation and Sum_2

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Basis of Presentation	The accompanying unaudited condensed consolidated financial statements include those of the Company and its subsidiaries, after elimination of all intercompany accounts and transactions. The Company has prepared the accompanying unaudited condensed consolidated financial statements in accordance with U.S. generally accepted accounting principles (“GAAP”) and pursuant to the rules and regulations of the United States Securities and Exchange Commission (the “SEC”).
Consolidation	In management’s opinion, these unaudited condensed consolidated financial statements have been prepared on the same basis as the annual consolidated financial statements and reflect all adjustments, which include recurring adjustments necessary for the fair statement of the Company’s financial position as of June 30, 2023 and the results of operations for the three and six months ended June 30, 2023. The results of operations for the three and six months ended June 30, 2023 are not necessarily indicative of the results to be expected for the full year or any other future interim or annual period.
Segment Reporting	The Company manages, monitors and reports its operating results and financial position as a single operating segment. The Company’s chief operating decision-maker is its Chief Executive Officer who makes operating decisions, assesses financial performance and allocates resources based on consolidated financial information. As such, the Company has determined that it operates in one reportable segment.
Use of Estimates	The Company’s unaudited condensed consolidated financial statements are prepared in accordance with GAAP, which require management to make certain estimates, judgments, and assumptions. For example, management makes estimates, judgments and assumptions in determination of performance obligations and standalone selling price used in revenue recognition, the realizability of deferred tax assets, uncertain tax positions and the recoverability of intangible assets and their useful lives. Management believes the estimates, judgments, and assumptions upon which it relies are reasonable based on information available at the time that these estimates, judgments, and assumptions are made. These estimates, judgments, and assumptions can affect the reported amounts of assets and liabilities as of the date of the consolidated financial statements as well as the reported amounts of revenues and expenses during the periods presented. Any material differences between these estimates and actual results will impact the Company’s unaudited condensed consolidated financial statements. The Company assesses these estimates on a regular basis, however actual results could differ from estimates due to risks and uncertainties.
Summary of Significant Accounting Policies	The Company’s significant accounting policies are discussed in “Note 2 – Summary of Significant Accounting Policies ” of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022, which was filed with the SEC on February 27, 2023. There have been no material changes to these policies during the three and six months ended June 30, 2023, except for the following update to the Software Revenue section of the revenue recognition accounting policy to discuss cloud-based subscription products with consumption-based pricing models based on Informatica Processing Units (“IPUs”). Certain arrangements for the Company’s cloud-based subscription products provide for a maximum number of IPUs that are pre-purchased at the beginning of the arrangement to be consumed over the subscription term, with consumption measured either monthly or annually. For arrangements where consumption is measured annually, additional fees are charged for IPUs consumed above the annual maximum, if the customer’s usage requires it. The transaction price for cloud-based subscription products with consumption-based pricing is determined based on the pre-purchased amount and, for arrangements where consumption is measured annually, an estimate of additional fees that the Company is entitled to. The Company constrains its estimate based on factors that could lead to a probable significant reversal of cumulative revenue recognized. Revenues from the Company’s cloud-based subscription products with consumption-based pricing are recognized over time on a ratable basis over the applicable period beginning on the date that the service is made available to the customer or on the date the contractual term commences, if later.
Derivatives	The Company presents its derivative assets and derivative liabilities at gross fair values in the condensed consolidated balance sheets. However, under the master netting agreements with the respective counterparties of the foreign exchange contracts, subject to applicable requirements, the Company is allowed to net settle transactions of the same currency with a single net amount payable by one party to the other. The derivatives held by the Company are not subject to any credit contingent features negotiated with its counterparties. The Company is not required to pledge nor is entitled to receive cash collateral related to the above contracts. As of June 30, 2023 and December 31, 2022, there were no derivative assets or liabilities that were net settled under the master netting agreements. The Company evaluates prospectively as well as retrospectively the effectiveness of its hedge programs using statistical analysis. Prospective testing is performed at the inception of the hedge relationship and quarterly thereafter. Retrospective testing is performed on a quarterly basis.
Commitments and Contingencies	Warranties The Company generally provides software product warranties. These are not separate performance obligations and are outside the scope of ASC 606. To date, the Company’s product warranty expense and obligations have not been material. The Company’s customer agreements generally include certain provisions for indemnifying the customer against losses, expenses, liabilities, and damages that may be awarded against the customer in the event the Company’s software is found to infringe upon a patent, copyright, trademark, or other proprietary right of a third party. The agreements generally limit the scope of and remedies for such indemnification obligations in a variety of industry-standard respects, including but not limited to certain time and scope limitations and a right to replace an infringing product with a non-infringing product. The Company believes its internal development processes and other policies and practices limit its exposure related to these indemnification provisions. In addition, the Company requires its employees to sign a proprietary information and inventions agreement, which assigns the rights to its employees’ development work to the Company. To date, the Company has not had to reimburse any of its customers for any losses related to these indemnification provisions, and no material claims against the Company are outstanding as of June 30, 2023 and December 31, 2022. The Company cannot determine the maximum amount of potential future payments, if any, related to such indemnification provisions due to the limited and infrequent history of prior indemnification claims. As permitted under Delaware law, the Company has agreements whereby the Company indemnifies its officers and directors for certain events or occurrences while the officer or director is, or was serving, at the Company’s request, in such capacity. The maximum potential amount of future payments the Company could be required to make under these indemnification agreements is unlimited; however, the Company has director and officer insurance coverage that reduces the Company’s exposure and enables the Company to recover a portion of any future amounts paid. The Company believes the estimated fair value of these indemnification agreements in excess of applicable insurance coverage is minimal. The Company accrues for loss contingencies when available information indicates that it is probable that an asset has been impaired or a liability has been incurred and the amount of the loss can be reasonably estimated. Litigation The Company is a party to various legal proceedings and claims arising from the normal course of its business activities, including proceedings and claims related to employment and intellectual property related matters. The Company reviews the status of each matter and records a provision for a liability when it is considered both probable that a liability has been incurred and the amount of the loss can be reasonably estimated. These provisions are reviewed quarterly and adjusted as additional information becomes available. If both of the criteria are not met, the Company assesses whether there is at least a reasonable possibility that a loss, or additional losses, may be incurred. If there is a reasonable possibility that a material loss may be incurred, the Company discloses the estimate of the possible loss, range of loss, or a statement that such an estimate cannot be made. Litigation is subject to inherent uncertainties. Were an unfavorable outcome to occur, there exists the possibility of a material adverse impact on the Company’s financial position and results of operation for the period in which the unfavorable outcome occurred, and potentially in future periods.

Cash, Cash Equivalents, and I_2

Cash, Cash Equivalents, and Investments (Tables)	6 Months Ended
	Jun. 30, 2023
Cash and Cash Equivalents [Abstract]
Cash, Cash Equivalents and Investments	The following table summarizes the Company’s cash, cash equivalents and investments as of June 30, 2023 and December 31, 2022 (in thousands). June 30, December 31, 2023 2022 Cash $ 150,152 $ 165,599 Cash equivalents: Time deposits 84,253 51,192 Money market funds 386,443 273,098 Commercial paper 11,955 7,990 Total cash equivalents 482,651 332,280 Total cash and cash equivalents $ 632,803 $ 497,879 Short-term investments: Time deposits 101,495 125,281 Commercial paper 53,255 27,708 Corporate debt securities 3,911 21,724 U.S. government and agency securities 26,171 39,597 Non-U.S. government and agency securities 3,861 3,946 Total short-term investments $ 188,693 $ 218,256 Long-term investments (i) : Corporate debt securities 3,875 — Total long-term investments $ 3,875 $ — Total cash, cash equivalents and investments $ 825,371 $ 716,135 _____________ (i) Included in other assets on the condensed consolidated balance sheets.

Available-For-Sale Debt Secur_2

Available-For-Sale Debt Securities (Tables)	6 Months Ended
	Jun. 30, 2023
Investments, Debt and Equity Securities [Abstract]
Schedule of Debt Securities, Available-for-Sale	The following table summarizes the Company’s available-for-sale debt securities as of June 30, 2023 (in thousands). June 30, 2023 Amortized Cost Unrealized Gains Unrealized Losses Fair Value U.S. government securities $ 7,867 $ 1 $ — $ 7,868 U.S. government agency securities 18,312 8 (17) 18,303 Non-U.S. government securities 3,879 — (18) 3,861 Corporate debt securities 7,821 — (35) 7,786 Commercial paper 65,242 — (32) 65,210 Total $ 103,121 $ 9 $ (102) $ 103,028 The following table summarizes the Company’s available-for-sale debt securities as of December 31, 2022 (in thousands). December 31, 2022 Amortized Cost Unrealized Gains Unrealized Losses Fair Value U.S. government agency securities $ 39,634 $ 5 $ (42) $ 39,597 Non-U.S. government securities 3,964 — (18) 3,946 Corporate debt securities 21,850 — (126) 21,724 Commercial paper 35,745 — (47) 35,698 Total $ 101,193 $ 5 $ (233) $ 100,965

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	The following table presents information about the Company’s financial assets and financial liabilities that are measured at fair value on a recurring basis as of June 30, 2023 and indicates the fair value hierarchy of the valuation (in thousands): Total Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Time deposits $ 185,748 $ 185,748 $ — $ — Money market funds 386,443 386,443 — — Commercial paper 65,210 — 65,210 — Corporate debt securities 7,786 — 7,786 — U.S. government and U.S. government agency securities 26,171 — 26,171 — Non-U.S. government securities 3,861 — 3,861 — Total cash equivalents and investments 675,219 572,191 103,028 — Foreign currency derivatives 1,271 — 1,271 — Total assets $ 676,490 $ 572,191 $ 104,299 $ — Liabilities: Foreign currency derivatives $ 22 $ — 22 $ — Total liabilities $ 22 $ — $ 22 $ — The following table presents information about the Company’s financial assets and financial liabilities that are measured at fair value on a recurring basis as of December 31, 2022 and indicates the fair value hierarchy of the valuation (in thousands): Total Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Time deposits $ 176,473 $ 176,473 $ — $ — Money market funds 273,098 273,098 — — Commercial paper 35,698 — 35,698 — Corporate debt securities 21,724 — 21,724 — U.S. government and U.S. government agency securities 39,597 — 39,597 — Non-U.S. government securities 3,946 — 3,946 — Total cash equivalents and investments 550,536 449,571 100,965 — Foreign currency derivatives 88 — 88 — Total assets $ 550,624 $ 449,571 $ 101,053 $ — Liabilities: Foreign currency derivatives $ 3,343 $ — $ 3,343 $ — Total liabilities $ 3,343 $ — $ 3,343 $ —

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The following table presents the changes in the carrying amount of the goodwill for the six months ended June 30, 2023 (in thousands): Amount Ending balance as of December 31, 2022 $ 2,337,036 Foreign currency translation adjustment 12,845 Ending Balance as of June 30, 2023 $ 2,349,881
Schedule of Finite-Lived Intangible Assets	The carrying amounts of the intangible assets other than goodwill as of June 30, 2023 and December 31, 2022 are as follows (in thousands, except years): Weighted Average Useful Life (Years) June 30, 2023 December 31, 2022 Cost Accumulated Amortization Net Cost Accumulated Amortization Net Acquired developed and core technology 6 $ 877,080 $ (865,082) $ 11,998 $ 876,949 $ (859,319) $ 17,630 Other intangible assets: Customer relationships 15 2,157,067 (1,424,526) 732,541 2,154,735 (1,359,837) 794,898 Trade names and trademark 7 81,528 (69,928) 11,600 81,442 (65,978) 15,464 Total other intangible assets 2,238,595 (1,494,454) 744,141 2,236,177 (1,425,815) 810,362 Total intangible assets, net $ 3,115,675 $ (2,359,536) $ 756,139 $ 3,113,126 $ (2,285,134) $ 827,992
Schedule of Indefinite-Lived Intangible Assets	The carrying amounts of the intangible assets other than goodwill as of June 30, 2023 and December 31, 2022 are as follows (in thousands, except years): Weighted Average Useful Life (Years) June 30, 2023 December 31, 2022 Cost Accumulated Amortization Net Cost Accumulated Amortization Net Acquired developed and core technology 6 $ 877,080 $ (865,082) $ 11,998 $ 876,949 $ (859,319) $ 17,630 Other intangible assets: Customer relationships 15 2,157,067 (1,424,526) 732,541 2,154,735 (1,359,837) 794,898 Trade names and trademark 7 81,528 (69,928) 11,600 81,442 (65,978) 15,464 Total other intangible assets 2,238,595 (1,494,454) 744,141 2,236,177 (1,425,815) 810,362 Total intangible assets, net $ 3,115,675 $ (2,359,536) $ 756,139 $ 3,113,126 $ (2,285,134) $ 827,992
Schedule of Finite-Lived Intangible Assets, Allocation of Amortization Expense	The allocation of the amortization of intangible assets for the periods indicated below is as follows (in thousands): Three Months Ended June 30, Six months ended June 30, 2023 2022 2023 2022 Cost of revenues $ 2,889 $ 8,936 $ 5,763 $ 18,073 Operating expenses 34,348 38,459 68,639 77,120 Total amortization of intangible assets $ 37,237 $ 47,395 $ 74,402 $ 95,193
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	As of June 30, 2023, the amortization expense related to identifiable intangible assets in future periods is expected to be as follows (in thousands): Acquired Other Intangible Assets Total Intangible Assets Remaining 2023 $ 5,806 $ 68,748 $ 74,554 2024 3,427 121,517 124,944 2025 1,626 99,387 101,013 2026 926 86,536 87,462 2027 184 75,263 75,447 Thereafter 29 292,690 292,719 Total expected amortization expense $ 11,998 $ 744,141 $ 756,139

Borrowings (Tables)

Borrowings (Tables)	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Schedule of Debt	Long term debt consists of the following (in thousands): June 30, 2023 December 31, 2022 Dollar term loan $ 1,851,563 $ 1,860,938 Less: Discount on term loan (6,994) (7,529) Less: Debt issuance costs (11,984) (12,899) Total debt, net of discount and debt issuance costs 1,832,585 1,840,510 Less: Current portion of long-term debt (18,750) (18,750) Long-term debt, net of current portion $ 1,813,835 $ 1,821,760
Schedule of Maturities of Long-term Debt	Future minimum principal payments on the Term Facility as of June 30, 2023 are as follows (in thousands): Remaining 2023 $ 9,375 2024 18,750 2025 18,750 2026 18,750 2027 18,750 Thereafter 1,767,188 Total $ 1,851,563

Disaggregation of Revenue, Co_2

Disaggregation of Revenue, Contract Liabilities, Remaining Performance Obligations, Credit Risk and Capitalized Costs to Obtain a Contract (Tables)	6 Months Ended
	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following table presents the disaggregation of revenue by revenue type, consistent with how the Company evaluates its financial performance, for the three and six months ended June 30, 2023 and 2022 (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Revenue: Cloud and subscription support $ 170,711 $ 136,920 $ 334,084 $ 267,819 Self-managed subscription license 56,878 70,123 107,427 136,971 Subscription 227,589 207,043 441,511 404,790 Perpetual license 13 2,300 819 4,972 Software revenue 227,602 209,343 442,330 409,762 Maintenance 124,851 131,834 250,226 264,312 Professional services 23,535 30,862 48,863 60,312 Maintenance and professional services revenue 148,386 162,696 299,089 324,624 Total revenues $ 375,988 $ 372,039 $ 741,419 $ 734,386 Revenue by geographic location for the three and six months ended June 30, 2023 and 2022 (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 North America $ 256,589 $ 255,585 $ 507,626 $ 498,932 EMEA 80,992 77,728 157,994 156,483 Asia Pacific 29,825 30,658 59,421 63,074 Latin America 8,582 8,068 16,378 15,897 Total revenues $ 375,988 $ 372,039 $ 741,419 $ 734,386
Capitalized Contract Cost	The changes in the capitalized costs to obtain a contract for the six months ended June 30, 2023 (in thousands): Amount Ending balance as of December 31, 2022 $ 217,804 Additions 27,180 Commissions amortized (35,896) Revaluation 732 Ending balance as of June 30, 2023 $ 209,820

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	The following table reflects the fair value amounts for designated and non-designated hedging instruments at June 30, 2023 and December 31, 2022 (in thousands): June 30, 2023 December 31, 2022 Fair Value Derivative Assets (i) Fair Value Derivative Liabilities (ii) Fair Value Derivative Assets (i) Fair Value Derivative Liabilities (ii) Designated hedging instruments Foreign currency forward contracts $ 1,239 $ 22 $ 88 $ 2,827 Non-designated hedging instruments Foreign currency forward contracts 32 — — 516 Total fair value of hedging instruments $ 1,271 $ 22 $ 88 $ 3,343 _____________ (i) Included in prepaid expenses and other current assets on the condensed consolidated balance sheets. (ii) Included in accrued liabilities on the condensed consolidated balance sheets.
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)	The before-tax effects of derivative instruments designated as cash flow hedges on the accumulated other comprehensive loss and condensed consolidated statements of operations for the periods indicated below are as follows (in thousands): Three Months Ended June 30, Six months ended June 30, 2023 2022 2023 2022 Amount of gain recognized in other comprehensive loss(i) $ 1,205 $ 674 $ 2,454 $ 5,977 Amount of (loss) gain related to foreign exchange forward contracts reclassified from accumulated other comprehensive loss into income(ii) $ (344) $ 60 $ (1,504) $ 473 Amount of loss related to interest rate swaps reclassified from accumulated other comprehensive loss into income as interest expense $ — $ (722) $ — $ (2,671) _____________ (i) The before-tax gain of $1,205 related to foreign exchange forward contracts was recognized in other comprehensive loss during the three months ended June 30, 2023. The before-tax loss of $(2,449) related to foreign exchange forward contracts and before-tax gain of $3,123 related to interest rate swaps were recognized in other comprehensive loss during the three months ended June 30, 2022. The before-tax gain of $2,454 related to foreign exchange forward contracts was recognized in other comprehensive loss during the six months ended June 30, 2023. The before-tax loss of $(2,990) related to foreign exchange forward contracts and before-tax gain of $8,967 related to interest rat e swaps were recognized in other comprehensive loss during the six months ended June 30, 2022. (ii) For the three months ended June 30, 2023, the before-tax loss of $(69) and $(275) were included in cost of service revenues and operating expenses, primarily research and development expense, respectively, on the condensed consolidated statements of operations. For the three months ended June 30, 2022, the before-tax gains of $13 and $47 were included in cost of service revenues and operating expenses, primarily research and development expense, respectively, on the condensed consolidated statements of operations . For the six months ended June 30, 2023, the before-tax loss of $(295) and $(1,209) were included in cost of service revenues and operating expenses, primarily research and development expense, respectively, on th e condensed consolidated statements of operations. For the six months ended June 30, 2022, the before-tax gains of $109 and $364 were included in cost of service revenues and operating expenses, primarily research and development expense, respectively, on the condensed consolidated statements of operations.
Derivative Instruments, Gain (Loss)	The before-tax gain recognized in other income, net for non-designated foreign currency forward contracts and interest rate swaps for the periods indicated below are as follows (in thousands): Three Months Ended June 30, Six months ended June 30, 2023 2022 2023 2022 Gain recognized in other income, net $ 42 $ 1,663 $ 107 $ 5,320

Stockholders Equity (Tables)

Stockholders Equity (Tables)	6 Months Ended
	Jun. 30, 2023
Equity [Abstract]
Share-based Payment Arrangement, Option, Activity	The following table summarizes the option award activity for the six months ended June 30, 2023 (in thousands, except share price, fair value and term): Number of Options Weighted- Weighted- Aggregate Total Service Performance- Outstanding at December 31, 2022 22,820 15,504 7,316 $ 16.83 6.34 $ 51,157 Exercised (733) (395) (338) $ 10.44 Forfeited or expired (1,102) (862) (239) $ 21.60 Outstanding at June 30, 2023 20,985 14,247 6,738 $ 16.80 5.66 $ 64,814
Share-based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity	The following table summarizes RSU and PSU activity and related information during the six months ended June 30, 2023 under the 2021 Plan (in thousands, except share price): Number of Shares Weighted-Average Grant Date Fair Value Unvested and outstanding as of December 31, 2022 17,346 $ 22.95 Granted 9,849 17.38 Vested (3,093) 23.03 Forfeited (1,562) 23.23 Unvested and outstanding as of June 30, 2023 22,540 $ 20.46
Share-based Payment Arrangement, Expensed and Capitalized, Amount	The stock-based compensation for the periods indicated below are as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Cost of revenues $ 8,944 $ 5,242 $ 16,310 $ 9,817 Research and development 17,080 10,022 30,332 19,421 Sales and marketing 15,084 9,983 29,537 17,572 General and administrative 14,100 9,311 29,371 17,023 Total stock-based compensation $ 55,208 $ 34,558 $ 105,550 $ 63,833
Schedule of Share-based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions	The following table summarizes the weighted-average assumptions used in estimating the fair value of the ESPP using the Black-Scholes pricing model: Three and Six Months Ended June 30, 2023 2022 ESPP: Expected term (in years) 0.5 - 1.0 0.5 - 1.0 Expected volatility 42.4% - 48.5% 34.8% - 38.3% Risk-free interest rate 5.2% - 5.1% 0.6% - 0.9% Expected dividend yield — % — % Fair value of common stock $17.06 $20.05

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following table sets forth the computation of basic and diluted net loss per share (in thousands, except net loss per share): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Net loss $ (152,466) $ (30,506) $ (268,820) $ (33,692) Weighted-average shares in computing net loss per share: Basic 287,109 280,417 286,004 279,599 Diluted 287,109 280,417 286,004 279,599 Net loss per share attributable to Class A and Class B-1 common stockholders: Basic $ (0.53) $ (0.11) $ (0.94) $ (0.12) Diluted $ (0.53) $ (0.11) $ (0.94) $ (0.12)
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The following potentially dilutive securities were excluded from the computation of diluted net loss per share calculations for the periods presented because the impact of including them would have been anti-dilutive (in thousands): Three months ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Stock options outstanding 2,520 3,519 2,648 4,625 RSUs 1,188 92 949 72 PSUs 163 — 166 12 ESPP — — 45 27

Basis of Presentation and Sum_3

Basis of Presentation and Summary of Significant Accounting Policies - Segments (Details)	6 Months Ended
	Jun. 30, 2023 segment
Accounting Policies [Abstract]
Number of operating segments	1
Number of reportable segments	1

Cash, Cash Equivalents, and I_3

Cash, Cash Equivalents, and Investments - Schedule of Cash, Cash Equivalents and Investments (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Cash and Cash Equivalents [Line Items]
Cash	$ 150,152	$ 165,599
Cash equivalents:
Time deposits	84,253	51,192
Money market funds	386,443	273,098
Commercial paper	11,955	7,990
Total cash equivalents	482,651	332,280
Total cash and cash equivalents	632,803	497,879
Short-term investments:
Total short-term investments	188,693	218,256
Long-term investments:
Total long-term investments	3,875	0
Total cash, cash equivalents and investments	825,371	716,135
Time deposits
Short-term investments:
Total short-term investments	101,495	125,281
Commercial paper
Short-term investments:
Total short-term investments	53,255	27,708
Corporate debt securities
Short-term investments:
Total short-term investments	3,911	21,724
Long-term investments:
Total long-term investments	3,875	0
U.S. government and agency securities
Short-term investments:
Total short-term investments	26,171	39,597
Non-U.S. government and agency securities
Short-term investments:
Total short-term investments	$ 3,861	$ 3,946

Available-For-Sale Debt Secur_3

Available-For-Sale Debt Securities - Schedule of Debt Securities, Available-for-Sale (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Debt Securities, Available-for-Sale [Line Items]
Amortized Cost	$ 103,121	$ 101,193
Unrealized Gains	9	5
Unrealized Losses	(102)	(233)
Fair Value	103,028	100,965
U.S. government securities
Debt Securities, Available-for-Sale [Line Items]
Amortized Cost	7,867
Unrealized Gains	1
Unrealized Losses	0
Fair Value	7,868
U.S. government agency securities
Debt Securities, Available-for-Sale [Line Items]
Amortized Cost	18,312	39,634
Unrealized Gains	8	5
Unrealized Losses	(17)	(42)
Fair Value	18,303	39,597
Non-U.S. government securities
Debt Securities, Available-for-Sale [Line Items]
Amortized Cost	3,879	3,964
Unrealized Gains	0	0
Unrealized Losses	(18)	(18)
Fair Value	3,861	3,946
Corporate debt securities
Debt Securities, Available-for-Sale [Line Items]
Amortized Cost	7,821	21,850
Unrealized Gains	0	0
Unrealized Losses	(35)	(126)
Fair Value	7,786	21,724
Commercial paper
Debt Securities, Available-for-Sale [Line Items]
Amortized Cost	65,242	35,745
Unrealized Gains	0	0
Unrealized Losses	(32)	(47)
Fair Value	$ 65,210	$ 35,698

Available-For-Sale Debt Secur_4

Available-For-Sale Debt Securities - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2023	Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Realized losses related to available-for-sale debt securities	$ 100	$ 100
Fair value maturity of one year or less	99,200	99,200
Fair value maturity years one through five	3,900	3,900
Unrealized loss	102	102	$ 233
Available-for-sale debt securities in a continuous unrealized loss position for less than 12 months	$ 84,700	$ 84,700

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Assets and Liabilities Measured on Recurring Basis (Details) - Fair Value, Recurring - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Assets:
Total cash equivalents and investments	$ 675,219	$ 550,536
Total assets	676,490	550,624
Liabilities:
Total liabilities	22	3,343
Foreign currency derivative
Assets:
Derivative assets	1,271	88
Liabilities:
Derivative liabilities	22	3,343
Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets:
Total cash equivalents and investments	572,191	449,571
Total assets	572,191	449,571
Liabilities:
Total liabilities	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Foreign currency derivative
Assets:
Derivative assets	0	0
Liabilities:
Derivative liabilities	0	0
Significant Other Observable Inputs (Level 2)
Assets:
Total cash equivalents and investments	103,028	100,965
Total assets	104,299	101,053
Liabilities:
Total liabilities	22	3,343
Significant Other Observable Inputs (Level 2) | Foreign currency derivative
Assets:
Derivative assets	1,271	88
Liabilities:
Derivative liabilities	22	3,343
Significant Unobservable Inputs (Level 3)
Assets:
Total cash equivalents and investments	0	0
Total assets	0	0
Liabilities:
Total liabilities	0	0
Significant Unobservable Inputs (Level 3) | Foreign currency derivative
Assets:
Derivative assets	0	0
Liabilities:
Derivative liabilities	0	0
Time deposits
Assets:
Total cash equivalents and investments	185,748	176,473
Time deposits | Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets:
Total cash equivalents and investments	185,748	176,473
Time deposits | Significant Other Observable Inputs (Level 2)
Assets:
Total cash equivalents and investments	0	0
Time deposits | Significant Unobservable Inputs (Level 3)
Assets:
Total cash equivalents and investments	0	0
Money market funds
Assets:
Total cash equivalents and investments	386,443	273,098
Money market funds | Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets:
Total cash equivalents and investments	386,443	273,098
Money market funds | Significant Other Observable Inputs (Level 2)
Assets:
Total cash equivalents and investments	0	0
Money market funds | Significant Unobservable Inputs (Level 3)
Assets:
Total cash equivalents and investments	0	0
Commercial paper
Assets:
Total cash equivalents and investments	65,210	35,698
Commercial paper | Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets:
Total cash equivalents and investments	0	0
Commercial paper | Significant Other Observable Inputs (Level 2)
Assets:
Total cash equivalents and investments	65,210	35,698
Commercial paper | Significant Unobservable Inputs (Level 3)
Assets:
Total cash equivalents and investments	0	0
Corporate debt securities
Assets:
Total cash equivalents and investments	7,786	21,724
Corporate debt securities | Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets:
Total cash equivalents and investments	0	0
Corporate debt securities | Significant Other Observable Inputs (Level 2)
Assets:
Total cash equivalents and investments	7,786	21,724
Corporate debt securities | Significant Unobservable Inputs (Level 3)
Assets:
Total cash equivalents and investments	0	0
U.S. government and U.S. government agency securities
Assets:
Total cash equivalents and investments	26,171	39,597
U.S. government and U.S. government agency securities | Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets:
Total cash equivalents and investments	0	0
U.S. government and U.S. government agency securities | Significant Other Observable Inputs (Level 2)
Assets:
Total cash equivalents and investments	26,171	39,597
U.S. government and U.S. government agency securities | Significant Unobservable Inputs (Level 3)
Assets:
Total cash equivalents and investments	0	0
Non-U.S. government securities
Assets:
Total cash equivalents and investments	3,861	3,946
Non-U.S. government securities | Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets:
Total cash equivalents and investments	0	0
Non-U.S. government securities | Significant Other Observable Inputs (Level 2)
Assets:
Total cash equivalents and investments	3,861	3,946
Non-U.S. government securities | Significant Unobservable Inputs (Level 3)
Assets:
Total cash equivalents and investments	$ 0	$ 0

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Schedule of Goodwill (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2023 USD ($)
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 2,337,036
Foreign currency translation adjustment	12,845
Goodwill, ending balance	$ 2,349,881

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Schedule of Finite-Lived Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets, Net [Abstract]
Cost	$ 3,115,675	$ 3,113,126
Accumulated Amortization	(2,359,536)	(2,285,134)
Net	$ 756,139	827,992
Acquired developed and core technology
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Life (Years)	6 years
Finite-Lived Intangible Assets, Net [Abstract]
Cost	$ 877,080	876,949
Accumulated Amortization	(865,082)	(859,319)
Net	11,998	17,630
Other Intangible Assets
Finite-Lived Intangible Assets, Net [Abstract]
Cost	2,238,595	2,236,177
Accumulated Amortization	(1,494,454)	(1,425,815)
Net	$ 744,141	810,362
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Life (Years)	15 years
Finite-Lived Intangible Assets, Net [Abstract]
Cost	$ 2,157,067	2,154,735
Accumulated Amortization	(1,424,526)	(1,359,837)
Net	$ 732,541	794,898
Trade names and trademark
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Life (Years)	7 years
Finite-Lived Intangible Assets, Net [Abstract]
Cost	$ 81,528	81,442
Accumulated Amortization	(69,928)	(65,978)
Net	$ 11,600	$ 15,464

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of intangible assets and acquired technology	$ 37,237	$ 47,395	$ 74,402	$ 95,193

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets - Schedule of Finite-Lived Intangible Assets, Allocation of Amortization Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Finite-Lived Intangible Assets [Line Items]
Total amortization of intangible assets	$ 37,237	$ 47,395	$ 74,402	$ 95,193
Cost of revenues
Finite-Lived Intangible Assets [Line Items]
Total amortization of intangible assets	2,889	8,936	5,763	18,073
Operating expenses
Finite-Lived Intangible Assets [Line Items]
Total amortization of intangible assets	$ 34,348	$ 38,459	$ 68,639	$ 77,120

Goodwill and Intangible Asset_6

Goodwill and Intangible Assets - Schedule of Finite-Lived Intangible Assets, Future Amortization Expense (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Remaining 2023	$ 74,554
2024	124,944
2025	101,013
2026	87,462
2027	75,447
Thereafter	292,719
Net	756,139	$ 827,992
Acquired developed and core technology
Finite-Lived Intangible Assets [Line Items]
Remaining 2023	5,806
2024	3,427
2025	1,626
2026	926
2027	184
Thereafter	29
Net	11,998	17,630
Other Intangible Assets
Finite-Lived Intangible Assets [Line Items]
Remaining 2023	68,748
2024	121,517
2025	99,387
2026	86,536
2027	75,263
Thereafter	292,690
Net	$ 744,141	$ 810,362

Borrowings - Schedule of Debt (

Borrowings - Schedule of Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Dollar term loan	$ 1,851,563
Less: Discount on term loan	(6,994)	$ (7,529)
Less: Debt issuance costs	(11,984)	(12,899)
Total debt, net of discount and debt issuance costs	1,832,585	1,840,510
Less: Current portion of long-term debt	(18,750)	(18,750)
Long-term debt, net of current portion	1,813,835	1,821,760
Dollar term loan | Medium-term Notes
Debt Instrument [Line Items]
Dollar term loan	$ 1,851,563	$ 1,860,938

Borrowings - Narrative (Details

Borrowings - Narrative (Details) - USD ($)		6 Months Ended
	Jun. 13, 2023	Jun. 30, 2023	Dec. 31, 2022	Oct. 29, 2021
Debt Instrument [Line Items]
Long-term debt		$ 1,832,585,000	$ 1,840,510,000
Fed Funds Effective Rate Overnight Index Swap Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		0.50%
Medium-term Notes
Debt Instrument [Line Items]
Long-term debt, fair value		$ 1,851,600,000	1,830,200,000
Debt instrument, quarterly installment, percentage of original principal amount		0.25%
Debt instrument, original issue discount percentage		0.125%
Medium-term Notes | London Interbank Offered Rate (LIBOR) Swap Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		1%
Medium-term Notes | London Interbank Offered Rate (LIBOR) Swap Rate | Minimum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		0%
Medium-term Notes | Base Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		1.75%
Medium-term Notes | Base Rate | Minimum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		1%
Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Debt instrument, face amount				$ 250,000,000
Long-term debt		$ 0	0
Debt instrument, covenant, maximum net leverage ratio, aggregate principal amount of letter of credit obligations (more than)		$ 15,000,000
Debt instrument, covenant, maximum net leverage ratio, percent of principal in excess of revolving loan commitments		35%
Debt instrument, covenant, maximum net leverage		0.0625
Debt instrument, debt default, principal, additional interest rate		2%
Line of Credit | Revolving Credit Facility | Minimum
Debt Instrument [Line Items]
Line of credit facility, unused capacity, commitment fee percentage		0.25%
Line of Credit | Revolving Credit Facility | Maximum
Debt Instrument [Line Items]
Line of credit facility, unused capacity, commitment fee percentage		0.35%
Line of Credit | Revolving Credit Facility | London Interbank Offered Rate (LIBOR) Swap Rate | Minimum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		2%
Line of Credit | Revolving Credit Facility | London Interbank Offered Rate (LIBOR) Swap Rate | Maximum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		2.50%
Line of Credit | Revolving Credit Facility | Base Rate | Minimum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		1%
Line of Credit | Revolving Credit Facility | Base Rate | Maximum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		1.50%
Line of Credit | Revolving Credit Facility | Secured Overnight Financing Rate (SOFR) | Minimum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0.11448%
Line of Credit | Revolving Credit Facility | Secured Overnight Financing Rate (SOFR) | Maximum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0.71513%
Line of Credit | Letter of Credit
Debt Instrument [Line Items]
Long-term debt		$ 1,900,000	$ 1,700,000
Line of credit facility, maximum borrowing capacity		30,000,000
Line of Credit | Bridge Loan
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity		$ 15,000,000
Dollar Term Loan | Medium-term Notes
Debt Instrument [Line Items]
Debt instrument, face amount				$ 1,900,000,000
Dollar Term Loan | Medium-term Notes | London Interbank Offered Rate (LIBOR) Swap Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		2.75%

Borrowings - Contractual Obliga

Borrowings - Contractual Obligation, Fiscal Year Maturity (Details) $ in Thousands	Jun. 30, 2023 USD ($)
Debt Disclosure [Abstract]
Remaining 2023	$ 9,375
2024	18,750
2025	18,750
2026	18,750
2027	18,750
Thereafter	1,767,188
Total	$ 1,851,563

Disaggregation of Revenue, Co_3

Disaggregation of Revenue, Contract Liabilities, Remaining Performance Obligations, Credit Risk and Capitalized Costs to Obtain a Contract - Disaggregation of Revenue by Type (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Disaggregation of Revenue [Line Items]
Total revenues	$ 375,988	$ 372,039	$ 741,419	$ 734,386
Software revenue
Disaggregation of Revenue [Line Items]
Total revenues	227,602	209,343	442,330	409,762
Subscription
Disaggregation of Revenue [Line Items]
Total revenues	227,589	207,043	441,511	404,790
Cloud and subscription support
Disaggregation of Revenue [Line Items]
Total revenues	170,711	136,920	334,084	267,819
Self-managed subscription license
Disaggregation of Revenue [Line Items]
Total revenues	56,878	70,123	107,427	136,971
Perpetual license
Disaggregation of Revenue [Line Items]
Total revenues	13	2,300	819	4,972
Maintenance and professional services
Disaggregation of Revenue [Line Items]
Total revenues	148,386	162,696	299,089	324,624
Maintenance
Disaggregation of Revenue [Line Items]
Total revenues	124,851	131,834	250,226	264,312
Professional services
Disaggregation of Revenue [Line Items]
Total revenues	$ 23,535	$ 30,862	$ 48,863	$ 60,312

Disaggregation of Revenue, Co_4

Disaggregation of Revenue, Contract Liabilities, Remaining Performance Obligations, Credit Risk and Capitalized Costs to Obtain a Contract - Revenue by Geographic Location (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Disaggregation of Revenue [Line Items]
Total revenues	$ 375,988	$ 372,039	$ 741,419	$ 734,386
North America
Disaggregation of Revenue [Line Items]
Total revenues	256,589	255,585	507,626	498,932
EMEA
Disaggregation of Revenue [Line Items]
Total revenues	80,992	77,728	157,994	156,483
Asia Pacific
Disaggregation of Revenue [Line Items]
Total revenues	29,825	30,658	59,421	63,074
Latin America
Disaggregation of Revenue [Line Items]
Total revenues	8,582	8,068	16,378	15,897
Untied States
Disaggregation of Revenue [Line Items]
Total revenues	$ 239,000	$ 242,900	$ 472,400	$ 472,900

Disaggregation of Revenue, Co_5

Disaggregation of Revenue, Contract Liabilities, Remaining Performance Obligations, Credit Risk and Capitalized Costs to Obtain a Contract - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Deferred revenue	$ 662,200		$ 662,200		$ 697,500
Customer deposits	1,200		1,200		2,000
Contract liabilities, revenue recognized	198,000	$ 190,200	459,700	$ 411,700
Revenue, remaining performance obligation, amount	1,300,000		1,300,000
Deferred commissions	209,820		209,820		$ 217,804
Prepaid Expenses and Other Current Assets
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Deferred commissions	70,000		70,000
Other Assets
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Deferred commissions	$ 139,800		$ 139,800
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, percentage	68%		68%
Revenue, remaining performance obligation, expected timing of satisfaction, period	12 months		12 months

Disaggregation of Revenue, Co_6

Disaggregation of Revenue, Contract Liabilities, Remaining Performance Obligations, Credit Risk and Capitalized Costs to Obtain a Contract - Capitalized Contract Costs (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2023 USD ($)
Capitalized Contract Costs [Roll Forward]
Beginning balance	$ 217,804
Additions	27,180
Commissions amortized	(35,896)
Revaluation	732
Ending balance	$ 209,820

Restructuring (Details)

Restructuring (Details) $ in Thousands		3 Months Ended		6 Months Ended
	Jan. 10, 2023 employee	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)
Restructuring and Related Activities [Abstract]
Restructuring and related cost, number of positions eliminated | employee	450
Restructuring and related cost, number of positions eliminated, period percent	7%
Restructuring		$ 471	$ 0	$ 27,724	$ 0
Impairment of right-of-use assets				$ 1,100

Derivative Financial Instrume_3

Derivative Financial Instruments - Narrative (Details) $ in Millions	Jun. 30, 2023 USD ($)	Dec. 31, 2022 USD ($) derivative_instrument
Derivative [Line Items]
Foreign currency cash flow hedge gain (loss) to be reclassified during next 12 months	$ 0.9
Foreign currency forward contracts
Derivative [Line Items]
Derivative, notional amount	108.2	$ 100.3
Interest Rate Swap
Derivative [Line Items]
Derivative, number of instruments held | derivative_instrument		2
Foreign currency derivative | Long
Derivative [Line Items]
Derivative, notional amount	$ 12.2	$ 10.4

Derivative Financial Instrume_4

Derivative Financial Instruments - Schedule of Derivative Instruments in Statement of Financial Position, Fair Value (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Prepaid Expenses and Other Current Assets
Derivative [Line Items]
Derivative assets	$ 1,271	$ 88
Accrued Liabilities
Derivative [Line Items]
Derivative liabilities	22	3,343
Designated as Hedging Instrument | Foreign currency forward contracts | Prepaid Expenses and Other Current Assets
Derivative [Line Items]
Derivative assets	1,239	88
Designated as Hedging Instrument | Foreign currency forward contracts | Accrued Liabilities
Derivative [Line Items]
Derivative liabilities	22	2,827
Not Designated as Hedging Instrument | Foreign currency forward contracts | Prepaid Expenses and Other Current Assets
Derivative [Line Items]
Derivative assets	32	0
Not Designated as Hedging Instrument | Foreign currency forward contracts | Accrued Liabilities
Derivative [Line Items]
Derivative liabilities	$ 0	$ 516

Derivative Financial Instrume_5

Derivative Financial Instruments - Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Cost of revenues
Derivative Instruments, Gain (Loss) [Line Items]
Loss on derivative instruments, pretax	$ (69)		$ (295)
Gain on derivative instruments, pretax		$ 13		$ 109
Operating expenses
Derivative Instruments, Gain (Loss) [Line Items]
Loss on derivative instruments, pretax	(275)		(1,209)
Gain on derivative instruments, pretax		47		364
Foreign currency forward contracts
Derivative Instruments, Gain (Loss) [Line Items]
Other comprehensive income (loss), cash flow hedge, gain (loss), before reclassification and tax	1,205	(2,449)	2,454	(2,990)
Interest Rate Swap
Derivative Instruments, Gain (Loss) [Line Items]
Other comprehensive income (loss), cash flow hedge, gain (loss), before reclassification and tax		3,123		8,967
Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Other comprehensive income (loss), cash flow hedge, gain (loss), before reclassification and tax	1,205	674	2,454	5,977
Designated as Hedging Instrument | Foreign currency forward contracts
Derivative Instruments, Gain (Loss) [Line Items]
Other comprehensive income (loss), cash flow hedge, gain (loss), reclassification, before tax	(344)	60	(1,504)	473
Designated as Hedging Instrument | Interest Rate Swap
Derivative Instruments, Gain (Loss) [Line Items]
Other comprehensive income (loss), cash flow hedge, gain (loss), reclassification, before tax	0	(722)	0	(2,671)
Not Designated as Hedging Instrument | Other Income (Expense), Net
Derivative Instruments, Gain (Loss) [Line Items]
Gain recognized in other income, net	$ 42	$ 1,663	$ 107	$ 5,320

Derivative Financial Instrume_6

Derivative Financial Instruments - Derivative Instruments, Gain (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Not Designated as Hedging Instrument | Other Income (Expense), Net
Derivative Instruments, Gain (Loss) [Line Items]
Gain recognized in other income, net	$ 42	$ 1,663	$ 107	$ 5,320

Stockholders Equity - Narrative

Stockholders Equity - Narrative (Details) $ in Thousands, $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2023 CAD ($) shares	Jun. 30, 2023 CAD ($) shares	Jun. 30, 2023 USD ($) shares
Class of Stock [Line Items]
Options granted (in shares) | shares	0	0
2015 Stock Plan
Class of Stock [Line Items]
Share-based compensation arrangement by share-based payment award, expiration period		10 years
2021 Stock Plan
Class of Stock [Line Items]
Common stock, capital shares reserved for future issuance (in shares) | shares	61,000,000	61,000,000	61,000,000
RSUs | Minimum
Class of Stock [Line Items]
Award vesting period		2 years
RSUs | Maximum
Class of Stock [Line Items]
Award vesting period		4 years
ESPP
Class of Stock [Line Items]
Common stock, capital shares reserved for future issuance (in shares) | shares	11,100,000	11,100,000	11,100,000
Purchase price for shares based on fair market value during offering period	85%	85%	85%
Share-based payment arrangement, nonvested award, cost not yet recognized, amount			$ 7.3
Service Based
Class of Stock [Line Items]
Share-based payment arrangement, nonvested award, cost not yet recognized, amount			16.1
Share-based payment arrangement, nonvested award, cost not yet recognized, period for recognition		3 years 4 months 24 days
Restricted Stock Units And Performance Stock Units
Class of Stock [Line Items]
Share-based payment arrangement, nonvested award, cost not yet recognized, amount			$ 410.7
Share-based payment arrangement, nonvested award, cost not yet recognized, period for recognition		2 years 3 months 14 days
Class B-2 Common Stock
Class of Stock [Line Items]
Common stock, nominal annual dividend	$ 15	$ 15

Stockholders Equity - Share-bas

Stockholders Equity - Share-based Payment Arrangement, Option, Activity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Number of Options
Beginning balance (in shares)	22,820
Exercised (in shares)	(733)
Forfeitures and expirations (in shares)	(1,102)
Ending balance (in shares)	20,985	22,820
Weighted- Average Exercise Price
Weighted average exercise price, beginning balance (in shares)	$ 16.83
Weighted average exercise price, exercised (in shares)	10.44
Weighted average exercise price, forfeitures and expirations (in shares)	21.60
Weighted average exercise price, ending balance (in shares)	$ 16.80	$ 16.83
Weighted- Average Remaining Contractual Term (in years)	5 years 7 months 28 days	6 years 4 months 2 days
Aggregate Intrinsic Value (in thousands)
Outstanding	$ 64,814	$ 51,157
Service Based
Number of Options
Beginning balance (in shares)	15,504
Exercised (in shares)	(395)
Forfeitures and expirations (in shares)	(862)
Ending balance (in shares)	14,247	15,504
Performance Based
Number of Options
Beginning balance (in shares)	7,316
Exercised (in shares)	(338)
Forfeitures and expirations (in shares)	(239)
Ending balance (in shares)	6,738	7,316

Stockholders Equity - Share-b_2

Stockholders Equity - Share-based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity (Details) shares in Thousands	6 Months Ended
	Jun. 30, 2023 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Unvested and outstanding, beginning balance (in shares) | shares	17,346
Granted (in shares) | shares	9,849
Vested (in shares) | shares	(3,093)
Forfeited (in shares) | shares	(1,562)
Unvested and outstanding, ending balance (in shares) | shares	22,540
Weighted-Average Grant Date Fair Value
Unvested and outstanding, beginning balance (in dollars per share) | $ / shares	$ 22.95
Granted (in dollars per share) | $ / shares	17.38
Vested (in dollars per share) | $ / shares	23.03
Forfeited (in dollars per share) | $ / shares	23.23
Unvested and outstanding, ending balance (in dollars per share) | $ / shares	$ 20.46

Stockholders Equity - Share-b_3

Stockholders Equity - Share-based Payment Arrangement, Expensed and Capitalized, Amount (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Class of Stock [Line Items]
Share-based payment arrangement, expense	$ 55,208	$ 34,558	$ 105,550	$ 63,833
Cost of revenues
Class of Stock [Line Items]
Share-based payment arrangement, expense	8,944	5,242	16,310	9,817
Research and development
Class of Stock [Line Items]
Share-based payment arrangement, expense	17,080	10,022	30,332	19,421
Sales and marketing
Class of Stock [Line Items]
Share-based payment arrangement, expense	15,084	9,983	29,537	17,572
General and administrative
Class of Stock [Line Items]
Share-based payment arrangement, expense	$ 14,100	$ 9,311	$ 29,371	$ 17,023

Stockholders Equity - Summary o

Stockholders Equity - Summary of Valuation Assumptions (Details) - ESPP - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility, minimum	42.40%	34.80%	42.40%	34.80%
Expected volatility, maximum	48.50%	38.30%	48.50%	38.30%
Risk-free interest rate, minimum	5.20%	0.60%	5.20%	0.60%
Risk-free interest rate, maximum	5.10%	0.90%	5.10%	0.90%
Expected dividend yield	0%	0%	0%	0%
Fair value of common stock (in dollars per share)	$ 17.06	$ 20.05	$ 17.06	$ 20.05
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)	6 months	6 months	6 months	6 months
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)	1 year	1 year	1 year	1 year

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Income tax expense	$ 122,065	$ 6,790	$ 181,634	$ 7,975
Loss before income taxes	$ (30,401)	$ (23,716)	$ (87,186)	$ (25,717)
Effective tax rate (as a percent)	(402.00%)	(29.00%)	(208.00%)	(31.00%)

Net Loss Per Share - Schedule o

Net Loss Per Share - Schedule of Net Loss Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Earnings Per Share [Abstract]
Net loss	$ (152,466)	$ (30,506)	$ (268,820)	$ (33,692)
Weighted-average shares in computing net loss per share:
Basic (in shares)	287,109	280,417	286,004	279,599
Diluted (in shares)	287,109	280,417	286,004	279,599
Net loss per share attributable to Class A and Class B-1 common stockholders:
Basic (in dollars per share)	$ (0.53)	$ (0.11)	$ (0.94)	$ (0.12)
Diluted (in dollars per share)	$ (0.53)	$ (0.11)	$ (0.94)	$ (0.12)

Net Loss Per Share - Schedule_2

Net Loss Per Share - Schedule of Dilutive Securities (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Stock options outstanding
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Stock options outstanding (in shares)	2,520	3,519	2,648	4,625
RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Stock options outstanding (in shares)	1,188	92	949	72
PSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Stock options outstanding (in shares)	163	0	166	12
ESPP
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Stock options outstanding (in shares)	0	0	45	27

Commitment and Contingencies (D

Commitment and Contingencies (Details) $ in Millions	Jun. 30, 2023 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Purchase obligation	$ 174.9
Purchase obligation, to be paid, year one	77.1
Purchase obligation, to be paid, year two and three	$ 97.8