Informatica (INFA) 10-Q 5 Nov 24 2024 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2024	Oct. 29, 2024
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
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	2024
Document Fiscal Period Focus	Q3
Amendment Flag	false
Class A Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		261,320,807
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	Sep. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 932,573	$ 732,443
Short-term investments	307,558	259,828
Accounts receivable, net of allowances of $4,411 and $4,414, respectively	278,998	500,068
Contract assets, net	85,814	79,864
Prepaid expenses and other current assets	236,094	180,383
Total current assets	1,841,037	1,752,586
Property and equipment, net	141,406	149,266
Operating lease right-of-use-assets	53,693	57,799
Goodwill	2,366,858	2,361,643
Deferred tax assets	15,101	15,237
Other assets	164,163	178,377
Total assets	5,173,844	5,202,082
Current liabilities:
Accounts payable	11,697	18,050
Accrued liabilities	41,548	61,194
Accrued compensation and related expenses	107,435	167,427
Current operating lease liabilities	15,264	16,411
Current portion of long-term debt	18,750	18,750
Income taxes payable	919	4,305
Deferred revenue	651,444	767,244
Total current liabilities	847,057	1,053,381
Long-term operating lease liabilities	41,855	46,003
Long-term deferred revenue	11,917	19,482
Long-term debt, net	1,794,259	1,805,960
Deferred tax liabilities	21,570	22,425
Long-term income taxes payable	42,116	37,679
Other liabilities	7,374	4,554
Total liabilities	2,766,148	2,989,484
Commitments and contingencies
Stockholders’ equity:
Additional paid-in-capital	3,725,523	3,540,502
Accumulated other comprehensive loss	(12,562)	(22,370)
Accumulated deficit	(1,308,319)	(1,308,484)
Total stockholders’ equity	2,407,696	2,212,598
Total liabilities and stockholders’ equity	5,173,844	5,202,082
Customer relationships
Current assets:
Intangible assets, net	584,803	669,781
Other intangible
Current assets:
Intangible assets, net	6,783	17,393
Class A Common Stock
Stockholders’ equity:
Common stock, value, issued	2,614	2,510
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	Sep. 30, 2024	Dec. 31, 2023
Accounts receivable, allowance	$ 4,411	$ 4,414
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)	261,260,000	250,874,000
Common stock, shares, outstanding (in shares)	261,260,000	250,874,000
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		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Revenues:
Total revenues	$ 422,481	$ 408,563	$ 1,211,713	$ 1,149,982
Amortization of acquired technology	947	3,013	3,008	8,776
Total cost of revenues	81,609	83,841	246,259	251,330
Gross profit	340,872	324,722	965,454	898,652
Operating expenses:
Research and development	80,316	85,862	239,204	255,608
Sales and marketing	133,517	129,997	418,403	393,035
General and administrative	44,707	41,911	144,115	122,027
Amortization of intangible assets	29,845	34,481	93,302	103,120
Restructuring	1,554	407	6,808	28,131
Total operating expenses	289,939	292,658	901,832	901,921
Income (loss) from operations	50,933	32,064	63,622	(3,269)
Interest income	14,829	10,447	42,001	27,950
Interest expense	(36,345)	(39,327)	(113,775)	(111,844)
Other (expense) income, net	(14,011)	5,519	(6,825)	8,680
Income (loss) before income taxes	15,406	8,703	(14,977)	(78,483)
Income tax expense (benefit)	29,391	(70,573)	(15,154)	111,061
Net (loss) income	$ (13,985)	$ 79,276	$ 177	$ (189,544)
Net (loss) income per share attributable to Class A and Class B-1 common stockholders:
Basic (in dollars per share)	$ (0.05)	$ 0.27	$ 0	$ (0.66)
Diluted (in dollars per share)	$ (0.05)	$ 0.27	$ 0	$ (0.66)
Weighted-average shares used in computing net (loss) income per share:
Basic (in shares)	303,954	289,354	300,606	287,133
Diluted (in shares)	303,954	296,556	313,363	287,133
Software revenue
Revenues:
Total revenues	$ 287,934	$ 262,033	$ 804,238	$ 704,363
Cost of revenues:	48,768	39,295	142,978	113,998
Subscriptions
Revenues:
Total revenues	287,934	261,828	804,217	703,339
Cost of revenues:	48,768	39,133	142,973	113,443
Perpetual license
Revenues:
Total revenues	0	205	21	1,024
Cost of revenues:	0	162	5	555
Maintenance and professional services
Revenues:
Total revenues	134,547	146,530	407,475	445,619
Cost of revenues:	$ 31,894	$ 41,533	$ 100,273	$ 128,556

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Net (loss) income	$ (13,985)	$ 79,276	$ 177	$ (189,544)
Other comprehensive income (loss), net of taxes:
Change in foreign currency translation adjustment, net of tax (expense) benefit of $(115), $161, $123, and $250	35,389	(25,708)	10,057	(10,456)
Available-for-sale debt securities:
Change in unrealized gain (loss), net of tax (expense) benefit of $(71), $20, $(39) and $(13)	216	(60)	119	41
Less: reclassification adjustment for amounts included in net loss, net of tax benefit of $—, $36, $—, $36	0	110	0	110
Available-for-sale debt securities, net change	216	50	119	151
Cash flow hedges:
Change in unrealized (loss) gain, net of tax (expense) benefit of $95, $230, $(37), and $(375)	(290)	(702)	111	1,147
Less: reclassification adjustment for amounts included in net (loss) income, net of tax (expense) benefit of $(58), $1, $(157), and $372	(177)	6	(479)	1,139
Cash flow hedges, net change	(467)	(696)	(368)	2,286
Total other comprehensive income (loss), net of tax effect	35,138	(26,354)	9,808	(8,019)
Total comprehensive income (loss), net of tax effect	$ 21,153	$ 52,922	$ 9,985	$ (197,563)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Change in foreign currency translation adjustment, tax	$ (115)	$ 161	$ 123	$ 250
Change in unrealized (loss) gain, tax	(71)	20	(39)	(13)
Reclassification adjustment for amounts included in net loss, tax benefit	0	36	0	36
Change in unrealized gain, tax	95	230	(37)	(375)
Reclassification adjustment for amounts included in net income (loss), tax	$ (58)	$ 1	$ (157)	$ 372

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 Loss	Accumulated Deficit
Beginning Balance (in shares) at Dec. 31, 2022					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	162,058							162,058
Issuance of shares under employee stock purchase plan (in shares)					1,947,000
Issuance of shares under employee stock purchase plan	28,229				$ 19			28,210
Shares withheld related to net share settlement of equity awards (in shares)					(1,489,000)
Shares withheld related to net share settlement of equity awards	(26,252)				$ (15)			(26,237)
Issuance of shares under equity plans (in shares)					6,842,000
Issuance of shares under equity plans	19,692				$ 69			19,623
Payments for dividends related to Class B-2 shares	(12)									(12)
Net (loss) income	(189,544)									(189,544)
Other comprehensive (loss) income	(8,019)								(8,019)
Ending Balance (in shares) at Sep. 30, 2023					247,049,000	44,050,000	44,050,000
Ending Balance at Sep. 30, 2023	2,040,513				$ 2,471	$ 440	$ 0	3,466,037	(55,690)	(1,372,745)
Beginning Balance (in shares) at Jun. 30, 2023					243,948,000	44,050,000	44,050,000
Beginning Balance at Jun. 30, 2023	1,922,098				$ 2,440	$ 440	$ 0	3,400,575	(29,336)	(1,452,021)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	56,508							56,508
Issuance of shares under employee stock purchase plan (in shares)					835,000
Issuance of shares under employee stock purchase plan	12,098				$ 8			12,090
Shares withheld related to net share settlement of equity awards (in shares)					(750,000)
Shares withheld related to net share settlement of equity awards	(15,152)				$ (7)			(15,145)
Issuance of shares under equity plans (in shares)					3,016,000
Issuance of shares under equity plans	12,039				$ 30			12,009
Net (loss) income	79,276									79,276
Other comprehensive (loss) income	(26,354)								(26,354)
Ending Balance (in shares) at Sep. 30, 2023					247,049,000	44,050,000	44,050,000
Ending Balance at Sep. 30, 2023	2,040,513				$ 2,471	$ 440	$ 0	3,466,037	(55,690)	(1,372,745)
Beginning Balance (in shares) at Dec. 31, 2023		250,874,000	44,050,000	44,050,000	250,874,000	44,050,000	44,050,000
Beginning Balance at Dec. 31, 2023	2,212,598				$ 2,510	$ 440	$ 0	3,540,502	(22,370)	(1,308,484)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	195,571							195,571
Issuance of shares under employee stock purchase plan (in shares)					1,496,000
Issuance of shares under employee stock purchase plan	25,267				$ 15			25,252
Shares withheld related to net share settlement of equity awards (in shares)					(3,293,000)
Shares withheld related to net share settlement of equity awards	(98,819)				$ (33)			(98,786)
Issuance of shares under equity plans (in shares)					12,183,000
Issuance of shares under equity plans	63,106				$ 122			62,984
Payments for dividends related to Class B-2 shares	(12)									(12)
Net (loss) income	177									177
Other comprehensive (loss) income	9,808								9,808
Ending Balance (in shares) at Sep. 30, 2024		261,260,000	44,050,000	44,050,000	261,260,000	44,050,000	44,050,000
Ending Balance at Sep. 30, 2024	2,407,696				$ 2,614	$ 440	$ 0	3,725,523	(12,562)	(1,308,319)
Beginning Balance (in shares) at Jun. 30, 2024					258,810,000	44,050,000	44,050,000
Beginning Balance at Jun. 30, 2024	2,325,816				$ 2,589	$ 440	$ 0	3,664,821	(47,700)	(1,294,334)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	66,000							66,000
Issuance of shares under employee stock purchase plan (in shares)					560,000
Issuance of shares under employee stock purchase plan	11,470				$ 6			11,464
Shares withheld related to net share settlement of equity awards (in shares)					(927,000)
Shares withheld related to net share settlement of equity awards	(22,128)				$ (9)			(22,119)
Issuance of shares under equity plans (in shares)					2,817,000
Issuance of shares under equity plans	5,385				$ 28			5,357
Net (loss) income	(13,985)									(13,985)
Other comprehensive (loss) income	35,138								35,138
Ending Balance (in shares) at Sep. 30, 2024		261,260,000	44,050,000	44,050,000	261,260,000	44,050,000	44,050,000
Ending Balance at Sep. 30, 2024	$ 2,407,696				$ 2,614	$ 440	$ 0	$ 3,725,523	$ (12,562)	$ (1,308,319)

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Operating activities:
Net income (loss)	$ 177	$ (189,544)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	9,977	12,674
Non-cash operating lease costs	10,927	12,800
Stock-based compensation	195,600	162,058
Deferred income taxes	167	4,356
Amortization of intangible assets and acquired technology	96,310	111,896
Amortization of debt issuance costs	2,723	2,574
Amortization of investment discount, net of premium	(4,070)	(2,976)
Debt refinancing costs	1,366	0
Changes in operating assets and liabilities:
Accounts receivable	218,567	182,550
Prepaid expenses and other assets	8,473	25,894
Accounts payable and accrued liabilities	(95,483)	(108,067)
Income taxes payable	(57,909)	32,574
Deferred revenue	(123,833)	(81,484)
Net cash provided by operating activities	262,992	165,305
Investing activities:
Purchases of property and equipment	(2,337)	(4,919)
Purchases of investments	(393,933)	(255,073)
Maturities of investments	350,432	180,007
Sales of investments	0	39,510
Business acquisition, net of cash acquired	0	(12,476)
Other	1,878	0
Net cash used in investing activities	(43,960)	(52,951)
Financing activities:
Payment of debt	(16,035)	(14,064)
Payment of debt refinancing costs	(1,349)	0
Proceeds from issuance of debt	1,971	0
Proceeds from issuance of common stock under employee stock purchase plan	25,267	28,229
Payments for dividends related to Class B-2 shares	(12)	(12)
Payments for taxes related to net share settlement of equity awards	(98,819)	(26,252)
Proceeds from issuance of shares under equity plans	63,106	19,692
Net cash (used in) / provided by financing activities	(25,871)	7,593
Effect of foreign exchange rate changes on cash and cash equivalents	6,969	(5,719)
Net increase in cash and cash equivalents	200,130	114,228
Cash and cash equivalents at beginning of period	732,443	497,879
Cash and cash equivalents at end of period	932,573	612,107
Supplemental disclosures:
Cash paid for interest	111,892	109,089
Cash paid for income taxes, net of refunds	42,588	74,110
Non-cash investing and financing activities:
Purchases of property and equipment recorded in accounts payable and accrued liabilities	$ 370	$ 752

Organization and Description of

Organization and Description of Business	9 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Description of Business	Note 1. Organization and Description of Business Informatica Inc. (the “Company” or “Informatica”) delivers industry leading artificial intelligence (“AI”) enabled data management products on a cloud native platform that connects, manages, and unifies data across multi-vendor, multi-cloud and 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 harnessing the power of 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 Catalog, Data Integration & Engineering, API & Application Integration, Data Quality and Observability, Master Data Management, Customer and Business 360 Applications, Governance and Privacy, and Data Marketplace. 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	9 Months Ended
	Sep. 30, 2024
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 September 30, 2024 and the results of operations for the three and nine months ended September 30, 2024. The results of operations for the three and nine months ended September 30, 2024 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 (“CODM”) 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 in determination of performance obligations and standalone selling price used in revenue recognition, the realizability of deferred tax assets, uncertain tax positions and stock-based compensation. 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. Basis of Presentation and Summary of Significant Accounting Policies ” of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023, which was filed with the SEC on February 22, 2024. There have been no material changes to these policies during the three and nine months ended September 30, 2024. Recent Accounting Pronouncements Not Yet Adopted In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which requires public entities to disclose information about their reportable segments’ significant expenses and other segment items on an interim and annual basis. Public entities with a single reportable segment are required to apply the disclosure requirements in ASU 2023-07, as well as all existing segment disclosures and reconciliation requirements in ASC 280 on an interim and annual basis. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023, and for interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the impact of adopting ASU 2023-07. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which requires public entities, on an annual basis, to provide disclosure of specific categories in the rate reconciliation, as well as disclosure of income taxes paid disaggregated by jurisdiction. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the impact of adopting ASU 2023-09.

Cash, Cash Equivalents, and Inv

Cash, Cash Equivalents, and Investments	9 Months Ended
	Sep. 30, 2024
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 September 30, 2024 and December 31, 2023 (in thousands). September 30, December 31, 2024 2023 Cash $ 187,186 $ 185,498 Cash equivalents: Time deposits 151,726 72,302 Money market funds 590,682 474,643 Commercial paper 2,979 — Total cash equivalents 745,387 546,945 Total cash and cash equivalents $ 932,573 $ 732,443 Short-term investments: Time deposits 200,112 153,550 Commercial paper 44,876 73,767 Corporate debt securities 27,546 3,964 U.S. government and U.S. government agency securities 31,052 28,547 Non-U.S. government and agency securities 3,972 — Total short-term investments $ 307,558 $ 259,828 Total cash, cash equivalents and investments $ 1,240,131 $ 992,271 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	9 Months Ended
	Sep. 30, 2024
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 September 30, 2024 (in thousands). September 30, 2024 Amortized Cost Unrealized Gains Unrealized Losses Fair Value U.S. government securities $ 31,020 $ 32 $ — $ 31,052 Non-U.S. government and agency securities 3,964 8 — 3,972 Corporate debt securities 27,467 80 (1) 27,546 Commercial paper 47,747 109 (1) 47,855 Total $ 110,198 $ 229 $ (2) $ 110,425 The following table summarizes the Company’s available-for-sale debt securities as of December 31, 2023 (in thousands). December 31, 2023 Amortized Cost Unrealized Gains Unrealized Losses Fair Value U.S. government securities $ 18,596 $ 5 $ — $ 18,601 U.S. government agency securities 9,949 — (3) 9,946 Corporate debt securities 3,963 1 — 3,964 Commercial paper 73,701 76 (10) 73,767 Total $ 106,209 $ 82 $ (13) $ 106,278 There were no realized gains or losses related to available-for-sale debt securities for the three and nine months ended September 30, 2024. As of September 30, 2024, the fair value of the Company’s available-for-sale debt securities with contractual maturity of one year or less from the condensed consolidated balance sheet date was $110.4 million. As of September 30, 2024, the gross unrealized losses that have been in a continuous unrealized loss position for less than 12 months were immaterial, which were related to $8.2 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 nine months ended September 30, 2024. 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	9 Months Ended
	Sep. 30, 2024
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 September 30, 2024 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 $ 351,838 $ 351,838 $ — $ — Money market funds 590,682 590,682 — — Commercial paper 47,855 — 47,855 — Corporate debt securities 27,546 — 27,546 — U.S. government securities 31,052 — 31,052 — Non-U.S. government and agency securities 3,972 — 3,972 — Total cash equivalents and investments 1,052,945 942,520 110,425 — Foreign currency derivatives 271 — 271 — Total assets $ 1,053,216 $ 942,520 $ 110,696 $ — Liabilities: Foreign currency derivatives $ 351 $ — 351 $ — Total liabilities $ 351 $ — $ 351 $ — There were no transfers between Level 1, Level 2 and Level 3 categories during the three and nine months ended September 30, 2024. 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, 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 $ 225,852 $ 225,852 $ — $ — Money market funds 474,643 474,643 — — Commercial paper 73,767 — 73,767 — Corporate debt securities 3,964 — 3,964 — U.S. government and U.S. government agency securities 28,547 — 28,547 — Total cash equivalents and investments 806,773 700,495 106,278 — Foreign currency derivatives 486 — 486 — Total assets $ 807,259 $ 700,495 $ 106,764 $ — Liabilities: Foreign currency derivatives $ 44 $ — $ 44 $ — Total liabilities $ 44 $ — $ 44 $ —

Goodwill and Intangible Assets

Goodwill and Intangible Assets	9 Months Ended
	Sep. 30, 2024
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 nine months ended September 30, 2024 (in thousands): Amount Ending balance as of December 31, 2023 $ 2,361,643 Measurement period adjustment 234 Foreign currency translation adjustment 4,981 Ending Balance as of September 30, 2024 $ 2,366,858 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 September 30, 2024 and December 31, 2023 are as follows (in thousands): September 30, 2024 December 31, 2023 Cost Accumulated Amortization Net Cost Accumulated Amortization Net Acquired developed and core technology $ 880,876 $ (874,093) $ 6,783 $ 880,758 $ (871,085) $ 9,673 Other intangible assets: Customer relationships 2,159,824 (1,575,021) 584,803 2,159,179 (1,489,398) 669,781 Trade names and trademark 81,610 (81,610) — 81,651 (73,931) 7,720 Total other intangible assets 2,241,434 (1,656,631) 584,803 2,240,830 (1,563,329) 677,501 Total intangible assets, net $ 3,122,310 $ (2,530,724) $ 591,586 $ 3,121,588 $ (2,434,414) $ 687,174 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 $30.8 million a nd $37.5 million for the three months ended September 30, 2024 and 2023, respectively. Total amortization expense related to intangible assets was $96.3 million an d $111.9 million for the nine months ended September 30, 2024 and 2023, respectively. The allocation of the amortization of intangible assets for the periods indicated below is as follows (in thousands): Three Months Ended September 30, Nine months ended September 30, 2024 2023 2024 2023 Cost of revenues $ 947 $ 3,013 $ 3,008 $ 8,776 Operating expenses 29,845 34,481 93,302 103,120 Total amortization of intangible assets $ 30,792 $ 37,494 $ 96,310 $ 111,896 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 September 30, 2024, the amortization expense related to identifiable intangible assets in future periods is expected to be as follows (in thousands): Customer Relationships Intangible Asset Other Intangible Assets Total Intangible Assets Remaining 2024 $ 28,644 $ 900 $ 29,544 2025 100,041 2,158 102,199 2026 86,973 1,457 88,430 2027 75,461 716 76,177 2028 65,563 560 66,123 Thereafter 228,121 992 229,113 Total expected amortization expense $ 584,803 $ 6,783 $ 591,586

Borrowings

Borrowings	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
Borrowings	Note 7. Borrowings Long term debt consists of the following (in thousands): September 30, 2024 December 31, 2023 Dollar term loan $ 1,828,125 $ 1,842,188 Less: Discount on term loan (5,571) (6,441) Less: Debt issuance costs (9,545) (11,037) Total debt, net of discount and debt issuance costs 1,813,009 1,824,710 Less: Current portion of long-term debt (18,750) (18,750) Long-term debt, net of current portion $ 1,794,259 $ 1,805,960 As of September 30, 2024, the Company had an outstanding dollar term loan (the “Term Facility”) for a carrying amount of $1,813.0 million and a fair value, based on Level 2 inputs related to fair market value, of $1,829.3 million. As of December 31, 2023, the Company had an outstanding dollar term loan for a carrying amount of $1,824.7 million and a fair value, based on Level 2 inputs related to fair market value, of $1,848.3 million. 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 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. On June 11, 2024, the Company refinanced the Credit Agreement with Amendment No. 2 (the “Amendment”), with JPMorgan Chase Bank, N.A., as agent, for a syndicate of lenders. The Amendment reduced the applicable margin from 2.75% to 2.25% and eliminated the previous credit spread adjustment effective June 11, 2024. The Amendment is predominantly accounted for as a modification. The loss on any extinguished debt within the syndicate was immaterial. The Company incurred transaction fees of approximately $1.4 million during the second quarter of 2024, which were recorded as a component of Other (expense) income, net on the Condensed Consolidated Statements of Operations. Other than the foregoing, the material terms of the Credit Agreement remain unchanged. Effective June 11, 2024, the borrowings under the Term Facility bear interest, at the Company’s option, either at (i) Term SOFR 1 plus the applicable margin of 2.25% or (ii) the base rate plus 1.25%. The base rate is 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) Term SOFR Rate for a one-month interest period plus 1.00%; provided that the base rate shall not be less than 1.00% per annum. Term SOFR is subject to a “floor” of 0% per annum. The Term Facility was issued with 0.125% of original issue discount. Effective June 11, 2024, the Revolving Facility accrues interest at a per annum rate based on either, at the Company’s election, (i) Term SOFR plus the applicable margin for Term SOFR loans ranging between 2.00% and 2.50% based on the Company’s total net first lien leverage ratio or (ii) the base rate plus an applicable margin ranging between 1.00% and 1.50% based on the Company’s total net first lien leverage ratio. No amounts were outstanding under the Revolving Facility as of September 30, 2024 and December 31, 2023. There were $1.4 million and $1.6 million of utilized letters of credit under the Revolving Facility at September 30, 2024 and December 31, 2023, 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 is 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 Term SOFR 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 0.25% to 0.35% 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 September 30, 2024. 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. Future minimum principal payments Future minimum principal payments on the Term Facility as of September 30, 2024 are as follows (in thousands): Remaining 2024 4,688 2025 18,750 2026 18,750 2027 18,750 2028 1,767,187 Total $ 1,828,125

Disaggregation of Revenue, Defe

Disaggregation of Revenue, Deferred Revenue, Remaining Performance Obligations, Credit Risk and Capitalized Costs to Obtain a Contract	9 Months Ended
	Sep. 30, 2024
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue, Deferred Revenue, Remaining Performance Obligations, Credit Risk and Capitalized Costs to Obtain a Contract	Note 8. Disaggregation of Revenue, Deferred Revenue, 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 nine months ended September 30, 2024 and 2023 (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Revenues: Cloud subscription $ 175,809 $ 128,581 $ 488,669 $ 359,604 Self-managed subscription license 65,498 81,705 171,422 189,132 Self-managed subscription support and other 46,627 51,542 144,126 154,603 Subscription revenues 287,934 261,828 804,217 703,339 Perpetual license — 205 21 1,024 Software revenue 287,934 262,033 804,238 704,363 Maintenance 115,309 124,267 349,469 374,493 Professional services 19,238 22,263 58,006 71,126 Maintenance and professional services revenue 134,547 146,530 407,475 445,619 Total revenues $ 422,481 $ 408,563 $ 1,211,713 $ 1,149,982 Revenue by geographic location for the three and nine months ended September 30, 2024 and 2023 (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 North America $ 284,011 $ 278,604 $ 814,131 $ 786,230 EMEA 96,077 89,713 271,442 247,707 Asia Pacific 33,831 30,516 97,793 89,937 Latin America 8,562 9,730 28,347 26,108 Total revenues $ 422,481 $ 408,563 $ 1,211,713 $ 1,149,982 In the three months ended September 30, 2024 and 2023, the Company’s revenue from customers in the United States was $261.7 million and $263.2 million, respectively. In the nine months ended September 30, 2024 and 2023, the Company’s revenue from customers in the United States was $760.1 million and $735.5 million, respectively. No foreign country represented 10% or more of the Company’s total revenue during the three and nine months ended September 30, 2024 and 2023, respectively. Deferred Revenue As of September 30, 2024 and December 31, 2023, deferred revenue was $663.4 million and $786.7 million, respectively. The amount of revenues recognized during the three and nine months ended September 30, 2024 that were included in the opening deferred revenue balance as of January 1, 2024 was approximately $158.2 million and $678.7 million, respectively. The amount of revenues recognized during the three and nine months ended September 30, 2023 that were included in the opening deferred revenue balance as of January 1, 2023 were approximately $137.3 million and $597.1 million, respectively. Remaining Performance Obligations from Customer Contracts As of September 30, 2024, the Company’s remaining performance obligations were $1.54 billion. The Company expects to recognize approximately 66% of its remaining performance obligations at September 30, 2024 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 nine months ended September 30, 2024 and 2023. At September 30, 2024 and December 31, 2023, no customer accounted for more than 10% of the accounts receivable balance. Capitalized Costs to Obtain a Contract Capitalized costs to obtain contracts consist primarily of sales commissions and related payroll taxes (together “deferred commissions”). The changes in the capitalized costs to obtain a contract for the nine months ended September 30, 2024 were as follows (in thousands): Amount Ending balance as of December 31, 2023 $ 237,991 Additions, net 51,016 Commissions amortized (62,359) Revaluation 247 Ending balance as of September 30, 2024 $ 226,895 As of September 30, 2024, $80.2 million of deferred commissions balance was included in prepaid expenses and other current assets and $146.7 million of deferred commissions balance was included in other assets in the condensed consolidated balance sheet.

Restructuring

Restructuring	9 Months Ended
	Sep. 30, 2024
Restructuring and Related Activities [Abstract]
Restructuring	Note 9. Restructuring On January 10, 2023, the Company announced a plan to reduce its workforce by approximately 450 employees, representing approximately 7% of the Company’s then-current global workforce, and a closure of an office in Israel (the “January Plan”). The January Plan was intended to better align the Company’s global workforce and cost base with its cloud-only, consumption-driven (“CoCd”) strategy and related business needs. As of December 31, 2023, the Company recorded $28.2 million of restructuring expenses in relation to the January Plan, including $1.1 million related to the right-of-use assets impairment charge for the office closure. These costs were paid as of December 31, 2023. On November 1, 2023, the Company announced a plan to reduce its workforce by approximately 500 employees, representing approximately 10% of the Company’s then-current global workforce, and reduce its global real estate footprint (the “November Plan”). The November Plan was intended to further streamline the Company’s cost structure as a direct result of the CoCd strategy announced in January 2023. For the year-ended December 31, 2023, the Company recorded $31.6 million of restructuring expenses in relation to the November Plan, including $0.4 million related to the right-of-use assets impairment charge for the reduction in office space. For the nine months ended September 30, 2024, the Company recorded $6.8 million of restructuring expenses in relation to the November Plan, including $1.0 million related to the right-of-use assets impairment charge for the reduction in office space. Of the total charges incurred under the November Plan, $34.1 million was paid as of September 30, 2024 and the Company expects to substantially pay the remaining amount in 2024.

Derivative Financial Instrument

Derivative Financial Instruments	9 Months Ended
	Sep. 30, 2024
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 fluctuations 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 September 30, 2024, a net unrealized loss of $0.1 million a cc umulated in other comprehensive income (loss) is expected to be reclassified into earnings within approximately the next twelve months. The Company has forecasted the amount of its anticipated foreign currency expenses based on its historical performance and projected financial plan . As of September 30, 2024, the remaining open foreign exchange contracts, carried at fair value, are hedging Indian rupee expenses and have a maturity of approximately 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 (expense) 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 $100.9 million and $109.6 million of Indian rupe es as of September 30, 2024 and December 31, 2023, respectively. 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 (expense) 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 $12.5 million and $12.2 million of Indian rupees at September 30, 2024 and December 31, 2023, respectively. There were no open foreign currency contracts to sell at September 30, 2024 and December 31, 2023, respectively. The following table reflects the fair value amounts for designated and non-designated hedging instruments at September 30, 2024 and December 31, 2023 (in thousands): September 30, 2024 December 31, 2023 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 $ 159 $ 351 $ 340 $ 44 Non-designated hedging instruments Foreign currency forward contracts 112 — 146 — Total fair value of hedging instruments $ 271 $ 351 $ 486 $ 44 _____________ (i) Included in prepaid expenses and other current assets on the condensed consolidated balance sheets. (ii) Included in accrued liabilities and other 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 September 30, 2024 and December 31, 2023, 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. 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 September 30, Nine months ended September 30, 2024 2023 2024 2023 Amount of (loss) gain recognized in other comprehensive income (loss) (i) $ (385) $ (932) $ 148 $ 1,522 Amount of gain (loss) related to foreign exchange forward contracts reclassified from accumulated other comprehensive income (loss) into income (ii) $ 235 $ (7) $ 636 $ (1,511) _____________ (i) The before-tax loss of $385 re lated to foreign exchange forward contracts was recognized in other comprehensive income (loss) during the three months ended September 30, 2024. The before-tax loss of $932 related to foreign exchange forward contracts was recognized in other comprehensive income (loss) during the three months ended September 30, 2023. The before-tax gain of $148 re lated to foreign exchange forward contracts was recognized in other comprehensive income (loss) during the nine months ended September 30, 2024. The before-tax gain of $1,522 related to foreign exchange forward contracts was recognized in other comprehensive income (loss) during the nine months ended September 30, 2023. (ii) The before-tax gains of $53 and $182 were inc luded 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 September 30, 2024. The before-tax losses of $2 and $5 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 September 30, 2023 . T he before-tax gai ns of $147 and $489 we r e 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 nine months ended September 30, 2024 . The before-tax losses of $297 and $1,214 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 nine months ended September 30, 2023. The before-tax loss recognized in other (expense) income, net for non-designated foreign currency forward contracts for the periods indicated below are as follows (in thousands): Three Months Ended September 30, Nine months ended September 30, 2024 2023 2024 2023 Loss recognized in other (expense) income, net $ (42) $ (143) $ (73) $ (36) 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	9 Months Ended
	Sep. 30, 2024
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 CAD$15,000 in the aggregate. Equity Incentive Plans The Company’s equity incentive plans are administered by 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 September 30, 2024, a total of approximately 78.7 million shares of the Company’s Class A common stock has been reserved for issuance under the 2021 Plan. In addition, the shares reserved for issuance under the 2021 Plan includes any shares subject to awards granted under the 2015 Plan that, after the date the 2015 Plan was terminated, are cancelled, expire or otherwise terminate without having been exercised in full, are tendered to or withheld by the Company for payment of an exercise price or for tax withholding obligations, or are forfeited to or repurchased by the Company due to failure to vest (provided that the maximum number of shares that may be added to the 2021 Plan pursuant to this provision is 26,288,211 shares). Option Awards The following table summarizes the option award activity for the nine months ended September 30, 2024 (in thousands, except share price, fair value and term): Number of Options Weighted- Weighted- Aggregate Total Service Performance- Outstanding at December 31, 2023 17,004 11,278 5,726 $ 17.27 5.59 $ 189,134 Exercised (3,851) (3,050) (801) $ 16.40 Forfeited or expired (268) (32) (236) $ 19.16 Outstanding at September 30, 2024 12,885 8,196 4,689 $ 17.48 4.99 $ 100,602 As of September 30, 2024, total unrecognized stock-based compensation expense related to unvested options was $1.7 million and is expected to be recognized over the remaining weighted-average vesting period of 0.98 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 also issues PSUs to employees under the 2021 Plan. PSUs that are granted are subject to vesting conditions based on certain performance metrics or on attainment of specified stock prices, measured over the performance period. The PSU awards granted to employees under the 2021 Plan typically vest over 3 years and are subject to forfeiture in whole if employment terminates, or in whole or in part, if specified vesting conditions are not satisfied in each case prior to vesting. PSUs are not considered issued or outstanding common stock until they vest. The following table summarizes RSU and PSU activity and related information during the nine months ended September 30, 2024 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, 2023 21,063 $ 20.81 Granted 4,987 31.48 Vested (8,334) 21.63 Forfeited (1,403) 21.81 Unvested and outstanding as of September 30, 2024 16,313 $ 23.57 As of September 30, 2024, the total unrecognized stock-based compensation expense related to the RSUs and PSUs outstanding was $314.9 million and is expected to be recognized over the remaining weighted-average vesting period of 1.48 years. 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 September 30, 2024, a total of 14.0 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 September 30, 2024, the total unrecognized stock-based compensation expense related to the ESPP was $9.8 million and is expected to be recognized over the remaining offering period. Summary of Assumptions for ESPP The following table summarizes the weighted-average assumptions used in estimating the fair value of the ESPP for the offering periods during the nine months ended September 30, 2024 and 2023 using the Black-Scholes pricing model: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 ESPP: Expected term (in years) 0.5 - 1.0 0.5 - 1.0 0.5 - 1.0 0.5 - 1.0 Expected volatility 32.5% - 38.5% 36.2% - 39.4% 32.5% - 43.5% 36.2% - 48.5% Risk-free interest rate 4.4% - 4.8% 5.4% - 5.5% 4.4% - 5.3% 5.1% - 5.5% Expected dividend yield — % — % —% —% Fair value of common stock $24.41 $21.14 $24.41 - $32.46 $17.06 - $21.14 Stock Compensation The stock-based compensation for all equity awards for the periods indicated below are as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Cost of revenues $ 8,946 $ 8,764 $ 26,422 $ 25,074 Research and development 18,390 16,671 52,883 47,003 Sales and marketing 20,694 16,317 60,657 45,854 General and administrative 17,970 14,756 55,638 44,127 Total stock-based compensation $ 66,000 $ 56,508 $ 195,600 $ 162,058

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2024
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 income or loss from recurring operations and adjusting for discrete tax items arising in that quarter. The Company's income tax expense was $29.4 million on pretax income of $15.4 million for the three months ended September 30, 2024 and income tax benefit of $15.2 million on pretax losses of $15.0 million for the nine months ended September 30, 2024, which resulted in an effective tax rate of 191% and 101%, respectively. The Company’s estimated annual 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 benefit was $70.6 million on pretax income of $8.7 million for the three months ended September 30, 2023 and income tax expense of $111.1 million on pretax losses of $78.5 million for the nine months ended September 30, 2023, which resulted in a negative effective tax rate of 811% and 142%, respectively. The Company’s effective tax rate differs from the U.S. statutory rate of 21% primarily due to seasonality of the pretax losses incurred during the year, an increase in its valuation allowance, foreign income inclusion under global intangible low-taxed income, and non-deductible 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 September 30, 2024, the Company considered all available evidence both positive and negative, including potential for prudent and feasible tax planning strategies. As a result of this analysis for the nine months ended September 30, 2024, management believes it is more likely than not that the Company’s deferred tax assets, after recorded valuation allowances for partial U.S. Federal and State deferred tax assets, and operating loss carryforwards in certain non-U.S. jurisdictions, will be realized.

Net (Loss) Income Per Share

Net (Loss) Income Per Share	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Net (Loss) Income Per Share	Note 13. Net (Loss) Income Per Share The following table sets forth the computation of basic and diluted net (loss) income per share (in thousands, except per share data): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Net (loss) income $ (13,985) $ 79,276 $ 177 $ (189,544) Weighted-average shares used in computing net (loss) income per share: Basic 303,954 289,354 300,606 287,133 Effect of dilutive securities — 7,202 12,757 — Diluted 303,954 296,556 313,363 287,133 Net (loss) income per share attributable to Class A and Class B-1 common stockholders: Basic $ (0.05) $ 0.27 $ — $ (0.66) Diluted $ (0.05) $ 0.27 $ — $ (0.66) The following potentially dilutive securities were excluded from the computation of diluted net (loss) income per share calculations for the periods presented because the impact of including them would have been anti-dilutive (in thousands): Three months ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Stock options outstanding 3,698 1,049 29 2,850 RSUs 3,446 1,886 171 1,786 PSUs 1,469 — — 214 ESPP 52 10 54 89

Commitment and Contingencies

Commitment and Contingencies	9 Months Ended
	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 14. Commitments and Contingencies Long-Term Purchase Obligations As of September 30, 2024, the Company had long-term purchase obligations of approximately $208.5 million, primarily related to multi-year contracts with third party vendors for cloud services related to its subscription services and software as a service commitments. The expected payments under these commitments total approximately $113.1 million and $95.4 million over the next 1 year and 1-3 years, respectively. Warranties The Company generally provides 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 product 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 September 30, 2024 and December 31, 2023. 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.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2024
Subsequent Events [Abstract]
Subsequent Events	Note 15. Subsequent Events Cross-Currency Swap Contracts On October 10, 2024, the Company entered into cross-currency swap contracts designated as net investment hedges used to hedge a portion of the Company’s net investment in its European operations. The notional amounts of these cross-currency swap contracts in U.S. dollar equivalents were to sell $328 million of USD for €300 million of Euro. The Company designated the cross-currency swap as a net investment hedge, where changes in the fair value of the effective portion of the swap are to be recorded to other comprehensive income. Share Repurchase Authorization On October 29, 2024, the Company's Board of Directors (the “Board”) approved a new share repurchase authorization which enables the company to repurchase up to $400 million of its Class A common stock through privately-negotiated purchases with individual holders or in the open market. This new authorization replaces the prior $200 million repurchase authorization. No repurchases have been made under the existing authorization. A committee of the Board will determine the timing, amount and terms of any repurchase.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net (loss) income	$ (13,985)	$ 79,276	$ 177	$ (189,544)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Basis of Presentation and Sum_2

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2024
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 September 30, 2024 and the results of operations for the three and nine months ended September 30, 2024. The results of operations for the three and nine months ended September 30, 2024 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 (“CODM”) 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 in determination of performance obligations and standalone selling price used in revenue recognition, the realizability of deferred tax assets, uncertain tax positions and stock-based compensation. 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.
Recent Accounting Pronouncements Not Yet Adopted	In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which requires public entities to disclose information about their reportable segments’ significant expenses and other segment items on an interim and annual basis. Public entities with a single reportable segment are required to apply the disclosure requirements in ASU 2023-07, as well as all existing segment disclosures and reconciliation requirements in ASC 280 on an interim and annual basis. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023, and for interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the impact of adopting ASU 2023-07. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which requires public entities, on an annual basis, to provide disclosure of specific categories in the rate reconciliation, as well as disclosure of income taxes paid disaggregated by jurisdiction. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the impact of adopting ASU 2023-09.
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 September 30, 2024 and December 31, 2023, 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.
Commitments and Contingencies	Warranties The Company generally provides 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 product 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 September 30, 2024 and December 31, 2023. 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)	9 Months Ended
	Sep. 30, 2024
Cash and Cash Equivalents [Abstract]
Schedule of Cash, Cash Equivalents and Investments	The following table summarizes the Company’s cash, cash equivalents and investments as of September 30, 2024 and December 31, 2023 (in thousands). September 30, December 31, 2024 2023 Cash $ 187,186 $ 185,498 Cash equivalents: Time deposits 151,726 72,302 Money market funds 590,682 474,643 Commercial paper 2,979 — Total cash equivalents 745,387 546,945 Total cash and cash equivalents $ 932,573 $ 732,443 Short-term investments: Time deposits 200,112 153,550 Commercial paper 44,876 73,767 Corporate debt securities 27,546 3,964 U.S. government and U.S. government agency securities 31,052 28,547 Non-U.S. government and agency securities 3,972 — Total short-term investments $ 307,558 $ 259,828 Total cash, cash equivalents and investments $ 1,240,131 $ 992,271

Available-For-Sale Debt Secur_2

Available-For-Sale Debt Securities (Tables)	9 Months Ended
	Sep. 30, 2024
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 September 30, 2024 (in thousands). September 30, 2024 Amortized Cost Unrealized Gains Unrealized Losses Fair Value U.S. government securities $ 31,020 $ 32 $ — $ 31,052 Non-U.S. government and agency securities 3,964 8 — 3,972 Corporate debt securities 27,467 80 (1) 27,546 Commercial paper 47,747 109 (1) 47,855 Total $ 110,198 $ 229 $ (2) $ 110,425 The following table summarizes the Company’s available-for-sale debt securities as of December 31, 2023 (in thousands). December 31, 2023 Amortized Cost Unrealized Gains Unrealized Losses Fair Value U.S. government securities $ 18,596 $ 5 $ — $ 18,601 U.S. government agency securities 9,949 — (3) 9,946 Corporate debt securities 3,963 1 — 3,964 Commercial paper 73,701 76 (10) 73,767 Total $ 106,209 $ 82 $ (13) $ 106,278

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2024
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 September 30, 2024 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 $ 351,838 $ 351,838 $ — $ — Money market funds 590,682 590,682 — — Commercial paper 47,855 — 47,855 — Corporate debt securities 27,546 — 27,546 — U.S. government securities 31,052 — 31,052 — Non-U.S. government and agency securities 3,972 — 3,972 — Total cash equivalents and investments 1,052,945 942,520 110,425 — Foreign currency derivatives 271 — 271 — Total assets $ 1,053,216 $ 942,520 $ 110,696 $ — Liabilities: Foreign currency derivatives $ 351 $ — 351 $ — Total liabilities $ 351 $ — $ 351 $ — There were no transfers between Level 1, Level 2 and Level 3 categories during the three and nine months ended September 30, 2024. 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, 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 $ 225,852 $ 225,852 $ — $ — Money market funds 474,643 474,643 — — Commercial paper 73,767 — 73,767 — Corporate debt securities 3,964 — 3,964 — U.S. government and U.S. government agency securities 28,547 — 28,547 — Total cash equivalents and investments 806,773 700,495 106,278 — Foreign currency derivatives 486 — 486 — Total assets $ 807,259 $ 700,495 $ 106,764 $ — Liabilities: Foreign currency derivatives $ 44 $ — $ 44 $ — Total liabilities $ 44 $ — $ 44 $ —

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The following table presents the changes in the carrying amount of the goodwill for the nine months ended September 30, 2024 (in thousands): Amount Ending balance as of December 31, 2023 $ 2,361,643 Measurement period adjustment 234 Foreign currency translation adjustment 4,981 Ending Balance as of September 30, 2024 $ 2,366,858
Schedule of Finite-Lived Intangible Assets	The carrying amounts of the intangible assets other than goodwill as of September 30, 2024 and December 31, 2023 are as follows (in thousands): September 30, 2024 December 31, 2023 Cost Accumulated Amortization Net Cost Accumulated Amortization Net Acquired developed and core technology $ 880,876 $ (874,093) $ 6,783 $ 880,758 $ (871,085) $ 9,673 Other intangible assets: Customer relationships 2,159,824 (1,575,021) 584,803 2,159,179 (1,489,398) 669,781 Trade names and trademark 81,610 (81,610) — 81,651 (73,931) 7,720 Total other intangible assets 2,241,434 (1,656,631) 584,803 2,240,830 (1,563,329) 677,501 Total intangible assets, net $ 3,122,310 $ (2,530,724) $ 591,586 $ 3,121,588 $ (2,434,414) $ 687,174
Schedule of Indefinite-Lived Intangible Assets	The carrying amounts of the intangible assets other than goodwill as of September 30, 2024 and December 31, 2023 are as follows (in thousands): September 30, 2024 December 31, 2023 Cost Accumulated Amortization Net Cost Accumulated Amortization Net Acquired developed and core technology $ 880,876 $ (874,093) $ 6,783 $ 880,758 $ (871,085) $ 9,673 Other intangible assets: Customer relationships 2,159,824 (1,575,021) 584,803 2,159,179 (1,489,398) 669,781 Trade names and trademark 81,610 (81,610) — 81,651 (73,931) 7,720 Total other intangible assets 2,241,434 (1,656,631) 584,803 2,240,830 (1,563,329) 677,501 Total intangible assets, net $ 3,122,310 $ (2,530,724) $ 591,586 $ 3,121,588 $ (2,434,414) $ 687,174
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 September 30, Nine months ended September 30, 2024 2023 2024 2023 Cost of revenues $ 947 $ 3,013 $ 3,008 $ 8,776 Operating expenses 29,845 34,481 93,302 103,120 Total amortization of intangible assets $ 30,792 $ 37,494 $ 96,310 $ 111,896
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	As of September 30, 2024, the amortization expense related to identifiable intangible assets in future periods is expected to be as follows (in thousands): Customer Relationships Intangible Asset Other Intangible Assets Total Intangible Assets Remaining 2024 $ 28,644 $ 900 $ 29,544 2025 100,041 2,158 102,199 2026 86,973 1,457 88,430 2027 75,461 716 76,177 2028 65,563 560 66,123 Thereafter 228,121 992 229,113 Total expected amortization expense $ 584,803 $ 6,783 $ 591,586

Borrowings (Tables)

Borrowings (Tables)	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
Schedule of Debt	Long term debt consists of the following (in thousands): September 30, 2024 December 31, 2023 Dollar term loan $ 1,828,125 $ 1,842,188 Less: Discount on term loan (5,571) (6,441) Less: Debt issuance costs (9,545) (11,037) Total debt, net of discount and debt issuance costs 1,813,009 1,824,710 Less: Current portion of long-term debt (18,750) (18,750) Long-term debt, net of current portion $ 1,794,259 $ 1,805,960
Schedule of Maturities of Long-term Debt	Future minimum principal payments on the Term Facility as of September 30, 2024 are as follows (in thousands): Remaining 2024 4,688 2025 18,750 2026 18,750 2027 18,750 2028 1,767,187 Total $ 1,828,125

Disaggregation of Revenue, De_2

Disaggregation of Revenue, Deferred Revenue, Remaining Performance Obligations, Credit Risk and Capitalized Costs to Obtain a Contract (Tables)	9 Months Ended
	Sep. 30, 2024
Revenue from Contract with Customer [Abstract]
Schedule of 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 nine months ended September 30, 2024 and 2023 (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Revenues: Cloud subscription $ 175,809 $ 128,581 $ 488,669 $ 359,604 Self-managed subscription license 65,498 81,705 171,422 189,132 Self-managed subscription support and other 46,627 51,542 144,126 154,603 Subscription revenues 287,934 261,828 804,217 703,339 Perpetual license — 205 21 1,024 Software revenue 287,934 262,033 804,238 704,363 Maintenance 115,309 124,267 349,469 374,493 Professional services 19,238 22,263 58,006 71,126 Maintenance and professional services revenue 134,547 146,530 407,475 445,619 Total revenues $ 422,481 $ 408,563 $ 1,211,713 $ 1,149,982 Revenue by geographic location for the three and nine months ended September 30, 2024 and 2023 (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 North America $ 284,011 $ 278,604 $ 814,131 $ 786,230 EMEA 96,077 89,713 271,442 247,707 Asia Pacific 33,831 30,516 97,793 89,937 Latin America 8,562 9,730 28,347 26,108 Total revenues $ 422,481 $ 408,563 $ 1,211,713 $ 1,149,982
Schedule of Capitalized Contract Cost	The changes in the capitalized costs to obtain a contract for the nine months ended September 30, 2024 were as follows (in thousands): Amount Ending balance as of December 31, 2023 $ 237,991 Additions, net 51,016 Commissions amortized (62,359) Revaluation 247 Ending balance as of September 30, 2024 $ 226,895

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2024
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 September 30, 2024 and December 31, 2023 (in thousands): September 30, 2024 December 31, 2023 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 $ 159 $ 351 $ 340 $ 44 Non-designated hedging instruments Foreign currency forward contracts 112 — 146 — Total fair value of hedging instruments $ 271 $ 351 $ 486 $ 44 _____________ (i) Included in prepaid expenses and other current assets on the condensed consolidated balance sheets. (ii) Included in accrued liabilities and other 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 September 30, Nine months ended September 30, 2024 2023 2024 2023 Amount of (loss) gain recognized in other comprehensive income (loss) (i) $ (385) $ (932) $ 148 $ 1,522 Amount of gain (loss) related to foreign exchange forward contracts reclassified from accumulated other comprehensive income (loss) into income (ii) $ 235 $ (7) $ 636 $ (1,511) _____________ (i) The before-tax loss of $385 re lated to foreign exchange forward contracts was recognized in other comprehensive income (loss) during the three months ended September 30, 2024. The before-tax loss of $932 related to foreign exchange forward contracts was recognized in other comprehensive income (loss) during the three months ended September 30, 2023. The before-tax gain of $148 re lated to foreign exchange forward contracts was recognized in other comprehensive income (loss) during the nine months ended September 30, 2024. The before-tax gain of $1,522 related to foreign exchange forward contracts was recognized in other comprehensive income (loss) during the nine months ended September 30, 2023. (ii) The before-tax gains of $53 and $182 were inc luded 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 September 30, 2024. The before-tax losses of $2 and $5 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 September 30, 2023 . T he before-tax gai ns of $147 and $489 we r e 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 nine months ended September 30, 2024 . The before-tax losses of $297 and $1,214 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 nine months ended September 30, 2023.
Schedule of Derivative Instruments, Gain (Loss)	The before-tax loss recognized in other (expense) income, net for non-designated foreign currency forward contracts for the periods indicated below are as follows (in thousands): Three Months Ended September 30, Nine months ended September 30, 2024 2023 2024 2023 Loss recognized in other (expense) income, net $ (42) $ (143) $ (73) $ (36)

Stockholders Equity (Tables)

Stockholders Equity (Tables)	9 Months Ended
	Sep. 30, 2024
Equity [Abstract]
Schedule of Share-based Payment Arrangement, Option, Activity	The following table summarizes the option award activity for the nine months ended September 30, 2024 (in thousands, except share price, fair value and term): Number of Options Weighted- Weighted- Aggregate Total Service Performance- Outstanding at December 31, 2023 17,004 11,278 5,726 $ 17.27 5.59 $ 189,134 Exercised (3,851) (3,050) (801) $ 16.40 Forfeited or expired (268) (32) (236) $ 19.16 Outstanding at September 30, 2024 12,885 8,196 4,689 $ 17.48 4.99 $ 100,602
Schedule of Share-based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity	The following table summarizes RSU and PSU activity and related information during the nine months ended September 30, 2024 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, 2023 21,063 $ 20.81 Granted 4,987 31.48 Vested (8,334) 21.63 Forfeited (1,403) 21.81 Unvested and outstanding as of September 30, 2024 16,313 $ 23.57
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 for the offering periods during the nine months ended September 30, 2024 and 2023 using the Black-Scholes pricing model: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 ESPP: Expected term (in years) 0.5 - 1.0 0.5 - 1.0 0.5 - 1.0 0.5 - 1.0 Expected volatility 32.5% - 38.5% 36.2% - 39.4% 32.5% - 43.5% 36.2% - 48.5% Risk-free interest rate 4.4% - 4.8% 5.4% - 5.5% 4.4% - 5.3% 5.1% - 5.5% Expected dividend yield — % — % —% —% Fair value of common stock $24.41 $21.14 $24.41 - $32.46 $17.06 - $21.14
Schedule of Share-based Payment Arrangement, Expensed and Capitalized, Amount	The stock-based compensation for all equity awards for the periods indicated below are as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Cost of revenues $ 8,946 $ 8,764 $ 26,422 $ 25,074 Research and development 18,390 16,671 52,883 47,003 Sales and marketing 20,694 16,317 60,657 45,854 General and administrative 17,970 14,756 55,638 44,127 Total stock-based compensation $ 66,000 $ 56,508 $ 195,600 $ 162,058

Net (Loss) Income Per Share (Ta

Net (Loss) Income Per Share (Tables)	9 Months Ended
	Sep. 30, 2024
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) income per share (in thousands, except per share data): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Net (loss) income $ (13,985) $ 79,276 $ 177 $ (189,544) Weighted-average shares used in computing net (loss) income per share: Basic 303,954 289,354 300,606 287,133 Effect of dilutive securities — 7,202 12,757 — Diluted 303,954 296,556 313,363 287,133 Net (loss) income per share attributable to Class A and Class B-1 common stockholders: Basic $ (0.05) $ 0.27 $ — $ (0.66) Diluted $ (0.05) $ 0.27 $ — $ (0.66)
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) income per share calculations for the periods presented because the impact of including them would have been anti-dilutive (in thousands): Three months ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Stock options outstanding 3,698 1,049 29 2,850 RSUs 3,446 1,886 171 1,786 PSUs 1,469 — — 214 ESPP 52 10 54 89

Basis of Presentation and Sum_3

Basis of Presentation and Summary of Significant Accounting Policies (Details)	9 Months Ended
	Sep. 30, 2024 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 (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Cash and Cash Equivalents [Line Items]
Cash	$ 187,186	$ 185,498
Cash equivalents:
Time deposits	151,726	72,302
Money market funds	590,682	474,643
Commercial paper	2,979	0
Total cash equivalents	745,387	546,945
Total cash and cash equivalents	932,573	732,443
Short-term investments:
Total short-term investments	307,558	259,828
Total cash, cash equivalents and investments	1,240,131	992,271
Time deposits
Short-term investments:
Total short-term investments	200,112	153,550
Commercial paper
Short-term investments:
Total short-term investments	44,876	73,767
Corporate debt securities
Short-term investments:
Total short-term investments	27,546	3,964
U.S. government and U.S. government agency securities
Short-term investments:
Total short-term investments	31,052	28,547
Non-U.S. government and agency securities
Short-term investments:
Total short-term investments	$ 3,972	$ 0

Available-For-Sale Debt Secur_3

Available-For-Sale Debt Securities - Schedule of Debt Securities, Available-for-Sale (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Debt Securities, Available-for-Sale [Line Items]
Amortized Cost	$ 110,198	$ 106,209
Unrealized Gains	229	82
Unrealized Losses	(2)	(13)
Fair Value	110,425	106,278
U.S. government securities
Debt Securities, Available-for-Sale [Line Items]
Amortized Cost	31,020	18,596
Unrealized Gains	32	5
Unrealized Losses	0	0
Fair Value	31,052	18,601
U.S. government agency securities
Debt Securities, Available-for-Sale [Line Items]
Amortized Cost		9,949
Unrealized Gains		0
Unrealized Losses		(3)
Fair Value		9,946
Non-U.S. government and agency securities
Debt Securities, Available-for-Sale [Line Items]
Amortized Cost	3,964
Unrealized Gains	8
Unrealized Losses	0
Fair Value	3,972
Corporate debt securities
Debt Securities, Available-for-Sale [Line Items]
Amortized Cost	27,467	3,963
Unrealized Gains	80	1
Unrealized Losses	(1)	0
Fair Value	27,546	3,964
Commercial paper
Debt Securities, Available-for-Sale [Line Items]
Amortized Cost	47,747	73,701
Unrealized Gains	109	76
Unrealized Losses	(1)	(10)
Fair Value	$ 47,855	$ 73,767

Available-For-Sale Debt Secur_4

Available-For-Sale Debt Securities - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2024	Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Realized gains (losses) related to available-for-sale debt securities	$ 0	$ 0
Fair value maturity of one year or less	110,400	110,400
Unrealized losses	(2)	(2)	$ (13)
Available-for-sale debt securities in a continuous unrealized loss position for less than 12 months	8,200	8,200
Unrealized loss position for more than 12 months	0	0
Debt securities, available-for-sale, allowance for credit loss	$ 0	$ 0

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Liabilities:
Foreign currency derivatives	$ 351	$ 44
Fair Value, Recurring
Assets:
Total cash equivalents and investments	1,052,945	806,773
Total assets	1,053,216	807,259
Liabilities:
Total liabilities	351	44
Fair Value, Recurring | Foreign currency derivatives
Assets:
Foreign currency derivatives	271	486
Liabilities:
Foreign currency derivatives	351	44
Fair Value, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets:
Total cash equivalents and investments	942,520	700,495
Total assets	942,520	700,495
Liabilities:
Total liabilities	0	0
Fair Value, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Foreign currency derivatives
Assets:
Foreign currency derivatives	0	0
Liabilities:
Foreign currency derivatives	0	0
Fair Value, Recurring | Significant Other Observable Inputs (Level 2)
Assets:
Total cash equivalents and investments	110,425	106,278
Total assets	110,696	106,764
Liabilities:
Total liabilities	351	44
Fair Value, Recurring | Significant Other Observable Inputs (Level 2) | Foreign currency derivatives
Assets:
Foreign currency derivatives	271	486
Liabilities:
Foreign currency derivatives	351	44
Fair Value, Recurring | Significant Unobservable Inputs (Level 3)
Assets:
Total cash equivalents and investments	0	0
Total assets	0	0
Liabilities:
Total liabilities	0	0
Fair Value, Recurring | Significant Unobservable Inputs (Level 3) | Foreign currency derivatives
Assets:
Foreign currency derivatives	0	0
Liabilities:
Foreign currency derivatives	0	0
Time deposits | Fair Value, Recurring
Assets:
Total cash equivalents and investments	351,838	225,852
Time deposits | Fair Value, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets:
Total cash equivalents and investments	351,838	225,852
Time deposits | Fair Value, Recurring | Significant Other Observable Inputs (Level 2)
Assets:
Total cash equivalents and investments	0	0
Time deposits | Fair Value, Recurring | Significant Unobservable Inputs (Level 3)
Assets:
Total cash equivalents and investments	0	0
Money market funds | Fair Value, Recurring
Assets:
Total cash equivalents and investments	590,682	474,643
Money market funds | Fair Value, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets:
Total cash equivalents and investments	590,682	474,643
Money market funds | Fair Value, Recurring | Significant Other Observable Inputs (Level 2)
Assets:
Total cash equivalents and investments	0	0
Money market funds | Fair Value, Recurring | Significant Unobservable Inputs (Level 3)
Assets:
Total cash equivalents and investments	0	0
Commercial paper | Fair Value, Recurring
Assets:
Total cash equivalents and investments	47,855	73,767
Commercial paper | Fair Value, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets:
Total cash equivalents and investments	0	0
Commercial paper | Fair Value, Recurring | Significant Other Observable Inputs (Level 2)
Assets:
Total cash equivalents and investments	47,855	73,767
Commercial paper | Fair Value, Recurring | Significant Unobservable Inputs (Level 3)
Assets:
Total cash equivalents and investments	0	0
Corporate debt securities | Fair Value, Recurring
Assets:
Total cash equivalents and investments	27,546	3,964
Corporate debt securities | Fair Value, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets:
Total cash equivalents and investments	0	0
Corporate debt securities | Fair Value, Recurring | Significant Other Observable Inputs (Level 2)
Assets:
Total cash equivalents and investments	27,546	3,964
Corporate debt securities | Fair Value, Recurring | Significant Unobservable Inputs (Level 3)
Assets:
Total cash equivalents and investments	0	0
U.S. government securities | Fair Value, Recurring
Assets:
Total cash equivalents and investments	31,052
U.S. government securities | Fair Value, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets:
Total cash equivalents and investments	0
U.S. government securities | Fair Value, Recurring | Significant Other Observable Inputs (Level 2)
Assets:
Total cash equivalents and investments	31,052
U.S. government securities | Fair Value, Recurring | Significant Unobservable Inputs (Level 3)
Assets:
Total cash equivalents and investments	0
U.S. government and U.S. government agency securities | Fair Value, Recurring
Assets:
Total cash equivalents and investments		28,547
U.S. government and U.S. government agency securities | Fair Value, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets:
Total cash equivalents and investments		0
U.S. government and U.S. government agency securities | Fair Value, Recurring | Significant Other Observable Inputs (Level 2)
Assets:
Total cash equivalents and investments		28,547
U.S. government and U.S. government agency securities | Fair Value, Recurring | Significant Unobservable Inputs (Level 3)
Assets:
Total cash equivalents and investments		$ 0
Non-U.S. government and agency securities | Fair Value, Recurring
Assets:
Total cash equivalents and investments	3,972
Non-U.S. government and agency securities | Fair Value, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets:
Total cash equivalents and investments	0
Non-U.S. government and agency securities | Fair Value, Recurring | Significant Other Observable Inputs (Level 2)
Assets:
Total cash equivalents and investments	3,972
Non-U.S. government and agency securities | Fair Value, Recurring | Significant Unobservable Inputs (Level 3)
Assets:
Total cash equivalents and investments	$ 0

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Schedule of Goodwill (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2024 USD ($)
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 2,361,643
Measurement period adjustment	234
Foreign currency translation adjustment	4,981
Goodwill, ending balance	$ 2,366,858

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Schedule of Finite-Lived Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets, Net [Abstract]
Cost	$ 3,122,310	$ 3,121,588
Accumulated Amortization	(2,530,724)	(2,434,414)
Net	591,586	687,174
Acquired developed and core technology
Finite-Lived Intangible Assets, Net [Abstract]
Cost	880,876	880,758
Accumulated Amortization	(874,093)	(871,085)
Net	6,783	9,673
Total other intangible assets
Finite-Lived Intangible Assets, Net [Abstract]
Cost	2,241,434	2,240,830
Accumulated Amortization	(1,656,631)	(1,563,329)
Net	584,803	677,501
Customer relationships
Finite-Lived Intangible Assets, Net [Abstract]
Cost	2,159,824	2,159,179
Accumulated Amortization	(1,575,021)	(1,489,398)
Net	584,803	669,781
Trade names and trademark
Finite-Lived Intangible Assets, Net [Abstract]
Cost	81,610	81,651
Accumulated Amortization	(81,610)	(73,931)
Net	$ 0	$ 7,720

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of intangible assets and acquired technology	$ 30,792	$ 37,494	$ 96,310	$ 111,896

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		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Finite-Lived Intangible Assets [Line Items]
Total amortization of intangible assets	$ 30,792	$ 37,494	$ 96,310	$ 111,896
Cost of revenues
Finite-Lived Intangible Assets [Line Items]
Total amortization of intangible assets	947	3,013	3,008	8,776
Operating expenses
Finite-Lived Intangible Assets [Line Items]
Total amortization of intangible assets	$ 29,845	$ 34,481	$ 93,302	$ 103,120

Goodwill and Intangible Asset_6

Goodwill and Intangible Assets - Schedule of Finite-Lived Intangible Assets, Future Amortization Expense (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Remaining 2024	$ 29,544
2025	102,199
2026	88,430
2027	76,177
2028	66,123
Thereafter	229,113
Net	591,586	$ 687,174
Customer Relationships Intangible Asset
Finite-Lived Intangible Assets [Line Items]
Remaining 2024	28,644
2025	100,041
2026	86,973
2027	75,461
2028	65,563
Thereafter	228,121
Net	584,803
Other Intangible Assets
Finite-Lived Intangible Assets [Line Items]
Remaining 2024	900
2025	2,158
2026	1,457
2027	716
2028	560
Thereafter	992
Net	$ 6,783

Borrowings - Schedule of Debt (

Borrowings - Schedule of Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Dollar term loan	$ 1,828,125
Less: Discount on term loan	(5,571)	$ (6,441)
Less: Debt issuance costs	(9,545)	(11,037)
Total debt, net of discount and debt issuance costs	1,813,009	1,824,710
Less: Current portion of long-term debt	(18,750)	(18,750)
Long-term debt, net of current portion	1,794,259	1,805,960
Medium-term Notes
Debt Instrument [Line Items]
Total debt, net of discount and debt issuance costs	1,813,000	1,824,700
Dollar term loan | Medium-term Notes
Debt Instrument [Line Items]
Dollar term loan	$ 1,828,125	$ 1,842,188

Borrowings - Narrative (Details

Borrowings - Narrative (Details) - USD ($)			3 Months Ended	9 Months Ended
	Jun. 11, 2024	Jun. 10, 2024	Jun. 30, 2024	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	Oct. 29, 2021
Debt Instrument [Line Items]
Long-term debt				$ 1,813,009,000		$ 1,824,710,000
Debt refinancing costs			$ 1,400,000	1,366,000	$ 0
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				1,813,000,000		1,824,700,000
Long-term debt, fair value				$ 1,829,300,000		1,848,300,000
Debt instrument, quarterly installment, percentage of original principal amount				0.25%
Debt instrument, original issue discount percentage	0.125%
Medium-term Notes | Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1%
Medium-term Notes | Secured Overnight Financing Rate (SOFR) | 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	1.25%
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]
Long-term debt				$ 0		0
Debt instrument, face amount							$ 250,000,000
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 | Secured Overnight Financing Rate (SOFR) | Minimum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	2%
Line of Credit | Revolving Credit Facility | Secured Overnight Financing Rate (SOFR) | 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 | Letter of Credit
Debt Instrument [Line Items]
Long-term debt				$ 1,400,000		$ 1,600,000
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 | Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	2.25%	2.75%

Borrowings - Schedule of Contra

Borrowings - Schedule of Contractual Obligation, Fiscal Year Maturity (Details) $ in Thousands	Sep. 30, 2024 USD ($)
Debt Disclosure [Abstract]
Remaining 2024	$ 4,688
2025	18,750
2026	18,750
2027	18,750
2028	1,767,187
Total	$ 1,828,125

Disaggregation of Revenue, De_3

Disaggregation of Revenue, Deferred Revenue, Remaining Performance Obligations, Credit Risk and Capitalized Costs to Obtain a Contract - Schedule of Disaggregation of Revenue by Type (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Disaggregation of Revenue [Line Items]
Total revenues	$ 422,481	$ 408,563	$ 1,211,713	$ 1,149,982
Software revenue
Disaggregation of Revenue [Line Items]
Total revenues	287,934	262,033	804,238	704,363
Subscription revenues
Disaggregation of Revenue [Line Items]
Total revenues	287,934	261,828	804,217	703,339
Cloud subscription
Disaggregation of Revenue [Line Items]
Total revenues	175,809	128,581	488,669	359,604
Self-managed subscription license
Disaggregation of Revenue [Line Items]
Total revenues	65,498	81,705	171,422	189,132
Self-managed subscription support and other
Disaggregation of Revenue [Line Items]
Total revenues	46,627	51,542	144,126	154,603
Perpetual license
Disaggregation of Revenue [Line Items]
Total revenues	0	205	21	1,024
Maintenance and professional services
Disaggregation of Revenue [Line Items]
Total revenues	134,547	146,530	407,475	445,619
Maintenance
Disaggregation of Revenue [Line Items]
Total revenues	115,309	124,267	349,469	374,493
Professional services
Disaggregation of Revenue [Line Items]
Total revenues	$ 19,238	$ 22,263	$ 58,006	$ 71,126

Disaggregation of Revenue, De_4

Disaggregation of Revenue, Deferred Revenue, Remaining Performance Obligations, Credit Risk and Capitalized Costs to Obtain a Contract - Schedule of Revenue by Geographic Location (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Disaggregation of Revenue [Line Items]
Total revenues	$ 422,481	$ 408,563	$ 1,211,713	$ 1,149,982
North America
Disaggregation of Revenue [Line Items]
Total revenues	284,011	278,604	814,131	786,230
EMEA
Disaggregation of Revenue [Line Items]
Total revenues	96,077	89,713	271,442	247,707
Asia Pacific
Disaggregation of Revenue [Line Items]
Total revenues	33,831	30,516	97,793	89,937
Latin America
Disaggregation of Revenue [Line Items]
Total revenues	8,562	9,730	28,347	26,108
Untied States
Disaggregation of Revenue [Line Items]
Total revenues	$ 261,700	$ 263,200	$ 760,100	$ 735,500

Disaggregation of Revenue, De_5

Disaggregation of Revenue, Deferred Revenue, Remaining Performance Obligations, Credit Risk and Capitalized Costs to Obtain a Contract - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total revenues	$ 422,481	$ 408,563	$ 1,211,713	$ 1,149,982
Contract liabilities	663,400		663,400		$ 786,700
Contract liabilities, revenue recognized	158,200	137,300	678,700	597,100
Revenue, remaining performance obligation, amount	1,540,000		1,540,000
Deferred commissions	226,895		226,895		$ 237,991
Untied States
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total revenues	261,700	$ 263,200	760,100	$ 735,500
Prepaid Expenses and Other Current Assets
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Deferred commissions	80,200		80,200
Other Assets
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Deferred commissions	$ 146,700		$ 146,700
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, percentage	66%		66%
Revenue, remaining performance obligation, expected timing of satisfaction, period	12 months		12 months

Disaggregation of Revenue, De_6

Disaggregation of Revenue, Deferred Revenue, Remaining Performance Obligations, Credit Risk and Capitalized Costs to Obtain a Contract - Schedule of Capitalized Contract Costs (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2024 USD ($)
Capitalized Contract Costs [Roll Forward]
Beginning balance	$ 237,991
Additions, net	51,016
Commissions amortized	(62,359)
Revaluation	247
Ending balance	$ 226,895

Restructuring (Details)

Restructuring (Details) $ in Thousands			3 Months Ended		9 Months Ended		12 Months Ended
	Nov. 01, 2023 employee	Jan. 10, 2023 employee	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)
Restructuring Cost and Reserve [Line Items]
Restructuring			$ 1,554	$ 407	$ 6,808	$ 28,131
January Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, number of positions eliminated | employee		450
Restructuring and related cost, number of positions eliminated, period percent		7%
Restructuring							$ 28,200
Impairment of right-of-use assets							1,100
November Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, number of positions eliminated | employee	500
Restructuring and related cost, number of positions eliminated, period percent	10%
Restructuring					6,800		31,600
Impairment of right-of-use assets					1,000		$ 400
Payments for restructuring					$ 34,100

Derivative Financial Instrume_3

Derivative Financial Instruments - Narrative (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Derivative [Line Items]
Foreign currency cash flow hedge gain to be reclassified during next 12 months	$ (0.1)
Foreign currency forward contracts
Derivative [Line Items]
Derivative, notional amount	100.9	$ 109.6
Foreign currency derivatives | Long
Derivative [Line Items]
Derivative, notional amount	$ 12.5	$ 12.2

Derivative Financial Instrume_4

Derivative Financial Instruments - Schedule of Derivative Instruments in Statement of Financial Position, Fair Value (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Derivative [Line Items]
Derivative assets	$ 271	$ 486
Derivative liabilities	351	44
Designated hedging instruments | Foreign currency forward contracts
Derivative [Line Items]
Derivative assets	159	340
Derivative liabilities	351	44
Non-designated hedging instruments | Foreign currency forward contracts
Derivative [Line Items]
Derivative assets	112	146
Derivative liabilities	$ 0	$ 0

Derivative Financial Instrume_5

Derivative Financial Instruments - Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Cost of revenues
Derivative Instruments, Gain (Loss) [Line Items]
Gains (loss) recognized in other income, net	$ 53	$ (2)	$ 147	$ (297)
Operating expenses
Derivative Instruments, Gain (Loss) [Line Items]
Gains (loss) recognized in other income, net	182	(5)	489	(1,214)
Foreign currency forward contracts
Derivative Instruments, Gain (Loss) [Line Items]
Amount of (loss) gain recognized in other comprehensive income (loss)	(385)	(932)	148	1,522
Designated hedging instruments
Derivative Instruments, Gain (Loss) [Line Items]
Amount of (loss) gain recognized in other comprehensive income (loss)	(385)	(932)	148	1,522
Designated hedging instruments | Foreign currency forward contracts
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain (loss) related to foreign exchange forward contracts reclassified from accumulated other comprehensive income (loss) into income	$ 235	$ (7)	$ 636	$ (1,511)

Derivative Financial Instrume_6

Derivative Financial Instruments - Schedule of Derivative Instruments, Gain (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Non-designated hedging instruments | Other nonoperating income (expense)
Derivative Instruments, Gain (Loss) [Line Items]
Loss recognized in other (expense) income, net	$ (42)	$ (143)	$ (73)	$ (36)

Stockholders Equity - Narrative

Stockholders Equity - Narrative (Details) $ in Thousands, $ in Millions	9 Months Ended
	Sep. 30, 2024 CAD ($) shares	Sep. 30, 2024 USD ($) shares	Oct. 31, 2021 shares
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	78,700,000	78,700,000
Common stock, capital shares reserved for future issuance, maximum shares that may be added due to provision from previous plans (in shares) | shares			26,288,211
Service based
Class of Stock [Line Items]
Share-based payment arrangement, nonvested award, cost not yet recognized, amount		$ 1.7
Share-based payment arrangement, nonvested award, cost not yet recognized, period for recognition	11 months 23 days
RSUs | Minimum
Class of Stock [Line Items]
Award vesting period	2 years
RSUs | Maximum
Class of Stock [Line Items]
Award vesting period	4 years
PSUs
Class of Stock [Line Items]
Award vesting period	3 years
Restricted Stock Units And Performance Stock Units
Class of Stock [Line Items]
Share-based payment arrangement, nonvested award, cost not yet recognized, amount		$ 314.9
Share-based payment arrangement, nonvested award, cost not yet recognized, period for recognition	1 year 5 months 23 days
ESPP
Class of Stock [Line Items]
Common stock, capital shares reserved for future issuance (in shares) | shares	14,000,000	14,000,000
Share-based payment arrangement, nonvested award, cost not yet recognized, amount		$ 9.8
Purchase price for shares based on fair market value during offering period	85%	85%
Class B-2 Common Stock
Class of Stock [Line Items]
Common stock, nominal annual dividend	$ 15

Stockholders Equity - Schedule

Stockholders Equity - Schedule of Share-based Payment Arrangement, Option, Activity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Number of Options
Beginning balance (in shares)	17,004
Exercised (in shares)	(3,851)
Forfeitures and expirations (in shares)	(268)
Ending balance (in shares)	12,885	17,004
Weighted- Average Exercise Price
Weighted average exercise price, beginning balance (in dollars per share)	$ 17.27
Weighted average exercise price, exercised (in dollars per share)	16.40
Weighted average exercise price, forfeitures and expirations (in dollars per share)	19.16
Weighted average exercise price, ending balance (in dollars per share)	$ 17.48	$ 17.27
Weighted- Average Remaining Contractual Term (in years)	4 years 11 months 26 days	5 years 7 months 2 days
Aggregate Intrinsic Value (in thousands)
Outstanding	$ 100,602	$ 189,134
Service based
Number of Options
Beginning balance (in shares)	11,278
Exercised (in shares)	(3,050)
Forfeitures and expirations (in shares)	(32)
Ending balance (in shares)	8,196	11,278
Performance- based
Number of Options
Beginning balance (in shares)	5,726
Exercised (in shares)	(801)
Forfeitures and expirations (in shares)	(236)
Ending balance (in shares)	4,689	5,726

Stockholders Equity - Schedul_2

Stockholders Equity - Schedule of Share-based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity (Details) shares in Thousands	9 Months Ended
	Sep. 30, 2024 $ / shares shares
Number of Shares
Unvested and outstanding, beginning balance (in shares) | shares	21,063
Granted (in shares) | shares	4,987
Vested (in shares) | shares	(8,334)
Forfeited (in shares) | shares	(1,403)
Unvested and outstanding, ending balance (in shares) | shares	16,313
Weighted-Average Grant Date Fair Value
Unvested and outstanding, beginning balance (in dollars per share) | $ / shares	$ 20.81
Granted (in dollars per share) | $ / shares	31.48
Vested (in dollars per share) | $ / shares	21.63
Forfeited (in dollars per share) | $ / shares	21.81
Unvested and outstanding, ending balance (in dollars per share) | $ / shares	$ 23.57

Stockholders Equity - Schedul_3

Stockholders Equity - Schedule of Valuation Assumptions (Details) - ESPP - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility, minimum	32.50%	36.20%	32.50%	36.20%
Expected volatility, maximum	38.50%	39.40%	43.50%	48.50%
Risk-free interest rate, minimum	4.40%	5.40%	4.40%	5.10%
Risk-free interest rate, maximum	4.80%	5.50%	5.30%	5.50%
Expected dividend yield	0%	0%	0%	0%
Fair value of common stock (in dollars per share)	$ 24.41	$ 21.14	$ 24.41	$ 21.14
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)	6 months	6 months	6 months	6 months
Fair value of common stock (in dollars per share)	$ 24.41	$ 17.06	$ 24.41	$ 17.06
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)	1 year	1 year	1 year	1 year
Fair value of common stock (in dollars per share)	$ 32.46	$ 21.14	$ 32.46	$ 21.14

Stockholders Equity - Schedul_4

Stockholders Equity - Schedule of Share-based Payment Arrangement, Expensed and Capitalized, Amount (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Class of Stock [Line Items]
Total stock-based compensation	$ 66,000	$ 56,508	$ 195,600	$ 162,058
Cost of revenues
Class of Stock [Line Items]
Total stock-based compensation	8,946	8,764	26,422	25,074
Research and development
Class of Stock [Line Items]
Total stock-based compensation	18,390	16,671	52,883	47,003
Sales and marketing
Class of Stock [Line Items]
Total stock-based compensation	20,694	16,317	60,657	45,854
General and administrative
Class of Stock [Line Items]
Total stock-based compensation	$ 17,970	$ 14,756	$ 55,638	$ 44,127

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Income tax expense (benefit)	$ 29,391	$ (70,573)	$ (15,154)	$ 111,061
Pretax income (loss)	$ 15,406	$ 8,703	$ (14,977)	$ (78,483)
Effective tax rate (as a percent)	191%	(811.00%)	101%	(142.00%)

Net (Loss) Income Per Share - S

Net (Loss) Income Per Share - Schedule of Net Loss Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Earnings Per Share [Abstract]
Net (loss) income	$ (13,985)	$ 79,276	$ 177	$ (189,544)
Weighted-average shares used in computing net (loss) income per share:
Basic (in shares)	303,954	289,354	300,606	287,133
Effect of dilutive securities (in shares)	0	7,202	12,757	0
Diluted (in shares)	303,954	296,556	313,363	287,133
Net (loss) income per share attributable to Class A and Class B-1 common stockholders:
Basic (in dollars per share)	$ (0.05)	$ 0.27	$ 0	$ (0.66)
Diluted (in dollars per share)	$ (0.05)	$ 0.27	$ 0	$ (0.66)

Net (Loss) Income Per Share -_2

Net (Loss) Income Per Share - Schedule of Dilutive Securities (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Stock options outstanding
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Stock options outstanding (in shares)	3,698	1,049	29	2,850
RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Stock options outstanding (in shares)	3,446	1,886	171	1,786
PSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Stock options outstanding (in shares)	1,469	0	0	214
ESPP
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Stock options outstanding (in shares)	52	10	54	89

Commitment and Contingencies (D

Commitment and Contingencies (Details) $ in Millions	Sep. 30, 2024 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Purchase obligation	$ 208.5
Purchase obligation, to be paid, year one	113.1
Purchase obligation, to be paid, year two and three	$ 95.4

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent Event € in Millions, $ in Millions	Oct. 29, 2024 USD ($)	Oct. 28, 2024 USD ($)	Oct. 10, 2024 USD ($)	Oct. 10, 2024 EUR (€)
Subsequent Event [Line Items]
Share repurchase program, authorized amount	$ 400	$ 200
Net Investment Hedging | Cross Currency Interest Rate Contract | Designated hedging instruments
Subsequent Event [Line Items]
Derivative, notional amount			$ 328	€ 300