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Financial Statement Components | 9 Months Ended
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Sep. 30, 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):
| September 30, 2025 |  | December 31, 2024
Cash | $ | 140,000 |  |  | $ | 128,308 |
Money market funds | 5,371 |  |  | 114,503 |
Total cash and cash equivalents | $ | 145,371 |  |  | $ | 242,811 |
As of September 30, 2025 and December 31, 2024, the cash balance includes $8.3 million and $7.4 million, respectively, 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):
| September 30, 2025 |  | December 31, 2024
Accounts receivable | $ | 293,110 |  |  | $ | 300,805 |
Unbilled accounts receivable | 106,085 |  |  | 100,578 |
Allowance for doubtful accounts | (17,747) |  |  | (15,131) |
Accounts receivable, net | $ | 381,448 |  |  | $ | 386,252 |
Prepaid expenses and other current assets consisted of the following (in thousands):
| September 30, 2025 |  | December 31, 2024
Prepaid expenses | $ | 39,269 |  |  | $ | 39,858 |
Inventory | 885 |  |  | 1,243 |
Other current assets | 24,480 |  |  | 18,343 |
Total prepaid expenses and other current assets | $ | 64,634 |  |  | $ | 59,444 |
Property and equipment, net consisted of the following (in thousands):
| September 30, 2025 |  | December 31, 2024
Computer hardware and software | $ | 270,795 |  |  | $ | 252,961 |
Internal-use software development costs | 361,804 |  |  | 314,944 |
Furniture and fixtures | 8,875 |  |  | 8,965 |
Leasehold improvements | 10,013 |  |  | 12,367 |
Total property and equipment, gross | 651,487 |  |  | 589,237 |
Less: accumulated depreciation and amortization | (465,366) |  |  | (408,587) |
Property and equipment, net | $ | 186,121 |  |  | $ | 180,650 |
Total depreciation and amortization expense related to property and equipment was $21.9 million and $21.1 million for the three months ended September 30, 2025 and 2024, respectively, and $65.1 million and $64.5 million for the nine months ended September 30, 2025 and 2024, respectively. A summary of activity of the Company’s carrying value of goodwill during the nine months ended September 30, 2025 is presented in the following table (in thousands):
Balance as of December 31, 2024 | $ | 82,986 |
Acquisitions (Note 7) | 12,550 |
Foreign currency translation adjustments | 2,551 |
Balance as of September 30, 2025 | $ | 98,087 |
The carrying values of intangible assets are as follows (in thousands):
|  |  | September 30, 2025 |  | December 31, 2024
| Weighted-Average Remaining Useful Life |  | Cost |  | Accumulated Amortization |  | Acquired Intangibles, Net |  | Cost |  | Accumulated Amortization |  | Acquired Intangibles, Net
Customer relationships | 3.3 years |  | $ | 60,667 |  |  | $ | 32,345 |  |  | $ | 28,322 |  |  | $ | 51,312 |  |  | $ | 25,833 |  |  | $ | 25,479 |
Developed technology | 1.2 years |  | 784,163 |  |  | 642,908 |  |  | 141,255 |  |  | 779,794 |  |  | 546,747 |  |  | 233,047 |
Total acquired intangible assets |  |  | $ | 844,830 |  |  | $ | 675,253 |  |  | $ | 169,577 |  |  | $ | 831,106 |  |  | $ | 572,580 |  |  | $ | 258,526 |
Amortization expense from acquired intangible assets for the three months ended September 30, 2025 and 2024 was $34.6 million and $33.5 million, respectively, and $101.3 million and $103.1 million for the nine months ended September 30, 2025 and 2024, 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) | $ | 34,144 |
2026 | 114,636 |
2027 | 9,519 |
2028 onwards | 11,278 |
Total estimated amortization expense | $ | 169,577 |
Accrued liabilities consisted of the following (in thousands):
| September 30, 2025 |  | December 31, 2024
Accrued compensation and benefits | $ | 48,707 |  |  | $ | 47,415 |
Accrued sales, use, and telecom related taxes | 51,900 |  |  | 55,699 |
Accrued marketing and sales commissions | 34,465 |  |  | 36,391 |
Operating lease liabilities, short-term | 21,680 |  |  | 20,445 |
Other accrued expenses | 126,083 |  |  | 123,849 |
Total accrued liabilities | $ | 282,835 |  |  | $ | 283,799 |
Deferred and Prepaid Sales Commission Costs Amortization expense for the deferred and prepaid sales commission costs was $41.1 million and $41.6 million for the three months ended September 30, 2025 and 2024, respectively, and $123.0 million and $120.7 million for the nine months ended September 30, 2025 and 2024, respectively. There was no impairment loss in relation to the deferred commissions costs capitalized for the periods presented. The Company evaluates the recoverability of its deferred and prepaid sales commission balance whenever events or circumstances indicate that the carrying amount of such assets may not be recoverable. During the three months ended September 30, 2025, the Company recorded a non-cash asset write-down charge of $11.4 million pursuant to an updated partner arrangement, in sales and marketing expense in the accompanying Condensed Consolidated Statements of Operations.

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- Definition The entire disclosure for supplemental balance sheet disclosures, including descriptions and amounts for assets, liabilities, and equity. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 210 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/210/tableOfContent + Details
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