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Financial Statement Components | 12 Months Ended
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Dec. 31, 2024
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, 2024 |  | December 31, 2023
Cash | $ | 128,308 |  |  | $ | 113,733 |
Money market funds | 114,503 |  |  | 108,462 |
Total cash and cash equivalents | $ | 242,811 |  |  | $ | 222,195 |
As of December 31, 2024 and 2023, $7.4 million and $1.1 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, 2024 |  | December 31, 2023
Accounts receivable | $ | 300,805 |  |  | $ | 280,544 |
Unbilled accounts receivable | 100,578 |  |  | 96,366 |
Allowance for doubtful accounts | (15,131) |  |  | (12,472) |
Accounts receivable, net | $ | 386,252 |  |  | $ | 364,438 |
Prepaid expenses and other current assets consisted of the following (in thousands):
| December 31, 2024 |  | December 31, 2023
Prepaid expenses | $ | 39,858 |  |  | $ | 32,440 |
Inventory | 1,243 |  |  | 1,492 |
Other current assets | 18,343 |  |  | 43,464 |
Total prepaid expenses and other current assets | $ | 59,444 |  |  | $ | 77,396 |
Property and equipment, net consisted of the following (in thousands):
| December 31, 2024 |  | December 31, 2023
Computer hardware and software | $ | 252,961 |  |  | $ | 238,802 |
Internal-use software development costs | 314,944 |  |  | 255,649 |
Furniture and fixtures | 8,965 |  |  | 8,964 |
Leasehold improvements | 12,367 |  |  | 14,369 |
Property and equipment, gross | 589,237 |  |  | 517,784 |
Less: accumulated depreciation and amortization | (408,587) |  |  | (333,394) |
Property and equipment, net | $ | 180,650 |  |  | $ | 184,390 |
Total depreciation and amortization expense related to property and equipment was $86.1 million, $82.9 million, and $72.0 million for the years ended December 31, 2024, 2023 and 2022, respectively. For the year ended December 31, 2024, the Company recognized a non-cash impairment charge of $2.8 million related to abandoned internal-use software. This charge was recorded under research and development expenses in the Consolidated Statements of Operations. The carrying value of goodwill is as follows (in thousands):
Balance at December 31, 2023 | $ | 67,370 |
Acquisitions (Note 8) | 16,809 |
Foreign currency translation adjustments | (1,193) |
Balance at December 31, 2024 | $ | 82,986 |
The carrying values of intangible assets are as follows (in thousands):
|  |  | December 31, 2024 |  | December 31, 2023
| Weighted-Average Remaining Useful Life |  | Cost |  | Accumulated Amortization And Impairment |  | Acquired Intangibles, Net |  | Cost |  | Accumulated Amortization And Impairment |  | Acquired Intangibles, Net
Customer relationships | 4.1 years |  | $ | 51,312 |  |  | $ | 25,833 |  |  | $ | 25,479 |  |  | $ | 26,506 |  |  | $ | 21,834 |  |  | $ | 4,672 |
Developed technology | 1.9 years |  | 779,794 |  |  | 546,747 |  |  | 233,047 |  |  | 826,077 |  |  | 436,982 |  |  | 389,095 |
Total acquired intangible assets |  |  | $ | 831,106 |  |  | $ | 572,580 |  |  | $ | 258,526 |  |  | $ | 852,583 |  |  | $ | 458,816 |  |  | $ | 393,767 |
For the year ended December 31, 2024, the Company recognized a gross reduction of $50.6 million related to its developed technology assets. This reduction included $28.5 million due to an amended agreement with a strategic partner and $22.1 million attributed to the retirement of fully amortized developed technology. See Note 5 - Strategic Partnerships for additional information regarding our amended agreement with a strategic partner. During the year ended December 31, 2024, the Company purchased certain intangible assets including customer relationships, developed technology, trademarks and domain names amounting to $29.8 million. Amortization expense from acquired intangible assets for the years ended December 31, 2024, 2023 and 2022 was $136.5 million, $151.1 million, and $174.5 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):
2025 | $ | 133,453 |
2026 | 110,987 |
2027 | 5,398 |
2028 onwards | 8,688 |
Total estimated amortization expense | $ | 258,526 |
Accrued liabilities consisted of the following (in thousands):
| December 31, 2024 |  | December 31, 2023
Accrued compensation and benefits | $ | 47,415 |  |  | $ | 63,009 |
Accrued sales, use, and telecom related taxes | 55,699 |  |  | 43,796 |
Accrued marketing and sales commissions | 36,391 |  |  | 60,528 |
Operating lease liabilities, short-term | 20,445 |  |  | 16,707 |
Other accrued expenses | 123,849 |  |  | 141,592 |
Total accrued liabilities | $ | 283,799 |  |  | $ | 325,632 |
Deferred and Prepaid Sales Commission Costs Amortization expense for the deferred and prepaid sales commission costs for the years ended December 31, 2024, 2023 and 2022 were $162.6 million, $138.1 million, and $115.2 million, respectively. There was no asset write-off or impairment loss in relation to the deferred commission costs capitalized for the periods presented.

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