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Balance Sheet Information | 12 Months Ended
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Dec. 31, 2023
Balance Sheet Related Disclosures [Abstract] |
Balance Sheet Information | Balance Sheet Information Allowance for Credit Losses The activity in the accounts receivable reserves is as follows:
|  | As of December 31,
|  | 2023 |  | 2022 |  | 2021
|  | (in thousands)
Beginning balance |  | $ | 5,029 |  |  | $ | 3,311 |  |  | $ | 3,248 |
Additions to the reserves |  | 2,025 |  |  | 2,406 |  |  | 196 |
Write-offs and adjustments |  | — |  |  | (688) |  |  | (133) |
Ending balance |  | $ | 7,054 |  |  | $ | 5,029 |  |  | $ | 3,311 |
Property and Equipment, Net Property and equipment, net consisted of the following:
|  | As of December 31,
|  | 2023 |  | 2022
|  | (in thousands)
Computer and networking equipment |  | $ | 224,313 |  |  | $ | 225,009 |
Leasehold improvements |  | 8,605 |  |  | 8,374 |
Furniture and fixtures |  | 2,142 |  |  | 1,792 |
Office equipment |  | 1,228 |  |  | 1,176 |
Internal-use software |  | 97,623 |  |  | 66,488 |
Property and equipment, gross |  | 333,911 |  |  | 302,839 |
Accumulated depreciation and amortization |  | (157,303) |  |  | (122,461) |
Property and equipment, net |  | $ | 176,608 |  |  | $ | 180,378 |
During the year ended December 31, 2023, the Company recognized an impairment charge of $4.3 million, of which $3.0 million related to property and equipment, net and $1.3 million related to advance payments for the purchase of property and equipment. The write-off was primarily related to excess computer and networking equipment including software the Company does not expect to use and therefore abandoned. Impairment charges are included within impairment expense in the consolidated statements of operations. There were no impairments during the years ended December 31, 2022 and 2021. Depreciation on property and equipment for the years ended December 31, 2023, 2022 and 2021 was approximately $51.6 million, $42.6 million, and $28.8 million, respectively. Included in these amounts was amortization expense for capitalized internal-use software costs of approximately $14.0 million, $8.6 million and $4.6 million for the years ended December 31, 2023, 2022 and 2021, respectively. As of December 31, 2023 and 2022, the unamortized balance of capitalized internal-use software costs on the Company’s consolidated balance sheets was approximately $62.6 million and $45.5 million, respectively. The Company leases certain networking equipment from various third parties through equipment finance leases. The Company’s networking equipment assets as of December 31, 2023 and 2022, included a total of $74.7 million and $77.3 million acquired under finance lease agreements, respectively. These leases are capitalized in property and equipment, and the related amortization of assets under finance leases is included in depreciation and amortization expense. The accumulated depreciation of the associated networking equipment assets under finance leases totaled $40.1 million and $28.1 million as of December 31, 2023 and 2022, respectively. Other Assets Other assets consisted of the following:
|  | As of December 31,
|  | 2023 |  | 2022
|  | (in thousands)
Deferred contract costs, net |  | $ | 61,981 |  |  | $ | 50,523 |
Advance payment for purchase of property and equipment |  | 24,509 |  |  | 37,013 |
Other assets |  | 4,289 |  |  | 5,086 |
Total other assets |  | $ | 90,779 |  |  | $ | 92,622 |
Accrued Expenses Accrued expenses consisted of the following:
|  | As of December 31,
|  | 2023 |  | 2022
|  | (in thousands)
Accrued compensation and related benefits |  | $ | 14,918 |  |  | $ | 20,204 |
Accrued bonus |  | 24,614 |  |  | 15,818 |
Accrued colocation and bandwidth costs |  | 14,362 |  |  | 10,448 |
Other tax liabilities |  | 4,344 |  |  | 8,698 |
Other accrued expenses |  | 3,580 |  |  | 5,993 |
Total accrued expenses |  | $ | 61,818 |  |  | $ | 61,161 |
Other Current Liabilities Other current liabilities consisted of the following:
|  | As of December 31,
|  | 2023 |  | 2022
|  | (in thousands)
Deferred revenue |  | $ | 33,824 |  |  | $ | 28,047 |
Accrued computer and networking equipment |  | 1,673 |  |  | 1,467 |
Holdback payable |  | 3,771 |  |  | 4,013 |
Other current liabilities |  | 1,271 |  |  | 867 |
Total other current liabilities |  | $ | 40,539 |  |  | $ | 34,394 |
Accumulated Other Comprehensive Loss The following table summarizes the changes in accumulated other comprehensive loss, which is reported as a component of stockholders’ equity:
|  | Foreign Currency Translation |  | Unrealized gain/(loss) for available-for-sale investments |  | Accumulated Other Comprehensive Income (Loss)
|  | (in thousands)
Balance at December 31, 2020 |  | $ | (36) |  |  | $ | 42 |  |  | $ | 6 |
Other comprehensive loss |  | (286) |  |  | (2,347) |  |  | (2,633) |
Balance at December 31, 2021 |  | (322) |  |  | (2,305) |  |  | (2,627) |
Other comprehensive loss |  | (255) |  |  | (6,404) |  |  | (6,659) |
Balance at December 31, 2022 |  | $ | (577) |  |  | $ | (8,709) |  |  | $ | (9,286) |
Other comprehensive income |  | 565 |  |  | 7,713 |  |  | 8,278 |
Balance at December 31, 2023 |  | $ | (12) |  |  | $ | (996) |  |  | $ | (1,008) |
There were no material reclassifications out of accumulated other comprehensive loss for the years ended December 31, 2023 and 2022. Additionally, there was no material tax impact on the amounts presented.

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