0000950170-24-092843 | 10-Q | XBRL Viewer

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Commitments and Contingencies - Additional Information (Detail) $ in Millions	6 Months Ended
	Jun. 30, 2024 USD ($)
Commitments and Contingencies [Line Items]
Increase in future lease commitments	$ 77.2
Lessee operating lease commitments not yet commenced	$ 4.1

Net Loss per Share (Tables)

6 Months Ended

Jun. 30, 2024

Earnings Per Share [Abstract]

Summary of Reconciliation of Denominator Used in Calculation of Basic and Diluted Net Loss Per Share

A reconciliation of the denominator used in the calculation of basic and diluted net loss per share is as follows:


	Three Months Ended June 30,						Six Months Ended June 30,
	2024			2023			2024			2023
Net loss	$	(14,435	)	$	(111,803	)	$	(8,501	)	$	(148,523	)
Weighted-average common shares outstanding — basic		51,005			49,703			50,847			49,550
Dilutive effect of share equivalents resulting from stock options, RSUs, ESPP, PSUs, and the Conversion Options		—			—			—			—
Weighted-average common shares, outstanding — diluted		51,005			49,703			50,847			49,550
Net loss per share, basic and diluted	$	(0.28	)	$	(2.25	)	$	(0.17	)	$	(3.00	)

Schedule of Potentially Dilutive Common Stock Equivalents

The following table contains all potentially dilutive common stock equivalents.


	As of June 30,
	2024		2023
	(in thousands)
Options to purchase common shares		360		493
RSUs		1,937		2,267
Conversion Option of the 2025 Notes		1,625		1,625
PSUs		34		—
ESPP		40		24

Organization and Operations

6 Months Ended

Jun. 30, 2024

Accounting Policies [Abstract]

Organization and Operations

1. Organization and Operations

HubSpot, Inc. (the “Company”) provides a customer platform that helps businesses connect and grow better. The Company delivers seamless connection for customer-facing teams with a unified platform that includes three layers: AI-powered engagement hubs, a Smart customer relationship management product (“CRM”), and a connected ecosystem supporting the customer platform with a marketplace of integrations, templates, and expert partners, a community network, and an academy of educational content.

The engagement hubs include Marketing Hub, Sales Hub, Service Hub, Operations Hub, Content Hub and Commerce Hub, as well as other tools and integrations that enable companies to attract, engage, and delight customers throughout the customer experience.

The accompanying unaudited consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) applicable to interim periods, under the rules and regulations of the United States Securities and Exchange Commission (“SEC”). In the opinion of management, the Company has prepared the accompanying unaudited consolidated financial statements on a basis substantially consistent with the audited consolidated financial statements of the Company as of and for the year ended December 31, 2023, and these consolidated financial statements include all adjustments, consisting only of normal recurring adjustments, necessary for a fair statement of the results of the interim periods presented. All intercompany balances and transactions have been eliminated in consolidation.

The results of operations for the interim periods presented are not necessarily indicative of the results to be expected for any subsequent quarter or for the entire year ending December 31, 2024. The year-end balance sheet data was derived from audited financial statements, but this Form 10-Q does not include all disclosures required under GAAP. Certain information and note disclosures normally included in annual financial statements prepared in accordance with GAAP have been omitted under the rules and regulations of the SEC.

These interim financial statements should be read in conjunction with the audited consolidated financial statements and related notes contained in the Company’s Annual Report on Form 10-K filed with the SEC on February 14, 2024. Other than the addition of the accounting policy related to derivatives as described in Note 6, there have been no changes in the Company’s significant accounting policies from those that were disclosed in the Company’s Annual Report on Form 10-K that have had a material impact on our consolidated financial statements and related notes.

Recent Accounting Pronouncements

Recent accounting standards not included below are not expected to have a material impact on our consolidated financial position and results of operations.

In November 2023, the Financial Accounting Standards Board ("FASB") issued guidance enhancing the disclosures of reportable segment information, primarily about significant segment expenses. The new standard will be effective for the Company for the annual periods beginning January 1, 2024, and for interim periods beginning January 1, 2025, with early adoption permitted. Upon adoption, the guidance should be applied retrospectively to all prior periods presented in the financial statements. The adoption of this standard only impacts disclosures and is not expected to have a material impact on the Company's consolidated financial statements.

In December 2023, the FASB issued guidance enhancing income tax disclosure requirements by requiring specified categories and greater disaggregation within the rate reconciliation table, disclosure of income taxes paid by jurisdiction, and providing clarification on uncertain tax positions and related financial statement impacts. The new standard will be effective for the Company on January 1, 2025, with early adoption permitted. The adoption of this standard only impacts disclosures and is not expected to have a material impact on the Company's consolidated financial statements.

Revision of Previously Issued Financial Statements

During the financial close process for the first quarter of 2024, the Company identified an error related to the calculation of contractual credits in one of its third-party vendor agreements which impacted the Company's previously issued financial statements beginning with the quarter ended December 31, 2021. The error impacted subsequent annual and quarterly reporting periods through December 31, 2023. The Company assessed the materiality of the error, in consideration of both quantitative and qualitative factors, and concluded that it is not material to any previously presented interim or annual financial statements. The Company revised its financial statements for the periods impacted. In connection with the revisions, the Company also corrected a previously identified immaterial error related to the recording of certain deferred tax balances.

Changes to the interim consolidated statements of operations for the three and six months ended June 30, 2023, as a result of the error, were as follows (in thousands, except per share data):


Consolidated Statements of Operations and Comprehensive Loss	For the Three Months Ended June 30, 2023
	As Previously Reported			Adjustments			As Revised
	(in thousands)
Cost of revenues - Subscription	$	73,824		$	(2,330	)	$	71,494
Total cost of revenues		87,286			(2,330	)		84,956
Gross profit		441,852			2,330			444,182
Loss from operations		(118,499	)		2,330			(116,169	)
Loss before income tax expense		(105,564	)		2,330			(103,234	)
Income tax expense		(13,382	)		4,813			(8,569	)
Net loss		(118,946	)		7,143			(111,803	)
Comprehensive loss		(119,575	)		7,143			(112,432	)
Net loss per common share, basic and diluted	$	(2.39	)	$	0.14		$	(2.25	)


	For the Six Months Ended June 30, 2023
	As Previously Reported			Adjustments			As Revised
	(in thousands)
Cost of revenues - Subscription	$	142,163		$	(4,047	)	$	138,116
Total cost of revenues		169,332			(4,047	)		165,285
Gross profit		861,426			4,047			865,473
Loss from operations		(163,264	)		4,047			(159,217	)
Loss before income tax expense		(141,583	)		4,047			(137,536	)
Income tax expense		(15,645	)		4,658			(10,987	)
Net loss		(157,228	)		8,705			(148,523	)
Comprehensive loss		(152,723	)		8,705			(144,018	)
Net loss per common share, basic and diluted	$	(3.17	)	$	0.17		$	(3.00	)

Convertible Senior Notes - Schedule of Net Carrying Amount of Liability Component (Detail) - 0.375%Convertible Senior Notes Due 2025 as Liability Component [Member] - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Principal	$ 459,071	$ 459,076
Unamortized issuance costs	(1,875)	(2,870)
Net carrying amount	$ 457,196	$ 456,206

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 30, 2024	Aug. 02, 2024
Entity Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Trading Symbol	HUBS
Entity Registrant Name	HubSpot, Inc.
Entity Central Index Key	0001404655
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false
Title of 12(b) Security	Common Stock, par value $0.001 per share
Security Exchange Name	NYSE
Entity File Number	001-36680
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	20-2632791
Entity Address, Address Line One	Two Canal Park
Entity Address, City or Town	Cambridge
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	02141
City Area Code	888
Local Phone Number	482-7768
Document Quarterly Report	true
Document Transition Report	false
Entity Common Stock, Shares Outstanding		51,348,838

Revenues - Additional Information1 (Detail)	Jun. 30, 2024
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2024-07-01
Disaggregation of Revenue [Line Items]
Revenue remaining performance obligations recognition period	24 months

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Convertible Senior Notes - Additional Information (Detail) - 0.375% Convertible Senior Notes Due 2025 [Member]	1 Months Ended	6 Months Ended
	Jun. 30, 2020 USD ($) $ / shares shares	Jun. 30, 2024 d	Aug. 02, 2024 USD ($)
Debt Instrument [Line Items]
Principal amount of long term debt			$ 0
Debt instrument, interest rate, stated percentage	0.375%
Debt instrument, maturity date		Jun. 01, 2025
Debt instrument, payment terms		The interest rate is fixed at 0.375% per annum and is payable semi-annually in arrears on June 1 and December 1 of each year.
Proceeds from issuance of notes	$ 450,100,000
Principal amount of each convertible note	$ 1,000
Debt instrument, conversion ratio	3.5396
Principal amount settlement, Description		The 2025 Notes are classified as short-term debt and the Company expects to settle the principal amount of the 2025 Notes in cash.
Debt instrument, convertible, threshold trading days \| d		20
Debt instrument, convertible, threshold consecutive trading days \| d		30
Debt instrument, conversion price per share \| $ / shares	$ 282.52
Capped Call Options [Member]
Debt Instrument [Line Items]
Cost of purchased capped call options	$ 50,600,000
Derivative, price risk option strike price \| $ / shares	$ 282.52
Derivative, cap price \| $ / shares	$ 426.44
Private Offering [Member]
Debt Instrument [Line Items]
Principal amount of long term debt	$ 400,000,000
Over-Allotment Options [Member]
Debt Instrument [Line Items]
Principal amount of long term debt	$ 60,000,000
Maximum [Member]
Debt Instrument [Line Items]
Percentage of closing price to trigger debt conversion		130.00%
Maximum [Member] \| Capped Call Options [Member]
Debt Instrument [Line Items]
Common stock shares covered under capped call transactions \| shares	1,600,000

Commitments and Contingencies - Schedule of Future Minimum Payments (Detail) $ in Thousands	Jun. 30, 2024 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Operating, Remainder of 2024	$ 28,258
Operating, 2025	56,432
Operating, 2026	51,816
Operating, 2027	46,866
Operating, 2028	34,134
Operating, Thereafter	162,489
Total	$ 379,995

Revenues - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Disaggregation of Revenue [Line Items]
Additions in deferred revenue			$ 34,800
Additional Invoicing			672,000
Total revenues	$ 637,230	$ 529,138	1,254,644	$ 1,030,758
Deferred revenue, revenue recognized	375,200		520,900
Revenue remaining performance obligation, contracts exceeds one year	867,200		$ 867,200
Revenue remaining performance obligation contract period			1 year
Revenue remaining performance obligation percentage recognized			90.00%
Short-term deferred revenue	708,113		$ 708,113		$ 672,150
Increase (decrease) in deferred commission expense	22,200		36,700
Incremental costs of deferred sales commission expense	55,100		101,700
Amortization of deferred commission expense	32,900		$ 65,000
Minimum [Member]
Disaggregation of Revenue [Line Items]
Amortization period of deferred commissions			2 years
Maximum [Member]
Disaggregation of Revenue [Line Items]
Amortization period of deferred commissions			4 years
Accrued Expenses and Other Current Liabilities [Member]
Disaggregation of Revenue [Line Items]
Short-term deferred revenue	$ 6,300		$ 6,300		$ 4,500

Business Acquisition - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Business Acquisition [Line Items]
Income tax benefit	$ 11,753	$ 8,569	$ 13,538	$ 10,987

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

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+ Details

Net Loss per Share

6 Months Ended

Jun. 30, 2024

Earnings Per Share [Abstract]

Net Loss per Share

3. Net Loss per Share

Basic net loss per share is computed by dividing net loss by the weighted average number of common shares outstanding for the period. Diluted net loss per share is computed by giving effect to all potential dilutive common stock equivalents outstanding for the period. For purposes of this calculation, options to purchase common stock, restricted stock units (“RSUs”), shares issued pursuant to the Employee Stock Purchase Plan (“ESPP”), performance restricted stock units (“PSUs”), and the Conversion Option of the 2025 Notes (the “Conversion Options”) (Note 9) are considered to be potential common stock equivalents.

A reconciliation of the denominator used in the calculation of basic and diluted net loss per share is as follows:


	Three Months Ended June 30,						Six Months Ended June 30,
	2024			2023			2024			2023
Net loss	$	(14,435	)	$	(111,803	)	$	(8,501	)	$	(148,523	)
Weighted-average common shares outstanding — basic		51,005			49,703			50,847			49,550
Dilutive effect of share equivalents resulting from stock options, RSUs, ESPP, PSUs, and the Conversion Options		—			—			—			—
Weighted-average common shares, outstanding — diluted		51,005			49,703			50,847			49,550
Net loss per share, basic and diluted	$	(0.28	)	$	(2.25	)	$	(0.17	)	$	(3.00	)

Since the Company incurred net losses for each period presented, diluted net loss per share is the same as basic net loss per share. All of the Company’s outstanding stock options, RSUs, PSUs, and shares issuable under the ESPP, as well as the Conversion Options were excluded in the calculation of diluted net loss per share as the effect would be anti-dilutive.

The Company uses the if-converted method when calculating any potential dilutive effect of the Conversion Options, which assumes conversion of outstanding convertible securities at the beginning of the reporting period or date of issuance, if the convertible security was issued during the period.

The following table contains all potentially dilutive common stock equivalents.


	As of June 30,
	2024		2023
	(in thousands)
Options to purchase common shares		360		493
RSUs		1,937		2,267
Conversion Option of the 2025 Notes		1,625		1,625
PSUs		34		—
ESPP		40		24

Stock-Based Compensation Expense - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	$ 128,994	$ 128,003	$ 240,116	$ 211,038
Restructuring Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense				1,000
Capitalized Software and PP&E [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Capitalized software development costs excluded from stock based compensation	$ 10,200	$ 9,400	$ 19,000	$ 14,000

Derivatives

6 Months Ended

Jun. 30, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivaties

6. Derivatives

Cash flow hedges

The Company enters into foreign currency forward contracts to reduce the risk of variability in future cash flow due to foreign currency exchange rate fluctuation from certain forecasted revenue transactions billed in currencies other than the U.S. Dollar. These transactions are designated as cash flow hedges. The foreign currency forward contracts have maturities 12 months or less. Hedge effectiveness is assessed at inception and at each reporting period utilizing statistical regression analysis. The derivatives are subject to master netting arrangements and are disclosed on a gross basis on the consolidated balance sheets. Unrealized foreign exchange gains or losses related to those designated cash flow hedge contracts are recorded in accumulated other comprehensive income ("AOCI") and are reclassified into revenues in the same periods when the hedged transactions are recognized in earnings. Cash flows from the settlement of these forward contracts are classified as operating activities on the consolidated statements of cash flows. As of June 30, 2024, the Company had designated cash flow hedge forward contracts with notional amounts equivalent to $27.4 million.

The following summarizes the fair value of derivative financial instruments as of June 30, 2024 and December 31, 2023:


	As of June 30, 2024		As of December 31, 2023
	(in thousands)
Accrued expenses and other current liabilities
Cash flow hedges	$	390	$	—
Total	$	390	$	—

The following table presents the activity of foreign currency forward contracts designated as hedging instruments and the impact of these derivatives on AOCI:


	Six Months Ended June 30,
	2024			2023
	(in thousands)
Beginning balance	$	—		$	—
Net losses recognized in other comprehensive income, net of tax		501			—
Net losses reclassified from AOCI to earnings		(56	)		—
Ending balance	$	445		$	—

The effect of hedges on the consolidated statements of operations was as follows:


	Three Months Ended June 30,					Six Months Ended June 30,
	2024			2023		2024			2023
	(in thousands)
Losses reclassified from AOCI related to cash flow hedges
Revenue	$	(56	)	$	—	$	(56	)	$	—

As of June 30, 2024, the Company estimates the net amount of unrealized gain (losses) before tax on the foreign currency contracts expected to be reclassified into revenue over the next 12 months is approximately $0.1 million.

Insider Trading Arrangements

3 Months Ended

Jun. 30, 2024

Trading Arrangements, by Individual

Material Terms of Trading Arrangement

The following table describes contracts, instructions or written plans for the sale or purchase of our securities adopted by our directors and certain officers in the three months ended June 30, 2024, each of which is intended to satisfy the affirmative defense conditions of Exchange Act Rule 10b5-1(c), referred to as Rule 10b5-1 trading plans.


Name	Action Taken	Nature of Trading Arrangement	Duration of Trading Arrangement	Aggregate Number of Securities
Brian Halligan (Co-Founder and Executive Chairperson)	Adoption (June 3, 2024)	Trading plan intended to satisfy the affirmative defense conditions of Exchange Act Rule 10b5-1(c)	351 days	58,565 shares

Brian Halligan [Member]

Trading Arrangements, by Individual

Name

Brian Halligan

Title

Founder and Executive Chairperson

Rule 10b5-1 Arrangement Adopted

true

Adoption Date

June 3, 2024

Arrangement Duration

351 days

Aggregate Available

58,565

Stock-Based Compensation Expense

6 Months Ended

Jun. 30, 2024

Share-Based Payment Arrangement [Abstract]

Stock-Based Compensation Expense

13. Stock-Based Compensation Expense

The following two tables show stock-based compensation expense by award type and where the stock-based compensation expense is recorded in the Company’s consolidated statements of operations:


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
	(in thousands)				(in thousands)
Options	$	1,822	$	3,133	$	4,392	$	5,839
RSUs		116,913		117,891		216,743		190,937
PSUs		6,340		2,783		11,167		6,017
Employee stock purchase plan		3,919		4,196		7,814		8,245
Total stock-based compensation expense	$	128,994	$	128,003	$	240,116	$	211,038

Effect of stock-based compensation expense on income by line item:


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
	(in thousands)				(in thousands)
Cost of revenue, subscription	$	5,444	$	3,516	$	10,404	$	6,259
Cost of revenue, professional services and other		1,128		1,459		2,215		2,546
Research and development		64,693		64,060		115,318		97,384
Sales and marketing		36,168		38,625		71,325		68,794
General and administrative		21,561		20,343		40,854		36,055
Total stock-based compensation expense	$	128,994	$	128,003	$	240,116	$	211,038

Capitalized software development costs excluded from stock-based compensation expense is $10.2 million for the three months ended June 30, 2024, $19.0 million for the six months ended June 30, 2024, $9.4 million for the three months ended June 30, 2023, and $14.0 million for the six months ended June 30, 2023. Also excluded in the six months ended June 30, 2023 is $1.0 million of stock-based compensation expense incurred in connection with the Restructuring Plan. See Note 15 for more details.

Property and Equipment, Net - Schedule of Property and Equipment, Net (Detail) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 263,835	$ 248,687
Less accumulated depreciation	(157,949)	(145,356)
Property and equipment, net	105,886	103,331
Computer Equipment and Purchased Software [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	16,396	16,395
Employee Related Computer Equipment [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	53,298	50,018
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	20,464	20,666
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	112,580	112,714
Internal Use Software [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	60,639	$ 48,894
Construction in Progress [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 458

Segment Information and Geographic Data (Tables)

6 Months Ended

Jun. 30, 2024

Segment Reporting [Abstract]

Revenues by Geographical Region

Revenues by geographical region:


	Three Months Ended June 30,						Six Months Ended June 30,
	2024			2023			2024			2023
	(in thousands)						(in thousands)
Americas	$	386,325		$	321,827		$	760,872		$	629,650
Europe		199,673			162,741			392,795			313,580
Asia Pacific		51,232			44,570			100,977			87,528
Total	$	637,230		$	529,138		$	1,254,644		$	1,030,758
Percentage of revenues generated outside of the Americas		39	%		39	%		39	%		39	%

Long Lived Assets by Geographical Region

Total long-lived assets by geographical region:


	As of June 30, 2024			As of December 31, 2023
	(in thousands)
Americas	$	226,822		$	235,141
Europe		101,818			112,176
Asia Pacific		5,652			7,085
Total long-lived assets	$	334,292		$	354,402
Percentage of long-lived assets held outside of the Americas		32	%		34	%

Leases - Schedule of Operating Sublease Income Generated under Operating Lease Agreements (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Leases [Abstract]
Operating sublease income	$ 1,679	$ 2,015	$ 3,926	$ 4,042

Unaudited Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Comprehensive Income [Abstract]
Net loss	$ (14,435)	$ (111,803)	$ (8,501)	$ (148,523)
Other comprehensive loss:
Foreign currency translation adjustment	(757)	399	(2,801)	1,026
Changes in unrealized loss on investments, net of income taxes of $0 for the three and six months ended June 30, 2024 and 2023	(640)	(1,028)	(3,403)	3,479
Changes in unrealized loss on cash flow hedges, net of income taxes of $63 for the three and six months ended June 30, 2024, and $0 for the three and six months ended June 30, 2023	(445)		(445)
Comprehensive loss	$ (16,277)	$ (112,432)	$ (15,150)	$ (144,018)

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

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+ Details

Property and Equipment, Net (Tables)

6 Months Ended

Jun. 30, 2024

Property, Plant and Equipment [Abstract]

Schedule of Property and Equipment, Net

Property and equipment consists of the following:


	June 30, 2024			December 31, 2023
	(in thousands)
Computer equipment and purchased software	$	16,396		$	16,395
Employee related computer equipment		53,298			50,018
Furniture and fixtures		20,464			20,666
Leasehold improvements		112,580			112,714
Internal-use software		60,639			48,894
Construction in progress		458			—
Total property and equipment		263,835			248,687
Less accumulated depreciation		(157,949	)		(145,356	)
Property and equipment, net	$	105,886		$	103,331

Organization and Operations - Summary Of Interim Consolidated Statements Of Operations (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total cost of revenues	$ 95,517		$ 84,956		$ 190,604	$ 165,285
Gross Profit	541,713		444,182		1,064,040	865,473
Loss from operations	(23,935)		(116,169)		(47,169)	(159,217)
Loss before income tax expense	(2,682)		(103,234)		5,037	(137,536)
Income tax expense	(11,753)		(8,569)		(13,538)	(10,987)
Net loss	(14,435)	$ 5,934	(111,803)	$ (36,720)	(8,501)	(148,523)
Comprehensive loss	$ (16,277)		$ (112,432)		$ (15,150)	$ (144,018)
Net loss per common share, basic	$ (0.28)		$ (2.25)		$ (0.17)	$ (3)
Net loss per common share, diluted	$ (0.28)		$ (2.25)		$ (0.17)	$ (3)
Subscription [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total cost of revenues	$ 81,618		$ 71,494		$ 162,342	$ 138,116
As Previously Reported [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total cost of revenues			87,286			169,332
Gross Profit			441,852			861,426
Loss from operations			(118,499)			(163,264)
Loss before income tax expense			(105,564)			(141,583)
Income tax expense			(13,382)			(15,645)
Net loss			(118,946)			(157,228)
Comprehensive loss			$ (119,575)			$ (152,723)
Net loss per common share, basic			$ (2.39)			$ (3.17)
Net loss per common share, diluted			$ (2.39)			$ (3.17)
As Previously Reported [Member] \| Subscription [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total cost of revenues			$ 73,824			$ 142,163
Adjustments [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total cost of revenues			(2,330)			(4,047)
Gross Profit			2,330			4,047
Loss from operations			2,330			4,047
Loss before income tax expense			2,330			4,047
Income tax expense			4,813			4,658
Net loss			7,143			8,705
Comprehensive loss			$ 7,143			$ 8,705
Net loss per common share, basic			$ 0.14			$ 0.17
Net loss per common share, diluted			$ 0.14			$ 0.17
Adjustments [Member] \| Subscription [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total cost of revenues			$ (2,330)			$ (4,047)

Restructuring Plan - Additional Information (Details) - USD ($)		3 Months Ended		6 Months Ended
	Jan. 25, 2023	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Restructuring Costs [Line Items]
Employee reduction percentage	7.00%
Liabilities accrued		$ 0		$ 0
Restructuring charges		$ 1,077,000	$ 63,880,000	1,859,000	$ 92,450,000
Reduction in right-of use assets				7,300,000
Increase in operating lease liabilities				$ 500,000
Severance, Employee Related Benefits And Other Costs [Member]
Restructuring Costs [Line Items]
Restructuring charges					26,900,000
Stock-Based Compensation Expense [Member]
Restructuring Costs [Line Items]
Restructuring charges					1,000,000
Facilities [Member]
Restructuring Costs [Line Items]
Restructuring charges					65,600,000
Global Office Spaces Leases [Member]
Restructuring Costs [Line Items]
Restructuring charges			$ 63,800,000
Reduction in right-of use assets					44,600,000
Increase in operating lease liabilities					$ 6,300,000

Fair Value of Financial Instruments - Summary of Contractual Maturities of Short and Long Term Investments (Detail) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Amortized Cost Basis, Due within one year	$ 939,531	$ 1,000,447
Amortized Cost Basis, Due after 1 year through 2 years	210,772	324,599
Amortized Cost	1,150,303	1,325,046
Aggregate Fair Value, Due within one year	937,830	1,000,245
Aggregate Fair Value, Due after 1 year through 2 years	209,992	325,703
Aggregate Fair Value, Total	$ 1,147,822	$ 1,325,948

- Definition

Amount of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 103
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-103

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (aa)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481830/320-10-45-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(6))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479130/326-30-45-1

+ Details

Stock-Based Compensation Expense - Effect of Stock-Based Compensation on Income by Line Item (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	$ 128,994	$ 128,003	$ 240,116	$ 211,038
Cost of Revenue, Subscription [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	5,444	3,516	10,404	6,259
Cost of Revenue, Professional Services and Other [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	1,128	1,459	2,215	2,546
Research and Development [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	64,693	64,060	115,318	97,384
Sales and Marketing [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	36,168	38,625	71,325	68,794
General and Administrative [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	$ 21,561	$ 20,343	$ 40,854	$ 36,055

Unaudited Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Operating Activities:
Net loss	$ (8,501)	$ (148,523)
Adjustments to reconcile net loss to net cash and cash equivalents provided by operating activities, net of acquisitions
Depreciation and amortization	43,438	32,999
Stock-based compensation	240,116	211,038
Restructuring charges		64,938
Gain on strategic investments	(18,456)
Impairment of strategic investments	4,094
(Benefit from) provision for deferred income taxes	(212)	4,802
Amortization of debt discount and issuance costs	1,002	980
Accretion of bond discount	(23,080)	(18,777)
Unrealized currency translation	(948)	(122)
Changes in assets and liabilities
Accounts receivable	18,422	21,626
Prepaid expenses and other assets	(27,228)	(47,445)
Deferred commission expense	(40,084)	(37,034)
Right-of-use assets	20,384	20,972
Accounts payable	(218)	(17,814)
Accrued expenses and other liabilities	15,049	46,527
Operating lease liabilities	(23,153)	(17,985)
Deferred revenue	44,291	41,431
Net cash and cash equivalents provided by operating activities	244,916	157,613
Investing Activities:
Purchases of investments	(651,717)	(731,363)
Maturities of investments	849,595	729,834
Purchases of property and equipment	(14,082)	(14,189)
Purchases of strategic investments	(3,627)	(6,000)
Capitalization of software development costs	(43,075)	(31,595)
Proceeds from net working capital settlement	1,933
Net cash and cash equivalents provided by (used) in investing activities	139,027	(53,313)
Financing Activities:
Employee taxes paid related to the net share settlement of stock-based awards	(13,484)	(4,102)
Proceeds related to the issuance of common stock under stock plans	45,244	24,550
Net cash and cash equivalents provided by financing activities	31,760	20,448
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	(5,815)	1,448
Net increase (decrease) in cash, cash equivalents and restricted cash	409,888	126,196
Cash, cash equivalents and restricted cash, beginning of period	392,040	334,175
Cash, cash equivalents and restricted cash, end of period	801,928	460,371
Supplemental cash flow disclosure:
Cash paid for income taxes	7,165	9,467
Cash paid for interest	861	861
Right-of-use assets obtained in exchange for operating lease liabilities	503	4,674
Right-of-use asset reductions related to operating lease terminations		(1,217)
Non-cash investing and financing activities:
Capital expenditures incurred but not yet paid	$ 2,008	9,628
Asset retirement obligations		$ (466)

Derivatives - Schedule of Effect of Hedges on Consolidated Statements of Operations (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Revenue	$ (56)	$ (56)

Capitalized Software Development Costs

6 Months Ended

Jun. 30, 2024

Research and Development [Abstract]

Capitalized Software Development Costs

8. Capitalized Software Development Costs

Capitalized software development costs, exclusive of those recorded within property and equipment, consisted of the following:


	June 30, 2024			December 31, 2023
	(in thousands)
Gross capitalized software development costs	$	313,489		$	257,052
Accumulated amortization		(181,463	)		(150,823	)
Capitalized software development costs, net	$	132,026		$	106,229

These capitalized software development costs are associated with software developed for the Company's customer platform. Capitalized software development costs recorded within property and equipment are associated with software developed for Company use.

Amortization of capitalized software development costs, exclusive of costs recorded within property and equipment, was $17.8 million for the three months ended June 30, 2024, $33.8 million for the six months ended June 30, 2024, $10.7 million for the three months ended June 30, 2023, and $20.5 million for the six months ended June 30, 2023.

Unaudited Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenues:
Total revenue	$ 637,230	$ 529,138	$ 1,254,644	$ 1,030,758
Cost of revenues:
Total cost of revenues	95,517	84,956	190,604	165,285
Gross profit	541,713	444,182	1,064,040	865,473
Operating expenses:
Research and development	198,180	169,955	373,817	297,639
Sales and marketing	293,794	265,294	594,081	515,971
General and administrative	72,597	61,222	141,452	118,630
Restructuring	1,077	63,880	1,859	92,450
Total operating expenses	565,648	560,351	1,111,209	1,024,690
Loss from operations	(23,935)	(116,169)	(47,169)	(159,217)
Other income (expense):
Interest income	20,370	13,542	39,097	24,013
Interest expense	(901)	(937)	(1,836)	(1,867)
Other income (expense)	1,784	330	14,945	(465)
Total other income	21,253	12,935	52,206	21,681
(Loss) income before income tax expense	(2,682)	(103,234)	5,037	(137,536)
Income tax expense	(11,753)	(8,569)	(13,538)	(10,987)
Net loss	$ (14,435)	$ (111,803)	$ (8,501)	$ (148,523)
Net loss per share, basic	$ (0.28)	$ (2.25)	$ (0.17)	$ (3)
Net loss per share, diluted	$ (0.28)	$ (2.25)	$ (0.17)	$ (3)
Weighted average common shares used in computing basic net loss per share:	51,005	49,703	50,847	49,550
Weighted average common shares used in computing diluted net loss per share:	51,005	49,703	50,847	49,550
Subscription [Member]
Revenues:
Total revenue	$ 623,763	$ 517,678	$ 1,227,559	$ 1,007,421
Cost of revenues:
Total cost of revenues	81,618	71,494	162,342	138,116
Professional Services and Other [Member]
Revenues:
Total revenue	13,467	11,460	27,085	23,337
Cost of revenues:
Total cost of revenues	$ 13,899	$ 13,462	$ 28,262	$ 27,169

Leases (Tables)

6 Months Ended

Jun. 30, 2024

Leases [Abstract]

Schedule of Lease Expense and Cash Payments related to Operating Lease Liabilities

Operating lease expense and cash payments related to operating lease liabilities for the three and six months ended June 30, 2024 and 2023 are as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
	(in thousands)				(in thousands)
Operating lease expense	$	9,860	$	9,989	$	19,740	$	22,910
Cash payments		13,555		16,705		29,425		31,127

Schedule of Operating Sublease Income Generated under Operating Lease Agreements

The Company subleases some of its unused spaces to third parties. Operating sublease income generated under all operating lease agreements for the three and six months ended June 30, 2024 and 2023 are as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
	(in thousands)				(in thousands)
Operating sublease income	$	1,679	$	2,015	$	3,926	$	4,042

Fair Value of Financial Instruments

6 Months Ended

Jun. 30, 2024

Fair Value Disclosures [Abstract]

Fair Value of Financial Instruments

4. Fair Value of Financial Instruments

The Company measures certain financial assets at fair value. Fair value is determined based upon the exit price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants, as determined by either the principal market or the most advantageous market. Inputs used in the valuation techniques to derive fair values are classified based on a three-level hierarchy, as follows:

•

Level 1 — Quoted prices in active markets for identical assets or liabilities.

•

Level 2 — Observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which all significant inputs are observable or can be derived principally from or corroborated by observable market data for substantially the full term of the assets or liabilities.

•

Level 3 — Unobservable inputs to the valuation methodology that are significant to the measurement of fair value of assets or liabilities.

The following table details the fair value measurements within the fair value hierarchy of the Company’s financial assets and liabilities at June 30, 2024 and December 31, 2023:


	June 30, 2024
	Level 1		Level 2		Level 3		Total
	(in thousands)
Cash equivalents and investments:
Money market funds	$	10,553	$	—	$	—	$	10,553
Commercial paper		—		24,099		—		24,099
Corporate bonds		—		243,346		—		243,346
U.S. Government agency securities		—		132,948		—		132,948
U.S. Treasury securities		—		1,157,787		—		1,157,787
Strategic investments		—		—		31,625		31,625
Restricted cash:
Money market funds		—		4,053		—		4,053
Total assets	$	10,553	$	1,562,233	$	31,625	$	1,604,411

Accrued expenses and other current liabilities
Foreign currency derivative liabilities	$	—	$	390	$	—	$	390
Total liabilities	$	—	$	390	$	—	$	390


	December 31, 2023
	Level 1		Level 2		Level 3		Total
	(in thousands)
Cash equivalents and investments:
Money market funds	$	20,003	$	—	$	—	$	20,003
Commercial paper		—		13,504		—		13,504
Corporate bonds		—		237,406		—		237,406
U.S. Government agency securities		—		122,758		—		122,758
U.S. Treasury securities		—		960,763		—		960,763
Strategic investments		—		—		13,159		13,159
Restricted cash:
Money market funds		—		4,053		—		4,053
Total	$	20,003	$	1,338,484	$	13,159	$	1,371,646

The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. The fair value of the Company’s investments in certain money market funds is their face value and such instruments are classified as Level 1 and are included in cash and cash equivalents on the consolidated balance sheets. At June 30, 2024 and December 31, 2023, Level 2 securities were priced by pricing vendors. These pricing vendors utilize the most recent observable market information in pricing these securities or, if specific prices are not available for these securities, use other observable inputs like market transactions involving identical or comparable securities. Certain non-marketable investments measured at fair value on a

non-recurring basis are classified as Level 3 as their fair value measurements may include a combination of observable and unobservable inputs.

Foreign currency derivative assets and liabilities are classified as Level 2 and are valued using observable inputs, such as quotations on forward and spot rates for currencies, interest rates and credit derivative market rates.

As of June 30, 2024, the fair value of the 2025 Notes was $963.9 million. The fair value was determined based on the quoted price of the 2025 Notes in an inactive market on the last trading day of the reporting period and has been classified as Level 2 within the fair value hierarchy.

For certain other financial instruments, including accounts receivable, accounts payable, and other current liabilities, the carrying amounts approximate their fair value due to the relatively short maturity of these balances.

Restricted cash is comprised of money market funds related to landlord guarantees for leased facilities. These restricted cash balances have been excluded from our cash and cash equivalents balance on our consolidated balance sheets.

Strategic investments that consist of non-controlling equity investments without readily determinable fair values in privately held companies for which the Company does not have the ability to exercise significant influence are measured under the measurement alternative method. These investments are accounted for under the cost method of accounting. Under the cost method of accounting, the non-marketable equity securities are carried at cost less any impairment, plus or minus adjustments resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer, which is recorded within the statement of operations. The Company holds $40.7 million of strategic investments without readily determinable fair values at June 30, 2024 and $41.1 million of strategic investments without readily determinable fair values at December 31, 2023. These investments are included in other assets on the consolidated balance sheets.

In the three months ended June 30, 2024, the Company adjusted the fair value of its strategic investments and recognized a gain of $2.1 million and also recorded an impairment of the carrying value of its strategic investments of $0.5 million, resulting in a net gain of $1.6 million. In six months ended June 30, 2024, the Company adjusted the fair value of its strategic investments and recognized a gain of $18.5 million and also recorded an impairment of the carrying value of its strategic investments of $4.1 million, resulting in a net gain of $14.4 million, which is reported in the consolidated statements of operations as other income.

The following tables summarize the composition of our short- and long-term investments at June 30, 2024 and December 31, 2023.


	June 30, 2024
	Amortized Cost		Unrealized Gains		Unrealized Losses			Aggregate Fair Value
	(in thousands)
Commercial paper	$	21,612	$	—	$	—		$	21,612
Corporate bonds		244,160		8		(822	)		243,346
U.S. Government agency securities		133,399		5		(456	)		132,948
U.S. Treasury securities		751,132		—		(1,216	)		749,916
Total	$	1,150,303	$	13	$	(2,494	)	$	1,147,822


	December 31, 2023
	Amortized Cost		Unrealized Gains		Unrealized Losses			Aggregate Fair Value
	(in thousands)
Commercial paper	$	11,513	$	—	$	—		$	11,513
Corporate bonds		237,662		422		(678	)		237,406
U.S. Government agency securities		122,414		520		(176	)		122,758
U.S. Treasury securities		953,457		1,087		(273	)		954,271
Total	$	1,325,046	$	2,029	$	(1,127	)	$	1,325,948

For all of our securities for which the amortized cost basis was greater than the fair value at June 30, 2024, the Company has concluded that there is no plan to sell the security nor is it more likely than not that the Company would be required to sell the security before its anticipated recovery. The Company further assesses whether the decline in fair value below amortized cost is due to credit or non-credit related factors by considering the extent to which fair value is less than amortized cost, credit ratings, the financial health of the industry and sector of the issuer, the overall risk profile of the securities, overall macroeconomic conditions, and more. As of June 30, 2024, no allowance for credit losses in investments was recorded.

Contractual Maturities

The contractual maturities of short-term and long-term investments held at June 30, 2024 and December 31, 2023 are as follows:


	June 30, 2024				December 31, 2023
	Amortized Cost Basis		Aggregate Fair Value		Amortized Cost Basis		Aggregate Fair Value
	(in thousands)				(in thousands)
Due within one year	$	939,531	$	937,830	$	1,000,447	$	1,000,245
Due after 1 year through 2 years		210,772		209,992		324,599		325,703
Total	$	1,150,303	$	1,147,822	$	1,325,046	$	1,325,948

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 107
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-107

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 6A
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E

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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 940
-SubTopic 820
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-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478119/940-820-50-1

+ Details

Property and Equipment, Net

6 Months Ended

Jun. 30, 2024

Property, Plant and Equipment [Abstract]

Property and Equipment, Net

7. Property and Equipment

Property and equipment consists of the following:


	June 30, 2024			December 31, 2023
	(in thousands)
Computer equipment and purchased software	$	16,396		$	16,395
Employee related computer equipment		53,298			50,018
Furniture and fixtures		20,464			20,666
Leasehold improvements		112,580			112,714
Internal-use software		60,639			48,894
Construction in progress		458			—
Total property and equipment		263,835			248,687
Less accumulated depreciation		(157,949	)		(145,356	)
Property and equipment, net	$	105,886		$	103,331

Depreciation and amortization expense on property and equipment was $7.0 million for the three months ended June 30, 2024, $14.1 million for the six months ended June 30, 2024, $6.7 million for the three months ended June 30, 2023, and $14.1 million for the six months ended June 30, 2023.

As part of the Restructuring Plan (defined in Note 15), the Company disposed of $0.5 million of fixed assets, net, in the three months ended June 30, 2023 and $1.3 million in the six months ended June 30, 2023. The Company also recorded accelerated depreciation expense for fixed assets in connection with the lease abandonments as part of the Restructuring Plan. See Note 15 for more information.

Restricted cash (Tables)

6 Months Ended

Jun. 30, 2024

Cash and Cash Equivalents [Abstract]

Summary of Reconciliation of Cash, Cash Equivalents and Restricted Cash

The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the consolidated balance sheets that sum to the total of the same such amounts shown in the statement of cash flows for the three months ended June 30, 2024 and 2023.


	June 30, 2024		June 30, 2023		December 31, 2023
	(in thousands)
Cash and cash equivalents	$	797,875	$	457,218	$	387,987
Restricted cash, included other assets		4,053		3,153		4,053
Total cash, cash equivalents, and restricted cash	$	801,928	$	460,371	$	392,040

Restructuring Plan

6 Months Ended

Jun. 30, 2024

Restructuring and Related Activities [Abstract]

Restructuring Plan

15. Restructuring Plan

On January 25, 2023, the Company's board of directors authorized a restructuring plan (the “Restructuring Plan”) that was designed to reduce operating costs and enable investment in key opportunities for long-term growth while driving continued profitability. The Restructuring Plan included a reduction of the Company’s workforce by approximately 7% and a global lease consolidation to create higher density across our workspaces.

The Company incurred restructuring charges of $1.1 million in the three months ended June 30, 2024 and $1.9 million in the six months ended June 30, 2024 consisting of variable facilities related costs on unused space. In the six months ended June 30, 2023, the Company terminated and abandoned various leases of office spaces globally. The Company recorded a reduction in right-of-use assets of $44.6 million and an increase in lease liabilities of $6.3 million for these leases during the period upon the lease terminations or abandonments. In the three months ended June 30, 2023, the Company incurred $63.8 million of restructuring charges in connection with these leases. In the six months ended June 30, 2023, the Company incurred $92.5 million of restructuring charges, composed of $65.6 million related to facilities and $26.9 million for severance, employee related benefits, and other costs, including $1.0 million of stock-based compensation expense. The charges are recorded to the restructuring line item within the consolidated statements of operations.

Future variable facilities related costs for vacated properties will continue to be recorded to restructuring charges. As of June 30, 2024, the Company did not have any remaining liabilities accrued related to the Restructuring Plan.

Derivatives - Summary of the Fair Value of Derivative Financial Instruments (Details) $ in Thousands	Jun. 30, 2024 USD ($)
Derivative Instruments, Gain (Loss) [Line Items]
Accrued expenses and other current liabilities	$ 390
Cash Flow Hedges [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Accrued expenses and other current liabilities	$ 390

- Definition

Fair value, after the effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes liabilities not subject to a master netting arrangement and not elected to be offset.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
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+ Details

Net Loss per Share - Summary of Reconciliation of Denominator Used in Calculation of Basic and Diluted Net Loss Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
Earnings Per Share [Abstract]
Net loss	$ (14,435)	$ 5,934	$ (111,803)	$ (36,720)	$ (8,501)	$ (148,523)
Weighted-average common shares outstanding - basic	51,005		49,703		50,847	49,550
Weighted-average common shares, outstanding — diluted	51,005		49,703		50,847	49,550
Net loss per share, basic	$ (0.28)		$ (2.25)		$ (0.17)	$ (3)
Net loss per share, diluted	$ (0.28)		$ (2.25)		$ (0.17)	$ (3)

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Changes in Accumulated Other Comprehensive Loss (Tables)

6 Months Ended

Jun. 30, 2024

Equity [Abstract]

Changes in Accumulated Other Comprehensive Loss

The following table summarizes the changes in accumulated other comprehensive loss, which is reported as a component of stockholders’ equity, for the six months ended June 30, 2024 and 2023.


	Cumulative Translation Adjustment			Unrealized Loss on Investments			Unrealized Loss on Derivate Instruments			Total
	(in thousands)
Beginning balance at January 1, 2024	$	950		$	877		$	—		$	1,827
Other comprehensive loss before reclassifications		(2,801	)		(3,403	)		(501	)		(6,705	)
Amounts reclassified from accumulated other comprehensive income, net of tax		—			—			56			56
Ending balance at June 30, 2024		(1,851	)		(2,526	)		(445	)		(4,822	)


	Cumulative Translation Adjustment			Unrealized Loss on Investments			Unrealized Loss on Derivate Instruments		Total
	(in thousands)
Beginning balance at January 1, 2023	$	(3,070	)	$	(9,820	)	$	—	$	(12,890	)
Other comprehensive gain before reclassifications		1,026			3,479			—		4,505
Amounts reclassified from accumulated other comprehensive income, net of tax		—			—			—		—
Ending balance at June 30, 2023		(2,044	)		(6,341	)		—		(8,385	)

Derivatives - Additional Information (Details) $ in Millions	Jun. 30, 2024 USD ($)
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized gain (losses) before tax on foreign currency contracts expected to be reclassified into revenue over next 12 months	$ 0.1
Cash Flow Hedges [Member] \| Forward Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Notional equivalent amount	$ 27.4

Organization and Operations (Policies)

6 Months Ended

Jun. 30, 2024

Accounting Policies [Abstract]

Recent Accounting Pronouncements

Recent accounting standards not included below are not expected to have a material impact on our consolidated financial position and results of operations.

Revision of Previously Issued Financial Statements

Changes to the interim consolidated statements of operations for the three and six months ended June 30, 2023, as a result of the error, were as follows (in thousands, except per share data):


Consolidated Statements of Operations and Comprehensive Loss	For the Three Months Ended June 30, 2023
	As Previously Reported			Adjustments			As Revised
	(in thousands)
Cost of revenues - Subscription	$	73,824		$	(2,330	)	$	71,494
Total cost of revenues		87,286			(2,330	)		84,956
Gross profit		441,852			2,330			444,182
Loss from operations		(118,499	)		2,330			(116,169	)
Loss before income tax expense		(105,564	)		2,330			(103,234	)
Income tax expense		(13,382	)		4,813			(8,569	)
Net loss		(118,946	)		7,143			(111,803	)
Comprehensive loss		(119,575	)		7,143			(112,432	)
Net loss per common share, basic and diluted	$	(2.39	)	$	0.14		$	(2.25	)


	For the Six Months Ended June 30, 2023
	As Previously Reported			Adjustments			As Revised
	(in thousands)
Cost of revenues - Subscription	$	142,163		$	(4,047	)	$	138,116
Total cost of revenues		169,332			(4,047	)		165,285
Gross profit		861,426			4,047			865,473
Loss from operations		(163,264	)		4,047			(159,217	)
Loss before income tax expense		(141,583	)		4,047			(137,536	)
Income tax expense		(15,645	)		4,658			(10,987	)
Net loss		(157,228	)		8,705			(148,523	)
Comprehensive loss		(152,723	)		8,705			(144,018	)
Net loss per common share, basic and diluted	$	(3.17	)	$	0.17		$	(3.00	)

Revenues

Disaggregation of Revenue

The Company provides disaggregation of revenue based on geographic region (Note 14) and based on the subscription versus professional services and other classification on the consolidated statements of operations as it believes these best depict how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors.

Deferred Revenue and Deferred Commission Expense

Amounts that have been invoiced are recorded in accounts receivable and deferred revenue or revenue, depending on whether the revenue recognition criteria have been met. Deferred revenue represents amounts billed for which revenue has not yet been recognized. Deferred revenue that will be recognized during the succeeding 12-month period is recorded as current deferred revenue, and the remaining portion is recorded as long-term deferred revenue. Deferred revenue during the six months ended June 30, 2024 increased by $34.8 million resulting from $672.0 million of additional invoicing and was offset by revenue recognized of $637.2 million during the same period. $375.2 million of revenue was recognized during the three months ended June 30, 2024 that was included in deferred revenue at the beginning of the period. $520.9 million of revenue was recognized during the six months ended June 30, 2024 that was included in deferred revenue at the beginning of the period. As of June 30, 2024, approximately $867.2 million of revenue is expected to be recognized from remaining performance obligations for contracts with original performance obligations that exceed one year. The Company expects to recognize revenue on approximately 90% of these remaining performance obligations over the next 24 months, with the balance recognized thereafter.

Additional contract liabilities of $6.3 million and $4.5 million were included in accrued expenses and other current liabilities on the consolidated balance sheet as of June 30, 2024 and December 31, 2023.

The incremental direct costs of obtaining a contract, which primarily consist of sales and Solutions Partner commissions paid for new subscription contracts, are deferred and amortized on a straight-line basis over a period of approximately two to four years. The two to four-year period has been determined by taking into consideration the type of product sold, the commitment term of the customer contract, the nature of the Company’s technology development life-cycle, and an estimated customer relationship period. Sales and Solutions Partner commissions for upgrade contracts are deferred and amortized on a straight-line basis over the remaining estimated customer relationship period of the related customer. Deferred commission expense that will be recorded as expense during the succeeding 12-month period is recorded as current deferred commission expense, and the remaining portion is recorded as long-term deferred commission expense.

Deferred commission expense during the three months ended June 30, 2024 increased by $22.2 million as a result of deferring incremental costs of obtaining a contract of $55.1 million and was offset by amortization of $32.9 million during the same period. Deferred commission expense during the six months ended June 30, 2024 increased by $36.7 million as a result of deferring incremental costs of obtaining a contract of $101.7 million and was offset by amortization of $65.0 million during the same period.

Equity Method Investment - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
Schedule Of Equity Method Investments [Line Items]
Net Income (Loss)	$ (14,435)	$ 5,934	$ (111,803)	$ (36,720)	$ (8,501)	$ (148,523)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Fair Value of Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2024

Fair Value Disclosures [Abstract]

Schedule of Fair Value Measurements of Financial Assets and Liabilities

The following table details the fair value measurements within the fair value hierarchy of the Company’s financial assets and liabilities at June 30, 2024 and December 31, 2023:


	June 30, 2024
	Level 1		Level 2		Level 3		Total
	(in thousands)
Cash equivalents and investments:
Money market funds	$	10,553	$	—	$	—	$	10,553
Commercial paper		—		24,099		—		24,099
Corporate bonds		—		243,346		—		243,346
U.S. Government agency securities		—		132,948		—		132,948
U.S. Treasury securities		—		1,157,787		—		1,157,787
Strategic investments		—		—		31,625		31,625
Restricted cash:
Money market funds		—		4,053		—		4,053
Total assets	$	10,553	$	1,562,233	$	31,625	$	1,604,411

Accrued expenses and other current liabilities
Foreign currency derivative liabilities	$	—	$	390	$	—	$	390
Total liabilities	$	—	$	390	$	—	$	390


	December 31, 2023
	Level 1		Level 2		Level 3		Total
	(in thousands)
Cash equivalents and investments:
Money market funds	$	20,003	$	—	$	—	$	20,003
Commercial paper		—		13,504		—		13,504
Corporate bonds		—		237,406		—		237,406
U.S. Government agency securities		—		122,758		—		122,758
U.S. Treasury securities		—		960,763		—		960,763
Strategic investments		—		—		13,159		13,159
Restricted cash:
Money market funds		—		4,053		—		4,053
Total	$	20,003	$	1,338,484	$	13,159	$	1,371,646

Summary of Composition of Short and Long Term Investments

The following tables summarize the composition of our short- and long-term investments at June 30, 2024 and December 31, 2023.


	June 30, 2024
	Amortized Cost		Unrealized Gains		Unrealized Losses			Aggregate Fair Value
	(in thousands)
Commercial paper	$	21,612	$	—	$	—		$	21,612
Corporate bonds		244,160		8		(822	)		243,346
U.S. Government agency securities		133,399		5		(456	)		132,948
U.S. Treasury securities		751,132		—		(1,216	)		749,916
Total	$	1,150,303	$	13	$	(2,494	)	$	1,147,822


	December 31, 2023
	Amortized Cost		Unrealized Gains		Unrealized Losses			Aggregate Fair Value
	(in thousands)
Commercial paper	$	11,513	$	—	$	—		$	11,513
Corporate bonds		237,662		422		(678	)		237,406
U.S. Government agency securities		122,414		520		(176	)		122,758
U.S. Treasury securities		953,457		1,087		(273	)		954,271
Total	$	1,325,046	$	2,029	$	(1,127	)	$	1,325,948

Summary of Contractual Maturities of Short and Long Term Investments

The contractual maturities of short-term and long-term investments held at June 30, 2024 and December 31, 2023 are as follows:


	June 30, 2024				December 31, 2023
	Amortized Cost Basis		Aggregate Fair Value		Amortized Cost Basis		Aggregate Fair Value
	(in thousands)				(in thousands)
Due within one year	$	939,531	$	937,830	$	1,000,447	$	1,000,245
Due after 1 year through 2 years		210,772		209,992		324,599		325,703
Total	$	1,150,303	$	1,147,822	$	1,325,046	$	1,325,948

- Definition

Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-9

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

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-SubTopic 10
-Name Accounting Standards Codification
-Section 50
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-Subparagraph (a)
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+ Details

Leases - Schedule of Operating Lease Expense and Cash Payments related to Operating Lease Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Leases [Abstract]
Operating lease expense	$ 9,860	$ 9,989	$ 19,740	$ 22,910
Cash payments	$ 13,555	$ 16,705	$ 29,425	$ 31,127

Capitalized Software Development Costs (Tables)

6 Months Ended

Jun. 30, 2024

Research and Development [Abstract]

Summary of Capitalized Software Development Costs, Exclusive of those Recorded within Property and Equipment

Capitalized software development costs, exclusive of those recorded within property and equipment, consisted of the following:


	June 30, 2024			December 31, 2023
	(in thousands)
Gross capitalized software development costs	$	313,489		$	257,052
Accumulated amortization		(181,463	)		(150,823	)
Capitalized software development costs, net	$	132,026		$	106,229

Organization and Operations (Tables)

6 Months Ended

Jun. 30, 2024

Accounting Policies [Abstract]

Summary Of Interim Consolidated Statements Of Operations

Changes to the interim consolidated statements of operations for the three and six months ended June 30, 2023, as a result of the error, were as follows (in thousands, except per share data):


Consolidated Statements of Operations and Comprehensive Loss	For the Three Months Ended June 30, 2023
	As Previously Reported			Adjustments			As Revised
	(in thousands)
Cost of revenues - Subscription	$	73,824		$	(2,330	)	$	71,494
Total cost of revenues		87,286			(2,330	)		84,956
Gross profit		441,852			2,330			444,182
Loss from operations		(118,499	)		2,330			(116,169	)
Loss before income tax expense		(105,564	)		2,330			(103,234	)
Income tax expense		(13,382	)		4,813			(8,569	)
Net loss		(118,946	)		7,143			(111,803	)
Comprehensive loss		(119,575	)		7,143			(112,432	)
Net loss per common share, basic and diluted	$	(2.39	)	$	0.14		$	(2.25	)


	For the Six Months Ended June 30, 2023
	As Previously Reported			Adjustments			As Revised
	(in thousands)
Cost of revenues - Subscription	$	142,163		$	(4,047	)	$	138,116
Total cost of revenues		169,332			(4,047	)		165,285
Gross profit		861,426			4,047			865,473
Loss from operations		(163,264	)		4,047			(159,217	)
Loss before income tax expense		(141,583	)		4,047			(137,536	)
Income tax expense		(15,645	)		4,658			(10,987	)
Net loss		(157,228	)		8,705			(148,523	)
Comprehensive loss		(152,723	)		8,705			(144,018	)
Net loss per common share, basic and diluted	$	(3.17	)	$	0.17		$	(3.00	)

Changes in Accumulated Other Comprehensive Loss

6 Months Ended

Jun. 30, 2024

Equity [Abstract]

Changes in Accumulated Other Comprehensive Loss

12. Changes in Accumulated Other Comprehensive Loss

The following table summarizes the changes in accumulated other comprehensive loss, which is reported as a component of stockholders’ equity, for the six months ended June 30, 2024 and 2023.


	Cumulative Translation Adjustment			Unrealized Loss on Investments			Unrealized Loss on Derivate Instruments			Total
	(in thousands)
Beginning balance at January 1, 2024	$	950		$	877		$	—		$	1,827
Other comprehensive loss before reclassifications		(2,801	)		(3,403	)		(501	)		(6,705	)
Amounts reclassified from accumulated other comprehensive income, net of tax		—			—			56			56
Ending balance at June 30, 2024		(1,851	)		(2,526	)		(445	)		(4,822	)


	Cumulative Translation Adjustment			Unrealized Loss on Investments			Unrealized Loss on Derivate Instruments		Total
	(in thousands)
Beginning balance at January 1, 2023	$	(3,070	)	$	(9,820	)	$	—	$	(12,890	)
Other comprehensive gain before reclassifications		1,026			3,479			—		4,505
Amounts reclassified from accumulated other comprehensive income, net of tax		—			—			—		—
Ending balance at June 30, 2023		(2,044	)		(6,341	)		—		(8,385	)

Segment Information and Geographic Data

6 Months Ended

Jun. 30, 2024

Segment Reporting [Abstract]

Segment Information and Geographic Data

14. Segment Information and Geographic Data

The Company operates as one operating segment. Operating segments are defined as components of an enterprise for which separate financial information is regularly evaluated by the chief operating decision maker (“CODM”), which is the Company’s chief executive officer, in deciding how to allocate resources and assess performance. The Company’s CODM evaluates the Company’s financial information and resources and assesses the performance of these resources on a consolidated basis. Since the Company operates in one operating segment, all required financial segment information can be found in the consolidated financial statements. Revenue and long-lived assets by geographic region, based on the physical location of the operations recording the sale or the asset, are as follows:

Revenues by geographical region:


	Three Months Ended June 30,						Six Months Ended June 30,
	2024			2023			2024			2023
	(in thousands)						(in thousands)
Americas	$	386,325		$	321,827		$	760,872		$	629,650
Europe		199,673			162,741			392,795			313,580
Asia Pacific		51,232			44,570			100,977			87,528
Total	$	637,230		$	529,138		$	1,254,644		$	1,030,758
Percentage of revenues generated outside of the Americas		39	%		39	%		39	%		39	%

Revenue derived from customers outside the United States (international) was approximately 47% of total revenue in the three and six months ended June 30, 2024, 47% of total revenue in the three months ended June 30, 2023 and 46% of total revenue in the six months ended June 30, 2023.

Total long-lived assets by geographical region:


	As of June 30, 2024			As of December 31, 2023
	(in thousands)
Americas	$	226,822		$	235,141
Europe		101,818			112,176
Asia Pacific		5,652			7,085
Total long-lived assets	$	334,292		$	354,402
Percentage of long-lived assets held outside of the Americas		32	%		34	%

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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+ Details

Unaudited Consolidated Statements of Comprehensive Loss (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Comprehensive Income [Abstract]
Changes in unrealized gain (loss) on investments, income taxes	$ 0	$ 0	$ 0	$ 0
Changes in unrealized gain (loss) on cash flow hedges, income taxes	$ 63	$ 0	$ 63	$ 0

Business Acquisition - Summary of Fair Value of Assets Acquired and Liabilities Assumed (Detail) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Business Acquisition [Line Items]
Goodwill	$ 173,565	$ 173,761

- Definition

Amount, after accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

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+ Details

Unaudited Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Accounts receivable, allowance for doubtful accounts	$ 4,903	$ 5,516

Convertible Senior Notes

6 Months Ended

Jun. 30, 2024

Debt Disclosure [Abstract]

Convertible Senior Notes

9. Convertible Senior Notes

2025 Convertible Senior Notes and Capped Call Options

In June 2020, the Company issued $400 million aggregate principal amount of 0.375% convertible senior notes due June 1, 2025 (the “2025 Notes”) in a private offering and an additional $60 million aggregate principal amount of the 2025 Notes pursuant to the exercise in full of the over-allotment options of the initial purchasers. The interest rate is fixed at 0.375% per annum and is payable semi-annually in arrears on June 1 and December 1 of each year. The total net proceeds from the debt offering, after deducting initial purchase discounts and debt issuance costs, were approximately $450.1 million.

Each $1,000 of principal amount of the 2025 Notes will initially be convertible into 3.5396 shares of the Company’s common stock (the “Conversion Option of the 2025 Notes”), which is equivalent to an initial conversion price of approximately $282.52 per share, subject to adjustment upon the occurrence of certain specified events. On or after March 1, 2025 until the close of business on the second scheduled trading day immediately preceding the maturity date, holders may convert their 2025 Notes at any time. The 2025 Notes will be convertible at the option of the holders prior to the close of business on the business day immediately preceding March 1, 2025 under certain circumstances as described in the indenture governing the 2025 Notes (the “Indenture”). Upon conversion, the Company will pay or deliver, as the case may be, cash, shares of the Company’s common stock or a combination of cash and shares of the Company’s common stock, at the Company’s election. The 2025 Notes are classified as short-term debt and the Company expects to settle the principal amount of the 2025 Notes in cash. Because the last reported sale price of the Company’s common stock for at least 20 trading days during the period of 30 consecutive trading days ending on the last trading day of the calendar quarter ended June 30, 2024 was equal to or greater than 130% of the applicable conversion price on each applicable trading day, the 2025 Notes are convertible at the option of the holders thereof during the calendar quarter ending June 30, 2024. As of August 2, 2024, the Company has not received any conversion notices.

The net carrying amount of the liability component of the 2025 Notes is as follows:


	As of June 30, 2024			As of December 31, 2023
	(in thousands)
Principal	$	459,071		$	459,076
Unamortized issuance costs		(1,875	)		(2,870	)
Net carrying amount	$	457,196		$	456,206

Interest expense related to the 2025 Notes is as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
	(in thousands)
Contractual interest expense	$	430	$	430	$	861	$	861
Amortization of issuance costs		502		496		1,002		980
Total interest expense	$	932	$	926	$	1,863	$	1,841

In connection with the offering of the 2025 Notes, the Company purchased capped call options (“Capped Call Options”) with respect to its common stock for $50.6 million. The Capped Call Options are purchased call options that give the Company the option to purchase up to approximately 1.6 million shares of its common stock for $282.52 per share, which corresponds to the approximate initial conversion price of the 2025 Notes. The Capped Call Options were purchased in order to offset potential dilution to the Company’s common stock upon any conversion of the 2025 Notes, subject to a cap of $426.44 per share, and expire concurrently with the 2025 Notes. The $50.6 million paid for the Capped Call Options is recorded in stockholders’ equity as a reduction in additional paid-in capital and the Capped Call Options are not accounted for as separate derivative financial instruments.

Restricted Cash

6 Months Ended

Jun. 30, 2024

Cash and Cash Equivalents [Abstract]

Restricted Cash

5. Restricted Cash


	June 30, 2024		June 30, 2023		December 31, 2023
	(in thousands)
Cash and cash equivalents	$	797,875	$	457,218	$	387,987
Restricted cash, included other assets		4,053		3,153		4,053
Total cash, cash equivalents, and restricted cash	$	801,928	$	460,371	$	392,040

Unaudited Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 797,875	$ 387,987
Short-term investments	937,830	1,000,245
Accounts receivable - net of allowance for doubtful accounts of $4,903 at June 30, 2024 and $5,516 at December 31, 2023	269,908	295,303
Deferred commission expense	119,558	99,326
Prepaid expenses and other current assets	111,033	88,679
Total current assets	2,236,204	1,871,540
Long-term investments	209,992	325,703
Property and equipment, net	105,886	103,331
Capitalized software development costs, net	132,026	106,229
Right-of-use assets	228,406	251,071
Deferred commission expense, net of current portion	138,636	122,194
Other assets	93,866	75,247
Intangible assets, net	37,421	42,316
Goodwill	173,565	173,761
Total assets	3,356,002	3,071,392
Current liabilities:
Accounts payable	4,115	9,106
Accrued compensation costs	61,206	53,462
Accrued commissions	78,657	78,169
Accrued expenses and other current liabilities	95,078	94,074
Operating lease liabilities	32,886	35,047
Convertible senior notes	457,196
Deferred revenue	708,113	672,150
Total current liabilities	1,437,251	942,008
Operating lease liabilities, net of current portion	273,137	296,561
Deferred revenue, net of current portion	4,606	5,810
Other long-term liabilities	40,109	36,459
Convertible senior notes		456,206
Total liabilities	1,755,103	1,737,044
Commitments and contingencies (Note 10)
Stockholders’ equity:
Common stock	51	50
Additional paid-in capital	2,418,608	2,136,908
Accumulated other comprehensive (loss) income	(4,822)	1,827
Accumulated deficit	(812,938)	(804,437)
Total stockholders’ equity	1,600,899	1,334,348
Total liabilities and stockholders’ equity	$ 3,356,002	$ 3,071,392

Changes in Accumulated Other Comprehensive Loss - Changes in Accumulated Other Comprehensive Loss (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance, Amount	$ 1,334,348	$ 994,678
Other comprehensive gain before reclassifications	(6,705)	4,505
Amounts reclassified from accumulated other comprehensive income, net of tax	56
Ending Balance, Amount	1,600,899	1,093,624
Cumulative Translation Adjustment [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance, Amount	950	(3,070)
Other comprehensive gain before reclassifications	(2,801)	1,026
Ending Balance, Amount	(1,851)	(2,044)
Unrealized Loss on Investments [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance, Amount	877	(9,820)
Other comprehensive gain before reclassifications	(3,403)	3,479
Ending Balance, Amount	(2,526)	(6,341)
Unrealized Loss on Derivate Instruments [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Other comprehensive gain before reclassifications	(501)
Amounts reclassified from accumulated other comprehensive income, net of tax	56
Ending Balance, Amount	(445)
Accumulated Other Comprehensive Loss [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance, Amount	1,827	(12,890)
Ending Balance, Amount	$ (4,822)	$ (8,385)

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

+ References

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+ Details

Restricted Cash - Summary of Reconciliation of Cash, Cash Equivalents and Restricted Cash (Detail) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023
Cash and Cash Equivalents [Abstract]
Cash and cash equivalents	$ 797,875	$ 387,987	$ 457,218
Restricted cash, included in other assets	$ 4,053	$ 4,053	$ 3,153
Restricted Cash, Asset, Statement of Financial Position [Extensible List]	Other assets	Other assets	Other assets
Total cash, cash equivalents, and restricted cash	$ 801,928	$ 392,040	$ 460,371

Property and Equipment, Net - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Property, Plant and Equipment [Abstract]
Depreciation and amortization	$ 7.0	$ 6.7	$ 14.1	$ 14.1
Fixed assets disposals		$ 0.5		$ 1.3

Segment Information and Geographic Data - Long Lived Assets by Geographical Region (Detail) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Segment Reporting Information [Line Items]
Total long lived assets	$ 334,292	$ 354,402
Americas [Member]
Segment Reporting Information [Line Items]
Total long lived assets	226,822	235,141
Europe [Member]
Segment Reporting Information [Line Items]
Total long lived assets	101,818	112,176
Asia Pacific [Member]
Segment Reporting Information [Line Items]
Total long lived assets	$ 5,652	$ 7,085
Outside Of Americas [Member] \| Assets Total [Member] \| Geographic Concentration Risk [Member]
Segment Reporting Information [Line Items]
Percentage of long lived assets held outside of the Americas	32.00%	34.00%

Fair Value of Financial Instruments - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2024	Dec. 31, 2023
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Other assets	$ 93,866	$ 93,866	$ 75,247
Debt securities, available-for-sale, realized gain	2,100	18,500
Debt securities, available-for-sale, realized gain, net	1,600	14,400
Strategic Investments [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Other assets	40,700	40,700	$ 41,100
Impairment charges	500	4,100
2025 Notes [Member] \| Fair Value, Inputs, Level 2 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Fair value of notes	$ 963,900,000	$ 963,900,000

Revenues	6 Months Ended
Revenues	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Revenues	2. Revenues Disaggregation of Revenue The Company provides disaggregation of revenue based on geographic region (Note 14) and based on the subscription versus professional services and other classification on the consolidated statements of operations as it believes these best depict how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors. Deferred Revenue and Deferred Commission Expense Amounts that have been invoiced are recorded in accounts receivable and deferred revenue or revenue, depending on whether the revenue recognition criteria have been met. Deferred revenue represents amounts billed for which revenue has not yet been recognized. Deferred revenue that will be recognized during the succeeding 12-month period is recorded as current deferred revenue, and the remaining portion is recorded as long-term deferred revenue. Deferred revenue during the six months ended June 30, 2024 increased by $34.8 million resulting from $672.0 million of additional invoicing and was offset by revenue recognized of $637.2 million during the same period. $375.2 million of revenue was recognized during the three months ended June 30, 2024 that was included in deferred revenue at the beginning of the period. $520.9 million of revenue was recognized during the six months ended June 30, 2024 that was included in deferred revenue at the beginning of the period. As of June 30, 2024, approximately $867.2 million of revenue is expected to be recognized from remaining performance obligations for contracts with original performance obligations that exceed one year. The Company expects to recognize revenue on approximately 90% of these remaining performance obligations over the next 24 months, with the balance recognized thereafter. Additional contract liabilities of $6.3 million and $4.5 million were included in accrued expenses and other current liabilities on the consolidated balance sheet as of June 30, 2024 and December 31, 2023. The incremental direct costs of obtaining a contract, which primarily consist of sales and Solutions Partner commissions paid for new subscription contracts, are deferred and amortized on a straight-line basis over a period of approximately two to four years. The two to four-year period has been determined by taking into consideration the type of product sold, the commitment term of the customer contract, the nature of the Company’s technology development life-cycle, and an estimated customer relationship period. Sales and Solutions Partner commissions for upgrade contracts are deferred and amortized on a straight-line basis over the remaining estimated customer relationship period of the related customer. Deferred commission expense that will be recorded as expense during the succeeding 12-month period is recorded as current deferred commission expense, and the remaining portion is recorded as long-term deferred commission expense. Deferred commission expense during the three months ended June 30, 2024 increased by $22.2 million as a result of deferring incremental costs of obtaining a contract of $55.1 million and was offset by amortization of $32.9 million during the same period. Deferred commission expense during the six months ended June 30, 2024 increased by $36.7 million as a result of deferring incremental costs of obtaining a contract of $101.7 million and was offset by amortization of $65.0 million during the same period.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ (14,435)	$ 5,934	$ (111,803)	$ (36,720)	$ (8,501)	$ (148,523)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Segment Information and Geographic Data - Revenues by Geographical Region (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Segment Reporting Information [Line Items]
Total revenues	$ 637,230	$ 529,138	$ 1,254,644	$ 1,030,758
Americas [Member]
Segment Reporting Information [Line Items]
Total revenues	386,325	321,827	760,872	629,650
Europe [Member]
Segment Reporting Information [Line Items]
Total revenues	199,673	162,741	392,795	313,580
Asia Pacific [Member]
Segment Reporting Information [Line Items]
Total revenues	$ 51,232	$ 44,570	$ 100,977	$ 87,528
Revenue [Member] \| Outside Of Americas [Member] \| Geographic Concentration Risk [Member]
Segment Reporting Information [Line Items]
Percentage of revenues generated outside of the Americas	39.00%	39.00%	39.00%	39.00%

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

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+ Details

Commitments and Contingencies

6 Months Ended

Jun. 30, 2024

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

10. Commitments and Contingencies

Contractual Obligations

The Company leases its office facilities under non-cancelable operating leases that expire at various dates through February 2035. Certain leases contain optional termination dates. The table below only includes payments up to the optional termination date. If the Company were to extend leases beyond the optional termination date, the future commitments would increase by approximately $77.2 million.

Included in the table below are various operating lease commitments for leases that have not yet commenced of approximately $4.1 million.

Future minimum payments under all operating lease agreements as of June 30, 2024 are as follows:


	(in thousands)
Remainder of 2024	$	28,258
2025		56,432
2026		51,816
2027		46,866
2028		34,134
Thereafter		162,489
Total	$	379,995

The Company has entered into certain non-cancelable vendor commitments, which require the future purchase of goods or services. Future minimum payments under all non-cancelable vendor commitments as of June 30, 2024 are as follows:


	(in thousands)
Remainder of 2024	$	123,037
2025		237,793
2026		236,789
2027		187,846
2028		184
Thereafter		—
Total	$	785,649

Legal Contingencies

From time to time, the Company may become a party to litigation and subject to claims incident to the ordinary course of business, including intellectual property claims, labor and employment claims, and threatened claims, breach of contract claims, tax, and other matters. The Company currently has no material pending litigation.

Net Loss per Share - Schedule of Potentially Dilutive Common Stock Equivalents (Detail) - shares	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Conversion Option of the 2025 Notes [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	1,625	1,625
Employee Stock Option
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	360	493
RSUs [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	1,937	2,267
PSUs [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	34
ESPP [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	40	24

Fair Value of Financial Instruments - Summary of Composition of Short and Long Term Investments (Detail) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 1,150,303	$ 1,325,046
Unrealized Gains	13	2,029
Unrealized Losses	(2,494)	(1,127)
Aggregate Fair Value	1,147,822	1,325,948
Commercial Paper [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	21,612	11,513
Aggregate Fair Value	21,612	11,513
Corporate Bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	244,160	237,662
Unrealized Gains	8	422
Unrealized Losses	(822)	(678)
Aggregate Fair Value	243,346	237,406
U.S. Government Agency Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	133,399	122,414
Unrealized Gains	5	520
Unrealized Losses	(456)	(176)
Aggregate Fair Value	132,948	122,758
US Treasury Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	751,132	953,457
Unrealized Gains	0	1,087
Unrealized Losses	(1,216)	(273)
Aggregate Fair Value	$ 749,916	$ 954,271

- Definition

Amount of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

+ References

+ Details

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 10
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-Section 50
-Paragraph 2
-Subparagraph (a)
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 10
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-Section 50
-Paragraph 2
-Subparagraph (b)
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 10
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-Section 50
-Paragraph 3
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

+ Details

Stock-Based Compensation Expense - Schedule of Stock-Based Compensation Expense by Award Type (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	$ 128,994	$ 128,003	$ 240,116	$ 211,038
Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	1,822	3,133	4,392	5,839
RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	116,913	117,891	216,743	190,937
PSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	6,340	2,783	11,167	6,017
ESPP [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	$ 3,919	$ 4,196	$ 7,814	$ 8,245

Unaudited Consolidated Statements of Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock [Member]	Treasury Stock [Member]	Additional Paid-In Capital [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Accumulated Deficit [Member]
Beginning Balance, Amount at Dec. 31, 2022	$ 994,678	$ 49		$ 1,647,446	$ (12,890)	$ (639,927)
Beginning Balance, Shares at Dec. 31, 2022		49,217	910
Issuance of common stock under stock plans	1,196			1,196
Issuance of common stock under stock plans, Shares		260
Restricted stock units taxes paid in cash	(1,198)			(1,198)
Restricted stock units taxes paid in cash, Shares		(4)
Stock-based compensation	87,305			87,305
Other comprehensive income (loss), net of tax	5,134				5,134
Net Income (Loss)	(36,720)					(36,720)
Ending Balance, Amount at Mar. 31, 2023	1,050,395	$ 49		1,734,749	(7,756)	(676,647)
Ending Balance, Shares at Mar. 31, 2023		49,473	910
Beginning Balance, Amount at Dec. 31, 2022	994,678	$ 49		1,647,446	(12,890)	(639,927)
Beginning Balance, Shares at Dec. 31, 2022		49,217	910
Net Income (Loss)	(148,523)
Ending Balance, Amount at Jun. 30, 2023	1,093,624	$ 50		1,890,409	(8,385)	(788,450)
Ending Balance, Shares at Jun. 30, 2023		49,841	910
Beginning Balance, Amount at Mar. 31, 2023	1,050,395	$ 49		1,734,749	(7,756)	(676,647)
Beginning Balance, Shares at Mar. 31, 2023		49,473	910
Issuance of common stock under stock plans	22,783	$ 1		22,782
Issuance of common stock under stock plans, Shares		375
Restricted stock units taxes paid in cash	(2,904)			(2,904)
Restricted stock units taxes paid in cash, Shares		(7)
Stock-based compensation	135,782			135,782
Other comprehensive income (loss), net of tax	(629)				(629)
Net Income (Loss)	(111,803)					(111,803)
Ending Balance, Amount at Jun. 30, 2023	1,093,624	$ 50		1,890,409	(8,385)	(788,450)
Ending Balance, Shares at Jun. 30, 2023		49,841	910
Beginning Balance, Amount at Dec. 31, 2023	1,334,348	$ 50		2,136,908	1,827	(804,437)
Beginning Balance, Shares at Dec. 31, 2023		50,448	910
Issuance of common stock under stock plans	6,514	$ 1		6,513
Issuance of common stock under stock plans, Shares		332	(1)
Restricted stock units taxes paid in cash	(8,791)			(8,791)
Restricted stock units taxes paid in cash, Shares		(20)
Stock-based compensation	115,919			115,919
Other comprehensive income (loss), net of tax	(4,807)				(4,807)
Net Income (Loss)	5,934					5,934
Ending Balance, Amount at Mar. 31, 2024	1,449,117	$ 51		2,250,549	(2,980)	(798,503)
Ending Balance, Shares at Mar. 31, 2024		50,760	909
Beginning Balance, Amount at Dec. 31, 2023	1,334,348	$ 50		2,136,908	1,827	(804,437)
Beginning Balance, Shares at Dec. 31, 2023		50,448	910
Net Income (Loss)	(8,501)
Ending Balance, Amount at Jun. 30, 2024	1,600,899	$ 51		2,418,608	(4,822)	(812,938)
Ending Balance, Shares at Jun. 30, 2024		51,122	905
Beginning Balance, Amount at Mar. 31, 2024	1,449,117	$ 51		2,250,549	(2,980)	(798,503)
Beginning Balance, Shares at Mar. 31, 2024		50,760	909
Issuance of common stock under stock plans	38,074			38,074
Issuance of common stock under stock plans, Shares		384	(4)
Restricted stock units taxes paid in cash	(4,700)			(4,700)
Restricted stock units taxes paid in cash, Shares		(22)
Stock-based compensation	134,685			134,685
Other comprehensive income (loss), net of tax	(1,842)				(1,842)
Net Income (Loss)	(14,435)					(14,435)
Ending Balance, Amount at Jun. 30, 2024	$ 1,600,899	$ 51		$ 2,418,608	$ (4,822)	$ (812,938)
Ending Balance, Shares at Jun. 30, 2024		51,122	905

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

- Definition

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

+ References

+ Details

Derivatives (Tables)

6 Months Ended

Jun. 30, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of the Fair Value of Derivative Financial Instruments

The following summarizes the fair value of derivative financial instruments as of June 30, 2024 and December 31, 2023:


	As of June 30, 2024		As of December 31, 2023
	(in thousands)
Accrued expenses and other current liabilities
Cash flow hedges	$	390	$	—
Total	$	390	$	—

Schedule of Derivatives and the Impact on AOCI

The following table presents the activity of foreign currency forward contracts designated as hedging instruments and the impact of these derivatives on AOCI:


	Six Months Ended June 30,
	2024			2023
	(in thousands)
Beginning balance	$	—		$	—
Net losses recognized in other comprehensive income, net of tax		501			—
Net losses reclassified from AOCI to earnings		(56	)		—
Ending balance	$	445		$	—

Schedule of Effect of Hedges on Consolidated Statements of Operations

The effect of hedges on the consolidated statements of operations was as follows:


	Three Months Ended June 30,					Six Months Ended June 30,
	2024			2023		2024			2023
	(in thousands)
Losses reclassified from AOCI related to cash flow hedges
Revenue	$	(56	)	$	—	$	(56	)	$	—

Convertible Senior Notes - Schedule of Interest Expense (Detail) - 0.375% Convertible Senior Notes Due 2025 [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Debt Instrument [Line Items]
Contractual interest expense	$ 430	$ 430	$ 861	$ 861
Amortization of issuance costs	502	496	1,002	980
Total interest expense	$ 932	$ 926	$ 1,863	$ 1,841

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Capitalized Software Development Costs - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Capitalized Computer Software, Net [Abstract]
Amortization of software development costs, exclusive of costs recorded within property and equipment	$ 17.8	$ 10.7	$ 33.8	$ 20.5

Leases

6 Months Ended

Jun. 30, 2024

Leases [Abstract]

Leases

11. Leases

The Company leases office facilities under non-cancelable operating leases that expire at various dates through February 2035. During the six months ended June 30, 2024, the Company modified various leases of office spaces globally. The Company recorded a reduction in right-of-use assets of $7.3 million and an increase in lease liabilities of $0.5 million for these leases during the period upon the lease modification.

Operating lease expense and cash payments related to operating lease liabilities for the three and six months ended June 30, 2024 and 2023 are as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
	(in thousands)				(in thousands)
Operating lease expense	$	9,860	$	9,989	$	19,740	$	22,910
Cash payments		13,555		16,705		29,425		31,127


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
	(in thousands)				(in thousands)
Operating sublease income	$	1,679	$	2,015	$	3,926	$	4,042

Capitalized Software Development Costs - Summary of Capitalized Software Development Costs, Exclusive of those Recorded within Property and Equipment (Detail) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Capitalized Computer Software, Net [Abstract]
Gross capitalized software development costs	$ 313,489	$ 257,052
Accumulated amortization	(181,463)	(150,823)
Capitalized software development costs, net	$ 132,026	$ 106,229

Stock-Based Compensation Expense (Tables)

6 Months Ended

Jun. 30, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Stock-Based Compensation Expense by Award Type

The following two tables show stock-based compensation expense by award type and where the stock-based compensation expense is recorded in the Company’s consolidated statements of operations:


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
	(in thousands)				(in thousands)
Options	$	1,822	$	3,133	$	4,392	$	5,839
RSUs		116,913		117,891		216,743		190,937
PSUs		6,340		2,783		11,167		6,017
Employee stock purchase plan		3,919		4,196		7,814		8,245
Total stock-based compensation expense	$	128,994	$	128,003	$	240,116	$	211,038

Effect of Stock-Based Compensation on Income by Line Item

Effect of stock-based compensation expense on income by line item:


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
	(in thousands)				(in thousands)
Cost of revenue, subscription	$	5,444	$	3,516	$	10,404	$	6,259
Cost of revenue, professional services and other		1,128		1,459		2,215		2,546
Research and development		64,693		64,060		115,318		97,384
Sales and marketing		36,168		38,625		71,325		68,794
General and administrative		21,561		20,343		40,854		36,055
Total stock-based compensation expense	$	128,994	$	128,003	$	240,116	$	211,038

Leases - Additional Information (Details) $ in Millions	6 Months Ended
Leases - Additional Information (Details) $ in Millions	Jun. 30, 2024 USD ($)
Leases [Abstract]
Reduction in right-of use assets	$ 7.3
Increase in operating lease liabilities	$ 0.5

Commitments and Contingencies - Schedule of Future Minimum Payments Under Non-Cancelable Arrangements (Details) - Vendor Commitments [Member] $ in Thousands	Jun. 30, 2024 USD ($)
Long-Term Purchase Commitment [Line Items]
Remainder of 2024	$ 123,037
Non-cancelable arrangements, 2025	237,793
Non-cancelable arrangements, 2026	236,789
Non-cancelable arrangements, 2027	187,846
Non-cancelable arrangements, 2028	184
Purchase Obligation, Total	$ 785,649

Commitments and Contingencies (Tables)

6 Months Ended

Jun. 30, 2024

Commitments and Contingencies Disclosure [Abstract]

Schedule of Future Minimum Payments

Future minimum payments under all operating lease agreements as of June 30, 2024 are as follows:


	(in thousands)
Remainder of 2024	$	28,258
2025		56,432
2026		51,816
2027		46,866
2028		34,134
Thereafter		162,489
Total	$	379,995

Schedule of Future Minimum Payments Under Non-Cancelable Arrangements

Future minimum payments under all non-cancelable vendor commitments as of June 30, 2024 are as follows:


	(in thousands)
Remainder of 2024	$	123,037
2025		237,793
2026		236,789
2027		187,846
2028		184
Thereafter		—
Total	$	785,649

Changes in Stockholders' Equity - Summary of Changes in Stockholders' Equity (Detail) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
Class Of Stock [Line Items]
Beginning Balance, Amount	$ 1,449,117	$ 1,334,348	$ 1,050,395	$ 994,678	$ 1,334,348	$ 994,678
Issuance of common stock under stock plans	38,074	6,514	22,783	1,196
Stock-based compensation	134,685	115,919	135,782	87,305
Net Income (Loss)	(14,435)	5,934	(111,803)	(36,720)	(8,501)	(148,523)
Ending Balance, Amount	1,600,899	1,449,117	1,093,624	1,050,395	1,600,899	1,093,624
Common Stock [Member]
Class Of Stock [Line Items]
Beginning Balance, Amount	$ 51	$ 50	$ 49	$ 49	$ 50	$ 49
Beginning Balance, Shares	50,760	50,448	49,473	49,217	50,448	49,217
Issuance of common stock under stock plans		$ 1	$ 1
Issuance of common stock under stock plans, Shares	384	332	375	260
Ending Balance, Amount	$ 51	$ 51	$ 50	$ 49	$ 51	$ 50
Ending Balance, Shares	51,122	50,760	49,841	49,473	51,122	49,841
Additional Paid-In Capital [Member]
Class Of Stock [Line Items]
Beginning Balance, Amount	$ 2,250,549	$ 2,136,908	$ 1,734,749	$ 1,647,446	$ 2,136,908	$ 1,647,446
Issuance of common stock under stock plans	38,074	6,513	22,782	1,196
Stock-based compensation	134,685	115,919	135,782	87,305
Ending Balance, Amount	2,418,608	2,250,549	1,890,409	1,734,749	2,418,608	1,890,409
Accumulated Other Comprehensive Income (Loss) [Member]
Class Of Stock [Line Items]
Beginning Balance, Amount	(2,980)	1,827	(7,756)	(12,890)	1,827	(12,890)
Ending Balance, Amount	(4,822)	(2,980)	(8,385)	(7,756)	(4,822)	(8,385)
Accumulated Deficit [Member]
Class Of Stock [Line Items]
Beginning Balance, Amount	(798,503)	(804,437)	(676,647)	(639,927)	(804,437)	(639,927)
Net Income (Loss)	(14,435)	5,934	(111,803)	(36,720)
Ending Balance, Amount	$ (812,938)	$ (798,503)	$ (788,450)	$ (676,647)	$ (812,938)	$ (788,450)

Segment Information and Geographic Data - Additional Information (Detail) - Segment	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Segment Reporting Information [Line Items]
Number of operating segment			1
Revenue [Member] \| Outside Of United States [Member] \| Geographic Concentration Risk [Member]
Segment Reporting Information [Line Items]
Concentration risk, percentage	47.00%	47.00%	47.00%	46.00%

Derivatives - Schedule of Derivatives and the Impact on AOCI (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Derivative Instruments, Gain (Loss) [Line Items]
Beginning Balance, Amount	$ 1,334,348	$ 994,678
Net losses recognized in other comprehensive income, net of tax	6,705	(4,505)
Net losses reclassified from AOCI to earnings	(56)
Ending Balance, Amount	1,600,899	$ 1,093,624
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member] \| Designated as Hedging Instrument [Member] \| Foreign Currency Forward Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Net losses recognized in other comprehensive income, net of tax	501
Net losses reclassified from AOCI to earnings	(56)
Ending Balance, Amount	$ 445

- Definition

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

+ References

+ Details

Convertible Senior Notes (Tables)

6 Months Ended

Jun. 30, 2024

0.375%Convertible Senior Notes Due 2025 as Liability Component [Member]

Debt Instrument [Line Items]

Schedule of Net Carrying Amount of Notes

The net carrying amount of the liability component of the 2025 Notes is as follows:


	As of June 30, 2024			As of December 31, 2023
	(in thousands)
Principal	$	459,071		$	459,076
Unamortized issuance costs		(1,875	)		(2,870	)
Net carrying amount	$	457,196		$	456,206

0.375% Convertible Senior Notes Due 2025 [Member]

Debt Instrument [Line Items]

Schedule of Interest Expense

Interest expense related to the 2025 Notes is as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
	(in thousands)
Contractual interest expense	$	430	$	430	$	861	$	861
Amortization of issuance costs		502		496		1,002		980
Total interest expense	$	932	$	926	$	1,863	$	1,841

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Fair Value of Financial Instruments - Schedule of Fair Value of Financial Assets and Liabilities (Detail) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of cash and cash equivalents	$ 10,553	$ 20,003
Investment, Type [Extensible Enumeration]	Money Market Funds [Member]	Money Market Funds [Member]
Fair value of short and long term investments	$ 1,147,822	$ 1,325,948
Fair value of restricted cash	4,053	4,053
Fair value of financial assets	1,604,411	1,371,646
Fair value of financial liabilities	390
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of cash and cash equivalents	$ 10,553	$ 20,003
Investment, Type [Extensible Enumeration]	Money Market Funds [Member]	Money Market Funds [Member]
Fair value of financial assets	$ 10,553	$ 20,003
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment, Type [Extensible Enumeration]	Money Market Funds [Member]	Money Market Funds [Member]
Fair value of restricted cash	$ 4,053	$ 4,053
Fair value of financial assets	1,562,233	1,338,484
Fair value of financial liabilities	390
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of short and long term investments	31,625	13,159
Commercial Paper [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of short and long term investments	24,099	13,504
Commercial Paper [Member] \| Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of short and long term investments	24,099	13,504
Corporate Bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of short and long term investments	243,346	237,406
Corporate Bonds [Member] \| Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of short and long term investments	243,346	237,406
U.S. Government Agency Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of short and long term investments	132,948	122,758
U.S. Government Agency Securities [Member] \| Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of short and long term investments	132,948	122,758
US Treasury Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of short and long term investments	1,157,787	960,763
US Treasury Securities [Member] \| Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of short and long term investments	1,157,787	960,763
Strategic Investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of short and long term investments	31,625	13,159
Strategic Investments [Member] \| Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of short and long term investments	31,625	$ 13,159
Foreign Currency Derivative Liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of accrued expenses and other current liabilities	390
Foreign Currency Derivative Liabilities [Member] \| Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of accrued expenses and other current liabilities	$ 390