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Financial Statement Components | 12 Months Ended
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Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Financial Statement Components | Note 3. Financial Statement Components Cash and cash equivalents consisted of the following (in thousands):
| December 31, 2023 |  | December 31, 2022
Cash | $ | 113,733 |  |  | $ | 88,153 |
Money market funds | 108,462 |  |  | 181,831 |
Total cash and cash equivalents | $ | 222,195 |  |  | $ | 269,984 |
As of December 31, 2023 and 2022, $1.1 million and $5.5 million in the cash balance above, respectively, represents restricted cash, which is held in the form of a bank deposit for issuance of a foreign bank guarantee. Accounts receivable, net consisted of the following (in thousands):
| December 31, 2023 |  | December 31, 2022
Accounts receivable | $ | 280,544 |  |  | $ | 242,650 |
Unbilled accounts receivable | 96,366 |  |  | 78,249 |
Allowance for doubtful accounts | (12,472) |  |  | (9,581) |
Accounts receivable, net | $ | 364,438 |  |  | $ | 311,318 |
Prepaid expenses and other current assets consisted of the following (in thousands):
| December 31, 2023 |  | December 31, 2022
Prepaid expenses | $ | 32,440 |  |  | $ | 23,306 |
Inventory | 1,492 |  |  | 1,209 |
Other current assets | 43,464 |  |  | 31,334 |
Total prepaid expenses and other current assets | $ | 77,396 |  |  | $ | 55,849 |
Property and equipment, net consisted of the following (in thousands):
| December 31, 2023 |  | December 31, 2022
Computer hardware and software | $ | 238,802 |  |  | $ | 221,727 |
Internal-use software development costs | 255,649 |  |  | 199,642 |
Furniture and fixtures | 8,964 |  |  | 8,937 |
Leasehold improvements | 14,369 |  |  | 13,889 |
Property and equipment, gross | 517,784 |  |  | 444,195 |
Less: accumulated depreciation and amortization | (333,394) |  |  | (258,795) |
Property and equipment, net | $ | 184,390 |  |  | $ | 185,400 |
Total depreciation and amortization expense related to property and equipment was $82.9 million, $72.0 million, and $58.9 million for the years ended December 31, 2023, 2022 and 2021, respectively. The carrying value of goodwill is as follows (in thousands):
Balance at December 31, 2022 | $ | 54,335 |
Acquisitions (Note 8) | 12,428 |
Foreign currency translation adjustments | 607 |
Balance at December 31, 2023 | $ | 67,370 |
The carrying values of intangible assets are as follows (in thousands):
|  |  | December 31, 2023 |  | December 31, 2022
| Weighted-Average Remaining Useful Life |  | Cost |  | Accumulated Amortization And Impairment |  | Acquired Intangibles, Net |  | Cost |  | Accumulated Amortization And Impairment |  | Acquired Intangibles, Net
Customer relationships | 2.6 years |  | $ | 26,506 |  |  | $ | 21,834 |  |  | $ | 4,672 |  |  | $ | 20,855 |  |  | $ | 19,090 |  |  | $ | 1,765 |
Developed technology | 2.8 years |  | 826,077 |  |  | 436,982 |  |  | 389,095 |  |  | 814,614 |  |  | 288,328 |  |  | 526,286 |
Total acquired intangible assets |  |  | $ | 852,583 |  |  | $ | 458,816 |  |  | $ | 393,767 |  |  | $ | 835,469 |  |  | $ | 307,418 |  |  | $ | 528,051 |
Amortization expense from acquired intangible assets for the years ended December 31, 2023, 2022 and 2021 was $151.1 million, $174.5 million, and $66.4 million, respectively. Amortization of developed technology is included in cost of revenues and amortization of customer relationships is included in sales and marketing expenses in the Consolidated Statements of Operations. Estimated amortization expense for acquired intangible assets for the following fiscal years is as follows (in thousands):
2024 | $ | 139,391 |
2025 | 138,522 |
2026 | 115,448 |
2027 onwards | 406 |
Total estimated amortization expense | $ | 393,767 |
Accrued liabilities consisted of the following (in thousands):
| December 31, 2023 |  | December 31, 2022
Accrued compensation and benefits | $ | 63,009 |  |  | $ | 53,419 |
Accrued sales, use, and telecom related taxes | 43,796 |  |  | 37,836 |
Accrued marketing and sales commissions | 60,528 |  |  | 127,940 |
Operating lease liabilities, short-term | 16,707 |  |  | 17,513 |
Other accrued expenses | 141,592 |  |  | 143,405 |
Total accrued liabilities | $ | 325,632 |  |  | $ | 380,113 |
Deferred and Prepaid Sales Commission Costs Amortization expense for the deferred and prepaid sales commission costs for the years ended December 31, 2023, 2022 and 2021 were $138.1 million, $115.2 million, and $74.2 million, respectively. There was no impairment loss in relation to the deferred commission costs capitalized for the periods presented. During the year ended December 31, 2023, the Company recorded a gain of $11.5 million in other income (expense) in earnings, pursuant to an amended agreement with a strategic partner.

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