Balance Sheet Components

3 Months Ended

Mar. 31, 2025

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Accounts Receivable, Net

As of March 31, 2025 and December 31, 2024, the Company’s allowance for doubtful accounts was $8.3 million and $8.2 million, respectively. Provision for bad debt for the three months ended March 31, 2025 and 2024 was $3.3 million and $2.6 million, respectively. Write-off of uncollectible accounts receivable for the three months ended March 31, 2025 and 2024 was $3.2 million and $1.4 million, respectively.

Property and Equipment, Net

Property and equipment, net consisted of the following:


	March 31, 2025		December 31, 2024

	(in thousands)
Property and equipment:
Servers—network infrastructure	$	555,590	$	488,799
Construction in progress	69,958		68,973
Capitalized internal-use software	107,613		98,055
Office and computer equipment	32,385		30,872
Office furniture	7,191		7,068
Software	5,013		4,097
Leasehold improvements	49,569		49,047
Asset retirement obligation	827		827
Gross property and equipment	828,146		747,738
Less accumulated depreciation and amortization	(314,280)		(280,318)
Total property and equipment, net	$	513,866	$	467,420

Depreciation and amortization expense on property and equipment for the three months ended March 31, 2025 and 2024 was $37.1 million and $24.1 million, respectively. This includes amortization expense for capitalized internal-use software which totaled $7.4 million and $5.5 million for the three months ended March 31, 2025 and 2024, respectively.

Goodwill

As of March 31, 2025 and December 31, 2024, the Company's goodwill was $181.1 million. No goodwill impairments were recorded during the three months ended March 31, 2025 and 2024.

Acquired Intangible Assets, Net

Acquired intangible assets, net consisted of the following:


	March 31, 2025
	Gross Carrying Amount		Accumulated Amortization		Net Book Value

	(in thousands)
Developed technology	$	22,861	$	10,702	$	12,159

Customer relationships	11,680		4,375		7,305
Other	4,462		30		4,432
Total acquired intangible assets, net	$	39,003	$	15,107	$	23,896


	December 31, 2024
	Gross Carrying Amount		Accumulated Amortization		Net Book Value

	(in thousands)
Developed technology	$	22,131	$	7,878	$	14,253

Customer relationships	11,600		3,988		7,612
Total acquired intangible assets, net	$	33,731	$	11,866	$	21,865

Amortization of acquired intangible assets was $3.2 million and $5.3 million for the three months ended March 31, 2025 and 2024, respectively.

As of March 31, 2025, the estimated future amortization expense of acquired intangible assets was as follows:


	Estimated Amortization
	(in thousands)
Year ending December 31,
2025 (remaining nine months)	$	9,724
2026	5,809
2027	1,896
2028	1,896
2029	1,896
Thereafter	2,675
Total	$	23,896