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Segment Information
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Segment Information
Note 15. Segment Information
The Chief Executive Officer, who functions as the chief operating decision maker (“CODM”), oversees the Company’s business activities at the consolidated level as a single operating and reportable segment. The factors used to identify the Company’s single operating segment include the organizational structure of the Company and the financial information available for evaluation by the CODM. The CODM uses consolidated net income (or loss) and operating margin to evaluate financial performance and make decisions regarding resource allocation, including setting target revenue growth and distributing the budget across cost of revenues, research and development, sales and marketing, and general and administrative expenses.
The following table presents selected financial information for the Company’s single operating segment for the three months ended March 31, 2025 and 2024 (in thousands):
Three Months Ended
March 31,
20252024
Revenue$612,056 $584,211 
Less:
Share-based compensation expense77,881 88,168 
Deprecation and amortization55,061 56,651 
Other segment items (1)
468,774 450,291 
Income (loss) from operations10,340 (10,899)
Operating margin as % of revenue1.7 %(1.9)%
Other income (expense), net
Interest expense(16,115)(16,254)
Other income (expense) (2)
1,402 1,944 
Other income (expense), net(14,713)(14,310)
Loss before income taxes(4,373)(25,209)
Provision for income taxes5,955 3,285 
Net loss$(10,328)$(28,494)
(1)Other segment items mainly consist of personnel costs, third-party commissions, and advertising and marketing costs.
(2)Includes interest income of $1.2 million and $2.4 million for the three months ended March 31, 2025 and 2024, respectively.
See the condensed consolidated financial statements for other financial information regarding the Company’s operating segment.
Refer to Note 2 - Revenue in the Notes to Condensed Consolidated Financial Statements in this Quarterly Report on Form 10-Q for additional information about revenue by geographic location.
Concentrations
Financial instruments that subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents and accounts receivable. Although the Company deposits its cash with multiple financial institutions, its deposits, at times, may exceed federally insured limits. The Company’s accounts receivable are primarily derived from sales by resellers and to direct customers. The Company maintains an allowance for doubtful accounts for estimated potential credit losses. As of March 31, 2025 and December 31, 2024, none of the Company’s customers accounted for more than 10% of the Company’s total accounts receivable. For the three months ended March 31, 2025 and 2024, none of the Company’s customers accounted for more than 10% of the Company’s total revenues or subscription revenues.
Long-lived assets by geographic location are based on the location of the legal entity that owns the asset. As of March 31, 2025 and December 31, 2024, approximately 89% and 90% of the Company’s consolidated long-lived assets were located in the U.S. No other single country outside of the U.S. represented more than 10% of the Company’s consolidated long-lived assets as of March 31, 2025 and December 31, 2024.