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Financial Statement Components
 9 Months Ended
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, 2025December 31, 2024
Cash$140,000 $128,308 
Money market funds5,371 114,503 
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, 2025December 31, 2024
Accounts receivable$293,110 $300,805 
Unbilled accounts receivable106,085 100,578 
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, 2025December 31, 2024
Prepaid expenses$39,269 $39,858 
Inventory885 1,243 
Other current assets24,480 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, 2025December 31, 2024
Computer hardware and software$270,795 $252,961 
Internal-use software development costs361,804 314,944 
Furniture and fixtures8,875 8,965 
Leasehold improvements10,013 12,367 
Total property and equipment, gross651,487 589,237 
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 adjustments2,551 
Balance as of September 30, 2025$98,087 
The carrying values of intangible assets are as follows (in thousands):
September 30, 2025December 31, 2024
Weighted-Average Remaining Useful LifeCostAccumulated
Amortization		Acquired
Intangibles, Net		CostAccumulated
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 
2026114,636 
20279,519 
2028 onwards11,278 
Total estimated amortization expense$169,577 
Accrued liabilities consisted of the following (in thousands):
September 30, 2025December 31, 2024
Accrued compensation and benefits$48,707 $47,415 
Accrued sales, use, and telecom related taxes51,900 55,699 
Accrued marketing and sales commissions34,465 36,391 
Operating lease liabilities, short-term21,680 20,445 
Other accrued expenses126,083 123,849 
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.