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Financial Statement Components
 3 Months Ended
Mar. 31, 2025
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):
March 31, 2025December 31, 2024
Cash$149,176 $128,308 
Money market funds5,260 114,503 
Total cash and cash equivalents$154,436 $242,811 
As of March 31, 2025 and December 31, 2024, the cash balance for both periods includes $7.4 million in restricted cash, held as a bank deposit for the issuance of a foreign bank guarantee.
Accounts receivable, net consisted of the following (in thousands):
March 31, 2025December 31, 2024
Accounts receivable$294,991 $300,805 
Unbilled accounts receivable101,837 100,578 
Allowance for doubtful accounts(15,711)(15,131)
Accounts receivable, net$381,117 $386,252 
Prepaid expenses and other current assets consisted of the following (in thousands):
March 31, 2025December 31, 2024
Prepaid expenses$38,741 $39,858 
Inventory1,170 1,243 
Other current assets25,620 18,343 
Total prepaid expenses and other current assets$65,531 $59,444 
Property and equipment, net consisted of the following (in thousands):
March 31, 2025December 31, 2024
Computer hardware and software$260,265 $252,961 
Internal-use software development costs330,125 314,944 
Furniture and fixtures8,457 8,965 
Leasehold improvements10,545 12,367 
Total property and equipment, gross609,392 589,237 
Less: accumulated depreciation and amortization(427,568)(408,587)
Property and equipment, net$181,824 $180,650 
Total depreciation and amortization expense related to property and equipment was $21.7 million for each of the three months ended March 31, 2025 and 2024, respectively.
A summary of activity of the Company’s carrying value of goodwill during the three months ended March 31, 2025 is presented in the following table (in thousands):
Balance as of December 31, 2024$82,986 
Foreign currency translation adjustments770 
Balance as of March 31, 2025$83,756 
The carrying values of intangible assets are as follows (in thousands):
March 31, 2025December 31, 2024
Weighted-Average Remaining Useful LifeCostAccumulated
Amortization		Acquired
Intangibles, Net		CostAccumulated
Amortization		Acquired
Intangibles, Net
Customer relationships
3.9 years
$51,631 $27,866 $23,765 $51,312 $25,833 $25,479 
Developed technology
1.6 years
779,909 578,506 201,403 779,794 546,747 233,047 
Total acquired intangible assets$831,540 $606,372 $225,168 $831,106 $572,580 $258,526 
Amortization expense from acquired intangible assets for the three months ended March 31, 2025 and 2024 was $33.4 million and $34.9 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 Condensed Consolidated Statements of Operations.
Estimated amortization expense for acquired intangible assets for the following fiscal years is as follows (in thousands):
2025 (remaining)$100,091 
2026110,988 
20275,399 
2028 onwards8,690 
Total estimated amortization expense$225,168 
Accrued liabilities consisted of the following (in thousands):
March 31, 2025December 31, 2024
Accrued compensation and benefits$50,427 $47,415 
Accrued sales, use, and telecom related taxes49,052 55,699 
Accrued marketing and sales commissions35,670 36,391 
Operating lease liabilities, short-term22,640 20,445 
Other accrued expenses113,079 123,849 
Total accrued liabilities$270,868 $283,799 
Deferred and Prepaid Sales Commission Costs
Amortization expense for the deferred and prepaid sales commission costs was $40.8 million and $38.6 million for the three months ended March 31, 2025 and 2024, respectively. There was no impairment loss in relation to the deferred commissions costs capitalized for the periods presented.
Supplier Financing Obligations
The Company has established financing arrangements with certain third-party financial institutions and participating suppliers to be repaid over different terms ranging up to three years. Some of these financing arrangements are collateralized against property and equipment. As of March 31, 2025 and December 31, 2024, the Company’s outstanding financing obligations related to such arrangements included in accrued liabilities and other long-term liabilities were $1.1 million and $1.7 million, respectively.