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v3.23.2

Consolidated balance sheet components (Tables) | 6 Months Ended
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Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Summary of Cash, Cash Equivalents, and Marketable Securities | The amortized cost, unrealized gains and losses, and estimated fair value of cash, cash equivalents, and marketable securities consisted of the following (in thousands):
As of June 30, 2023 |  | Amortized Cost |  | Unrealized Gains |  | Unrealized Losses |  | Fair Value
Cash and cash equivalents: |  |  |  |  |  |  |  |
Cash |  | $ | 41,508 |  |  | $ | — |  |  | $ | — |  |  | $ | 41,508 |
Money market funds |  | 281,719 |  |  | — |  |  | — |  |  | 281,719 |
Total cash and cash equivalents |  | 323,227 |  |  | — |  |  | — |  |  | 323,227 |
Marketable securities: |  |  |  |  |  |  |  |
U.S. government securities |  | 142,298 |  |  | 21 |  |  | (32) |  |  | 142,287 |
Total cash, cash equivalents, and marketable securities |  | $ | 465,525 |  |  | $ | 21 |  |  | $ | (32) |  |  | $ | 465,514 |
As of December 31, 2022 |  | Amortized Cost |  | Unrealized Gains |  | Unrealized Losses |  | Fair Value
Cash and cash equivalents: |  |  |  |  |  |  |  |
Cash |  | $ | 134,408 |  |  | $ | — |  |  | $ | — |  |  | $ | 134,408 |
Money market funds |  | 130,377 |  |  | — |  |  | — |  |  | 130,377 |
U.S. government securities |  | 48,899 |  |  | 4 |  |  | (3) |  |  | 48,900 |
Total cash and cash equivalents |  | 313,684 |  |  | 4 |  |  | (3) |  |  | 313,685 |
Marketable securities: |  |  |  |  |  |  |  |
U.S. government securities |  | 151,900 |  |  | 30 |  |  | (243) |  |  | 151,687 |
Total cash, cash equivalents, and marketable securities |  | $ | 465,584 |  |  | $ | 34 |  |  | $ | (246) |  |  | $ | 465,372 |
Cash equivalents and marketable securities in an unrealized loss position consisted of the following (in thousands):
| June 30, 2023 |  | December 31, 2022
| Fair Value |  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses
Cash equivalents: |  |  |  |  |  |  |
U.S. government securities | $ | — |  |  | $ | — |  |  | $ | 24,960 |  |  | $ | (3) |
Marketable securities: |  |  |  |  |  |  |
U.S. government securities | 38,765 |  |  | (32) |  |  | 59,057 |  |  | (243) |
Total securities in an unrealized loss position | $ | 38,765 |  |  | $ | (32) |  |  | $ | 84,017 |  |  | $ | (246) |
Summary of Property and Equipment, Net | Property and equipment, net consisted of the following (in thousands):
|  | June 30, |  | December 31,
|  | 2023 |  | 2022
Leasehold improvements |  | $ | 19,020 |  |  | $ | 19,109 |
Computers and equipment |  | 7,775 |  |  | 7,820 |
Furniture and fixtures |  | 4,678 |  |  | 4,870 |
Purchased software |  | 383 |  |  | 383 |
Construction in progress |  | 12 |  |  | — |
Total property and equipment |  | 31,868 |  |  | 32,182 |
Less accumulated depreciation and amortization |  | (26,383) |  |  | (25,170) |
Property and equipment, net |  | $ | 5,485 |  |  | $ | 7,012 |
Summary of Capitalized Software, Net | Capitalized software, net consisted of the following (in thousands):
|  | June 30, |  | December 31,
|  | 2023 |  | 2022
Capitalized software |  | $ | 74,797 |  |  | $ | 63,748 |
Less accumulated amortization |  | (44,447) |  |  | (36,336) |
Capitalized software, net |  | $ | 30,350 |  |  | $ | 27,412 |
Summary of Expected Amortization Expense | As of June 30, 2023, expected amortization expense for capitalized software over the remaining asset lives was as follows (in thousands):
Remainder of 2023 | $ | 8,465 |
2024 | 13,319 |
2025 | 7,479 |
2026 | 1,087 |
Total expected amortization | $ | 30,350 |
The expected future amortization expense for intangible assets as of June 30, 2023 was as follows (in thousands):
Remainder of 2023 | $ | 1,974 |
2024 | 2,795 |
2025 | 917 |
2026 | 917 |
2027 | 594 |
Total expected amortization | $ | 7,197 |
Summary of Intangible Assets Acquired through Business Combination | Intangible assets, net and goodwill— As of June 30, 2023, intangible assets, net acquired as part of the CorpU business combination were as follows (in thousands):
|  | Estimated Useful Lives |  | Intangible Assets, Gross |  | Accumulated Amortization |  | Intangible Assets, Net
Customer relationships |  | 6 years |  | $ | 5,500 |  |  | $ | (1,698) |  |  | $ | 3,802 |
Vendor relationships |  | 3 years |  | 4,500 |  |  | (2,778) |  |  | 1,722 |
Developed technology |  | 3 years |  | 4,200 |  |  | (2,593) |  |  | 1,607 |
Tradename |  | 2 years |  | 900 |  |  | (834) |  |  | 66 |
Total |  |  |  | $ | 15,100 |  |  | $ | (7,903) |  |  | $ | 7,197 |
As of December 31, 2022, intangible assets, net acquired as part of the CorpU business combination were as follows (in thousands):
|  | Estimated Useful Lives |  | Intangible Assets, Gross |  | Accumulated Amortization |  | Intangible Assets, Net
Customer relationships |  | 6 years |  | $ | 5,500 |  |  | $ | (1,239) |  |  | $ | 4,261 |
Vendor relationships |  | 3 years |  | 4,500 |  |  | (2,028) |  |  | 2,472 |
Developed technology |  | 3 years |  | 4,200 |  |  | (1,893) |  |  | 2,307 |
Tradename |  | 2 years |  | 900 |  |  | (609) |  |  | 291 |
Total |  |  |  | $ | 15,100 |  |  | $ | (5,769) |  |  | $ | 9,331 |

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