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v3.24.2

Consolidated balance sheet components (Tables) | 6 Months Ended
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Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Schedule 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, 2024 |  | Amortized Cost |  | Unrealized Gains |  | Unrealized Losses |  | Fair Value
Cash and cash equivalents: |  |  |  |  |  |  |  |
Cash |  | $ | 37,683 |  |  | $ | — |  |  | $ | — |  |  | $ | 37,683 |
Money market funds |  | 234,681 |  |  | — |  |  | — |  |  | 234,681 |
Total cash and cash equivalents |  | 272,364 |  |  | — |  |  | — |  |  | 272,364 |
Marketable securities: |  |  |  |  |  |  |  |
U.S. government securities |  | 148,575 |  |  | 3 |  |  | (19) |  |  | 148,559 |
Total cash, cash equivalents, and marketable securities |  | $ | 420,939 |  |  | $ | 3 |  |  | $ | (19) |  |  | $ | 420,923 |
As of December 31, 2023 |  | Amortized Cost |  | Unrealized Gains |  | Unrealized Losses |  | Fair Value
Cash and cash equivalents: |  |  |  |  |  |  |  |
Cash |  | $ | 38,872 |  |  | $ | — |  |  | $ | — |  |  | $ | 38,872 |
Money market funds |  | 266,692 |  |  | — |  |  | — |  |  | 266,692 |
Total cash and cash equivalents |  | 305,564 |  |  | — |  |  | — |  |  | 305,564 |
Marketable securities: |  |  |  |  |  |  |  |
U.S. government securities |  | 171,296 |  |  | 76 |  |  | — |  |  | 171,372 |
Total cash, cash equivalents, and marketable securities |  | $ | 476,860 |  |  | $ | 76 |  |  | $ | — |  |  | $ | 476,936 |
Cash equivalents and marketable securities in an unrealized loss position consisted of the following (in thousands):
| June 30, 2024 |  | December 31, 2023
| Fair Value |  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses
Marketable securities: |  |  |  |  |  |  |
U.S. government securities | $ | 127,651 |  |  | $ | (19) |  |  | $ | — |  |  | $ | — |
Total securities in an unrealized loss position | $ | 127,651 |  |  | $ | (19) |  |  | $ | — |  |  | $ | — |
Schedule of Property and Equipment, Net | Property and equipment, net consisted of the following (in thousands):
|  | June 30, |  | December 31,
|  | 2024 |  | 2023
Leasehold improvements |  | $ | 19,064 |  |  | $ | 19,064 |
Computers and equipment |  | 8,408 |  |  | 7,770 |
Furniture and fixtures |  | 4,713 |  |  | 4,705 |
Purchased software |  | 383 |  |  | 383 |
Construction in progress |  | 62 |  |  | — |
Total property and equipment |  | 32,630 |  |  | 31,922 |
Less accumulated depreciation and amortization |  | (28,788) |  |  | (27,483) |
Property and equipment, net |  | $ | 3,842 |  |  | $ | 4,439 |
Schedule of Capitalized Software, Net | Capitalized software, net consisted of the following (in thousands):
|  | June 30, |  | December 31,
|  | 2024 |  | 2023
Capitalized software |  | $ | 96,424 |  |  | $ | 85,160 |
Less accumulated amortization |  | (63,541) |  |  | (53,772) |
Capitalized software, net |  | $ | 32,883 |  |  | $ | 31,388 |
Schedule of Expected Amortization Expense | As of June 30, 2024, expected amortization expense for capitalized software over the remaining asset lives was as follows (in thousands):
Remainder of 2024 | $ | 9,475 |
2025 | 14,663 |
2026 | 7,604 |
2027 | 1,141 |
Total expected amortization | $ | 32,883 |
The expected future amortization expense for intangible assets as of June 30, 2024 was as follows (in thousands):
Remainder of 2024 | $ | 886 |
2025 | 917 |
2026 | 917 |
2027 | 594 |
Total expected amortization | $ | 3,314 |
Schedule of Intangible Assets Acquired through Business Combination | Intangible assets, net and goodwill— As of June 30, 2024, 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 |  |  | $ | (2,615) |  |  | $ | 2,885 |
Vendor relationships |  | 3 years |  | 4,500 |  |  | (4,278) |  |  | 222 |
Developed technology |  | 3 years |  | 4,200 |  |  | (3,993) |  |  | 207 |
Tradename |  | 2 years |  | 900 |  |  | (900) |  |  | — |
Total |  |  |  | $ | 15,100 |  |  | $ | (11,786) |  |  | $ | 3,314 |
As of December 31, 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 |  |  | $ | (2,156) |  |  | $ | 3,344 |
Vendor relationships |  | 3 years |  | 4,500 |  |  | (3,528) |  |  | 972 |
Developed technology |  | 3 years |  | 4,200 |  |  | (3,293) |  |  | 907 |
Tradename |  | 2 years |  | 900 |  |  | (900) |  |  | — |
Total |  |  |  | $ | 15,100 |  |  | $ | (9,877) |  |  | $ | 5,223 |
Schedule of Accrued Expenses and Other Current Liabilities | Accrued expenses and other current liabilities— Accrued expenses and other current liabilities consisted of the following (in thousands):
|  | June 30, |  | December 31,
|  | 2024 |  | 2023
Accrued expenses |  | $ | 22,865 |  |  | $ | 13,773 |
Indirect tax reserves |  | 1,816 |  |  | 1,432 |
Indirect tax payables |  | 7,208 |  |  | 8,758 |
Other current liabilities |  | 2,941 |  |  | 3,815 |
Accrued expenses and other current liabilities |  | $ | 34,830 |  |  | $ | 27,778 |

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